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Equity Research Database
Institutional Investment Pitches
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
Black Bear Value Partners returned -1.0% in Q3 2025 and -12.7% year-to-date, underperforming the S&P 500 which gained 8.1% in the quarter. The fund's underperformance...
— Adam Schwartz
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Other investors who've written on Warrior Met Coal Inc
The manager chose to exit Warrior Met Coal due to its 99% export-reliant revenue model, which is highly vulnerable to Chinese retaliatory trade tariffs. Although it has...
Warrior Met Coal fits the fund's investment thesis of targeting low-cost, debt-free metallurgical coal operators. These businesses enjoy...
HCC declined approximately 13% during the second quarter and is down roughly 8% year-to-date.