Michael Lindsell, Nick Train - Lindsell Train 13F Activity & Position Changes (Q4 2020)

As of Dec 31, 2020, the Lindsell Train portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Feb 12, 2021. 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 2020, the filing reported:

New Buys - None reported

Increases - Brown Forman Inc, Mondelez International, Inc., Pepsico, Inc.

Reductions - Walt Disney Company (The), eBay Inc., Intuit Inc., Manchester United, 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 2020	BF-A Brown Forman Inc	Brown Forman Inc	Buy	+81,000	+3.0%	$203.72K	2,772,833
Q4 2020	DIS Walt Disney Company (The)	Walt Disney Company (The)	Sell	-439,050	-7.5%	$986.66K	5,445,740
Q4 2020	EBAY eBay Inc.	eBay Inc.	Sell	-120,500	-1.3%	$474.58K	9,444,371
Q4 2020	INTU Intuit Inc.	Intuit Inc.	Sell	-35,850	-1.6%	$853.52K	2,247,006
Q4 2020	MANU Manchester United	Manchester United	Sell	-42,627	-0.4%	$193.63K	11,567,199
Q4 2020	MDLZ Mondelez International, Inc.	Mondelez International, Inc.	Buy	+346,600	+1.2%	$1.77M	30,263,086
Q4 2020	PEP Pepsico, Inc.	Pepsico, Inc.	Buy	+135,200	+2.7%	$760.63K	5,129,024
Q4 2020	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Sell	-271,650	-5.5%	$1.10M	4,687,362