L1 Capital International Strategy: Uber (UBER) is a ‘Battleground’ Company

L1 Capital, an investment management firm, released its “L1 Capital International Fund” (unhedged) fourth-quarter 2025 investor letter. A copy of the letter can be downloaded here. The Strategy focuses on investing in high-quality companies with favorable cashflow-based valuations. The letter highlighted the current investment environment, the Fund’s positioning, portfolio adjustments, and the quarterly (December) and yearly (2025) review. The firm considers valuation analysis essential for potential AI-focused investments; merely having conviction in AI isn’t enough to ensure a successful investment outcome. In general, 2025 was a strong year for all stock markets globally. The fund returned 2.2%, net of fees, compared to 2.5% for the benchmark (MSCI World Net Total Return Index in AUD). For the year, the fund returned 9.8% (net of fees) compared to 12.4% for the Index. In addition, you can check the Strategy’s top five holdings to know its best picks in 2025.

In its fourth-quarter 2025 investor letter, L1 Capital International Fund highlighted stocks such as Uber Technologies, Inc. (NYSE:UBER). Uber Technologies, Inc. (NYSE:UBER) is a multinational technology company that operates through mobility, delivery, and freight segments. On January 14, 2026, Uber Technologies, Inc. (NYSE:UBER) stock closed at $84.65 per share. One-month return of Uber Technologies, Inc. (NYSE:UBER) was 6.96%, and its shares gained 26.31% of their value over the last 52 weeks. With around 69.96 million shares outstanding, Uber Technologies, Inc. (NYSE:UBER) has a market capitalization of $177.47 billion.

L1 Capital International Fund stated the following regarding Uber Technologies, Inc. (NYSE:UBER) in its fourth quarter 2025 investor letter:

“Uber Technologies, Inc. (NYSE:UBER) is a ‘battleground’ company. Uber is clearly the leader in ridesharing and meal delivery networks in the U.S. and many markets globally today. Autonomous vehicles continue to gain traction, with Waymo (Alphabet), Telsa and Zoox (Amazon.com) at the forefront, and many other companies developing their own autonomous vehicle strategies. Uber is working with many of these companies and is well placed to maintain its central network role in a hybrid world of human-driven and autonomous vehicles. That said, we recognise the inherent uncertainties and view Uber as a higher-risk, higher-return investment opportunity. Accordingly, Uber remains a smaller position in the Portfolio and is not a top 10 holding.”

In another article, we covered Uber Technologies, Inc. (NYSE:UBER) and shared the list of best long term growth stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q4 2025 page for more investor letters from hedge funds and other leading investors.

READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.

Disclosure: None. This article is originally published at Insider Monkey.