Cliff Asness's RGLD Position Overview
Cliff Asness (via Aqr Capital Management LLC) currently holds 821,911 shares of Royal Gold, Inc. (RGLD) worth $182.7 M, representing 0.10% of the portfolio. First purchased in 2012-Q4, this long-term strategic position has been held for 52 quarters.
Based on 13F filings since 2013, Cliff Asness has maintained a long-term strategic position in RGLD, representing a significant commitment to this investment thesis. Largest addition occurred in Q1 2025, adding 685,857 shares. Largest reduction occurred in Q3 2025, reducing 885,538 shares.
Analysis based on 13F filings available since 2013 Q2
Cliff Asness's Royal Gold (RGLD) Holding Value Over Time
Track share changes against reported price movement
Quarterly Royal Gold (RGLD) Trades by Cliff Asness
| Report Date | Bought/Sold (Sh.) | % Change | Qtr. End Shares | Reported Price |
|---|---|---|---|---|
| Q4 2025 | -112,986 | Reduce 12.09% | 821,911 | $222.29 |
| Q3 2025 | -885,538 | Reduce 48.64% | 934,897 | $200.58 |
| Q2 2025 | +137,524 | Add 8.17% | 1.82 M | $175.31 |
| Q1 2025 | +685,857 | Add 68.79% | 1.68 M | $163.34 |
| Q4 2024 | +152,599 | Add 18.07% | 997,054 | $131.80 |
| Q3 2024 | +360,962 | Add 74.66% | 844,455 | $140.30 |
| Q2 2024 | +134,120 | Add 38.39% | 483,493 | $125.16 |
| Q1 2024 | +184,757 | Add 112.24% | 349,373 | $120.83 |
| Q4 2023 | +81,209 | Add 97.36% | 164,616 | $120.95 |
| Q3 2023 | +25,643 | Add 44.39% | 83,407 | $106.33 |
| Q2 2023 | -1,260 | Reduce 2.13% | 57,764 | $113.78 |
| Q1 2023 | -50,979 | Reduce 46.34% | 59,024 | $129.10 |
| Q4 2022 | -38,935 | Reduce 26.14% | 110,003 | $112.21 |
| Q3 2022 | -31,719 | Reduce 17.56% | 148,938 | $93.06 |
| Q2 2022 | +125,368 | Add 226.75% | 180,657 | $106.78 |
| Q1 2022 | -11,572 | Reduce 17.31% | 55,289 | $141.28 |
| Q4 2021 | -7,809 | Reduce 10.46% | 66,861 | $105.08 |
| Q3 2021 | -36,923 | Reduce 33.09% | 74,670 | $95.49 |
| Q2 2021 | +43,449 | Add 63.76% | 111,593 | $114.10 |
| Q1 2021 | +29,566 | Add 76.64% | 68,144 | $106.36 |
| Q4 2020 | -19,058 | Reduce 33.07% | 38,578 | $106.38 |
| Q3 2020 | -1,665 | Reduce 2.81% | 57,636 | $118.75 |
| Q2 2020 | +9,588 | Add 19.29% | 59,301 | $120.12 |
| Q1 2020 | -23,935 | Reduce 32.50% | 49,713 | $87.70 |
| Q4 2019 | -18,011 | Reduce 19.65% | 73,648 | $122.24 |
| Q3 2019 | -17,250 | Reduce 15.84% | 91,659 | $123.21 |
| Q2 2019 | -2,487 | Reduce 2.23% | 108,909 | $101.46 |
| Q1 2019 | +76,511 | Add 219.32% | 111,396 | $90.93 |
| Q4 2018 | -14,680 | Reduce 29.62% | 34,885 | $85.65 |
| Q3 2018 | +39,315 | Add 383.56% | 49,565 | $77.05 |
| Q2 2018 | -24,295 | Reduce 70.33% | 10,250 | $92.88 |
| Q1 2018 | +9,507 | Add 37.97% | 34,545 | $85.86 |
| Q4 2017 | -17,026 | Reduce 40.48% | 25,038 | $82.16 |
| Q3 2017 | -243,742 | Reduce 85.28% | 42,064 | $86.27 |
| Q2 2017 | +268,181 | Add 1521.59% | 285,806 | $78.17 |
| Q1 2017 | -2,853 | Reduce 13.93% | 17,625 | $70.07 |
| Q4 2016 | +998 | Add 5.12% | 20,478 | $63.34 |
| Q3 2016 | +19,480 | New Buy | 19,480 | $77.41 |
| Q1 2016 | -17,709 | Sold Out | 0 | $0.00 |
| Q4 2015 | -2,824 | Reduce 13.75% | 17,709 | $36.48 |
| Q3 2015 | +5,150 | Add 33.48% | 20,533 | $47.00 |
| Q2 2015 | -13,917 | Reduce 47.50% | 15,383 | $61.56 |
| Q1 2015 | -9,300 | Reduce 24.09% | 29,300 | $63.11 |
| Q4 2014 | -7,900 | Reduce 16.99% | 38,600 | $62.69 |
| Q3 2014 | +34,100 | Add 275.00% | 46,500 | $64.95 |
| Q2 2014 | +3,152 | Add 34.08% | 12,400 | $76.13 |
| Q1 2014 | -3,400 | Reduce 26.88% | 9,248 | $62.61 |
| Q4 2013 | +1,000 | Add 8.59% | 12,648 | $46.09 |
| Q3 2013 | -10,000 | Reduce 46.19% | 11,648 | $48.68 |
| Q2 2013 | +21,648 | Add 0.00% | 21,648 | $42.08 |
| Q4 2012 | +11,648 | Add 0.00% | 11,648 | $81.30 |
Cliff Asness's Royal Gold Investment FAQs
Cliff Asness first purchased Royal Gold, Inc. (RGLD) in Q4 2012, acquiring 11,648 shares, as reported in their 13F filing for that period. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Cliff Asness has held Royal Gold, Inc. (RGLD) for 52 quarters since Q4 2012.
Cliff Asness's largest addition to Royal Gold, Inc. (RGLD) was in Q1 2025, adding 1,682,911 shares worth $274.89 M.
According to the latest 13F filing for Q4 2025, Cliff Asness's firm, Aqr Capital Management LLC, owns 821,911 shares of Royal Gold, Inc. (RGLD), valued at approximately $182.7 M.
As of the Q4 2025 filing, Royal Gold, Inc. (RGLD) represents approximately 0.10% of Cliff Asness's publicly disclosed stock portfolio, making it one of their key holdings.
Cliff Asness's peak holding in Royal Gold, Inc. (RGLD) was 1,820,435 shares, as reported at the end of Q2 2025.