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Lindsell Train Ltd — 13F Holdings & Portfolio

CIK 1484150 · latest 13F-HR filed 2026-11-02

Backtest portfolio

Lindsell Train Ltd manages $2.36B in 13F-reported U.S. long-equity assets across 28 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are GOOGL (16.44%), TKO (14.79%), TMO (12.44%). Quarter over quarter (versus its 2026-06-30 filing) the fund opened 0 new positions and exited 0; 6 existing positions rose in reported value and 13 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM
$2.36B

Long-equity book

Holdings
28

Distinct positions

Period
2026-09-30

Filed 2026-11-02

Q/Q Activity
+0 / −0 / ↑6 / ↓13

vs 2026-06-30

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q3 26
GOOGL16.4% · -12%TKO14.8% · -8%TMO12.4% · -24%DIS10.2% · -12%INTU7.3% · -6%PYPL6.6% · -7%MDLZ6.2% · -11%FICO5.3% · -6%PEP5.1% · -7%EBAY4.7% · -6%KKR3.8% · +48%MANU2.2% · -9%BF.A2.2% · -9%BF.B1.5% · -4%V0.2% · 0%SPGI0.1% · 0%CP0.1% · 0%AXP0.1% · -5%CME0.1% · 0%ADBE0.1% · 0%EFX0.1% · 0%VRSK0.1% · 0%WMG0.1% · +10%ORCL0.1% · 0%EL0.0% · -17%MSGS0.0% · -4%KO0.0% · -4%NKE0.0% · 0%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q2 26 → Q3 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 89.2%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Apr 27, 2026.

Assets Under Management
$9.25B
Discretionary
$9.25B
Employees
30
Accounts
18
Address
66
BUCKINGHAM GATE
LONDON SW1E 6AU
United Kingdom
Phone
4420 7808 1210
Website
Name Title / Status Ownership Type
Bullock, James, Michael Rex ControlDIRECTOR & SHAREHOLDER
since May 2024
Less than 5%Individual
Cameron, Jessica, Hermione ControlDIRECTOR & SHAREHOLDER
since May 2024
Less than 5%Individual
LIM, MICHAEL, CHEONG YOUNG ControlDIRECTOR & SHAREHOLDER
since Mar 2010
Less than 5%Individual
LINDSELL, MICHAEL, JAMES ControlDIRECTOR & SHAREHOLDER
since Mar 2000
25–50%Individual
MCNEILL, MATHEW ControlCHIEF COMPLIANCE OFFICER
since Jun 2021
Less than 5%Individual
SAUNDERS, JOCELYN, ARTHUR ControlCHIEF OPERATING OFFICER
since Feb 2022
Less than 5%Individual
TRAIN, NICHOLAS, JOHN ControlDIRECTOR & SHAREHOLDER
since Mar 2000
25–50%Individual
BARTLETT, JULIAN, ANTONYNON EXECUTIVE DIRECTOR
since Jul 2020
Less than 5%Individual
LANDMAN, RORY, BUCHANANNON EXECUTIVE DIRECTOR
since Apr 2023
Less than 5%Individual
LINDSELL TRAIN INVESTMENT TRUST PLCCORPORATE SHAREHOLDER
since Jan 2001
10–25%Foreign Entity
ORR, JANE, SILVIANON EXECUTIVE DIRECTOR
since Apr 2023
Less than 5%Individual
Ownership & leadership changes · 12 filings with changes since Mar 23, 2012

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Apr 27, 2026 filing
  • ChangedORR, JANE, SILVIA · no longer a control person
Oct 7, 2024 filing
  • AddedBullock, James, Michael Rex · DIRECTOR & SHAREHOLDER · Less than 5% · control person
  • AddedCameron, Jessica, Hermione · DIRECTOR & SHAREHOLDER · Less than 5% · control person
Apr 29, 2024 filing
  • No longer listedWILSON, KEITH, JAMES · DIRECTOR & SHAREHOLDER · Less than 5% · control person · listed since Nov 2019
Apr 27, 2023 filing
  • No longer listedALEXANDROFF, JAMES, MICHAEL · NON EXECUTIVE DIRECTOR · Less than 5% · listed since Jul 2011
  • AddedLANDMAN, RORY, BUCHANAN · NON EXECUTIVE DIRECTOR · Less than 5%
  • ChangedMCNEILL, MATHEW · now a control person
  • ChangedORR, JANE, SILVIA · title DIRECTOR & SHAREHOLDER → NON EXECUTIVE DIRECTOR
  • ChangedSAUNDERS, JOCELYN, ARTHUR · now a control person
Apr 22, 2022 filing
  • AddedSAUNDERS, JOCELYN, ARTHUR · CHIEF OPERATING OFFICER · Less than 5%
  • ChangedWILSON, KEITH, JAMES · now a control person
Aug 11, 2021 filing
  • AddedMCNEILL, MATHEW · CHIEF COMPLIANCE OFFICER · Less than 5%
Oct 29, 2020 filing
  • No longer listedMORRIS, ANDREW · CHIEF COMPLIANCE OFFICER · Less than 5% · listed since Jun 2019
  • AddedBARTLETT, JULIAN, ANTONY · NON EXECUTIVE DIRECTOR · Less than 5%
Apr 28, 2020 filing
  • AddedMORRIS, ANDREW · CHIEF COMPLIANCE OFFICER · Less than 5%
  • AddedWILSON, KEITH, JAMES · DIRECTOR & SHAREHOLDER · Less than 5%
Jun 19, 2019 filing
  • ChangedLIM, MICHAEL, CHEONG YOUNG · title DIRECTOR/COO/CHIEF COMPLIANCE OFFICER & SHAREHOLDER → DIRECTOR & SHAREHOLDER
Apr 29, 2019 filing
  • ChangedLIM, MICHAEL, CHEONG YOUNG · title DIRECTOR/CHIEF COMPLIANCE OFFICER & SHAREHOLDER → DIRECTOR/COO/CHIEF COMPLIANCE OFFICER & SHAREHOLDER
Older changes (3 more filings)
Apr 27, 2016 filing
  • ChangedLINDSELL TRAIN INVESTMENT TRUST PLC · title SHAREHOLDER → CORPORATE SHAREHOLDER
Mar 15, 2013 filing
  • ChangedLIM, MICHAEL, CHEONG YOUNG · title DIRECTOR/CHIEF COMPLIANCE OFFICER → DIRECTOR/CHIEF COMPLIANCE OFFICER & SHAREHOLDER
  • ChangedLINDSELL, MICHAEL, JAMES · title DIRECTOR → DIRECTOR & SHAREHOLDER
  • ChangedORR, JANE, SILVIA · title DIRECTOR → DIRECTOR & SHAREHOLDER
  • ChangedTRAIN, NICHOLAS, JOHN · title DIRECTOR → DIRECTOR & SHAREHOLDER
Mar 23, 2012 filing (earliest on record)
  • ListedALEXANDROFF, JAMES, MICHAEL · NON EXECUTIVE DIRECTOR · Less than 5%
  • ListedLIM, MICHAEL, CHEONG YOUNG · DIRECTOR/CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • ListedLINDSELL TRAIN INVESTMENT TRUST PLC · SHAREHOLDER · 10–25%
  • ListedLINDSELL, MICHAEL, JAMES · DIRECTOR · 25–50% · control person
  • ListedORR, JANE, SILVIA · DIRECTOR · Less than 5% · control person
  • ListedTRAIN, NICHOLAS, JOHN · DIRECTOR · 25–50% · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Top Adds (vs prior quarter)

Show all 6 →

Top Trims

Show all 13 →

New Positions

  • No new positions this quarter.
Show all 0 →

Exited Positions

  • No exits this quarter.
Show all 0 →

Lindsell Train Ltd Holdings (2026-09-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 ALPHABET INC GOOGL 02079K305 $387.4M 16.44% 1,126,045 SH
2 TKO GROUP HOLDINGS INC TKO 87256C101 $348.5M 14.79% 1,939,162 SH
3 THERMO FISHER SCIENTIFIC INC TMO 883556102 $293.1M 12.44% 391,841 SH
4 DISNEY WALT CO DIS 254687106 $241.2M 10.24% 2,299,341 SH
5 INTUIT INTU 461202103 $173.0M 7.34% 627,583 SH
6 PAYPAL HLDGS INC PYPL 70450Y103 $154.4M 6.55% 2,939,672 SH
7 MONDELEZ INTL INC MDLZ 609207105 $145.9M 6.19% 2,281,067 SH
8 FAIR ISAAC CORP FICO 303250104 $126.1M 5.35% 212,785 SH
9 PEPSICO INC PEP 713448108 $120.5M 5.11% 950,988 SH
10 EBAY INC. EBAY 278642103 $111.6M 4.74% 1,052,401 SH
11 KKR & CO INC KKR 48251W104 $90.4M 3.84% 990,230 SH
12 MANCHESTER UTD PLC NEW MANU G5784H106 $52.5M 2.23% 2,507,500 SH
13 BROWN FORMAN CORP BF.A 115637100 $52.1M 2.21% 1,941,817 SH
14 BROWN FORMAN CORP BF.B 115637209 $34.8M 1.48% 1,327,624 SH
15 VISA INC V 92826C839 $3.8M 0.16% 10,500 SH
16 S&P GLOBAL INC SPGI 78409V104 $2.9M 0.12% 7,400 SH
17 CANADIAN PACIFIC KANSAS CITY CP 13646K108 $2.6M 0.11% 30,000 SH
18 AMERICAN EXPRESS CO AXP 025816109 $2.2M 0.09% 7,200 SH
19 CME GROUP INC CME 12572Q105 $1.8M 0.08% 6,900 SH
20 ADOBE INC ADBE 00724F101 $1.7M 0.07% 7,000 SH
21 EQUIFAX INC EFX 294429105 $1.6M 0.07% 11,800 SH
22 VERISK ANALYTICS INC VRSK 92345Y106 $1.6M 0.07% 9,500 SH
23 WARNER MUSIC GROUP CORP WMG 934550203 $1.5M 0.06% 55,000 SH
24 ORACLE CORP ORCL 68389X105 $1.2M 0.05% 9,000 SH
25 LAUDER ESTEE COS INC EL 518439104 $1.2M 0.05% 12,500 SH
26 MADISON SQUARE GRDN SPRT COR MSGS 55825T103 $1.1M 0.05% 2,700 SH
27 COCA COLA CO KO 191216100 $989.9K 0.04% 11,500 SH
28 NIKE INC NKE 654106103 $743.4K 0.03% 21,000 SH
Filing History
Period Filed AUM Holdings Accession
2026-09-30 2026-11-02 $2.36B 28 0001172661-26-004793
2026-06-30 2026-07-15 $2.63B 28 0001172661-26-002623
2026-03-31 2026-04-24 $3.14B 27 0001172661-26-001535
2025-12-31 2026-02-11 $3.94B 28 0001172661-26-000625
Filer Information
Address
66 BUCKINGHAM GATE
LONDON, X0 SW1E 6AU
Phone
44 207 808 1210
Filing Manager
Lindsell Train Ltd
London, X0
Signatory
Mathew McNeill
Chief Compliance Officer