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Backtest

Point72 Asset Management, L.P.

What you'd have made by mirroring Point72 Asset Management, L.P.'s public 13F filings, starting with $10,000 on Aug 14, 2024 and rebalancing at every disclosure through May 31, 2026.

8 filings replayed2926 of 3592 CUSIPs mapped to tickers3258 closed trades1983 still open
Benchmark
SPYIWMQQQEFAAGG
Nasdaq-100 — US large-cap tech-heavy

Equity curve

$10,000 mirrored · vs QQQ
$10k$12k$14k$16k20252026
Mirror portfolio$10k in QQQ
Mirror — final
$14.62K
QQQ — final
$15.94K
Mirror return
+46.2%
Excess return vs QQQ
-13.1%

Risk profile

Weekly mirror returns vs QQQ · rf ≈ 4%
Sharpe
1.26
Max drawdown
-17.2%
Beta vs QQQ
0.37
Information ratio
-0.32
CAGR
+23.6%
Volatility (ann.)
15.5%
Sortino
1.29
α (Jensen, ann.)
+10.0%
Tracking error
18.8%
Upside capture
55%
Downside capture
40%
Window
1.8y

Drawdown

Underwater curve — distance below running peak
-15%-10%-5%0%-17.2%20252026

Largest drawdown: -17.2% from 2024-12-04 to 2025-04-16 · recovered 2025-07-23.

Style decomposition

R² 44% · 94 weekly obs

Multivariate regression of weekly mirror excess return on five style factors built from the benchmark ETFs: SPY (market), IWM−SPY (size), QQQ−SPY (growth), EFA−SPY (international), AGG−SPY (bonds). The intercept is the “true alpha” after stripping these passive tilts. ✓ marks loadings whose |t-stat| ≥ 2 (≈ 95% confidence the loading is non-zero).

Market (β)
+0.59
Size tilt
+0.51✓
Growth tilt
-0.12
International tilt
-0.14
Bond tilt
+0.11
α (style-adjusted)
+10.7%
R²
44%
α t-stat
1.19
Observations
94

Rolling 1y alpha

Trailing 52w mirror return − QQQ return
-10%-5%0%+5%+10%avg -2.9%now -6.9%2026

Whether the headline alpha was earned recently or decades ago. Bands above the zero line are quarters where the mirror beat QQQ on a trailing-year basis; bands below are quarters where it lost ground. A flat positive line = steady outperformance; a curve that crosses often = regime-dependent strategy.

Realized P&L · closed trades

Cumulative profit from positions opened and later sold
$0$200$400$600$800$1.0k$1.2kLITE +$218PRAX +$80CSCO +$54AMZN +$4820252026
Realized P&L
+$1.09K
Closed trades
3,258
Win rate
42%
Avg return / closed
+6.2%

Biggest closed trades

IssuerEntryExitHeldReturnP&L
LUMENTUM HLDGS INC
LITE
Q3 2024Q4 20255Q+410%+$673.71M
PRAXIS PRECISION MEDICINES I
PRAX
Q3 2024Q2 20267Q+568%+$247.21M
CISCO SYS INC
CSCO
Q1 2026Q2 20261Q+55%+$166.16M
AMAZON COM INC
AMZN
Q3 2024Q4 20241Q+24%+$148.72M
GE VERNOVA INC
GEV
Q3 2024Q1 20252Q+100%+$124.08M
CELESTICA INC
CLS
Q3 2024Q3 20254Q+276%+$124.01M
ROBINHOOD MKTS INC
HOOD
Q3 2024Q3 20254Q+494%+$122.46M
VIAVI SOLUTIONS INC
VIAV
Q4 2025Q2 20262Q+204%+$105.95M
DELL TECHNOLOGIES INC
DELL
Q3 2024Q4 20241Q+31%+$102.25M
ACADIA HEALTHCARE COMPANY IN
ACHC
Q3 2024Q2 20253Q-65%−$99.24M

Every trade · entry date × return

Bubble = position size at entry
-50%-25%0%+25%+50%+100%+200%+500%MXL · +727%CIEN · +652%OKLO · +591%20252026
PositiveNegativeStill open (marked to market)
Best closed pick
MXL +727%
Worst closed pick
QTTB -93%
Total trades
5,241
Open trades
1,983