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Funds (13F)

Park West Asset Management LLC

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

Watch this strategy
Return a year
+12.2%
S&P 500 +14.1%
Last 12 months
+6.6%
S&P 500 +12.1%
Sharpe ratio
0.50
S&P 500 0.78
Biggest drop
−51.1%
S&P 500 −31.8%
$10.0k$20.0k$40.0k 2013201520172019202120232025 $57.0k$45.6k
StrategyS&P 500 $10,000 in Park West Asset 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 Park West Asset 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.

Park West Asset Management LLC's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+12.2%+14.1%
Total return+356%+470%
Last 12 months+6.6%+12.1%
Last 3 months−11.5%—
Last month−6.6%—
This year so far+1.8%—
Volatility a year25.8%16.0%
Sharpe ratio0.500.78
Biggest drop−51.1%−31.8%
Beta to the S&P 5001.341.00
Alpha a year (t-statistic)−3.8% (−0.95)—
Share of weeks up54%—

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
FLEX6.5%——
AMZN5.5%——
HQY5.0%——
GOOGL4.9%——
GLAS4.8%——
MKSI4.4%——
ENVA4.3%——
PRMB4.2%——
PRCH3.8%——
BKD3.5%——
OPLN3.3%——
TOST3.2%——
VSTS3.1%——
CCOI3.1%——
CNK2.9%——
META2.8%——
MGNI2.7%——
FTRE2.6%——
SMTC2.5%——
SNPS2.2%——
RKT2.2%——
CXW1.9%——
WDC1.8%——
ELAN1.8%——
GEO1.6%——
CHWY1.6%——
SXT1.5%——
Z1.5%——
CRH1.4%——
ROKU1.3%——
P1.3%——
MAMA1.0%——
TIGO0.9%——
CPNG0.8%——
BKNG0.7%——
WULF0.7%——
DHC0.7%——
VGNT0.7%——
CRL0.7%——
MCY0.4%——
UTI0.2%——

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+12.2%+14.1%0.500.78−51.1%1.34−3.8% (−0.95)
2018 onwards5 Jan 2018 to 2 Nov 2026+9.8%+13.9%0.370.66−51.1%1.36−5.2% (−0.95)
Last three years3 Nov 2023 to 2 Nov 2026+20.1%+21.8%0.791.16−21.7%1.15−2.7% (−0.39)
Last year7 Nov 2025 to 2 Nov 2026+6.8%+14.2%0.230.84−16.1%1.31−8.2% (−0.60)
DateCompanyAction
21 Aug 2026VSTSBought
21 Aug 2026VGNTBought
21 Aug 2026TIGOBought
21 Aug 2026SXTBought
21 Aug 2026ROKUBought
21 Aug 2026RKTBought
21 Aug 2026PBought
21 Aug 2026METABought
21 Aug 2026GLASBought
21 Aug 2026ELANBought
21 Aug 2026CHWYBought
21 Aug 2026BKNGBought
22 May 2026TFXBought
22 May 2026SYMBought
22 May 2026SMTCBought
22 May 2026RYAMBought
22 May 2026OPLNBought
22 May 2026MGNIBought
22 May 2026HQYBought
22 May 2026GEOBought
22 May 2026FPSBought
22 May 2026CXWBought
22 May 2026CRLBought
20 Feb 2026TTMIBought
20 Feb 2026SNPSBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026TFXSold
21 Aug 2026SYMSold
21 Aug 2026RYAMSold
21 Aug 2026OPCHSold
21 Aug 2026NVDASold
21 Aug 2026LADSold
21 Aug 2026KEXSold
21 Aug 2026HUTSold
21 Aug 2026FPSSold
21 Aug 2026ENOVSold
21 Aug 2026CVSSold
21 Aug 2026BDXSold
21 Aug 2026AZTASold
22 May 2026VERXSold
22 May 2026TTMISold
22 May 2026OMFSold
22 May 2026KRCSold
22 May 2026HPPSold
22 May 2026GTMSold
22 May 2026FLUTSold
22 May 2026BTSGSold
22 May 2026ALVSold
20 Feb 2026VYXSold
20 Feb 2026TSEMSold
20 Feb 2026TIGOSold

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