Michael Lindsell, Nick Train - Lindsell Train 13F Activity & Position Changes (Q3 2019)

As of Sep 30, 2019, 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 2019, the filing reported:

New Buys - None reported

Increases - Brown Forman Inc, Walt Disney Company (The), eBay Inc., Pepsico, Inc., PayPal Holdings, Inc.

Reductions - Intuit Inc., Manchester United, Mondelez International, 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 2019	BF-A Brown Forman Inc	Brown Forman Inc	Buy	+27,003	+1.2%	$138.23K	2,317,305
Q3 2019	DIS Walt Disney Company (The)	Walt Disney Company (The)	Buy	+171,317	+3.3%	$705.69K	5,417,568
Q3 2019	EBAY eBay Inc.	eBay Inc.	Buy	+43,700	+0.4%	$398.32K	10,218,600
Q3 2019	INTU Intuit Inc.	Intuit Inc.	Sell	-13,900	-0.5%	$672.18K	2,529,079
Q3 2019	MANU Manchester United	Manchester United	Sell	-4,707	-0.0%	$183.79K	11,199,854
Q3 2019	MDLZ Mondelez International, Inc.	Mondelez International, Inc.	Sell	-1,406,696	-4.2%	$1.78M	32,237,323
Q3 2019	PEP Pepsico, Inc.	Pepsico, Inc.	Buy	+196,363	+4.3%	$651.26K	4,749,546
Q3 2019	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Buy	+623,921	+9.2%	$763.60K	7,371,352