Michael Lindsell & Nick Train Portfolio Analysis: Top Holdings in 2026

As of March 31, 2026, the investment portfolio managed by Michael Lindsell and Nick Train, operating under the firm Lindsell Train, stands at a substantial $3.14 billion. This extensive portfolio is composed of carefully selected holdings across various sectors, with a notable focus on large-cap technology and consumer goods companies. For a detailed look at their investment approach, you can explore the full profile of Michael Lindsell at Insiderset.

The top holdings reveal a preference for established blue-chip stocks with strong market positions. Among the largest allocations are Alphabet Inc. (GOOGL), holding approximately 15.63% of the portfolio, followed closely by TikTok Group Holdings Inc. (TKO) at 15.75%. These companies, known for their dominance in digital advertising and social media, respectively, form the bedrock of this portion of the portfolio.

In the Technology sector, Intuit (INTU) and Fair Isaac Corp. (FICO) are significant components, representing about 10.11% and 8.49% of the assets, respectively. Intuit, the creator of TurboTax and QuickBooks, remains a cornerstone of the tech-focused part of the portfolio, while FICO, a leader in credit scoring, shows positive share growth of 15.16% year-over-year, indicating confidence in its business model.

The Communication Services sector extends beyond the initial two holdings to include The Walt Disney Co. (DIS), which holds a 9.85% allocation. This diversification within the media and entertainment space adds another layer to the portfolio's exposure to consumer-facing businesses. Healthcare is represented by Thermo Fisher Scientific (TMO), a major player in the life sciences industry, accounting for 9.67% of the portfolio.

Turning to Consumer Defensive stocks, Mondelez International (MDLZ) and PepsiCo (PEP) are key holdings, together representing about 16.87% of the portfolio. MDLZ, the owner of brands like Oreo and Cadbury, saw a significant reduction in its share count (-20.49%), while PepsiCo, another consumer giant, also experienced a substantial decrease in holdings (-29.12%).

Financial Services and Consumer Cyclical sectors round out the top holdings, featuring PayPal Holdings (PYPL) and eBay Inc. (EBAY). PayPal, with a 6.03% allocation, continues to facilitate global payments, while eBay, holding about 5.59% of the portfolio, remains a major online marketplace. Both companies saw slight decreases in their respective holdings during the period.

For detailed insights into each company's performance and market position, you can visit the individual profiles on Insiderset. The complete portfolio data for Lindsell Train provides further context on their investment strategy and the evolution of these positions over time.