# EDGAR Filing Document

**Accession Number:** 0001484150
**File Stem:** 0001172661-25-003665
**Filing Date:** 2025-8
**Character Count:** 11679
**Document Hash:** 8f2fd4723739374118030d67c199c14d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-25-003665.hdr.sgml**: 20250819

**ACCESSION NUMBER**: 0001172661-25-003665

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250819

**EFFECTIVENESS DATE**: 20250819

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Lindsell Train Ltd
- **CENTRAL INDEX KEY:** 0001484150

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** X0
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-13815
- **FILM NUMBER:** 251230008

**BUSINESS ADDRESS:**
- **STREET 1:** 66 BUCKINGHAM GATE
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** SW1E 6AU
- **BUSINESS PHONE:** 44 207 808 1210

**MAIL ADDRESS:**
- **STREET 1:** 66 BUCKINGHAM GATE
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** SW1E 6AU

## FORM N-PX
### ANNUAL REPORT OF PROXY VOTING RECORD

## N-PX: Filer Information

**Filer CIK:** 0001484150

**Date of Report:** 06/30/2025

**Are you a Registered Management Investment Company or an Institutional Manager?:** Institutional Manager

**Is this a LIVE or TEST Filing?:** LIVE

**Is this an electronic copy of an official filing submitted in paper format?:** [ ]

### Submission Contact Information
_Not provided in this filing._

### Notification Information
**Notify via Filing Website only?:** [ ]

## N-PX: Cover Page

**Name of reporting person:** Lindsell Train Ltd

**Address:** 66 BUCKINGHAM GATE, LONDON, X0 SW1E 6AU

**Telephone number:** 0044207-8081214

**Name of agent for service:** —

**Agent Address:** —, —, — —

**Reporting Period:** Report for the year ended 06/30/2025

**SEC File Number:** 028-13815

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** —

**Report Type (check only one):**

Institutional Manager.

- [x] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [ ] Institutional Manager Combination Report

Registered Management Investment Company.

- [ ] Fund Voting Report

- [ ] Fund Notice Report

**Do you wish to provide explanatory information pursuant to Special Instruction B.4?:**

- [x] No

- [ ] Yes

**Additional information:** —

## N-PX: Summary - Included Managers

**Number of Included Institutional Managers:** 0

**Included Institutional Managers:** —

## FORM N-PX PROXY VOTING RECORD

| NAME OF ISSUER                     | CUSIP     | MEETING DATE   | VOTE DESCRIPTION                                                                                                                                   | VOTE CATEGORY                |   SHARES VOTED |   SHARES ON LOAN | HOW VOTED   |   SHARES VOTED FOR OR AGAINST MANAGEMENT | FOR OR AGAINST MANAGEMENT   | OTHER INFO   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| Adobe Inc.                         | 00724F101 | 04/22/2025     | Approve, On An Advisory Basis, The Compensation Of Our Named Executive Officers.                                                                   | SECTION 14A SAY-ON-PAY VOTES |           3560 |                0 | AGAINST     |                                     3560 | AGAINST                     |  |
| American Express Company           | 025816109 | 04/29/2025     | Approval, on an advisory basis, of the Company's executive compensation.                                                                           | SECTION 14A SAY-ON-PAY VOTES |          11600 |                0 | FOR         |                                    11600 | FOR                         |  |
| CME Group Inc.                     | 12572Q105 | 05/08/2025     | Advisory vote on the compensation of our named executive officers.                                                                                 | SECTION 14A SAY-ON-PAY VOTES |           8600 |                0 | AGAINST     |                                     8600 | AGAINST                     |  |
| Colgate-Palmolive Company          | 194162103 | 05/09/2025     | Advisory vote on executive compensation.                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |          20100 |                0 | FOR         |                                    20100 | FOR                         |  |
| eBay Inc.                          | 278642103 | 06/25/2025     | Proposal 3 - Advisory vote to approve named executive officer compensation.                                                                        | SECTION 14A SAY-ON-PAY VOTES |        3087370 |                0 | AGAINST     |                                  3087370 | AGAINST                     |  |
| Equifax Inc.                       | 294429105 | 05/08/2025     | Advisory vote to approve named executive officer compensation ("say-on-pay").                                                                      | SECTION 14A SAY-ON-PAY VOTES |          10300 |                0 | FOR         |                                    10300 | FOR                         |  |
| Fair Isaac Corporation             | 303250104 | 03/05/2025     | To approve the advisory (non-binding) resolution relating to the named executive officer compensation as disclosed in the proxy statement.         | SECTION 14A SAY-ON-PAY VOTES |         227761 |                0 | AGAINST     |                                   227761 | AGAINST                     |  |
| Intuit Inc.                        | 461202103 | 01/23/2025     | Advisory vote to approve Intuit's executive compensation (say-on-pay).                                                                             | SECTION 14A SAY-ON-PAY VOTES |         736029 |                0 | AGAINST     |                                   736029 | AGAINST                     |  |
| Madison Square Garden Sports Corp. | 55825T103 | 12/04/2024     | Approval of, on an advisory basis, the compensation of our named executive officers.                                                               | SECTION 14A SAY-ON-PAY VOTES |           3300 |                0 | FOR         |                                     3300 | FOR                         |  |
| Mondelez International, Inc.       | 609207105 | 05/21/2025     | Advisory vote to approve executive compensation                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |        5655760 |                0 | FOR         |                                  5655760 | FOR                         |  |
| NIKE, Inc.                         | 654106103 | 09/10/2024     | To approve executive compensation by an advisory vote.                                                                                             | SECTION 14A SAY-ON-PAY VOTES |          15900 |                0 | AGAINST     |                                    15900 | AGAINST                     |  |
| Oracle Corporation                 | 68389X105 | 11/14/2024     | Advisory Vote to Approve the Compensation of our Named Executive Officers.                                                                         | SECTION 14A SAY-ON-PAY VOTES |          19200 |                0 | AGAINST     |                                    19200 | AGAINST                     |  |
| PayPal Holdings, Inc.              | 70450Y103 | 06/05/2025     | Advisory Vote to Approve Named Executive Officer Compensation.                                                                                     | SECTION 14A SAY-ON-PAY VOTES |        3990734 |                0 | FOR         |                                  3990734 | FOR                         |  |
| PepsiCo, Inc.                      | 713448108 | 05/07/2025     | Advisory approval of the Company's executive compensation.                                                                                         | SECTION 14A SAY-ON-PAY VOTES |        2254623 |                0 | FOR         |                                  2254623 | FOR                         |  |
| S Global Inc.                      | 78409V104 | 05/07/2025     | Approve, on an advisory basis, the executive compensation program for the Company's named executive officers, as described in the Proxy Statement. | SECTION 14A SAY-ON-PAY VOTES |           5900 |                0 | FOR         |                                     5900 | FOR                         |  |
| T. Rowe Price Group, Inc.          | 74144T108 | 05/08/2025     | Approve, by a non-binding advisory vote, the compensation paid by the Company to its Named Executive Officers.                                     | SECTION 14A SAY-ON-PAY VOTES |          12000 |                0 | FOR         |                                    12000 | FOR                         |  |
| The Coca-Cola Company              | 191216100 | 04/30/2025     | Advisory vote to approve executive compensation                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |          21100 |                0 | FOR         |                                    21100 | FOR                         |  |
| The Estee Lauder Companies Inc.    | 518439104 | 11/08/2024     | Advisory vote to approve executive compensation.                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |          14425 |                0 | FOR         |                                    14425 | FOR                         |  |
| The Hershey Company                | 427866108 | 05/06/2025     | Approve named executive officer compensation on a non-binding advisory basis.                                                                      | SECTION 14A SAY-ON-PAY VOTES |           5100 |                0 | FOR         |                                     5100 | FOR                         |  |
| The Walt Disney Company            | 254687106 | 03/20/2025     | Consideration of an advisory vote to approve executive compensation.                                                                               | SECTION 14A SAY-ON-PAY VOTES |        3917719 |                0 | AGAINST     |                                  3917719 | AGAINST                     |  |
| Thermo Fisher Scientific Inc.      | 883556102 | 05/21/2025     | An advisory vote to approve named executive officer compensation.                                                                                  | SECTION 14A SAY-ON-PAY VOTES |         475830 |                0 | FOR         |                                   475830 | FOR                         |  |
| Verisk Analytics, Inc.             | 92345Y106 | 05/20/2025     | To approve executive compensation on an advisory, non-binding basis.                                                                               | SECTION 14A SAY-ON-PAY VOTES |           7300 |                0 | AGAINST     |                                     7300 | AGAINST                     |  |
| Visa Inc.                          | 92826C839 | 01/28/2025     | To approve, on an advisory basis, the compensation paid to our named executive officers.                                                           | SECTION 14A SAY-ON-PAY VOTES |          11200 |                0 | FOR         |                                    11200 | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** Lindsell Train Ltd

**By (Signature):** Mathew McNeill

**By (Printed Signature):** Mathew McNeill

**By (Title):** Chief Compliance Officer

**Date:** 08/19/2025