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Disclosery

L1 Capital Pty Ltd

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

L1 Capital Pty Ltd reported $1,917,106,811 across 20 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-13. Its ten largest share positions make up 88.99% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001817646-26-000003

Period
2025-12-31
Reported value
$1.92B
Holdings
20
Top 10 weight
88.99%
New
8
Sold out
7

Stakes and trades reported after 2025-12-31

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
Zadded+1,722,369$118M
ICEnew+679,203$110M
EGOadded+2,512,168$90.2M
TGBadded+11,066,233$62.6M
EQXadded+2,768,141$38.9M

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
AAreduced-4,342,223-$231M
HBMexited-8,379,964-$134M
CHTRexited-289,544-$63.7M
DNNexited-14,007,218-$44.4M
CRHexited-356,888-$40.3M

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, Q4 2025

Share positions as resolved from 13F-HR 0001817646-26-000003, largest first. % of portfolio is the value over $1,917,106,812, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
EGOELDORADO GOLD CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 9,640,407 shares 9,640,407$346M18.06%+2,512,168Timeline
NXENEXGEN ENERGY LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 33,642,681 shares 33,642,681$309M16.13%+2,804,090Timeline
EQXEQUINOX GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 20,164,556 shares 20,164,556$283M14.77%+2,768,141Timeline
TGBTASEKO MINES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 35,545,632 shares 35,545,632$201M10.49%+11,066,233Timeline
NWSNEWS CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 3,387,548 shares; 2025Q4: 4,273,704 shares 4,273,704$127M6.61%+886,156Timeline
ZZILLOW GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 380,462 shares; 2025Q3: 6,944 shares; 2025Q4: 1,729,313 shares 1,729,313$118M6.15%+1,722,369Timeline
ICEINTERCONTINENTAL EXCHANGE INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 679,203 shares 679,203$110M5.74%newTimeline
CVECENOVUS ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 5,655,769 shares 5,655,769$95.7M4.99%-861,710Timeline
AAALCOA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,545,476 shares 1,545,476$82.1M4.28%-4,342,223Timeline
AAUCALLIED GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,476,184 shares 1,476,184$33.8M1.76%newTimeline
NUENUCOR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 5,081 shares; 2025Q3: 11,386 shares; 2025Q4: 203,632 shares 203,632$33.2M1.73%+192,246Timeline
FLUTFLUTTER ENTMT PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 531,748 shares; 2024Q4: 307,132 shares; 2025Q1: 494,603 shares; 2025Q2: 481,009 shares; 2025Q3: not reported; 2025Q4: 138,851 shares 138,851$29.9M1.56%newTimeline
SLSRSOLARIS RES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 3,229,384 shares 3,229,384$25.9M1.35%-1,700,239Timeline
EXPEAGLE MATLS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 3,585 shares; 2025Q3: not reported; 2025Q4: 120,143 shares 120,143$24.8M1.3%newTimeline
JDJD.COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 730,264 shares 730,264$21M1.09%newTimeline
IAGIAMGOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 94,310 shares; 2025Q3: 117,958 shares; 2025Q4: 1,252,077 shares 1,252,077$20.6M1.08%+1,134,119Timeline
HDBHDFC BANK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 503,481 shares 503,481$18.4M0.96%newTimeline
AMRZAMRIZE LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 305,255 shares 305,255$16.5M0.86%newTimeline
AVRANTERIS TECHNOLOGIES GLOBALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 2,812,000 shares 2,812,000$14M0.73%-4,026,1362026-10-06, Form 4: bought 272,695 shares on 2026-10-06 Timeline
ISOUISOENERGY LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 746,588 shares 746,588$6.79M0.35%newTimeline

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
HBMHUDBAY MINERALS INC8,379,964$134Mshares
CHTRCHARTER COMMUNICATIONS INC289,544$63.7Mshares
DNNDENISON MINES CORP14,007,218$44.4Mshares
CRHCRH PLC356,888$40.3Mshares
HCCWARRIOR MET COAL INC458,915$37.3Mshares
FCXFREEPORT MCMORAN INC25,475$1.01Mshares
AERAERCAP HOLDINGS NV6,272$834Kshares

How Q4 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 0001817646-26-000003 base2026-02-13acceptance time not in the bulk data set