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Private company

Lindsell Train

Logo: Lindsell Train, Public domain, via Wikimedia Commons5

British investment management company

Lindsell Train Limited (LTL) is a British investment management company that focuses on managing equity portfolios. The Lindsell Train Investment Trust (LTI) which currently owns 24% of LTL is publicly traded on the London Stock Exchange.3 Wikipedia text CC BY-SA 4.0

Last updated Oct 21, 2026.

Overview

2000Founded1
  • Industryfinancial services, private equity firm1
  • HeadquartersLondon1
  • Websitewww.lindselltrain.com
  • Legal formlimited company1
  • LEI54930025YVVG3BVMRC264
  • StatusActive4
  • LEI statusIssued and current4
  • Registered address66 BUCKINGHAM GATE, SW1E 6AU London, United Kingdom4
  • Registered withCompanies House, 039417274

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Lindsell Train Limited (LTL) is a British investment management company that focuses on managing equity portfolios. The Lindsell Train Investment Trust (LTI) which currently owns 24% of LTL is publicly traded on the London Stock Exchange.3

Corporate structure

Lindsell Train sits at the top of its group. 370 entities, 84 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Lindsell Train

  • Lindsell Train Investment Trust PLC Owns 10% to 25% of Lindsell Train, since 01/2001 (Form ADV)
  • Michael James Lindsell Owns 25% to 50% of Lindsell Train, since 03/2000 (Form ADV)
  • Nicholas John Train Owns 25% to 50% of Lindsell Train, since 03/2000 (Form ADV)
  • Lindsell Train London, United Kingdom
    • Celtic F.C. Subsidiary · Glasgow, United Kingdom
    • Fidessa Stake · 15% · London, United Kingdom
    • Rathbone Brothers Stake · 12.6% · London, United Kingdom
      • RATHBONE NOMINEES LIMITED Subsidiary · Liverpool, United Kingdom
      • RATHBONES ASSET MANAGEMENT LIMITED Subsidiary · London, United Kingdom
        • RATHBONE ACTIVE INCOME AND GROWTH FUND Fund · London, United Kingdom
        • RATHBONE CORE INVESTMENT FUND FOR CHARITIES Fund · London, United Kingdom
        • RATHBONE ETHICAL BOND FUND Fund · London, United Kingdom
        • RATHBONE FUNDS Fund · London, United Kingdom
        • RATHBONE GLOBAL OPPORTUNITIES FUND Fund · London, United Kingdom
        • RATHBONE GREENBANK DEFENSIVE GROWTH PORTFOLIO Fund · London, United Kingdom
        • RATHBONE GREENBANK DYNAMIC GROWTH PORTFOLIO Fund · London, United Kingdom
        • RATHBONE GREENBANK GLOBAL SUSTAINABILITY FUND Fund · London, United Kingdom
        • RATHBONE GREENBANK GLOBAL SUSTAINABLE BOND FUND Fund · London, United Kingdom
        • RATHBONE GREENBANK GLOBAL SUSTAINABLE PORTFOLIOS Fund · London, United Kingdom
        • RATHBONE GREENBANK MULTI-ASSET PORTFOLIOS Fund · London, United Kingdom
        • RATHBONE GREENBANK STRATEGIC GROWTH PORTFOLIO Fund · London, United Kingdom
        • RATHBONE GREENBANK TOTAL RETURN PORTFOLIO Fund · London, United Kingdom
        • RATHBONE HERITAGE FUND Fund · London, United Kingdom
        • RATHBONE HIGH QUALITY BOND FUND Fund · London, United Kingdom
        • RATHBONE INCOME FUND Fund · London, United Kingdom
        • RATHBONE MULTI ASSET ENHANCED GROWTH PORTFOLIO Fund · London, United Kingdom
        • RATHBONE MULTI ASSET PORTFOLIO Fund · London, United Kingdom
        • RATHBONE MULTI ASSET STRATEGIC GROWTH PORTFOLIO Fund · London, United Kingdom
        • RATHBONE MULTI ASSET STRATEGIC INCOME PORTFOLIO Fund · London, United Kingdom
        • RATHBONE MULTI ASSET TOTAL RETURN PORTFOLIO Fund · London, United Kingdom
        • RATHBONE MULTI-ASSET DEFENSIVE GROWTH PORTFOLIO Fund · London, United Kingdom
        • RATHBONE MULTI-ASSET DYNAMIC GROWTH PORTFOLIO Fund · London, United Kingdom
        • RATHBONE SICAV ASIA EQUITY FUND Fund · London, United Kingdom
        • RATHBONE SICAV ETHICAL BOND FUND Fund · London, United Kingdom
        • and 14 more
      • RATHBONES INVESTMENT MANAGEMENT INTERNATIONAL (IRELAND) LIMITED Subsidiary · Dublin, Ireland
      • RATHBONES INVESTMENT MANAGEMENT INTERNATIONAL LIMITED Subsidiary · St. Helier, Jersey
      • RATHBONES INVESTMENT MANAGEMENT LIMITED Subsidiary · Liverpool, United Kingdom
      • RATHBONES TRUST COMPANY LIMITED Subsidiary · London, United Kingdom
      • VISION INDEPENDENT FINANCIAL PLANNING LTD Subsidiary · Falmouth, United Kingdom
      • RATHBONE LUXEMBOURG FUNDS SICAV Fund · Hesperange, Luxembourg
    • Juventus FC Stake · 11% · Torino, Italy
      • JOFC Corato Subsidiary · Metropolitan City of Bari, Italy
      • Juventus F.C. Next Gen Subsidiary · Italy
      • Juventus F.C. Women Subsidiary · Italy
      • Juventus F.C. Youth Sector Subsidiary · Italy
    • Heineken Holding Stake · 2.63% · Amsterdam, Netherlands
    • Mondelez International Stake · 2.24% · Chicago, Illinois, United States
      • CADBURY SCHWEPPES OVERSEAS LIMITED Chicago, Illinois, United States
        • Cadbury Nigeria Plc 74.97% · Ikeja, Nigeria
        • KENT GIDA MADDELERİ SANAYİİ VE TİCARET ANONİM ŞİRKETİ Subsidiary · Kocaeli̇, Turkey
      • Bimo (Morocco) Subsidiary · Casablanca
      • Café HAG Subsidiary · Bremen
      • Chocolat Poulain Subsidiary · Villebarou
      • Freia Subsidiary · Oslo
        • Marabou Subsidiary · Upplands Väsby
      • Mondelēz International (Canada) Subsidiary · Mississauga, Canada
      • Mondelēz International (Singapore) Subsidiary · Singapore
      • Mondelēz Japan Subsidiary · Tokyo, Japan
      • Mondelēz Ukraine Subsidiary
      • Nabisco Subsidiary · East Hanover
      • Opavia Subsidiary · Prague, Czechia
      • Saiwa Subsidiary · Capriata d'Orba, Italy
      • Vandamme Subsidiary
      • 3-101-138869, S.A. Subsidiary · Costa Rica
      • Alpen Gold Subsidiary
      • AztecAgri B.V. Subsidiary · Netherlands
      • Berkeley Re Designed Activity Company Subsidiary · Ireland
      • C S Business Services (India) Private Limited (CSBS) Subsidiary · India
      • Cadbury Adams Middle East S.A.L. Subsidiary · Lebanon
      • Cadbury Beverages de Venezuela CA Subsidiary · Venezuela
      • Cadbury Botswana (Proprietary) Limited Subsidiary · Botswana
      • Cadbury Confectionery (Guangzhou) Co., Limited Subsidiary · China
      • Cadbury Confectionery Malaysia Sdn. Bhd. Subsidiary · Malaysia
      • Cadbury Confectionery Sales (M) Sdn. Bhd. Subsidiary · Malaysia
      • Cadbury France Subsidiary · France
      • and 274 more
    • Cazoo Stake · London, United Kingdom
    • Manchester United plc Stake · Manchester, United Kingdom
    • Pearson plc Stake · London, United Kingdom
    • TKO Group Holdings Stake · New York City
    • WORLD WRESTLING ENTERTAINMENT, LLC Stake · Stamford, Connecticut

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); stakes of 5% or more it reported on Schedules 13D and 13G (5 companies); owners and owned firms from Form ADV, the registration investment advisers file with the SEC. Each entity in the chart links to its source.

Investment adviser

Lindsell Train is registered with the SEC as an investment adviser. This is what it reports on Form ADV, the registration every adviser files and keeps current.

  • Assets it manages$9.3B6 18 accounts, all with discretion
  • Employees30 6 in investment advice or research
  • ClientsPooled investment vehicles (other than investment companies and: 16 ($8.7B)
  • How it is paidA percentage of assets under its management; Performance-based fees
  • What it doesPortfolio management for pooled investment vehicles (other than investment companies); Portfolio management for businesses (other than small businesses) or institutional clients (other than registered investment companies and other pooled investment vehicles)
  • Holds client assetsYes: cash and securities
  • RegistrationSEC 801-72541, CRD 158323 IAPD record

Who owns it

Owners of 5% or more as the firm lists them (Schedule A), and the owners of those owners up the chain (Schedule B).

  • Michael James Lindsellowns 25% to 50%, since 03/2000
  • Nicholas John Trainowns 25% to 50%, since 03/2000
  • LINDSELL TRAIN INVESTMENT TRUST PLCowns 10% to 25%, since 01/2001

What it owns

What Lindsell Train reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Stakes and holdings (Wikidata)

Things Wikidata records the company as owning, with the share when stated.1

Subsidiaries and ownership

Also owns

From Wikidata.1

Timeline

  1. 2000Founded Founded1

Filings

23 filings to the SEC since October 2021: 23 other. The latest 20:

  1. Jul 15, 202613F-HR EDGAR
  2. Jul 13, 2026N-PX EDGAR
  3. Apr 24, 202613F-HR EDGAR
  4. Feb 11, 202613F-HR EDGAR
  5. Nov 12, 202513F-HR EDGAR
  6. Aug 19, 2025N-PX EDGAR
  7. Aug 8, 202513F-HR EDGAR
  8. May 15, 202513F-HR EDGAR
  9. Jan 21, 202513F-HR EDGAR
  10. Oct 17, 202413F-HR EDGAR
  11. Aug 5, 2024N-PX EDGAR
  12. Jul 23, 202413F-HR EDGAR
  13. May 10, 202413F-HR EDGAR
  14. Feb 13, 202413F-HR EDGAR
  15. Nov 9, 202313F-HR EDGAR
  16. Aug 14, 202313F-HR EDGAR
  17. May 12, 202313F-HR EDGAR
  18. Jan 27, 202313F-HR EDGAR
  19. Nov 14, 202213F-HR EDGAR
  20. Aug 11, 202213F-HR EDGAR

The 23 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Stakes it holds

Lindsell Train has told the SEC it owns more than 5% of 5 companies, latest first (Schedules 13D and 13G).

SEC filer profile

How Lindsell Train is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARLindsell Train Ltd2
  • CIK0001484150
  • Incorporated inUnited Kingdom2
  • Fiscal year endsDecember 312
  • Business address66 Buckingham Gate, London, X0 SW1E 6AU2
  • Phone44 207 808 12102
  • On EDGAR sinceFeb 16, 20102
  • Filings106 in all: 13F-HR (67), SC 13G/A (25), SC 13G (5), SCHEDULE 13G/A (5), N-PX (3), 13F-HR/A (1)2

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
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  11. 11