Michael Lindsell, Nick Train - Lindsell Train 13F Activity & Position Changes (Q4 2017)

As of Dec 31, 2017, 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 Q4 2017, the filing reported:

New Buys - None reported

Increases - Walt Disney Company (The), eBay Inc., Intuit Inc., Manchester United, Mondelez International, Inc., and 1 more

Reductions - The Kraft Heinz Company, 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
Q4 2017	DIS Walt Disney Company (The)	Walt Disney Company (The)	Buy	+217,350	+7.3%	$341.84K	3,179,579
Q4 2017	EBAY eBay Inc.	eBay Inc.	Buy	+680,000	+13.3%	$218.56K	5,791,200
Q4 2017	INTU Intuit Inc.	Intuit Inc.	Buy	+21,000	+0.9%	$377.22K	2,390,800
Q4 2017	KHC The Kraft Heinz Company	The Kraft Heinz Company	Sell	-20,000	-7.1%	$20.30K	261,000
Q4 2017	MANU Manchester United	Manchester United	Buy	+269,188	+3.6%	$153.19K	7,737,017
Q4 2017	MDLZ Mondelez International, Inc.	Mondelez International, Inc.	Buy	+2,147,250	+10.8%	$945.79K	22,097,960
Q4 2017	PEP Pepsico, Inc.	Pepsico, Inc.	Buy	+208,000	+8.7%	$310.83K	2,592,000
Q4 2017	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Sell	-156,250	-2.5%	$445.51K	6,051,517