Browse the world's most comprehensive database of hedge fund investor letters, sorted by recent quarter. Access primary source research from leading institutional managers.
Browse the world's most comprehensive archive of hedge fund manager letters. Access primary source research from leading institutional managers, sorted by reporting period.
CDT delivered strong outperformance in 2025 with an 18.6% net return, successfully applying its dynamic macro reserve framework to profit from intra-year volatility while keeping 13.5% dry powder to protect against an elevated >28x market multiple.
Full Quick Take
CDT delivered strong outperformance in 2025 with an 18.6% net return, successfully applying its dynamic macro reserve framework to profit from intra-year volatility while keeping 13.5% dry powder to protect against an elevated >28x market multiple.
