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L1 Capital Pty Ltd

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13F filer, CIK 1817646, MELBOURNE VIC 3000, Australia

L1 Capital Pty Ltd reported $1,583,977,042 across 19 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 90.98% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001817646-25-000004

Period
2025-09-30
Reported value
$1.58B
Holdings
19
Top 10 weight
90.98%
New
4
Sold out
15

Stakes and trades reported after 2025-09-30

13D, 13G and Form 4 filings by this filer's group, dated after the 13F period, on securities the quarter does not hold as shares.

  • SGML SIGMA LITHIUM CORPORATION: 13G 11,522,140 shares, 10.24% of the class, 13G filed 2026-10-07, 0001817646-26-000030Timeline
    Accepted , ingested

Largest buys vs the previous quarter

SecurityShares changeApprox. value
NWSnew+3,387,548$103M
CHTRnew+289,544$63.7M
DNNadded+13,705,598$43.4M
AAadded+1,073,357$40.1M
TGBadded+3,797,792$16.7M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
FLUTexited-481,009-$136M
LYGexited-129,076,191-$136M
HCCreduced-1,522,130-$124M
HBMreduced-6,674,123-$107M
CRHreduced-938,672-$106M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001817646-25-000004, largest first. % of portfolio is the value over $1,583,977,042, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
NXENEXGEN ENERGY LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,727,281 shares; 2024Q4: 27,418,450 shares; 2025Q1: 30,644,505 shares; 2025Q2: 33,816,063 shares; 2025Q3: 30,838,591 shares 30,838,591$261M16.45%-2,977,472Timeline
AAALCOA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,727,044 shares; 2025Q2: 4,814,342 shares; 2025Q3: 5,887,699 shares 5,887,699$220M13.87%+1,073,357Timeline
EQXEQUINOX GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 5,137,709 shares; 2025Q1: 10,848,019 shares; 2025Q2: 23,908,865 shares; 2025Q3: 17,396,415 shares 17,396,415$204M12.86%-6,512,450Timeline
EGOELDORADO GOLD CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,002,312 shares; 2024Q4: 7,152,907 shares; 2025Q1: 8,774,080 shares; 2025Q2: 7,493,579 shares; 2025Q3: 7,128,239 shares 7,128,239$191M12.05%-365,340Timeline
HBMHUDBAY MINERALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 13,637,662 shares; 2024Q4: 10,012,606 shares; 2025Q1: 14,423,384 shares; 2025Q2: 15,054,087 shares; 2025Q3: 8,379,964 shares 8,379,964$134M8.46%-6,674,123Timeline
CVECENOVUS ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,415,698 shares; 2024Q4: 6,669,518 shares; 2025Q1: 8,214,366 shares; 2025Q2: 6,685,087 shares; 2025Q3: 6,517,479 shares 6,517,479$114M7.18%-167,608Timeline
TGBTASEKO MINES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 12,608,621 shares; 2025Q2: 20,681,607 shares; 2025Q3: 24,479,399 shares 24,479,399$108M6.8%+3,797,792Timeline
NWSNEWS CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 3,387,548 shares 3,387,548$103M6.48%newTimeline
CHTRCHARTER COMMUNICATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 289,544 shares 289,544$63.7M4.02%newTimeline
DNNDENISON MINES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 301,620 shares; 2025Q3: 14,007,218 shares 14,007,218$44.4M2.8%+13,705,598Timeline
CRHCRH PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,388,064 shares; 2024Q4: 868,375 shares; 2025Q1: 1,142,437 shares; 2025Q2: 1,295,560 shares; 2025Q3: 356,888 shares 356,888$40.3M2.55%-938,672Timeline
HCCWARRIOR MET COAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 718,309 shares; 2025Q2: 1,981,045 shares; 2025Q3: 458,915 shares 458,915$37.3M2.35%-1,522,130Timeline
SLSRSOLARIS RES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,905,517 shares; 2024Q4: 4,887,811 shares; 2025Q1: 4,929,623 shares; 2025Q2: 4,929,623 shares; 2025Q3: 4,929,623 shares 4,929,623$32.6M2.06%0Timeline
AVRANTERIS TECHNOLOGIES GLOBALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,788,683 shares; 2025Q1: 6,886,480 shares; 2025Q2: 2,812,000 shares; 2025Q3: 6,838,136 shares 6,838,136$27.2M1.72%+4,026,1362026-10-06, Form 4: bought 272,695 shares on 2026-10-06 Timeline
NUENUCOR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 5,081 shares; 2025Q3: 11,386 shares 11,386$1.64M0.1%+6,305Timeline
IAGIAMGOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 94,310 shares; 2025Q3: 117,958 shares 117,958$1.5M0.09%+23,648Timeline
FCXFREEPORT MCMORAN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 25,475 shares 25,475$1.01M0.06%newTimeline
AERAERCAP HOLDINGS NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 6,272 shares 6,272$834K0.05%newTimeline
ZZILLOW GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 380,462 shares; 2025Q3: 6,944 shares 6,944$507K0.03%-373,518Timeline

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
FLUTFLUTTER ENTMT PLC481,009$136Mshares
LYGLLOYDS BANKING GROUP PLC129,076,191$136Mshares
NWGNATWEST GROUP PLC10,382,579$72.9Mshares
RYAAYRYANAIR HOLDINGS PLC595,657$34.4Mshares
TSMTAIWAN SEMICONDUCTOR MANUFAC12,779$2.89Mshares
EXPEAGLE MATLS INC3,585$725Kshares
INGING GROEP N.V.23,832$523Kshares
DALDELTA AIR LINES INC10,544$519Kshares
UBERUBER TECHNOLOGIES INC2,792$260Kshares
AMZNAMAZON COM INC1,180$259Kshares
CRMSALESFORCE INC648$177Kshares
BSXBOSTON SCIENTIFIC CORP1,200$129Kshares
GOOGLALPHABET INC683$120Kshares
BABOEING CO400$83.8Kshares
XENEXENON PHARMACEUTICALS INC1,296$40.6Kshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001817646-25-000004 base2025-11-14acceptance time not in the bulk data set