Lindsell Train Investment Trust (LTI) Full Portfolio Breakdown – UK, Global and Japan Equity


The Lindsell Train Investment Trust has had a remarkable run over the last 10 years. Over this time, it has produced gains of just over 400% or 16% per annum. This is simply amazing. It is no wonder the investment trust is trading at a 15% premium to the value of shares it holds. If you think a 15% premium is crazy, just over a year ago it was trading at a 60% premium.

The performance of the LindsellTrain Investment Trust and its exceptional returns haven’t gone unnoticed and I have had a number of readers contact me asking what individual stocks the fund holds. As such, I have done some research and found the majority of the portfolio which is below.

What Individual Stocks are held in the Lindsell Train Investment Trust portfolio?

As an investment trust, Lindsell Train is required to disclose their holdings at least once a year. Investment trusts are more transparent than their mutual fund peers (LINK) and as such it is way easier to see which stocks the trust holds. As of 24 July 2017. The LTI trust has the following assets in its portfolio:

  • LindsellTrain Limited
  • Diageo
  • Unilever
  • London Stock Exchange
  • Nintendo
  • Lindsell Train Japanese Equity Fund – B
  • AG Barr
  • RelX
  • Heineken
  • Paypal
  • Mondelez International
  • Lindsell Train Global Equity LLC
  • Finsbury Growth & Income Trust
  • Pearson
  • Ebay

The most striking from the above is the investment in LindsellTrain Limited. This is the investment company set up by Michael Lindsell and Nick Train to run various funds and investment trusts. Over he last few years, Lindsell Train Limited has been the biggest contributor to the funds success as the annual management fees the company receives has swelled due to the popularity of various funds funsd by the company – CF Lindsell Train UK equity fund, Lindsell Train Global Equity Fund and Lindsell Train Japanese Equity Fund. Looking at the specific numbers, Lindsell Train Limited started 2016 with £6.2 billion of Assets Under Management ended the year at £8.9billion – a 43% increase. Asset growth of that magnitude does assuredly create value for shareholders. Asset growth of this magnitude is what has led to the large premium in the Trusts price. With Lindsell Train Limited making up 37.1% of the Investment Trusts assets, investors need to think hard before committing to buy shares in the Trust.

Apart from running the Lindsell Train Investment trust, Nick Train/Michael Lindsell also run a number of funds whose portfolio compositions are below.



CF Lindsell Train UK equity fund – Portfolio Breakdown

Below is a list of stocks currently held by the Lindsell Train UK Equity Fund:

  • AG Barr
  • Diageo
  • Unilever
  • Burberry Group
  • Daily Mail and General Trust
  • Euromoney Institutional Investor
  • Pearson
  • RelX
  • Celtic
  • Fuller Smith & Turner
  • Greene King
  • Youngs Brewery
  • Hargreaves Lansdown
  • London Stock Exchange Group
  • Rathbone Brothers
  • Schroders
  • Fidessa Group
  • Sage Group
  • Remy Cointreau
  • Heineken
  • Dr Pepper Snapple Group
  • Kraft Heinz Company
  • Mondelz International

Lindsell Train Global Equity Fund – Full Portfolio

  • Juventus Football Club SpA
  • Astellas Pharma Inc
  • Canon Inc
  • Ito En Ltd
  • Japan Exchange Group Inc
  • Kao Corp
  • Meiko Network Japan Co Ltd
  • Nintendo Co Ltd
  • Shiseido Co Ltd
  • Heineken
  • RelX NV
  • Celtic PLC
  • Diageo PLC
  • London Stock Exchange Group PLC
  • Pearson PLC
  • Unilever PLC
  • Brown-Forman Corp
  • Dr Pepper Snapple Group Inc
  • eBay Inc
  • International Speedway Corp
  • Intuit Inc
  • Mondelez International Inc
  • PayPal Holdings Inc
  • PepsiCo Inc
  • The Walt Disney Co
  • World Wrestling Entertainment Inc

Lindsell Train Japanese Equity Fund – Full Portfolio

  • Astellas Pharma Inc
  • Broadleaf Co Ltd
  • Canon Inc
  • Earth Chemical Co Ltd
  • Hogy Medical Co Ltd
  • Ito En Ltd
  • Japan Exchange Group Inc
  • Kao Corp
  • Kirin Holdings Co Ltd
  • Mandom Corp
  • Medikit Co Ltd
  • Meiko Network Japan Co Ltd
  • Milbon Co Ltd
  • Morningstar Japan KK
  • Nintendo Co Ltd
  • OBIC Business Consultants Co Ltd
  • Shiseido Co Ltd
  • Sotsu Co Ltd
  • Taisho Pharmaceutical Holdings Co Ltd
  • Takeda Pharmaceutical Co Ltd
  • Tsutsumi Jewelry Co Ltd




Finsbury Growth and Income Trust – Portfolio

  • Unilever
  • RELX
  • Diageo
  • London Stock Exchange Group
  • Burberry Group
  • Heineken
  • Hargreaves Lansdown
  • Schroders
  • Sage Group
  • Mondelez International
  • Daily Mail & General Trust
  • Remy Cointreau
  • Fidessa
  • Rathbone Brothers
  • Dr.Pepper Snapple
  • Pearson
  • A.G. Barr
  • The Kraft Heinz Company
  • Greene King
  • Young & Co’s Brewery
  • Euromoney Institutional
  • The Lindsell Train Investment Trust plc
  • Fuller Smith & Turner
  • Celtic
  • Frostrow Capital LLP

 

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