Murray Stahl's RGLD Position Overview
Murray Stahl (via Horizon Kinetics Asset Management LLC) currently holds 63,820 shares of Royal Gold, Inc. (RGLD) worth $12.8 M, representing 0.16% of the portfolio. First purchased in 2014-Q3, this long-term strategic position has been held for 45 quarters.
Based on 13F filings since 2013, Murray Stahl has maintained a long-term strategic position in RGLD, representing a significant commitment to this investment thesis. Largest addition occurred in Q4 2014, adding 352,875 shares. Largest reduction occurred in Q4 2015, reducing 243,191 shares.
Analysis based on 13F filings available since 2013 Q2
Murray Stahl's Royal Gold (RGLD) Holding Value Over Time
Track share changes against reported price movement
Quarterly Royal Gold (RGLD) Trades by Murray Stahl
| Period | Bought/Sold (Sh.) | % Change | Qtr. End Shares | Reported Price |
|---|---|---|---|---|
| Q3 2014 | +99,338 | New Buy | 99,338 | $64.94 |
| Q4 2014 | +352,875 | Add 355.23% | 452,213 | $62.70 |
| Q1 2015 | +159,824 | Add 35.34% | 612,037 | $63.11 |
| Q2 2015 | +120,085 | Add 19.62% | 732,122 | $61.59 |
| Q3 2015 | -16,131 | Reduce 2.20% | 715,991 | $46.98 |
| Q4 2015 | -243,191 | Reduce 33.97% | 472,800 | $36.47 |
| Q1 2016 | +3,924 | Add 0.83% | 476,724 | $51.29 |
| Q2 2016 | -18,113 | Reduce 3.80% | 458,611 | $72.02 |
| Q3 2016 | -16,942 | Reduce 3.69% | 441,669 | $77.43 |
| Q4 2016 | -42,952 | Reduce 9.72% | 398,717 | $63.35 |
| Q1 2017 | -20,319 | Reduce 5.10% | 378,398 | $70.05 |
| Q2 2017 | -25,802 | Reduce 6.82% | 352,596 | $78.17 |
| Q3 2017 | -18,855 | Reduce 5.35% | 333,741 | $86.04 |
| Q4 2017 | -18,392 | Reduce 5.51% | 315,349 | $82.12 |
| Q1 2018 | -15,600 | Reduce 4.95% | 299,749 | $85.87 |
| Q2 2018 | -12,191 | Reduce 4.07% | 287,558 | $92.84 |
| Q3 2018 | -8,519 | Reduce 2.96% | 279,039 | $77.06 |
| Q4 2018 | -20,282 | Reduce 7.27% | 258,757 | $85.65 |
| Q1 2019 | +249,946 | Add 0.00% | 249,945 | $90.93 |
| Q2 2019 | -10,220 | Reduce 4.09% | 239,725 | $102.49 |
| Q3 2019 | -6,692 | Reduce 2.79% | 233,033 | $123.21 |
| Q4 2019 | -12,282 | Reduce 5.27% | 220,751 | $122.25 |
| Q1 2020 | -15,434 | Reduce 6.99% | 205,317 | $87.71 |
| Q2 2020 | -15,860 | Reduce 7.72% | 189,457 | $124.32 |
| Q3 2020 | -6,479 | Reduce 3.42% | 182,978 | $120.17 |
| Q4 2020 | -13,828 | Reduce 7.56% | 169,150 | $106.36 |
| Q1 2021 | -523 | Reduce 0.31% | 168,627 | $107.62 |
| Q2 2021 | -6,333 | Reduce 3.76% | 162,294 | $114.10 |
| Q3 2021 | -3,867 | Reduce 2.38% | 158,427 | $95.49 |
| Q4 2021 | -4,450 | Reduce 2.81% | 153,977 | $105.21 |
| Q1 2022 | -5,635 | Reduce 3.66% | 148,342 | $141.28 |
| Q2 2022 | -4,964 | Reduce 3.35% | 143,378 | $106.78 |
| Q3 2022 | -1,505 | Reduce 1.05% | 141,873 | $93.82 |
| Q4 2022 | -3,237 | Reduce 2.28% | 138,636 | $112.72 |
| Q1 2023 | -1,373 | Reduce 0.99% | 137,263 | $129.71 |
| Q2 2023 | -2,470 | Reduce 1.80% | 134,793 | $114.78 |
| Q3 2023 | -3,395 | Reduce 2.52% | 131,398 | $106.33 |
| Q4 2023 | -3,409 | Reduce 2.59% | 127,989 | $120.96 |
| Q1 2024 | -38,330 | Reduce 29.95% | 89,659 | $121.81 |
| Q2 2024 | -671 | Reduce 0.75% | 88,988 | $125.16 |
| Q3 2024 | -12,621 | Reduce 14.18% | 76,367 | $140.30 |
| Q4 2024 | -1,575 | Reduce 2.06% | 74,792 | $131.85 |
| Q1 2025 | -164 | Reduce 0.22% | 74,628 | $163.51 |
| Q2 2025 | -1,736 | Reduce 2.33% | 72,892 | $177.84 |
| Q3 2025 | -9,072 | Reduce 12.45% | 63,820 | $200.58 |
Murray Stahl's Royal Gold Investment FAQs
Murray Stahl first purchased Royal Gold, Inc. (RGLD) in Q3 2014, acquiring 99,338 shares, as reported in their 13F filing for that period. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Murray Stahl has held Royal Gold, Inc. (RGLD) for 45 quarters since Q3 2014. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Murray Stahl's largest addition to Royal Gold, Inc. (RGLD) was in Q4 2014, adding 452,213 shares worth $28.35 M. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
According to the latest 13F filing for Q3 2025, Murray Stahl's firm, Horizon Kinetics Asset Management LLC, owns 63,820 shares of Royal Gold, Inc. (RGLD), valued at approximately $12.8 M. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
As of the Q3 2025 filing, Royal Gold, Inc. (RGLD) represents approximately 0.16% of Murray Stahl's publicly disclosed stock portfolio, making it one of their key holdings. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Murray Stahl's peak holding in Royal Gold, Inc. (RGLD) was 732,122 shares, as reported at the end of Q2 2015. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.