Royal Gold, Inc.
US ˙ NasdaqGS ˙ US7802871084

SecurityRGLD / Royal Gold, Inc.
InstitutionMorgan Stanley
Latest Disclosed Ownership930,481 shares
Latest Disclosed Value $ 236,798,581
Morgan Stanley reports 20.30% decrease in ownership of RGLD / Royal Gold, Inc.

On May 15, 2026 - Morgan Stanley filed a 13F-HR form disclosing ownership of 930,481 shares of Royal Gold, Inc. (US:RGLD) valued at $236,798,110 USD as of March 31, 2026. The entity filed a previous 13F-HR/A on May 27, 2026 disclosing 1,167,521 shares of Royal Gold, Inc.. This represents a change in shares of -20.30% during the quarter. The current value of the position is $201,718,976 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F ROYAL GOLD COM 780287108 930,481 -237,040 -20.30 236,799 -8.76 0.0143
2026-05-27 2025-12-31 13F/A-1 ROYAL GOLD COM 780287108 1,167,521 68,257 6.21 259,529 17.71 0.0155
2026-02-13 2025-12-31 13F ROYAL GOLD COM 780287108 1,167,521 68,257 259,529 0.0155
2026-05-27 2025-09-30 13F/A-1 ROYAL GOLD COM 780287108 1,099,264 230,677 26.56 220,491 42.74 0.0133
2025-11-14 2025-09-30 13F ROYAL GOLD COM 780287108 1,099,264 230,677 220,491 0.0133
2025-08-15 2025-06-30 13F ROYAL GOLD COM 780287108 868,587 -30,524 -3.39 154,470 5.07 0.0101
2025-05-15 2025-03-31 13F ROYAL GOLD COM 780287108 899,111 -11,217 -1.23 147,014 22.48 0.0105
2025-05-15 2024-12-31 13F/A-1 ROYAL GOLD COM 780287108 910,328 364,707 66.84 120,027 56.79 0.0084
2025-02-14 2024-12-31 13F ROYAL GOLD COM 780287108 910,328 364,707 120,027 0.0084
2025-05-14 2024-09-30 13F/A-2 ROYAL GOLD COM 780287108 545,621 -1,051 -0.19 76,551 11.88 0.0056
2025-02-14 2024-09-30 13F/A-1 ROYAL GOLD COM 780287108 545,621 -1,051 76,551 0.0056
2024-11-14 2024-09-30 13F ROYAL GOLD COM 780287108 545,621 -1,051 76,551 0.0007
2025-05-14 2024-06-30 13F/A-2 ROYAL GOLD COM 780287108 546,672 -35,845 -6.15 68,422 -3.57 0.0053
2024-10-17 2024-06-30 13F/A-1 ROYAL GOLD COM 780287108 546,672 -35,845 68,422 0.0053
2024-08-14 2024-06-30 13F ROYAL GOLD COM 780287108 546,672 -35,845 68,422 0.0053
2024-10-17 2024-03-31 13F/A-2 ROYAL GOLD COM 780287108 582,517 69,656 13.58 70,957 14.38 0.0057
2024-08-16 2024-03-31 13F/A-1 ROYAL GOLD COM 780287108 582,517 69,656 70,957 0.0057
2024-05-15 2024-03-31 13F ROYAL GOLD COM 780287108 582,517 69,656 70,957 0.0057
2024-08-16 2023-12-31 13F/A-1 ROYAL GOLD COM 780287108 512,861 2,943 0.58 62,036 14.42 0.0055
2024-02-13 2023-12-31 13F ROYAL GOLD COM 780287108 512,861 2,943 62,036 0.0055
2023-11-15 2023-09-30 13F ROYAL GOLD COM 780287108 509,918 -49,146 -8.79 54,220 -15.51 0.0055
2023-08-14 2023-06-30 13F ROYAL GOLD COM 780287108 559,064 20,092 3.73 64,169 -8.21 0.0063
2023-05-15 2023-03-31 13F ROYAL GOLD COM 780287108 538,972 18,149 3.48 69,910 19.08 0.0075
2023-02-14 2022-12-31 13F ROYAL GOLD COM 780287108 520,823 32,926 6.75 58,707 28.26 0.0067
2022-11-14 2022-09-30 13F ROYAL GOLD COM 780287108 487,897 -16,198 -3.21 45,773 -14.96 0.0062
2022-10-27 2022-06-30 13F/A-1 ROYAL GOLD COM 780287108 504,095 310,437 160.30 53,827 96.73 0.0070
2022-08-15 2022-06-30 13F ROYAL GOLD COM 780287108 504,095 310,437 53,827 0.0014
2022-10-27 2022-03-31 13F/A-1 ROYAL GOLD COM 780287108 193,658 -147,381 -43.22 27,361 -23.75 0.0037
2022-05-13 2022-03-31 13F ROYAL GOLD COM 780287108 193,658 -147,381 27,361 0.0037
2022-02-14 2021-12-31 13F ROYAL GOLD COM 780287108 341,039 -2,081,555 -85.92 35,881 -84.49 0.0044
2021-11-15 2021-09-30 13F ROYAL GOLD COM 780287108 2,422,594 -37,691 -1.53 231,332 -17.59 0.0312
2021-08-23 2021-06-30 13F/A-1 ROYAL GOLD COM 780287108 2,460,285 29,307 1.21 280,720 7.30 0.0370
2021-08-16 2021-06-30 13F ROYAL GOLD COM 780287108 2,460,285 29,307 280,720 0.0077
2021-05-17 2021-03-31 13F ROYAL GOLD COM 780287108 2,430,978 1,200,902 97.63 261,622 99.97 0.0384
2021-02-16 2020-12-31 13F ROYAL GOLD COM 780287108 1,230,076 135,004 12.33 130,831 -0.58 0.0202
2020-11-13 2020-09-30 13F ROYAL GOLD COM 780287108 1,095,072 80,174 7.90 131,594 4.30 0.0255
2020-08-14 2020-06-30 13F ROYAL GOLD COM 780287108 1,014,898 645,263 174.57 126,172 289.17 0.0279
2020-05-26 2020-03-31 13F/A-1 ROYAL GOLD COM 780287108 369,635 -36,016 -8.88 32,421 -34.62 0.0088
2020-05-15 2020-03-31 13F ROYAL GOLD COM 780287108 369,635 -36,016 32,421 2,490.6087
2020-02-14 2019-12-31 13F ROYAL GOLD COM 780287108 405,651 130,037 47.18 49,591 46.03 0.0115
2019-11-14 2019-09-30 13F ROYAL GOLD COM 780287108 275,614 -7,014 -2.48 33,959 17.23 0.0090
2019-08-14 2019-06-30 13F ROYAL GOLD COM 780287108 282,628 -8,602 -2.95 28,967 9.39 0.0077
2019-05-15 2019-03-31 13F ROYAL GOLD COM 780287108 291,230 147,404 102.49 26,481 115.00 0.0075
2019-02-14 2018-12-31 13F ROYAL GOLD COM 780287108 143,826 -172,145 -54.48 12,317 -49.41 0.0037
2019-04-23 2018-09-30 13F/A-2 ROYAL GOLD COM 780287108 315,971 1,114 0.35 24,349 -16.70 0.0061
2018-11-20 2018-09-30 13F/A-1 ROYAL GOLD COM 780287108 315,971 0 24,349 0.0061
2018-11-14 2018-09-30 13F ROYAL GOLD COM 780287108 315,971 1,114 24,349
2019-04-23 2018-06-30 13F/A-1 ROYAL GOLD COM 780287108 314,857 -53,037 -14.42 29,231 -7.47 0.0079
2018-08-14 2018-06-30 13F ROYAL GOLD COM 780287108 314,857 -53,037 29,231
2019-04-23 2018-03-31 13F/A-1 ROYAL GOLD COM 780287108 367,894 -275,455 -42.82 31,591 -40.20 0.0088
2018-05-14 2018-03-31 13F ROYAL GOLD COM 780287108 367,894 -275,455 31,591
2019-04-23 2017-12-31 13F/A-1 ROYAL GOLD COM 780287108 643,349 -32,127 -4.76 52,831 -9.10 0.0145
2018-02-14 2017-12-31 13F ROYAL GOLD COM 780287108 643,349 -32,127 52,831
2017-11-14 2017-09-30 13F ROYAL GOLD COM 780287108 675,476 330,674 95.90 58,117 115.62 0.0174
2017-08-11 2017-06-30 13F ROYAL GOLD COM 780287108 344,802 69,532 25.26 26,954 39.78 0.0081
2017-05-22 2017-03-31 13F/A-1 ROYAL GOLD COM 780287108 275,270 -201,881 -42.31 19,283 -36.21 0.0059
2017-05-12 2017-03-31 13F ROYAL GOLD COM 780287108 275,270 19,283
2017-02-22 2016-12-31 13F/A-1 ROYAL GOLD COM 780287108 477,151 309,176 184.06 30,227 132.39 0.0099
2017-02-13 2016-12-31 13F ROYAL GOLD COM 780287108 477,151 30,227
2016-11-10 2016-09-30 13F ROYAL GOLD COM 780287108 167,975 -2,650 -1.55 13,007 5.85 0.0044
2016-08-12 2016-06-30 13F ROYAL GOLD COM 780287108 170,625 5,990 3.64 12,288 45.51 0.0044
2016-05-12 2016-03-31 13F ROYAL GOLD COM 780287108 164,635 -163,114 -49.77 8,445 -29.35 0.0032
2016-02-09 2015-12-31 13F ROYAL GOLD COM 780287108 327,749 -215,805 -39.70 11,953 -53.19 0.0043
2016-02-08 2015-09-30 13F/A-1 ROYAL GOLD COM 780287108 543,554 196,526 56.63 25,536 19.47 0.0094
2015-11-09 2015-09-30 13F ROYAL GOLD COM 780287108 543,554 25,536
2015-08-12 2015-06-30 13F ROYAL GOLD COM 780287108 347,028 130,587 60.33 21,374 56.51 0.0074
2015-05-14 2015-03-31 13F ROYAL GOLD COM 780287108 216,441 -105,169 -32.70 13,657 -32.27 0.0050
2015-02-13 2014-12-31 13F ROYAL GOLD COM 780287108 321,610 93,091 40.74 20,165 35.87 0.0074
2014-12-16 2014-09-30 13F/A-1 ROYAL GOLD COM 780287108 228,519 104,996 85.00 14,841 91.87 0.0057
2014-11-14 2014-09-30 13F ROYAL GOLD COM 780287108 228,519 14,841
2014-05-13 2014-03-31 13F ROYAL GOLD COM 780287108 123,523 -45,455 -26.90 7,735 -0.64 0.0032
2014-02-13 2013-12-31 13F ROYAL GOLD COM 780287108 168,978 -276,022 -62.03 7,785 -64.05 0.0033
2013-11-13 2013-09-30 13F ROYAL GOLD INC COM ST COM 780287108 445,000 -12,075 -2.64 21,654 12.58 0.0102
2013-08-08 2013-06-30 13F ROYAL GOLD INC COM ST COM 780287108 457,075 457,075 19,235 0.0097
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.