Michael Lindsell and Nick Train Portfolio Trends: Q4 2025 Share Changes
Michael Lindsell and Nick Train's portfolio saw widespread share reductions during the quarter ending December 2025, with significant decreases in holdings like Pepsico and Thermo Fisher Scientific.
Michael Lindsell and Nick Train, managing a portfolio valued at approximately $3.94 billion as of December 2025, saw widespread reductions in their holdings during the most recent quarter, with no positions showing significant increases or remaining unchanged.
The most substantial decrease occurred in Pepsico (PEP), where shares fell by 18.15%, representing a significant reduction in this Consumer Defensive stock which currently accounts for 6.56% of the portfolio. Similarly, Thermo Fisher Scientific (TMO) experienced a sharp 15.66% decline in holdings, impacting its 10.13% allocation, while Mondelēz International (MDLZ) saw its stake drop by 10.92%, affecting its 6.12% position.
Other notable decreases included Disney (DIS) with a 6.55% reduction, Alphabet (GOOGL) at -6.51%, and PayPal (PYPL) at -4.13%. Significant declines also occurred in Intuit (INTU) (-0.25%), Fair Isaac (FICO) (-2.85%), eBay (EBAY) (-15.32%), and TKO Group Holdings (TKO) (-4.55%).
For detailed insights into the investment strategies of Michael Lindsell and Nick Train, visit their profile on Insiderset: Michael Lindsell - Lindsell Train. For comprehensive analysis of each stock in their portfolio, explore the individual company profiles: PepsiCo (PEP), Thermo Fisher Scientific (TMO), Mondelēz International (MDLZ), and others listed in their portfolio.