Lancaster Investment Management
LONDON, X0
$165m in 9 US stocks at the end of 30 June 2026. The top 10 are 100.0% of the money. It changed about 42.9% of the portfolio this quarter.
Value
$165m
Stocks
9
Top 10 share
100.0%
Turnover
42.9%
What changed this quarter
New
Bought for the first time this quarter.
- EchoStarECHO24.1% of the fund
- Grupo Financiero Galicia S.AGGAL6.4% of the fund
- Macro BankBMA6.1% of the fund
- Levi StraussLEVI1.1% of the fund
Added
Bought more of a stock they already held.
- Manchester UnitedMANU14.4% of the fund+6%
Cut
Sold some of their stake.
- Liberty GlobalLBTYA26.0% of the fund-11%
- Flutter EntertainmentFLUT20.1% of the fund-8%
- Dick's Sporting GoodsDKS1.1% of the fund-91%
- Greenlight Capital REGLRE0.7% of the fund-35%
Sold out
Sold their entire stake.
- AutolivALV-100%
- Anheuser-Busch InBev SABUD-100%
- HDFC BankHDB-100%
Holdings
- Grupo Financiero Galicia S.AGGAL
- Share
- 6.4%
- Value
- $11m
- Shares
- 210,104
New
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Liberty GlobalLBTYA | 26.0% | $43m | 3,781,791 | -11% |
| EchoStarECHO | 24.1% | $40m | 393,009 | New |
| Flutter EntertainmentFLUT | 20.1% | $33m | 326,109 | -8% |
| Manchester UnitedMANU | 14.4% | $24m | 1,036,114 | +6% |
| Grupo Financiero Galicia S.AGGAL | 6.4% | $11m | 210,104 | New |
| Macro BankBMA | 6.1% | $10m | 109,547 | New |
| Levi StraussLEVI | 1.1% | $2m | 74,244 | New |
| Dick's Sporting GoodsDKS | 1.1% | $2m | 7,840 | -91% |
| Greenlight Capital REGLRE | 0.7% | $1m | 71,968 | -35% |
Options (1)
- Brookfield
- Type
- Put
- Value
- $5,000
- Contracts
- 11,031
| Company | Type | Value | Contracts |
|---|---|---|---|
| Brookfield | Put | $5,000 | 11,031 |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 47.1% since 30 June 2025.
Where the money is
Media & telecom50.1%
Technology20.1%
Retail & consumer16.6%
Financial services6.8%
Other6.4%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.