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Funds (13F)

King Street Capital Management, L.P.

Backtest from 15 Nov 2013 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+21.0%
S&P 500 +13.6%
Last 12 months
+15.7%
S&P 500 +12.1%
Sharpe ratio
0.65
S&P 500 0.75
Biggest drop
−55.5%
S&P 500 −31.8%
$10.0k$20.0k$40.0k$80.0k 2013201520172019202120232025 $119k$52.3k
StrategyS&P 500 $10,000 in King Street Capital Management, L.P. from 15 Nov 2013 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies King Street Capital Management, L.P.'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.

King Street Capital Management, L.P.'s 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+21.0%+13.6%
Total return+1087%+423%
Last 12 months+15.7%+12.1%
Last 3 months+41.3%—
Last month+54.0%—
This year so far+29.7%—
Volatility a year36.1%16.1%
Sharpe ratio0.650.75
Biggest drop−55.5%−31.8%
Beta to the S&P 5001.221.00
Alpha a year (t-statistic)+8.6% (1.02)—
Share of weeks up47%—

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
SGRY76.1%——
TLN13.5%——
VST7.0%——
OPTU3.4%——

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

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest15 Nov 2013 to 2 Nov 2026+21.0%+13.6%0.650.75−55.5%1.22+8.6% (1.02)
2018 onwards5 Jan 2018 to 2 Nov 2026+24.5%+13.9%0.650.66−55.5%1.33+12.1% (1.01)
Last three years3 Nov 2023 to 2 Nov 2026+51.2%+21.8%1.041.16−32.4%1.06+28.9% (1.18)
Last year7 Nov 2025 to 2 Nov 2026+19.2%+14.2%0.490.84−24.8%0.77+16.1% (0.33)
DateCompanyAction
22 May 2026VSTBought
22 May 2026VGBought
22 May 2026TLNBought
22 May 2026BXSLBought
20 Feb 2026RHBought
20 Feb 2026LPLABought
21 Nov 2025VNOBought
21 Nov 2025VLYBought
21 Nov 2025UWMCBought
21 Nov 2025UNITBought
21 Nov 2025SLGBought
21 Nov 2025OPTUBought
21 Nov 2025NLYBought
21 Nov 2025ALLYBought
21 Nov 2025AGNCBought
21 Feb 2025PCGBought
21 Feb 2025BABought
22 Nov 2024SGRYBought
22 Nov 2024OPTUBought
22 Nov 2024CBLBought
22 Nov 2024BLCOBought
22 Nov 2024AVAHBought
22 Nov 2024AMBPBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026VGSold
21 Aug 2026UWMCSold
21 Aug 2026UNITSold
21 Aug 2026BXSLSold
21 Aug 2026BASold
21 Aug 2026AGNCSold
22 May 2026RHSold
22 May 2026NLYSold
22 May 2026LPLASold
22 May 2026ALLYSold
20 Feb 2026VNOSold
20 Feb 2026VLYSold
20 Feb 2026SLGSold
20 Feb 2026AVAHSold
21 Nov 2025AMBPSold
15 Aug 2025PCGSold
15 Aug 2025OPTUSold
16 May 2025BLCOSold
21 Feb 2025CBLSold

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