OUNZ — what changed in the latest 10-Q
A section-by-section comparison of OUNZ's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-09-08 vs the prior 10-Q · 2026-06-04
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +6 | −1 | ~8 | 35 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
| Other information | Text added/removed | 0 | 0 | ~1 | 1 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings, Risk factors
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-09-08
The Six Months Ended July 31, 2026 Compared to the Six Months Ended July 31, 2025
The Trust’s NAV decreased from $2,903,285,926 at January 31, 2026 to $2,537,708,291 at July 31, 2026, a 12.59% decrease, compared to a 34.13% increase from $1,314,597,389 at January 31, 2025 to $1,763,218,226 at July 31, 2025. The decrease in the Trust’s NAV in the six months ended July 31, 2026 res…
The Trust’s NAV per Share decreased approximately 16.37% during the six months ended July 31, 2026, starting at $46.56 per Share and ending at $38.94 per Share, compared to an increase of 17.40%, from $27.01 to $31.71 during the six months ended July 31, 2025. The Trust’s NAV per share decreased sli…
The change in net assets from operations for the six months ended July 31, 2026 was $(491,683,936), resulting from the Sponsor’s fees of $(3,478,886), a net realized gain of $19,872,192 from gold bullion distributed for redemptions and a net change in unrealized depreciation on investment in gold bu…
Other than the Sponsor’s fee, the Trust had no expenses during the six months ended July 31, 2026 or the six months ended July 31, 2025.
Text removed vs the prior filing · source: 10-Q · 2026-06-04
For the calendar quarter ended March 31, 2026, the Marketing Agent earned a fee of $537,257; since the initiation of the Marketing Agent’s efforts on behalf of the Trust on October 22, 2015, a total of $3,557,472 in Fees has been paid, representing 2.08% of the Maximum Fee potentially payable to the…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice