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Funds (13F)

Kynam Capital Management, LP

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

Watch this strategy
Return a year
+24.6%
S&P 500 +14.1%
Last 12 months
+24.8%
S&P 500 +12.1%
Sharpe ratio
0.67
S&P 500 0.63
Biggest drop
−38.6%
S&P 500 −20.5%
$10.0k$20.0k 20222023202420252026 $28.2k$18.6k
Kynam Capital Management, LPS&P 500 $10,000 in Kynam Capital 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 Kynam 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.

Kynam Capital Management, LP's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+24.6%+14.1%
Total return+182%+86%
Last 12 months+24.8%+12.1%
Last 3 months−11.0%—
Last month−4.5%—
This year so far−7.1%—
Volatility a year36.0%16.2%
Sharpe ratio0.670.63
Biggest drop−38.6%−20.5%
Beta to the S&P 5001.061.00
Alpha a year (t-statistic)+13.4% (0.92)—
Share of weeks up53%—

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
CLDX10.9%——
SNDX9.7%——
PCVX9.4%——
COGT7.8%——
VERA6.8%——
VRDN6.5%——
TVTX6.3%——
BEAM5.4%——
URGN5.0%——
LEGN4.8%——
CTMX4.5%——
RLAY3.4%——
CGEM3.1%——
MBX2.9%——
IMCR2.4%——
NRIX1.6%——
STRO1.6%——
BCRX1.4%——
PHVS1.3%——
SMMT1.0%——
PRLD0.7%——
INSM0.6%——
BNR0.6%——
GERN0.5%——
AMRN0.5%——
ALEC0.4%——
PBLS0.4%——
CRBU0.2%——
PRQR0.2%——
CADL0.1%——
ENGN0.0%——
TRAW0.0%——

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+24.6%+14.1%0.670.63−38.6%1.06+13.4% (0.92)
Last three years3 Nov 2023 to 2 Nov 2026+42.1%+21.8%1.041.16−38.6%1.27+16.5% (0.91)
Last year7 Nov 2025 to 2 Nov 2026+33.5%+14.2%0.860.84−23.7%0.96+21.2% (0.62)
DateCompanyAction
21 Aug 2026TRAWBought
21 Aug 2026SMMTBought
21 Aug 2026PBLSBought
21 Aug 2026INSMBought
21 Aug 2026ENGNBought
22 May 2026URGNBought
22 May 2026LEGNBought
22 May 2026CADLBought
20 Feb 2026STROBought
20 Feb 2026PRLDBought
20 Feb 2026EVMNBought
20 Feb 2026BHVNBought
20 Feb 2026ALECBought
21 Nov 2025UTHRBought
21 Nov 2025PHVSBought
21 Nov 2025MBXBought
15 Aug 2025EWTXBought
15 Aug 2025CTMXBought
15 Aug 2025AMRNBought
16 May 2025URGNBought
16 May 2025NRIXBought
16 May 2025LEGNBought
16 May 2025GERNBought
16 May 2025DSGNBought
21 Feb 2025RLAYBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026EVMNSold
21 Aug 2026DSGNSold
21 Aug 2026CLYMSold
21 Aug 2026BHVNSold
22 May 2026TYRASold
22 May 2026CGONSold
20 Feb 2026UTHRSold
20 Feb 2026URGNSold
20 Feb 2026IRWDSold
20 Feb 2026EWTXSold
21 Nov 2025LQDASold
15 Aug 2025NTRASold
15 Aug 2025LEGNSold
16 May 2025PTGXSold

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