World Gold Trust Files 2024 10-K

TL;DR

WGLD filed its 2024 10-K. All good.

AI Summary

World Gold Trust filed its 10-K for the fiscal year ending September 30, 2024. The trust, formerly known as World Currency Gold Trust and Global Currency Gold Trust, is incorporated in Delaware and its principal executive offices are located at 685 Third Avenue, New York, NY. The filing details its financial performance and operations related to its investments in gold.

Why It Matters

This filing provides investors with a comprehensive overview of World Gold Trust's financial health and investment strategy for the past fiscal year, crucial for understanding its performance and future outlook.

Risk Assessment

Risk Level: low — The filing is a standard annual report for a trust, not indicating any unusual or elevated risks.

Key Numbers

• 2024-09-30 — Fiscal Year End (Reporting period for the 10-K)
• 2023-09-30 — Prior Fiscal Year End (Comparison period)

Key Players & Entities

• World Gold Trust (company) — Filer of the 10-K
• 2024-09-30 (date) — Fiscal year end
• 685 Third Avenue, New York, NY 10017 (location) — Business and mail address
• World Currency Gold Trust (company) — Former company name
• Global Currency Gold Trust (company) — Former company name

FAQ

Key Financial Figures

• $0.00 — ted, and the par value of the Shares is $0.00. The principal offices of the Trust an
• $0.50 — ounces. Bid-offer spreads are typically $0.50 per ounce. Transaction costs in the OTC

Filing Documents

• gldm20240930_10k.htm (10-K) — 1215KB
• ex_728990.htm (EX-4.2) — 228KB
• ex_723508.htm (EX-23.1) — 3KB
• ex_723509.htm (EX-23.2) — 2KB
• ex_723510.htm (EX-31.1) — 9KB
• ex_723511.htm (EX-31.2) — 9KB
• ex_723512.htm (EX-32.1) — 5KB
• ex_723513.htm (EX-32.2) — 5KB
• c01.jpg (GRAPHIC) — 45KB
• gldmchrt1.jpg (GRAPHIC) — 60KB
• gldmchrt2.jpg (GRAPHIC) — 70KB
• 0001437749-24-036162.txt ( ) — 5353KB
• gldm-20240930.xsd (EX-101.SCH) — 31KB
• gldm-20240930_cal.xml (EX-101.CAL) — 21KB
• gldm-20240930_def.xml (EX-101.DEF) — 170KB
• gldm-20240930_lab.xml (EX-101.LAB) — 145KB
• gldm-20240930_pre.xml (EX-101.PRE) — 189KB
• gldm20240930_10k_htm.xml (XML) — 970KB

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS This Annual Report on Form 10-K contains various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and within the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements usually include the words "anticipates," "believes," "estimates," "expects," "intends," "plans," "projects," "understands," "may," "can," "could," and other words or terms of similar meaning or import suggesting uncertainty. We remind readers that forward-looking statements are merely predictions and therefore inherently subject to uncertainties and other factors and involve known and unknown risks that could cause the actual results, performance, levels of activity, or our achievements, or industry results, to be materially different from any future results, performance, levels of activity, or our achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Trust undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events except as required by applicable securities laws. Additional significant uncertainties and other factors affecting forward-looking statements are presented in Item 1A. Risk Factors. "GLDM" and "MiniShares" are registered trademarks of World Gold Trust Services, LLC and have been licensed for use by WGC USA Asset Management Company, LLC. "SPDR" is a product of S&P Dow Jones Indices LLC ("SPDJI") and has been licensed for use by State Street Corporation. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones is a registered trademark of Dow Jones Trademark Ho

Business

Business 1 Structure 1 Investment Objective 2 Overview 3 The Gold Industry 4 Creation and Redemption of Shares 7 Liability 10 Custody of GLDM's Gold 10 United States Federal Tax Consequences 13 ERISA and Related Considerations 18 Item 1A.

Risk Factors

Risk Factors 18 Item 1B. Unresolved Staff Comments 28 Item 1C. Cybersecurity 28 Item 2.

Properties

Properties 28 Item 3.

Legal Proceedings

Legal Proceedings 28 Item 4. Mine Safety Disclosures 28 PART II 29 Item 5. Market for Registrant ' s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 29 Item 6. [Reserved] 29 Item 7. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 29 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 33 Item 8. Financial Statement and Supplementary Data 33 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 34 Item 9A.

Controls and Procedures

Controls and Procedures 34 Item 9B. Other Information 36 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 36 PART III 37 Item 10. Directors, Executive Officers and Corporate Governance 37 Item 11.

Executive Compensation

Executive Compensation 40 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 40 Item 13. Certain Relationships and Related Transactions and Director Independence 40 Item 14. Principal Accounting Fees and Services 40 PART IV 41 Item 15. Exhibits and Financial Statement Schedules 41 Item 16. Form 10-K Summary 43 ii Table of Contents PART I

Business

Item 1. Business STRUCTURE The Trust The World Gold Trust (the "Trust") was formed as a Delaware statutory trust on August 27, 2014. The Trust consists of multiple series (each, a "Fund" and collectively, the "Funds"). Each Fund issues common units of beneficial interest that represent units of fractional undivided beneficial interest in and ownership of such Fund. The term of the Trust and each Fund is perpetual (unless terminated earlier in certain circumstances). The Trust was organized in separate series as a Delaware statutory trust rather than as separate statutory trusts to achieve certain administrative and other efficiencies. The Trust is sponsored by WGC USA Asset Management Company, LLC ("WGCAM" or the "Sponsor"). The Funds The Trust has established six separate Funds of which one is operational at September 30, 2024. The accompanying financial statements relate to the Trust and the SPDR Gold MiniShares Trust ("GLDM"). GLDM commenced operations on June 26, 2018. GLDM's investment objective is for its shares (the "Shares") to reflect the performance of the price of gold bullion, less GLDM's expenses. GLDM issues and redeems Shares from time to time in blocks of 100,000 Shares ("Creation Units") to institutional investors referred to as "Authorized Participants." Creation Units are offered continuously at the net asset value (the "NAV") for 100,000 Shares on the day that an order to create a Creation Unit is accepted by GLDM. Shares trade under the ticker symbol GLDM on the NYSE Arca, Inc. (the "NYSE Arca"). Authorized Participants and other investors may buy and sell the Shares in the secondary market. Authorized share capital is unlimited, and the par value of the Shares is $0.00. The principal offices of the Trust and the Funds are at c/o WGC USA Asset Management Company, LLC, 685 Third Avenue, Suite 2702, New York, New York 10017. The Sponsor The Sponsor is a Delaware limited liability company and was formed on August 1, 2014. WGCAM is who

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View this 10-K filing on SEC EDGAR