Heading 1

Heading 2

Heading 3

Heading 4

Heading 5

Heading 6

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur.

Block quote

Ordered list

Item 1
Item 2
Item 3

Unordered list

Item A
Item B
Item C

Text link

Bold text

Emphasis

^Superscript

_Subscript

June 10, 2026

Perfect 10 Investor Letter for May

May performance -3.04%, net return since inception +4.76%

Digest

Key points for May

The Fund returned -3.04% in May.
The closed Strait of Hormuz and declining inventories remain key risks for the oil market.
The Fund is positioned across energy, rates, and tactical opportunities in China and metals.

See the investor letter for more details.

Open