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Royal Gold
RGLD

650 hedge funds and large institutions have $12.4B invested in Royal Gold in 2025 Q3 according to their latest regulatory filings, with 110 funds opening new positions, 225 increasing their positions, 211 reducing their positions, and 68 closing their positions.

New
Increased
Maintained
Reduced
Closed

62% more first-time investments, than exits

New positions opened: 110 | Existing positions closed: 68

33% more funds holding in top 10

Funds holding in top 10: 6 → 8 (+2)

21% more capital invested

Capital invested by funds: $10.2B → $12.4B (+$2.15B)

19% more call options, than puts

Call options by funds: $204M | Put options by funds: $171M

6.31% more ownership

Funds ownership: 87.52% → 93.83% (+6.3%)

6% more funds holding

Funds holding: 612 → 650 (+38)

7% more repeat investments, than reductions

Existing positions increased: 225 | Existing positions reduced: 211

Holders
650
Holders Change
+38
Holders Change %
+6.21%
% of All Funds
8.53%
Holding in Top 10
8
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+33.33%
% of All Funds
0.11%
New
110
Increased
225
Reduced
211
Closed
68
Calls
$204M
Puts
$171M
Net Calls
+$32.4M
Net Calls Change
+$28.2M

Top Buyers

1
VanEck Associates
VanEck Associates
New York
+$441M
2
Citadel Advisors
Citadel Advisors
Florida
+$86.7M
3
Millennium Management
Millennium Management
New York
+$84.2M
4
UBS Group
UBS Group
Switzerland
+$63.4M
5
Baird Financial Group
Baird Financial Group
Wisconsin
+$49.3M

Top Sellers

1
First Eagle Investment Management
First Eagle Investment Management
New York
-$190M
2
AQR Capital Management
AQR Capital Management
Connecticut
-$153M
3
Qube Research & Technologies (QRT)
Qube Research & Technologies (QRT)
United Kingdom
-$33.5M
4
DCM
Driehaus Capital Management
Illinois
-$20.4M
5
UBS AM
UBS AM
Illinois
-$20.2M
Name Holding Trade Value Shares
Change 		Change in
Stake
AWA
226
Aaron Wealth Advisors
Illinois
$2.12M +$160K +926 +10%
PCS
227
Private Client Services
Kentucky
$2.11M +$135K +780 +8%
PAM
228
Parvin Asset Management
South Dakota
$2.09M -$70.9K -410 -4%
TAM
229
Tocqueville Asset Management
New York
$2.07M – – –
AAM
230
Azzad Asset Management
Virginia
$2.06M +$1.78M +10,263 New
Commonwealth Equity Services
231
Commonwealth Equity Services
Massachusetts
$2.01M -$1.53M -8,869 -47%
HH
232
Hilltop Holdings
Texas
$1.99M -$13.3K -77 -0.8%
MWM
233
Moran Wealth Management
Florida
$1.94M +$266K +1,539 +19%
PA
234
Profund Advisors
Maryland
$1.93M +$464K +2,682 +39%
Pictet Asset Management
235
Pictet Asset Management
Switzerland
$1.91M -$148K -854 -8%
BFM
236
Boothbay Fund Management
New York
$1.88M +$1.41M +8,155 +676%
PNC Financial Services Group
237
PNC Financial Services Group
Pennsylvania
$1.81M +$155K +895 +11%
KCM
238
Knoll Capital Management
Florida
$1.81M – – –
ZIG
239
Zurich Insurance Group
Switzerland
$1.81M – – –
CAPTRUST Financial Advisors
240
CAPTRUST Financial Advisors
North Carolina
$1.8M -$497K -2,876 -24%
X
241
Xponance
Pennsylvania
$1.79M +$8.47K +49 +0.6%
DP
242
DDD Partners
Washington
$1.72M +$1.48M +8,556 New
LSA
243
Leonteq Securities AG
Switzerland
$1.69M +$331K +1,914 +29%
OTL
244
Oak Thistle LLC
New York
$1.69M +$1.06M +6,113 +264%
AWP
245
Atlas Wealth Partners
Pennsylvania
$1.68M -$7.78K -45 -0.5%
CIC
246
Chase Investment Counsel
Virginia
$1.66M +$1.43M +8,260 New
CVA
247
Central Valley Advisors
California
$1.63M +$92.7K +536 +7%
QT
248
Quantbot Technologies
New York
$1.62M +$1.4M +8,089 New
PL
249
Plancorp LLC
Missouri
$1.62M -$346 -2 -0%
FGP
250
Freestone Grove Partners
California
$1.61M +$306K +1,767 +28%
8 9
10
11 12

RGLD Hedge Fund Activity: Q3 2025 in Review

650 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Royal Gold (RGLD) for Q3 2025, worth a combined $12.4B — up 21% from $10.2B a quarter earlier.

Buyers outnumbered sellers: 110 funds opened new RGLD positions and 68 closed out — a net gain of 42 holders — while 225 added to existing stakes and 211 trimmed.

The largest buyer was VanEck Associates, adding an estimated $441M. The largest seller was First Eagle Investment Management, cutting an estimated $190M.

  • 650 institutional investors held Royal Gold (RGLD) as of Q3 2025, up from 612 in Q2 2025.
  • Funds reported $12.4B of Royal Gold stock for Q3 2025, up 21% quarter-over-quarter.
  • 110 funds opened new Royal Gold positions in Q3 2025 and 68 closed out, a net change of +42 holders.
  • The largest Royal Gold buyer in Q3 2025 was VanEck Associates, an estimated $441M added.
  • The largest Royal Gold seller in Q3 2025 was First Eagle Investment Management, an estimated $190M sold.

Based on aggregated 13F filings for Q3 2025.