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Funds (13F)

Rush Island Management, LP

Backtest from 15 Feb 2019 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+6.9%
S&P 500 +15.6%
Last 12 months
+4.3%
S&P 500 +12.1%
Sharpe ratio
0.28
S&P 500 0.73
Biggest drop
−53.5%
S&P 500 −31.8%
$10.0k$20.0k 20192020202120222023202420252026 $30.6k$16.8k
Rush Island Management, LPS&P 500 $10,000 in Rush Island Management, LP from 15 Feb 2019 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Rush Island 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.

Rush Island Management, LP's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+6.9%+15.6%
Total return+68%+206%
Last 12 months+4.3%+12.1%
Last 3 months−7.5%—
Last month+3.9%—
This year so far+5.7%—
Volatility a year29.1%18.0%
Sharpe ratio0.280.73
Biggest drop−53.5%−31.8%
Beta to the S&P 5001.181.00
Alpha a year (t-statistic)−7.5% (−1.05)—
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
INVH9.1%——
ESS8.5%——
NNN7.6%——
KRC7.3%——
HR7.0%——
VTR6.5%——
SBRA5.4%——
SBAC5.3%——
FR5.2%——
BXDC5.1%——
VMRK4.4%——
AMT4.4%——
ADC4.4%——
DOC4.2%——
MAC3.5%——
EPRT3.2%——
IRT2.6%——
NHP2.5%——
VICI1.3%——
SITC1.2%——
POOL0.7%——
FUN0.6%——

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

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest15 Feb 2019 to 2 Nov 2026+6.9%+15.6%0.280.73−53.5%1.18−7.5% (−1.05)
Last three years3 Nov 2023 to 2 Nov 2026+10.1%+21.8%0.411.16−14.8%0.42−0.6% (−0.07)
Last year7 Nov 2025 to 2 Nov 2026+3.6%+14.2%0.050.84−13.4%0.34−2.6% (−0.17)
DateCompanyAction
21 Aug 2026VMRKBought
21 Aug 2026VICIBought
21 Aug 2026POOLBought
21 Aug 2026NHPBought
21 Aug 2026MACBought
21 Aug 2026DOCBought
21 Aug 2026BXDCBought
21 Aug 2026AMTBought
22 May 2026SNDABought
22 May 2026SBRABought
22 May 2026JANBought
22 May 2026IRTBought
22 May 2026INVHBought
22 May 2026EPRTBought
22 May 2026CSGPBought
22 May 2026APLEBought
22 May 2026ADCBought
20 Feb 2026UDRBought
20 Feb 2026SMABought
20 Feb 2026COLDBought
21 Nov 2025SHOBought
21 Nov 2025LINEBought
21 Nov 2025HUTBought
21 Nov 2025ESSBought
21 Nov 2025CURBBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026SNDASold
21 Aug 2026JANSold
21 Aug 2026FRTSold
21 Aug 2026CURBSold
21 Aug 2026CSGPSold
21 Aug 2026COLDSold
21 Aug 2026APLESold
21 Aug 2026AKRSold
22 May 2026UDRSold
22 May 2026SMASold
22 May 2026OSold
20 Feb 2026SHOSold
20 Feb 2026LINESold
20 Feb 2026HUTSold
20 Feb 2026HSold
21 Nov 2025HSTSold
21 Nov 2025EQIXSold
21 Nov 2025CORZSold
21 Nov 2025AIVSold
15 Aug 2025REXRSold
15 Aug 2025CUZSold
15 Aug 2025BKDSold
16 May 2025NTSTSold
16 May 2025FRSold
21 Feb 2025SHOSold

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