L1 Capital Pty Ltd 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
L1 Capital Pty Ltd disclosed 20 US equity positions worth $1.9bn in its Q4 2025 13F filing. The largest position was EGO at 18.1% of the reported book, followed by NXE and EQX. Against the Q3 2025 filing, it opened 8 new positions, added to 8 and reduced 4 among the top 20 holdings.
What did L1 Capital Pty Ltd own in Q4 2025? Top 20 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | EGO ELDORADO GOLD CORP NEW | Basic Materials | 18.1% | $346.3m | 9,640,407 | 35% | added |
| 2 | NXE NEXGEN ENERGY LTD | Energy | 16.1% | $309.1m | 33,642,681 | 9% | added |
| 3 | EQX EQUINOX GOLD CORP | Basic Materials | 14.8% | $283.1m | 20,164,556 | 16% | added |
| 4 | TKOEUR TASEKO MINES LTD | 10.5% | $201.2m | 35,545,632 | 45% | added | |
| 5 | NWS NEWS CORP NEW | Communication Services | 6.6% | $126.6m | 4,273,704 | 26% | added |
| 6 | Z ZILLOW GROUP INC | Communication Services | 6.2% | $118.0m | 1,729,313 | 24804% | added |
| 7 | ICE INTERCONTINENTAL EXCHANGE IN | Financial Services | 5.7% | $110.0m | 679,203 | – | new |
| 8 | CVE CENOVUS ENERGY INC | Energy | 5.0% | $95.7m | 5,655,769 | -13% | reduced |
| 9 | AA ALCOA CORP | Basic Materials | 4.3% | $82.1m | 1,545,476 | -74% | reduced |
| 10 | AAUC ALLIED GOLD CORP | 1.8% | $33.8m | 1,476,184 | – | new | |
| 11 | NUE NUCOR CORP | Basic Materials | 1.7% | $33.2m | 203,632 | 1688% | added |
| 12 | FLUTTER ENTMT PLC | 1.6% | $29.9m | 138,851 | – | new | |
| 13 | SLSR SOLARIS RES INC | 1.4% | $25.9m | 3,229,384 | -34% | reduced | |
| 14 | EXP EAGLE MATLS INC | Basic Materials | 1.3% | $24.8m | 120,143 | – | new |
| 15 | JD JD.COM INC | Consumer Cyclical | 1.1% | $21.0m | 730,264 | – | new |
| 16 | IAG IAMGOLD CORP | Basic Materials | 1.1% | $20.6m | 1,252,077 | 961% | added |
| 17 | HDB HDFC BANK LTD | Financial Services | 1.0% | $18.4m | 503,481 | – | new |
| 18 | AMRZ AMRIZE LTD | Basic Materials | 0.9% | $16.5m | 305,255 | – | new |
| 19 | AVR ANTERIS TECHNOLOGIES GLOBAL | 0.7% | $14.0m | 2,812,000 | -59% | reduced | |
| 20 | ISOENERGY LTD | 0.4% | $6.8m | 746,588 | – | new |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.