Lindsell Train Portfolio Focus: Tech & Comm Services Dominance
Michael Lindsell's Lindsell Train portfolio, as of March 31, 2026, shows a clear concentration in Communication Services and Technology stocks.
Portfolio Overview
The portfolio managed by Michael Lindsell at Lindsell Train, as of March 31, 2026, demonstrates a distinct investment focus. The holdings are heavily concentrated in specific sectors, particularly Communication Services and Technology, with several large-cap names forming the core of the portfolio.
Top Holdings by Value
The largest positions by total stock value in the portfolio are:
- TKO (Ticketmaster): $493.9M allocation, representing 15.75% of the portfolio.
- GOOGL (Alphabet): $490.2M allocation, representing 15.63% of the portfolio.
- INTU (Intuit): $317.2M allocation, representing 10.11% of the portfolio.
- DIS (Disney): $309.0M allocation, representing 9.85% of the portfolio.
- TMO (Thermo Fisher Scientific): $303.4M allocation, representing 9.67% of the portfolio.
- FICO (Fair Isaac): $266.3M allocation, representing 8.49% of the portfolio.
High Sector Concentration
The portfolio exhibits significant concentration within the Technology and Communication Services sectors:
- Communication Services: Includes major holdings like TKO, GOOGL, DIS, and INTU (which is Technology). This sector accounts for a substantial portion of the portfolio's value.
- Technology: Features strong allocations to INTU (10.11%) and FICO (8.49%), adding to the overall concentration in growth-oriented tech companies.
Recent Changes in Holdings
Several holdings show notable changes compared to the previous period:
- GOOGL: Experienced a significant decrease in shares (-18.38%) and value.
- TKO: Also saw a substantial reduction in shares (-13.15%) and value.
- DIS: Holdings decreased by -7.91%.
- TMO: Holdings decreased by -10.48%.
- INTU: Holdings increased by +20.23%, indicating a growing confidence in this stock.
- FICO: Holdings increased by +15.16%, showing continued interest in this technology stock.
Investment Strategy Analysis
The portfolio's structure suggests an investment strategy focused on large-cap technology and media companies. The significant allocation to Communication Services (including major players like Disney and Alphabet) and Technology (including Intuit and Fair Isaac) indicates a preference for established, growth-oriented firms in these sectors. The strategy appears to favor companies with strong market positions and potential for continued growth, while also showing selective growth in specific technology holdings like Intuit and Fair Isaac.