Q2 2026 13F · SEC CIK 1630064
Lancaster Investment Management
Asset managerFiled 2026-07-13 for Q2 2026. Open the filing ↗ · All SEC filings ↗
- Reported 13F value
- $165.4M
- Reported positions
- 9
- Top holdings a year, 3 yrs
- -7.0%
- Average holding period
- 1.4 yrs
Lancaster Investment Management is an asset manager that reported 9 positions worth $165.4M in its Q2 2026 13F, filed 2026-07-13. Its largest holdings were Liberty Global Ltd (LBTYA, 26.0%), Echostar Corp (ECHO, 24.1%), Flutter Entmt PLC (FLUT, 20.1%). A portfolio copying its top holdings returned -7.0% a year over the last 3 years, against 18.8% for the S&P 500.
Lancaster Investment Management holdings all 9 positions.
Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.
| Stock | % of 13F value | Share change | Reported value |
|---|---|---|---|
| LBTYALiberty Global Ltd | 26.0% | -11.1% | $43.0M |
| ECHOEchostar Corp | 24.1% | — | $39.9M |
| FLUTFlutter Entmt PLC | 20.1% | -8.4% | $33.3M |
| MANUManchester Uni-A | 14.4% | +6.2% | $23.8M |
| GGALGrupo Financiero Galicia ADR | 6.4% | — | $10.5M |
| BMABanco Macro Bansud S A Sponsored ADR Rep | 6.1% | — | $10.1M |
| LEVILevi Strauss & Co New | 1.1% | — | $1.8M |
| DKSDicks Sporting Goods Inc Com | 1.1% | -91.4% | $1.8M |
| GLREGreenlight Cap Re Ltd | 0.7% | -34.6% | $1.2M |
What Lancaster Investment Management bought and sold in Q2 2026, against Q1 2026.
New positions
- ECHO Echostar Corp24.1% of 13F
- GGAL Grupo Financiero Galicia ADR6.4% of 13F
- BMA Banco Macro Bansud S A Sponsored ADR Rep6.1% of 13F
- LEVI Levi Strauss & Co New1.1% of 13F
Added to
- MANU Manchester Uni-A+6.2% shares
Reduced
- DKS Dicks Sporting Goods Inc Com-91.4% shares
- GLRE Greenlight Cap Re Ltd-34.6% shares
- LBTYA Liberty Global Ltd-11.1% shares
- FLUT Flutter Entmt PLC-8.4% shares
Sold out
- ALV Autoliv Incwas 16.4%
- BUD Anheuser Busch Inbev ADRwas 8.2%
- HDB Hdfc Bk Ltd ADRwas 6.3%
Share counts compared with the Q1 2026 13F; a split also changes share counts.
How the holdings did against the S&P 500.
- 1 year
- -25.0% /yr
- S&P 500 +20.1%
- 3 years
- -7.0% /yr
- S&P 500 +18.8%
- 5 years
- -9.1% /yr
- S&P 500 +8.6%
A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.
Reported 13F value by quarter.
| Quarter | 13F value | Positions |
|---|---|---|
| Q2 2026 | $165.4M | 9 |
| Q1 2026 | $179.7M | 8 |
| Q4 2025 | $195.0M | 8 |
| Q3 2025 | $233.3M | 8 |
| Q2 2025 | $312.9M | 8 |
| Q1 2025 | $134.9M | 6 |
| Q4 2024 | $112.9M | 5 |
| Q3 2024 | $159.5M | 7 |
| Q2 2024 | $153.1M | 6 |
| Q1 2024 | $125.3M | 5 |
| Q4 2023 | $191.0M | 8 |
| Q2 2022 | $77.5M | 5 |
Questions about Lancaster Investment Management's portfolio
What stocks does Lancaster Investment Management own?
Lancaster Investment Management's latest 13F, for Q2 2026 and filed Jul 13, 2026, lists 9 positions worth $165.4M. The largest are Liberty Global Ltd (LBTYA) at 26.0%, Echostar Corp (ECHO) at 24.1%, Flutter Entmt PLC (FLUT) at 20.1%, Manchester Uni-A (MANU) at 14.4% and Grupo Financiero Galicia ADR (GGAL) at 6.4%.
What did Lancaster Investment Management buy last quarter?
In Q2 2026, Lancaster Investment Management added a new position in Echostar Corp (ECHO), a new position in Grupo Financiero Galicia ADR (GGAL), a new position in Banco Macro Bansud S A Sponsored ADR Rep (BMA), a new position in Levi Strauss & Co New (LEVI) and Manchester Uni-A (MANU) (+6.2% shares), compared with its Q1 2026 filing.
What did Lancaster Investment Management sell last quarter?
In Q2 2026, Lancaster Investment Management sold all of Autoliv Inc (ALV), sold all of Anheuser Busch Inbev ADR (BUD), sold all of Hdfc Bk Ltd ADR (HDB), Dicks Sporting Goods Inc Com (DKS) (-91.4% shares), Greenlight Cap Re Ltd (GLRE) (-34.6% shares) and Liberty Global Ltd (LBTYA) (-11.1% shares), compared with its Q1 2026 filing.
How has Lancaster Investment Management's portfolio performed?
A portfolio copying Lancaster Investment Management's 20 largest 13F holdings each quarter, from the day each filing was public, returned -7.0% a year over the last 3 years, against +18.8% for the S&P 500. Over 1 year: -25.0% against +20.1%. Over 5 years: -9.1% a year against +8.6%.
When is Lancaster Investment Management's next 13F filing due?
13F filings are due 45 days after each quarter ends. Lancaster Investment Management's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.