Lancaster Investment Management
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 13, 2026), Lancaster Investment Management reported 9 stock positions worth $165.4 million. Its top holding was Liberty Global Class A (LBTYA) at 26.0% of the portfolio, followed by Echostar Class A (ECHO, 24.1%) and Flutter Entertainment PLC-Di (FLUT, 20.1%). Compared with Q1 2026, it opened 4 new positions, sold out of 3, added to 1 and reduced 4. The biggest buy was a new position in Echostar Class A (ECHO) and the biggest sale an exit from Autoliv (ALV).
- Most Recent 13F
- Q2 2026
- Location
- LONDON, X0
- CIK
- 0001630064
- Portfolio Value
- $165.4M (Q2 2026)
- SEC Filing
- 0001630064-26-000003 ↗ filed Jul 13, 2026
Holdings Value
Holdings 9 stocks · $165.4M
| LBTYA Liberty Global Ltd. Class A | 26.00% | 3,781,791 | $43.0M | Reduce -11.1% |
| ECHO Echostar Corp. Class A | 24.12% | 393,009 | $39.9M | New |
| FLUT Flutter Entertainment PLC-Di | 20.14% | 326,109 | $33.3M | Reduce -8.4% |
| MANU Manchester United PLC Class A | 14.36% | 1,036,114 | $23.8M | Add +6.2% |
| GGAL Grupo Financiero Galicia-ADR | 6.36% | 210,104 | $10.5M | New |
| BMA Banco Macro SA-ADR | 6.13% | 109,547 | $10.1M | New |
| LEVI Levi Strauss & Co. Class A | 1.11% | 74,244 | $1.8M | New |
| DKS Dick's Sporting Goods Inc. | 1.07% | 7,840 | $1.8M | Reduce -91.4% |
| GLRE Greenlight Capital Re Ltd. Class A | 0.70% | 71,968 | $1.2M | Reduce -34.6% |
Options reported separately and not counted above: BROOKFIELD CORP puts ($5K).
Portfolio Sells Q1 2026 → Q2 2026
| ALV Autoliv Inc. | Sold out | 0.00% | −16.39 |
| DKS Dick's Sporting Goods Inc. | Reduce -91.4% | 1.07% | −9.03 |
| BUD Anheuser-Busch Inbev-SPN ADR | Sold out | 0.00% | −8.20 |
| HDB HDFC Bank Ltd.-ADR | Sold out | 0.00% | −6.30 |
| LBTYA Liberty Global Ltd. Class A | Reduce -11.1% | 26.00% | −2.63 |
| GLRE Greenlight Capital Re Ltd. Class A | Reduce -34.6% | 0.70% | −0.35 |
| FLUT Flutter Entertainment PLC-Di | Reduce -8.4% | 20.14% | −0.05 |
Portfolio Buys Q1 2026 → Q2 2026
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 9 | $165.4M | LBTYA, ECHO, FLUT, MANU, GGAL |
| Q1 2026 | 8 | $179.7M | LBTYA, FLUT, ALV, DKS, MANU |
| Q4 2025 | 8 | $195.0M | ALV, LBTYA, FLUT, DKS, HDB |
| Q3 2025 | 8 | $233.3M | ALV, LBTYA, FLUT, DKS, HDB |
| Q2 2025 | 8 | $312.9M | FLUT, ALV, LBTYA, NKE, HDB |
| Q1 2025 | 6 | $134.9M | ALV, LBTYA, HDB, MANU, GLRE |
| Q4 2024 | 5 | $112.9M | ALV, LBTYA, MANU, HDB, GLRE |
| Q3 2024 | 7 | $159.5M | LBTYA, ALV, RYAAY, HDB, VFC |
| Q2 2024 | 6 | $153.1M | ALV, LBTYA, RYAAY, HDB, MRNA |
| Q1 2024 | 5 | $125.3M | ALV, LBTYA, RYAAY, HDB, GLRE |