# LONESTAR CAPITAL MANAGEMENT LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1317410. Source: https://holderbook.com/funds/1317410-lonestar-capital-management-llc/

- Reported value: $345.4M
- Positions: 28
- Weight of the ten largest: 79.5%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $112.0M | 0 | 32.4% | 5 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $73.6M | 0 | 21.3% | 4 |
| GARRETT MOTION INC | [GTX](https://holderbook.com/stocks/GTX/) | $19.9M | 550,000 | 5.8% | 13 |
| ENERGY TRANSFER L P | [ET](https://holderbook.com/stocks/ET/) | $17.2M | 900,000 | 5.0% | 22 |
| GLOBAL SHIP LEASE INC | [GSL](https://holderbook.com/stocks/GSL/) | $10.9M | 290,000 | 3.2% | 5 |
| DIVERSIFIED HEALTHCARE TR | [DHC](https://holderbook.com/stocks/DHC/) | $9.8M | 1,050,000 | 2.8% | 14 |
| TARGET HOSPITALITY CORP | [TH](https://holderbook.com/stocks/TH/) | $8.8M | 433,100 | 2.6% | 3 |
| BROOKDALE SR LIVING INC | [BKD](https://holderbook.com/stocks/BKD/) | $8.7M | 540,000 | 2.5% | 3 |
| COVISTA INC | [CVSA](https://holderbook.com/stocks/CVSA/) | $6.9M | 55,000 | 2.0% | 1 |
| TRANSOCEAN LTD | [RIG](https://holderbook.com/stocks/RIG/) | $6.7M | 475,000 | 1.9% | 3 |
| VISTRA CORP | [VST](https://holderbook.com/stocks/VST/) | $6.3M | 40,000 | 1.8% | 3 |
| TALEN ENERGY CORP | [TLN](https://holderbook.com/stocks/TLN/) | $6.1M | 16,000 | 1.8% | 3 |
| VANECK ETF TRUST | [GDX](https://holderbook.com/stocks/GDX/) | $6.0M | 80,000 | 1.7% | 5 |
| DAUCH CORP | [DCH](https://holderbook.com/stocks/DCH/) | $5.1M | 950,000 | 1.5% | 7 |
| CELANESE CORP DEL | [CE](https://holderbook.com/stocks/CE/) | $5.1M | 110,000 | 1.5% | 3 |
| EXPAND ENERGY CORPORATION | [EXE](https://holderbook.com/stocks/EXE/) | $5.0M | 55,000 | 1.5% | 7 |
| LINCOLN EDL SVCS CORP | [LINC](https://holderbook.com/stocks/LINC/) | $4.2M | 83,911 | 1.2% | 3 |
| DOW HLDGS INC | [DOW](https://holderbook.com/stocks/DOW/) | $4.1M | 150,000 | 1.2% | 3 |
| NRG ENERGY INC | [NRG](https://holderbook.com/stocks/NRG/) | $3.9M | 27,000 | 1.1% | 7 |
| KYIVSTAR GROUP LTD | [KYIV](https://holderbook.com/stocks/KYIV/) | $3.9M | 240,000 | 1.1% | 1 |
| LUMEN TECHNOLOGIES INC | [LUMN](https://holderbook.com/stocks/LUMN/) | $3.8M | 500,000 | 1.1% | 4 |
| UNIVERSAL TECHNICAL INST INC | [UTI](https://holderbook.com/stocks/UTI/) | $3.6M | 85,000 | 1.1% | 2 |
| EQT CORP | [EQT](https://holderbook.com/stocks/EQT/) | $3.2M | 60,000 | 0.9% | 7 |
| LYONDELLBASELL INDUSTRIES NV | [LYB](https://holderbook.com/stocks/LYB/) | $3.2M | 60,000 | 0.9% | 2 |
| SEADRILL LTD | [SDRL](https://holderbook.com/stocks/SDRL/) | $2.1M | 55,000 | 0.6% | 3 |
| GALAXY DIGITAL INC. | [GLXY](https://holderbook.com/stocks/GLXY/) | $1.9M | 70,000 | 0.6% | 1 |
| ADT INC DEL | [ADT](https://holderbook.com/stocks/ADT/) | $1.6M | 250,000 | 0.5% | 1 |
| SERVICE PPTYS TR | [SVC](https://holderbook.com/stocks/SVC/) | $1.5M | 900,000 | 0.4% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +6.5% | +14.8% | -8.3% | 91% |
| Q1 2026 | +12.7% | -4.6% | +17.3% | 100% |
| Q4 2025 | +3.1% | +2.4% | +0.7% | 100% |
| Q3 2025 | +11.2% | +7.8% | +3.4% | 100% |
| Q2 2025 | +17.3% | +10.5% | +6.9% | 100% |
| Q1 2025 | -8.4% | -4.6% | -3.9% | 100% |
| Q4 2024 | -0.6% | +2.1% | -2.8% | 76% |
| Q3 2024 | +6.0% | +5.4% | +0.6% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $345.4M | 28 |
| Q1 2026 | $670.8M | 31 |
| Q4 2025 | $624.2M | 31 |
| Q3 2025 | $684.9M | 27 |
| Q2 2025 | $269.6M | 18 |
| Q1 2025 | $261.0M | 18 |
| Q4 2024 | $273.9M | 22 |
| Q3 2024 | $591.2M | 19 |
| Q2 2024 | $89.8M | 13 |
| Q1 2024 | $1.1B | 22 |
| Q4 2023 | $683.9M | 20 |
| Q3 2023 | $704.5M | 25 |