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The London Company

Mar 2025 → Jun 2026 · Publishes quarterly · 12 funds

Our archive holds 23 letters from The London Company, behind 31 investment theses and positions in 11 companies. Every quote below is copied verbatim from the letter it came from.

The London Company’s own letters page
23
Letters
11
Companies
5
Moves
31
Theses

What they bought and sold · 5 moves

  • AddedWillis Towers Watson PLC
    June 2026
    “Increased: Willis Towers Watson, PLC (WTW) – We view the company’s shares as attractively valued, offering a favorable risk/reward.”
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  • AddedRELX PLC
    June 2026
    “Increased: RELX PLC (REL LN) – We view the company’s shares as attractively valued, offering a favorable risk/reward.”
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  • TrimmedAlphabet Inc.
    June 2026
    “Reduced: Alphabet Inc. (GOOG) – We trimmed our largest position on strength and to comply with our stated 10% position limits.”
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  • ExitedBurford Capital Limited
    June 2026
    “Exited: Burford Capital Limited (BUR) – BUR lost its appeal in the case against Argentina, an outcome we had judged as unlikely.”
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  • AddedRepublic Services, Inc.
    June 2026
    “Increased: Republic Services, Inc. (RSG) – Addition reflects an attractive opportunity to increase our exposure in a defensive company with a resilient business model.”
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Companies held · 11

Every company The London Company has disclosed a position in across our archive, with the letter that last mentioned it.

Theses · 31

  • Republic Services, Inc.
    June 2026

    Republic Services offers a defensive, high-quality waste business with pricing power, margin expansion, stable cash flow, and attractive valuation.

    Read the full thesis
  • Entegris, Inc.
    June 2026

    Entegris benefits from AI-driven semiconductor demand, strong competitive positioning, and improving free cash flow as its investment cycle ends.

    Read the full thesis
  • Alphabet Inc.
    June 2026

    Alphabet is using AI to accelerate cloud growth, expand margins, and support long-term earnings compounding.

    Read the full thesis
  • Gates Industrial Corporation plc
    December 2025

    Gates Industrial Corporation plc is positioned for strong earnings growth supported by secular tailwinds like electrification and operational improvements despite near-term margin pressure.

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  • Churchill Downs Inc.
    December 2025

    Churchill Downs Inc. benefits from highly cash-generative assets, disciplined capital allocation, reinvestment opportunities, and share repurchases supporting long-term value.

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  • Chubb Limited
    December 2025

    Chubb Limited is delivering record earnings with industry-leading underwriting, raising ROE targets and buybacks, and is viewed as undervalued with accelerating premiums.

    Read the full thesis
  • Aena SME SA
    December 2025

    Aena SME SA operates Spanish airports under a dual-till model with high-return unregulated businesses and attractive capital deployment supported by an underleveraged balance sheet.

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  • Haemonetics Corporation
    December 2025

    Haemonetics Corporation is improving margins toward long-term targets with buybacks at depressed valuations and underlying business quality supporting the setup.

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  • Cooper Companies
    December 2025

    Cooper Companies operates high-quality vision and women's health businesses with durable advantages and margin expansion catalysts alongside attractive valuation and activist-driven improvements.

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  • CCC Intelligent Solutions Holdings Inc
    December 2025

    CCC Intelligent Solutions Holdings Inc is a dominant auto-insurance software platform with network effects, durable organic growth, AI-enhanced offerings, and supportive capital allocation.

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  • Norfolk Southern Corporation
    December 2025

    Norfolk Southern Corporation trades at a discount amid rail sector pessimism, with improving execution and insider buying supporting expectations for incremental volume recovery.

    Read the full thesis
  • Republic Services, Inc.
    December 2025

    Republic Services, Inc. offers a defensive, essential waste management model with pricing power, margin strength, stable cash flows, and insider buying supporting attractive valuation.

    Read the full thesis

Letter archive · 23

2026

2025

Funds · 12

  • The London Company International Equity4
  • The London Company Large Cap Strategy4
  • The London Company Income Equity3
  • The London Company Mid Cap3
  • The London Company Small Cap2
  • The London Company Smid Cap2
  • The London Company Large Cap Equity1
  • The London Company Mid Cap Equity1
  • The London Company Small Cap Equity1
  • The London Company Small Mid Cap1
  • The London Company Smid Cap Equity1
  • The London Company0

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