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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
VCM
551
Versant Capital Management
Arizona
$48.1K – – –
JWA
552
JFS Wealth Advisors
Pennsylvania
$47.7K -$2.77K -16 -6%
GWM
553
Geneos Wealth Management
Colorado
$46.1K -$83.2K -481 -68%
TFA
554
Toth Financial Advisory
Virginia
$45.1K – – –
FGA
555
Fortis Group Advisors
New Jersey
$44.7K – – –
MPWT
556
MassMutual Private Wealth & Trust
Connecticut
$44.3K +$9.69K +56 +34%
Nomura Asset Management
557
Nomura Asset Management
Japan
$42.1K – – –
HNB
558
Huntington National Bank
Ohio
$41.3K -$34.6K -200 -49%
TSMHT
559
Thurston Springer Miller Herd & Titak
Indiana
$40.7K -$391K -2,261 -92%
CT
560
Caldwell Trust
Florida
$40.1K – – –
EAM
561
Erste Asset Management
Austria
$40.1K – – –
GJIA
562
Glass Jacobson Investment Advisors
Maryland
$40.1K – – –
WT
563
Whittier Trust
California
$40.1K – – –
CA
564
Clearstead Advisors
Ohio
$38.9K -$249K -1,438 -88%
ABWM
565
Alpine Bank Wealth Management
Colorado
$35.7K -$2.94K -17 -9%
SS
566
Sunbelt Securities
Texas
$34.1K +$29.1K +168 +8,400%
VWWMG
567
Vermillion & White Wealth Management Group
Pennsylvania
$29.3K +$25.3K +146 New
HWM
568
Hemington Wealth Management
Virginia
$28K -$1.04K -6 -4%
SWIM
569
Smallwood Wealth Investment Management
New Jersey
$28K – – –
MCM
570
Manchester Capital Management
Vermont
$27.7K – – –
WA
571
WPG Advisers
Maryland
$27.1K -$14.2K -82 -38%
FC
572
Fairscale Capital
New Hampshire
$27.1K – – –
DWM
573
Dogwood Wealth Management
Kansas
$25.9K +$5.54K +32 +33%
CHC
574
City Holding Co
West Virginia
$24.1K +$20.8K +120 New
AF
575
Alerus Financial
North Dakota
$20.1K – – –
21 22
23
24 25

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.