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Funds (13F)

Quadrature Capital Ltd

Backtest from 28 Aug 2020 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+59.4%
S&P 500 +14.8%
Last 12 months
+10.8%
S&P 500 +12.1%
Sharpe ratio
0.73
S&P 500 0.28
Biggest drop
−35.8%
S&P 500 −40.7%
$10.0k$20.0k$40.0k$80.0k$160k 2020202120222023202420252026 $178k$23.5k
Quadrature Capital LtdS&P 500 $10,000 in Quadrature Capital Ltd from 28 Aug 2020 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Quadrature Capital Ltd'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.

Quadrature Capital Ltd's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+59.4%+14.8%
Total return+1683%+135%
Last 12 months+10.8%+12.1%
Last 3 months−2.0%—
Last month−8.8%—
This year so far+10.0%—
Volatility a year31.7%21.6%
Sharpe ratio0.730.28
Biggest drop−35.8%−40.7%
Beta to the S&P 5000.611.00
Alpha a year (t-statistic)+19.5% (2.50)—
Share of weeks up55%—

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
AMD5.0%——
INTC4.7%——
ASML4.4%——
STX3.4%——
AMZN2.9%——
SU2.5%——
LITE2.5%——
ENB2.1%——
RACE2.1%——
DELL2.0%——
SNDK1.6%——
INTU1.5%——
AEM1.3%——
PLTR1.3%——
CME1.3%——
WDC1.3%——
JPM1.3%——
BNS1.2%——
TSM1.2%——
MSTR1.1%——
ORCL1.1%——
NVDA1.1%——
TXN1.1%——
QCOM1.0%——
LLY1.0%——
SMCI1.0%——
CLS0.9%——
MELI0.9%——
ACN0.9%——
ADBE0.9%——
UAL0.8%——
HPE0.8%——
UNH0.8%——
MPWR0.7%——
MS0.6%——
ABBV0.6%——
BAM0.6%——
TU0.6%——
FDX0.6%——
CRDO0.6%——
FTS0.6%——
BLK0.5%——
WFC0.5%——
CRCL0.5%——
SLF0.5%——
AAL0.5%——
FN0.5%——
GE0.4%——
ICE0.4%——
ZTS0.4%——
RDDT0.4%——
SCHW0.4%——
TRI0.4%——
DAL0.4%——
BSX0.4%——
BABA0.4%——
COHR0.4%——
MARA0.4%——
SMTC0.4%——
AXON0.4%——
CCJ0.4%——
WPM0.4%——
MGA0.3%——
URI0.3%——
REGN0.3%——
AZN0.3%——
MFC0.3%——
NFLX0.3%——
GS0.3%——
CIEN0.3%——
NVO0.3%——
PEP0.3%——
BMO0.3%——
SAP0.3%——
PFE0.3%——
VRTX0.3%——
UPS0.3%——
NTRA0.2%——
NKE0.2%——
MCK0.2%——
VST0.2%——
HBM0.2%——
NEE0.2%——
FNV0.2%——
ERO0.2%——
MMM0.2%——
RVMD0.2%——
AU0.2%——
LMT0.2%——
ZS0.2%——
RBLX0.2%——
ORLY0.2%——
BA0.2%——
BAC0.2%——
PRIM0.2%——
ABT0.2%——
STN0.1%——
PSX0.1%——
AEP0.1%——
LHX0.1%——
PDS0.1%——
NEM0.1%——
AEIS0.1%——
AEE0.1%——
KR0.1%——
FOXA0.1%——
TGT0.1%——
WDAY0.1%——
CHTR0.1%——
ISRG0.1%——
HNGE0.1%——
IREN0.1%——
WWD0.1%——
NOC0.1%——
VIAV0.1%——
CAE0.1%——
MEOH0.1%——
FCX0.1%——
MSM0.1%——
AMBA0.1%——
SNPS0.1%——
EMA0.1%——
SANM0.1%——
ESLT0.1%——
GH0.1%——
UTHR0.1%——
LYV0.1%——
BNY0.1%——
AYI0.1%——
V0.1%——
UNP0.1%——
FPS0.1%——
PGR0.1%——
VRSK0.1%——
LOPE0.1%——
PPL0.1%——
GD0.1%——
XYZ0.1%——
DHI0.1%——
ONC0.1%——
CTSH0.1%——
RIOT0.1%——
COIN0.1%——
ATO0.1%——
SO0.1%——
MXL0.1%——
MTD0.1%——
TMO0.1%——
TKO0.1%——
AMP0.1%——

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

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest28 Aug 2020 to 2 Nov 2026+59.4%+14.8%0.730.28−35.8%0.61+19.5% (2.50)
Last three years3 Nov 2023 to 2 Nov 2026+80.7%+21.8%0.640.24−33.2%0.45+15.2% (1.91)
Last year7 Nov 2025 to 2 Nov 2026+14.9%+14.2%0.620.84−10.9%1.34−1.7% (−0.16)
DateCompanyAction
14 Aug 2026ZUMZBought
14 Aug 2026ZLABBought
14 Aug 2026ZIONBought
14 Aug 2026ZBRABought
14 Aug 2026YMMBought
14 Aug 2026XRXBought
14 Aug 2026WYYBought
14 Aug 2026WYNNBought
14 Aug 2026WULFBought
14 Aug 2026WTFCBought
14 Aug 2026WSFSBought
14 Aug 2026WSEBought
14 Aug 2026WNCBought
14 Aug 2026WIXBought
14 Aug 2026WHWKBought
14 Aug 2026WGSBought
14 Aug 2026WEXBought
14 Aug 2026WEAVBought
14 Aug 2026WCCBought
14 Aug 2026WABCBought
14 Aug 2026WABBought
14 Aug 2026VZLABought
14 Aug 2026VYGRBought
14 Aug 2026VTVTBought
14 Aug 2026VRTXBought

Dated at the rebalance that made the change.

DateCompanyAction
14 Aug 2026ZYMESold
14 Aug 2026ZONESold
14 Aug 2026YSSSold
14 Aug 2026YALASold
14 Aug 2026XZOSold
14 Aug 2026XYFSold
14 Aug 2026XPOSold
14 Aug 2026XPEVSold
14 Aug 2026XMAXSold
14 Aug 2026WSMSold
14 Aug 2026WRBSold
14 Aug 2026WPCSold
14 Aug 2026WMBSold
14 Aug 2026WELLSold
14 Aug 2026WCNSold
14 Aug 2026WBISold
14 Aug 2026VZSold
14 Aug 2026VTRSSold
14 Aug 2026VTRSold
14 Aug 2026VTOLSold
14 Aug 2026VSXYSold
14 Aug 2026VRSNSold
14 Aug 2026VRASold
14 Aug 2026VOXRSold
14 Aug 2026VORSold

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