Michael Lindsell, Nick Train - Lindsell Train 13F Activity & Position Changes (Q3 2015)

As of Sep 30, 2015, the Lindsell Train portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Apr 24, 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 Q3 2015, the filing reported:

New Buys - The Kraft Heinz Company, PayPal Holdings, Inc.

Increases - Brown Forman Inc, Walt Disney Company (The), Intuit Inc., Mondelez International, Inc., Pepsico, Inc.

Reductions - eBay Inc.

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
Q3 2015	BF-A Brown Forman Inc	Brown Forman Inc	Buy	+13,000	+2.1%	$66.89K	625,218
Q3 2015	DIS Walt Disney Company (The)	Walt Disney Company (The)	Buy	+183,000	+12.5%	$168.92K	1,652,869
Q3 2015	EBAY eBay Inc.	eBay Inc.	Sell	-606,000	-16.3%	$75.78K	3,100,600
Q3 2015	INTU Intuit Inc.	Intuit Inc.	Buy	+237,200	+15.1%	$160.70K	1,810,700
Q3 2015	KHC The Kraft Heinz Company	The Kraft Heinz Company	Buy - Position Entry	+916,483	-	$64.69K	916,483
Q3 2015	MDLZ Mondelez International, Inc.	Mondelez International, Inc.	Buy	+478,000	+5.5%	$384.36K	9,179,786
Q3 2015	PEP Pepsico, Inc.	Pepsico, Inc.	Buy	+118,850	+13.2%	$96.08K	1,018,850
Q3 2015	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Buy - Position Entry	+4,205,600	-	$130.54K	4,205,600