BAR — what changed in the latest 10-Q
A section-by-section comparison of BAR'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 · 2026-05-08 vs the prior 10-Q · 2026-02-04
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +5 | −6 | ~2 | 7 |
| Controls & procedures | No paragraph-level changes | 0 | 0 | 0 | 2 |
| Risk factors | Text added/removed | 0 | 0 | ~1 | 0 |
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): Market risk (Item 3), Legal proceedings, Other information
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 · 2026-05-08
The 6.93% increase in the Trust’s net asset value per share, from $42.45 on December 31, 2025, to $45.39 on March 31, 2026, is related to the increase in the price of gold.
The Trust’s net asset value per share increased less than the price of gold on a percentage basis due to the Sponsor’s fees, which were $728,496 for the quarter, or 0.043% of the Trust’s average weighted net assets of $1,690,316,820 during the quarter. The net asset value per share of $53.25 on Janu…
Net increase in net assets resulting from operations for the quarter ending March 31, 2026, was $101,342,616, resulting from an unrealized gain on investment in gold bullion of $89,760,616 increased by a gain of $12,310,496 on metal sold to cover the redemption orders and the Sponsor’s fees but redu…
The Trust’s net asset value per share increased less than the price of gold on a percentage basis due to the Sponsor’s fees, which were $1,863,590 for the period, or 0.131% of the Trust’s average weighted net assets of $1,421,163,490 during the nine-month period. The net asset value per share of $53…
The net increase in net assets resulting from operations for the 9 months period ending March 31, 2026 was $443,528,965, resulting from an unrealized gain on investment in gold bullion of $424,477,371, increased by a gain of $20,915,184 on metal sold to cover the redemption orders and the Sponsor’s …
Text removed vs the prior filing · source: 10-Q · 2026-02-04
The Trust’s net asset value increased from $1,285,913,636 on September 30, 2025, to $1,492,121,494 on December 31, 2025, a 16.0% increase. The increase in the Trust’s net asset value was due to a 12.6% increase in gold price from $3,825.30 on September 30, 2025, to $4,307.95 on December 31, 2025, as…
The 12.57% increase in the Trust’s net asset value per share, from $37.71 on September 30, 2025, to $42.45 on December 31, 2025, is directly related to the 12.6% increase in the price of gold.
The Trust’s net asset value per share increased slightly less than the price of gold on a percentage basis due to the Sponsor’s fees, which were $626,724 for the quarter, or 0.044% of the Trust’s average weighted net assets of $1,423,879,427 during the quarter. The net asset value per share of $44.1…
The net increase in net assets resulting from operations for the quarter ended December 31, 2025, was $162,747,321, resulting primarily from an unrealized gain on investment in gold bullion of $163,047,183, a gain of $326,862 on metal sold to cover the Sponsor’s fees but decreased by the Sponsor’s f…
The Trust’s net asset value per share increased slightly less than the price of gold on a percentage basis due to the Sponsor’s fees, which were $1,135,094 for the period, or 0.088% of the Trust’s average weighted net assets of $1,289,512,405 during the six-month period. The net asset value per shar…
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