Black Bear Value Fund's performance update for the month ended April 30, 2022.
Dear Partners and Friends,
- Black Bear Value Fund, LP (the “Fund”) returned +2.2%, net, in April and +4.1% for 2022.
- The HFRI April returns are not available as of today but were -2.6% through March.
- The S&P 500 returned -8.7% in April and is -12.9% for 2022.
Q1 2022 hedge fund letters, conferences and more
Black Bear Value Fund's Performace Update
Our portfolio benefitted from our shorts in credit and equities. This has allowed us to operate from a position of strength and add additional exposure to businesses we like at increasingly attractive prices. Volatility in the market is our friend. There are businesses I have been looking at for months...

