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.
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
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
VanEck Associates
New York
|
+$441M |
| 2 |
Citadel Advisors
Miami,
Florida
|
+$86.7M |
| 3 |
Millennium Management
New York
|
+$84.2M |
| 4 |
UBS Group
Zurich,
Switzerland
|
+$63.4M |
| 5 |
Baird Financial Group
Milwaukee,
Wisconsin
|
+$49.3M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
First Eagle Investment Management
New York
|
-$190M |
| 2 |
AQR Capital Management
Greenwich,
Connecticut
|
-$153M |
| 3 |
Qube Research & Technologies (QRT)
London,
United Kingdom
|
-$33.5M |
| 4 |
DCM
Driehaus Capital Management
Chicago,
Illinois
|
-$20.4M |
| 5 |
UBS AM
Chicago,
Illinois
|
-$20.2M |
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.