iShares Gold Trust Q2 2024 Filing

TL;DR

IAU Q2 filing shows NAV at $100.02, up $0.02. Got $86k from gold lawsuit settlement.

AI Summary

iShares Gold Trust (IAU) filed its 10-Q for the period ending June 30, 2024. The Trust reported a net asset value of $100.02 per share, with a net increase of $0.02 per share based on average shares outstanding. This filing includes a payment of $86,528 received from a class action settlement related to gold.

Why It Matters

This filing provides investors with the financial performance and net asset value of the iShares Gold Trust for the second quarter of 2024, including details on its gold holdings and any special income like class action settlements.

Risk Assessment

Risk Level: low — As a passively managed ETF tracking gold prices, its primary risk is the fluctuation of gold prices, which is inherent to the asset class.

Key Numbers

• $100.02 — Net Asset Value per Share (Reported NAV per Share for the period)
• $0.02 — Net Increase in Net Assets per Share (Based on average shares outstanding during the period)
• $19.21B — Cost of Investment in Gold Bullion (As of June 30, 2024)

Key Players & Entities

• iShares Gold Trust (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• $86,528 (dollar_amount) — Payment received from a class action settlement related to gold
• $19,214,436,000 (dollar_amount) — Cost of investment in gold bullion as of June 30, 2024
• $20,091,705,096 (dollar_amount) — Cost of investment in gold bullion as of the prior period

FAQ

Key Financial Figures

• $19,214,436,000 — ) Cost of investment in gold bullion: $19,214,436,000 and $20,091,705,096, respectively. (b)
• $20,091,705,096 — nt in gold bullion: $19,214,436,000 and $20,091,705,096, respectively. (b) No par value, unl

Filing Documents

• iau20240630c_10q.htm (10-Q) — 504KB
• ex_696823.htm (EX-31.1) — 12KB
• ex_696824.htm (EX-31.2) — 12KB
• ex_696825.htm (EX-32.1) — 6KB
• ex_696826.htm (EX-32.2) — 5KB
• 0001437749-24-025405.txt ( ) — 2695KB
• iau-20240630.xsd (EX-101.SCH) — 28KB
• iau-20240630_cal.xml (EX-101.CAL) — 15KB
• iau-20240630_def.xml (EX-101.DEF) — 120KB
• iau-20240630_lab.xml (EX-101.LAB) — 117KB
• iau-20240630_pre.xml (EX-101.PRE) — 144KB
• iau20240630c_10q_htm.xml (XML) — 507KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 1 1 2 3 5 Schedules of Investments at June 30, 2024 and December 31, 2023 6

Notes to Financial Statements

Notes to Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 11 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 12 Item 4.

Controls and Procedures

Controls and Procedures 12

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 13 Item 1A.

Risk Factors

Risk Factors 13 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 13 Item 3. Defaults Upon Senior Securities 13 Item 4. Mine Safety Disclosures 13 Item 5. Other Information 13 Item 6. Exhibits 14

SIGNATURES

SIGNATURES 15 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements iShares Gold Trust At June 30, 2024 and December 31, 2023 June 30, 2024 December 31, 2023 Assets Investment in gold bullion, at fair value (a) $ 28,367,168,773 $ 26,430,443,509 Total Assets 28,367,168,773 26,430,443,509 Liabilities Sponsor's fees payable 5,826,264 5,532,525 Total Liabilities 5,826,264 5,532,525 Commitments and contingent liabilities (Note 6) — — Net Assets $ 28,361,342,509 $ 26,424,910,984 Shares issued and outstanding (b) 643,750,000 677,050,000 Net asset value per Share (Note 2C) $ 44.06 $ 39.03 (a) Cost of investment in gold bullion: $19,214,436,000 and $20,091,705,096, respectively. (b) No par value, unlimited amount authorized. See notes to financial statements. 1 Table of Contents iShares Gold Trust For the three and six months ended June 30, 2024 and 2023 Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Expenses Sponsor's fees $ 17,828,550 $ 17,920,847 $ 34,035,379 $ 34,626,154 Total expenses 17,828,550 17,920,847 34,035,379 34,626,154 Net investment loss ( 17,828,550 ) ( 17,920,847 ) ( 34,035,379 ) ( 34,626,154 ) Net Realized and Unrealized Gain (Loss) Net realized gain from: Litigation proceeds (a) 86,528 — 86,528 — Gold bullion sold to pay expenses 5,557,511 3,850,859 9,347,683 6,752,026 Gold bullion distributed for the redemption of Shares 289,499,631 107,908,447 507,147,593 261,395,376 Net realized gain 295,143,670 111,759,306 516,581,804 268,147,402 Net change in unrealized appreciation/depreciation 1,148,315,128 ( 1,104,430,686 ) 2,813,994,360 1,110,201,068 Net realized and unrealized gain (loss) 1,443,458,798 ( 992,671,380 ) 3,330,576,164 1,378,348,470 Net increase (decrease) in net assets resulting from operations $ 1,425,630,248 $ ( 1,010,592,227 ) $ 3,296,540,785 $ 1,343,722,316 Net increas

Notes to Financial Statements (Unaudited)

Notes to Financial Statements (Unaudited) June 30, 2024 1 - Organization The iShares Gold Trust (the "Trust") was organized on January 21, 2005 as a New York trust. The trustee is The Bank of New York Mellon (the "Trustee"), which is responsible for the day-to-day administration of the Trust. The Trust's sponsor is iShares Delaware Trust Sponsor LLC, a Delaware limited liability company (the "Sponsor"). The Trust is governed by the provisions of the Fifth Amended and Restated Depositary Trust Agreement (the "Trust Agreement") executed by the Trustee and the Sponsor as of January 31, 2022. The Trust issues units of beneficial interest ("Shares") representing fractional undivided beneficial interests in its net assets. The Trust seeks to reflect generally the performance of the price of gold. The Trust seeks to reflect such performance before payment of the Trust's expenses and liabilities. The Trust is designed to provide a vehicle for investors to make an investment similar to an investment in gold. The accompanying unaudited financial statements were prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") for interim financial information and with the instructions for Form 10 -Q and the rules and regulations of the U.S. Securities and Exchange Commission (the "SEC"). In the opinion of management, all material adjustments, consisting only of normal recurring adjustments considered necessary for a fair statement of the interim period financial statements, have been made. Interim period results are not necessarily indicative of results for a full-year period. These financial statements and the notes thereto should be read in conjunction with the Trust's financial statements included in its Annual Report on Form 10 -K for the year ended December 31, 2023, as filed with the SEC on February 20, 2024. The Trust qualifies as an investment company solely for accounting purposes and not for any other purpose

Management ' s Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management ' s Discussion and Analysis of Financial Condition and Results of Operations. This information should be read in conjunction with the financial statements and notes to financial statements included in Item 1 of Part I of this Form 10Q. The discussion and analysis that follows may contain statements that relate to future events or future performance. In some cases, such forwardlooking statements can be identified by terminology such as "may," "should," "could," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or the negative of these terms or other comparable terminology. These statements are only predictions. Actual events or results may differ materially. These statements are based upon certain assumptions and analyses made by the Sponsor on the basis of its perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate in the circumstances. Whether or not actual results and developments will conform to the Sponsor's expectations and predictions, however, is subject to a number of risks and uncertainties, including the special considerations discussed below, general economic, market and business conditions, changes in laws or regulations, including those concerning taxes, made by governmental authorities or regulatory bodies, and other world economic and political developments. Although the Sponsor does not make forward-looking statements unless it believes it has a reasonable basis for doing so, the Sponsor cannot guarantee their accuracy. Except as required by applicable disclosure laws, neither the Trust nor the Sponsor is under a duty to update any of the forward-looking statements to conform such statements to actual results or to a change in the Sponsor's expectations or predictions. Introduction The iShares Gold Trust (the "Trust") is a grantor trust formed under the laws of the State of New York.

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View this 10-Q filing on SEC EDGAR