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Funds (13F)

Governors Lane LP

Backtest from 19 Feb 2016 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+11.2%
S&P 500 +15.5%
Last 12 months
+7.2%
S&P 500 +12.1%
Sharpe ratio
0.43
S&P 500 0.80
Biggest drop
−72.0%
S&P 500 −31.8%
$5.0k$10.0k$20.0k$40.0k 201620182020202220242026 $46.9k$31.2k
Governors Lane LPS&P 500 $10,000 in Governors Lane LP from 19 Feb 2016 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Governors Lane 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.

Governors Lane LP's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+11.2%+15.5%
Total return+212%+369%
Last 12 months+7.2%+12.1%
Last 3 months+2.2%—
Last month+3.0%—
This year so far+2.6%—
Volatility a year29.9%16.7%
Sharpe ratio0.430.80
Biggest drop−72.0%−31.8%
Beta to the S&P 5001.431.00
Alpha a year (t-statistic)−6.4% (−1.15)—
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
NSC16.3%——
TXNM13.5%——
SHW5.8%——
RKT5.2%——
WDAY5.0%——
CRBG4.5%——
COF4.4%——
AES4.3%——
TSM3.9%——
RACE2.8%——
SGI2.6%——
AMZN2.6%——
META2.6%——
ASML2.5%——
OLED2.5%——
BEAG2.4%——
SVAQ2.2%——
KMB2.2%——
DKS2.0%——
DHR1.8%——
BZH1.3%——
NVDA1.3%——
AVGO1.3%——
ROKU1.2%——
SLAB1.2%——
NTWO0.8%——
UNF0.8%——
GSAT0.7%——
CZR0.6%——
QGEN0.6%——
RYAM0.5%——
TDS0.3%——
EBAY0.1%——
RVMD0.0%——

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 2016 to 2 Nov 2026+11.2%+15.5%0.430.80−72.0%1.43−6.4% (−1.15)
2018 onwards5 Jan 2018 to 2 Nov 2026+5.9%+13.9%0.260.66−72.0%1.43−8.8% (−1.37)
Last three years3 Nov 2023 to 2 Nov 2026+19.4%+21.8%0.901.16−22.9%1.00−1.7% (−0.37)
Last year7 Nov 2025 to 2 Nov 2026+8.7%+14.2%0.440.84−12.4%0.68−1.8% (−0.22)
DateCompanyAction
21 Aug 2026WDAYBought
21 Aug 2026SGIBought
21 Aug 2026RYAMBought
21 Aug 2026RVMDBought
21 Aug 2026ROKUBought
21 Aug 2026RKTBought
21 Aug 2026RACEBought
21 Aug 2026OLEDBought
21 Aug 2026NVDABought
21 Aug 2026GSATBought
21 Aug 2026EBAYBought
21 Aug 2026DHRBought
21 Aug 2026CZRBought
21 Aug 2026CRBGBought
21 Aug 2026BZHBought
21 Aug 2026AVGOBought
22 May 2026SVAQBought
22 May 2026SLABBought
22 May 2026SHWBought
22 May 2026QGENBought
22 May 2026PYPLBought
22 May 2026PVHBought
22 May 2026OVVBought
22 May 2026METABought
22 May 2026IPXGBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026PYPLSold
21 Aug 2026PVHSold
21 Aug 2026OVVSold
21 Aug 2026NKESold
21 Aug 2026IVZSold
21 Aug 2026IPXGSold
21 Aug 2026ECHOSold
21 Aug 2026CCXISold
21 Aug 2026ALLYSold
22 May 2026XYZSold
22 May 2026VTRSold
22 May 2026UWMCSold
22 May 2026SHOOSold
22 May 2026RKTSold
22 May 2026PLMKSold
22 May 2026NIQSold
22 May 2026KKRSold
22 May 2026FISSold
22 May 2026ESSSold
22 May 2026DAAQSold
22 May 2026CRBGSold
22 May 2026BLSold
22 May 2026BILLSold
22 May 2026BACSold
22 May 2026AMATSold

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