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Funds (13F)

Windacre Partnership LLC

Backtest from 20 Feb 2015 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+20.3%
S&P 500 +13.4%
Last 12 months
+18.8%
S&P 500 +12.1%
Sharpe ratio
0.82
S&P 500 0.71
Biggest drop
−41.1%
S&P 500 −31.8%
$10.0k$20.0k$40.0k$80.0k 201520172019202120232025 $86.9k$43.5k
Windacre Partnership LLCS&P 500 $10,000 in Windacre Partnership LLC from 20 Feb 2015 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Windacre Partnership 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.

Windacre Partnership LLC's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+20.3%+13.4%
Total return+769%+335%
Last 12 months+18.8%+12.1%
Last 3 months+5.8%—
Last month+12.9%—
This year so far+13.2%—
Volatility a year23.2%16.5%
Sharpe ratio0.820.71
Biggest drop−41.1%−31.8%
Beta to the S&P 5001.191.00
Alpha a year (t-statistic)+5.0% (1.38)—
Share of weeks up58%—

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
ROP28.9%——
EXPE9.9%——
FNF9.8%——
TDG9.0%——
SAP6.7%——
SGI6.5%——
MCO6.3%——
TSM6.2%——
AMZN5.7%——
PRM5.7%——
NVDA5.3%——

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

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest20 Feb 2015 to 2 Nov 2026+20.3%+13.4%0.820.71−41.1%1.19+5.0% (1.38)
2018 onwards5 Jan 2018 to 2 Nov 2026+22.1%+13.9%0.810.66−41.1%1.20+6.0% (1.44)
Last three years3 Nov 2023 to 2 Nov 2026+30.9%+21.8%1.311.16−18.1%1.11+6.1% (1.05)
Last year7 Nov 2025 to 2 Nov 2026+17.6%+14.2%0.800.84−16.4%0.92+4.4% (0.34)
DateCompanyAction
20 Feb 2026ROPBought
20 Feb 2026FGBought
16 May 2025SGIBought
21 Feb 2025PRMBought
21 Feb 2025NVDABought
15 Nov 2024TSMBought
15 Nov 2024TDGBought
15 Nov 2024SAPBought
15 Nov 2024MCOBought
15 Nov 2024HLFBought
15 Nov 2024GOOGLBought
15 Nov 2024FNFBought
15 Nov 2024EXPEBought
15 Nov 2024ASMLBought
15 Nov 2024AMZNBought

Dated at the rebalance that made the change.

DateCompanyAction
22 May 2026GOOGLSold
22 May 2026FGSold
21 Nov 2025ASMLSold
21 Feb 2025HLFSold

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