Great investors · Nick Train · Q2 2026
What Nick Train bought and sold in Q2 2026
Lindsell Train 13F portfolio as of Jun 30, 2026: 28 positions worth $2.6 bn. Largest: GOOGL, TKO, FICO, TMO. Filed with the SEC on Jul 15, 2026.
The 13F is filed by Lindsell Train, not by Nick Train personally: these are the whole firm's positions. A “position” is a distinct security in the filing (by CUSIP); share classes of the same company are shown added together.
Buys in Q2 2026
- NewKKRKKR+2.0 pp
Sells in Q2 2026
- ReducedAlphabetGOOGL−4.8 pp
- ReducedeBayEBAY−2.9 pp
- ReducedTKO Group HoldingsTKO−2.3 pp
- ReducedMondelez InternationalMDLZ−1.8 pp
- ReducedWalt DisneyDIS−1.8 pp
- ReducedThermo Fisher ScientificTMO−1.6 pp
- ReducedPayPal HoldingsPYPL−1.4 pp
- ReducedPepsicoPEP−1.1 pp
- ReducedFair IsaacFICO−0.9 pp
- ReducedIntuitINTU−0.6 pp
11 companies with material moves, out of 21 positions with a change. Only moves of 0.5 points of the portfolio or more are listed, measured as “traded weight” (what was bought or sold, excluding price effects). Smaller changes exist and are not listed: a position may have gone up or down without appearing above.
The full 13F, line by line
Lindsell Train's Q2 2026 13F lists 28 lines of US-listed securities worth $2.6 bn; the largest is GOOGL at 17.5% of the portfolio. It was accepted by the SEC on Jul 15, 2026 at 12:31 PM ET.
Against the previous quarter, it opened 2 positions (KKR and WMG), closed 1 (CL), added to 4 (VRSK, V, EFX and SPGI) and trimmed 14 (GOOGL, TKO, EBAY and DIS and 10 more). 8 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Alphabet GOOGL | 1.3 M | $460M | 17.5% | −25% |
| 2 | TKO Group Holdings TKO | 2.1 M | $423M | 16.1% | −14% |
| 3 | Fair Isaac FICO | 226,186 | $270M | 10.3% | −9.3% |
| 4 | Thermo Fisher Scientific TMO | 514,512 | $258M | 9.81% | −17% |
| 5 | Walt Disney DIS | 2.6 M | $251M | 9.55% | −19% |
| 6 | Intuit INTU | 666,883 | $174M | 6.62% | −9.1% |
| 7 | Mondelez International MDLZ | 2.6 M | $148M | 5.64% | −28% |
| 8 | Pepsico PEP | 1.0 M | $139M | 5.27% | −20% |
| 9 | PayPal Holdings PYPL | 3.2 M | $137M | 5.20% | −24% |
| 10 | eBay EBAY | 1.1 M | $125M | 4.74% | −42% |
| 11 | Manchester United MANU | 2.8 M | $63.3M | 2.41% | −12% |
| 12 | KKR KKR | 667,780 | $61.3M | 2.33% | new |
| 13 | Brown Forman BF/A | 2.1 M | $58.4M | 2.22% | −17% |
| 14 | Brown Forman BF/B | 1.4 M | $36.8M | 1.40% | −12% |
| 15 | Visa V | 10,500 | $3.6M | 0.14% | +1.9% |
| 16 | S&P Global SPGI | 7,400 | $3.0M | 0.11% | +1.4% |
| 17 | Canadian Pacific Kansas City CP | 30,000 | $2.6M | 0.10% | no change |
| 18 | American Express AXP | 7,600 | $2.6M | 0.10% | −16% |
| 19 | Equifax EFX | 11,800 | $1.9M | 0.07% | +2.6% |
| 20 | Verisk Analytics VRSK | 9,500 | $1.7M | 0.06% | +13% |
| 21 | CME Group CME | 6,900 | $1.5M | 0.06% | no change |
| 22 | Adobe ADBE | 7,000 | $1.4M | 0.05% | no change |
| 23 | Warner Music Group WMG | 50,000 | $1.4M | 0.05% | new |
| 24 | Oracle ORCL | 9,000 | $1.3M | 0.05% | no change |
| 25 | Estée Lauder EL | 15,000 | $1.2M | 0.05% | no change |
| 26 | Madison Square Grdn Sprt COR MSGS | 2,800 | $1.1M | 0.04% | no change |
| 27 | Coca-Cola KO | 12,000 | $975K | 0.04% | no change |
| 28 | Nike NKE | 21,000 | $862K | 0.03% | no change |
Positions it closed (1)
- Colgate-palmolive CLwas 0.03% · 10,000 shares
One row per line of the filing (by CUSIP): share classes of the same company are listed separately here. “Change in shares” compares the count with the previous quarter, split-adjusted; the value is the one reported in the 13F at quarter end, not today's price.
Original documents: Lindsell Train's 13F filings on EDGAR (SEC) ↗
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Source: 13F filings with the SEC. A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions. Not investment advice.