Lindsell Train
Lindsell Train North American Equity Fund
North America
Dec 2024 → Aug 2025
Our archive holds 5 letters from this strategy, behind 1 investment thesis and positions in 19 companies. Every quote below is copied verbatim from the letter it came from.
5 letters in 2 years · follow all of Lindsell Train for every strategy.
What it bought and sold
We have been steadily building the Fund’s position in Canadian Pacific Kansas City (CPKC), which we first added to the portfolio in January.
we have used the proceeds to help build up our two most recent additions, Thermo Fisher and CPKC, which we believe may offer superior return potential compared to Hershey.
Finally, we exited our position in Hershey last month, shortly after the company reported its Q3 results which beat analyst expectations.