Hedge Funds case studies, worked step by step

Cases
100
Traced to a firm
31
Topics
13
Hard
30
Topic
All topicsCredit, distressed and capital structure7Earnings, models and KPIs8Event-driven and merger arbitrage7Fund economics, NAV and LP decisions8Global macro trades7Long pitches and valuation14Manager evaluation and attribution7Pairs and relative value5Portfolio construction and sizing7Risk limits and drawdowns7Short selling6Systematic research and data11Volatility, options and convertibles6
Level
AnyWarm upCoreHard
Source
AnyReported at a firmStandard
Showing 21–30 of 31 · filtered from 100Clear filters
  1. 070In quick delivery, Swiftora's share is heading from 45% to 55% with contribution margin up 3 points, while Kartlo's falls from 30% to 20% with margin down 5 points. Build the long Swiftora, short Kartlo pair: sizing, what it earns if the thesis plays out, and what happens if the whole sector falls 20%.Pairs and relative valueHardCoatue ManagementNew York · 2014
  2. 073How would you make money from social media data on Fizzora Beverages? You have three years of daily brand mentions and sentiment, and quarterly sales. Design the signal, the test and the trade, and say how you would know it is not noise.Systematic research and dataCoreTwo SigmaNew York · 2024Two SigmaNew York · 2024
  3. 075You receive the Project Tamarind dataset of 30 anonymised columns and a target of next-day returns, to be tested on data you cannot see. Column 17 correlates 0.35 with the target in-sample. What do you suspect, how do you check it, and how do you build a model that survives the hidden test?Systematic research and dataHardPoint72new york · 2026Point72new york · 2026
  4. 077Build a three-line revenue model for Drovi Quick Commerce: 8 lakh orders a day, an average order value of Rs 450 and a take rate of 18%. What are annual GMV and net revenue, and which input moves revenue most for a 10% change?Earnings, models and KPIsWarm upBalyasny Asset ManagementNew York · 2026
  5. 079Kairav Capital, with AUM of Rs 60,000 crore, pays a fund administrator 3 basis points a year for middle-office work. Building it in-house would cost Rs 12 crore a year plus Rs 15 crore to set up. Using the data, write the recommendation: in-source or not, and at what AUM does the answer flip?Fund economics, NAV and LP decisionsWarm upD.E. ShawNew York · 2025
  6. 080Tanvik Beverages wants to enter a new state with 5 crore people, where per-capita soft drink spending is Rs 600 a year. It targets a 6% share in three years at a 20% EBITDA margin, with Rs 150 crore of set-up cost. Size the market, the revenue and the payback.Global macro tradesCoreBridgewater AssociatesStamford · 2026
  7. 081Tessaro Hospitals runs 3,000 beds at 62% occupancy and earns an average of Rs 50,000 per occupied bed-day. Your structured idea is that occupancy rises to 72% in two years as new wings mature, with 50% of incremental revenue flowing to EBITDA. Set out the thesis, the catalyst, the numbers and the main risk.Long pitches and valuationCorePoint72London · 2026
  8. 094Dhanvi Diagnostics grew revenue 30% a year for three years: 12 points organic and 18 points from acquisitions bought at 12x EBITDA with debt, while the stock trades at 25x. How much of shareholders' return came from M&A rather than the core business, and how would you judge the quality of that growth?Manager evaluation and attributionHardViking Global InvestorsNew York · 2025
  9. 095Zorvek Defence has no listed peer. Its returns regress on the market with a beta of 0.9 and on a capital goods basket with a beta of 0.6, with an R-squared of 45%. You are long Rs 20 crore. How do you hedge it, and how much risk is left?Portfolio construction and sizingHardBalyasny Asset ManagementNew York · 2026
  10. 099Varuni Retail earns a 25% ROIC, reinvests 60% of earnings and trades at 40x. Ostrel Metals earns an 8% ROIC, pays out everything and trades at 8x. Over ten years both multiples converge to 15x. Which stock returns more, and how sensitive is the answer to the exit multiple?Long pitches and valuationHardCoatue ManagementNew York · 2023

Company names and figures are illustrative.