Greenlight Capital's Thoughts on Core Natural Resources (CNR)

Greenlight Capital, an investment management company, released its fourth-quarter 2025 investor letter. A copy of the letter can be downloaded here. Greenlight Capital’s investment strategy focuses on constructing a bottom-up portfolio comprising undervalued long positions and overvalued short positions, while also including a macro book to hedge risks and capture insights. The Partnership returned 9.0% (net) in 2025 compared to 17.9% for the S&P 500 index. In contrast, it returned 8.5% in Q4, compared to 2.7% for the index. The Partnership has returned $6.1 billion, net of fees and expenses, to its investors since its inception in May 1996.  For more information on the Partnership’s top picks in 2025, please check its top five holdings.

In its fourth-quarter 2025 investor letter, Greenlight Capital highlighted stocks such as Core Natural Resources, Inc. (NYSE:CNR). Core Natural Resources, Inc. (NYSE:CNR) was formed by merging Arch Resources and CONSOL Energy in January 2025. Core Natural Resources, Inc. (NYSE:CNR) is a US-based company involved in the production, distribution, and export of metallurgical and thermal coals. The one-month return of Core Natural Resources, Inc. (NYSE:CNR) was 6.64%, and its shares gained 6.11% of their value over the last 52 weeks. On January 29, 2026, Core Natural Resources, Inc. (NYSE:CNR) stock closed at $95.86 per share with a market capitalization of $4.934 billion.

Greenlight Capital stated the following regarding Core Natural Resources, Inc. (NYSE:CNR) in its fourth quarter 2025 investor letter:

"On the other hand, we are neither bullish nor bearish on coal prices. We own Core Natural Resources, Inc. (NYSE:CNR) because we believe that coal stocks in general are hated, and we believe we own a superior asset, at a very attractive valuation, run by capable operators. Of course, we are subject to commodity price fluctuations and mine operations, neither of which went our way this year. Coal prices fell and one of CNR’s mines had a fire."

Core Natural Resources, Inc. (NYSE:CNR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 44 hedge fund portfolios held Core Natural Resources, Inc. (NYSE:CNR) at the end of the third quarter, compared to 45 in the previous quarter. While we acknowledge the potential of Core Natural Resources, Inc. (NYSE:CNR) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

In addition, please check out our hedge fund investor letters Q4 2025 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.