Lindsell Train

Q4 2013 13F · by Michael Lindsell, CEO

As of: Dec 31, 2013
Filed: Feb 4, 2014
US stock: $623M · prev $501M
Positions: 10 · prev 10
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves10 since the prior filing

0.0 pp in · 0.0 pp out

New 0 0.00 pp
Added 10 +0.02 pp
Trimmed 0 0.00 pp
Exited 0 0.00 pp

The book

Very concentrated · behaves like 7 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 0.0% a year

Low
Moderate
High

Top 5 positions80% of US stock

MDLZ Mondelez International, Inc. Class A added−0.41 pp added−0.4121.1%
EBAY eBay Inc added−1.95 pp added−1.9517.8%
unresolved Dr Pepper Snapple Group Inc added−0.17 pp added−0.1716.6%
DIS The Walt Disney Company added+1.20 pp added+1.2012.6%
INTU Intuit Inc added+0.54 pp added+0.5411.7%

Positions10 in this filing · 0 exited


MDLZMondelez International, Inc. Class A	21.14%	3,731,890	$132M	added+9%	−0.41 pp	3 q
EBAYeBay Inc	17.81%	2,021,900	$111M	added+14%	−1.95 pp	3 q
unresolvedDr Pepper Snapple Group Inc	16.63%	2,126,679	$104M	added+13%	−0.17 pp	3 q
DISThe Walt Disney Company	12.59%	1,026,969	$78M	added+16%	+1.20 pp	3 q
INTUIntuit Inc	11.66%	952,000	$73M	added+13%	+0.54 pp	3 q
unresolvedKraft Foods Group Inc	8.24%	951,896	$51M	added+16%	−0.40 pp	3 q
BF.ABrown-Forman Corporation Class A	5.64%	476,218	$35M	added+8%	−0.17 pp	3 q
WWEWorld Wrestling Entertainment	4.98%	1,870,100	$31M	added+8%	+1.47 pp	3 q
HSYThe Hershey Company	0.89%	56,750	$6M	added+4%	−0.12 pp	3 q
ISCAInternational Speedway Corp	0.43%	75,900	$3M	added+23%	+0.03 pp	3 q

Source

Form: 13F-HR
Reading: 0 defects · 2 unresolved
Accession: 0001484150-14-000001
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet