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iShares Gold TrustIAU

Sector
Other
Industry
Commodity Contracts Brokers & Dealers
Exchange
NYSE

Stock Price $IAU

Latest filings

Filing record · 2016–202610-K1110-Q328-K11

IAU filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 11 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Dec ’16Dec ’16
  2. Leadership change8-K · Jul ’19Jul ’19
  3. Leadership change8-K · Jun ’22Jun ’22
  4. FY2024 annual report10-K · Feb ’25Feb ’25

01—Key figures

Last reported FY2013

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  3. −$606.3M
YoY changeLargest recent move−41.7%in FY12Latest −475.0%

1 older move runs past ±150% (largest −475.0%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2013Click a bar to open its SEC filing

View full history →
All IAU Financial Metrics16 metrics

Income Statement5

Balance Sheet7

Cash Flow2

Per Share2

02—Overview

iShares Gold Trust Financial Overview 2021–2025

Updated Nov 3, 2026

Driven by a massive 65.00% surge in gold prices to $4,307.95a per ounce, the iShares Gold Trust (IAU) saw its net asset value explode by 107.48% in FY2025. Because the Trust operates as a purely passive investment vehicle holding physical bullion, this dramatic expansion highlights its core investment thesis: providing direct, highly correlated exposure to global gold momentum without the operational variables of active management.

The fund's financial trajectory has completely reversed following years of early-decade contraction. Net asset value grew from $28.72 billion in FY2021 to $68.38 billionb in FY2025. This recent asset boom was not purely price-driven, as fresh capital flowed heavily into the trust. Outstanding shares jumped from 668.65 million to 842.85 million during FY2025, signaling fierce creation activity from authorized participants. By the close of FY2025, shares traded at $81.17.

Operating costs remain structural and lean, anchored by a fixed 0.25% annual sponsor fee that slowly dilutes physical bullion backing over time. This low-cost efficiency allowed the trust to capture ongoing commodity momentum, pushing total assets even higher to $70.6 billionc by the end of Q1 2026. This quarterly growth materialized despite outstanding shares pulling back to 814.1 million due to net redemptions, underscoring how heavily absolute price action dictates the trust's overall market footprint.

Recent Developments (Q1 and Q2 2026)

Gold reversed in Q2 2026. After a 6.97% gold price gain in Q1 2026, the Trust posted a $8.99 billiond quarterly decline in net assets from operations, driven by unrealized losses on bullion. Net assets fell to $60.09 billion by June 30, 2026, and NAV per share dropped to $75.72 from $86.73 at the end of Q1 2026.

Redemptions continued. Outstanding shares fell to 793.6 million, down from 814.1 million three months earlier. The sponsor's fee was $43.4 millione in Q2 2026, against $47.4 million in Q1 2026, tracking the smaller asset base.

Bull case: Q1 2026 showed gold can rebound quickly, and the Trust still holds fully backed bullion. Bear case: two straight quarters of net redemptions show investors are taking profits. The shares closed at $79.87 as of August 5, 2026, the filing date, a 5.5% premium to Q2 2026 NAV. That premium reflects the price on that date, not today.

What to watch: gold price direction after June 2026; whether share redemptions continue in Q3 2026

03—Filings

Recent SEC Filings

  1. 8-KiShares Gold Trust 8-K Report, Executive Changes (Mar 31, 2026)This 8-K filing by iShares Gold Trust (IAU) primarily announces significant leadership changes within its sponsor, iShares Delaware Trust Sponsor LLC. Effective March 27, 2026, Jay Jacobs has been appointed to the Board of Directors and also assumes the roles of President and Chief Executive Officer of the Sponsor. Mr. Jacobs brings extensive experience in the ETF industry, having held senior positions at BlackRock, Inc., including his current role as U.S. Head of Equity ETFs. His background also includes founding and leading research and strategy at Global X ETFs and prior experience at the New York Stock Exchange. Concurrently, Shannon Ghia has resigned from her positions as Director, President, and Chief Executive Officer of the Sponsor. The filing explicitly states that Ms. Ghia's departure was amicable and not due to any disagreements regarding the Trust's operations or policies. These leadership transitions are material for investors as they reflect potential shifts in strategic direction and operational oversight for the Trust, which is backed by iShares Delaware Trust Sponsor LLC.
  2. 8-KiShares Gold Trust 8-K Report, Executive Changes (Apr 26, 2024)iShares Gold Trust (IAU) has filed an 8-K report on April 26, 2024, primarily detailing changes in its Board of Directors. Lindsey Haswell has been appointed to the Board of Directors of the Sponsor, iShares® Delaware Trust Sponsor LLC, and also appointed to the Sponsor's Audit Committee. Ms. Haswell brings extensive legal and administrative experience from various technology and crypto-asset companies, including MoonPay and Blockchain.com, which may be viewed as bringing a contemporary perspective to the Trust's governance.
  3. 8-KiShares Gold Trust 8-K Report, Executive Changes (Jun 6, 2022)This 8-K filing reports significant leadership changes within the Sponsor of the iShares Gold Trust (IAU). Effective June 3, 2022, Shannon Ghia has been appointed as the new President and CEO of the Sponsor, and Bryan Bowers has been appointed as the new Chief Financial Officer of the Sponsor. Mr. Bowers has also been appointed to the Sponsor's Board of Directors. These appointments follow the resignations of Paul Lohrey (President, CEO, and Director) and Trent W. Walker (CFO), effective the same date. The filing explicitly states that these resignations were not due to any disputes with the Trust. Investors should note the extensive experience of Ms. Ghia and Mr. Bowers within BlackRock's ETF and financial operations, suggesting a continuation of established operational practices.
  4. 8-KiShares Gold Trust 8-K Report, Executive Changes (Mar 8, 2022)iShares Gold Trust (IAU) filed an 8-K report on March 7, 2022, announcing a change in the Directorship of its sponsor, iShares® Delaware Trust Sponsor LLC. Shannon Ghia was appointed as a Director, effective March 2, 2022, replacing Rachel Aguirre. Ms. Ghia brings extensive experience from BlackRock, where she currently serves as Global Co-Head of ETF Markets, overseeing teams focused on investment integrity and product development within BlackRock's ETF and Index Investing organization. This leadership change within the sponsor entity is the primary information conveyed in this filing. Investors in IAU should note Ms. Ghia's background in ETF markets and product engineering, which suggests a continued focus on the operational integrity and market quality of the Trust's offerings. The departure of Ms. Aguirre was stated to be without any dispute or disagreement with the Trust.
  5. 8-KiShares Gold Trust 8-K Report, Material Agreement (Jan 31, 2022)The iShares Gold Trust (IAU) filed an 8-K on January 31, 2022, reporting a significant update to its governing agreement. The Trust, through its Sponsor iShares Delaware Trust Sponsor LLC and Trustee The Bank of New York Mellon, entered into a Fifth Amended and Restated Depositary Trust Agreement. This amendment is notable for two primary reasons: it transforms the Trust's term into a perpetual one, ensuring its continued operation indefinitely, and it increases the annual amount of legal fees and expenses the Sponsor will assume, from $100,000 to $500,000.
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04—See also

Related Companies

Annual revenue over each company’s last eight fiscal years, each strip on its own scale from zero.