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Funds (13F)

Ghisallo Capital Management LLC

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

Watch this strategy
Return a year
−2.7%
S&P 500 +13.8%
Last 12 months
−8.6%
S&P 500 +12.1%
Sharpe ratio
−0.11
S&P 500 0.68
Biggest drop
−53.4%
S&P 500 −23.9%
$5.0k$10.0k$20.0k 202120222023202420252026 $20.9k$8.6k
StrategyS&P 500 $10,000 in Ghisallo Capital Management LLC 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 Ghisallo Capital Management LLC'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.

Ghisallo Capital Management LLC's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)−2.7%+13.8%
Total return−14%+109%
Last 12 months−8.6%+12.1%
Last 3 months−11.0%—
Last month−12.8%—
This year so far−6.7%—
Volatility a year25.7%15.6%
Sharpe ratio−0.110.68
Biggest drop−53.4%−23.9%
Beta to the S&P 5001.261.00
Alpha a year (t-statistic)−16.3% (−2.33)—
Share of weeks up50%—

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
SPCX26.9%——
DLR6.0%——
GOOGL4.0%——
SMCI3.6%——
MDLN3.3%——
NBIS3.1%——
XPEV2.8%——
AUR2.3%——
AEP1.9%——
FPS1.8%——
DLTR1.7%——
CBRS1.7%——
JCI1.6%——
ORCL1.4%——
BIDU1.3%——
FANG1.2%——
LGN1.2%——
VSH1.1%——
INIO1.1%——
TT1.0%——
JAN0.9%——
MAIR0.9%——
MLYS0.8%——
LEGN0.8%——
ULS0.7%——
ARXS0.6%——
ETR0.6%——
GDS0.6%——
AHR0.6%——
AS0.6%——
NTLA0.6%——
MIAX0.5%——
SARO0.5%——
NIO0.5%——
GEV0.5%——
QXO0.5%——
SXT0.5%——
MWH0.5%——
MAC0.5%——
QNT0.5%——
ALH0.4%——
CDNL0.4%——
DOCN0.4%——
KGS0.4%——
DPC0.4%——
FLY0.4%——
FRVO0.4%——
CYTK0.4%——
HTZ0.4%——
TBBB0.4%——
ROL0.3%——
WULF0.3%——
VSEC0.3%——
NSC0.3%——
USAR0.3%——
PONY0.3%——
INGM0.3%——
ALOY0.3%——
NTWO0.3%——
KRMN0.3%——
KTOS0.3%——
CRWV0.3%——
CAVA0.3%——
NOVT0.3%——
PTRN0.3%——
RVMD0.3%——
VNOM0.2%——
BKV0.2%——
AVEX0.2%——
LOAR0.2%——
LB0.2%——
ANDG0.2%——
XE0.2%——
AVAH0.2%——
TTAN0.2%——
EQPT0.2%——
WBI0.2%——
GLXY0.2%——
AMBQ0.2%——
ALLO0.2%——
AAMI0.2%——
ABVX0.2%——
LCLN0.2%——
NHP0.2%——
KOD0.2%——
EROC0.2%——
CELC0.2%——
MP0.2%——
HAWK0.1%——
SRRK0.1%——
VERA0.1%——
AADX0.1%——
SMMT0.1%——
RARE0.1%——
EYPT0.1%——
CURB0.1%——
YSS0.1%——
ARWR0.1%——
KPTI0.1%——
ORKA0.1%——
BOBS0.1%——
TNGX0.1%——
QURE0.1%——
FWDI0.1%——
ALMR0.1%——
ELMT0.1%——
POR0.1%——
CTRI0.1%——
LFTO0.1%——
VELO0.1%——
TSHA0.1%——
TBN0.1%——
GMRS0.1%——
FIGR0.1%——
YSWY0.1%——
CBC0.1%——
MMED0.1%——
FTW0.1%——
KDK0.1%——
ALMS0.1%——
MGTX0.1%——
AERO0.1%——
SYRE0.1%——
DNLI0.1%——
HMH0.1%——
EROK0.1%——
AVLN0.1%——
ALT0.1%——
NKTR0.1%——
LINE0.1%——
GRDN0.1%——
WHK0.1%——
NGEN0.1%——
WAY0.1%——
OFRM0.1%——
SSAC0.1%——
DFTX0.1%——
MLTX0.1%——
SLDE0.1%——
KMTS0.1%——
IDYA0.1%——
FIG0.1%——
CAI0.1%——
BETA0.1%——
MOBI0.1%——
PRAX0.1%——
KLRA0.1%——
VOYG0.0%——
COAG0.0%——
HTFL0.0%——

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 2026−2.7%+13.8%−0.110.68−53.4%1.26−16.3% (−2.33)
Last three years3 Nov 2023 to 2 Nov 2026+12.9%+21.8%0.471.16−21.2%1.16−8.9% (−1.13)
Last year7 Nov 2025 to 2 Nov 2026−5.7%+14.2%−0.290.84−21.2%1.48−21.5% (−1.32)
DateCompanyAction
21 Aug 2026YSWYBought
21 Aug 2026XEBought
21 Aug 2026WULFBought
21 Aug 2026WHKBought
21 Aug 2026VSHBought
21 Aug 2026VRDNBought
21 Aug 2026VERABought
21 Aug 2026VELOBought
21 Aug 2026TSHABought
21 Aug 2026TRVIBought
21 Aug 2026TNGXBought
21 Aug 2026TBNBought
21 Aug 2026SYREBought
21 Aug 2026SXTBought
21 Aug 2026SUJABought
21 Aug 2026SSACBought
21 Aug 2026SRRKBought
21 Aug 2026SPTXBought
21 Aug 2026SPCXBought
21 Aug 2026SMMTBought
21 Aug 2026SMCIBought
21 Aug 2026SINDBought
21 Aug 2026SENSBought
21 Aug 2026SBMTBought
21 Aug 2026RVMDBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026ZURASold
21 Aug 2026ZONESold
21 Aug 2026ZMSold
21 Aug 2026XLOSold
21 Aug 2026WHRSold
21 Aug 2026VNETSold
21 Aug 2026VIPSSold
21 Aug 2026VICISold
21 Aug 2026TSLASold
21 Aug 2026TLSISold
21 Aug 2026SYMSold
21 Aug 2026SPAISold
21 Aug 2026SMASold
21 Aug 2026RZLVSold
21 Aug 2026ROIVSold
21 Aug 2026RDDTSold
21 Aug 2026PXEDSold
21 Aug 2026PPHCSold
21 Aug 2026PCVXSold
21 Aug 2026OMDASold
21 Aug 2026OKLOSold
21 Aug 2026NVGSSold
21 Aug 2026NVDASold
21 Aug 2026NAVNSold
21 Aug 2026MSFTSold

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