Lindsell Train’s Q4 2021 Investor Letter

Lindsell Train, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be seen here. In its letter, the fund dug a bit deeper and put some numbers to the phrase by exploring global changes in alcohol consumption and consumer habits. The fund also talked about some quantified optimism about why its efforts to increase the percentage of premium (and extending to out and out luxury) international alcohol brands in its portfolios are a positive move to address these changes, take advantage of opportunities around the world, boost margins over time and lock in the considerable pricing power of its portfolio companies’ collections of unique and compelling beverage brands. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.