About LTI

Lindsell Train Investment Trust (The) PLC is a UK-based investment trust company. Its primary investment objective is to maximize long-term total returns with a minimum objective to maintain the real purchasing power of Sterling capital. The company’s investment policy is to invest in a wide range of financial assets including equities, unquoted equities, bonds, funds, cash and other financial investments globally with no limitations on the markets and sectors. It focuses on investing in a concentrated portfolio of securities with the number of equity investments averaging fifteen companies. The company holds a portfolio of equities across UK, USA, Japan, Europe.

Lindsell Train Investment Trust
Investment companies | Update | 24 September 2025
Durability in times of volatility


Market volatility at the start of 2025 – brought about by tariff uncertainty
and the release of the Chinese artificial intelligence (AI) model
DeepSeek – provided an interesting snapshot into the potential
performance of the companies that Lindsell Train Investment Trust (LTI)
and its manager, Lindsell Train Limited (LTL), invest in during times of
market stress. The durability and resilient cash flows, which are
hallmarks of LTL investments, proved popular with investors, with many
holdings recording large share price gains in the first few months of the
year – counter to the wider market.
Others did not do quite as well, but if markets were to undergo a
sustained period of volatility – with both the macroeconomic data and
geopolitical situation looking increasingly precarious – then sentiment
towards stocks with deep moats and predictable earnings growth would
likely improve. As tension in markets heighten, LTI may look cheap on
a 20.2% discount to net asset value (NAV).


Maximise returns over the long-term
LTI aims to maximise total returns over the long term, with the
minimum objective of maintaining the real purchasing power of
sterling capital. It invests in a concentrated portfolio of global
equities that it has identified as market-leading and that benefit
from high returns on equity. It also invests in a range of Lindsell
Train-managed funds and the unlisted security of its investment
manager, Lindsell Train Limited.

Current yield 6.1%

Current discount to NAV 21%

Note the holding in it’s own management company