Michael Lindsell, Nick Train - Lindsell Train 13F Activity & Position Changes (Q3 2020)

As of Sep 30, 2020, the Lindsell Train portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Nov 12, 2020. 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 2020, the filing reported:

New Buys - None reported

Increases - Brown Forman Inc, CME Group Inc., Manchester United, Pepsico, Inc.

Reductions - Walt Disney Company (The), eBay Inc., Intuit Inc., Mondelez International, Inc., PayPal Holdings, 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 2020	BF-A Brown Forman Inc	Brown Forman Inc	Buy	+30,000	+1.1%	$184.88K	2,691,833
Q3 2020	CME CME Group Inc.	CME Group Inc.	Buy	+300	+5.7%	$937.00	5,600
Q3 2020	DIS Walt Disney Company (The)	Walt Disney Company (The)	Sell	-302,002	-4.9%	$730.18K	5,884,790
Q3 2020	EBAY eBay Inc.	eBay Inc.	Sell	-420,000	-4.2%	$498.33K	9,564,871
Q3 2020	INTU Intuit Inc.	Intuit Inc.	Sell	-162,497	-6.6%	$744.69K	2,282,856
Q3 2020	MANU Manchester United	Manchester United	Buy	+72,134	+0.6%	$168.81K	11,609,826
Q3 2020	MDLZ Mondelez International, Inc.	Mondelez International, Inc.	Sell	-2,481,272	-7.7%	$1.72M	29,916,486
Q3 2020	PEP Pepsico, Inc.	Pepsico, Inc.	Buy	+40,500	+0.8%	$692.14K	4,993,824
Q3 2020	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Sell	-530,700	-9.7%	$977.07K	4,959,012