Lindsell Train Ltd

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Lindsell Train Ltd reported 29 stock positions worth $3.6 billion. Its top holding was Tko (TKO) at 14.4% of the portfolio, followed by Intuit (INTU, 12.6%) and Fair Isaac (FICO, 12.3%). Compared with Q4 2024, it opened 2 new positions, sold out of 1, added to 1 and reduced 11. The biggest buy was Thermo Fisher Scientific (TMO, shares +25%) and the biggest sale PayPal (PYPL, shares −3%).

Most Recent 13F
Q2 2026
Location
London, X0
CIK
0001484150
Portfolio Value
$3.6B (Q1 2025)
SEC Filing
0001172661-25-001932 ↗ filed May 15, 2025

Holdings Value

0$1.0B$2.0B$3.0B$4.0B$5.0B Q1 2024: $4.8B Q1 2024 Q2 2024: $4.3B Q2 2024 Q3 2024: $4.4B Q3 2024 Q4 2024: $4.0B Q4 2024 Q1 2025: $3.6B $3.6B Q1 2025 Q2 2025: $4.2B Q2 2025 Q3 2025: $4.1B Q3 2025 Q4 2025: $3.9B Q4 2025 Q1 2026: $3.1B Q1 2026 Q2 2026: $2.6B Q2 2026

Holdings 29 stocks · $3.6B
TKO Tko Group Holdings Inc. 14.35% 3,394,377 $518.7M Reduce -6.6%
INTU Intuit Inc. 12.59% 741,017 $455.0M Reduce -3.7%
FICO Fair Isaac Corp. 12.26% 240,300 $443.2M Reduce -6.0%
DIS The Walt Disney Co. filed as DISNEY WALT CO 11.69% 4,280,841 $422.5M Reduce -4.0%
MDLZ Mondelez International Inc. Class A 11.30% 6,018,722 $408.4M Reduce -28.4%
PEP Pepsico Inc. 10.18% 2,454,237 $368.0M Reduce -4.0%
PYPL PayPal Holdings Inc. 7.53% 4,171,092 $272.2M Reduce -2.6%
TMO Thermo Fisher Scientific Inc. 7.01% 508,790 $253.2M Add +24.9%
EBAY eBay Inc. 6.32% 3,370,021 $228.3M Reduce -7.6%
BF.A Brown-Forman Corp. Class A 2.55% 2,752,327 $92.1M Reduce -1.6%
MANU Manchester United PLC Class A 1.83% 5,053,000 $66.1M Reduce -12.5%
BF.B Brown-Forman Corp. Class B 1.48% 1,575,426 $53.5M Reduce -3.6%
V Visa Inc. Class A 0.11% 11,200 $3.9M No change
AXP American Express Co. 0.09% 11,600 $3.1M No change
SPGI S&P Global Inc. 0.08% 5,900 $3.0M No change
GOOGL Alphabet Inc. Class A 0.08% 18,225 $2.8M New
ORCL Oracle Corp. 0.07% 19,200 $2.7M No change
EFX Equifax Inc. 0.07% 10,300 $2.5M No change
CME Cme Group Inc. 0.06% 8,600 $2.3M No change
VRSK Verisk Analytics Inc. 0.06% 7,300 $2.2M No change
CL Colgate-Palmolive Co. 0.05% 20,100 $1.9M No change
KO The Coca-Cola Co. 0.04% 21,100 $1.5M No change
ADBE Adobe Inc. 0.04% 3,560 $1.4M No change
NKE Nike Inc. Class B 0.04% 20,400 $1.3M No change
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.03% 12,000 $1.1M No change
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.03% 14,425 $952K No change
HSY The Hershey Co. 0.02% 5,100 $872K No change
CP Canadian Pacific Kansas City 0.02% 12,150 $853K New
MSGS Madison Square Garden Sports 0.02% 3,300 $643K No change

Portfolio Sells Q4 2024 → Q1 2025
PYPL PayPal Holdings Inc. Reduce -2.6% 7.53% −1.61
MDLZ Mondelez International Inc. Class A Reduce -28.4% 11.30% −1.26
DIS The Walt Disney Co. Reduce -4.0% 11.69% −0.72
MANU Manchester United PLC Class A Reduce -12.5% 1.83% −0.67
FICO Fair Isaac Corp. Reduce -6.0% 12.26% −0.45
BF.A Brown-Forman Corp. Class A Reduce -1.6% 2.55% −0.09
GOOG Alphabet Inc. Class C Sold out 0.00% −0.08
BF.B Brown-Forman Corp. Class B Reduce -3.6% 1.48% −0.07
PEP Pepsico Inc. Reduce -4.0% 10.18% +0.47
INTU Intuit Inc. Reduce -3.7% 12.59% +0.50
EBAY eBay Inc. Reduce -7.6% 6.32% +0.67
TKO Tko Group Holdings Inc. Reduce -6.6% 14.35% +1.45

Portfolio Buys Q4 2024 → Q1 2025
TMO Thermo Fisher Scientific Inc. Add +24.9% 7.01% +1.71
GOOGL Alphabet Inc. Class A New 0.08% +0.08
CP Canadian Pacific Kansas City New 0.02% +0.02

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 28$2.6BGOOGL, TKO, FICO, TMO, DIS
Q1 2026 27$3.1BTKO, GOOGL, INTU, DIS, TMO
Q4 2025 28$3.9BGOOGL, TKO, INTU, TMO, DIS
Q3 2025 28$4.1BTKO, GOOGL, DIS, INTU, TMO
Q2 2025 29$4.2BTKO, INTU, DIS, FICO, MDLZ
Q1 2025 29$3.6BTKO, INTU, FICO, DIS, MDLZ
Q4 2024 28$4.0BTKO, FICO, MDLZ, DIS, INTU
Q3 2024 29$4.4BMDLZ, FICO, INTU, TKO, DIS
Q2 2024 29$4.3BMDLZ, FICO, INTU, TKO, DIS
Q1 2024 30$4.8BMDLZ, FICO, INTU, DIS, PEP