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Funds (13F)

Lyrical Asset Management LP

Backtest from 16 Aug 2013 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+14.7%
S&P 500 +14.1%
Last 12 months
+25.3%
S&P 500 +12.1%
Sharpe ratio
0.63
S&P 500 0.78
Biggest drop
−50.9%
S&P 500 −31.8%
$10.0k$20.0k$40.0k 2013201520172019202120232025 $61.4k$57.0k
Lyrical Asset Management LPS&P 500 $10,000 in Lyrical Asset Management LP from 16 Aug 2013 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Lyrical Asset 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.

Lyrical Asset Management LP's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+14.7%+14.1%
Total return+514%+470%
Last 12 months+25.3%+12.1%
Last 3 months−2.2%—
Last month−1.6%—
This year so far+18.1%—
Volatility a year23.1%16.0%
Sharpe ratio0.630.78
Biggest drop−50.9%−31.8%
Beta to the S&P 5001.281.00
Alpha a year (t-statistic)−1.5% (−0.51)—
Share of weeks up57%—

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
FLEX9.5%——
JCI5.6%——
NRG5.0%——
FFIV4.9%——
NTAP4.8%——
EBAY4.8%——
EXPE4.7%——
AER4.6%——
SNX3.9%——
AMP3.8%——
ARW3.4%——
HCA3.2%——
NXPI3.2%——
IQV3.1%——
UBER3.0%——
CI2.6%——
WCC2.5%——
GEN2.5%——
CPAY2.5%——
AMG2.0%——
CNC2.0%——
AIZ2.0%——
ICLR1.9%——
LAD1.8%——
FIS1.8%——
PRI1.8%——
SSNC1.8%——
GPN1.7%——
HSIC1.6%——
WEX1.4%——
LKQ1.0%——
AN0.8%——
CNXC0.4%——
CCK0.2%——
SUNB0.2%——
APTV0.1%——
VGNT0.0%——
GRAB0.0%——

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

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest16 Aug 2013 to 2 Nov 2026+14.7%+14.1%0.630.78−50.9%1.28−1.5% (−0.51)
2018 onwards5 Jan 2018 to 2 Nov 2026+13.5%+13.9%0.510.66−50.9%1.27−1.8% (−0.43)
Last three years3 Nov 2023 to 2 Nov 2026+25.5%+21.8%1.171.16−18.2%0.97+3.9% (0.68)
Last year7 Nov 2025 to 2 Nov 2026+23.1%+14.2%1.210.84−7.6%0.90+8.8% (0.87)
DateCompanyAction
14 Aug 2026VGNTBought
14 Aug 2026IQVBought
15 May 2026SUNBBought
15 May 2026ANBought
13 Feb 2026SSNCBought
13 Feb 2026ICLRBought
13 Feb 2026GRABBought
14 Nov 2025NTAPBought
15 Aug 2025LKQBought
14 Feb 2025HSICBought
14 Feb 2025APTVBought
15 Nov 2024WEXBought
15 Nov 2024WCCBought
15 Nov 2024URIBought
15 Nov 2024UBERBought
15 Nov 2024SUBought
15 Nov 2024SNXBought
15 Nov 2024PRIBought
15 Nov 2024NXPIBought
15 Nov 2024NRGBought
15 Nov 2024LEABought
15 Nov 2024LADBought
15 Nov 2024JCIBought
15 Nov 2024HCABought
15 Nov 2024GPNBought

Dated at the rebalance that made the change.

DateCompanyAction
13 Feb 2026URISold
13 Feb 2026LEASold
13 Feb 2026ADNTSold
14 Nov 2025SUSold
15 Aug 2025CNHSold
14 Feb 2025CESold

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