Workflow
Black Bear Value Partners Q3 2025 Letter
Seeking Alpha·2025-10-09 14:00
Umnat Seebuaphan/iStock via Getty Images “May all your delulu come trululu.” – Gen-Alpha To My Partners and Friends:  Black Bear Value Fund, LP (the “Fund”) returned -7.1% in September, -1.0% in the quarter and -12.7% year-to-date. The S&P 500 returned +3.6% in September, +8.1% in the quarter and +14.8% year-to-date. The HFRI Index returned +1.3% in September, +5.9% in the quarter and +13.7% year-to-date. We do not seek to mimic the returns of the S&P 500, and there will be variances in our performance. ...