Royalty Pharma
RPRX
539 hedge funds and large institutions have $13.8B invested in Royalty Pharma in 2025 Q4 according to their latest regulatory filings, with 108 funds opening new positions, 234 increasing their positions, 137 reducing their positions, and 50 closing their positions.
116% more first-time investments, than exits
New positions opened: 108 | Existing positions closed: 50
71% more repeat investments, than reductions
Existing positions increased: 234 | Existing positions reduced: 137
55% more call options, than puts
Call options by funds: $10.3M | Put options by funds: $6.61M
40% more funds holding in top 10
Funds holding in top 10: 10 → 14 (+4)
19% more capital invested
Capital invested by funds: $11.6B → $13.8B (+$2.22B)
11% more funds holding
Funds holding: 487 → 539 (+52)
7.68% more ownership
Funds ownership: 76.05% → 83.73% (+7.7%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$424M |
| 2 |
Citadel Advisors
Miami,
Florida
|
+$186M |
| 3 |
Capital International Investors
Los Angeles,
California
|
+$148M |
| 4 |
Jane Street
New York
|
+$68.5M |
| 5 |
RP
Regal Partners
Sydney, NSW,
Australia
|
+$46M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Millennium Management
New York
|
-$80.8M |
| 2 |
Fidelity Investments
Boston,
Massachusetts
|
-$65.4M |
| 3 |
GA
General Atlantic
New York
|
-$52.9M |
| 4 |
Marshall Wace
London,
United Kingdom
|
-$41.4M |
| 5 |
Vanguard Group
Malvern,
Pennsylvania
|
-$38.2M |
RPRX Hedge Fund Activity: Q4 2025 in Review
539 of the 8,263 institutional investors tracked by Wall St. Rank reported a position in Royalty Pharma (RPRX) for Q4 2025, worth a combined $13.8B — up 19% from $11.6B a quarter earlier.
Buyers outnumbered sellers: 108 funds opened new RPRX positions and 50 closed out — a net gain of 58 holders — while 234 added to existing stakes and 137 trimmed.
The largest buyer was Morgan Stanley, adding an estimated $424M. The largest seller was Millennium Management, cutting an estimated $80.8M.
- 539 institutional investors held Royalty Pharma (RPRX) as of Q4 2025, up from 487 in Q3 2025.
- Funds reported $13.8B of Royalty Pharma stock for Q4 2025, up 19% quarter-over-quarter.
- 108 funds opened new Royalty Pharma positions in Q4 2025 and 50 closed out, a net change of +58 holders.
- The largest Royalty Pharma buyer in Q4 2025 was Morgan Stanley, an estimated $424M added.
- The largest Royalty Pharma seller in Q4 2025 was Millennium Management, an estimated $80.8M sold.
Based on aggregated 13F filings for Q4 2025.