Schweser Alternative Investments – SAPP 2026

Overview

SchweserNotes for CFA Level 1 Alternative Investments, 2026 curriculum. Covers 7 modules arranged in SAPP study order.

Modules (SAPP Order)

Module	Title	Pages	LOS
M01	AI Features, Methods and Structures	p.2–29	1.a–1.c
M03	Investments in Private Capital: Equity and Debt	p.30–62	3.a–3.c
M04	Real Estate and Infrastructure	p.63–85	4.a–4.d
M05	Natural Resources	p.86–106	5.a–5.c
M06	Hedge Funds	p.107–134	6.a–6.c
M07	Introduction to Digital Assets	p.135–166	7.a–7.d
M02	AI Performance and Returns	p.167+	2.a–2.b

Notes

• Module 2 (Performance and Returns) is placed last in SAPP study order despite being numbered second in the CFA Institute curriculum.
• All page references are to the SchweserNotes 2026 edition.