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Funds (13F)

140 Summer Partners LP

Backtest from 19 Feb 2021 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+9.7%
S&P 500 +13.8%
Last 12 months
−12.0%
S&P 500 +12.1%
Sharpe ratio
0.39
S&P 500 0.68
Biggest drop
−24.6%
S&P 500 −23.9%
$10.0k$20.0k 202120222023202420252026 $20.9k$16.9k
140 Summer Partners LPS&P 500 $10,000 in 140 Summer Partners LP from 19 Feb 2021 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies 140 Summer Partners LP's quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

140 Summer Partners LP's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+9.7%+13.8%
Total return+69%+109%
Last 12 months−12.0%+12.1%
Last 3 months−12.9%—
Last month−4.2%—
This year so far−18.3%—
Volatility a year19.4%15.6%
Sharpe ratio0.390.68
Biggest drop−24.6%−23.9%
Beta to the S&P 5000.911.00
Alpha a year (t-statistic)−2.1% (−0.38)—
Share of weeks up53%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
VSAT16.6%——
MTZ9.2%——
KGS8.1%——
GLPI6.8%——
SGI6.4%——
VST6.1%——
VIK5.9%——
COF5.0%——
AER4.8%——
HBAN4.2%——
BTDR4.1%——
CIFR4.1%——
BKD3.9%——
TDS3.0%——
NVT2.9%——
PCG2.8%——
BOH2.6%——
AERO1.9%——
FLS1.8%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest19 Feb 2021 to 2 Nov 2026+9.7%+13.8%0.390.68−24.6%0.91−2.1% (−0.38)
Last three years3 Nov 2023 to 2 Nov 2026+10.6%+21.8%0.381.16−24.6%0.90−7.1% (−0.84)
Last year7 Nov 2025 to 2 Nov 2026−13.2%+14.2%−0.800.84−24.6%0.70−22.8% (−1.25)
DateCompanyAction
21 Aug 2026NVTBought
21 Aug 2026FLSBought
21 Aug 2026CIFRBought
15 May 2026VSATBought
15 May 2026PCGBought
15 May 2026KGSBought
15 May 2026HBANBought
15 May 2026BTDRBought
15 May 2026BOHBought
15 May 2026BKDBought
20 Feb 2026GLPIBought
20 Feb 2026ECHOBought
20 Feb 2026AEROBought
21 Nov 2025PNRBought
21 Nov 2025PFSIBought
21 Nov 2025OPTUBought
21 Nov 2025MTZBought
21 Nov 2025MASBought
21 Nov 2025JBTMBought
21 Nov 2025AYIBought
15 Aug 2025WALBought
15 Aug 2025ECHOBought
16 May 2025VSTBought
16 May 2025UNHBought
16 May 2025TDSBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026TMUSSold
21 Aug 2026OPTUSold
21 Aug 2026JBTMSold
21 Aug 2026ECHOSold
15 May 2026PNRSold
15 May 2026PFSISold
15 May 2026CRHSold
15 May 2026AYISold
20 Feb 2026PGRSold
20 Feb 2026MASSold
20 Feb 2026BOHSold
21 Nov 2025WALSold
21 Nov 2025ECHOSold
15 Aug 2025UNHSold
15 Aug 2025OPTUSold
15 Aug 2025OCSold
16 May 2025WALSold
16 May 2025TOLSold
16 May 2025NBISSold
16 May 2025ELVSold
16 May 2025DALSold
16 May 2025CZRSold
21 Feb 2025GMSold
21 Feb 2025ECHOSold
21 Feb 2025ALLYSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest