Royal Gold
RGLD
743 hedge funds and large institutions have $15.9B invested in Royal Gold in 2025 Q4 according to their latest regulatory filings, with 167 funds opening new positions, 327 increasing their positions, 161 reducing their positions, and 67 closing their positions.
149% more first-time investments, than exits
New positions opened: 167 | Existing positions closed: 67
103% more repeat investments, than reductions
Existing positions increased: 327 | Existing positions reduced: 161
81% more call options, than puts
Call options by funds: $386M | Put options by funds: $214M
50% more funds holding in top 10
Funds holding in top 10: 8 → 12 (+4)
28% more capital invested
Capital invested by funds: $12.4B → $15.9B (+$3.51B)
14% more funds holding
Funds holding: 653 → 743 (+90)
9.15% less ownership
Funds ownership: 93.97% → 84.82% (-9.1%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BlackRock
New York
|
+$455M |
| 2 |
Vanguard Group
Malvern,
Pennsylvania
|
+$334M |
| 3 |
Capital International Investors
Los Angeles,
California
|
+$296M |
| 4 |
VanEck Associates
New York
|
+$180M |
| 5 |
Arrowstreet Capital
Boston,
Massachusetts
|
+$173M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
First Eagle Investment Management
New York
|
-$262M |
| 2 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
-$58.4M |
| 3 |
Baird Financial Group
Milwaukee,
Wisconsin
|
-$48.3M |
| 4 |
Renaissance Technologies
New York
|
-$47.4M |
| 5 |
Millennium Management
New York
|
-$44.8M |
RGLD Hedge Fund Activity: Q4 2025 in Review
743 institutional investors reported a position in Royal Gold (RGLD) for Q4 2025, worth a combined $15.9B — up 28% from $12.4B a quarter earlier.
Buyers outnumbered sellers: 167 funds opened new RGLD positions and 67 closed out — a net gain of 100 holders — while 327 added to existing stakes and 161 trimmed.
The largest buyer was BlackRock, adding an estimated $455M. The largest seller was First Eagle Investment Management, cutting an estimated $262M.
- 743 institutional investors held Royal Gold (RGLD) as of Q4 2025, up from 653 in Q3 2025.
- Funds reported $15.9B of Royal Gold stock for Q4 2025, up 28% quarter-over-quarter.
- 167 funds opened new Royal Gold positions in Q4 2025 and 67 closed out, a net change of +100 holders.
- The largest Royal Gold buyer in Q4 2025 was BlackRock, an estimated $455M added.
- The largest Royal Gold seller in Q4 2025 was First Eagle Investment Management, an estimated $262M sold.
Based on aggregated 13F filings for Q4 2025.