How Builders FirstSource’s (BLDR) Value-Added Shift Protects Earnings Power?

Black Bear Value Partners, an investment advisory firm, issued its second-quarter 2026 investor letter. The letter can be downloaded here. The Black Bear Value Fund returned -10.3% in September, +2.5% for the quarter, and +4.1% year-to-date (YTD). In comparison, the S&P 500 saw a -0.4% return in September, +2.3% for the quarter, and +12.7% YTD. Despite […]