The Tilson Mutual Funds is saying goodbye to one of its own. That’s because the firm is liquidating the Tilson Focus Fund, which bets on undervalued companies.

The fund, which launched on March 2005, managed just over $6 million as of May 20, according to Bloomberg. Glenn Tongue managed the fund and also serves as a general partner of the fund’s advisor, New York-based T2 Partners Management.

“The Board of Trustees of the Trust, in consultation with the Fund’s investment advisor, T2 Partners Management, determined at a meeting held on May 20 to discontinue the Fund’s operations based on, among other factors, the advisor’s belief that it would be in the best interests of the fund and its shareholders to discontinue the Fund’s operations,” according to a firm filing statement.

The fund will liquidate on June 21.

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