Funds (13F)
TCI Fund Management Ltd
Backtest from 21 Aug 2015 to 2 Nov 2026 · weekly · hypothetical
- Return a year
- +16.8% S&P 500 +14.6%
- Last 12 months
- +7.7% S&P 500 +12.1%
- Sharpe ratio
- 0.74 S&P 500 0.76
- Biggest drop
- −32.7% S&P 500 −31.8%
About
Copies TCI Fund Management 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.
Key statistics
| Measure | Strategy | S&P 500 |
|---|---|---|
| Return a year (compound) | +16.8% | +14.6% |
| Total return | +468% | +360% |
| Last 12 months | +7.7% | +12.1% |
| Last 3 months | +1.5% | — |
| Last month | +10.4% | — |
| This year so far | +4.5% | — |
| Volatility a year | 20.5% | 16.7% |
| Sharpe ratio | 0.74 | 0.76 |
| Biggest drop | −32.7% | −31.8% |
| Beta to the S&P 500 | 1.01 | 1.00 |
| Alpha a year (t-statistic) | +2.4% (0.69) | — |
| Share of weeks up | 58% | — |
Insights
| Period | Return a year | S&P 500 | Sharpe | S&P 500 | Biggest drop | Beta | Alpha (t) |
|---|---|---|---|---|---|---|---|
| Whole backtest21 Aug 2015 to 2 Nov 2026 | +16.8% | +14.6% | 0.74 | 0.76 | −32.7% | 1.01 | +2.4% (0.69) |
| 2018 onwards5 Jan 2018 to 2 Nov 2026 | +16.6% | +13.9% | 0.70 | 0.66 | −32.7% | 1.01 | +2.9% (0.77) |
| Last three years3 Nov 2023 to 2 Nov 2026 | +23.3% | +21.8% | 1.04 | 1.16 | −16.0% | 0.92 | +3.0% (0.45) |
| Last year7 Nov 2025 to 2 Nov 2026 | +8.7% | +14.2% | 0.33 | 0.84 | −15.0% | 0.77 | −1.6% (−0.10) |