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 highlighted by significant concentrations in leading technology and communications companies, reflecting a strategic approach focused on established industry leaders.

Among the top holdings, Alphabet Inc. (GOOGL) maintains a strong position with a portfolio allocation of 15.63%. This stake has seen a reduction in the number of shares held, decreasing by 18.38% compared to the previous period, indicating a potential strategic shift or rebalancing activity.

Tko Group Holdings Inc. (TKO) follows closely with a 15.75% allocation. Similar to GOOGL, the holding in TKO has decreased, with a 13.15% reduction in shares, suggesting a consistent trend of selective reduction in these large-cap technology and communications stocks.

Intuit (INTU) represents a significant Technology holding at 10.11% allocation. Notably, this position has seen an increase, with a 20.23% rise in shares during the prior period, highlighting a clear conviction in the company's growth potential.

Thermo Fisher Scientific (TMO), another key holding in the Healthcare sector, accounts for 9.67% of the portfolio. The investment has experienced a slight decrease, with a 10.48% reduction in shares, though the position remains substantial.

Continuing with the Technology sector, Fair Isaac Corp. (FICO) holds an 8.49% allocation. This stake has shown positive momentum, increasing by 15.16% in shares, indicating confidence in the company's performance and market position.

In the Consumer Defensive space, Mondelez International (MDLZ) holds 6.55% of the portfolio. This allocation has faced significant reduction, with a 20.49% decrease in shares, reflecting a substantial divestment from the consumer goods giant.

Pepperidge Farm (PEP) also falls under Consumer Defensive with a 6.32% allocation. This holding has similarly decreased, with a 29.12% reduction in shares, showing another major shift away from consumer staples.

PayPal Holdings (PYPL), allocated at 6.03%, has seen a modest decline in its share count, decreasing by 2.77% during the prior period.

Lastly, eBay Inc. (EBAY) holds a 5.59% allocation and has also experienced a decrease in shares, down by 7.29%.

For detailed insights into the investment strategies and performance of Lindsell Train, visit their investor profile at https://www.insiderset.com/investor/michael-lindsell-lindsell-train. For specific information on any of the companies mentioned, such as TKO, GOOGL, INTU, DIS, TMO, FICO, MDLZ, PEP, PYPL, or EBAY, explore their respective profiles at company symbol links.