Estimated return — disclosed long book
What Arne Alsin’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
+8.6%
SPY +15.1%▼ -6.5%
2026 YTD(2Q so far)
-5.1%
SPY +10.1%▼ -15.2%
By calendar year
| Year | Estimated | SPY | Difference |
|---|---|---|---|
| 2025 | +25.5% | +17.7% | +7.8% |
| 2024 | +71.6% | +24.9% | +46.7% |
| 2023 | +103.4% | +26.2% | +77.2% |
| 2022 | -84.1% | -18.2% | -66.0% |
| 2021 | +13.3% | +28.7% | -15.4% |
| 20203/4 Q | +117.7% | +8.5% | +109.1% |
| 2019 | +54.7% | +31.2% | +23.5% |
| 2018 | +11.3% | -4.6% | +15.8% |
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.