JPMorgan Chase Reduces Stake in Natural Resource Partners

Institutional investor cuts ownership in energy company by over 22% in Q3 2025

Published on Mar. 3, 2026

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JPMorgan Chase & Co. reduced its position in Natural Resource Partners LP (NYSE:NRP) by 22.3% in the third quarter of 2025, according to a recent SEC filing. The institutional investor now owns 267,560 shares of the energy company's stock, valued at $28.09 million, down from 344,351 shares previously.

Why it matters

This move by one of the largest financial institutions in the world signals a shift in sentiment around Natural Resource Partners, a master limited partnership that manages mineral and royalty interests in the coal and natural resources sectors. The reduced stake could indicate broader market concerns about the long-term outlook for the coal industry and the company's growth prospects.

The details

According to the filing, JPMorgan Chase sold 76,791 shares of Natural Resource Partners in Q3 2025, reducing its total ownership to 2.06% of the company's outstanding stock. The energy firm, headquartered in Fairmont, West Virginia, generates revenue from owning interests in coal, oil, and other mineral production without directly operating the mines or wells.

  • JPMorgan Chase reduced its stake in Natural Resource Partners in the third quarter of 2025.
  • The filing with the SEC was made on March 1, 2026.

The players

JPMorgan Chase & Co.

One of the largest financial services companies in the world, with over $3.7 trillion in assets under management.

Natural Resource Partners LP

A master limited partnership that acquires and manages royalty and other mineral interests in coal, oil, and other natural resources across North America and Australia.

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The takeaway

The reduced stake by JPMorgan Chase in Natural Resource Partners reflects broader concerns about the long-term viability of the coal industry and the company's growth prospects. This move by a major institutional investor could signal a shift in sentiment around the energy firm and the challenges it may face in the years ahead.