Michael Lindsell of Lindsell Train Reduced Holdings in Tech, Comm Services Stocks
Lindsell Train's portfolio, valued at $3.94 billion as of Dec 31, 2025, saw reductions in major holdings like GOOGL and TKO, while maintaining positions in INTU and FICO.
Michael Lindsell and Nick Train, managing director of the investment firm Lindsell Train, saw their portfolio valued at approximately $3.94 billion as of December 31, 2025. The disclosed top holdings reveal a focus on large-cap technology and communication services stocks, with some notable changes in share counts during the quarter.
Communication Services stocks formed a significant part of the portfolio, accounting for roughly 31.53% of the total value. Within this sector, Alphabet Inc. (GOOGL) maintained its position as the largest holding by value, representing 16.58% of the portfolio. However, the firm reduced its stake in GOOGL by 0.04% (653,731 shares), resulting in a slight decrease in its value. Similarly, TKO Group Holdings (TKO) saw a reduction of 0.05% (13,450 shares), leading to a small decrease in its value. Disney (DIS) also experienced a reduction, with a 0.07% decrease in shares (244,000 shares) and a corresponding decrease in value.
The Technology sector, comprising 20.08% of the portfolio, included significant positions in Intuit (INTU) and Fair Isaac Corp. (FICO). Lindsell Train maintained its position in INTU, which accounted for 10.25% of the portfolio, despite a small reduction of 0.0004% (1559 shares). The value of this position decreased slightly. The firm also held FICO, representing 9.29% of the portfolio, though it reduced its stake by 0.0003% (6362 shares), leading to a small decrease in value.
Consumer-focused stocks also featured prominently. Mondelez International (MDLZ) and PepsiCo (PEP) together accounted for about 15.68% of the portfolio. Both saw significant reductions: MDLZ shares decreased by 1.09% (548,933 shares) and its value decreased, while PEP shares decreased by 18.15% (399,700 shares) and its value saw a substantial decline.
Other notable holdings included Therapeutic Goods (TMO) in Healthcare, PayPal (PYPL) in Financial Services, and consumer cyclical stocks like eBay (EBAY). TMO and PYPL also saw reductions in their share counts during the quarter. The remaining top holdings were in Consumer Defensive stocks (MDLZ and PEP) and Consumer Cyclical (EBAY).
No new positions were disclosed in these top holdings compared to the previous period. There is no indication of any fully exited positions among the top holdings listed. For more information on Michael Lindsell's investment activities, visit Lindsell Train's profile. Detailed analysis of individual stocks like Alphabet Inc., TKO Group Holdings, and Intuit can be found on Insiderset.