What if you had copied D. E. Shaw?
Founded by David Shaw
The verdict
Copying D. E. Shaw's 13F filings from Feb 2020 would have turned $10,000 into $28,856, more than the S&P 500 did.
The S&P 500 turned the same $10,000 into $24,639 over the same days. The copy returned +17.1% a year against +14.4% for the S&P 500, 2.7 points a year ahead. Its worst fall was 31.2%, from Feb 19, 2020 to Mar 23, 2020. The S&P 500's worst fall over the test was 33.7%.
Copied Feb 18, 2020 to Nov 9, 2026 · SEC 13F filings and daily closes
What $10,000 became
- Copying D. E. Shaw$28,856
- S&P 500$24,639
- Bought their first portfolio and never traded$26,519
If you had bought their first portfolio and never traded, you would have ended at $26,519, so following every move earned $2,337 more.
- $10,000 copied
- $28,856
- +188.6%, +17.1% a year
- In the S&P 500
- $24,639
- +146.4%, +14.4% a year
- No trading
- $26,519
- Bought their first portfolio and never traded
- Worst fall
- −31.2%
- Feb 19, 2020 to Mar 23, 2020
- Trades
- 929
- 489 buys, 440 sales over 27 filings; about 142% of the copy traded a year
The moves that made the most
- NVDANVIDIA+$2,367
Held since May 2020, the stock up 1,713%
- MUMicron Technology+$1,911
Held since Feb 2020, the stock up 604%
- AAPLApple+$1,805
Held since Feb 2020, the stock up 356%
- MSFTMicrosoft+$1,303
Held since Feb 2020, the stock up 209%
Held from Aug 2023 to Aug 2026, the stock up 980%
Held since Feb 2020, the stock up 208%
The moves that cost the most
- BSXBoston Scientific−$418
Held since Feb 2021, the stock down 54%
Held from May 2023 to Nov 2023, the stock down 73%
- RBLXRoblox−$197
Held from Aug 2025 to Feb 2026, the stock down 46%
- FICOFair Isaac−$186
Held from Feb 2024 to May 2026, the stock down 56%
- SNAP−$186
Held from Feb 2021 to Nov 2023, the stock down 63%
- INTCIntel−$182
Held since Feb 2020, the stock down 21%
Year by year
| Year | Copy | S&P 500 | Gap, pts |
|---|---|---|---|
| 2020from Feb 2020 | +24.6% | +13.1% | +11.5 |
| 2021 | +26.2% | +28.7% | −2.5 |
| 2022 | −26.2% | −18.2% | −8.1 |
| 2023 | +38.0% | +26.2% | +11.8 |
| 2024 | +34.3% | +24.9% | +9.4 |
| 2025 | +23.5% | +17.7% | +5.8 |
| 2026to Nov 2026 | +8.7% | +11.5% | −2.8 |
A historical test on paper, before costs and taxes. It trades at the close of the first trading day after each filing comes out, up to 45 days after the quarter, and skips delisted companies, which flatters it.