Black Bear Value Fund February 2024 Update

HFA Padded
HFA Staff
Published on

Black Bear Value Fund’s performance update for the month ended February 29, 2024.

Dear Partners and Friends,

  • Black Bear Value Fund returned -0.8%, net, in February.
  • The HFRI Value Index returned +2.6% in February.
  • The S&P 500 returned +5.3% in February.

Please note returns could vary depending on your time of investment.

Black Bear Value Fund February 2024

We have concentrated investments that will not move in tandem with the broader markets. Our businesses are extremely cheap with quality capital allocators at the helm and healthy balance sheets. Broader markets seem to be ignoring many medium/longer-term risks when it would seem caution is more appropriate. This will serve to benefit us in coming months and years.

We have had a number of LP’s add to their investment for March with more joining in April. We own some smaller-capitalization companies (and buying them takes time). If you plan on adding to the Fund please give me a heads-up so I can plan appropriately.

Thank you for your trust and support,


Tear Sheet: Link to tear sheet

HFA Padded

The post above is drafted by the collaboration of the Hedge Fund Alpha Team.