Form D · Hedge Fund

Lionstone Fund, Ltd.

Hamilton, D0 · CIK 0001347556

Offering snapshot reported Sep 23, 2026 · SEC filing

Reported sold
$161M
Indefinite offering
Investors reported
47
Form D · investor count
Minimum accepted
$1M
Reported outside-investor minimum
First sale
Oct 1, 2004
As reported in this filing

Fundraising history

Reported sold
Reported amount sold by Form D filing date$0$80.4M$161MMar 16, 2009: $141,121,330.00Mar 16, 2009Mar 3, 2010: $141,121,330.00Mar 3, 2011: $141,121,330.00Mar 2, 2012: $141,121,330.00Mar 1, 2013: $141,121,330.00Mar 3, 2014: $142,361,392.00Mar 3, 2015: $142,361,392.00Feb 25, 2016: $142,361,392.00Feb 24, 2017: $142,878,392.00Feb 23, 2018: $142,878,392.00Feb 22, 2019: $142,878,392.00Feb 21, 2020: $142,878,392.00Feb 22, 2021: $142,878,392.00Feb 22, 2022: $142,878,392.00Sep 22, 2022: $142,878,392.00Sep 22, 2023: $160,878,392.00Sep 23, 2024: $160,878,392.00Sep 23, 2025: $160,878,392.00Sep 23, 2026: $160,878,392.00Sep 23, 2026

Dates are filing dates, not cash receipt dates. Decreases are reported revisions, not evidence of withdrawals. Separate offering histories are not added together.

What changed?

Latest filing versus its linked predecessor, where available.

No comparable changes in the displayed metrics.

Filing history

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FiledFiling typeReported soldChange vs linked filingInvestorsSource
Sep 23, 2026Amendment$160,878,392$0vs Sep 23, 202547SEC filing
Sep 23, 2025Amendment$160,878,392$0vs Sep 23, 202447SEC filing
Sep 23, 2024Amendment$160,878,392$0vs Sep 22, 202347SEC filing
Sep 22, 2023Amendment$160,878,392$18,000,000vs Sep 22, 202244SEC filing
Sep 22, 2022Amendment$142,878,392$0vs Feb 22, 202243SEC filing
Feb 22, 2022Amendment$142,878,392$0vs Feb 22, 202143SEC filing
Feb 22, 2021Amendment$142,878,392$0vs Feb 21, 202043SEC filing
Feb 21, 2020Amendment$142,878,392$0vs Feb 22, 201943SEC filing
Feb 22, 2019Amendment$142,878,392$0vs Feb 23, 201843SEC filing
Feb 23, 2018Amendment$142,878,392$0vs Feb 24, 201743SEC filing
Feb 24, 2017Amendment$142,878,392$517,000vs Feb 25, 201643SEC filing
Feb 25, 2016Amendment$142,361,392$0vs Mar 3, 201543SEC filing
Mar 3, 2015Amendment$142,361,392$0vs Mar 3, 201443SEC filing
Mar 3, 2014Amendment$142,361,392$1,240,062vs Mar 1, 201343SEC filing
Mar 1, 2013Amendment$141,121,330$0vs Mar 2, 201241SEC filing
Mar 2, 2012Amendment$141,121,330$0vs Mar 3, 201141SEC filing
Mar 3, 2011Amendment$141,121,330$0vs Mar 3, 201041SEC filing
Mar 3, 2010Amendment$141,121,330$0vs Mar 16, 200941SEC filing
Mar 16, 2009Amendment$141,121,330No comparisonNot reportedSEC filing
Nov 25, 2005PaperNot reportedNo comparisonNot reportedSEC filing

Offering details

Securities
Pooled investment fund
Exemptions
06b, 3C, 3C.1
Duration over one year
Yes
Business combination
No
Sales commissions
$0
Finders' fees
$0
Form D file number
021-84401
Min. investment reflected in Item 11 subject to waiver, reduction or change in the sole discretion of the Board of Directors. Item 13 includes $103,874,475 in sales to foreign investors. Total investors in Item 14 includes 26 foreign investors.

Source: Form D, filed Sep 23, 2026. Minimum accepted may differ from a standard advertised minimum.

Fund connections

The linked fund shows its most recently reported ADV details.

Matched by reported Form D file number

LIONSTONE FUND, LTD.

Investment adviser: LIONSTONE CAPITAL MANAGEMENT LLC

Gross asset value
$48.6M
Beneficial owners
10
ADV minimum commitment
$1M

Reported in Form ADV on Mar 31, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator SS&C FUND SERVICES (BERMUDA) LTD. HAMILTON, Bermuda Investor statements: Yes (provided to all investors) Related to adviser: No
Fund administrator SS&C TECHNOLOGIES, INC. NEW YORK, New York, United States Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor ERNST & YOUNG LTD. HAMILTON, Bermuda
Custodian CITIBANK, N.A. NEW YORK, New York, United States Related to adviser: No
Custodian CITIGROUP GLOBAL MARKETS INC. NEW YORK, New York, United States Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

ERNST & YOUNG LTD.
PCAOB 1277

CITIBANK, N.A.
LEI E57ODZWZ7FF32TWEFA76

CITIGROUP GLOBAL MARKETS INC.
SEC 8-8177

Filing source

Form ADV 2086084 · Mar 31, 2026 · Schedule D 7.B.(1), fund 805-1638594489

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

People & organizations

Current and past Form D appearances. These existing records do not establish a person's current role or uniquely identify them across issuers.

People and organizations reported in Form D filings
NameReported role
James Keyes Director
Oskar P. Lewnoski Director
Oskar P. Lewnowski Director
N/A N/A Lionstone Capital Management Llc Promoter
Lee Lowenstein Director, Executive
Herbert M. Selzer Director

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:
Ocorian Services (Bermuda) Limited Victoria Place, 5 Th Fl., 31 Victoria Str
Hamilton, D0, HM 10