Lindsell Train
WS Lindsell Train UK Equity Fund
UK
Jan 2026 → Oct 2026
Our archive holds 5 letters from this strategy, behind 13 investment theses and positions in 16 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 Oct 31, 2026 · net of fees · GBP · Acc
- YTD+7.2%index +11.1%
- 1Y+0.3%index +13.9%
- 3Y · /yr+3.0%index +17.5%
- 5Y · /yr+0.9%index +10.8%
- 10Y · /yr+4.8%index +8.2%
- Inception · /yr+8.5%index +7.0%
Index: FTSE All-Share TR Index
| YTD | 1Y | 3Yper year | 5Yper year | 10Yper year | Since inceptionper year | |
|---|---|---|---|---|---|---|
| WS Lindsell Train UK Equity Fund | +7.2% | +0.3% | +3.0% | +0.9% | +4.8% | +8.5% |
| FTSE All-Share TR Index | +11.1% | +13.9% | +17.5% | +10.8% | +8.2% | +7.0% |
Calendar years
- 2025−7.2%index +24.0%
- 2024+2.4%index +9.5%
- 2023+4.6%index +7.9%
- 2022−6.1%index +0.3%
- 2021+12.7%index +18.3%
Disclaimer
These figures are copied from the manager’s latest letter, as of Oct 31, 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
New holdings Spirax and TP ICAP are examples, initiated and built up over the quarter.
New holdings Spirax and TP ICAP are examples, initiated and built up over the quarter.
Also held
Its investment theses
- RELXOct 2026RELX is a data and analytics company whose proprietary data and AI-enhanced services (Protégé, LeapSpace) are accelerating revenue growth, making it a multi-year AI beneficiary.
- London Stock Exchange GroupOct 2026London Stock Exchange Group is a critical global markets infrastructure provider whose AI strategy and fixed-income acquisitions are improving its growth potential and valuation upside.
- ClarksonOct 2026Clarkson provides crucial liquidity and data services to global shipping markets, making it strategically valuable in the AI era and modestly valued.
- UnileverOct 2026Unilever is a consumer company with better-than-expected Q3 revenue growth and steady growth prospects that could attract investors if the AI boom subsides.
- SageSep 2026Sage is positioned as a business-critical enterprise software provider benefiting from AI as a tailwind, with proprietary data and in-house AI agents supporting faster revenue growth.
- RELXSep 2026RELX is presented as a proprietary-data incumbent whose most exposed legal data division has accelerated growth through AI-enhanced insights.
- ClarksonSep 2026Clarkson is described as the world’s leading shipping broker whose proprietary fleet data and insight generation strengthen its competitive advantage and AI benefit.
- DiageoSep 2026Diageo is presented as a branded spirits company with scope for cost savings, balance-sheet repair, and a potential recovery in growth and valuation.
- RightmoveJul 2026Rightmove is viewed as a highly engaged, defensible real-estate platform whose proprietary data and AI-enabled tools could drive years of revenue and profit growth.
- SageJul 2026Sage is presented as an AI-enabled software platform with proprietary business data, accelerating growth, and a potentially long runway.