Michigan, US, 10th October 2025, ZEX PR WIRE, BlackBird Financial LP, the New Jersey–based investment partnership founded and led  by Chief Investment Officer Judah Spinner, has spotlighted four cornerstone  investments, Alibaba, Caesars Entertainment, Builders FirstSource, and Dollar General,  as emblematic of its disciplined, Graham-and-Dodd-inspired philosophy. Each position  reflects the firm’s focus on structurally advantaged businesses purchased at prices well  below intrinsic value. 

Alibaba: Global Scale, Local Mispricing 

BlackBird’s stake in Alibaba Group Holding Limited (NYSE: BABA) highlights its  conviction in undervalued global leaders. Despite generating over $1.3 trillion in gross  merchandise value in fiscal 2025 and holding nearly $70 billion in net cash, Alibaba  trades at a market cap below $300 billion. Once adjusted for its Ant Group stake and  other assets, the market effectively values Taobao and Tmall at under $100 billion. 

“In our view, Alibaba is extraordinarily cheap,” Spinner said. “These platforms are the  largest retail ecosystems in the world, supported by logistics and fintech infrastructure  that competitors cannot replicate. For long-term investors, this represents a remarkable  discount.” 

Alibaba’s cloud computing arm, AliCloud, grew revenue 26% year-over-year and is  investing tens of billions of dollars in AI and infrastructure, positioning it for head-to head competition with global hyperscalers. 

Caesars Entertainment: Free Cash Flow Catalyst 

BlackBird also disclosed a significant minority position in Caesars Entertainment Inc.  (NASDAQ: CZR), one of the nation’s premier gaming and hospitality companies.  Following a multiyear capital expenditure cycle, Caesars now benefits from sharply 

reduced investment needs, freeing up cash flow for debt repayment and shareholder  returns. 

“Caesars is at the start of a powerful free cash flow cycle,” Spinner explained. “The  company has already cut costs, improved operations, and with a market cap of just $5 billion, it is deeply undervalued.” 

Judah Spinner praised CEO Tom Reeg’s leadership through the Eldorado merger and ongoing  deleveraging initiatives. “He’s exactly the kind of CEO we want to back,” Spinner said. 

Builders FirstSource: Consolidation and Capital Discipline 

BlackBird’s position in Builders FirstSource (NYSE: BLDR) reflects its view on the long term power of industry consolidation. Following its 2021 merger with BMC Holdings and  over 30 subsequent acquisitions, Builders FirstSource has created a coast-to-coast platform focusing on higher-margin, value-added components like trusses and wall  panels. 

“Builders FirstSource is playing the hand perfectly,” Spinner said. “They’ve consolidated  the industry, shifted to higher-margin products, and repurchased nearly half their  outstanding shares over the past five years. That is exactly the kind of disciplined  execution we look for.” 

With 550 locations in 40 states, the company’s scale, efficiency, and shareholder friendly management have positioned it for continued growth throughout the cycle. 

Dollar General: Rural Dominance and Leadership Renewal 

Most recently, BlackBird announced a significant position in Dollar General Corporation  (NYSE: DG), the unrivaled leader in small-town retail. With nearly 20,000 stores, over  80% located in communities of 20,000 people or fewer, Dollar General has built a moat  around rural markets that competitors, including Walmart, failed to penetrate.

“Dollar General dominates rural markets in a way no one else can match,” Spinner said.  “They’ve perfected profitable small-box retail in towns where rivals cannot operate  efficiently. That’s a classic BlackBird investment.” 

Under returning CEO Todd Vasos, the company has accelerated store renovations,  tightened execution, and improved margins. BlackBird views these initiatives as  reinforcing Dollar General’s leadership and long-term growth trajectory. “This is a  business that knows exactly what it does best and is doubling down on it,” Spinner  added. 

A Philosophy of Discipline and Patience 

Taken together, BlackBird’s positions in Alibaba, Caesars, Builders FirstSource, and  Dollar General illustrate Spinner’s consistent framework: seek businesses that possess a durable competitive advantage, have a proven management team, and are available  at a steep discount to intrinsic value. 

“We’re not guessing where stocks will trade next week or month,” Spinner said. “We’re  focused on buying businesses that we want to own for years, at prices that give us both  safety and upside. That’s why our portfolio is concentrated and we act only when  conviction is high.” 

About BlackBird Financial LP 

BlackBird Financial LP, founded by Judah Spinner, is a value-oriented investment firm  based in Toms River, New Jersey. The firm concentrates capital in structurally  advantaged businesses trading well below intrinsic value. In the first half of 2025,  BlackBird delivered a 34.4% net return, significantly outpacing the S&P 500’s 6.1%  return. 

To learn more visit: https://judahspinner.com/