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.
The fund achieved a 28.89% NAV return in the second quarter of 2026, heavily driven by exposure to technology and semiconductor equipment convertibles amidst historic market issuance. While monitoring macroeconomic risks and upcoming election volatility, management remains constructive on credit and deployed 29% leverage to support its 9.08% annualized distribution rate.
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The fund achieved a 28.89% NAV return in the second quarter of 2026, heavily driven by exposure to technology and semiconductor equipment convertibles amidst historic market issuance. While monitoring macroeconomic risks and upcoming election volatility, management remains constructive on credit and deployed 29% leverage to support its 9.08% annualized distribution rate.
The Angel Oak High Yield Opportunities ETF returned 1.09% in Q4 2025, trailing its benchmark. The fund is emphasizing high-quality corporate bonds and trimming securitized credit due to historically tight credit spreads.
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The Angel Oak High Yield Opportunities ETF returned 1.09% in Q4 2025, trailing its benchmark. The fund is emphasizing high-quality corporate bonds and trimming securitized credit due to historically tight credit spreads.
The Lord Abbett Short Duration Income Fund returned 1.59% in 3Q25, outperforming its benchmark. To capitalize on spread compression, the fund rotated capital from corporate credit into higher-rated securitized assets like AAA CMBS and CLOs.
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The Lord Abbett Short Duration Income Fund returned 1.59% in 3Q25, outperforming its benchmark. To capitalize on spread compression, the fund rotated capital from corporate credit into higher-rated securitized assets like AAA CMBS and CLOs.
The PGIM Short Duration High Yield Income Fund is defensively positioned in short-duration bonds and high-quality carry like AAA CLOs, favoring selective overweights in Telecom and Home Construction to navigate historically tight spreads.
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The PGIM Short Duration High Yield Income Fund is defensively positioned in short-duration bonds and high-quality carry like AAA CLOs, favoring selective overweights in Telecom and Home Construction to navigate historically tight spreads.
The Angel Oak High Yield Opportunities ETF generated a 3.46% NAV return in Q2 2025, slightly underperforming its corporate benchmark. The managers are adopting a cautious posture due to tight credit valuations and potential tariff headwinds, leading them to trim securitized credit in favor of high-quality corporate issuers.
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The Angel Oak High Yield Opportunities ETF generated a 3.46% NAV return in Q2 2025, slightly underperforming its corporate benchmark. The managers are adopting a cautious posture due to tight credit valuations and potential tariff headwinds, leading them to trim securitized credit in favor of high-quality corporate issuers.
The PGIM Global Total Return Fund outperformed its benchmark in Q2 2025, driven by strong security selection in high yield and emerging markets. The manager maintains a constructive outlook on global bonds, favoring the belly of the U.S. yield curve and high-quality structured credit while navigating central bank policy divergence.
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The PGIM Global Total Return Fund outperformed its benchmark in Q2 2025, driven by strong security selection in high yield and emerging markets. The manager maintains a constructive outlook on global bonds, favoring the belly of the U.S. yield curve and high-quality structured credit while navigating central bank policy divergence.
