Managers / Q2 2019 · view latest →
Lancaster Investment Management
CIK 0001630064 · YALDING HOUSE, 152-156 GREAT PORTLAND STREET, LONDON, X0, W1W 6AJ · 011442078421049
Summary
Lancaster Investment Management reported $294M in U.S.-listed holdings across 11 positions for Q2 2019.
The portfolio is heavily concentrated: ALV alone accounts for 20.2% of reported value.
Compared with Q1 2019, the fund opened 1 new position and exited 1.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 96.7% · $285M
- Unit · 3.3% · $10M
Quarter-over-Quarter Changes full breakdown →
vs Q1 2019 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| STARS GROUP INC | NEW | +879.3K | 879.3K | +$15M | $15M |
| UBSUBS GROUP AG | SOLD OUT | −5.14M | 0 | −$62M | $0 |
| CONSOL ENERGY INC NEW | ADDED | +388.7K | 1.09M | +$5M | $29M |
| GRAFTECH INTL LTD | ADDED | +406.1K | 1.59M | +$3M | $18M |
| AVAYA HLDGS CORP | ADDED | +713.9K | 3.19M | −$4M | $38M |
| AERAERCAP HOLDINGS NV | TRIMMED | −150.4K | 389.2K | −$5M | $20M |
| OPTUALTICE USA INC | ADDED | +184.8K | 1.56M | +$8M | $38M |
| MEREDITH CORP | TRIMMED | −45.2K | 296.3K | −$3M | $16M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q2 2019
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | ALVAUTOLIV INChistory → | COM | 20.22% | $60M | 844.4K |
| 2 | OPTUALTICE USA INChistory → | CL A | 12.90% | $38M | 1.56M |
| 3 | AVAYA HLDGS CORP | COM | 12.90% | $38M | 3.19M |
| 4 | CMCSACOMCAST CORP NEWhistory → | CL A | 10.07% | $30M | 701.5K |
| 5 | CONSOL ENERGY INC NEW | COM | 9.87% | $29M | 1.09M |
| 6 | CHTRCHARTER COMMUNICATIONS INC Nhistory → | CL A | 7.02% | $21M | 52.3K |
| 7 | AERAERCAP HOLDINGS NVhistory → | SHS | 6.87% | $20M | 389.2K |
| 8 | GRAFTECH INTL LTD | COM | 6.22% | $18M | 1.59M |
| 9 | MEREDITH CORP | COM | 5.54% | $16M | 296.3K |
| 10 | STARS GROUP INC | COM | 5.10% | $15M | 879.3K |
| 11 | KRPKIMBELL RTY PARTNERS LPhistory → | UNIT | 3.27% | $10M | 597.0K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $182M | 9 | Apr 20, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $195M | 8 | Jan 12, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $233M | 8 | Oct 8, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $313M | 8 | Jul 29, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $135M | 6 | Apr 30, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $113M | 5 | Feb 10, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $160M | 7 | Nov 1, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $153M | 6 | Jul 30, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $125M | 5 | May 31, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | Under review | 8 | Jan 26, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | Under review | 2 | Oct 12, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $94M | 3 | Jul 28, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $98M | 4 | Apr 11, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $71M | 4 | Jan 17, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $59M | 4 | Oct 27, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $77M | 5 | Jul 8, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $85M | 5 | May 6, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $77M | 5 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $42M | 5 | Oct 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $2M | 3 | Jul 26, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $28M | 1 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $43M | 2 | Nov 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $68M | 14 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $142M | 13 | May 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $239M | 10 | Feb 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $339M | 12 | Nov 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $294M | 11 | Aug 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $331M | 11 | May 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $371M | 13 | Feb 14, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.