What if you had copied SRS Investment Management?
Karthik Sarma
The verdict
Copying SRS Investment Management's 13F filings from Feb 2020 would have turned $10,000 into $29,184, 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 +17.3% a year against +14.4% for the S&P 500, 2.9 points a year ahead. Its worst fall was 56.4%, from Apr 21, 2026 to Nov 2, 2026. 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 SRS Investment Management$29,184
- S&P 500$24,639
- Bought their first portfolio and never traded$20,099
If you had bought their first portfolio and never traded, you would have ended at $20,099, so following every move earned $9,085 more.
- $10,000 copied
- $29,184
- +191.8%, +17.3% a year
- In the S&P 500
- $24,639
- +146.4%, +14.4% a year
- No trading
- $20,099
- Bought their first portfolio and never traded
- Worst fall
- −56.4%
- Apr 21, 2026 to Nov 2, 2026
- Trades
- 244
- 138 buys, 106 sales over 27 filings; about 63% of the copy traded a year
The moves that made the most
- CARAvis Budget+$6,166
Held since Feb 2020, the stock up 225%
- METAMeta Platforms+$3,319
Held since Feb 2020, the stock up 197%
- NFLXNetflix+$2,889
Held since Feb 2020, the stock up 65%
- SPOTSpotify Technology SA+$1,177
Held since May 2022, the stock up 395%
- AMDAdvanced Micro Devices+$1,143
Held since May 2024, the stock up 92%
- TPRTapestry+$1,050
Held since May 2025, the stock up 68%
The moves that cost the most
Held from Nov 2020 to Aug 2022, the stock down 77%
Held from Nov 2021 to May 2023, the stock down 70%
- CRDOCredo Technology−$490
Held since Feb 2026
- FRMIFermi−$412
Held since Aug 2026, the stock down 73%
- COHRCoherent−$401
Held since Aug 2026, the stock down 36%
Held from May 2025 to Nov 2025, the stock down 45%
Year by year
| Year | Copy | S&P 500 | Gap, pts |
|---|---|---|---|
| 2020from Feb 2020 | +52.9% | +13.1% | +39.8 |
| 2021 | +59.0% | +28.7% | +30.3 |
| 2022 | −28.9% | −18.2% | −10.7 |
| 2023 | +49.0% | +26.2% | +22.8 |
| 2024 | −3.7% | +24.9% | −28.6 |
| 2025 | +18.9% | +17.7% | +1.1 |
| 2026to Nov 2026 | −1.1% | +11.5% | −12.6 |
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.