The Learning Style Questionnaire (LSQ) developed by Honey and Mumford (1986) is one of several measures of individual learning style. Despite its popularity in the UK there is little published evidence for construct validity. This survey of 329 British managers used cluster and factor analysis to assess the validity of the LSQ. Cluster analysis revealed learning style profiles dominated by Reflector/Theorist traits. The factor structure of the LSQ does not cleanly reflect the four-stage Learning Cycle relied upon for a theoretical foundation. The observed structure is more indicative of a three-stage learning cycle of Action, Reflection and Planning.