Annual Presentations

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2025 Annual Investment Performance Review

A year of exceptional performance driven by strategic positioning in Fannie Mae and Freddie Mac preferred shares, combined with a business-friendly administration catalyzing growth across AI, robotics, and energy sectors. December 31, 2025 DGA Capital Management LP

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2024 Annual Investment Performance Review

This presentation reviews our investment performance for the twelve months ended December 31, 2024, highlighting our strategic approach, key results, and future outlook.

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2023 DGA Capital Annual Letter

In 2023, our defensive fund delivered approximately 13% gross returns, while the aggressive fund achieved around 60%. These figures compare to the MSCI index, which posted a return of 23.8%.

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2022 Annual Investment Letter

2022 Performance Review. Twelve months ended December 31, 2022

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2021 Annual Letter

DGA Capital Management A comprehensive review of our defensive and aggressive portfolio performance, market outlook, and strategic positioning for the twelve months ended December 31, 2021.

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2020 Annual Letter

DGA Capital Management LP - Twelve Months Ended December 31, 2020 January 31, 2021

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2019 DGA Capital Annual Letter

A comprehensive review of our aggressive/defensive barbell strategy and the path forward for Government Sponsored Enterprises. Annual Report January 31, 2020

Annual Letters - Important Legal Disclaimer
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DGA Capital Management LP ("DGA") is an exempt reporting adviser under applicable federal and state securities laws, including exemptions under the Investment Advisers Act of 1940 and California regulations. DGA manages a private investment fund relying on the exemption under Section 3(c)(1) of the Investment Company Act of 1940, which is available only to a limited number of accredited investors. Participation in the fund is restricted to eligible investors who meet strict qualification criteria, and DGA does not engage in general solicitation or public advertising.
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