Lindsell Train
WS Lindsell Train North American Equity Fund
North America
Jan 2026 → Sep 2026
Our archive holds 5 letters from this strategy, behind 2 investment theses and positions in 20 companies. Every quote below is copied verbatim from the letter it came from.
5 letters in a year · follow all of Lindsell Train for every strategy.
Performance
as of Sep 30, 2026 · net of fees · GBP · Acc
- YTD−12.7%index +13.6%
- 1Y−10.4%index +16.6%
- 3Y · /yr+3.4%index +19.1%
- 5Y · /yr+1.2%index +13.2%
- Inception · /yr+6.8%index +17.0%
Index: MSCI North America Index
| YTD | 1Y | 3Yper year | 5Yper year | Since inceptionper year | |
|---|---|---|---|---|---|
| WS Lindsell Train North American Equity Fund | −12.7% | −10.4% | +3.4% | +1.2% | +6.8% |
| MSCI North America Index | +13.6% | +16.6% | +19.1% | +13.2% | +17.0% |
Calendar years
- 2025+1.9%index +9.9%
- 2024+16.0%index +26.2%
- 2023+10.1%index +18.9%
- 2022−10.6%index −9.4%
- 2021+22.7%index +27.6%
Disclaimer
These figures are copied from the manager’s latest letter, as of Sep 30, 2026. They were extracted automatically, have not been verified by HF Best Ideas and may contain errors. They cover a single share class, in the currency and fee basis stated above; other share classes and your own returns will differ. This is not investment advice, nor an offer to buy or sell any fund. Past performance does not predict future returns.
Read full disclosures →What it bought and sold
we also began accumulating stakes in two new companies.
we also began accumulating stakes in two new companies.
Also held
Its investment theses
- EquifaxSep 2026Equifax is held because its credit reports are deeply embedded in lender workflows and the regulated mortgage segment is only a small part of revenue, making the sell-off overdone.
- Intuit Inc.Jan 2026Intuit Inc. is a dominant accounting and tax software provider with trusted brands, data and AI advantages, and clear growth opportunities in assisted tax and the mid-market that support accelerating long-term revenue growth.