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Lindsell Train

Q4 2015 13F · by Michael Lindsell, CEO

As of
Dec 31, 2015
Filed
Feb 4, 2016
US stock
$1.7B · prev $1.5B
Positions
11 · prev 11
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%

Moves9 since the prior filing

The book

Very concentrated · behaves like 7 equal-sized positions

  1. Very concentrated
  2. Concentrated
  3. Focused
  4. Diversified

Low turnover · 0.1% a year, more than 30 years per position

  1. Low
  2. Moderate
  3. High

Top 5 positions73% of US stock

  1. MDLZ Mondelez International, Inc. Class A added−0.61 pp added−0.6125.6%
  2. unresolved Dr Pepper Snapple Group Inc trimmed+0.48 pp trimmed+0.4815.5%
  3. DIS The Walt Disney Company added−0.94 pp added−0.9410.6%
  4. INTU Intuit Inc added−0.47 pp added−0.4710.5%
  5. PYPL PayPal Holdings, Inc. added+1.58 pp added+1.5810.5%

Positions11 in this filing · 0 exited

MDLZMondelez International, Inc. Class A25.64%9,544,519$428Madded+4%−0.61 pp11 q
unresolvedDr Pepper Snapple Group Inc15.50%2,776,179$259Mtrimmed−0%+0.48 pp11 q
DISThe Walt Disney Company10.60%1,683,369$177Madded+2%−0.94 pp11 q
INTUIntuit Inc10.51%1,817,700$175Madded0%−0.47 pp11 q
PYPLPayPal Holdings, Inc.10.50%4,844,600$175Madded+15%+1.58 pp2 q
PEPPepsiCo, Inc.6.68%1,116,850$112Madded+10%+0.12 pp3 q
WWEWorld Wrestling Entertainment5.96%5,572,681$99Madded+12%+0.21 pp11 q
EBAYeBay Inc5.52%3,351,600$92Madded+8%+0.34 pp11 q
KHCThe Kraft Heinz Company4.21%966,983$70Madded+6%−0.21 pp2 q
BF.ABrown-Forman Corporation Class A4.12%625,218$69Mheld—11 q
ISCAInternational Speedway Corp0.76%378,500$13Mheld—11 q

Source

Form
13F-HR
Reading
0 defects · 1 unresolved
Accession
0001484150-16-000007
Options
none in this filing
Notes
none in this filing
SEC cross-check
SEC data set not published yet