Triple Flag Precious Metals
TFPM
223 hedge funds and large institutions have $5.89B invested in Triple Flag Precious Metals in 2025 Q4 according to their latest regulatory filings, with 49 funds opening new positions, 68 increasing their positions, 69 reducing their positions, and 26 closing their positions.
150% more funds holding in top 10
Funds holding in top 10: 2 → 5 (+3)
88% more first-time investments, than exits
New positions opened: 49 | Existing positions closed: 26
21% more call options, than puts
Call options by funds: $9.04M | Put options by funds: $7.44M
14% more capital invested
Capital invested by funds: $5.15B → $5.89B (+$746M)
8% more funds holding
Funds holding: 207 → 223 (+16)
0.75% more ownership
Funds ownership: 85.13% → 85.88% (+0.75%)
1% less repeat investments, than reductions
Existing positions increased: 68 | Existing positions reduced: 69
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Vanguard Group
Malvern,
Pennsylvania
|
+$23.9M |
| 2 |
Mirae Asset Global ETFs Holdings
Causeway Bay,
Hong Kong
|
+$18.7M |
| 3 |
HKAM
Horizon Kinetics Asset Management
New York
|
+$12.5M |
| 4 |
TI
Tidal Investments
Milwaukee,
Wisconsin
|
+$12.2M |
| 5 |
1832 Asset Management
Toronto,
Ontario, Canada
|
+$7.95M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Neuberger Berman Group
New York
|
-$17M |
| 2 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
-$11.4M |
| 3 |
Goldman Sachs
New York
|
-$9.95M |
| 4 |
JP Morgan Chase
New York
|
-$9.32M |
| 5 |
WA
Whitebox Advisors
Minneapolis,
Minnesota
|
-$8.52M |
TFPM Hedge Fund Activity: Q4 2025 in Review
223 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in Triple Flag Precious Metals (TFPM) for Q4 2025, worth a combined $5.89B — up 14% from $5.15B a quarter earlier.
Buyers outnumbered sellers: 49 funds opened new TFPM positions and 26 closed out — a net gain of 23 holders — while 68 added to existing stakes and 69 trimmed.
The largest buyer was Vanguard Group, adding an estimated $23.9M. The largest seller was Neuberger Berman Group, cutting an estimated $17M.
- 223 institutional investors held Triple Flag Precious Metals (TFPM) as of Q4 2025, up from 207 in Q3 2025.
- Funds reported $5.89B of Triple Flag Precious Metals stock for Q4 2025, up 14% quarter-over-quarter.
- 49 funds opened new Triple Flag Precious Metals positions in Q4 2025 and 26 closed out, a net change of +23 holders.
- The largest Triple Flag Precious Metals buyer in Q4 2025 was Vanguard Group, an estimated $23.9M added.
- The largest Triple Flag Precious Metals seller in Q4 2025 was Neuberger Berman Group, an estimated $17M sold.
Based on aggregated 13F filings for Q4 2025.