Lancaster Investment Management

Q4 2025 13F-HR Holdings

Location
London, X0
Holdings as of
12/31/2025
Date filed
1/12/2026
Form type
13F-HR
Num holdings
8
Total value ($000)
$194,963
Net value change ($000)
-38,318 (-16.4%)
New positions
1
Sold out positions
1
Turnover %
6.7%
Sector allocation + QoQ delta (equities-only)
Prev filing: 10/8/2025 Next filing: 4/20/2026 SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
NKE 5,753 NEW
HDB 1,301 8.2%
MANU 839 6.2%
GLRE 207 14.8%
Top Reduces (Value $000, Stocks/ETFs)
DKS -13,018 -41.3%
FLUT -12,748 -31.5%
LBTYA -7,447 -15.6%
TXG -7,269 -100.0%
ALV -5,936 -7.8%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type