Capital World Investors filed an amended Schedule 13G reporting beneficial ownership of 9,788,500 shares of Royal Gold, Inc. common stock, representing 11.6% of the class. The firm has sole voting power over 9,749,333 shares and sole dispositive power over 9,788,500 shares, based on 84,398,063 shares believed outstanding.
The shares are reported as acquired and held in the ordinary course of business and not for the purpose of changing or influencing control of Royal Gold.
Positive
None.
Negative
None.
Insights
Capital World Investors reports an 11.6% passive stake in Royal Gold.
Capital World Investors discloses beneficial ownership of 9,788,500 Royal Gold shares, or 11.6% of the common stock, with sole voting authority over 9,749,333 shares. The stake is reported across related investment management entities operating under the Capital World Investors name.
The filing is certified as a passive, ordinary-course investment, stating the position was not acquired to change or influence control of Royal Gold. As a Schedule 13G/A, it signals a sizable institutional holding rather than an activist campaign.
The reported ownership is based on 84,398,063 shares believed outstanding as of the event date of 12/31/2025. Future ownership reports and company filings may provide updates on any changes in this percentage or voting power.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 8)
Royal Gold, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
780287108
(CUSIP Number)
12/31/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
780287108
1
Names of Reporting Persons
Capital World Investors
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
9,749,333.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
9,788,500.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
9,788,500.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
11.6 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Royal Gold, Inc.
(b)
Address of issuer's principal executive offices:
1144 15th Street, Suite 2500, Denver, CO 80202
Item 2.
(a)
Name of person filing:
Capital World Investors
(b)
Address or principal business office or, if none, residence:
333 SOUTH HOPE STREET, 55TH FLOOR, LOS ANGELES, CALIFORNIA 90071
(c)
Citizenship:
N/A
(d)
Title of class of securities:
Common Stock
(e)
CUSIP No.:
780287108
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
9,788,500 **
**Capital World Investors ("CWI") is a division of Capital Research and Management Company ("CRMC"), as well as its investment management subsidiaries and affiliates Capital Bank and Trust Company, Capital International, Inc., Capital International Limited, Capital International Sarl, Capital International K.K., Capital Group Private Client Services, Inc., and Capital Group Investment Management Private Limited (together with CRMC, the "investment management entities"). CWI's divisions of each of the investment management entities collectively provide investment management services under the name "Capital World Investors." CWI is deemed to be the beneficial owner of 9,788,500 shares or 11.6% of the 84,398,063 shares believed to be outstanding.
(b)
Percent of class:
11.6 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
9,749,333
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
9,788,500
(iv) Shared power to dispose or to direct the disposition of:
0
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
American Balanced Fund
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Capital World Investors
Signature:
Timothy J. Moon
Name/Title:
Vice President and Senior Counsel, Capital Research and Management Company
What percentage of Royal Gold (RGLD) does Capital World Investors currently own?
Capital World Investors reports beneficial ownership of 11.6% of Royal Gold’s common stock. This equals 9,788,500 shares, based on 84,398,063 shares of Royal Gold believed to be outstanding as of the December 31, 2025 event date.
How many Royal Gold (RGLD) shares does Capital World Investors control for voting?
Capital World Investors has sole voting power over 9,749,333 Royal Gold shares. The filing shows no shared voting power, indicating decisions on those shares’ votes are controlled solely by Capital World Investors and its related investment management entities.
Is Capital World Investors’ stake in Royal Gold (RGLD) an activist position?
The stake is described as a passive investment, acquired and held in the ordinary course of business. The filing explicitly states it was not acquired to change or influence control of Royal Gold or in connection with any control-related transaction.
What type of filing did Capital World Investors submit for Royal Gold (RGLD)?
Capital World Investors submitted an Amendment No. 8 to Schedule 13G for Royal Gold, Inc. A Schedule 13G is a beneficial ownership report typically used by institutional investors holding a passive stake of more than 5% of a company’s shares.
Who signed the Royal Gold (RGLD) Schedule 13G/A on behalf of Capital World Investors?
The filing was signed by Timothy J. Moon, identified as Vice President and Senior Counsel at Capital Research and Management Company. The signature certifies that the information reported regarding Royal Gold share ownership is true, complete, and correct.
How is Capital World Investors related to other Capital Group entities in the Royal Gold (RGLD) filing?
Capital World Investors is described as a division of Capital Research and Management Company and its investment management subsidiaries and affiliates. These entities collectively provide investment management services under the Capital World Investors name and are deemed beneficial owners of the reported Royal Gold shares.
