Black Bear Value Partners Q1 2026 - Top 5 Businesses We Own

Black Bear Value Partners80 FollowersFollow5ShareSavePlay(9min)CommentsSummaryOur long-term thesis on Builders FirstSource remains intact as there is a structural shortage of housing in the USA.As the landowners, Five Point Holdings stands to benefit from any positive shift in regulation/red tape.Flagstar Financial's turnaround is going well, and they recently reported their first profitable quarter since the new management team took over.

Ashi Sae Yang/iStock via Getty Images The following segment was excerpted from the Black Bear Value Partners Q1 2026 Letter. Top 5 Businesses We Own Builders FirstSource (BLDR) BLDR declined an additional 20% in the first quarter after a 28% declineThis article was written byBlack Bear Value Partners80 FollowersFollowBlack Bear Value Partners is an alternative asset management firm with a long-term, fundamental and value-oriented investment approach.

Black Bear Value Partners is managed by Adam Schwartz who has 20 years of buy-side investment experience in a variety of themes including equities, structured products, corporate credit and capital structure arbitrage. Note: This account is not managed or monitored by Black Bear Value Partners, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use Black Bear Value Partners' official channels.