Founded in 2000 by Michael Lindsell and Nick Train, Lindsell Train Limited is an independent investment management firm with over 40 years combined experience. Nick Train serves as Chairman with a Modern History degree from Oxford, previously head of Global Equities at M&G and 17 years at GT Management as CIO Pan-Europe, achieving 8.8% annualized returns over 25.5 years and recognition as Trustnet Alpha Manager. Michael Lindsell serves as Chief Executive focusing on Japanese and global equity portfolios. James Bullock joined in 2015 as joint portfolio manager for Global Equity and leads North American Equity strategy. The firm maintains majority founder ownership with LTIT owning 24% minority stake, employing 30 people with lean operational structure designed to minimize hierarchy and maximize investment focus.

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Lindsell Train's investment philosophy centers on Warren Buffett's principles of investing in great businesses for less than intrinsic worth with managers of highest integrity, holding shares forever within their circle of competence. They define risk as permanent capital loss possibility, believing concentration in high-conviction companies with predictable earnings, low capital intensity, sustainable high returns on capital, and durable competitive advantages reduces risk better than diversification. Portfolios are constructed without benchmark reference, typically maintaining 20-35 carefully selected positions with minimal turnover intended to span several economic cycles. Environmental, social and governance factors are integrated as critical survivability assessments. Their approach emphasizes rigorous primary research targeting exceptional companies with enduring competitive advantages for very long-term investment horizons.

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