Greystone Capital Management released its Q4 2025 investor letter, reporting a median account return of +0.3% for the quarter and +2.8% for the full year. The Fund has returned +197.7% since inception in Q4 2019. Results lagged behind major indices in 2025 due to poor stock selection and valuation compression.

In Q4 2025, Greystone Capital Management highlighted Natural Resource Partners L.P. (NYSE:NRP), a mineral properties management company. NRP saw a one-month return of 9.43% and a 52-week share gain of 8.33%. On Jan 28, 2026, NRP stock closed at $114.25 per share with a market cap of $1.501 billion.

NRP, a coal royalty business, delivered strong results in 2025 due to its debt-free, capital-return-focused model. Cash flows remained robust despite challenging coal pricing conditions. Global coal consumption hit record highs in 2025, hinting at favorable pricing changes ahead as demand outstrips supply.

Natural Resource Partners L.P. (NYSE:NRP) is not among the 30 most popular stocks held by hedge funds, with only 6 portfolios holding it in Q3 2025. While NRP shows investment potential, the firm believes certain AI stocks offer greater upside with less risk. Check out the top coal stocks and hedge fund investor letters for more insights.

Read more at Yahoo Finance: Is Natural Resource Partners (NRP) Trading at a Reasonable Valuation?