RGLD β€” ROYAL GOLD INC

Ownership history in ARMOR ADVISORS, L.L.C.  Β·  20 quarters on record

This page tracks every 13F SEC filing in which ARMOR ADVISORS, L.L.C. reported a position in ROYAL GOLD INC (RGLD). Data includes quarterly share count, position size as % of portfolio, estimated market value, and end-of-quarter stock price β€” sourced directly from SEC EDGAR 13F filings.

πŸ” Peak position
12.81% (2023 Q4)
πŸ“Š Avg. % of fund
7.0%
πŸ“… First filed
2019 Q4
πŸ“… Last filed
2025 Q3
⏱ Quarters held
20

Position Intelligence

ARMOR ADVISORS, L.L.C. Γ— RGLD AI Analytics

πŸ“‰ ARMOR ADVISORS, L.L.C. underperformed the S&P 500 by –2.5% annually on this RGLD position. Timing score: 58% (11/19 decisions correct). Average cost basis: $111.30. Maximum drawdown during holding period: –33.4%.

πŸ“ˆ Position Alpha vs SPY
-2.5%
annualised excess return

⚠️ Trailed SPY by 2.5% ann. on this position.
19 quarters analyzed

⏱️ Timing Score
58%

βœ… Decent timing β€” more right than wrong on entries and exits.
11 of 19 add/trim decisions correct

πŸ’° Entry Quality
$111.30
+79.4% vs current ($199.70)

Best entry: $89.96 (2022 Q3)  Β·  Worst: $176.61 (2025 Q2)

πŸ›‘οΈ Drawdown Resilience
–33.4%
max drawdown while held

πŸ’ͺ Held through 2 major drawdowns (>20%).

πŸ’ͺ Fund Conviction
40%
buy-side decisions

8 adds Β· 12 trims. Bought during 1 of 7 down-price quarters. πŸ“‰ Predominantly trimming β€” distribution phase.

πŸ“‘ Position Trajectory
↓ Shrinking
last 4–5 quarters trend

πŸ“‰ Portfolio weight has been declining in recent quarters. Possible distribution phase.
Currently 6.57% of portfolio

⚠ Based on quarterly 13F SEC filings and end-of-quarter closing prices. Timing score = accuracy of add/trim decisions vs next-quarter price direction. Alpha = mean quarterly excess return Γ— 4 (annualised). Not investment advice.

% of Fund (quarterly)    RGLD price (monthly, adj. close)
πŸ“‹ Quarterly Holdings History 10 quarters  β–Ύ
Quarter Action Shares Change Chg % % of Fund Mkt Value Price (EOQ)
2025 Q3 REDUCED 58,805 -4,800 -7.5% 6.57% $11.8M $199.70
2025 Q2 ADDED 63,605 +1,900 +3.1% 5.93% $11.3M $176.61
2025 Q1 ADDED 61,705 +28,347 +85.0% 8.04% $10.1M $161.95
2024 Q4 REDUCED 33,358 -66,000 -66.4% 4.58% $4.4M $130.15
2024 Q3 REDUCED 99,358 -19,469 -16.4% 8.96% $13.9M $138.10
2024 Q2 REDUCED 118,827 -4,856 -3.9% 10.95% $14.9M $122.81
2024 Q1 ADDED 123,683 +14,000 +12.8% 9.19% $15.1M $119.14
2023 Q4 REDUCED 109,683 -15,599 -12.5% 12.81% $13.3M $117.91
2023 Q3 REDUCED 125,282 -7,458 -5.6% 5.88% $13.3M $103.27
2023 Q2 REDUCED 132,740 -49,872 -27.3% 7.90% $15.2M $111.11
10 older quarters hidden  β€”  Sign in free or upgrade to Premium to see full history

🏒 Other funds also holding RGLD

As of 2025 Q4 β€” sorted by position size

America First Investment Advisors, LLC 3Y 7Y 5.89% Knoll Capital Management, LLC 3Y 7Y 5.38% MUHLENKAMP & CO INC 3Y 7Y 5.26% Euro Pacific Asset Management, LLC 3Y 4.01% Kopernik Global Investors, LLC 3Y 7Y 3.72% BARLOW WEALTH PARTNERS, LLC 2.99% FLAX POND CAPITAL, LLC 2.85% Findlay Park Partners LLP 3Y 7Y 2.77% Ballast Asset Management, LP 2.7% PRING TURNER CAPITAL GROUP INC 3Y 7Y 2.17%
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