Annual Overview from QuotedData

Lindsell Train Investment Trust - Annual Overview from QuotedData

7 May 2026

"Market mispricing AI risk"

During global market uncertainty, Lindsell Train Investment Trust (LTI) and its manager, Lindsell Train Limited (LTL), have generally performed well as investors look for stable cash flows. Some holdings, especially in consumer staples, have been defensive during recent periods of market volatility linked to the Iran war. However, concerns about the impact of artificial intelligence (AI) on software and data businesses have negatively affected both LTI and LTL.

This has been most noticeable with portfolio company RELX. LTL believes the market has got its assessment of RELX wrong, arguing that in sectors like legal and financial, high regulatory barriers and the cost of errors make their datasets essential for AI tools to work successfully. Reflecting this, LTI took advantage of market weakness to start building a position in US credit scoring firm FICO in February, which was already held within LTL's Global strategy.

Although LTL's funds under management (FUM) have continued to decline, it has launched a new $200m international equities strategy, funded by its large cash reserves and a long-term client.

Full Research:

https://quoteddata.com/research/lindsell-train-investment-trust-market-mispricing-ai-risk-qd/

This research is also available free on our website www.quoteddata.com where you will also find news, performance data and factsheets on every London listed Investment Company. QuotedData writes and distributes research on a number of quoted companies, facilitates meetings between those companies and existing and potential investors and assists in raising additional capital where required.

NB: Marten & Co was paid to produce this note Lindsell Train Investment Trust Plc, and it is for information purposes only. It is not intended to encourage the reader to deal in the security or securities mentioned in this report. Please read the important information at the back of this note. QuotedData is a trading name of Marten & Co Limited which is authorised and regulated by the Financial Conduct Authority. Marten & Co is not permitted to provide investment advice to individual investors categorised as Retail Clients under the rules of the Financial Conduct Authority.

QUOTEDDATA50 Gresham Street | London EC2V 7AYTel: +44 (0) 20 3691 9430

www.quoteddata.com | [email protected] | www.martenandco.com