Black Bear Value Partners’ Q3 2021 Investor Letter

Black Bear Value Partners, an investment management firm, published its third-quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly portfolio net return of -3.7% was recorded by the fund for the third quarter of 2021, trailing the S&P 500 Index, and the HFRI Index that delivered a +0.8% and -0.3% return respectively for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.