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Funds (13F)

Lansdowne Partners (UK) LLP

Backtest from 15 Aug 2014 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+14.1%
S&P 500 +13.6%
Last 12 months
+28.8%
S&P 500 +12.1%
Sharpe ratio
0.56
S&P 500 0.73
Biggest drop
−52.5%
S&P 500 −31.8%
$10.0k$20.0k$40.0k 2014201620182020202220242026 $50.2k$47.4k
Lansdowne Partners (UK) LLPS&P 500 $10,000 in Lansdowne Partners (UK) LLP from 15 Aug 2014 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Lansdowne Partners (UK) LLP'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.

Lansdowne Partners (UK) LLP's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+14.1%+13.6%
Total return+402%+374%
Last 12 months+28.8%+12.1%
Last 3 months−3.3%—
Last month−11.6%—
This year so far+21.1%—
Volatility a year25.5%16.4%
Sharpe ratio0.560.73
Biggest drop−52.5%−31.8%
Beta to the S&P 5001.321.00
Alpha a year (t-statistic)−1.4% (−0.36)—
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
TSM29.2%——
ARM15.8%——
DAL9.6%——
ADI9.5%——
UAL8.7%——
BKR5.7%——
LIN5.1%——
SLB4.9%——
GOLF2.5%——
IONQ2.1%——
AMZN1.3%——
TXN1.1%——
SW0.7%——
B0.6%——
RAL0.6%——
ETN0.6%——
NVT0.5%——
A0.5%——
MDT0.3%——
ST0.3%——
ROK0.2%——
AEM0.0%——
MAR0.0%——
LAMR0.0%——
OUT0.0%——

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

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest15 Aug 2014 to 2 Nov 2026+14.1%+13.6%0.560.73−52.5%1.32−1.4% (−0.36)
2018 onwards5 Jan 2018 to 2 Nov 2026+12.3%+13.9%0.450.66−52.5%1.35−3.0% (−0.59)
Last three years3 Nov 2023 to 2 Nov 2026+31.0%+21.8%1.151.16−21.6%1.17+5.8% (0.72)
Last year7 Nov 2025 to 2 Nov 2026+31.5%+14.2%1.050.84−15.1%1.31+13.2% (0.67)
DateCompanyAction
21 Aug 2026STBought
21 Aug 2026OUTBought
21 Aug 2026NVTBought
21 Aug 2026LAMRBought
21 Aug 2026ABought
15 May 2026SLBBought
15 May 2026BKRBought
20 Feb 2026MDTBought
20 Feb 2026ETNBought
20 Feb 2026ALCBought
21 Nov 2025BBought
21 Nov 2025ARMBought
15 Aug 2025VMCBought
15 Aug 2025UALBought
15 Aug 2025RALBought
16 May 2025TXNBought
16 May 2025SWBought
16 May 2025ROKBought
16 May 2025MARBought
16 May 2025FTVBought
16 May 2025FLUTBought
16 May 2025BABABought
17 Nov 2023ZLABBought
17 Nov 2023SYYBought
17 Nov 2023MNSOBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026ALCSold
15 May 2026FTVSold
15 May 2026FLUTSold
15 May 2026CRHSold
21 Nov 2025VMCSold
21 Nov 2025FCXSold
15 Aug 2025BABASold
16 May 2025ZLABSold
16 May 2025VMCSold
16 May 2025SYYSold
16 May 2025SPOTSold
16 May 2025SCHWSold
16 May 2025RYAAYSold
16 May 2025RGTISold
16 May 2025RBLXSold
16 May 2025MRNASold
16 May 2025MNSOSold
16 May 2025LLYSold
16 May 2025LISold
16 May 2025IQSold
16 May 2025HUYASold
16 May 2025HSAISold
16 May 2025ETNSold
16 May 2025EHSold
16 May 2025BIDUSold

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