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Lindsell Train

Q3 2016 13F · by Michael Lindsell, CEO

As of
Sep 30, 2016
Filed
Oct 31, 2016
US stock
$2.0B · prev $1.8B
Positions
11 · prev 11
Options notional
$0
Documents
1· 1 amendment

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 · 1.4% a year, more than 30 years per position

  1. Low
  2. Moderate
  3. High

Top 5 positions70% of US stock

  1. MDLZ Mondelez International, Inc. Class A added−0.26 pp added−0.2625.3%
  2. unresolved Dr Pepper Snapple Group Inc trimmed−2.16 pp trimmed−2.1612.3%
  3. PYPL PayPal Holdings, Inc. added+1.20 pp added+1.2011.9%
  4. INTU Intuit Inc added−0.36 pp added−0.3611.1%
  5. DIS The Walt Disney Company added+0.01 pp added+0.0110.0%

Revealed late, restated

restated 11 rows corrected by the filer; later quarters recomputed 13F-HR/A · Oct 31, 2016 ↗

Positions11 in this filing · 0 exited

MDLZMondelez International, Inc. Class A25.28%11,640,310$511Madded+13%−0.26 pp14 q
unresolvedDr Pepper Snapple Group Inc12.30%2,723,579$249Mtrimmed−1%−2.16 pp14 q
PYPLPayPal Holdings, Inc.11.89%5,866,783$240Madded+9%+1.20 pp5 q
INTUIntuit Inc11.06%2,032,200$224Madded+8%−0.36 pp14 q
DISThe Walt Disney Company9.96%2,167,341$201Madded+16%+0.01 pp14 q
PEPPepsiCo, Inc.8.45%1,570,650$171Madded+22%+1.00 pp6 q
WWEWorld Wrestling Entertainment6.55%6,217,681$132Madded+2%+0.42 pp14 q
EBAYeBay Inc6.34%3,895,200$128Mtrimmed−4%+1.18 pp14 q
KHCThe Kraft Heinz Company4.30%969,983$87Mheld—5 q
BF.ABrown-Forman Corporation Class A3.09%1,254,436$62Madded×2.0−0.60 pp14 q
ISCAInternational Speedway Corp0.77%465,200$16Mheld—14 q

Source

Form
13F-HR/A
Reading
0 defects · 1 unresolved
Accession
0001484150-16-000012
Options
none in this filing
Notes
none in this filing
SEC cross-check
SEC data set not published yet