Q2 2026 13F · SEC CIK 1817646
L1 Capital Pty Ltd
Hedge fundFiled 2026-08-13 for Q2 2026. Open the filing ↗ · All SEC filings ↗
- Reported 13F value
- $3.0B
- Reported positions
- 24
- Top holdings a year, 3 yrs
- +36.4%
- Average holding period
- 1.5 yrs
L1 Capital Pty Ltd is a hedge fund that reported 24 positions worth $3.0B in its Q2 2026 13F, filed 2026-08-13. Its largest holdings were Eldorado Gold Corp (EGO, 15.1%), Nexgen Energy Limited (canada) (NXE, 11.1%), Amcor PLC (AMCR, 9.8%). A portfolio copying its top holdings returned 36.4% a year over the last 3 years, against 20.4% for the S&P 500.
L1 Capital Pty Ltd holdings all 24 positions.
Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.
| Stock | % of 13F value | Share change | Reported value |
|---|---|---|---|
| EGOEldorado Gold Corp | 15.1% | +38.1% | $448.2M |
| NXENexgen Energy Limited (canada) | 11.1% | -0.6% | $328.7M |
| AMCRAmcor PLC | 9.8% | +52.5% | $290.9M |
| EQXEquinox Gold Corp | 8.8% | +11.2% | $263.0M |
| CGAUCenterra Gold Incorporated (canada) | 8.7% | +131.7% | $259.0M |
| TGBTrekor Metals Ltd | 8.0% | — | $238.7M |
| HBMHudbay Minerals Inc | 7.9% | — | $235.5M |
| BTGB2gold Corp | 6.1% | — | $182.7M |
| CRHCrh PLC | 4.5% | -31.7% | $135.3M |
| OCANFOceanagold Corporation Com New (canada) | 2.7% | — | $79.1M |
| AVRAnteris Technologies Global | 2.6% | +0.0% | $76.7M |
| AAAlcoa Corp Com | 2.5% | — | $74.9M |
| HDBHdfc Bank Ltd | 1.9% | +72.9% | $56.7M |
| NWSNews Corp New | 1.9% | -52.9% | $56.0M |
| BLDRBuilders Firstsource Inc | 1.8% | +105.2% | $53.7M |
| AYASFAya Gold & Silve | 1.3% | — | $39.3M |
| NUNu Hldgs Ltd | 1.2% | +23.7% | $35.2M |
| ISOUIsoEnergy Ltd (Pre-Reincorporation) | 0.9% | +11.8% | $27.7M |
| IAGIamgold Corp | 0.8% | +0.2% | $24.0M |
| FERGFerguson Enterprises Inc Common Stock Ne | 0.7% | — | $20.0M |
| ZZillow Group Inc | 0.5% | -60.7% | $15.7M |
| INTUIntuit | 0.4% | — | $13.0M |
| LARLithium Argentina AG | 0.4% | — | $11.3M |
| SGMLSigma Lithium Corp US | 0.3% | — | $9.7M |
What L1 Capital Pty Ltd bought and sold in Q2 2026, against Q1 2026.
New positions
- TGB Trekor Metals Ltd8.0% of 13F
- HBM Hudbay Minerals Inc7.9% of 13F
- BTG B2gold Corp6.1% of 13F
- OCANF Oceanagold Corporation Com New (canada)2.7% of 13F
- AA Alcoa Corp Com2.5% of 13F
- AYASF Aya Gold & Silve1.3% of 13F
- FERG Ferguson Enterprises Inc Common Stock Ne0.7% of 13F
- INTU Intuit0.4% of 13F
Added to
- CGAU Centerra Gold Incorporated (canada)+131.7% shares
- BLDR Builders Firstsource Inc+105.2% shares
- HDB Hdfc Bank Ltd+72.9% shares
- AMCR Amcor PLC+52.5% shares
- EGO Eldorado Gold Corp+38.1% shares
- NU Nu Hldgs Ltd+23.7% shares
- ISOU IsoEnergy Ltd (Pre-Reincorporation)+11.8% shares
- EQX Equinox Gold Corp+11.2% shares
Reduced
- Z Zillow Group Inc-60.7% shares
- NWS News Corp New-52.9% shares
- CRH Crh PLC-31.7% shares
Sold out
- Taseko Mines Ltd Comwas 8.9%
- FLUT Flutter Entmt PLCwas 7.1%
- Proshares Tr IIwas 1.7%
- EXP Eagle Matls Incwas 1.6%
- TECK Teck Resources Ltdwas 1.3%
- CUK Carnival Corpwas 0.7%
- NCLH Norwegian Cruise Line Hldgswas 0.7%
- SLSR Solaris Res Incwas 0.7%
Share counts compared with the Q1 2026 13F; a split also changes share counts.
How the holdings did against the S&P 500.
- 1 year
- +55.8% /yr
- S&P 500 +20.1%
- 3 years
- +36.4% /yr
- S&P 500 +20.4%
- 5 years
- +30.7% /yr
- S&P 500 +11.6%
A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.
Reported 13F value by quarter.
| Quarter | 13F value | Positions |
|---|---|---|
| Q2 2026 | $3.0B | 24 |
| Q1 2026 | $2.5B | 22 |
| Q4 2025 | $1.9B | 20 |
| Q3 2025 | $1.6B | 19 |
| Q2 2025 | $1.7B | 30 |
| Q1 2025 | $1.1B | 14 |
| Q4 2024 | $1.2B | 14 |
| Q3 2024 | $1.2B | 11 |
| Q2 2024 | $1.0B | 8 |
| Q1 2024 | $1.2B | 10 |
| Q4 2023 | $1.1B | 12 |
| Q3 2023 | $1.2B | 12 |
Questions about L1 Capital Pty Ltd's portfolio
What stocks does L1 Capital Pty Ltd own?
L1 Capital Pty Ltd's latest 13F, for Q2 2026 and filed Aug 13, 2026, lists 24 positions worth $3.0B. The largest are Eldorado Gold Corp (EGO) at 15.1%, Nexgen Energy Limited (canada) (NXE) at 11.1%, Amcor PLC (AMCR) at 9.8%, Equinox Gold Corp (EQX) at 8.8% and Centerra Gold Incorporated (canada) (CGAU) at 8.7%.
What did L1 Capital Pty Ltd buy last quarter?
In Q2 2026, L1 Capital Pty Ltd added a new position in Trekor Metals Ltd (TGB), a new position in Hudbay Minerals Inc (HBM), a new position in B2gold Corp (BTG), a new position in Oceanagold Corporation Com New (canada) (OCANF), a new position in Alcoa Corp Com (AA), Centerra Gold Incorporated (canada) (CGAU) (+131.7% shares), Builders Firstsource Inc (BLDR) (+105.2% shares) and Hdfc Bank Ltd (HDB) (+72.9% shares), compared with its Q1 2026 filing.
What did L1 Capital Pty Ltd sell last quarter?
In Q2 2026, L1 Capital Pty Ltd sold all of Taseko Mines Ltd Com, sold all of Flutter Entmt PLC (FLUT), sold all of Proshares Tr II, sold all of Eagle Matls Inc (EXP), sold all of Teck Resources Ltd (TECK), Zillow Group Inc (Z) (-60.7% shares), News Corp New (NWS) (-52.9% shares) and Crh PLC (CRH) (-31.7% shares), compared with its Q1 2026 filing.
How has L1 Capital Pty Ltd's portfolio performed?
A portfolio copying L1 Capital Pty Ltd's 20 largest 13F holdings each quarter, from the day each filing was public, returned +36.4% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +55.8% against +20.1%. Over 5 years: +30.7% a year against +11.6%.
When is L1 Capital Pty Ltd's next 13F filing due?
13F filings are due 45 days after each quarter ends. L1 Capital Pty Ltd's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.