IAU 10-K Annual Reports

ISHARES GOLD TRUST (IAU) filed its 10-K for the fiscal year ending December 31, 2025, reporting a significant increase in its net asset value, which rose by 107.48% to $68,376,501,330. This growth was primarily driven by a substantial 65.00% surge in the price of gold, which reached $4,307.95 per ounce by year-end. The Trust's objective is to mirror the performance of gold prices, and it achieved this by increasing its outstanding shares from 668,650,000 to 842,850,000, reflecting significant creation activity against redemptions. The Trust operates as a passive investment vehicle, with its primary assets being physical gold bullion held by a custodian. The Sponsor, iShares Delaware Trust Sponsor LLC, a subsidiary of BlackRock, assumes most of the Trust's operational expenses, with its fees amounting to $124,023,218 for the year, representing 0.25% of the Trust's average assets. While the Trust aims to reflect gold's performance, investors should note that shares may trade at a premium or discount to their net asset value due to market supply and demand dynamics and differing trading hours between gold markets and the NYSE Arca.

iShares Gold Trust (IAU) has filed its annual report for the period ending December 30, 2024. The Trust's primary objective is to reflect the performance of the price of gold, holding physical gold as its main asset. Over the fiscal year 2024, the Trust's net asset value grew by approximately 24.71%, reaching $32,955,472,597, driven by a significant increase in gold prices. The number of outstanding Shares saw a slight decrease, indicating net redemptions during the year. Key operational aspects include the daily valuation of gold based on the LBMA Gold Price PM and the accrual of a Sponsor's fee at an annualized rate of 0.25% of net asset value. The Sponsor covers most administrative and marketing expenses, making the Sponsor's fee the primary recurring cost. The report also details risks associated with gold price volatility, operational disruptions, cybersecurity threats, and potential conflicts of interest, emphasizing that the Trust is a passive investment vehicle whose performance is directly tied to the price of gold.

iShares Gold Trust (IAU) provides investors with a cost-effective and accessible way to gain exposure to the price performance of gold. The Trust holds physical gold bullion, with each Share representing a fractional undivided beneficial interest in the Trust's assets. The primary objective is to reflect the price of gold, less the Trust's expenses. For the year ended December 31, 2023, the Trust saw a net asset value increase of 1.03%, largely driven by a 13.80% rise in the price of gold. The number of outstanding Shares decreased, indicating more redemptions than creations during the year. The Trust's main expense is the Sponsor's fee, which was $67.77 million for 2023, representing 0.25% of average assets. The Trust is not actively managed and relies on the LBMA Gold Price for valuation.

The iShares Gold Trust (IAU) reported a decrease in its net asset value (NAV) from $28,723,023,637 at the end of 2021 to $26,154,892,134 at the end of 2022. This decline was primarily driven by a reduction in outstanding shares, which fell from 829,750,000 to 760,700,000, indicating more redemptions than creations during the year. The trust's objective is to mirror the performance of gold prices, and its assets primarily consist of physical gold held by its custodian. The Sponsor's fee remains the primary expense, amounting to $71,451,301 for 2022, representing an annual rate of 0.25% of the NAV. While the trust aims to track gold prices, investors should be aware that shares can trade at a premium or discount to their NAV due to market supply and demand and the timing of global gold market closures relative to NYSE Arca trading hours. The filing also highlights various risks, including disruptions to the LBMA Gold Price benchmark, potential impacts of governmental decisions on gold prices, the volatility inherent in a single-commodity investment, and the ongoing dilution of gold backing per share due to expenses. Investors should also note that the trust is not registered as an investment company, and shareholders do not have the protections afforded by the Investment Company Act of 1940.

The iShares Gold Trust (IAU) 10-K filing for the period ending December 30, 2021, reveals a trust designed to reflect the performance of the price of gold. The trust's assets primarily consist of physical gold bullion held by its custodian. During 2021, the net asset value of the trust decreased by 10.01%, attributed to a decline in the number of outstanding shares and a slight decrease in the LBMA Gold Price. Key operational aspects include the trust's passive management strategy, with its primary recurring expense being the Sponsor's fee (0.25% of NAV). The trust does not engage in active trading or hedging. The filing also emphasizes the risks associated with gold price volatility, operational failures, cybersecurity threats, and potential conflicts of interest due to the Sponsor's affiliates managing other gold-related funds.

The iShares Gold Trust (IAU) reported a significant increase in its net asset value for the year ended December 31, 2020, growing by 81.06% to $31.92 billion. This growth was driven by both an increase in outstanding Shares and a substantial rise in the LBMA Gold Price PM, which increased by 24.16% over the year. The Trust's objective is to reflect the performance of the price of gold, and it achieved this by holding physical gold bullion in trust, with each Share representing a fractional beneficial interest. The Sponsor, iShares Delaware Trust Sponsor LLC, covers most operational expenses, with the Sponsor's fee being the primary recurring cost, amounting to $65.44 million for 2020.

iShares Gold Trust (IAU) reported a significant increase in its Net Asset Value (NAV) for the fiscal year ended December 31, 2019, growing by 52.70% to $17.63 billion. This growth was driven by both an increase in outstanding shares and a 18.83% rise in the LBMA Gold Price AM. The Trust's objective is to mirror the performance of gold prices, and it achieved this by holding physical gold bullion. The Sponsor, iShares Delaware Trust Sponsor LLC (an indirect subsidiary of BlackRock), continues to manage administrative expenses, with its fee representing the primary ongoing cost for the Trust. For investors, IAU offers a straightforward way to gain exposure to gold prices without the complexities of direct physical ownership. However, the value of IAU shares is directly tied to the fluctuating price of gold, presenting potential for both gains and losses. The Trust's passive nature means it does not actively manage its assets to profit from market movements. Investors should be aware of the ongoing Sponsor's fee of 0.25% and the inherent risks associated with gold price volatility, including the potential for its value to decrease due to market factors, governmental decisions, or operational risks within the Trust's infrastructure.

ISHARES GOLD TRUST (IAU) filed its 2018 annual report on Form 10-K on February 27, 2019. The Trust's primary objective is to reflect the performance of the price of gold, holding physical gold bullion as its main asset. As of December 31, 2018, the Trust's net asset value (NAV) was $11.54 billion, an increase from $10.15 billion at the end of 2017, reflecting a growing investor interest and a favorable market for gold during the period. The Trust's operations are passive, meaning it does not actively manage its gold holdings for profit. Instead, it issues and redeems shares (in Baskets of 50,000 shares) in exchange for physical gold with Authorized Participants. The Sponsor, iShares Delaware Trust Sponsor LLC (an indirect subsidiary of BlackRock), covers most of the Trust's operational expenses in exchange for an annual fee of 0.25% of the NAV. For 2018, the Sponsor's fee amounted to $27.53 million.

ISHARES GOLD TRUST (IAU) reported its annual results for the fiscal year ending December 31, 2017. The Trust, which aims to reflect the performance of the price of gold, saw its net asset value increase by 38.81% to $10,147,507,137, driven by a rise in gold prices and an increase in outstanding shares. The Trust's performance is closely tied to the LBMA Gold Price PM, with the net asset value per share experiencing growth corresponding to the 11.85% increase in gold prices during the year. The Trust operates as a passive investment vehicle, with its primary expense being the Sponsor's fee, which was $21,630,631 for 2017. The Sponsor, iShares Delaware Trust Sponsor LLC, an indirect subsidiary of BlackRock, Inc., covers various administrative and marketing expenses. The Trust does not actively manage its gold holdings and does not engage in activities to profit from price changes. Investors should be aware that the value of the Shares will fluctuate with the price of gold, and the gradual decrease in the amount of gold represented by each Share due to expenses can impact overall returns if not offset by gold price appreciation.

iShares Gold Trust (IAU) reported its annual results for the fiscal year ending December 31, 2016. The Trust's primary objective is to reflect the performance of the price of gold, holding physical gold bullion as its primary asset. During 2016, the Trust experienced significant growth in its net asset value, increasing by 40.31% from $5,209,802,846 to $7,310,131,020. This growth was driven by both an increase in the number of outstanding Shares and a rise in the price of gold. Key operational aspects include the Trust's passive investment strategy, which means it does not actively manage its gold holdings to profit from price changes. Expenses, primarily the Sponsor's fee (0.25% of net asset value), are covered by selling gold. Despite the overall positive net asset value growth, the report highlights various risks inherent in investing in gold, including price volatility, potential disruptions in gold pricing benchmarks, and operational risks associated with the custody and valuation of gold. The Trust's structure as a grantor trust means that income and expenses flow through to shareholders for tax purposes.

iShares Gold Trust (IAU) filed its annual report for the fiscal year ended December 31, 2015, on February 29, 2016. The Trust's primary objective is to reflect the performance of the price of gold, holding physical gold bullion as its primary asset. During 2015, the Trust experienced a decrease in its net asset value from approximately $6.21 billion to $5.21 billion, primarily driven by a decline in gold prices. The number of outstanding shares also decreased. The Trust operates as a passive investment vehicle with limited activities, focused on issuing and redeeming shares in exchange for gold, and selling gold to cover expenses, including the Sponsor's fee. The Sponsor, iShares Delaware Trust Sponsor LLC, a subsidiary of BlackRock, Inc., assumes certain administrative and marketing expenses in exchange for this fee. The NAV per share also saw a decline, reflecting the decrease in gold prices and the impact of the Sponsor's fee.

The iShares Gold Trust (IAU) 10-K filing for the year ended December 31, 2014, indicates a slight decrease in its net asset value (NAV) and outstanding shares compared to the previous year. The Trust's primary objective is to reflect the performance of the price of gold, which it achieves by holding physical gold bullion. The Sponsor, iShares Delaware Trust Sponsor LLC, assumes most of the Trust's operational expenses, including trustee and custodian fees, in exchange for a sponsor fee of 0.25% of the Trust's NAV. Key financial performance metrics show a net loss of $42.4 million for 2014, largely influenced by a decrease in the price of gold and the impact of the sponsor's fee. While the Trust aims to track gold prices, fluctuations in gold markets, potential disruptions to benchmark pricing mechanisms like the London Gold Fix, and the ongoing sale of gold to cover expenses can impact the value of Shares. Investors should note that the Trust is a passive investment vehicle and does not actively manage its gold holdings to mitigate losses.

iShares Gold Trust (IAU) reported a significant decrease in its net asset value (NAV) for the fiscal year ended December 31, 2013, dropping from approximately $11.65 billion in 2012 to $6.27 billion. This decline was primarily driven by a substantial decrease in the price of gold, which fell by 27.79% during the year. Consequently, the number of outstanding Shares also decreased from 719.55 million to 538 million. The Trust's objective is to reflect the price of gold, less expenses. As a passive investment vehicle, it does not actively manage its gold holdings. The primary expense is the Sponsor's fee, which is 0.25% of the NAV. While the Sponsor covers many administrative costs, the Trust must sell gold to cover its own expenses and liabilities, leading to a gradual decrease in the amount of gold represented by each share over time. Investors should be aware that Share prices can trade at a premium or discount to the NAV due to market supply and demand and differing trading hours between gold markets and the NYSE Arca.

The iShares Gold Trust (IAU) 2012 annual report highlights a significant increase in its net asset value, growing by 38.36% to $11.65 billion by year-end. This growth was driven by both an increase in outstanding shares and a rise in the price of gold, as measured by the London PM Fix. The Trust's objective remains to provide investors with a cost-effective way to gain exposure to the price of gold, with its shares backed by physical gold held by a custodian. The report details the Trust's passive investment strategy and the mechanisms for share creation and redemption through Authorized Participants. Key operational and financial aspects for investors include the Sponsor's fee of 0.25% of net asset value, which is the primary recurring expense. The Trust's performance is directly tied to the fluctuations in the gold market, and the report outlines various risk factors associated with this, including potential for losses due to gold price volatility and the gradual decrease in the amount of gold per share due to expense accruals. The Trust also notes its classification as a grantor trust for tax purposes, meaning income and expenses flow through to shareholders.

The iShares Gold Trust (IAU) 2011 10-K report indicates significant growth in its Net Asset Value (NAV), rising from $5.32 billion in 2010 to $8.42 billion by the end of 2011, a notable increase of over 58%. This growth was driven by both an increase in outstanding Shares, which grew to 563.85 million, and a rise in the price of gold, as measured by the London PM Fix, which appreciated by 8.93% during the year. The Trust operates as a passive investment vehicle, designed to track the price of physical gold, less expenses. The Trust's primary recurring expense is the Sponsor's fee, which was 0.25% of the adjusted NAV. BlackRock Asset Management International Inc. serves as the Sponsor, with The Bank of New York Mellon as Trustee and JPMorgan Chase Bank, N.A., London branch as Custodian. While the Sponsor covers many administrative costs, the Trust must sell gold to cover its own expenses, leading to a gradual decrease in the amount of gold represented by each share over time. Investors should be aware that the value of their investment is directly tied to the volatile price of gold and the dilution effect of ongoing expenses.

The ISHARES GOLD TRUST (IAU) 2010 10-K report reveals a year of significant growth, with the Trust's net asset value increasing by 90.38% to $5.3 billion, driven by both an increase in outstanding Shares and a rise in the price of gold. Key operational highlights include a substantial increase in outstanding Shares from 260 million to 387 million, reflecting strong investor demand for gold exposure. The Trust's objective remains to mirror the price of gold bullion it holds, less expenses. The change in custodian from The Bank of Nova Scotia to The Bank of New York Mellon in September 2010 and the adoption of the London PM Fix for gold valuation are notable operational shifts. Investors should note that while the Trust aims to track gold prices, its net asset value per share increased slightly less than the price of gold due to sponsor fees, though the Trust's expenses are relatively low, with the Sponsor covering most administrative costs.

The iShares Gold Trust (IAU), as of December 31, 2009, reported total assets of approximately $1.91 billion, a significant increase from the previous year, reflecting the growing investor interest in gold as an asset class. The Trust's objective is to provide investors with a cost-effective and accessible way to invest in physical gold, with its shares designed to track the price of gold less the Trust's expenses. During 2009, the Trust saw substantial growth in both its net asset value and outstanding shares, driven by a rise in the COMEX Spot Settlement Price for gold and increased creation of new shares by Authorized Participants. The Trust operates as a passive investment vehicle, holding physical gold with its value primarily determined by the COMEX settlement price. While the Sponsor, BlackRock Asset Management International Inc., assumes many administrative costs, a nominal sponsor's fee is charged, necessitating the sale of small amounts of gold to cover these expenses. This ongoing expense management, coupled with gold price volatility and potential market trading discrepancies, presents key considerations for investors.

The iShares COMEX Gold Trust (IAU) 2008 annual report reveals a significant increase in the Trust's net assets and outstanding shares, reflecting investor interest in gold as an asset class during that period. The Trust's primary objective is to mirror the price of gold bullion held by the Trust, less expenses. During 2008, the Trust saw its net assets grow by 28.02% to $1.896 billion, with outstanding shares increasing to 21.8 million. Key operational aspects include the Trust's passive investment strategy, where gold is held by a custodian and shares are issued or redeemed in exchange for gold, primarily through Authorized Participants. The Trust's valuation is based on the COMEX spot settlement price for gold futures. While the Trust aims to track gold prices, it is subject to various risks, including gold price volatility, potential declines in gold value due to large sales or shifts in investor sentiment, and the inherent cost of expenses reducing the amount of gold per share over time.

This filing is an amendment to the iShares Gold Trust (IAU) 2007 annual report, primarily adding details on U.S. federal income tax consequences and filing executed agreements. The Trust's objective is to provide investors with a cost-effective way to gain exposure to the price of gold, backed by physical gold held by a custodian. The net assets of the Trust grew significantly from $907.7 million in 2006 to $1.48 billion in 2007, with outstanding shares increasing proportionally. The Trust is passively managed and does not aim to profit from gold price fluctuations but rather to reflect the underlying gold's value, less expenses. Investors should be aware that while iShares are designed to track the price of gold, they may trade at a premium or discount to their Net Asset Value (NAV) due to market supply and demand, and differing trading hours between gold markets and the AMEX. The value of iShares is directly tied to the price of gold, which can be volatile. Furthermore, ongoing trust expenses, primarily the sponsor's fee, are paid by selling gold, which gradually reduces the amount of gold backing each iShare. This dilution necessitates gold price appreciation to maintain or increase the iShare's value.

The iShares Gold Trust (IAU), as reported in its February 26, 2008, 10-K filing for the period ending December 31, 2007, offers investors a passive investment vehicle designed to track the price of gold. The trust's primary assets consist of physical gold held by a custodian, with each iShare representing a beneficial interest in these net assets. The trust's objective is for the iShares' value to reflect the price of gold held, less trust expenses and liabilities, providing a cost-effective and accessible way for investors to gain exposure to the gold market without the complexities of holding physical gold. During fiscal year 2007, the trust experienced significant growth, with net assets increasing from $907,668,832 to $1,481,289,446, and outstanding shares rising from 14,400,000 to 17,950,000. This growth was driven by an increase in the price of gold, which rose approximately 31.44% based on the COMEX Spot Settlement Price. Despite the overall asset growth, the trust reported a net loss of $507,145 for the year, primarily due to sponsor's fees of $4,276,778, which are paid by selling trust assets.

The ISHARES GOLD TRUST (IAU) 2006 annual report highlights its primary objective: to provide investors with a cost-effective and accessible way to gain exposure to the price of gold. The Trust holds physical gold, with its shares representing a fractional beneficial interest in the trust's net assets. As of December 31, 2006, the trust's net assets grew significantly to $907,668,832 from $368,339,392 in the prior year, with outstanding shares increasing from 7,150,000 to 14,400,000. The trust is a passive investment vehicle, not actively managed to profit from gold price changes. Its value is directly tied to the market price of gold, less trust expenses. The report details the valuation methodology using COMEX settlement prices and outlines trust expenses, primarily the sponsor's fee (0.40% of net assets), which necessitates the sale of gold to cover costs, thereby gradually reducing the amount of gold per share. Investors should be aware of the inherent risks associated with gold price volatility and the potential for iShares to trade at a discount or premium to their net asset value.

The iShares Gold Trust (IAU), as detailed in its March 31, 2006, 10-K filing, was established on January 21, 2005, to provide investors with a cost-effective and accessible way to invest in gold. The trust's primary objective is for the iShares' value to reflect the price of gold owned by the trust, less expenses and liabilities. Assets consist primarily of physical gold held by a custodian, with iShares representing a fractional beneficial interest. For the period ending December 31, 2005, the trust experienced significant growth, with net assets increasing from $6.4 million at inception to $368.3 million. Outstanding shares also grew substantially. The trust operates passively, meaning it does not actively manage its gold holdings to profit from market movements. Its activities are limited to issuing iShares for gold deposits, selling gold to cover expenses, and delivering gold for iShare redemptions. The sponsor, Barclays Global Investors, N.A., assumes most administrative and marketing expenses, offset by a sponsor's fee. Investors should be aware that iShares' value is directly tied to gold prices, which are inherently volatile, and that ongoing expenses will gradually decrease the amount of gold represented per share.