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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.
BLDR declined approximately 36% during the third quarter and was down roughly 45% year to date as housing weakness continued to pressure results. In the latest...
— Adam Schwartz
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Other investors who've written on Builders FirstSource, Inc.
Builders FirstSource is the largest specialized distributor of building materials, trusses, prefabricated components, and lumber to US home builders. The manager liquidated...
Builders FirstSource, Inc. ($BLDR) was completely liquidated during the quarter to reduce direct portfolio exposure to the housing market.
The manager views Builders FirstSource as a historical template of a successful investment in building products distribution after the 2009 housing collapse. Despite experiencing significant...
More institutional theses from Black Bear Value Partners
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...
Core Natural Resources is a primary global producer and exporter of metallurgical coal, an essential input in blast-furnace steel manufacturing, as well as thermal coal utilized for utility baseload electrical power generation. The manager holds...
PrairieSky Royalty is an oil and natural gas royalty company that owns extensive subsurface mineral fee title acreage across the Western Canadian Sedimentary Basin. Black Bear is...