The London Company
The London Company International Equity
International Large-cap
Jun 2025 → Jun 2026
Our archive holds 4 letters from this strategy, behind 3 investment theses and positions in 7 companies. Every quote below is copied verbatim from the letter it came from.
4 letters in 2 years — follow all of The London Company for every strategy.
What it bought and sold
Increased: Willis Towers Watson, PLC (WTW) – We view the company’s shares as attractively valued, offering a favorable risk/reward.
Increased: RELX PLC (REL LN) – We view the company’s shares as attractively valued, offering a favorable risk/reward.
Exited: Burford Capital Limited (BUR) – BUR lost its appeal in the case against Argentina, an outcome we had judged as unlikely.
Also held
Its investment theses
- Aena SME SADec 2025Aena 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.
- RELX PLCDec 2025RELX PLC has distinct proprietary data and niche dominance in growing verticals, suggesting AI disruption fears are overstated.
- Intercontinental Hotels GroupJun 2025Intercontinental Hotels Group (IHG LN) is a leading asset-light hotel franchisor with strong brands, robust cash flow, a shareholder-friendly management, and an attractive valuation, positioning it as a compelling long-term investment.