L1 Capital Pty Ltd 13F: Quarter-over-Quarter Portfolio Changes
L1 Capital Pty Ltd reported a disclosed portfolio value of approximately $2.5 billion in its latest SEC Form 13F-HR filing for Q1 2026, up 32.8% quarter on quarter. Over the quarter, the fund initiated 9 new positions, bought more shares in 9 holdings, trimmed 4 holdings, and exited 7 positions.
L1 Capital Pty Ltd's top buy was a new stake in Crh PLC (CRH) , equal to 7.6% of the disclosed portfolio. Its top sell was Intercontinental Exchange in (ICE) . The fund exited the position completely after it had accounted for 5.7% of the previous portfolio.
New PositionsQ1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| CRH PLC | CRH | 7.6% | History → |
| AMCOR PLC | AMCR | 6.9% | History → |
| CENTERRA GOLD INC | CGAU | 4.9% | History → |
| PROSHARES TR II | SCOUSD | 1.7% | Holders → |
| TECK RESOURCES LTD | TECK | 1.3% | Holders → |
| NU HOLDINGS LTD | NU | 1.2% | Holders → |
| BUILDERS FIRSTSOURCE INC | BLDR | 0.9% | Holders → |
| CARNIVAL CORP | CCL | 0.7% | Holders → |
| NORWEGIAN CRUISE LINE HLDGS | NCLH | 0.7% | Holders → |
Top BuysQ1 2026
The fund's top buys among existing positions in Q1 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| FLUTTER ENTMT PLC | FLUT | +5.5% | +1174.2% | History → |
| ISOENERGY LTD | ISOU | +0.7% | +232.9% | Holders → |
| ANTERIS TECHNOLOGIES GLOBAL | AVR | +1.0% | +177.0% | Holders → |
| HDFC BANK-ADR | HDB | +0.3% | +152.0% | Holders → |
| EAGLE MATERIALS INC | EXP | +0.3% | +78.6% | Holders → |
| EQUINOX GOLD CORP | EQX | +-1.0% | +20.7% | History → |
| IAMGOLD CORP | IAG | +0.0% | +20.6% | Holders → |
| ELDORADO GOLD CORP NEW | EGO | +-4.0% | +8.3% | History → |
| NEXGEN ENERGY LTD | NXE | +-0.1% | +4.7% | History → |
Top SellsQ1 2026
The fund's top sells among positions it retained in Q1 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| SOLARIS RES INC | SLSR | -0.7% | 39.1% | Holders → |
| ZILLOW GROUP INC | Z | -4.1% | 26.6% | History → |
| TASEKO MINES LTD | TGB | -1.6% | 1.2% | History → |
| NEWS CORP NEW | NWS | -1.9% | 0.9% | History → |
Full ExitsQ1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| INTERCONTINENTAL EXCHANGE IN | ICE | 5.7% |
| CENOVUS ENERGY INC | CVE | 5.0% |
| ALCOA CORP | AA | 4.3% |
| ALLIED GOLD CORP | AAUC | 1.8% |
| NUCOR CORP | NUE | 1.7% |
| JD.COM INC-ADR | JD | 1.1% |
| AMRIZE LTD | AMRZ | 0.9% |
Net Portfolio Value ChangeQ1 2026
- $1.9BPrior quarter
- $2.5BCurrent quarter
- +$0.6BNet delta
- +32.8%% change
Methodology & FAQ
How L1 Capital Pty Ltd Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for L1 Capital Pty Ltd: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description — including how confidential treatment filings are handled — is documented in the Methodology.
What stocks did L1 Capital Pty Ltd buy in Q1 2026?
In Q1 2026, L1 Capital Pty Ltd initiated 9 new positions (CRH PLC (CRH), AMCOR PLC (AMCR), CENTERRA GOLD INC (CGAU), PROSHARES TR II (SCOUSD), TECK RESOURCES LTD (TECK), NU HOLDINGS LTD (NU), BUILDERS FIRSTSOURCE INC (BLDR), CARNIVAL CORP (CCL), NORWEGIAN CRUISE LINE HLDGS (NCLH)); bought more shares of FLUTTER ENTMT PLC (FLUT), ISOENERGY LTD (ISOU), ANTERIS TECHNOLOGIES GLOBAL (AVR), HDFC BANK-ADR (HDB), EAGLE MATERIALS INC (EXP) — the largest 5 of 9 adds.
What stocks did L1 Capital Pty Ltd sell in Q1 2026?
In Q1 2026, L1 Capital Pty Ltd fully sold 7 positions (INTERCONTINENTAL EXCHANGE IN (ICE), CENOVUS ENERGY INC (CVE), ALCOA CORP (AA), ALLIED GOLD CORP (AAUC), NUCOR CORP (NUE), JD.COM INC-ADR (JD), AMRIZE LTD (AMRZ)); reduced holdings in SOLARIS RES INC (SLSR), ZILLOW GROUP INC (Z), TASEKO MINES LTD (TGB), NEWS CORP NEW (NWS).
Which positions did L1 Capital Pty Ltd initiate in Q1 2026?
L1 Capital Pty Ltd established 9 new positions in Q1 2026: CRH PLC (CRH, 7.6%), AMCOR PLC (AMCR, 6.9%), CENTERRA GOLD INC (CGAU, 4.9%), PROSHARES TR II (SCOUSD, 1.7%), TECK RESOURCES LTD (TECK, 1.3%), NU HOLDINGS LTD (NU, 1.2%), BUILDERS FIRSTSOURCE INC (BLDR, 0.9%), CARNIVAL CORP (CCL, 0.7%), NORWEGIAN CRUISE LINE HLDGS (NCLH, 0.7%).
Which existing positions saw the largest allocation increases for L1 Capital Pty Ltd in Q1 2026?
Of 9 existing positions with share-count increases in Q1 2026, the largest were: FLUTTER ENTMT PLC (FLUT, +5.5% weight, +1174.2% shares), ISOENERGY LTD (ISOU, +0.7% weight, +232.9% shares), ANTERIS TECHNOLOGIES GLOBAL (AVR, +1.0% weight, +177.0% shares), HDFC BANK-ADR (HDB, +0.3% weight, +152.0% shares), EAGLE MATERIALS INC (EXP, +0.3% weight, +78.6% shares), EQUINOX GOLD CORP (EQX, +-1.0% weight, +20.7% shares), IAMGOLD CORP (IAG, +0.0% weight, +20.6% shares), ELDORADO GOLD CORP NEW (EGO, +-4.0% weight, +8.3% shares), NEXGEN ENERGY LTD (NXE, +-0.1% weight, +4.7% shares).
Which positions did L1 Capital Pty Ltd fully exit in Q1 2026?
L1 Capital Pty Ltd fully exited 7 positions in Q1 2026: INTERCONTINENTAL EXCHANGE IN (ICE, last-reported weight 5.7%), CENOVUS ENERGY INC (CVE, last-reported weight 5.0%), ALCOA CORP (AA, last-reported weight 4.3%), ALLIED GOLD CORP (AAUC, last-reported weight 1.8%), NUCOR CORP (NUE, last-reported weight 1.7%), JD.COM INC-ADR (JD, last-reported weight 1.1%), AMRIZE LTD (AMRZ, last-reported weight 0.9%).
Which existing positions saw the largest allocation reductions for L1 Capital Pty Ltd in Q1 2026?
Of 4 existing positions with share-count reductions in Q1 2026, the largest were: SOLARIS RES INC (SLSR, -0.7% weight, -39.1% shares), ZILLOW GROUP INC (Z, -4.1% weight, -26.6% shares), TASEKO MINES LTD (TGB, -1.6% weight, -1.2% shares), NEWS CORP NEW (NWS, -1.9% weight, -0.9% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.