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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
MSRPS
326
Maryland State Retirement & Pension System
Maryland
$657K +$35.5K +205 +7%
Jones Financial Companies
327
Jones Financial Companies
Missouri
$650K +$140K +808 +32%
EFG
328
Everhart Financial Group
Ohio
$640K +$37.2K +215 +7%
MIM
329
MTM Investment Management
South Carolina
$636K +$519 +3 +0.1%
US Bancorp
330
US Bancorp
Minnesota
$633K -$69.5K -402 -11%
PCIA
331
Prime Capital Investment Advisors
Kansas
$626K +$5.54K +32 +1%
LFAS
332
Level Four Advisory Services
Texas
$620K – – –
SLAM
333
Swiss Life Asset Management
$617K +$237K +1,369 +80%
LAM
334
L2 Asset Management
Massachusetts
$616K +$223K +1,288 +72%
PCM
335
Prelude Capital Management
New York
$615K -$77K -445 -13%
MIM
336
Meixler Investment Management
Arizona
$603K +$520K +3,007 New
AGP
337
Autumn Glory Partners
Texas
$602K -$51.9K -300 -9%
RWB
338
RMR Wealth Builders
New Jersey
$600K +$1.56K +9 +0.3%
OR
339
Olympiad Research
Connecticut
$595K +$209K +1,211 +69%
VCA
340
Verdence Capital Advisors
Maryland
$592K +$38.4K +222 +7%
AWM
341
Apollon Wealth Management
South Carolina
$589K +$14.9K +86 +3%
UWPG
342
Ullmann Wealth Partners Group
Florida
$586K -$173 -1 -0%
GEM
343
Global Endowment Management
North Carolina
$585K +$116K +671 +30%
EMCIP
344
Ewing Morris & Co Investment Partners
Ontario, Canada
$585K +$504K +2,915 New
NA
345
Navellier & Associates
Nevada
$572K +$102K +588 +26%
PA
346
Parallel Advisors
California
$567K +$5.19K +30 +1%
SS
347
SBI Securities
Japan
$566K +$22.7K +131 +5%
William Blair Investment Management
348
William Blair Investment Management
Illinois
$560K +$41.9K +242 +9%
Corient Private Wealth
349
Corient Private Wealth
Florida
$560K -$44.3K -256 -8%
I
350
InceptionR
California
$559K -$892K -5,160 -65%
12 13
14
15 16

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.