Black Bear Value Partners
Black Bear VP
Mar 2025 → Sep 2025
Our archive holds 3 letters from this strategy, behind 3 investment theses and positions in 3 companies. Every quote below is copied verbatim from the letter it came from.
3 letters in a year — follow all of Black Bear Value Partners for every strategy.
Its investment theses
- Warrior Met CoalSep 2025Warrior Met Coal is poised for significant free cash flow growth post-2025, driven by the completion of its Blue Creek mine project and strong existing asset performance.
- Flagstar FinancialSep 2025Flagstar Financial is a well-capitalized regional bank under a strong new management team, addressing past balance sheet issues and poised for significant growth while trading at a conservative valuation.
- Core Natural ResourcesMar 2025Core Natural Resources (CNR) is a leading metallurgical and thermal coal producer benefiting from rising demand in Asia and a strong balance sheet, despite facing challenges from exports and ESG concerns.