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L1 Capital International’s Q3 2025 Investor Letter

L1 Capital, an investment management firm, released its “L1 Capital International Fund” (unhedged) third quarter 2025 investor letter. In the September quarter, a few sectors and a few companies dominated the market. The fund returned 2.6% in the September quarter compared to 6.1% for the benchmark (MSCI World Net Total Return Index in AUD). In addition, you can check the fund’s top 5 holdings to know its best picks in 2025.

A copy of L1 Capital International’s Q3 2025 investor letter can be downloaded here.