Michael Lindsell, Nick Train – Lindsell Train Portfolio Activity & Recent Trades (Dec 31, 2025)
As of Dec 31, 2025, the Lindsell Train portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Feb 11, 2026. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.
During Q4 2025, the filing reported:
New Buys –
None reported
Increases – Adobe Inc., Canadian Pacific Kansas City Li, Equifax, Inc., S&P Global Inc.
Reductions – American Express Company, Colgate-Palmolive Company, Walt Disney Company (The), eBay Inc., Fair Isaac Corporation, and 9 more
Complete Exits –
None reported
These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.
| Date | Symbol | Name | Type | Change Qty | % Change | Value | Remaining |
|---|---|---|---|---|---|---|---|
Q4 2025 | ADBE Adobe Inc. | Adobe Inc. | Buy | +800 | +17.8% | $1.85M | 5,300 |
Q4 2025 | AXP American Express Company | American Express Company | Sell | -400 | -3.9% | $3.63M | 9,800 |
Q4 2025 | CL Colgate-Palmolive Company | Colgate-Palmolive Company | Sell | -400 | -2.7% | $1.15M | 14,600 |
Q4 2025 | CP Canadian Pacific Kansas City Li | Canadian Pacific Kansas City Li | Buy | +1,500 | +5.3% | $2.21M | 30,000 |
Q4 2025 | DIS Walt Disney Company (The) | Walt Disney Company (The) | Sell | -244,000 | -6.5% | $396.13M | 3,481,830 |
Q4 2025 | EBAY eBay Inc. | eBay Inc. | Sell | -376,000 | -15.3% | $181.09M | 2,079,079 |
Q4 2025 | EFX Equifax, Inc. | Equifax, Inc. | Buy | +500 | +4.8% | $2.39M | 11,000 |
Q4 2025 | FICO Fair Isaac Corporation | Fair Isaac Corporation | Sell | -6,362 | -2.9% | $366.18M | 216,593 |
Q4 2025 | GOOGL Alphabet Inc. | Alphabet Inc. | Sell | -145,500 | -6.5% | $653.73M | 2,088,598 |
Q4 2025 | INTU Intuit Inc. | Intuit Inc. | Sell | -1,559 | -0.3% | $404.24M | 610,251 |
Q4 2025 | KO Coca-Cola Company (The) | Coca-Cola Company (The) | Sell | -1,500 | -8.1% | $1.19M | 17,000 |
Q4 2025 | MANU Manchester United | Manchester United | Sell | -780,000 | -17.8% | $57.26M | 3,596,500 |
Q4 2025 | MDLZ Mondelez International, Inc. | Mondelez International, Inc. | Sell | -548,933 | -10.9% | $241.15M | 4,479,854 |
Q4 2025 | PEP Pepsico, Inc. | Pepsico, Inc. | Sell | -399,700 | -18.2% | $258.62M | 1,801,971 |
Q4 2025 | PYPL PayPal Holdings, Inc. | PayPal Holdings, Inc. | Sell | -185,000 | -4.1% | $250.95M | 4,298,618 |
Q4 2025 | SPGI S&P Global Inc. | S&P Global Inc. | Buy | +300 | +4.6% | $3.55M | 6,800 |
Q4 2025 | TKO TKO Group Holdings, Inc. | TKO Group Holdings, Inc. | Sell | -134,500 | -4.6% | $589.42M | 2,820,204 |
Q4 2025 | TMO Thermo Fisher Scientific Inc | Thermo Fisher Scientific Inc | Sell | -128,026 | -15.7% | $399.53M | 689,503 |
Q3 2025 | ADBE Adobe Inc. | Adobe Inc. | Buy | +940 | +26.4% | $1.59M | 4,500 |
Q3 2025 | BF-A Brown Forman Inc | Brown Forman Inc | Buy | +9,399 | +0.3% | $73.81M | 2,742,740 |
Q3 2025 | CP Canadian Pacific Kansas City Li | Canadian Pacific Kansas City Li | Buy | +15,200 | +114.3% | $2.12M | 28,500 |
Q3 2025 | DIS Walt Disney Company (The) | Walt Disney Company (The) | Sell | -361,446 | -8.8% | $426.61M | 3,725,830 |
Q3 2025 | EBAY eBay Inc. | eBay Inc. | Sell | -829,575 | -25.3% | $223.29M | 2,455,079 |
Q3 2025 | EFX Equifax, Inc. | Equifax, Inc. | Buy | +200 | +1.9% | $2.69M | 10,500 |
Q3 2025 | EL Estee Lauder Companies, Inc. (T | Estee Lauder Companies, Inc. (T | Buy | +1,075 | +7.5% | $1.37M | 15,500 |
Q3 2025 | FICO Fair Isaac Corporation | Fair Isaac Corporation | Sell | -159 | -0.1% | $333.66M | 222,955 |
Q3 2025 | GOOGL Alphabet Inc. | Alphabet Inc. | Buy | +205,875 | +10.2% | $543.11M | 2,234,098 |
Q3 2025 | HSY The Hershey Company | The Hershey Company | Sell - Position Exit | -5,100 | -100.0% | $0.00 | - |
Q3 2025 | INTU Intuit Inc. | Intuit Inc. | Sell | -53,976 | -8.1% | $417.81M | 611,810 |
Q3 2025 | KO Coca-Cola Company (The) | Coca-Cola Company (The) | Sell | -500 | -2.6% | $1.23M | 18,500 |