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L1 Capital Portfolio holdings

AUM $2.97B
1-Year Est. Return 43.46%
This Fund
S&P 500
This Quarter Est. Return
-5.21%
1 Year Est. Return
+43.46%
3 Year Est. Return
+126.51%
5 Year Est. Return
+187.16%
10 Year Est. Return
–
AUM
$2.97B
AUM Growth
+$428M
Cap. Flow
+$731M
Cap. Flow %
24.56%
Top 10 Hldgs %
82.73%
Holding
31
New
9
Increased
9
Reduced
5
Closed
7

Top Buys

Rank Stock Value
1
HBM icon
Hudbay
HBM
+$252M
2
BTG icon
B2Gold
BTG
+$224M
3
CGAU
Centerra Gold
CGAU
+$163M
4
EGO icon
Eldorado Gold
EGO
+$129M
5
AA icon
Alcoa
AA
+$96.1M

Top Sells

Rank Stock Value
1
FLUT icon
Flutter Entertainment
FLUT
+$180M
2
NWS icon
News Corp Class B
NWS
+$66.5M
3
CRH icon
CRH
CRH
+$64.4M
4
SCO icon
ProShares UltraShort Bloomberg Crude Oil
SCO
+$43.2M
5
EXP icon
Eagle Materials
EXP
+$40.6M

Sector Composition

Rank Sector Weight
1 Materials 67.25%
2 Energy 11.98%
3 Consumer Discretionary 9.78%
4 Financials 3.09%
5 Healthcare 2.58%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EXP icon
26
Eagle Materials
EXP
$5.6B
– –
-214,538
Closed -$40.6M
NCLH icon
27
Norwegian Cruise Line
NCLH
$6.76B
– –
-911,342
Closed -$17M
SCO icon
28
ProShares UltraShort Bloomberg Crude Oil
SCO
$882M
– –
-1,296,999
Closed -$43.2M
TECK icon
29
Teck Resources
TECK
$32.5B
– –
-634,547
Closed -$32.8M
FLUT icon
30
Flutter Entertainment
FLUT
$17.5B
– –
-1,769,255
Closed -$180M
SLSR
31
Solaris Resources
SLSR
$1.32B
– –
-1,967,387
Closed -$17M
1
2

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EWA
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GI
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MSL
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ACIM
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SW
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FI
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WBG
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L1 Capital's Q2 2026 Portfolio in Review

As of Q2 2026, L1 Capital held 31 positions worth $2.97B, up 17% from $2.55B the previous quarter. Its ten largest holdings account for 83% of the portfolio.

L1 Capital deployed $731M of net new capital in Q2 2026, opening 9 new positions and adding to 9 existing holdings. Its largest new stake was Hudbay: 9,977,133 shares worth $236M.

By sector, the portfolio is most concentrated in Materials at 67% of assets, up from 54% a quarter earlier, followed by Energy and Consumer Discretionary.

On the sell side, the largest reduction was News Corp Class B, an estimated $66.5M trimmed.

  • L1 Capital's largest Q2 2026 buy was Hudbay: 9,977,133 shares worth $236M.
  • L1 Capital added most to Centerra Gold in Q2 2026, an estimated $163M increase.
  • L1 Capital's biggest Q2 2026 reduction was News Corp Class B, cutting an estimated $66.5M.
  • L1 Capital fully exited Flutter Entertainment in Q2 2026, selling an estimated $180M.
  • L1 Capital's ten largest holdings make up 83% of its $2.97B portfolio in Q2 2026.
  • L1 Capital opened 9 new positions and closed 7 in Q2 2026.
  • L1 Capital's portfolio value rose 17% quarter-over-quarter to $2.97B.

Based on L1 Capital's 13F filing for Q2 2026, filed 13 Aug 2026.