Liontrust
Liontrust Balanced Fund
Jun 2026 → Jun 2026
Our archive holds 1 letter from this strategy and positions in 22 companies. Every quote below is copied verbatim from the letter it came from.
1 letter in a year — follow all of Liontrust for every strategy.
Performance
as of Jun 30, 2026 · net of fees · C Acc
- YTD+5.7%index +7.6%
- 1Y+18.5%index +17.1%
Index: IA Mixed Investment 40-85% Shares
| YTD | 1Y | |
|---|---|---|
| Liontrust Balanced Fund | +5.7% | +18.5% |
| IA Mixed Investment 40-85% Shares | +7.6% | +17.1% |
Calendar years
- 2025+5.3%index +5.6%
- 2024+17.0%index +11.8%
- 2023+8.1%index +3.3%
- 2022−11.8%index −7.2%
Disclaimer
These figures are copied from the manager’s latest letter, as of Jun 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
These buys were funded by the sale of Trimble, reducing overall software and long-duration growth, and by exiting BAE Systems and Rolls-Royce which dials back our geopolitically sensitive exposure.
Other new positions included OHB, a key beneficiary of the Space / Satellite theme, Novo Nordisk within the obesity market, EssilorLuxottica, a favoured play on wearable AI, and Tencent, increasing our exposure to China technology.
Within the financials sector, a combination of limited upside to our current price targets and a declining T-Score in our risk systems led us to reduce the overall exposure by selling out of Mastercard, ICICI Bank and The London Stock Exchange.
We also sold M3 on T-Score/factor considerations within healthcare and a view it could be an AI loser, and exited Novonesis where we saw limited upside and less confidence in inflation pass-through.
We added exposure to hardware and compute through purchases of TSMC and STMicro, which also increased regional exposure to Taiwan and Europe respectively.
These buys were funded by the sale of Trimble, reducing overall software and long-duration growth, and by exiting BAE Systems and Rolls-Royce which dials back our geopolitically sensitive exposure.
The Fund’s materials exposure dragged as rotation within the commodity space saw profit taking from our overweight in the mining sector (including Agnico Eagle Mines, Newmont Corporation and Barrick Mining) .
We added exposure to hardware and compute through purchases of TSMC and STMicro, which also increased regional exposure to Taiwan and Europe respectively.
Other new positions included OHB, a key beneficiary of the Space / Satellite theme, Novo Nordisk within the obesity market, EssilorLuxottica, a favoured play on wearable AI, and Tencent, increasing our exposure to China technology.
These buys were funded by the sale of Trimble, reducing overall software and long-duration growth, and by exiting BAE Systems and Rolls-Royce which dials back our geopolitically sensitive exposure.
We increased the weight in the energy sector, establishing a new position in Halliburton.
Within the financials sector, a combination of limited upside to our current price targets and a declining T-Score in our risk systems led us to reduce the overall exposure by selling out of Mastercard, ICICI Bank and The London Stock Exchange.
- New positionNovo NordiskJun 2026
Other new positions included OHB, a key beneficiary of the Space / Satellite theme, Novo Nordisk within the obesity market, EssilorLuxottica, a favoured play on wearable AI, and Tencent, increasing our exposure to China technology.
The Fund’s materials exposure dragged as rotation within the commodity space saw profit taking from our overweight in the mining sector (including Agnico Eagle Mines, Newmont Corporation and Barrick Mining) .
Within the financials sector, a combination of limited upside to our current price targets and a declining T-Score in our risk systems led us to reduce the overall exposure by selling out of Mastercard, ICICI Bank and The London Stock Exchange.
We initiated Alibaba to add exposure to China consumer and data/platform themes.
- ExitedNovonesisJun 2026
We also sold M3 on T-Score/factor considerations within healthcare and a view it could be an AI loser, and exited Novonesis where we saw limited upside and less confidence in inflation pass-through.
The Fund’s materials exposure dragged as rotation within the commodity space saw profit taking from our overweight in the mining sector (including Agnico Eagle Mines, Newmont Corporation and Barrick Mining) .
Other new positions included OHB, a key beneficiary of the Space / Satellite theme, Novo Nordisk within the obesity market, EssilorLuxottica, a favoured play on wearable AI, and Tencent, increasing our exposure to China technology.