
Small-Cap Spotlight Report: Lindsell Train Investment Trust
The market has become very unhappy with buy-and-hold investor Nick Train. Maynard Paton studies Lindsell Train Investment Trust and reckons Mr Train’s fund-management business could
Maynard became a full-time investor at the start of 2015 and then published a blog documenting his portfolio at maynardpaton.com until the end of 2025. Before that he wrote investment articles for The Motley Fool UK between 1999 and 2014. Maynard has written articles for ShareScope since 2018.
I’ve developed my investing approach after years of learning about the stock market and experiencing what actually works for me. Important influences on my style include the strategies of Warren Buffett, Peter Lynch and Jim Slater. I look to invest in respectable smaller companies run by capable managers that trade at modest valuations and to hold them for the long term.

The market has become very unhappy with buy-and-hold investor Nick Train. Maynard Paton studies Lindsell Train Investment Trust and reckons Mr Train’s fund-management business could

RWS has lifted its dividend for 19 consecutive years yet the shares currently offer a 6.5% yield. Maynard Paton studies the translation group’s acquisition history,

Obscure small-cap Colefax has repurchased 75% of its share count since 1999. Maynard Paton weighs up the fabric designer’s impressive buyback record and cash-rich financials

Poor record-keeping at a small subsidiary prompted an adverse audit at Victoria last year. Maynard Paton looks at other areas of the carpet manufacturer’s accounts

Yü Group has delivered wonderful multi-bagger returns during the last few years. Maynard Paton recaps the energy supplier’s entrepreneurial leadership and remarkable recovery following an

Rockwood Strategic is buying underperforming small-caps, revitalising their boards and pushing for takeovers. Maynard Paton reviews the investment trust’s ‘activist approach, portfolio performance and current

Property Franchise has consistently exhibited attractive financials and will soon combine with rival Belvoir. Maynard Paton delves into the small-cap’s balance sheet, acquisitive history, franchising

Fashion website Sosandar plans to open shops to bolster its sales and margins. Maynard Paton weighs up management’s bold financial ambition against the wider sector’s

A search for ‘owner managers’ leads Maynard Paton to the impressive dividend record of Lok’nStore and the ‘extremely stable’ nature of self storage. I love

Judges Scientific has delivered mega-bagger returns for its very early shareholders. Maynard Paton studies the growth and success of the ‘buy and build’ operator. Today’s

Significant, acquisition-free expansion is prized by many investors. Maynard Paton studies the organic growth record of pay-by-mobile small-cap Fonix Mobile. Whisper it, but a few

Many great companies still can’t resist ‘diworsifiying’ in the quest for growth. Maynard Paton studies IT specialist NCC and its costly folly beyond software escrow.