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L1 Capital Portfolio holdings

AUM $2.55B
1-Year Est. Return 80.12%
This Fund
S&P 500
This Quarter Est. Return
+8.54%
1 Year Est. Return
+80.12%
3 Year Est. Return
+138.64%
5 Year Est. Return
+244.92%
10 Year Est. Return
–
AUM
$1.07B
AUM Growth
-$109M
Cap. Flow
-$180M
Cap. Flow %
-16.93%
Top 10 Hldgs %
95.76%
Holding
14
New
2
Increased
6
Reduced
4
Closed
2

Top Buys

Rank Stock Value
1
HCA icon
HCA Healthcare
HCA
+$43.1M
2
SU icon
Suncor Energy
SU
+$25.8M
3
CVE icon
Cenovus Energy
CVE
+$17.9M
4
TECK icon
Teck Resources
TECK
+$16.6M
5
NXE icon
NexGen Energy
NXE
+$5.25M

Top Sells

Rank Stock Value
1
BABA icon
Alibaba
BABA
+$101M
2
KWEB icon
KraneShares CSI China Internet ETF
KWEB
+$101M
3
SHEL icon
Shell
SHEL
+$31.4M
4
BP icon
BP
BP
+$24.3M
5
CRH icon
CRH
CRH
+$24M

Sector Composition

Rank Sector Weight
1 Materials 44.14%
2 Energy 43.61%
3 Consumer Discretionary 6.74%
4 Healthcare 5.51%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NXE icon
1
NexGen Energy
NXE
$5.91B
$208M 19.48%
22,659,993
+843,220
+4% +$5.25M
CRH icon
2
CRH
CRH
$66.6B
$140M 13.1%
2,017,953
-398,080
-16% -$24M
CVE icon
3
Cenovus Energy
CVE
$54.2B
$127M 11.87%
7,597,906
+979,983
+15% +$17.9M
TECK icon
4
Teck Resources
TECK
$28.2B
$126M 11.8%
2,975,889
+432,450
+17% +$16.6M
HBM icon
5
Hudbay
HBM
$9.76B
$124M 11.6%
16,940,635
+641,279
+4% +$3.01M
HCC icon
6
Warrior Met Coal
HCC
$4.17B
$81.4M 7.64%
1,334,604
-215,964
-14% -$11.4M
GPK icon
7
Graphic Packaging
GPK
$3.35B
$71.8M 6.74%
2,914,493
+37,927
+1% +$850K
SHEL icon
8
Shell
SHEL
$244B
$49.1M 4.61%
746,500
-478,117
-39% -$31.4M
BP icon
9
BP
BP
$112B
$48M 4.5%
1,355,810
-663,643
-33% -$24.3M
HCA icon
10
HCA Healthcare
HCA
$90.6B
$47.1M 4.42%
+174,183
New +$43.1M
SU icon
11
Suncor Energy
SU
$77.7B
$33.5M 3.15%
+789,540
New +$25.8M
MDGL icon
12
Madrigal Pharmaceuticals
MDGL
$12.6B
$11.6M 1.09%
50,230
+1,761
+4% +$308K
BABA icon
13
Alibaba
BABA
$276B
– –
-1,165,712
Closed -$101M
KWEB icon
14
KraneShares CSI China Internet ETF
KWEB
$5.5B
– –
-3,689,988
Closed -$101M

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L1 Capital's Q4 2023 Portfolio in Review

As of Q4 2023, L1 Capital held 14 positions worth $1.07B, down 9.2% from $1.17B the previous quarter. Its ten largest holdings account for 96% of the portfolio.

L1 Capital withdrew a net $180M in Q4 2023, closing 2 positions and reducing 4 holdings. Its most notable exit was Alibaba, an estimated $101M position sold in full.

By sector, the portfolio is most concentrated in Materials at 44% of assets, up from 37% a quarter earlier, followed by Energy and Consumer Discretionary.

Against the trend, L1 Capital opened a new position in HCA Healthcare worth $47.1M.

  • L1 Capital's largest Q4 2023 buy was HCA Healthcare: 174,183 shares worth $47.1M.
  • L1 Capital added most to Cenovus Energy in Q4 2023, an estimated $17.9M increase.
  • L1 Capital's biggest Q4 2023 reduction was Shell, cutting an estimated $31.4M.
  • L1 Capital fully exited Alibaba in Q4 2023, selling an estimated $101M.
  • L1 Capital's ten largest holdings make up 96% of its $1.07B portfolio in Q4 2023.
  • L1 Capital opened 2 new positions and closed 2 in Q4 2023.
  • L1 Capital's portfolio value fell 9.2% quarter-over-quarter to $1.07B.

Based on L1 Capital's 13F filing for Q4 2023, filed 14 Feb 2024.