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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 14, 2025 | L1 Capital Long Short Fund | 12.2% | - | AIR.PA, FTT.TO, HBM.TO, JD.L, LSF.AX, NKE, NXE.TO, QAN.AX, SGH.AX, STO.AX, VEA.AX | Australia, commodities, global, infrastructure, Long/Short, Mining, Trade Policy, value | Portfolio has exposure to copper through companies like Hudbay Minerals and added to copper exposure during April volatility. Declining grades at Chilean copper mines require more material movement, driving demand for mining equipment. Copper World project will increase Hudbay's copper production by more than 50%. | FTT.TO AIR FP QAN AU STO AU VEA AU HBM CN NXE CN FTT CN |
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| 2024 Q4 | Dec 31, 2024 | L1 Capital Long Short Fund | -7.9% | -7.9% | 000660.KS, CNU.AX, CRH, CVE, DEG.AX, DOW.AX, FLTR.L, FRA.DE, LSF.AX, LTMAQ, MEG.TO, NEM, NST.AX, NWG.L, QAN.AX, QBE.AX, RMV.L, TESCO.L, TSM, WGX.AX | Australia, cyclicals, Factor, gold, growth, Long/Short, Overvaluation, value | Fund maintains significant long positions in gold equities amid 26% gold price increase in 2024. Central bank demand driven by geopolitical tensions and de-dollarization trends. Gold offers hedge against U.S. fiscal concerns and inflation risks. Asian demand accelerating while Western ETF flows declining. | View | |
| 2024 Q3 | Sep 30, 2024 | L1 Capital Long Short Fund | 2.4% | 10.8% | BKR, CBA.AX, CNU.TO, CRH, CVE.TO, FLTR.L, FRA.DE, HAL, MEG.TO, MIN.AX, NWG.L, NXE.TO, OXY, QAN.AX, REA.AX, RMV.L, TSCO.L, WOR.AX, WOW.AX, XOM | Australia, Banking, energy, gold, Long/Short, Travel, United Kingdom, value | The fund continues to focus on quality, lower P/E stocks with strong cash flow generation and solid earnings growth outlooks. They see extreme crowding and overvaluation in domestic banks and several ASX20 stocks, while many cyclical stocks trade at both depressed P/E multiples and depressed earnings bases, providing opportunity for large, medium-term upside for patient investors. | View | |
| 2024 Q3 | Sep 30, 2024 | Hotchkis & Wiley Global Value Fund | 5.6% | 12.8% | 005930.KS, AC.PA, CVS, ELV, ERIC, FFIV, GOOGL, MDT, QAN.AX, SIE.DE, WDAY, WLN.PA, WPP | energy, financials, global, semiconductors, technology, Utilities, value | The fund focuses on identifying undervalued assets with durable balance sheets, sustainable returns on equity, stable free cash flow, and attractive valuations relative to expected earnings. The strategy centers on effective risk management and seeking better risk-adjusted returns. | GOOGL WLN.PA 005930.KS QAN.AX ERIC APA|C|FFIV|KHC|NOV|UNH |
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| 2024 Q2 | Jul 15, 2024 | L1 Capital Long Short Fund | 2.4% | 10.8% | 000660.KS, AAPL, AGL.AX, AMZN, CBA.AX, CRH, CVE.TO, GOOGL, HBM, MEG.TO, META, MIN.AX, MSFT, NEM, NVDA, NXE.TO, QAN.AX, TESCO.L, TSLA, TSM | AI, Australia, Banking, Copper, energy, gold, Long/Short, value | The fund is positioned in AI supply chain companies including Taiwan Semiconductor and SK Hynix. Meetings indicate companies are in early stages of AI investment with capital expenditure on AI computing hardware expected to increase from 5% to 14.5% of IT budgets over three years. The fund sees continued strong growth for key AI positions. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 13, 2026 | Fund Letters | Hotchkis & Wiley Global Value Fund | Qantas Airways Limited | Industrials | Airlines | Bull | ASX | Airlines, Australia, Aviation, capital return, cash flow, duopoly, Share Buybacks | View Pitch |
| Manager Name | Fund Name | Fund AUM | Invested Value | Portfolio Weight | Shares Owned | Shares Bought / Sold During Quarter | % Bought / Sold During Quarter | % of Shares Outstanding Owned |
|---|---|---|---|---|---|---|---|---|
| No investor data available. | ||||||||