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Funds (13F)

59 North Capital Management, LP

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

Watch this strategy
Return a year
+12.8%
S&P 500 +13.8%
Last 12 months
+10.8%
S&P 500 +12.1%
Sharpe ratio
0.52
S&P 500 0.68
Biggest drop
−34.8%
S&P 500 −23.9%
$10.0k$20.0k 202120222023202420252026 $20.9k$19.8k
StrategyS&P 500 $10,000 in 59 North Capital Management, 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 59 North Capital Management, 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.

59 North Capital Management, LP's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+12.8%+13.8%
Total return+98%+109%
Last 12 months+10.8%+12.1%
Last 3 months+6.2%—
Last month+10.0%—
This year so far+9.3%—
Volatility a year20.0%15.6%
Sharpe ratio0.520.68
Biggest drop−34.8%−23.9%
Beta to the S&P 5000.951.00
Alpha a year (t-statistic)+0.4% (0.07)—
Share of weeks up57%—

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
DIS11.3%——
AER9.1%——
FERG8.5%——
KMI7.5%——
LPX7.4%——
NWSA7.4%——
CCL6.6%——
DTM6.5%——
GPC5.5%——
SITE5.3%——
VMC4.3%——
L4.2%——
CVX3.9%——
COF3.7%——
MLM2.8%——
FLS2.6%——
SUNB2.0%——
FLR1.5%——

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+12.8%+13.8%0.520.68−34.8%0.95+0.4% (0.07)
Last three years3 Nov 2023 to 2 Nov 2026+21.1%+21.8%0.931.16−23.0%0.83+2.8% (0.37)
Last year7 Nov 2025 to 2 Nov 2026+10.7%+14.2%0.560.84−8.5%0.23+4.6% (0.38)
DateCompanyAction
21 Aug 2026VMCBought
21 Aug 2026SUNBBought
21 Aug 2026MLMBought
21 Aug 2026FLSBought
21 Aug 2026FLRBought
21 Aug 2026COFBought
21 Aug 2026CCLBought
22 May 2026WYBought
22 May 2026NFGBought
22 May 2026LBought
22 May 2026GPCBought
22 May 2026DISBought
22 May 2026CVXBought
21 Nov 2025SITEBought
15 Aug 2025EXEBought
15 Aug 2025DTMBought
15 Aug 2025CORZBought
16 May 2025NCLHBought
16 May 2025KMIBought
15 Nov 2024WDCBought
15 Nov 2024NWSABought
15 Nov 2024LPXBought
15 Nov 2024LAMRBought
15 Nov 2024KNFBought
15 Nov 2024FUNBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026WYSold
21 Aug 2026NFGSold
21 Aug 2026LAMRSold
21 Aug 2026CEGSold
22 May 2026EXESold
21 Nov 2025NCLHSold
21 Nov 2025CORZSold
15 Aug 2025FUNSold
15 Aug 2025FLUTSold
16 May 2025WDCSold
16 May 2025AMHSold
21 Feb 2025KNFSold
21 Feb 2025AXTASold

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