Black Bear Value Fund June 2023 Update

Black Bear Value Fund update for the month ended June 30, 2023.

Q2 2023 hedge fund letters, conferences and more

"One tequila, two tequila, three tequila, floor." - George Carlin

Dear Partners and Friends,

• Black Bear Value Fund returned +4.4%, net, in June and is +14.0%, net, YTD.
• The HFRI Value Index returned +3.3% in June and is +5.9% YTD.
• The S&P 500 returned +6.6% in June and is +16.9% YTD.

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

The bar is open and the party seems to be back in full swing. I am curious to see how increased...