iShares Gold Trust Files 2023 Annual Report
Ticker: IAU · Form: 10-K · Filed: Feb 20, 2024 · CIK: 1278680
Sentiment: neutral
Topics: Gold Trust, 10-K, IAU, SEC Filing, Gold Bullion
TL;DR
<b>iShares Gold Trust filed its 2023 10-K, reporting a decrease in the cost of its gold bullion holdings.</b>
AI Summary
ISHARES GOLD TRUST (IAU) filed a Annual Report (10-K) with the SEC on February 20, 2024. The iShares Gold Trust filed its 10-K for the fiscal year ended December 31, 2023. The Trust's cost of investment in gold bullion was $20,091,705,096 as of December 31, 2023. This compares to a cost of $22,205,551,004 for the prior year. The Trust's shares are registered under the trading symbol IAU on the NYSE Arca, Inc. The Trust was incorporated in New York and its fiscal year ends on December 31.
Why It Matters
For investors and stakeholders tracking ISHARES GOLD TRUST, this filing contains several important signals. This filing provides investors with the official financial performance and holdings of the iShares Gold Trust for the 2023 fiscal year. Changes in the cost of gold bullion holdings can indicate shifts in the Trust's investment strategy or market price fluctuations of gold.
Risk Assessment
Risk Level: low — ISHARES GOLD TRUST shows low risk based on this filing. The filing is a standard annual report (10-K) for a passively managed gold trust, with no immediate red flags or significant operational changes indicated.
Analyst Insight
Monitor the cost of gold bullion holdings in future filings for insights into the Trust's investment activity and market sentiment towards gold.
Key Numbers
- 20,091,705,096 — Cost of investment in gold bullion (As of December 31, 2023)
- 22,205,551,004 — Cost of investment in gold bullion (As of December 31, 2022)
- 001-32418 — Commission File Number (SEC)
- 81-6124036 — I.R.S. Employer Identification No. (Registrant)
Key Players & Entities
- iShares Gold Trust (company) — Registrant
- IAU (company) — Trading Symbol
- NYSE Arca, Inc. (company) — Exchange
- BlackRock Inc. (company) — Business Address
- New York (company) — State of Incorporation
- 2023-12-31 (date) — Fiscal Year End
- 2024-02-20 (date) — Filing Date
FAQ
When did ISHARES GOLD TRUST file this 10-K?
ISHARES GOLD TRUST filed this Annual Report (10-K) with the SEC on February 20, 2024.
What is a 10-K filing?
A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by ISHARES GOLD TRUST (IAU).
Where can I read the original 10-K filing from ISHARES GOLD TRUST?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by ISHARES GOLD TRUST.
What are the key takeaways from ISHARES GOLD TRUST's 10-K?
ISHARES GOLD TRUST filed this 10-K on February 20, 2024. Key takeaways: The iShares Gold Trust filed its 10-K for the fiscal year ended December 31, 2023.. The Trust's cost of investment in gold bullion was $20,091,705,096 as of December 31, 2023.. This compares to a cost of $22,205,551,004 for the prior year..
Is ISHARES GOLD TRUST a risky investment based on this filing?
Based on this 10-K, ISHARES GOLD TRUST presents a relatively low-risk profile. The filing is a standard annual report (10-K) for a passively managed gold trust, with no immediate red flags or significant operational changes indicated.
What should investors do after reading ISHARES GOLD TRUST's 10-K?
Monitor the cost of gold bullion holdings in future filings for insights into the Trust's investment activity and market sentiment towards gold. The overall sentiment from this filing is neutral.
Risk Factors
- Fluctuations in Gold Prices [medium — financial]: The value of the Trust's investment in gold bullion is subject to significant fluctuations in the price of gold, which can be influenced by various global economic and political factors.
- Trust Share Transactions [low — operational]: The timing of Trust Share transactions in relation to the fluctuating fair values of the Trust's underlying investment can affect reported per Share amounts.
Key Dates
- 2023-12-31: Fiscal Year End — Reporting period for the 10-K filing.
- 2024-02-20: Filing Date — Date the 10-K was filed with the SEC.
- 2021-05-24: Reverse Stock Split — Effective date of a one-for-two reverse stock split, impacting per share amounts.
Glossary
- 10-K
- An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (Provides the official financial and operational overview of the iShares Gold Trust for the fiscal year.)
Filing Stats: 4,799 words · 19 min read · ~16 pages · Grade level 11.9 · Accepted 2024-02-16 19:36:09
Key Financial Figures
- $26,154,892,134 — The Trust's net asset value grew from $26,154,892,134 at December 31, 2022 to $26,424,910,984
- $26,424,910,984 — $26,154,892,134 at December 31, 2022 to $26,424,910,984 at December 31, 2023, the Trust's fisca
- $500,000 — sts, audit fees and expenses, and up to $500,000 per annum in legal fees and expenses. T
- $67,766,849 — bear any interest. The Sponsor earned $67,766,849 for the year ended December 31, 2023. E
Filing Documents
- iau20231231c_10k.htm (10-K) — 772KB
- ex_613793.htm (EX-23.1) — 2KB
- ex_613794.htm (EX-31.1) — 13KB
- ex_613795.htm (EX-31.2) — 13KB
- ex_613796.htm (EX-32.1) — 6KB
- ex_613797.htm (EX-32.2) — 6KB
- ex_613805.htm (EX-97.1) — 31KB
- graph.jpg (GRAPHIC) — 61KB
- 0001437749-24-004670.txt ( ) — 3143KB
- iau-20231231.xsd (EX-101.SCH) — 29KB
- iau-20231231_cal.xml (EX-101.CAL) — 14KB
- iau-20231231_def.xml (EX-101.DEF) — 129KB
- iau-20231231_lab.xml (EX-101.LAB) — 123KB
- iau-20231231_pre.xml (EX-101.PRE) — 153KB
- iau20231231c_10k_htm.xml (XML) — 451KB
Business
Business 1 Item 1A.
Risk Factors
Risk Factors 8 Item 1B. Unresolved Staff Comments 15 Item 1C. Cybersecurity 15 Item 2.
Properties
Properties 16 Item 3.
Legal Proceedings
Legal Proceedings 16 Item 4. Mine Safety Disclosures 16 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 17 Item 6. [Reserved] 18 Item 7.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 7A.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 21 Item 8.
Financial Statements and Supplementary Data
Financial Statements and Supplementary Data 22 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 22 Item 9A.
Controls and Procedures
Controls and Procedures 23 Item 9B. Other Information 23 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 23 PART III Item 10. Directors, Executive Officers and Corporate Governance 24 Item 11.
Executive Compensation
Executive Compensation 24 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 25 Item 13. Certain Relationships and Related Transactions, and Director Independence 25 Item 14. Principal Accounting Fees and Services 25 PART IV Item 15. Exhibits, Financial Statement Schedules 26 Item 16. Form 10-K Summary 26 Table of Contents PART I
Business
Item 1. Business. Summary The purpose of the iShares Gold Trust (the "Trust") is to own gold transferred to the Trust in exchange for shares issued by the Trust ("Shares"). Each Share represents a fractional undivided beneficial interest in the net assets of the Trust. The assets of the Trust consist primarily of gold held by the Trust's custodian on behalf of the Trust. However, there may be situations where the Trust will unexpectedly hold cash. For example, a claim may arise against a third party, which is settled in cash. In situations where the Trust unexpectedly receives cash or other assets, no new Shares will be issued until after the record date for the distribution of such cash or other property has passed. The Trust was formed on January 21, 2005 when an initial deposit of gold was made in exchange for the issuance of three Baskets (a "Basket" consists of 50,000 Shares). The Trust is a grantor trust formed under the laws of the State of New York. The sponsor of the Trust is iShares Delaware Trust Sponsor LLC (the "Sponsor"), a Delaware limited liability company and an indirect subsidiary of BlackRock, Inc. ("BlackRock"). The trustee of the Trust is The Bank of New York Mellon (the "Trustee") and the custodian of the Trust is JPMorgan Chase Bank N.A., London branch (the "Custodian"). The agreement between the Trust and the Custodian is governed by English law. The Trust does not have any officers, directors or employees. The Trust's net asset value grew from $26,154,892,134 at December 31, 2022 to $26,424,910,984 at December 31, 2023, the Trust's fiscal year end. Outstanding Shares of the Trust fell from 760,700,000 Shares outstanding at December 31, 2022 to 677,050,000 Shares outstanding at December 31, 2023. The activities of the Trust are limited to (1) issuing Baskets in exchange for the gold deposited with the Custodian as consideration, (2) selling gold as necessary to cover the Sponsor's fee, Trust expenses not assumed by the Sponsor and oth