GrizzlyRock Value Partners returned 12.8% net for the fourth quarter, capping its full-year return at -2.5% net for 2022. For 2022, the Russell 2000 plummeted by 20.4%.
In the fourth quarter, the fund's long holdings contributed 11.3% net to its return, while its short book added another 1.5% net. For all of 2022, GrizzlyRock Value's long portfolio detracted 20% net from its return, while its short book contributed 18.3% net.
Versus the Russell 2000, the fund generated long alpha of 0.3% and short alpha of 9.5% in 2022. The year marked GrizzlyRock's ninth straight year of positive short alpha. In fact, 2022 was the fund's most profitable shorting year thus far. Over its 11-year history, GrizzlyRock Value Partners has compounded at a...
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