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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
SFI
176
Susquehanna Fundamental Investments
Pennsylvania
$3.52M -$420K -2,430 -12%
PTCG
177
Pring Turner Capital Group
California
$3.5M -$177K -1,022 -6%
KK
178
KLP Kapitalforvaltning
Norway
$3.47M +$17.3K +100 +0.6%
Mariner
179
Mariner
Kansas
$3.4M -$1.3M -7,534 -31%
AIMCA
180
Alberta Investment Management Corp (AIMCo)
Alberta, Canada
$3.4M +$2.93M +16,930 New
CIS
181
Capital International Sarl
California
$3.39M – – –
COPPSERS
182
Commonwealth of Pennsylvania Public School Employees Retirement System
Pennsylvania
$3.39M -$2.59K -15 -0.1%
Capital Fund Management (CFM)
183
Capital Fund Management (CFM)
France
$3.37M -$2.03M -11,714 -41%
TD Asset Management
184
TD Asset Management
Ontario, Canada
$3.37M -$347K -2,004 -11%
OSAM
185
O'Shaughnessy Asset Management
Connecticut
$3.25M -$183K -1,059 -6%
BA
186
Bard Associates
Illinois
$3.23M -$51K -295 -2%
KAS
187
Kestra Advisory Services
Texas
$3.23M -$146K -844 -5%
NFG
188
Nations Financial Group
Iowa
$3.21M +$57.2K +331 +2%
Teacher Retirement System of Texas
189
Teacher Retirement System of Texas
Texas
$3.15M -$5M -28,936 -65%
SOMRS
190
State of Michigan Retirement System
Michigan
$3.14M -$34.6K -200 -1%
VF
191
Vest Financial
Virginia
$3.11M +$397K +2,297 +17%
HSA
192
Hussman Strategic Advisors
Maryland
$3.07M -$3.53M -20,400 -57%
CIBC Asset Management
193
CIBC Asset Management
Ontario, Canada
$3.05M +$397K +2,295 +18%
FAF
194
Fjarde Ap-fonden
Sweden
$3.01M +$519K +3,000 +25%
Walleye Capital
195
Walleye Capital
New York
$3.01M +$2.58M +14,914 +17,342%
BG
196
BDF Gestion
France
$2.98M -$534K -3,088 -17%
NMIMC
197
Northwestern Mutual Investment Management Company
Wisconsin
$2.94M -$3.63K -21 -0.1%
Creative Planning
198
Creative Planning
Kansas
$2.85M +$300K +1,735 +14%
OMC
199
Old Mission Capital
Illinois
$2.83M +$2.44M +14,091 New
Natixis Advisors
200
Natixis Advisors
Massachusetts
$2.78M -$657K -3,799 -22%
6 7
8
9 10

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.