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Right Tail Capital’s Investment Thesis for Natural Resource Partners L.P. (NRP)

Right Tail Capital, an investment management company, published its Q1 2026 investor letter. A copy of the letter can be downloaded here. The current market is volatile due to uncertainties from artificial intelligence implications across industries, geopolitical tensions, including the US-Iran conflict, and other macro developments. In this environment, the firm seeks businesses with resilient economics and strong management. The firm believes this period offers opportunities for patient investors to acquire robust companies at attractive prices, emphasizing that the market will...