In Q2 2026, Lindsell Train held 27 US-listed stocks worth $2.6bn. Its biggest move was cutting Intuit (9% fewer shares, now 6.6%), followed by buying KKR & Co. (now 2.3% of the portfolio). It started 2 new positions and sold out of 1. Its largest holding is Alphabet at 17%.
Q2 2026, filed 15 Jul 2026 (filing): 2 new, 5 added to, 13 trimmed, 1 sold out. Select a row to see it over time.How this works
Changes compare share counts with Q1 2026, adjusted for stock splits. Share classes of the same company are combined. Values are at quarter-end prices.
13F holdings with change from the previous quarter
Each bar is one 13F. Select a bar or press play to see that quarter’s 12 largest positions.How this works
Bars are split by share of the US portfolio: the six biggest holdings over the period in colour, everything else in grey. The last eight quarters are shown in full, earlier years at year end.
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Q4 ’24
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MDLZINTUDISPYPLPEPEBAYEverything else
2013: Mondelez International 21.1%, Intuit 11.7%, Walt Disney 12.6%, Paypal Holdings 0.0%, Pepsico 0.0%, Ebay 17.8%; 2014: Mondelez International 23.2%, Intuit 12.1%, Walt Disney 12.8%, Paypal Holdings 0.0%, Pepsico 0.0%, Ebay 17.4%; 2015: Mondelez International 25.6%, Intuit 10.5%, Walt Disney 10.6%, Paypal Holdings 10.5%, Pepsico 6.7%, Ebay 5.5%; 2016: Mondelez International 25.8%, Intuit 11.2%, Walt Disney 10.2%, Paypal Holdings 11.7%, Pepsico 8.5%, Ebay 6.4%; 2017: Mondelez International 27.2%, Intuit 10.8%, Walt Disney 9.8%, Paypal Holdings 12.8%, Pepsico 8.9%, Ebay 6.3%; 2018: Mondelez International 29.7%, Intuit 10.5%, Walt Disney 11.7%, Paypal Holdings 13.1%, Pepsico 9.5%, Ebay 6.0%; 2019: Mondelez International 29.1%, Intuit 11.5%, Walt Disney 12.8%, Paypal Holdings 13.4%, Pepsico 10.8%, Ebay 6.5%; 2020: Mondelez International 25.7%, Intuit 12.4%, Walt Disney 14.3%, Paypal Holdings 15.9%, Pepsico 11.0%, Ebay 6.9%; 2021: Mondelez International 25.4%, Intuit 14.5%, Walt Disney 12.4%, Paypal Holdings 11.5%, Pepsico 12.4%, Ebay 8.3%; 2022: Mondelez International 25.3%, Intuit 10.8%, Walt Disney 9.0%, Paypal Holdings 7.2%, Pepsico 12.2%, Ebay 5.9%; 2023: Mondelez International 23.7%, Intuit 13.3%, Walt Disney 9.7%, Paypal Holdings 6.3%, Pepsico 10.7%, Ebay 4.7%; Q3 ’24: Mondelez International 17.0%, Intuit 12.8%, Walt Disney 11.8%, Paypal Holdings 8.1%, Pepsico 10.6%, Ebay 6.0%; Q4 ’24: Mondelez International 12.6%, Intuit 12.1%, Walt Disney 12.4%, Paypal Holdings 9.1%, Pepsico 9.7%, Ebay 5.7%; Q1 ’25: Mondelez International 10.2%, Intuit 11.4%, Walt Disney 10.6%, Paypal Holdings 6.8%, Pepsico 9.2%, Ebay 5.7%; Q2 ’25: Mondelez International 9.1%, Intuit 12.4%, Walt Disney 11.9%, Paypal Holdings 7.9%, Pepsico 7.5%, Ebay 5.8%; Q3 ’25: Mondelez International 7.7%, Intuit 10.3%, Walt Disney 10.5%, Paypal Holdings 7.4%, Pepsico 7.6%, Ebay 5.5%; Q4 ’25: Mondelez International 6.1%, Intuit 10.3%, Walt Disney 10.1%, Paypal Holdings 6.4%, Pepsico 6.6%, Ebay 4.6%; Q1 ’26: Mondelez International 6.5%, Intuit 10.1%, Walt Disney 9.8%, Paypal Holdings 6.0%, Pepsico 6.3%, Ebay 5.6%; Q2 ’26: Mondelez International 5.6%, Intuit 6.6%, Walt Disney 9.6%, Paypal Holdings 5.2%, Pepsico 5.3%, Ebay 4.7%
Q1 Q2 Q3 Q4 · each quarter is that quarter’s profits times the stake reported at its end. *2026 so far: 2 quarters. Click a quarter to see its holdings.
Net income is as reported (GAAP), so it includes one-off items and, for some companies, gains or losses on investments they hold. Companies that report under IFRS (most non-US companies) or whose shares we can’t match reliably are left out; “portfolio covered” shows how much is included. Look-through earnings explained. Growth compares earnings per share over the last 12 months with the 12 months a year earlier, for holdings profitable in both.
5% stake filings
Holdings of 5% or more of a company (13D and 13G), usually reported well before the next 13F.How this works
Lindsell Train’s filings since December 2024, newest first. An amendment showing less than 5% means the holding fell below the threshold. A 13D means the holder may seek to influence the company. How to read a 13D.