Great investors · Nick Train
Nick Train portfolio · Q3 2026
Nick Train, co-founder of Lindsell Train. This is the stock portfolio Lindsell Train reported to the SEC (Form 13F) as of Sep 30, 2026, filed on Nov 2, 2026.
The 13F is filed by the firm, not the person: when this page says what Nick Train “owns” or “bought”, it means the positions of Lindsell Train as a whole.
What stocks does Nick Train own?
The largest positions of Lindsell Train in Q3 2026 are GOOGL, TKO, TMO, DIS, INTU.
- 1AlphabetGOOGLReduced16.4%Since Q1 2025 · 7 quartersIt bought in 3 quarters. Quarter-end prices of those quarters per 13F: $154.64 to $243.10.
- 2TKO Group HoldingsTKOReduced14.8%Since at least Q2 2013 · 54 quartersIt bought in 25 quarters. Quarter-end prices of those quarters per 13F: $10.17 to $72.32.
- 3Thermo Fisher ScientificTMOReduced12.4%Since Q4 2024 · 8 quartersIt bought in 3 quarters. Quarter-end prices of those quarters per 13F: $405.46 to $520.23.
- 4Walt DisneyDISReduced10.2%Since at least Q2 2013 · 54 quartersIt bought in 30 quarters. Quarter-end prices of those quarters per 13F: $63.16 to $175.77.
- 5IntuitINTUReduced7.3%Since at least Q2 2013 · 54 quartersIt bought in 22 quarters. Quarter-end prices of those quarters per 13F: $61.03 to $432.38.
- 6PayPal HoldingsPYPLReduced6.6%Since Q3 2015 · 45 quartersIt bought in 18 quarters. Quarter-end prices of those quarters per 13F: $31.04 to $188.58.
- 7Mondelez InternationalMDLZReduced6.2%Since at least Q2 2013 · 54 quartersIt bought in 28 quarters. Quarter-end prices of those quarters per 13F: $28.53 to $58.53.
- 8Fair IsaacFICOReduced5.3%Since Q1 2022 · 19 quartersIt bought in 5 quarters. Quarter-end prices of those quarters per 13F: $401.10 to $1,067.54.
- 9PepsicoPEPReduced5.1%Since Q2 2015 · 46 quartersIt bought in 23 quarters. Quarter-end prices of those quarters per 13F: $93.34 to $182.30.
- 10eBayEBAYReduced4.7%Since at least Q2 2013 · 54 quartersIt bought in 22 quarters. Quarter-end prices of those quarters per 13F: $23.41 to $70.21.
Where there are two tickers (e.g. GOOGL · GOOG) they are two share classes of the same company and the weight is the sum: that is why there are 27 rows here and the 13F has 28 positions.
“Since”: first quarter of the current run, unbroken until today. Prices are the quarter-end prices of the quarters in which it added shares, per the 13F. The manager may have bought at any price within each quarter; the SEC only publishes the value at quarter end.
What did Nick Train buy in Q3 2026?
- IncreasedKKRKKR+48% shares · 3.8% of portfolio
- IncreasedWarner Music GroupWMG+10% shares · 0.1% of portfolio
What did Nick Train sell in Q3 2026?
- ReducedThermo Fisher ScientificTMO−24% shares · 12.4% of portfolio
- ReducedAlphabetGOOGL−12% shares · 16.4% of portfolio
- ReducedWalt DisneyDIS−12% shares · 10.2% of portfolio
- ReducedTKO Group HoldingsTKO−7.6% shares · 14.8% of portfolio
- ReducedMondelez InternationalMDLZ−11% shares · 6.2% of portfolio
- ReducedPayPal HoldingsPYPL−7.1% shares · 6.6% of portfolio
- ReducedIntuitINTU−5.9% shares · 7.3% of portfolio
- ReducedPepsicoPEP−7.1% shares · 5.1% of portfolio
2 positions opened or added to and 16 trimmed or closed, against the previous quarter's 13F. Each is measured the same way across the page: how much the share count changed and its weight in the portfolio today (share classes of the same company added together). The 13F has 19 positions with a change, 6 of them material (0.5 points of the portfolio or more). All full exits are listed, even those that moved less than 0.5 points of the portfolio. Where an increase or cut shows no share change, it adds up two share classes of the same company (e.g. GOOGL and GOOG).
How its portfolio changed (8 quarters)
Q3 2026: 28
Q3 2026: 89%
Q3 2026: 6.0%
Traded turnover: the weight it bought plus the weight it sold in the quarter, divided by two, excluding price moves. The plain “turnover” in the header does include that effect. With a free account: the full history and sectors over time.
Source: SEC 13F filings show the portfolio at quarter end and are filed up to 45 days later: positions may have changed. They only cover U.S.-listed stocks and some others; no short positions or cash. Not investment advice.