Manchester United (MANU): Lindsell Train discloses 6.41% passive ownership

Rhea-AI Filing Summary

Manchester United plc received an updated ownership report showing that Lindsell Train Limited and its principals, Michael James Lindsell and Nicholas John Train, collectively report beneficial ownership of 3,596,500 Class A ordinary shares, or 6.41% of the class as of December 31, 2025. These shares are held across several managed accounts for which Lindsell Train acts as investment manager, with shared power to vote and dispose of the shares and no sole voting or dispositive power. The reporting parties state that the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Manchester United, and each disclaims beneficial ownership beyond any pecuniary interest.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 15)

MANCHESTER UNITED PLC

(Name of Issuer)

Class A ordinary shares, par value $0.0005 per share

(Title of Class of Securities)

G5784H106

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. G5784H106

1

Names of Reporting Persons

Lindsell Train Limited

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,596,500.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,596,500.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,596,500.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.41 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. G5784H106

1

Names of Reporting Persons

Mr. Michael James Lindsell

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,596,500.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,596,500.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,596,500.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.41 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP No. G5784H106

1

Names of Reporting Persons

Mr. Nicholas John Train

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,596,500.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,596,500.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,596,500.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.41 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: MANCHESTER UNITED PLC
(b)	Address of issuer's principal executive offices: Sir Matt Busby Way, Old Trafford, Manchester M16 0RA, United Kingdom
Item 2.
(a)	Name of person filing: This Schedule 13G/A is being jointly filed by Lindsell Train Limited ("the Manager"), a corporation organized under the laws of England and Wales, United Kingdom, Mr. Michael James Lindsell and Mr. Nicholas John Train with respect to the ownership of shares of Ordinary Shares of the Issuer by several separately managed accounts over which the Manager has investment discretion and voting power ("the Managed Accounts"). The Manager and Messrs. Lindsell and Train are collectively referred to in this Schedule 13G/A as the Reporting Persons.
(b)	Address or principal business office or, if none, residence: The address of the principal business office of the Manager and Messrs. Lindsell and Train is 66 Buckingham Gate, London SWIE 6AU, United Kingdom.
(c)	Citizenship: The Manager is a corporation organized under the laws of England and Wales, the United Kingdom. Messrs. Lindsell and Train are citizens of the United Kingdom.
(d)	Title of class of securities: Class A ordinary shares, par value $0.0005 per share
(e)	CUSIP No.: G5784H106
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 3,596,500
(b)	Percent of class: 6.41%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 3,596,500
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 3,596,500
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Lindsell Train Limited

Signature:	Mathew McNeill
Name/Title:	Mathew McNeill, Chief Compliance Officer
Date:	01/06/2026

Mr. Michael James Lindsell

Signature:	Mr. Michael James Lindsell
Name/Title:	Mr. Michael James Lindsell
Date:	01/06/2026

Mr. Nicholas John Train

Signature:	Mr. Nicholas John Train
Name/Title:	Mr. Nicholas John Train
Date:	01/06/2026

Comments accompanying signature: 1. Items 4(a) and (b) of Schedule 13G/A As of December 31, 2025, the Managed Accounts were the legal owners of 3,596,500, shares of Ordinary Shares, respectively. Based on there being 56,086,184 shares of Ordinary Shares, the Managed Accounts' holding represents approximately 6.41% of the 3,596,500, outstanding Ordinary Shares, respectively. The Manager serves as investment manager to the Managed Accounts and has investment discretion and voting power over the shares of Ordinary Shares held by the Managed Accounts. Accordingly, the Manager may be deemed to be the beneficial owner of the Ordinary Shares. Michael Lindsell owns a significant membership interest in the Manager and as such may be deemed to control shares held by the Manager by virtue of his interest in the Manager. Nicholas Train owns a significant membership interest in the Manager and as such may be deemed to control shares held by the Manager by virtue of his interest in the Manager. Each of the Reporting Persons disclaims beneficial ownership of the shares of Ordinary Shares of the Issuer held by the Managed Accounts, except to the extent of any pecuniary interest therefrom, and this report shall not be deemed to be an admission that they are the beneficial owners of such securities. 2. Item 4(c) of Schedule 13G/A As of December 31, 2025, each of the Reporting Persons may be deemed to have the power to vote or to direct the voting of and to dispose or to direct the disposition of the 3,596,500 shares, respectively, of Ordinary Shares held by the Managed Accounts. Each of the Reporting Persons disclaims beneficial ownership of the shares of Ordinary Shares held by the Managed Accounts, except to the extent of any pecuniary interest therefrom, and this report shall not be deemed to be an admission that they are the beneficial owners of such securities.

FAQ

How many Manchester United (MANU) shares does Lindsell Train report owning?

Lindsell Train Limited and its principals report beneficial ownership of 3,596,500 Class A ordinary shares of Manchester United plc as of December 31, 2025.

What percentage of Manchester United (MANU) does Lindsell Train’s holding represent?

The reported holding of 3,596,500 Class A ordinary shares represents approximately 6.41% of that class of Manchester United plc as of December 31, 2025.

Who are the reporting persons in this Manchester United (MANU) Schedule 13G/A?

The reporting persons are Lindsell Train Limited, Mr. Michael James Lindsell, and Mr. Nicholas John Train, all based in the United Kingdom.

Do the Lindsell Train reporting persons have sole or shared voting power over Manchester United (MANU) shares?

The filing states they have shared voting power over 3,596,500 shares and no sole voting power, with identical figures for shared dispositive power and zero sole dispositive power.

Are the Manchester United (MANU) shares held directly by Lindsell Train or by clients?

The shares are legally owned by several separately managed accounts (the Managed Accounts) for which Lindsell Train Limited has investment discretion and voting power as investment manager.

Is Lindsell Train seeking to influence control of Manchester United (MANU)?

The reporting persons certify that the securities were acquired and are held in the ordinary course of business and not for the purpose or effect of changing or influencing control of Manchester United plc.

Do the Lindsell Train reporting persons acknowledge full beneficial ownership of their Manchester United (MANU) position?

Each reporting person disclaims beneficial ownership of the shares held by the Managed Accounts, except to the extent of any pecuniary interest in those securities.