# Lancaster Investment Management LLP

> Lancaster Investment Management LLP is an SEC-registered investment advisory firm in London, United Kingdom, registered since 2011, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated June 16, 2026.

- CRD: 158068
- Filed as: LANCASTER INVESTMENT MANAGEMENT LLP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: London, United Kingdom
- Filing period: October 2026
- Form ADV filing dated: June 16, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/158068
- AdvisorCensus page: https://advisorcensus.com/firm/lancaster-investment-management-llp-london-158068

## Quick answers

**How is Lancaster Investment Management LLP compensated?**
On its Form ADV (Item 5.E, October 2026), Lancaster Investment Management LLP reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Lancaster Investment Management LLP located?**
Lancaster Investment Management LLP's principal office is in London, United Kingdom, according to its Form ADV.

**Is Lancaster Investment Management LLP registered with the SEC or a state?**
Lancaster Investment Management LLP is an SEC-registered investment advisory firm, registered since 2011. Status as filed: Approved. CRD 158068.

**How much does Lancaster Investment Management LLP manage?**
Lancaster Investment Management LLP reports $2,062,601,290 in regulatory assets under management in its Form ADV filing dated June 16, 2026 (100% discretionary).

**How have Lancaster Investment Management LLP's assets and staff changed since 2021?**
In the Form ADV data for Lancaster Investment Management LLP: Regulatory assets under management: $1,011,975,532 in the October 2021 data and $2,062,601,290 in the October 2026 data, up 104%. Total employees: 10 in October 2021 and 18 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Lancaster Investment Management LLP serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (4).

**Does Lancaster Investment Management LLP report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/158068

**What changed in Lancaster Investment Management LLP's recent Form ADV filings?**
In the July 2026 filing data: Employees performing advisory functions went from 13 to 14. Regulatory assets under management went from $1,766,845,666 to $2,062,601,290 (+17%). Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $2,062,601,290
- Discretionary: $2,062,601,290
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 4 | $2,062,601,290 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2011 (14 years)
- Employees: 18 total, 14 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- lancasterim.co.uk
- LinkedIn @lancaster-investment-management

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,011,975,532 | 10 | June 30, 2021 |
| October 2022 | $1,286,447,330 | 10 | June 1, 2022 |
| October 2023 | $1,424,606,625 | 8 | June 28, 2023 |
| October 2024 | $1,475,727,726 | 17 | June 28, 2024 |
| October 2025 | $1,766,845,666 | 18 | June 25, 2025 |
| October 2026 | $2,062,601,290 | 18 | June 16, 2026 |

Regulatory assets under management: $1,011,975,532 in the October 2021 data and $2,062,601,290 in the October 2026 data, up 104%.
Total employees: 10 in October 2021 and 18 in October 2026.

## Changes in the filing (last 12 months)

### July 2026
- Employees performing advisory functions went from 13 to 14.
- Regulatory assets under management went from $1,766,845,666 to $2,062,601,290 (+17%).
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Lancaster Investment Management LLP (CRD 158068): Form ADV filing data as of October 2026.