Michael Lindsell, Nick Train - Lindsell Train 13F Activity & Position Changes (Q2 2018)

According to the SEC 13F filed on Jul 15, 2026, the Lindsell Train portfolio showed several notable changes in holdings as of quarter-end Jun 30, 2018. 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 Q2 2018, the filing reported:

New Buys - None reported

Increases - Walt Disney Company (The), eBay Inc., Manchester United, Mondelez International, Inc., Pepsico, Inc.

Reductions - Brown Forman Inc, Brown Forman Inc, Intuit Inc., PayPal Holdings, Inc.

Complete Exits - The Kraft Heinz Company

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
Q2 2018	BF-A Brown Forman Inc	Brown Forman Inc	Sell	-8,230	-0.5%	$75.68K	1,549,007
Q2 2018	BF-B Brown Forman Inc	Brown Forman Inc	Sell	-164,509	-42.3%	$11.02K	224,800
Q2 2018	DIS Walt Disney Company (The)	Walt Disney Company (The)	Buy	+315,050	+8.4%	$425.91K	4,063,629
Q2 2018	EBAY eBay Inc.	eBay Inc.	Buy	+317,000	+5.4%	$223.27K	6,157,400
Q2 2018	INTU Intuit Inc.	Intuit Inc.	Sell	-400,400	-16.3%	$420.42K	2,057,800
Q2 2018	KHC The Kraft Heinz Company	The Kraft Heinz Company	Sell - Position Exit	-78,000	-100.0%	$0.00	-
Q2 2018	MANU Manchester United	Manchester United	Buy	+182,130	+2.3%	$166.92K	8,102,771
Q2 2018	MDLZ Mondelez International, Inc.	Mondelez International, Inc.	Buy	+2,114,548	+9.0%	$1.05M	25,586,008
Q2 2018	PEP Pepsico, Inc.	Pepsico, Inc.	Buy	+298,000	+9.4%	$378.11K	3,473,000
Q2 2018	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Sell	-556,000	-8.6%	$493.08K	5,921,517