Lindsell Train Ltd

London, X0 · CIK 1484150 · 13F filing filed 2024-05-10

SEC-registered investment adviser since 2011 · corporation

Assets managed$9.3bn
Staff30 · 6 in investment roles
Main clients (by assets)Private funds 94%, Pension plans 6%
Private funds2 · $305.1m gross assets
Websitelindselltrain.com
Form ADV · 2026-04-27SEC adviser record

Legal entityLINDSELL TRAIN LIMITED (GB)

$4.8bn reported value -7.7% vs Q4 2023

30positions

99.0%in top 10

0 new 0 added 11 reduced 0 sold out vs Q4 2023

Holdings, Q1 2024

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	MONDELEZ INTL INC CL A MDLZ	MDLZ	14,280,093	$1.0bn21.03%	21.03%	Reduced -2.6m	-2,570,205 -15.2%
2	FAIR ISAAC CORP COM FICO	FICO	509,809	$642.1m13.49%	13.49%	Reduced -94.1k	-94,112 -15.6%
3	INTUIT COM INTU	INTU	980,995	$636.6m13.38%	13.38%	Reduced -114.2k	-114,169 -10.4%
4	DISNEY WALT CO COM DIS	DIS	5,056,482	$611.8m12.85%	12.85%	Reduced -498.2k	-498,208 -9.0%
5	PEPSICO INC COM PEP	PEP	3,016,781	$523.7m11.00%	11.00%	Reduced -229.9k	-229,929 -7.1%
6	TKO GROUP HOLDINGS INC CL A TKO	TKO	5,509,517	$476.1m10.00%	10.00%	Reduced -375.6k	-375,616 -6.4%
7	PAYPAL HLDGS INC COM PYPL	PYPL	4,787,359	$318.7m6.70%	6.70%	Reduced -467.9k	-467,943 -8.9%
8	EBAY INC. COM EBAY	EBAY	4,683,022	$243.2m5.11%	5.11%	Reduced -894.8k	-894,849 -16.0%
9	BROWN FORMAN CORP CL A BF.A	BF.A	2,843,575	$151.0m3.17%	3.17%	Reduced -94.9k	-94,895 -3.2%
10	MANCHESTER UTD PLC NEW ORD CL A MANU	MANU	7,716,799	$109.0m2.29%	2.29%	Reduced -3.4m	-3,382,377 -30.5%
11	BROWN FORMAN CORP CL B BF.B	BF.B	290,307	$15.1m0.32%	0.32%	Unchanged
12	EQUIFAX INC COM EFX	EFX	10,300	$2.7m0.06%	0.06%	Unchanged
13	AMERICAN EXPRESS CO COM AXP	AXP	11,600	$2.6m0.06%	0.06%	Unchanged
14	ALPHABET INC CAP STK CL C GOOG	GOOG	16,850	$2.5m0.05%	0.05%	Unchanged
15	S&P GLOBAL INC COM SPGI	SPGI	5,900	$2.5m0.05%	0.05%	Unchanged
16	ORACLE CORP COM ORCL	ORCL	19,200	$2.4m0.05%	0.05%	Unchanged
17	VISA INC COM CL A V	V	7,700	$2.1m0.05%	0.05%	Unchanged
18	CME GROUP INC COM CME	CME	8,600	$1.9m0.04%	0.04%	Unchanged
19	COLGATE PALMOLIVE CO COM CL	CL	20,100	$1.8m0.04%	0.04%	Unchanged
20	ADOBE INC COM ADBE	ADBE	3,560	$1.8m0.04%	0.04%	Unchanged
21	VERISK ANALYTICS INC COM VRSK	VRSK	7,300	$1.7m0.04%	0.04%	Unchanged
22	LAUDER ESTEE COS INC CL A EL	EL	11,425	$1.7m0.03%	0.03%	Unchanged
23	NIKE INC CL B NKE	NKE	15,900	$1.5m0.03%	0.03%	Unchanged
24	PRICE T ROWE GROUP INC COM TROW	TROW	12,000	$1.5m0.03%	0.03%	Unchanged
25	COCA COLA CO COM KO	KO	21,100	$1.3m0.03%	0.03%	Unchanged
26	HERSHEY CO COM HSY	HSY	5,100	$987.9k0.02%	0.02%	Unchanged
27	JOHNSON & JOHNSON COM JNJ	JNJ	6,065	$958.5k0.02%	0.02%	Unchanged
28	MADISON SQUARE GRDN SPRT COR CL A MSGS	MSGS	3,300	$609.1k0.01%	0.01%	Unchanged
29	KENVUE INC COM KVUE	KVUE	14,739	$316.2k0.01%	0.01%	Unchanged
30	CAZOO GROUP LTD CL A CZOOF	CZOOF	29,187	$00.00%	0.00%	Reduced -8.1k	-8,122 -21.8%

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
MANCHESTER UTD PLC NEW MANU · 13G · filed 2026-01-06	MANU	6.4%≈ $82.5m	-1.4 pts	13G	2026-01-06