LC
L1 Capital International Pty Ltd — 13F Portfolio Breakdown & Top Holdings (Q2 2026)
L1 Capital International Pty LtdCIK: 0002009023
Momentum followerQuality / disciplined sizing
Total reported value
$1.7B
Reporting period: 2026-06-30 · Number of holdings: 21
L1 Capital International Pty Ltd disclosed 21 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $1.7B and a quarterly turnover rate of 23.6%.
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Personality snowflake
- Concentration
- 24.73
- Portfolio Stability
- 23.59
- Momentum
- 100
- Sector conviction
- 53.52
- Diversification
- 42
- Sizing Uniformity
- 94.4
L1 Capital International Pty Ltd's disclosed holdings carry a Herfindahl concentration index of 0.062 — mathematically equivalent to about 16 equally-sized positions, close to its 21 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.56), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 3.3 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd NVDA
+60.5% $57.3M
Sold out CDW
Sold out CRM
Trim MSFT
-29.2% -$35.9M
Trim INTU
-3.2% -$27.7M
Add GOOG
+133.5% $28.5M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AER | AerCap Holdings N.V. | Stock-Industrials | 11.11% | +0.11% | -3.24% | |
| 2 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 9.96% | +0.73% | -4.06% | |
| 3 | NVDA | Nvidia CORP | Stock-Tech | 7.34% | +3.28% | +60.47% | |
| 4 | CRH | CRH plc | Stock-Materials | 7.08% | -0.24% | -3.18% | |
| 5 | V | Visa Inc-class A Shares | Stock-Financials | 6.42% | +0.47% | -3.23% | |
| 6 | MA | Mastercard Inc - A | Stock-Financials | 6.26% | +0.23% | +2.87% | |
| 7 | BKNG | Booking Holdings Inc | Stock-Consumer Disc | 5.97% | +0.03% | +2317.39% | |
| 8 | DHR | Danaher CORP | Stock-Healthcare | 5.66% | +1.19% | +28.11% | |
| 9 | MSFT | Microsoft CORP | Stock-Tech | 5.23% | -2.23% | -29.21% | |
| 10 | J | Jacobs Solutions Inc | Stock-Industrials | 5.11% | -0.31% | -3.06% | |
| 11 | ICE | Intercontinental Exchange In | Stock-Financials | 5.10% | -0.68% | +14.79% | |
| 12 | MRSH | Marsh & Mclennan Cos | Stock-Financials | 3.33% | -0.32% | -3.36% | |
| 13 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.87% | +0.43% | -3.52% | |
| 14 | AXP | American Express Co | Stock-Financials | 2.86% | +0.58% | +14.21% | |
| 15 | HCA | Hca Healthcare Inc | Stock-Healthcare | 2.70% | +1.63% | +213.22% | |
| 16 | UBER | Uber Technologies Inc | Stock-Industrials | 2.68% | -0.13% | -3.41% | |
| 17 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 2.56% | +1.65% | +133.46% | |
| 18 | APO | Apollo Global Management Inc | Stock-Financials | 2.33% | +0.58% | +27.60% | |
| 19 | INTU | Intuit Inc | Stock-Tech | 2.28% | -1.70% | -3.22% | |
| 20 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 1.58% | +0.66% | +23.50% | |
| 21 | TTEK | Tetra Tech Inc | Stock-Industrials | 1.57% | -0.15% | -3.21% |
Portfolio Performance
Performance for Q3 2026
+9.6%
Performance Last 4 Quarters
+13.2%
- Stdev
- +12.8%
- Beta
- +0.77
- Alpha
- +0.4%
- Max Drawdown
- -6.9%
- Annualized Perf
- +14.6%
- Batting Avg vs S&P
- +40%
- Sortino
- +2.19
- Stutzer
- +0.33
- Treynor
- +0.19
- Sterling
- +0.93
- Calmar
- +2.14
- Information Ratio
- -0.42
- Tracking Error
- +9.3%
- Stdev Down
- +6.6%
- Winning Months %
- +60%
- Losing Months %
- +40%
- Best 12 Months
- +19.5%
- Worst 12 Months
- +4.3%
- Efficiency Ratio
- +0.44
- Sharpe
- +1.13
- Stdev Sectors
- +7.1%
- Skewness
- -0.02
- Kurtosis
- -0.79
- Upside Potential
- +3.9
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
L1 Capital International Pty Ltd's most significant position changes for 2026-06-30: Sold out: Cdw Corp/de (CDW); Sold out: Salesforce Inc (CRM); Add: Nvidia CORP (NVDA) — shares +60.47%; Trim: Microsoft CORP (MSFT) — shares -29.21%; Trim: Intuit Inc (INTU) — shares -3.22%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | +3.3% | +60.47% | Add |
| 2 | GOOG | Alphabet Inc-cl C | +1.7% | +133.46% | Add |
| 3 | HCA | Hca Healthcare Inc | +1.6% | +213.22% | Add |
| 4 | DHR | Danaher CORP | +1.2% | +28.11% | Add |
| 5 | AMZN | Amazon.com Inc | +0.7% | -4.06% | Trim |
| 6 | TSM | Taiwan Semiconductor-sp Adr | +0.7% | +23.50% | Add |
| 7 | AXP | American Express Co | +0.6% | +14.21% | Add |
| 8 | APO | Apollo Global Management Inc | +0.6% | +27.60% | Add |
| 9 | V | Visa Inc-class A Shares | +0.5% | -3.23% | Trim |
| 10 | GOOGL | Alphabet Inc-cl A | +0.4% | -3.52% | Trim |
| 11 | MA | Mastercard Inc - A | +0.2% | +2.87% | Add |
| 12 | AER | AerCap Holdings N.V. | +0.1% | -3.24% | Trim |
| 13 | BKNG | Booking Holdings Inc | 0% | +2317.39% | Add |
| 14 | UBER | Uber Technologies Inc | -0.1% | -3.41% | Trim |
| 15 | TTEK | Tetra Tech Inc | -0.2% | -3.21% | Trim |
| 16 | CRH | CRH plc | -0.2% | -3.18% | Trim |
| 17 | J | Jacobs Solutions Inc | -0.3% | -3.06% | Trim |
| 18 | MRSH | Marsh & Mclennan Cos | -0.3% | -3.36% | Trim |
| 19 | ICE | Intercontinental Exchange In | -0.7% | +14.79% | Add |
| 20 | INTU | Intuit Inc | -1.7% | -3.22% | Trim |
| 21 | MSFT | Microsoft CORP | -2.2% | -29.21% | Trim |
| 22 | CRM | Salesforce Inc | -2.9% | EXIT | Sold out |
| 23 | CDW | Cdw Corp/de | -3% | EXIT | Sold out |
Filing History
FAQ
What is L1 Capital International Pty Ltd and what type of investor is it?
L1 Capital International Pty Ltd is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $1.7B, spread across 21 disclosed positions.
What are L1 Capital International Pty Ltd's largest equity positions?
Based on the latest 13F filing, L1 Capital International Pty Ltd's top holdings by market value are:
1. AerCap Holdings N.V. (AER) — $189.7M (11.1%)
2. Amazon.com Inc (AMZN) — $170.0M (10.0%)
3. Nvidia CORP (NVDA) — $125.4M (7.3%)
4. CRH plc (CRH) — $121.0M (7.1%)
5. Visa Inc-class A Shares (V) — $109.7M (6.4%)
What changes did L1 Capital International Pty Ltd make in its most recent portfolio filing?
In the latest reported quarter, L1 Capital International Pty Ltd made 23 notable position adjustments: 0 new positions were initiated, 10 existing holdings were added to, 11 positions were partially reduced, and 2 were completely exited. The largest of these moves: Sold out: Cdw Corp/de (CDW); Sold out: Salesforce Inc (CRM); Add: Nvidia CORP (NVDA) — shares +60.47%; Trim: Microsoft CORP (MSFT) — shares -29.21%; Trim: Intuit Inc (INTU) — shares -3.22%
What sectors does L1 Capital International Pty Ltd focus on?
L1 Capital International Pty Ltd is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 26.3%
• Industrials: 20.5%
• Information Technology: 16.4%
• Consumer Discretionary: 15.9%
• Health Care: 8.4%
• Materials: 7.1%
Investment Profile
L1 Capital International Pty Ltd returned an annualized 14.6% over the trailing 30 months — outperforming the S&P 500 by 0.4 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.77 (less volatile than the market) and a 40% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active.
Its turnover score has risen from 0 to 24 over the past 4 quarters — a shift toward more active trading.
It has added to its TSM position over the past two quarters (+$13.9M, now $27.1M), while trimming MSFT over the same stretch (-$76.3M, still holding $89.3M).
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