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Funds (13F)

Voss Capital, LP

Backtest from 21 Feb 2020 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+22.1%
S&P 500 +14.6%
Last 12 months
+12.1%
S&P 500 +12.1%
Sharpe ratio
0.70
S&P 500 0.66
Biggest drop
−44.5%
S&P 500 −31.0%
$10.0k$20.0k$40.0k 2020202120222023202420252026 $38.0k$24.9k
Voss Capital, LPS&P 500 $10,000 in Voss Capital, LP from 21 Feb 2020 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Voss Capital, 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.

Voss Capital, LP's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+22.1%+14.6%
Total return+280%+149%
Last 12 months+12.1%+12.1%
Last 3 months+4.5%—
Last month+8.3%—
This year so far+10.1%—
Volatility a year31.0%18.9%
Sharpe ratio0.700.66
Biggest drop−44.5%−31.0%
Beta to the S&P 5001.321.00
Alpha a year (t-statistic)+5.3% (0.75)—
Share of weeks up57%—

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
FLYW12.1%——
SRE9.5%——
CLBT8.4%——
GFF7.4%——
FIVN5.2%——
SHC5.2%——
PAR5.2%——
CHH5.0%——
SN4.8%——
PRKS4.0%——
LRN3.8%——
CSR3.5%——
TDOC3.4%——
TTAM2.8%——
RXT2.5%——
EEFT2.5%——
XPOF2.4%——
VGNT2.1%——
GENI2.1%——
PK1.6%——
AVTR1.3%——
CELH1.2%——
QURE1.0%——
PHIN1.0%——
LEGH0.8%——
LGIH0.4%——
POWL0.3%——
CCS0.2%——
ACTU0.1%——
PEB0.1%——
SEER0.0%——
RDZN0.0%——
CGTX0.0%——

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

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest21 Feb 2020 to 2 Nov 2026+22.1%+14.6%0.700.66−44.5%1.32+5.3% (0.75)
Last three years3 Nov 2023 to 2 Nov 2026+19.5%+21.8%0.681.16−26.8%1.18−3.0% (−0.31)
Last year7 Nov 2025 to 2 Nov 2026+17.8%+14.2%0.650.84−21.0%1.17+3.3% (0.17)
DateCompanyAction
21 Aug 2026VGNTBought
21 Aug 2026SEERBought
21 Aug 2026RXTBought
21 Aug 2026RDZNBought
22 May 2026TDOCBought
22 May 2026SXTBought
22 May 2026SREBought
22 May 2026PKBought
22 May 2026CHHBought
22 May 2026ACHCBought
20 Feb 2026XERSBought
20 Feb 2026UNFBought
20 Feb 2026SNDXBought
20 Feb 2026PEBBought
20 Feb 2026OCBought
20 Feb 2026LRNBought
20 Feb 2026INVHBought
20 Feb 2026GOOGLBought
20 Feb 2026EQTBought
20 Feb 2026DHIBought
20 Feb 2026CSRBought
20 Feb 2026CELHBought
20 Feb 2026AREBought
20 Feb 2026AMZNBought
21 Nov 2025KNFBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026XERSSold
21 Aug 2026SXTSold
21 Aug 2026SWIMSold
21 Aug 2026RGNXSold
21 Aug 2026LTRNSold
21 Aug 2026INVHSold
21 Aug 2026ARESold
21 Aug 2026ACHCSold
22 May 2026UNFSold
22 May 2026SNDXSold
22 May 2026RMNISold
22 May 2026OCSold
22 May 2026KURASold
22 May 2026KNFSold
22 May 2026IRDSold
22 May 2026GOOGLSold
22 May 2026EQTSold
22 May 2026DHISold
22 May 2026CRHSold
22 May 2026AMZNSold
22 May 2026ALXSold
22 May 2026AIOTSold
20 Feb 2026SXTSold
20 Feb 2026RTOSold
20 Feb 2026RCKTSold

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