Does Core Natural Resources (CNR) Offer an Asymmetric Opportunity?
Black Bear Value Partners, an investment advisory firm, issued its second-quarter 2026 investor letter. A copy of the letter can be downloaded here.
| No. | Hedge Fund | Shares | Value | Activity | % Port |
|---|---|---|---|---|---|
| 1. | Skylands Capital Charles Paquelet | 226,302 | $18,108,686 | +6% | 2.22% |
| 2. | Hourglass Capital Kenneth A. Moffet | 156,451 | $12,519,209 | +26% | 2.46% |
| 3. | Walleye Capital Will England | 137,372 | $10,992,507 | -25% | 0.04% |
| 4. | Hosking Partners Jeremy Hosking | 66,903 | $5,353,578 | -3% | 0.18% |
| 5. | Sprott Asset Management Eric Sprott | 5,255 | $420,509 | 0.01% |
| Insider | Price | Amount | Total Value | Remaining Holdings | Date | Form 4 |
|---|---|---|---|---|---|---|
| $66.95 | 7,500 | $502,125.00 | 341,062 | 2025-05-09 | Filing | |
| $6.46 | 4,000 | $25,840.00 | 46,057 | 2020-02-19 | Filing | |
| $12.55 | 4,000 | $50,200.00 | 42,057 | 2019-11-12 | Filing | |
| $33.01 | 610 | $20,134.88 | 15,214 | 2018-02-21 | Filing | |
| $24.16 | 4,000 | $96,640.00 | 32,398 | 2017-12-08 | Filing |
| Insider | Price | Amount | Total Value | Remaining Holdings | Date | Form 4 |
|---|---|---|---|---|---|---|
| $110.62 | 5,000 | $553,100.00 | 53,679 | 2026-03-19 | Filing | |
| $105.00 | 10,000 | $1,050,000.00 | 58,679 | 2026-03-19 | Filing | |
| $101.15 | 40,760 | $4,122,874.00 | 100,000 | 2026-03-18 | Filing | |
| $97.66 | 1,000 | $97,660.00 | 5,190 | 2026-03-17 | Filing | |
| $91.62 | 3,800 | $348,156.00 | 6,190 | 2026-03-10 | Filing |
| No. | Name | Shares | Value | % Port |
|---|---|---|---|---|
| 1. | 1,100,977 | $88,100,180 | 5.07% | |
| 2. | 325,811 | $26,071,415 | 0% | |
| 3. | 267,489 | $21,404,459 | 0.01% | |
| 4. | 244,695 | $19,580,493 | 0.01% | |
| 5. | 231,877 | $18,554,798 | 0.01% |