Selected Quarterly & Annual Newsletters from Funds, Fund Newsletters

Fund Newsletters

Selected fund newsletters aggregated from public sources

Selected Quarterly & Annual Newsletters from Funds

Equity Bottom-Up

<ul><li>Summers Value Partners is a boutique value manager that uses a focused, long-term approach to investing in areas of the market where most managers are unwilling or unable to participate.</li><li>The Summers Value Fund LP (“the Fund”) returned -25.9% net in the first half of 2022.</li><li>The majority of our decline took place in the first quarter as we were too slow to react to the Fed’s decision to increase interest rates and shrink its balance sheet to cool the over-heated economy.</li><li>The next stage of the bear market will most likely involve lower corporate earnings due to a more challenging businessclimate and reducedaccess to capital.</li></ul>

Summers Value Partners is a boutique value manager that uses a focused, long-term approach to investing in areas of the market where most managers are unwilling or unable to participate.The Summers Value Fund LP (“the Fund”) returned -25.9% net in the first half of 2022.The majority of our decline took place in the first quarter as we were too slow to react to the Fed’s decision to increase interest rates and shrink its balance sheet to cool the over-heated economy.The next stage of the bear market will most likely involve lower corporate earnings due to a more challenging businessclimate and reducedaccess to capital.

Summers Value Partners Q2 2022 Investor Letter

iShares Micro-Cap ETF

Summers Value Partners Q2 2022 Investor Letter