Private fund adviser · London, United Kingdom
Lindsell Train Limited
SEC-registered investment adviser · CRD 158323 · SEC 801-72541
At a glance
Lindsell Train Limited is an SEC-registered investment adviser based in London, United Kingdom, with $9.3 billion in regulatory assets under management as of its Form ADV filed April 27, 2026. Its largest client group by assets is pooled investment vehicles. By Form ADV it is a private fund adviser, ranked 653rd of 4,686 private fund advisers and 1,443rd of 17,210 SEC-registered advisers by assets.
Main office +442078081210lindselltrain.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $9.3B
- Rank among private fund advisers
- #653 of 4,686
- Rank among all SEC RIAs
- #1,443 of 17,210
- Clients
- 16
- Accounts
- 18
- Discretionary
- 100% of AUM
- Employees
- 30
- Advisory staff
- 6
- Offices
- 1
Owners and executives on its Form ADV
- Michael J. LindsellDirector & Shareholder
- Nicholas J. TrainDirector & Shareholder
- Michael C. LimDirector & Shareholder
- Jane S. OrrNON Executive Director
- Julian A. BartlettNON Executive Director
- Mathew McNeillChief Compliance Officer
- Jocelyn A. SaundersChief Operating Officer
- Rory B. LandmanNON Executive Director
- Jessica H. CameronDirector & Shareholder
- James M. BullockDirector & Shareholder
Custody and brokerage
Broker-dealer
Hybrid RIA
Lindsell Train Limited is a hybrid RIA: 1 of its employees are also registered representatives of a broker-dealer.
Form ADV Part 1 doesn’t name an unaffiliated broker-dealer. The firm’s Part 2A brochure (Item 10) and each adviser’s record on the SEC’s adviser search do.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Pooled investment vehicles | 16 | $8.7B | 94% |
| Pension and profit sharing plans | – | $581M | 6% |
Private funds
Lindsell Train Limited reports 2 private funds with $305M in gross assets: other private funds (Form ADV Item 7.B).
Disciplinary disclosures
Lindsell Train Limited reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses and institutions
How it’s paid
- A percentage of assets under management
- Performance-based fees
Form ADV and brochures on the SEC’s adviser search ↗lindselltrain.com ↗
AtlasMembers
The full record on Lindsell Train Limited
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
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- Growth over one, three and five years
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- Rank against 1,021 peers of its type and size
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- Owners and executives, with titles and stakes
- 10 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
- 1Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does Lindsell Train Limited manage?
Lindsell Train Limited reports $9.3 billion in regulatory assets under management across 18 accounts, 100% of it on a discretionary basis, on its Form ADV filed April 27, 2026.
What kind of firm is Lindsell Train Limited?
Lindsell Train Limited is a private fund adviser by its Form ADV answers. Private funds are at least half of its business by assets.
Who are Lindsell Train Limited’s clients?
By assets, its largest client types are pooled investment vehicles ($8.7 billion, 16 clients); pension and profit sharing plans ($581 million).
Does Lindsell Train Limited manage private funds?
Yes. It reports 2 private funds with $305 million in gross assets, including other private funds.
Does Lindsell Train Limited have any disciplinary history?
Lindsell Train Limited reports no disciplinary disclosures in Item 11 of its Form ADV. Check the SEC’s adviser search for the latest record.
Where these numbers come from
Every figure is Lindsell Train Limited’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-04-27), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Ranks compare it by regulatory assets with every SEC-registered adviser and with firms of its type. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →