# L1 Capital International Pty Ltd

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 2009023. Source: https://holderbook.com/funds/2009023-l1-capital-international-pty-ltd/

- Reported value: $1.7B
- Positions: 21
- Weight of the ten largest: 70.1%
- Filed: 2026-08-13

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| AERCAP HOLDINGS NV | [AER](https://holderbook.com/stocks/AER/) | $189.7M | 1,301,426 | 11.1% | 10 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $170.0M | 713,270 | 10.0% | 11 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $125.4M | 626,510 | 7.3% | 4 |
| CRH PLC | [CRH](https://holderbook.com/stocks/CRH/) | $121.0M | 1,130,403 | 7.1% | 11 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $109.7M | 319,699 | 6.4% | 11 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $106.9M | 208,150 | 6.3% | 11 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $101.9M | 571,760 | 6.0% | 11 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $96.6M | 507,252 | 5.7% | 6 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $89.3M | 239,273 | 5.2% | 11 |
| JACOBS SOLUTIONS INC | [J](https://holderbook.com/stocks/J/) | $87.2M | 692,407 | 5.1% | 8 |
| INTERCONTINENTAL EXCHANGE IN | [ICE](https://holderbook.com/stocks/ICE/) | $87.2M | 707,925 | 5.1% | 11 |
| MARSH & MCLENNAN COS INC | [MRSH](https://holderbook.com/stocks/MRSH/) | $56.8M | 340,997 | 3.3% | 11 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $49.0M | 137,169 | 2.9% | 3 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $48.8M | 144,358 | 2.9% | 9 |
| HCA HEALTHCARE INC | [HCA](https://holderbook.com/stocks/HCA/) | $46.1M | 118,294 | 2.7% | 11 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $45.8M | 634,053 | 2.7% | 5 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $43.7M | 123,601 | 2.6% | 11 |
| APOLLO GLOBAL MGMT INC | [APO](https://holderbook.com/stocks/APO/) | $39.8M | 336,203 | 2.3% | 2 |
| INTUIT | [INTU](https://holderbook.com/stocks/INTU/) | $39.0M | 149,397 | 2.3% | 11 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $27.1M | 56,650 | 1.6% | 6 |
| TETRA TECH INC NEW | [TTEK](https://holderbook.com/stocks/TTEK/) | $26.7M | 925,433 | 1.6% | 2 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +2.4% | +14.8% | -12.4% | 100% |
| Q1 2026 | -13.2% | -4.6% | -8.6% | 100% |
| Q4 2025 | +3.1% | +2.4% | +0.7% | 100% |
| Q3 2025 | +4.1% | +7.8% | -3.7% | 95% |
| Q2 2025 | +9.1% | +10.5% | -1.3% | 100% |
| Q1 2025 | +0.1% | -4.6% | +4.7% | 100% |
| Q4 2024 | +0.3% | +2.1% | -1.8% | 101% |
| Q3 2024 | +8.6% | +5.4% | +3.2% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.7B | 21 |
| Q1 2026 | $1.7B | 23 |
| Q4 2025 | $1.9B | 21 |
| Q3 2025 | $479.1M | 19 |
| Q2 2025 | $407.5M | 19 |
| Q1 2025 | $363.4M | 19 |
| Q4 2024 | $325.5M | 18 |
| Q3 2024 | $312.6M | 19 |
| Q2 2024 | $249.8M | 19 |
| Q1 2024 | $224.8M | 20 |
| Q4 2023 | $190.7M | 19 |