What is the primary asset held by SPDR Gold Trust?

The primary asset held by SPDR Gold Trust is gold bullion. As of March 31, 2026, investments in gold constituted approximately 99.93% of the Trust's total assets, valued at $154.99 billion.

How is the Net Asset Value (NAV) of the SPDR Gold Trust calculated?

The NAV of the SPDR Gold Trust is calculated daily by valuing the gold held by the Trust based on the LBMA Gold Price PM. All accrued fees, expenses, and liabilities are then subtracted from the total value of the gold and other assets. The resulting figure is divided by the number of outstanding Shares to determine the NAV per Share.

Does SPDR Gold Trust engage in active trading or hedging of gold?

No, the Trustee of SPDR Gold Trust does not actively manage the gold holdings. It does not sell gold at high prices or buy at low prices, nor does it use hedging techniques. The Trust's objective is to reflect the performance of the price of gold bullion, less expenses.

What is the role of Sponsor Fees and how are expenses paid?

The Sponsor, World Gold Trust Services, LLC, receives a fee that accrues daily at an annual rate of 0.40% of the daily Net Asset Value. These fees cover all ordinary expenses of the Trust. Expenses are primarily paid by selling the minimum amount of gold necessary to cover these costs, rather than from cash reserves.

GLD 10-Q Quarterly Report Q2 FY2026 — Revenue, Net Income, EPS

Summary

SPDR Gold Trust (GLD) reported its financial condition as of March 31, 2026, and its results of operations for the three and six months ended on that date. The Trust holds a substantial amount of gold, with its primary asset being "Investments in Gold, at fair value," valued at approximately $155 billion as of March 31, 2026. This represents nearly the entirety of its total assets, which stood at $155.17 billion. The Trust's Net Assets were $155.11 billion, with a Net Asset Value (NAV) per Share of $423.34. For the six months ended March 31, 2026, the Trust experienced a net increase in Net Assets of $25.72 billion resulting from operations. This was driven by significant net realized and unrealized gains on its gold holdings, amounting to $26.02 billion, which more than offset the net investment loss and sponsor fees. The Trust's operations are characterized by the creation and redemption of Shares in exchange for gold, with substantial activity observed in both for the reporting period. The Trust continues to operate as a single segment, with its objective being to reflect the performance of the price of gold bullion.

Financial Highlights

10 data points

Beta

Net Income

$10.22B

EPS (Diluted)

$27.18

Total Assets

$155.17B

Cash & Equivalents

$0.00

Free Cash Flow

$0.00

Financial Statements

Beta

Operating Expenses	$165.65M
Net Income	$10.22B
EPS (Basic)	$27.18
Shares Outstanding (Basic)	376.09M

Key Highlights

1As of March 31, 2026, SPDR Gold Trust held approximately $155 billion in gold investments, constituting 99.93% of its total assets.
2The Net Asset Value (NAV) per Share stood at $423.34 as of March 31, 2026, an increase from $352.09 as of September 30, 2025.
3For the six months ended March 31, 2026, the Trust reported a net increase in Net Assets of $25.72 billion resulting from operations.
4The Trust saw significant activity in Share creations and redemptions, with net creations of 12.7 million Shares and a net increase in value of $4.86 billion in Shares during the six months ended March 31, 2026.
5Total expenses for the six months ended March 31, 2026, were $306.06 million, primarily comprising sponsor fees.
6The Trust's operations involve the direct exchange of gold for creations and redemptions of Shares, with no cash balances held at period end as gold is sold to cover expenses.
7The fair value of the Trust's gold holdings is determined using the LBMA Gold Price PM, reflecting the Trust's direct exposure to the price of gold bullion.

SPDR GOLD TRUST Quarterly Report for Q2 Ended Mar 31, 2026

Summary

Financial Highlights

Key Highlights

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