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Funds (13F)

Castleknight Management LP

Backtest from 18 Feb 2022 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+22.6%
S&P 500 +14.1%
Last 12 months
+32.1%
S&P 500 +12.1%
Sharpe ratio
0.77
S&P 500 0.63
Biggest drop
−29.0%
S&P 500 −20.5%
$10.0k$20.0k 20222023202420252026 $26.1k$18.6k
Castleknight Management LPS&P 500 $10,000 in Castleknight Management LP from 18 Feb 2022 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Castleknight 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.

Castleknight Management LP's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+22.6%+14.1%
Total return+161%+86%
Last 12 months+32.1%+12.1%
Last 3 months−3.0%—
Last month−6.4%—
This year so far+35.7%—
Volatility a year25.0%16.2%
Sharpe ratio0.770.63
Biggest drop−29.0%−20.5%
Beta to the S&P 5001.251.00
Alpha a year (t-statistic)+6.5% (0.95)—
Share of weeks up58%—

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
IREN2.1%——
CLS2.1%——
NVDA2.0%——
PBF2.0%——
CYH1.7%——
INSW1.7%——
BTDR1.7%——
NXPI1.6%——
AMZN1.6%——
GOOGL1.6%——
NAT1.6%——
CRWV1.5%——
KEEL1.4%——
HBM1.4%——
STRZ1.4%——
FRO1.3%——
ASIX1.2%——
META1.2%——
ZD1.2%——
AVGO1.2%——
FRMI1.2%——
TSM1.1%——
MSGS1.1%——
TEN1.1%——
LFTO1.1%——
MU1.0%——
TNK1.0%——
ADV1.0%——
TRMD1.0%——
TTAM1.0%——
ERO0.9%——
CVI0.9%——
ENR0.9%——
CG0.8%——
SIMO0.8%——
TLN0.8%——
INGM0.8%——
DXC0.8%——
AMCX0.7%——
SANM0.7%——
HELE0.7%——
ON0.6%——
LXU0.6%——
ARCB0.6%——
DINO0.6%——
WIX0.6%——
COF0.6%——
HUT0.6%——
NCLH0.6%——
CART0.6%——
ILPT0.6%——
PAHC0.6%——
KDP0.6%——
PTON0.5%——
NINE0.5%——
MOD0.5%——
NRG0.5%——
NFLX0.5%——
PRGO0.5%——
FSK0.5%——
THC0.5%——
CELH0.5%——
VSH0.5%——
DIN0.5%——
CRM0.4%——
MAT0.4%——
CMCO0.4%——
ARDT0.4%——
UHS0.4%——
MD0.4%——
PERI0.4%——
PRMB0.4%——
NWL0.4%——
FCX0.4%——
CVLG0.4%——
PENN0.4%——
CLF0.4%——
SHAZ0.4%——
LMB0.4%——
FSLR0.4%——
ZTS0.3%——
COTY0.3%——
UTZ0.3%——
FLO0.3%——
SPT0.3%——
CHTR0.3%——
PINS0.3%——
ASC0.3%——
AES0.3%——
STM0.3%——
CCC0.3%——
SIRI0.3%——
VTRS0.3%——
AVTR0.3%——
NUS0.3%——
DHC0.3%——
TNL0.3%——
MSFT0.3%——
UBER0.3%——
PLAY0.3%——
VNET0.3%——
CE0.3%——
VST0.3%——
WDAY0.3%——
ZETA0.3%——
FTAI0.3%——
STZ0.3%——
PFSI0.3%——
BLDR0.3%——
CORZ0.3%——
BV0.3%——
RLJ0.3%——
SON0.3%——
ARW0.2%——
MKC0.2%——
NX0.2%——
AVT0.2%——
ECVT0.2%——
RDDT0.2%——
SBH0.2%——
ROCK0.2%——
XYZ0.2%——
SNDK0.2%——
DT0.2%——
FNKO0.2%——
SMPL0.2%——
HAIN0.2%——
FOUR0.2%——
GDDY0.2%——
NOMD0.2%——
BIDU0.2%——
MRVL0.2%——
OC0.2%——
MHK0.2%——
DOLE0.2%——
HMY0.2%——
M0.2%——
PSFE0.2%——
CMP0.2%——
PDD0.2%——
APP0.2%——
WERN0.2%——
HPE0.2%——
PRKS0.2%——
ADBE0.2%——
PK0.2%——
TOST0.2%——
PACK0.2%——
PLTK0.2%——
HLMN0.2%——

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

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest18 Feb 2022 to 2 Nov 2026+22.6%+14.1%0.770.63−29.0%1.25+6.5% (0.95)
Last three years3 Nov 2023 to 2 Nov 2026+38.6%+21.8%1.351.16−29.0%1.35+9.0% (1.18)
Last year7 Nov 2025 to 2 Nov 2026+34.2%+14.2%1.340.84−8.9%1.26+14.7% (1.05)
DateCompanyAction
21 Aug 2026ZTSBought
21 Aug 2026ZMBought
21 Aug 2026XEBought
21 Aug 2026WIXBought
21 Aug 2026VSHBought
21 Aug 2026VLOBought
21 Aug 2026VACBought
21 Aug 2026VBought
21 Aug 2026UPLDBought
21 Aug 2026ULCCBought
21 Aug 2026TXNBought
21 Aug 2026TRSBought
21 Aug 2026TRIBought
21 Aug 2026TOLBought
21 Aug 2026SUJABought
21 Aug 2026STMBought
21 Aug 2026SPTBought
21 Aug 2026SMPLBought
21 Aug 2026SMCIBought
21 Aug 2026SKEBought
21 Aug 2026SHAZBought
21 Aug 2026SAPBought
21 Aug 2026RYZBought
21 Aug 2026QXOBought
21 Aug 2026PURRBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026ZSold
21 Aug 2026XBPSold
21 Aug 2026WYFISold
21 Aug 2026WTISold
21 Aug 2026WESTSold
21 Aug 2026SPOTSold
21 Aug 2026SNDSold
21 Aug 2026SMSold
21 Aug 2026SGSold
21 Aug 2026SAIASold
21 Aug 2026RXTSold
21 Aug 2026REPXSold
21 Aug 2026REISold
21 Aug 2026PUMPSold
21 Aug 2026PROPSold
21 Aug 2026PFLTSold
21 Aug 2026OPTUSold
21 Aug 2026NOGSold
21 Aug 2026MURSold
21 Aug 2026MTDRSold
21 Aug 2026MGMSold
21 Aug 2026LIONSold
21 Aug 2026KKRSold
21 Aug 2026INNSold
21 Aug 2026IESCSold

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