Managers / Q1 2020 · view latest →
Lancaster Investment Management
CIK 0001630064 · YALDING HOUSE, 152-156 GREAT PORTLAND STREET, LONDON, X0, W1W 6AJ · 011442078421049
Summary
Lancaster Investment Management reported $142M in U.S.-listed holdings across 13 positions for Q1 2020.
The portfolio is heavily concentrated: ALV alone accounts for 25.6% of reported value.
Compared with Q4 2019, the fund opened 5 new positions and exited 2.
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 · 99.4% · $141M
- Other · 0.6% · $886,000
Quarter-over-Quarter Changes full breakdown →
vs Q4 2019 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| DHTDHT HOLDINGS INC | NEW | +1.28M | 1.28M | +$10M | $10M |
| FOXAFOX CORP - A | NEW | +333.2K | 333.2K | +$8M | $8M |
| BKNGBOOKING HOLDINGS | NEW | +4.5K | 4.5K | +$6M | $6M |
| ARCH COAL INC-A | NEW | +173.9K | 173.9K | +$5M | $5M |
| CARSCARS.COM INC | NEW | +484.4K | 484.4K | +$2M | $2M |
| AERAERCAP HOLDINGS | ADDED | +354.5K | 606.6K | −$2M | $14M |
| GRAFTECH INTL LTD | SOLD OUT | −1.13M | 0 | −$13M | $0 |
| PLCECHILDRENS PL INC | SOLD OUT | −127.9K | 0 | −$8M | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2020
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | ALVAUTOLIV INChistory → | COM | 25.59% | $36M | 789.1K |
| 2 | OPTUALTICE USA INC-Ahistory → | CL A | 10.17% | $14M | 647.4K |
| 3 | AERAERCAP HOLDINGShistory → | SHS | 9.74% | $14M | 606.6K |
| 4 | AVAYA HOLDINGS C | COM | 9.73% | $14M | 1.71M |
| 5 | CMCSACOMCAST CORP-Ahistory → | CL A | 8.62% | $12M | 355.7K |
| 6 | CHTRCHARTER COMMUN-Ahistory → | CL A | 7.03% | $10M | 22.9K |
| 7 | DHTDHT HOLDINGS INChistory → | SHS NEW | 6.94% | $10M | 1.28M |
| 8 | CONSOL ENERGY IN | COM | 6.74% | $10M | 2.59M |
| 9 | FOXAFOX CORP - Ahistory → | CL A COM | 5.55% | $8M | 333.2K |
| 10 | BKNGBOOKING HOLDINGShistory → | COM | 4.25% | $6M | 4.5K |
| 11 | ARCH COAL INC-A | CL A | 3.54% | $5M | 173.9K |
| 12 | CARSCARS.COM INChistory → | COM | 1.47% | $2M | 484.4K |
| 13 | BORR DRILLING LT | SHS | 0.62% | $886,000 | 1.83M |
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 ↗.