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Funds (13F)

SRS Investment Management, LLC

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

Watch this strategy
Return a year
+19.9%
S&P 500 +14.1%
Last 12 months
−10.1%
S&P 500 +12.1%
Sharpe ratio
0.64
S&P 500 0.78
Biggest drop
−49.5%
S&P 500 −31.8%
$10.0k$20.0k$40.0k$80.0k$160k 2013201520172019202120232025 $110k$57.0k
StrategyS&P 500 $10,000 in SRS Investment 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 SRS Investment 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.

SRS Investment Management, LLC's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+19.9%+14.1%
Total return+1004%+470%
Last 12 months−10.1%+12.1%
Last 3 months−12.1%—
Last month−10.9%—
This year so far−8.1%—
Volatility a year35.1%16.0%
Sharpe ratio0.640.78
Biggest drop−49.5%−31.8%
Beta to the S&P 5001.431.00
Alpha a year (t-statistic)+4.6% (0.62)—
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
CAR24.1%——
NFLX10.2%——
RBLX6.7%——
CRDO6.5%——
TPR5.6%——
AMD4.7%——
NVDA4.7%——
META3.8%——
UAL3.8%——
COHR3.4%——
BURL3.2%——
CLS3.1%——
KMX2.9%——
PLNT2.4%——
MDB2.3%——
TWLO2.1%——
FIVE1.9%——
FRMI1.7%——
TSM1.2%——
HUT1.1%——
SPOT1.1%——
ABNB0.8%——
SNDK0.8%——
WRBY0.4%——
CRL0.4%——
TCOM0.3%——
CMCSA0.2%——
ELV0.2%——
CPNG0.2%——
HUM0.1%——
HSAI0.1%——
SOUN0.1%——

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+19.9%+14.1%0.640.78−49.5%1.43+4.6% (0.62)
2018 onwards5 Jan 2018 to 2 Nov 2026+18.6%+13.9%0.560.66−49.5%1.40+5.1% (0.51)
Last three years3 Nov 2023 to 2 Nov 2026+5.9%+21.8%0.241.16−49.5%1.47−13.6% (−0.65)
Last year7 Nov 2025 to 2 Nov 2026−11.0%+14.2%0.050.84−49.5%2.27−19.5% (−0.35)
DateCompanyAction
21 Aug 2026SOUNBought
21 Aug 2026HUMBought
21 Aug 2026FRMIBought
21 Aug 2026CRLBought
21 Aug 2026COHRBought
22 May 2026SNDKBought
22 May 2026FIVEBought
22 May 2026CPNGBought
20 Feb 2026WRBYBought
20 Feb 2026TWLOBought
20 Feb 2026RBLXBought
20 Feb 2026HUTBought
20 Feb 2026HSAIBought
20 Feb 2026FNBought
20 Feb 2026CRDOBought
20 Feb 2026ABNBBought
21 Nov 2025LOWBought
21 Nov 2025KMXBought
21 Nov 2025HDBought
21 Nov 2025DALBought
21 Nov 2025CNCBought
21 Nov 2025AMDBought
15 Aug 2025WWWBought
15 Aug 2025NVDABought
15 Aug 2025MSFTBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026GLBESold
21 Aug 2026DALSold
22 May 2026PDDSold
22 May 2026LOWSold
22 May 2026HDSold
22 May 2026FNSold
22 May 2026CVSSold
20 Feb 2026WWWSold
20 Feb 2026LADSold
20 Feb 2026CNCSold
20 Feb 2026CAISold
20 Feb 2026ALGNSold
21 Nov 2025TEAMSold
21 Nov 2025SNAPSold
21 Nov 2025MSFTSold
21 Nov 2025HIMSSold
15 Aug 2025UNHSold
15 Aug 2025TRIPSold
15 Aug 2025RGTISold
15 Aug 2025HUMSold
16 May 2025WDCSold
16 May 2025VSXYSold
16 May 2025NVDASold
16 May 2025DECKSold
21 Feb 2025SHOPSold

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