L1 Long Short Fund Limited (LSF) Earnings Call Transcripts
L1 Long Short Fund Limited's Latest Earnings Call - June 12, 2026
In Q2 2026, L1 Long Short Fund Limited reported a strong performance with a year-to-date return of approximately 13%, significantly outperforming the ASX 200's 1.7%. The fund's strategy has been heavily influenced by geopolitical tensions, particularly the Iran conflict, and the surge in AI CapEx spending. Management highlighted a positive outlook for sectors such as copper and gold, while expressing caution regarding the Australian banking sector due to rising interest rates and economic uncertainty.
Reported metrics
| Metric | Value |
|---|---|
| Year-to-Date Return | 13% (beat) |
| Long Short Fund 1-Year Return | 55% (beat) |
| U.S. 10-Year Yield | 4.7% (neutral) |
| Brent Crude Price Increase | 50% (neutral) |
| Copper Demand Growth | Exponential (positive) |
| Gold Price Decline | 30% (negative) |
Guidance from management
Management remains cautiously optimistic, particularly in sectors like copper and gold, while expressing concerns about the Australian banking sector and inflationary pressures. No specific numerical guidance was provided for future earnings or returns.
What analysts pressed on
Analysts expressed concerns regarding the high valuations in the Australian banking sector and the potential for rising bad debts due to economic pressures. There is also apprehension about the sustainability of growth in sectors heavily reliant on consumer spending amid rising interest rates.
Main topics on the call
- Geopolitical Impact on Markets — Management noted that the ongoing conflict in Iran has led to significant volatility in oil prices, which spiked by 50% in early 2026. Mark Landau stated, "We think that reality will set in and they'll both be forced to ...
- AI CapEx Spending — The fund is focusing on sectors benefiting from AI CapEx, with management indicating that CapEx is set to exceed $1 trillion by 2027. Amar Naik mentioned, "We've chosen to play that in areas like energy, where there's ju...
- Performance of Long Short Fund — The Long Short Fund has delivered a year-to-date return of approximately 13%, outperforming the ASX 200 by a significant margin. Management emphasized their ability to protect nearly 90% of capital in down markets, showc...
- Caution on Australian Banks — Management expressed concerns about the Australian banking sector, citing high valuations and low earnings growth. Mark Landau noted, "We think there's downside risk to earnings persisting," indicating a cautious stance ...
Read the full L1 Long Short Fund Limited transcript (June 12, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About L1 Long Short Fund Limited
L1 Long Short Fund Limited (LSF) is a publicly listed company in the Capital Markets industry, within the Financials sector. It trades on ASX and is based in AU. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 44 calls on record spanning March 31, 2020 to June 12, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 44 L1 Long Short Fund Limited earnings call transcripts on record, spanning March 31, 2020 to June 12, 2026. Based on this history, L1 Long Short Fund Limited reports quarterly. The most recent call on file is dated June 12, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- LSF
- Exchange
- ASX
- Country
- AU
- Sector
- Financials
- Industry
- Capital Markets
- Calls on record
- 44
- First call
- March 31, 2020
- Most recent
- June 12, 2026
- Reporting cadence
- quarterly