Core Insights - L1 Capital International Fund focuses on investing in high-quality companies with favorable cashflow-based valuations, emphasizing the importance of valuation analysis for AI-focused investments [1] - The fund achieved a return of 2.2% in Q4 2025, underperforming the benchmark MSCI World Net Total Return Index, which returned 2.5% [1] - For the full year 2025, the fund returned 9.8%, compared to the benchmark's 12.4% [1] Company Focus: AerCap Holdings N.V. (NYSE:AER) - AerCap Holdings N.V. is engaged in leasing, financing, selling, and managing flight equipment, with a market capitalization of $25.48 billion [2] - The stock closed at $141.84 on January 14, 2026, with a one-month return of -1.02% and a 52-week gain of 48.04% [2] - The fund has slightly trimmed its investment in AerCap due to valuation and risk management reasons, despite it being the fund's largest position [3] Investment Sentiment - AerCap is not among the 30 most popular stocks among hedge funds, with 55 hedge fund portfolios holding the stock at the end of Q3 2025, down from 63 in the previous quarter [4] - While AerCap is recognized for its potential, the fund believes certain AI stocks present greater upside potential and lower downside risk [4]

Core Viewpoint - AerCap (AER) is positioned well to potentially beat earnings estimates in its upcoming quarterly report, supported by a strong history of exceeding expectations [1]. Earnings Performance - AerCap has a solid track record of surpassing earnings estimates, with an average surprise of 30.09% over the last two quarters [2]. - In the last reported quarter, AerCap achieved earnings of $4.97 per share, significantly exceeding the Zacks Consensus Estimate of $3.16 per share, resulting in a surprise of 57.28% [3]. - For the previous quarter, the company was expected to report earnings of $2.75 per share but delivered $2.83 per share, yielding a surprise of 2.91% [3]. Earnings Estimates and Predictions - Estimates for AerCap have been trending upward, influenced by its history of earnings surprises [6]. - The stock currently has a positive Zacks Earnings ESP (Expected Surprise Prediction) of +8.70%, indicating increased analyst optimism regarding its near-term earnings potential [9]. - The combination of a positive Earnings ESP and a Zacks Rank of 3 (Hold) suggests a high likelihood of another earnings beat, with historical data showing that this combination results in positive surprises nearly 70% of the time [7][9]. Upcoming Earnings Report - AerCap's next earnings report is anticipated to be released on February 6, 2026 [9].

Group 1 - Oakmark Fund's objective is to deliver capital appreciation by investing in diverse large-cap US companies, and in Q4 2025, it outperformed the S&P 500 Index with a return of 4.78% compared to the index's 2.66% [1] - AerCap Holdings N.V. is highlighted as a key stock, with a market capitalization of $25.727 billion, a one-month return of 2.36%, and a 52-week gain of 49.13% [2] - AerCap is recognized as the largest aircraft lessor globally, benefiting from secular growth in global travel demand, and possesses scale advantages that allow for a higher return on equity (ROE) than its peers [3] Group 2 - The management's opportunistic, returns-focused approach to growth is seen as a key driver of AerCap's performance, with shares purchased at a modest premium to book value or a single-digit price-to-earnings (P/E) multiple [3] - AerCap is not among the 30 Most Popular Stocks Among Hedge Funds, with 55 hedge fund portfolios holding its shares at the end of Q3, down from 63 in the previous quarter [4] - While AerCap is acknowledged for its investment potential, certain AI stocks are considered to offer greater upside potential and less downside risk [4]

Core Viewpoint - AerCap Holdings has signed purchase and leaseback agreements with Virgin Atlantic for six new Airbus A330-900 aircraft, with deliveries scheduled from Q2 2026 to Q4 2027 [1][2]. Group 1: AerCap Holdings - AerCap is a global leader in aviation leasing, serving approximately 300 customers worldwide with a comprehensive fleet solution [3]. - The company is listed on the New York Stock Exchange (AER) and is headquartered in Dublin, with offices in various global locations [3]. Group 2: Virgin Atlantic - Virgin Atlantic, founded by Sir Richard Branson in 1984, emphasizes innovation and customer service, and was voted Britain's only Global Five Star Airline by APEX for nine consecutive years [4]. - The airline operates a leading transatlantic network in partnership with Delta Air Lines, offering connections to over 200 cities globally [5]. - Virgin Atlantic has committed to achieving Net Zero by 2050 and operates one of the youngest and most fuel-efficient fleets, with an average aircraft age under seven years [6].

Core Viewpoint - AerCap Holdings N.V. has successfully priced an offering of senior notes totaling $1.75 billion, which includes $900 million of 4.125% Senior Notes due 2029 and $850 million of 4.750% Senior Notes due 2033, aimed at financing aircraft assets and repaying debt [1][2]. Group 1: Offering Details - The offering consists of two types of senior notes: $900 million of 4.125% Senior Notes due 2029 and $850 million of 4.750% Senior Notes due 2033 [1]. - The notes will be fully and unconditionally guaranteed on a senior unsecured basis by AerCap and certain subsidiaries [1]. Group 2: Use of Proceeds - The net proceeds from the notes will be utilized for general corporate purposes, including the acquisition, investment, financing, or refinancing of aircraft assets and repayment of existing indebtedness [2]. Group 3: Underwriters - The joint book-running managers for the underwritten public offering include J.P. Morgan, Wells Fargo Securities, Credit Agricole CIB, Goldman Sachs & Co. LLC, and RBC Capital Markets [2]. Group 4: Company Overview - AerCap is recognized as the global leader in aviation leasing, serving approximately 300 customers worldwide with a comprehensive range of fleet solutions [6]. - The company is listed on the New York Stock Exchange under the ticker AER and has a presence in multiple global locations including Dublin, Shannon, Memphis, Miami, Singapore, London, Dubai, Shanghai, and Amsterdam [6].

Core Viewpoint - AerCap Holdings N.V. will host a conference call and webcast on February 6, 2026, to discuss its fourth quarter 2025 financial results [1]. Group 1: Conference Call Details - The fourth quarter 2025 earnings press release will be released before the U.S. financial markets open on February 6, 2026, and will be available on AerCap's website [2]. - The conference call can be accessed by dialing specific numbers for U.S./Canada and international participants, with a reference code provided [3]. - A replay of the webcast will be archived on the "Investors" section of AerCap's website for one year [3]. Group 2: Company Overview - AerCap is a global leader in aviation leasing, serving approximately 300 customers worldwide with comprehensive fleet solutions [4]. - The company is listed on the New York Stock Exchange (AER) and is headquartered in Dublin, with offices in multiple global locations [4].

Core Insights - AerCap Holdings N.V. has reported significant business transactions for the full year and fourth quarter of 2025, highlighting its leadership in aviation leasing [1][5]. Full Year 2025 Transactions - The company signed 371 lease agreements, completed 145 purchases, and executed 189 sale transactions [5]. - Financing transactions amounted to approximately $13.2 billion [5]. - AerCap received cash insurance proceeds of about $1.5 billion, primarily from a judgment related to assets lost in Russia in 2022 [5]. - The company repurchased approximately 22.1 million shares at an average price of $109.92 per share, totaling around $2.4 billion [5]. Fourth Quarter 2025 Transactions - In the fourth quarter, AerCap signed 122 lease agreements, which included 22 widebody aircraft, 42 narrowbody aircraft, 36 engines, and 22 helicopters [5]. - The company completed 40 purchases for 30 aircraft, including various models from Airbus and Boeing, as well as 2 engines and 8 helicopters [5]. - A total of 78 sale transactions were completed for 62 aircraft and 14 engines, along with 2 helicopters [5]. - Financing transactions in the fourth quarter were approximately $8.5 billion [5]. - The company repurchased about 3.5 million shares at an average price of $127.63 per share, totaling approximately $444 million [5]. - A quarterly cash dividend of $0.27 per share was declared on ordinary shares [5]. Company Overview - AerCap is recognized as the global leader in aviation leasing, serving around 300 customers worldwide with a comprehensive range of fleet solutions [3]. - The company is listed on the New York Stock Exchange (AER) and has a global presence with offices in multiple major cities [3].

Company Overview - AerCap (AER) is valued at $27.2 billion and operates as an integrated global aviation company, specializing in aircraft and engine leasing, trading, and parts sales [1] - The company also provides aircraft management services and performs maintenance, repair, and overhaul services through certified repair stations [1] Technical Analysis - AerCap has shown strong technical momentum, with shares up 52% over the past year and a 100% "Buy" technical opinion from Barchart [6][7] - The stock recently traded at $145.22, reaching an all-time high of $146.55 on December 23 [4][7] - AER has a Weighted Alpha of +56.90 and a Relative Strength Index (RSI) of 70.48, indicating strong performance [7] - The stock gained 11.37% since the Trend Seeker signaled a new "Buy" on October 30 [2] Financial Performance - Revenue is expected to grow by 4.15% this year but is projected to decrease slightly by 0.24% next year [8] - Earnings are estimated to increase by 22.08% this year and an additional 0.55% next year [8] - AER has a trailing price-earnings ratio of 9.79x and a dividend yield of 0.74% [7][8] Market Sentiment - Wall Street remains bullish on AerCap, with multiple "Buy" ratings and long-term price targets reaching up to $290 [6]

Core Insights - AerCap Holdings N.V. has delivered the first of ten Airbus A321neo aircraft to Thai Airways International, with the remaining nine scheduled for delivery through 2028 [1][2] Company Overview - AerCap is a global leader in aviation leasing, serving approximately 300 customers worldwide and maintaining a strong order book in the industry [3] - The company is listed on the New York Stock Exchange (AER) and has a global presence with offices in multiple cities including Dublin, Singapore, and Shanghai [3] Thai Airways Overview - Thai Airways, established in 1960, operates from Suvarnabhumi Airport and connects 64 destinations across 30 countries [4] - The airline emphasizes responsibility and sustainability in its operations, aligning with its commitment to modernize its fleet [4]

Core Insights - AerCap Holdings is recognized as a highly profitable value stock, with Truist initiating coverage with a Buy rating and a price target of $159, emphasizing its dominant market position and stable operations [1] - The company is focused on shareholder returns, leading to consistent book value appreciation and gains from asset disposals, showcasing the effectiveness of its long-term strategy [1] Group 1: Business Developments - AerCap signed lease agreements for two new Airbus A321neo aircraft with My Freighter, marking a significant milestone as My Freighter becomes AerCap's first customer in Uzbekistan [2] - The delivery of these aircraft is scheduled for Q4 2027, supporting My Freighter's goal of establishing Tashkent as a strategic hub connecting Eastern and Western markets [2] - The addition of these fuel-efficient aircraft is aimed at expanding Centrum Air's international network, including new routes to Europe, aligning with AerCap's mission to support emerging markets [3] Group 2: Market Position - AerCap operates in leasing, financing, selling, and managing commercial flight equipment across the US, China, and internationally, highlighting its extensive market reach [4] - Truist's analysis underscores AerCap's strong market position and the potential for steady growth, reinforcing its attractiveness as an investment opportunity [1][3]