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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
PAMP
251
Polar Asset Management Partners
Ontario, Canada
$1.61M +$1.39M +8,012 New
LCM
252
Leisure Capital Management
California
$1.6M +$17.6K +102 +1%
HI
253
Horizon Investments
North Carolina
$1.56M -$1.66M -9,574 -55%
ASN
254
Advisory Services Network
Georgia
$1.53M -$52.8K -305 -4%
MFG
255
Merit Financial Group
Georgia
$1.5M -$669K -3,868 -34%
ADBIC
256
A.D. Beadell Investment Counsel
Wisconsin
$1.46M +$18.9K +109 +2%
Focus Partners Wealth
257
Focus Partners Wealth
Massachusetts
$1.46M -$707K -4,085 -36%
CCM
258
Chilton Capital Management
Texas
$1.43M – – –
Mercer Global Advisors
259
Mercer Global Advisors
Colorado
$1.42M -$462K -2,674 -27%
HSBC Holdings
260
HSBC Holdings
United Kingdom
$1.42M -$4.2M -24,264 -77%
SOADOR
261
State of Alaska Department of Revenue
Alaska
$1.41M -$63.3K -366 -5%
GP
262
Greenline Partners
New York
$1.38M +$46K +266 +4%
EA
263
Ellsworth Advisors
Ohio
$1.36M +$100K +578 +9%
ACM
264
Aubrey Capital Management
United Kingdom
$1.34M +$408K +2,360 +54%
VF
265
Virtu Financial
New York
$1.34M +$1.15M +6,666 New
FDP
266
Financiere des Professionnels
Quebec, Canada
$1.34M +$845K +4,885 +276%
PI
267
PFG Investments
New York
$1.3M +$88.2K +510 +9%
A
268
AlphaQuest
New York
$1.3M +$510K +2,951 +84%
Public Employees Retirement Association of Colorado
269
Public Employees Retirement Association of Colorado
Colorado
$1.29M – – –
RA
270
Royce & Associates
New York
$1.27M – – –
Daiwa Securities Group
271
Daiwa Securities Group
Japan
$1.26M +$1.09M +6,300 New
Truist Financial
272
Truist Financial
North Carolina
$1.25M -$87.9K -508 -8%
FPAS
273
Focus Partners Advisor Solutions
Missouri
$1.2M -$348K -2,013 -24%
LCM
274
Laurion Capital Management
New York
$1.19M +$1.03M +5,941 New
Federated Hermes
275
Federated Hermes
Pennsylvania
$1.18M -$46.7K -270 -4%
9 10
11
12 13

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.