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Funds (13F)

Palestra Capital Management LLC

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

Watch this strategy
Return a year
+12.7%
S&P 500 +14.1%
Last 12 months
−7.4%
S&P 500 +12.1%
Sharpe ratio
0.59
S&P 500 0.78
Biggest drop
−43.6%
S&P 500 −31.8%
$10.0k$20.0k$40.0k 2013201520172019202120232025 $57.0k$48.8k
StrategyS&P 500 $10,000 in Palestra Capital Management LLC 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 Palestra Capital Management LLC'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.

Palestra Capital Management LLC's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+12.7%+14.1%
Total return+388%+470%
Last 12 months−7.4%+12.1%
Last 3 months−3.6%—
Last month−6.2%—
This year so far−9.2%—
Volatility a year20.4%16.0%
Sharpe ratio0.590.78
Biggest drop−43.6%−31.8%
Beta to the S&P 5001.161.00
Alpha a year (t-statistic)−2.4% (−1.03)—
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
STX12.6%——
LIN7.7%——
ADI7.6%——
AMZN7.6%——
UNP7.0%——
HSIC6.9%——
NU6.4%——
SPOT6.3%——
LRCX5.7%——
AMD4.7%——
CPNG4.0%——
PRMB3.8%——
V3.8%——
JHX3.7%——
TTMI3.6%——
NVDA2.6%——
GOOGL2.1%——
CVNA1.8%——
MSFT1.0%——
TSM0.7%——
SKYD0.4%——

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+12.7%+14.1%0.590.78−43.6%1.16−2.4% (−1.03)
2018 onwards5 Jan 2018 to 2 Nov 2026+8.8%+13.9%0.360.66−43.6%1.17−5.6% (−1.85)
Last three years3 Nov 2023 to 2 Nov 2026+19.6%+21.8%0.801.16−24.2%1.19−4.0% (−0.75)
Last year7 Nov 2025 to 2 Nov 2026−4.9%+14.2%−0.450.84−17.6%1.14−18.7% (−1.95)
DateCompanyAction
21 Aug 2026TTMIBought
21 Aug 2026TSMBought
21 Aug 2026LRCXBought
21 Aug 2026JHXBought
21 Aug 2026AMDBought
22 May 2026STXBought
22 May 2026SPOTBought
22 May 2026ROKUBought
22 May 2026CPNGBought
22 May 2026AMATBought
22 May 2026ADIBought
20 Feb 2026UALBought
20 Feb 2026PCORBought
20 Feb 2026LINBought
20 Feb 2026GOOGLBought
20 Feb 2026DHRBought
20 Feb 2026CRSBought
20 Feb 2026CMCSABought
20 Feb 2026CLHBought
21 Nov 2025UNPBought
21 Nov 2025TLNBought
21 Nov 2025SKYDBought
21 Nov 2025NVDABought
21 Nov 2025NUBought
21 Nov 2025FICOBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026ROKUSold
21 Aug 2026PTCSold
21 Aug 2026DHRSold
21 Aug 2026CRMSold
21 Aug 2026APPSold
21 Aug 2026AMATSold
22 May 2026UALSold
22 May 2026PCORSold
22 May 2026METASold
22 May 2026LUMNSold
22 May 2026DLTRSold
22 May 2026CRSSold
22 May 2026CRHSold
22 May 2026COFSold
22 May 2026CMCSASold
22 May 2026CLHSold
22 May 2026AYISold
20 Feb 2026TLNSold
20 Feb 2026SNSold
20 Feb 2026SESold
20 Feb 2026PFGCSold
20 Feb 2026HLTSold
20 Feb 2026FLUTSold
20 Feb 2026FICOSold
20 Feb 2026CPNGSold

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