Liontrust
Liontrust UK Equity Fund
Jun 2026 → Sep 2026
Our archive holds 2 letters from this strategy, behind 6 investment theses and positions in 21 companies. Every quote below is copied verbatim from the letter it came from.
2 letters in a year — follow all of Liontrust for every strategy.
Performance
as of Sep 30, 2026 · net of fees · GBP · Liontrust UK Equity X Acc GBP
- 1Y+3.9%index +16.8%
Index: FTSE All Share
| 1Y | |
|---|---|
| Liontrust UK Equity Fund | +3.9% |
| FTSE All Share | +16.8% |
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 exited our position in Oxford Instruments due to valuation and our position in Rotork after the offer by ABB.
We exited our positions in MONY Group, Greggs and Whitbread due to lowered relative conviction.
During the quarter we initiated new positions in Bellway, Persimmon, British American Tobacco (‘BATS’) and Aviva.
We exited our positions in MONY Group, Greggs and Whitbread due to lowered relative conviction.
During the quarter we initiated new positions in Bellway, Persimmon, British American Tobacco (‘BATS’) and Aviva.
- New positionAvivaSep 2026
During the quarter we initiated new positions in Bellway, Persimmon, British American Tobacco (‘BATS’) and Aviva.
We exited our positions in MONY Group, Greggs and Whitbread due to lowered relative conviction.
During the quarter we initiated new positions in Bellway, Persimmon, British American Tobacco (‘BATS’) and Aviva.
We exited our positions in Trainline due to higher conviction in other technology-focused names, and in Renishaw and Diploma due to valuation discipline.
During the quarter we initiated new positions in BAE, Weir Group, SigmaRoc and Integrafin.
During the quarter we initiated new positions in BAE, Weir Group, SigmaRoc and Integrafin.
We exited our positions in Trainline due to higher conviction in other technology-focused names, and in Renishaw and Diploma due to valuation discipline.
During the quarter we initiated new positions in BAE, Weir Group, SigmaRoc and Integrafin.
The most significant positive contributor to relative performance was an overweight in Softcat, the value-added technology reseller.
During the quarter we initiated new positions in BAE, Weir Group, SigmaRoc and Integrafin.
We exited our positions in Trainline due to higher conviction in other technology-focused names, and in Renishaw and Diploma due to valuation discipline.
Also held
Its investment theses
- BellwaySep 2026Bellway is a conservatively managed UK housebuilder with strong balance sheet support, improving cash generation, and shareholder returns via buybacks and dividends.
- PersimmonSep 2026Persimmon is a large UK housebuilder positioned to grow profits and free cash flow from current levels, with exposure to first-time buyers and potential government stimulus.
- British American TobaccoSep 2026British American Tobacco is a cash-generative global tobacco and nicotine company with strong brands, growing next-generation products, and an attractive valuation.
- AvivaSep 2026Aviva is a diversified insurer with strong market positions, a simplified capital-light business, and attractive earnings growth and shareholder returns.
- IntegraFinJun 2026IntegraFin owns Transact, a high-quality adviser platform gaining share, with durable flows, margin expansion potential, and an attractive valuation.
- SigmaRocJun 2026SigmaRoc is a European lime and essential minerals producer with leading positions, attractive end-market characteristics, and scope for margin expansion and earnings accretion.