But the tide may be turning for coal investments, with the aggregate market value of the top 25 Form 13F-filing institutional owners of US publicly traded coal companies rising by almost 14% for the year to March 31.
Of the institutions that filed a Form 13F to the US Securities and Exchange Commission for the period ended March 31, Vanguard Group had the largest stock investment in US publicly traded coal companies by market value, with eight positions worth almost $US1.19 billion ($A1.27 billion).
Compared to March 31, 2013, Vanguard had the same number of positions but the market value of its investment increased 3.25%.
Looking at a five-year comparison, Vanguard had one fewer investment position than it did at the end of the first quarter of 2009 but its total investment was worth 63.99% more – a gain of more than $463.4 million.
T Rowe Price Associates had the second-largest investment in US publicly traded coal companies by market value at the end of the first quarter of 2014, with five positions valued at almost $1.16 billion.
The firm decreased the number of investment positions since March 31, 2013 to five from seven, while the market value of its holdings increased by 36.88%.
Compared to the end of the first quarter of 2009, T Rowe Price had the same number of positions but those holdings increased in market value 97.44%, or almost $570.8 million.
Vanguard maintained its first-place position by investment market value at March 31, 2013 and March 31, 2014 but was ranked fifth at March 31, 2009.
Meanwhile, T Rowe Price moved up a notch to second place from third between March 31, 2013 and March 31, 2014, unseating BlackRock Fund Advisors, which was ranked fourth with holdings valued at $871.5 million at the end of the first quarter of 2014.
The firm in the number one position five years ago was BlackRock Advisors, with roughly $745.1 million in market value for its six positions.
BlackRock Advisors is now ranked no. 33 with $97.5 million in 10 investment positions.
Of the 25 largest holders by market value, the institutional owner with the largest percentage increase in market value of its holdings between first quarter-end 2013 and 2014 was Manning & Napier Advisors, with a gain of 1865.81% to $185.8 million in two positions from $9.5 million in one.
Manning & Napier also had the largest rank change, moving up 203 places to 17 from 220.
