Natural Resource Partners

NRP • NYSE

Natural Resource Partners is a coal company in the energy sector on NYSE, led by Corbin J. Robertson, Jr., with a market cap of $1.4B. As of Q3 2025, 34% of shares are held by 61 institutional investors, with MORGAN STANLEY as the largest holder at 6.7%.

Chairman and Chief Executive OfficerCorbin J. Robertson, Jr.

Market Cap$1.4B

Coal

Energy

Websitenrplp.com

Country

United States of America

Overview

Overview of institutional ownership in NRP as of Q3 2025 with a market cap of $1.4B

All Institutions

Institutions: 61
Value Held: $462.9M
Shares Held: 4.4M
Avg Position: $7.6M
Median Position: $840.0K

Hedge Funds

Hedge Funds: 7
Value Held: $33.8M
Shares Held: 321.7K
Avg Position: $4.8M
Median Position: $4.0M

Ownership Breakdown

Institutional (non-HF)

31.11%

$429.1M

Hedge Funds

2.45%

$33.8M

Retail & Other

66.45%

$916.6M

Based on market cap of $1.4B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in NRP as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$92.5M 0.01% of portfolio	6.70% 880.7K shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
GOLDMAN SACHS GROUP INC Institution	David M. Solomon CEO	$71.9M 0.01% of portfolio	5.21% 684.8K shares	Q3 2016 Held for 9y 2m	$691.34B
C CI Private Wealth, LLC RIA/Wealth	Kurt Macalpine CEO	$65.2M 0.10% of portfolio	4.73% 621.0K shares	Q2 2023 Held for 2y 5m	$63.4B
P Progeny 3, Inc. Institution	-	$32.8M 1.69% of portfolio	2.38% 312.5K shares	Q4 2024 Held for 11 months	$1.9B
JPMORGAN CHASE & CO Institution	Jamie Dimon CEO	$28.1M 0.00% of portfolio	2.04% 267.6K shares	Q1 2016 Held for 9y 8m	$1.56T
UBS Group AG Institution	Sergio P. Ermotti CEO	$22.6M 0.00% of portfolio	1.63% 214.8K shares	Q4 2014 Held for 10y 11m	$511.54B
Solidarilty Wealth, LLC RIA/Wealth	Jeffrey Mcclean CCO	$20.7M 4.45% of portfolio	1.50% 197.0K shares	Q2 2024 Held for 1y 5m	$464.8M
O Oakcliff Capital Partners, LP Hedge Fund•Value	Bryan Ross Lawrence Managing Partner	$17.8M 7.66% of portfolio	1.29% 169.1K shares	Q2 2024 Held for 1y 5m	$231.7M
I ING GROEP NV Institution	-	$17.1M 0.09% of portfolio	1.24% 162.4K shares	Q4 2022 Held for 2y 11m	$18.5B
EUBEL BRADY & SUTTMAN ASSET MANAGEMENT INC RIA/Wealth	Scott Edger Lundy CEO	$12.3M 1.54% of portfolio	0.89% 117.5K shares	Q1 2024 Held for 1y 8m	$803.1M

Net Capital Flow

Institutional buying and selling activity for NRP in Q3 2025

Traded: −$15.1M
Buyers: 32
Sellers: 22
Total Bought: +$15.5M
Total Sold: −$30.6M
Avg Position: $6.8M

Biggest Buyers

Institution	Net Bought	Current Position
I ING GROEP NV Institution	+$4.3M +40.7K shares	$17.1M 162.4K shares
O Oakcliff Capital Partners, LP Hedge Fund•Value	+$1.6M +15.1K shares	$17.8M 169.1K shares
UBS Group AG Institution	+$1.3M +12.1K shares	$22.6M 214.8K shares
Solidarilty Wealth, LLC RIA/Wealth	+$1.1M +10.7K shares	$20.7M 197.0K shares
M Meixler Investment Management, Ltd. RIA/Wealth	+$1.1M +10.5K shares	$8.2M 78.0K shares
P Progeny 3, Inc. Institution	+$1.0M +10.0K shares	$32.8M 312.5K shares
Mountain Lake Investment Management LLC Hedge Fund•Value	+$847.6K +8.1K shares	$4.8M 45.6K shares
HORIZON KINETICS ASSET MANAGEMENT LLC Long Only Manager	+$573.0K +5.5K shares	$2.6M 24.6K shares
J JANE STREET GROUP, LLC Institution	+$499.2K +4.8K shares	$1.7M 16.1K shares
E EXCHANGE TRADED CONCEPTS, LLC Institution	+$487.8K +4.6K shares	$1.2M 11.8K shares

Biggest Sellers

Institution	Net Sold	Current Position
JPMORGAN CHASE & CO Institution	−$8.1M −76.8K shares	$28.1M 267.6K shares
MORGAN STANLEY RIA/Wealth	−$6.8M −64.3K shares	$92.5M 880.7K shares
CITIGROUP INC Institution	−$5.0M −47.4K shares	$10.2M 97.4K shares
GOLDMAN SACHS GROUP INC Institution	−$4.7M −44.3K shares	$71.9M 684.8K shares
GOLDENTREE ASSET MANAGEMENT LP Hedge Fund•Distressed	−$1.9M −18.0K shares	$4.8M 45.8K shares
N NATIXIS Institution	−$1.1M −10.0K shares	$5.4M 51.3K shares
H HRT FINANCIAL LLC Institution	−$758.5K −7.2K shares	$1.1M 10.4K shares
Ballast Asset Management, LP Long Only Manager	−$600.6K −5.7K shares	$8.0M 75.9K shares
V Virtu Financial LLC Institution	−$367.4K −3.8K shares	Sold Off 0 shares
A ALPS ADVISORS INC ETF Provider	−$327.7K −3.4K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited NRP in Q3 2025

New Positions: 4
New Value: $591.4K
Exited Positions: 7
Exited Value: $1.1M

New Positions

Institution	Position Value
Integrated Wealth Concepts LLC RIA/Wealth	$333.6K 3.2K shares
X XTX Topco Ltd Institution	$218.4K 2.1K shares
SRS Capital Advisors, Inc. RIA/Wealth	$21.0K 200.0 shares
H HAZLETT, BURT & WATSON, INC. Institution	$18.4K 175.0 shares

Exited Positions

Institution	Previous Position
V Virtu Financial LLC Institution	$367.4K 3.8K shares
A ALPS ADVISORS INC ETF Provider	$327.7K 3.4K shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	$248.3K 2.6K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	$136.5K 1.4K shares
Ancora Advisors, LLC RIA/Wealth	$38.2K 400.0 shares
R Raleigh Capital Management Inc. RIA/Wealth	$18.9K 198.0 shares
B BlackRock, Inc. Institution	$9.6K 100.0 shares

Options Activity

Institutions with the largest Call and Put options positions in NRP as of Q3 2025

Call Positions: 3
Call Value: $8.4M
Put Positions: 4
Put Value: $7.4M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$5.8M 548.0 contracts
J JANE STREET GROUP, LLC Institution	$1.3M 128.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.3M 127.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$3.4M 320.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$3.2M 301.0 contracts
J JANE STREET GROUP, LLC Institution	$840.0K 80.0 contracts
W WOLVERINE TRADING, LLC Institution	- - contracts

Most Committed Institutions

Institutions with NRP as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
O Oakcliff Capital Partners, LP Hedge Fund•Value	Bryan Ross Lawrence Managing Partner	7.66% $17.8M	1.29% 169.1K shares	Q2 2024 Held for 1y 5m	$231.7M
M Meixler Investment Management, Ltd. RIA/Wealth	Michael Charles Meixler CCO	5.02% $8.2M	0.59% 78.0K shares	Q4 2022 Held for 2y 11m	$163.0M
Solidarilty Wealth, LLC RIA/Wealth	Jeffrey Mcclean CCO	4.45% $20.7M	1.50% 197.0K shares	Q2 2024 Held for 1y 5m	$464.8M
Ballast Asset Management, LP Long Only Manager	Ragen R Stienke Managing Partner	3.64% $8.0M	0.58% 75.9K shares	Q3 2023 Held for 2y 2m	$219.1M
Mountain Lake Investment Management LLC Hedge Fund•Value	Philip Charles Mittleman CEO	3.57% $4.8M	0.35% 45.6K shares	Q4 2024 Held for 11 months	$134.3M
P Progeny 3, Inc. Institution	-	1.69% $32.8M	2.38% 312.5K shares	Q4 2024 Held for 11 months	$1.9B
EUBEL BRADY & SUTTMAN ASSET MANAGEMENT INC RIA/Wealth	Scott Edger Lundy CEO	1.54% $12.3M	0.89% 117.5K shares	Q1 2024 Held for 1y 8m	$803.1M
R Rangeley Capital, LLC Hedge Fund•Event Driven	Christopher Clay Demuth Jr. Managing Partner	1.20% $1.3M	0.09% 12.1K shares	Q2 2025 Held for 5 months	$105.5M
Eschler Asset Management LLP Hedge Fund•Long/Short	John Pryce-Robertson Member	0.66% $840.0K	0.06% 8.0K shares	Q1 2025 Held for 8 months	$126.7M
M MAS Advisors LLC Insurance Manager	Francisco Jose Soler CIO	0.57% $362.1K	0.03% 3.4K shares	Q4 2022 Held for 2y 11m	$63.2M

Hedge Fund Spotlight

Discover hedge funds investing in NRP

Oakcliff Capital Partners, LP

Hedge Fund • Value

Portfolio ManagerBryan Ross Lawrence

Portfolio Value: $231.7M
Positions: 8
Last Reported: Q3 2025

Sector Allocation

Position in Natural Resource Partners

Market Value: $17.8M
Shares Held: 169.1K
Portfolio Weight: 7.66%
Owned Since: 2024-Q2

Top Holding	Sector	Market Value	Weight
1 Interactive Brokers Group, Inc. IBKR	Financial - Capital Markets Financial Services	$70.9M	30.61%
2 Gildan Activewear GIL	Apparel - Manufacturers Consumer Cyclical	$39.4M	17.01%
3 TransDigm Group TDG	Aerospace & Defense Industrials	$31.9M	13.75%