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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.
We are invested in a handful of metallurgical coal businesses, all but one based in the U.S. We seek to invest in coal businesses that are highly cash generative, debt free, and returning cash to shareholders via buybacks (at low multiples) and/or dividends. We look for...
— Mohnish Pabrai
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Other investors who've written on Warrior Met Coal, Inc.
Warrior Met Coal is a pure-play mining company that extracts premium metallurgical coal from underground mines in Alabama for export to global blast-furnace steel manufacturers. Black Bear holds...
Warrior Met Coal is a United States mining company dedicated to extracting high-grade metallurgical coal, which serves as a vital non-energy input in global blast-furnace steel manufacturing, accounting for 8.0% of the portfolio. The manager takes...
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...
More institutional theses from Pabrai Wagons Fund
Reysas REIT is a prominent Turkish industrial real estate owner and logistics provider that controls over 12 million square feet of prime Grade A warehouse space, representing the fund's largest position at 15.7% of assets. The manager maintains...
Valaris is a leading global offshore drilling contractor with a modern fleet of ultra-deepwater drillships and versatile jackup rigs, representing 4.4% of the fund's holdings. The manager expresses...
Odfjell Drilling ($ODFL.OL) represents 4.5% of the fund's portfolio.