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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
BP
501
Ballentine Partners
Massachusetts
$203K +$175K +1,010 New
BCWM
502
Bartlett & Co Wealth Management
Ohio
$201K – – –
BA
503
Bristlecone Advisors
Washington
$201K +$173K +1,000 New
GWP
504
Gateway Wealth Partners
Wisconsin
$201K +$173K +1,000 New
WAAG
505
Wealth Alliance Advisory Group
Kansas
$201K +$173K +1,000 New
WTC
506
WhitTier Trust Company
Nevada
$200K – – –
CSPIA
507
Cary Street Partners Investment Advisory
Virginia
$198K +$167K +964 +4,191%
NRG
508
Nemes Rush Group
Michigan
$198K +$519 +3 +0.3%
PWA
509
Physician Wealth Advisors
Utah
$195K -$9.17K -53 -5%
AUB
510
Atlantic Union Bankshares
Virginia
$188K – – –
SAM
511
Shell Asset Management
Netherlands
$185K -$113K -653 -42%
Asset Management One
512
Asset Management One
Japan
$184K +$159K +919 New
WANY
513
Wealthspire Advisors (New York)
New York
$177K +$153K +882 New
Fifth Third Bancorp
514
Fifth Third Bancorp
Ohio
$175K +$5.19K +30 +4%
EWA
515
EverSource Wealth Advisors
Alabama
$166K -$184K -1,063 -56%
Group One Trading
516
Group One Trading
Illinois
$161K +$139K +805 New
CJ
517
Caitlin John
Michigan
$154K +$133K +770 New
BCM
518
Birch Capital Management
Texas
$141K – – –
AA
519
Ancora Advisors
Ohio
$140K – – –
GCM
520
Gables Capital Management
Florida
$140K – – –
ST
521
Smithfield Trust
Pennsylvania
$140K – – –
LFG
522
Larson Financial Group
Missouri
$131K +$24.6K +142 +28%
HI
523
Harbour Investments
Wisconsin
$127K -$865 -5 -0.8%
QL
524
Quarry LP
New York
$125K -$48.1K -278 -31%
PCM
525
Penserra Capital Management
California
$117K +$102K +588 New
19 20
21
22 23

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.