LI
Lancaster Investment Management 13F Disclosure (Q2 2026) — Portfolio & Holdings
Lancaster Investment ManagementCIK: 0001630064
Sector-focusedLong-term holderQuality / disciplined sizing
Total reported value
$165.4M
Reporting period: 2026-06-30 · Number of holdings: 10
Lancaster Investment Management disclosed 10 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $165.4M and a quarterly turnover rate of 0.0%.
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Personality snowflake
- Concentration
- 78.01
- Portfolio Stability
- 0
- Momentum
- 50
- Sector conviction
- 100
- Diversification
- 20
- Sizing Uniformity
- 89.72
Lancaster Investment Management's disclosed holdings carry a Herfindahl concentration index of 0.195 — mathematically equivalent to about 5 equally-sized positions, well below its 10 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.03), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 45% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy ECHO
Sold out ALV
Trim DKS
-91.4% -$16.4M
Sold out BUD
New buy GGAL
Sold out HDB
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | LBTYA | Liberty Global Ltd. | Stock-Other | 26.00% | -2.31% | -11.13% | |
| 2 | ECHO | Echostar Corp-a | Stock-Comm Services | 24.12% | +24.12% | NEW | |
| 3 | FLUT | Flutter Entertainment plc | Stock-Consumer Disc | 20.14% | +0.17% | -8.39% | |
| 4 | MANU | Manchester United plc | Stock-Other | 14.36% | +5.33% | +6.15% | |
| 5 | GGAL | Grupo Financiero Galicia-adr | Stock-Other | 6.36% | +6.36% | NEW | |
| 6 | BMA | Banco Macro Sa-adr | Stock-Other | 6.13% | +6.13% | NEW | |
| 7 | LEVI | Levi Strauss & Co- Class A | Stock-Other | 1.11% | +1.11% | NEW | |
| 8 | DKS | Dick's Sporting Goods Inc | Stock-Consumer Disc | 1.07% | -8.92% | -91.44% | |
| 9 | GLRE | Greenlight Capital Re, Ltd. | Stock-Other | 0.70% | -0.35% | -34.57% | |
| 10 | ✓ | Brookfield CORP | Stock-Other | — | -1.09% | — |
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Portfolio Performance
Performance for Q3 2026
-7.7%
Performance Last 4 Quarters
-22.4%
- Stdev
- +22.2%
- Beta
- +1.1
- Alpha
- -14.9%
- Max Drawdown
- -24.6%
- Annualized Perf
- +4.8%
- Batting Avg vs S&P
- +36.1%
- Sortino
- +0.55
- Stutzer
- +0.09
- Treynor
- +0.06
- Sterling
- +0.21
- Calmar
- +0.19
- Information Ratio
- -0.76
- Tracking Error
- +17.1%
- Stdev Down
- +12.6%
- Winning Months %
- +44.4%
- Losing Months %
- +55.6%
- Best 12 Months
- +28.8%
- Worst 12 Months
- -22.4%
- Efficiency Ratio
- +0.08
- Sharpe
- +0.32
- Stdev Sectors
- +3.2%
- Skewness
- +0.53
- Kurtosis
- -0.53
- Upside Potential
- +2.67
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 10 | $165.4M | 0 | ||
| 2026 Q1 | 9 | $181.7M | 48 | ||
| 2025 Q4 | 8 | $195.0M | 25 | ||
| 2025 Q3 | 8 | $233.3M | 40 | ||
| 2025 Q2 | 8 | $312.9M | 0 | ||
| 2025 Q1 | 6 | $134.9M | 100 | ||
| 2024 Q4 | 5 | $112.9M | 0 | ||
| 2024 Q3 | 7 | $159.5M | 0 | ||
| 2024 Q2 | 6 | $153.1M | 0 | ||
| 2024 Q1 | 5 | $125.3M | 0 | ||
| 2023 Q4 | 8 | $191.0M | 0 | ||
| 2023 Q3 | 2 | $93.3M | 0 | ||
| 2023 Q2 | 3 | $94.0M | 0 | ||
| 2023 Q1 | 4 | $97.9M | 0 | ||
| 2022 Q4 | 4 | $71.1M | 0 | ||
| 2022 Q3 | 4 | $59.4M | 0 | ||
| 2022 Q2 | 5 | $77.5M | 0 | ||
| 2022 Q1 | 5 | $84.8M | 0 | ||
| 2021 Q4 | 5 | $76.6M | 0 | ||
| 2021 Q3 | 5 | $42.3M | 0 | ||
| 2021 Q2 | 3 | $2.3M | 81 | ||
| 2021 Q1 | 2 | $1.6M | 100 | ||
| 2020 Q4 | 1 | $27.5M | 43 | ||
| 2020 Q3 | 2 | $42.5M | 47 | ||
| 2020 Q2 | 14 | $68.1M | 89 | ||
| 2020 Q1 | 13 | $141.9M | 84 | ||
| 2019 Q4 | 10 | $239.4M | 41 | ||
| 2019 Q3 | 12 | $338.7M | 59 | ||
| 2019 Q2 | 11 | $294.5M | 36 | ||
| 2019 Q1 | 11 | $330.6M | 42 | ||
| 2018 Q4 | 13 | $371.0M | 100 | ||
| 2016 Q3 | 1 | $56.6M | 7 | ||
| 2016 Q2 | 1 | $52.5M | 44 | ||
| 2016 Q1 | 1 | $81.9M | 17 | ||
| 2015 Q4 | 1 | $97.1M | 0 |
Holding changes this quarter
Lancaster Investment Management's most significant position changes for 2026-06-30: New buy: Echostar Corp-a (ECHO); Sold out: Autoliv Inc (ALV); Sold out: Anheuser-busch Inbev-spn Adr (BUD); Sold out: Hdfc Bank Ltd-adr (HDB); New buy: Grupo Financiero Galicia-adr (GGAL).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ECHO | Echostar Corp-a | +24.1% | NEW | New buy |
| 2 | GGAL | Grupo Financiero Galicia-adr | +6.4% | NEW | New buy |
| 3 | BMA | Banco Macro Sa-adr | +6.1% | NEW | New buy |
| 4 | MANU | Manchester United plc | +5.3% | +6.15% | Add |
| 5 | LEVI | Levi Strauss & Co- Class A | +1.1% | NEW | New buy |
| 6 | FLUT | Flutter Entertainment plc | +0.2% | -8.39% | Trim |
| 7 | GLRE | Greenlight Capital Re, Ltd. | -0.4% | -34.57% | Trim |
| 8 | ✓ | Brookfield CORP | -1.1% | — | Unchanged |
| 9 | LBTYA | Liberty Global Ltd. | -2.3% | -11.13% | Trim |
| 10 | HDB | Hdfc Bank Ltd-adr | -6.2% | EXIT | Sold out |
| 11 | BUD | Anheuser-busch Inbev-spn Adr | -8.1% | EXIT | Sold out |
| 12 | DKS | Dick's Sporting Goods Inc | -8.9% | -91.44% | Trim |
| 13 | ALV | Autoliv Inc | -16.2% | EXIT | Sold out |
Filing History
FAQ
What is Lancaster Investment Management and what type of investor is it?
Lancaster Investment Management is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $165.4M, spread across 10 disclosed positions.
What are Lancaster Investment Management's largest equity positions?
Based on the latest 13F filing, Lancaster Investment Management's top holdings by market value are:
1. Liberty Global Ltd. (LBTYA) — $43.0M (26.0%)
2. Echostar Corp-a (ECHO) — $39.9M (24.1%)
3. Flutter Entertainment plc (FLUT) — $33.3M (20.1%)
4. Manchester United plc (MANU) — $23.8M (14.4%)
5. Grupo Financiero Galicia-adr (GGAL) — $10.5M (6.4%)
What changes did Lancaster Investment Management make in its most recent portfolio filing?
In the latest reported quarter, Lancaster Investment Management made 12 notable position adjustments: 4 new positions were initiated, 1 existing holdings were added to, 4 positions were partially reduced, and 3 were completely exited. The largest of these moves: New buy: Echostar Corp-a (ECHO); Sold out: Autoliv Inc (ALV); Sold out: Anheuser-busch Inbev-spn Adr (BUD); Sold out: Hdfc Bank Ltd-adr (HDB); New buy: Grupo Financiero Galicia-adr (GGAL)
What sectors does Lancaster Investment Management focus on?
Lancaster Investment Management is concentrated in the following sectors based on its current disclosed equity portfolio:
• Communication Services: 53.2%
• Consumer Discretionary: 46.8%
Investment Profile
Lancaster Investment Management returned an annualized 4.8% over the trailing 36 months — underperforming the S&P 500 by 14.9 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.10 (roughly in line with the market) and a 36% quarterly batting average against the index.
Its portfolio is concentrated and long-term-holding, with 53.2% of the portfolio concentrated in Communication Services.
Its concentration score has fallen from 100 to 78 over the past 4 quarters — a shift toward broader diversification.
It has added to its MANU position over the past two quarters (+$9.4M, now $23.8M), while trimming DKS over the same stretch (-$16.8M, still holding $1.8M).
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Sector conviction66.8
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Developer Access
Access Lancaster Investment Management's institutional profile programmatically:
REST API
curl https://alphasmo.com/api/v1/institutions/lancaster-investment-managementCLI
npx alphasmo institutions get lancaster-investment-management