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-foc ...