Here are the 10-Q quarterly reports from Goldman Sachs Physical Gold ETF Shares (AAAU) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow AAAU and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full AAAU filings page.
Goldman Sachs Physical Gold ETF (AAAU) reported net assets of $2,684,101,018 at September 30, 2026, backed by 642,797.3 ounces of gold valued at $2,684,514,473. Net asset value was $41.16 per share. NAV total return was 3.67% for the third quarter and negative 3.18% for the first nine months of 2026.
Net assets from operations increased $79,175,540 in the quarter, compared with $264,732,294 a year earlier; over nine months, operations reduced net assets by $109,828,740, versus a $522,726,915 increase in 2025. The nine-month 2026 result included $199,154,778 of unrealized depreciation on gold. Gold was priced at $4,176.30 per Fine Ounce at quarter-end, up 3.73% from June 30 and down 4.38% from December 30, 2025. The passively managed Trust aims to reflect gold’s price less expenses, charges an annualized Sponsor Fee of 0.18% of NAV, and creates or redeems shares in blocks of at least 25,000 shares for gold.
Goldman Sachs Physical Gold ETF reported that net assets were $2.40 billion at June 30, 2026, backed by 596,175.4 ounces of physical gold held at JPMorgan’s London vault. Shares outstanding were 60,455,722, with a net asset value of $39.70 per share, down from $42.51 at December 31, 2025.
Performance reflected weaker gold prices. The LBMA PM gold price ended the quarter at $4,026.05/oz, a decline of 12.64% from $4,608.35 on March 31, 2026 and 7.82% below $4,367.80 on December 30, 2025. For the three months, total return was (12.67)% at NAV and (14.33)% at market; year-to-date total return was (6.61)% at NAV.
The Trust realized $87.0 million in gains on gold distributed for redemptions over six months, but a $(273.2 million) unrealized loss on its gold holdings drove a $(189.0 million) decrease in net assets from operations. Operating costs remain low: the Sponsor Fee is 0.18% annually of NAV and is the only recurring expense, with the expense ratio at 0.18%. Management reported effective disclosure controls and no material changes in internal control or risk factors.
Goldman Sachs Physical Gold ETF reports unaudited results for the three months ended March 31, 2026, showing performance driven by moves in the gold price. Net assets rose to $2.82 billion with 611,991.8 ounces of gold held at period end.
Net asset value per share increased from $42.51 to $45.46, with a total return of 6.94% at NAV and 8.55% at market price. The Trust recorded a net increase in net assets from operations of $164.1 million, almost entirely from realized and unrealized gains on gold, offset by a Sponsor Fee of $1.31 million.
The ETF created 2,926,000 shares and redeemed 700,000 shares during the quarter, ending with 62,030,722 shares outstanding. Gold’s LBMA PM price ended at $4,608.35 per ounce, up 5.51% from December 31, 2025, and the Trust continued to operate as a passive, physically backed grantor trust.
Goldman Sachs Physical Gold ETF (AAAU) reported strong 2025 Q3 results tied to higher gold prices. Net assets reached $1,969,759,192 with a NAV per share of $37.77 as of September 30, 2025. The Trust held 515,000.3 ounces of gold valued at $1,970,030,751, up from $889,742,864 at year-end 2024. Gold ended the period at $3,825.30/oz, lifting performance.
For the quarter, total return was 16.32% at NAV (market return 16.65%). Year to date, total return was 46.34% at NAV (market 46.95%). Net increase in net assets from operations was $264.7 million for Q3 and $522.7 million for the nine months, driven by unrealized appreciation on gold.
Fund flows expanded the vehicle: Q3 creations were 4,600,000 shares (184 Baskets) with no redemptions; year to date, creations were 19,338,722 shares and redemptions 1,650,000 shares. The Sponsor fee ran at an annualized 0.18%, the Trust’s only ordinary expense. Shares outstanding were 56,704,722 as of November 3, 2025.