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CITADEL ADVISORS LLC

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

8 filings replayed5397 of 10383 CUSIPs mapped to tickers9209 closed trades6006 still open
Benchmark
SPYIWMQQQEFAAGG
S&P 500 — US large-cap broad market

Equity curve

$10,000 mirrored · vs SPY
$10k$11k$12k$13k$14k20252026
Mirror portfolio$10k in SPY
Mirror — final
$13.69K
SPY — final
$14.21K
Mirror return
+36.9%
Excess return vs SPY
-5.2%

Risk profile

Weekly mirror returns vs SPY · rf ≈ 4%
Sharpe
1.12
Max drawdown
-14.9%
Beta vs SPY
0.98
Information ratio
-0.44
CAGR
+19.1%
Volatility (ann.)
13.5%
Sortino
1.10
α (Jensen, ann.)
-2.1%
Tracking error
5.7%
Upside capture
97%
Downside capture
102%
Window
1.8y

Drawdown

Underwater curve — distance below running peak
-15%-10%-5%0%-14.9%20252026

Largest drawdown: -14.9% from 2024-12-04 to 2025-04-16 · recovered 2025-07-23.

Style decomposition

R² 49% · 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)
+0.52✓
Size tilt
+0.46✓
Growth tilt
-0.28
International tilt
-0.11
Bond tilt
+0.04
α (style-adjusted)
+7.9%
R²
49%
α t-stat
1.05
Observations
94

Rolling 1y alpha

Trailing 52w mirror return − SPY return
-5%0%+5%avg -2.7%now -2.0%2026

Whether the headline alpha was earned recently or decades ago. Bands above the zero line are quarters where the mirror beat SPY 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$50$100$150$200MRK −$25NXT +$13ACHC −$11GS +$1020252026
Realized P&L
+$197.07
Closed trades
9,209
Win rate
26%
Avg return / closed
+5.2%

Biggest closed trades

IssuerEntryExitHeldReturnP&L
MERCK & CO INC
MRK
Q3 2024Q3 20254Q-25%−$251.77M
NEXTRACKER INC
NXT
Q3 2024Q1 20266Q+220%+$136.17M
ACADIA HEALTHCARE COMPANY IN
ACHC
Q3 2024Q3 20254Q-72%−$115.38M
GOLDMAN SACHS GROUP INC
GS
Q3 2024Q1 20252Q+34%+$100.78M
BOOKING HOLDINGS INC
BKNG
Q3 2024Q3 20254Q+55%+$97.07M
BRIDGEBIO PHARMA INC
BBIO
Q3 2024Q4 20255Q+174%+$94.92M
SHOPIFY INC
SHOP
Q3 2024Q3 20254Q+102%+$90.21M
US FOODS HLDG CORP
USFD
Q3 2024Q1 20266Q+74%+$76.71M
LPL FINL HLDGS INC
LPLA
Q3 2024Q2 20253Q+76%+$76.17M
WINGSTOP INC
WING
Q3 2025Q2 20263Q-60%−$72.11M

Every trade · entry date × return

Bubble = position size at entry
-50%-25%0%+25%+50%+100%+200%+500%AXTI · +4802%SNDK · +3188%BE · +2167%20252026
PositiveNegativeStill open (marked to market)
Best closed pick
QUBT +1247%
Worst closed pick
FPAYQ -100%
Total trades
15,215
Open trades
6,006