Natural Resource Partners
60 hedge funds and large institutions have $426M invested in Natural Resource Partners in 2025 Q1 according to their latest regulatory filings, with 4 funds opening new positions, 22 increasing their positions, 14 reducing their positions, and 11 closing their positions.
57% more repeat investments, than reductions
Existing positions increased: 22 | Existing positions reduced: 14
25% more funds holding in top 10
Funds holding in top 10: 4 → 5 (+1)
0.27% less ownership
Funds ownership: 31.48% → 31.21% (-0.27%)
7% less capital invested
Capital invested by funds: $456M → $426M (-$29.9M)
12% less funds holding
Funds holding: 68 → 60 (-8)
43% less call options, than puts
Call options by funds: $7.97M | Put options by funds: $14.1M
64% less first-time investments, than exits
New positions opened: 4 | Existing positions closed: 11
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
P3I
Progeny 3 Inc
Kirkland,
Washington
|
+$15.5M |
| 2 |
SW
Solidarity Wealth
Lehi,
Utah
|
+$7.63M |
| 3 |
Citadel Advisors
Miami,
Florida
|
+$2.59M |
| 4 |
IG
ING Group
Amsterdam,
Netherlands
|
+$1.57M |
| 5 |
MLIM
Mountain Lake Investment Management
Boca Raton,
Florida
|
+$1.16M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
JP Morgan Chase
New York
|
-$11.3M |
| 2 |
Morgan Stanley
New York
|
-$10.5M |
| 3 |
Citigroup
New York
|
-$3.04M |
| 4 |
UBS Group
Zurich,
Switzerland
|
-$1.18M |
| 5 |
Goldman Sachs
New York
|
-$984K |
NRP Hedge Fund Activity: Q1 2025 in Review
60 of the 7,458 institutional investors tracked by Wall St. Rank reported a position in Natural Resource Partners (NRP) for Q1 2025, worth a combined $426M — down 6.6% from $456M a quarter earlier.
Sellers outnumbered buyers: 11 funds closed out of NRP and 4 opened new positions — a net loss of 7 holders — while 14 trimmed existing stakes and 22 added.
The largest buyer was Progeny 3 Inc, adding an estimated $15.5M. The largest seller was JP Morgan Chase, cutting an estimated $11.3M.
- 60 institutional investors held Natural Resource Partners (NRP) as of Q1 2025, down from 68 in Q4 2024.
- Funds reported $426M of Natural Resource Partners stock for Q1 2025, down 6.6% quarter-over-quarter.
- 4 funds opened new Natural Resource Partners positions in Q1 2025 and 11 closed out, a net change of -7 holders.
- The largest Natural Resource Partners buyer in Q1 2025 was Progeny 3 Inc, an estimated $15.5M added.
- The largest Natural Resource Partners seller in Q1 2025 was JP Morgan Chase, an estimated $11.3M sold.
Based on aggregated 13F filings for Q1 2025.