Investor: Michael Lindsell & Nick Train
Number of Assets: 27
Reporting Period: Q1 - 2026
Holdings at Report: $3,136,812,519
Return Since Report: +$180,709,640
Return Since Report: +5.76%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Alphabet Inc. (GOOGL) | Equity | -18.38% | 1,704,639 | 15.63% | $287.56 | $396.78 | $490,185,991 | $676,366,662 | +$186,180,671 | +37.98% |
| CME Group Inc. (CME) | Equity | -6.76% | 6,900 | 0.06% | $295.35 | $298.86 | $2,037,915 | $2,062,134 | +$24,219 | +1.19% |
| The Walt Disney Company (DIS) | Equity | -7.91% | 3,206,407 | 9.85% | $96.38 | $102.72 | $309,033,507 | $329,362,127 | +$20,328,620 | +6.58% |
| Fair Isaac Corp. (FICO) | Equity | +15.16% | 249,422 | 8.49% | $1,067.54 | $1,098.59 | $266,267,962 | $274,012,515 | +$7,744,553 | +2.91% |
| Madison Square Garden Sports Corp. (MSGS) | Equity | -15.15% | 2,800 | 0.03% | $321.40 | $351.54 | $899,920 | $984,312 | +$84,392 | +9.38% |
| Nike Inc. (NKE) | Equity | +1.96% | 20,800 | 0.04% | $52.82 | $41.88 | $1,098,656 | $871,104 | -$227,552 | -20.71% |
| Pepsico Inc. (PEP) | Equity | -29.12% | 1,277,185 | 6.32% | $155.29 | $149.12 | $198,334,059 | $190,453,827 | -$7,880,232 | -3.97% |
| Tko Group Holdings Inc. (TKO) | Equity | -13.15% | 2,449,468 | 15.75% | $201.65 | $190.07 | $493,935,222 | $465,570,383 | -$28,364,839 | -5.74% |
| Adobe Inc. (ADBE) | Equity | +32.08% | 7,000 | 0.05% | $243.08 | $247.60 | $1,701,560 | $1,733,200 | +$31,640 | +1.86% |
| Canadian Pacific Kansas City Limited (CP) | Equity | 0% | 30,000 | 0.08% | $78.66 | $85.07 | $2,359,800 | $2,552,100 | +$192,300 | +8.15% |
| Colgate-Palmolive Company (CL) | Equity | -31.51% | 10,000 | 0.03% | $85.23 | $88.13 | $852,300 | $881,300 | +$29,000 | +3.40% |
| Equifax Inc. (EFX) | Equity | +4.55% | 11,500 | 0.07% | $180.07 | $158.37 | $2,070,805 | $1,821,255 | -$249,550 | -12.05% |
| The Estée Lauder Companies Inc. (EL) | Equity | -3.23% | 15,000 | 0.03% | $71.77 | $80.28 | $1,076,550 | $1,204,200 | +$127,650 | +11.86% |
| Mondelez International Inc. (MDLZ) | Equity | -20.49% | 3,561,964 | 6.55% | $57.64 | $60.44 | $205,311,605 | $215,285,104 | +$9,973,499 | +4.86% |
| Paypal Holdings Inc. (PYPL) | Equity | -2.77% | 4,179,623 | 6.03% | $45.23 | $44.41 | $189,044,348 | $185,617,057 | -$3,427,291 | -1.81% |
| Thermo Fisher Scientific Inc. (TMO) | Equity | -10.48% | 617,211 | 9.67% | $491.53 | $438.34 | $303,377,723 | $270,548,270 | -$32,829,453 | -10.82% |
| Visa Inc. (V) | Equity | +3.00% | 10,300 | 0.10% | $302.24 | $325.75 | $3,113,072 | $3,355,225 | +$242,153 | +7.78% |
| American Express Company (AXP) | Equity | -8.16% | 9,000 | 0.09% | $302.48 | $313.48 | $2,722,320 | $2,821,320 | +$99,000 | +3.64% |
| Brown-Forman Corp. (BF-A) | Equity | -5.74% | 2,585,222 | 2.21% | $26.79 | $27.36 | $69,258,097 | $70,731,674 | +$1,473,577 | +2.13% |
| Brown-Forman Corp. (BF-B) | Equity | -4.47% | 1,576,049 | 1.33% | $26.44 | $26.38 | $41,670,736 | $41,576,173 | -$94,563 | -0.23% |
| The Coca-Cola Company (KO) | Equity | -29.41% | 12,000 | 0.03% | $76.05 | $80.83 | $912,600 | $969,960 | +$57,360 | +6.29% |
| Ebay Inc. (EBAY) | Equity | -7.29% | 1,927,485 | 5.59% | $91.02 | $116.13 | $175,439,685 | $223,838,833 | +$48,399,148 | +27.59% |
| Intuit Inc. (INTU) | Equity | +20.23% | 733,699 | 10.11% | $432.38 | $393.00 | $317,236,774 | $288,343,707 | -$28,893,067 | -9.11% |
| Manchester United PLC (MANU) | Equity | -12.64% | 3,142,000 | 1.68% | $16.82 | $19.26 | $52,848,440 | $60,514,920 | +$7,666,480 | +14.51% |
| Oracle Corp. (ORCL) | Equity | 0% | 9,000 | 0.04% | $147.11 | $192.98 | $1,323,990 | $1,736,820 | +$412,830 | +31.18% |
| S&P Global Inc. (SPGI) | Equity | +7.35% | 7,300 | 0.10% | $425.34 | $403.09 | $3,104,982 | $2,942,557 | -$162,425 | -5.23% |
| Verisk Analytics Inc. (VRSK) | Equity | +12.00% | 8,400 | 0.05% | $189.75 | $162.55 | $1,593,900 | $1,365,420 | -$228,480 | -14.33% |