Estimated return — disclosed long book
What Oakcliff Capital Partners LP’s US-listed long positions did, derived from the share counts and market values in consecutive 13F filings, shown against SPY over exactly the same quarters. This is not the fund’s return. A 13F excludes shorts, bonds, cash, non-US listings and derivatives, says nothing about fees or leverage, and only sees positions held at both quarter ends. The fund figure is a price return while SPY is a total return, so the comparison is tilted against the manager by roughly a dividend yield.
Q2 2026
+10.9%
SPY +15.1%▼ -4.3%
2026 YTD(2Q so far)
+4.8%
SPY +10.1%▼ -5.2%
By calendar year
| Year | Estimated | SPY | Difference |
|---|---|---|---|
| 2025 | -2.3% | +17.7% | -20.1% |
| 2024 | +35.0% | +24.9% | +10.1% |
| 2023 | +33.9% | +26.2% | +7.7% |
| 2022 | -21.8% | -18.2% | -3.7% |
| 2021 | -2.5% | +28.7% | -31.3% |
| 2020 | +66.6% | +18.3% | +48.3% |
| 2019 | +44.5% | +31.2% | +13.3% |
| 2018 | -10.6% | -4.6% | -6.1% |
| 20172/4 Q | +14.7% | +7.6% | +7.1% |
Years marked n/4 Qare built from fewer than four quarters, and the benchmark shown beside them covers the same partial set — so the difference is like-for-like, but the year is not a full year.