Overview
$1.1BNet income, fiscal 20262
- TickerOUNZ on NYSE1
- IndustryCommodity Contracts Brokers & Dealers1
- HeadquartersNew York, New York1
- Incorporated inNY3
- Business address240 Greenwich Street, 22W, New York, Ny 102863
- Filer categoryLarge accelerated filer3
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South African output has been declining while other countries have expanded gold mining considerably.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2026
37.6%Return on equity2
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.2
| Period ending | 2026-01-31 | 2025-01-31 | 2024-01-31 |
|---|---|---|---|
| Sponsors fees | $4.8M | $2.6M | $1.8M |
| Total expenses | $4.8M | $2.6M | $1.8M |
| Net investment loss | -$4.8M | -$2.6M | -$1.8M |
| Net realized gain from gold bullion distributed for redemptions | $12.3M | $2.8M | $3.4M |
| Net change in unrealized appreciation (depreciation) on investment in gold bullion | $1.1B | $312.9M | $36.3M |
| Net realized and unrealized gain (loss) from operations | $1.1B | $315.7M | $39.7M |
| Net Increase (Decrease) in Net Assets resulting from operations | $1.1B | $313.1M | $37.9M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 6 quarters (quarterly), latest first.2
| Period ending | 2026-01-31 | 2025-01-31 | 2024-01-31 | 2023-01-31 | 2022-01-31 |
|---|---|---|---|---|---|
| Investments in gold bullion (cost $1,384,168,533 and $880,891,128, respectively) | $2.9B | $1.3B | |||
| Capital shares receivable | $13.8M | ||||
| Gold bullion sold receivable | $108.0K | ||||
| Total Assets | $2.9B | $1.3B | |||
| Capital shares payable | $108.0K | ||||
| Gold bullion purchased payable | $13.5M | ||||
| Sponsors fee payable | $6 | $252.1K | |||
| Total Liabilities | $108.0K | $13.8M | |||
| Net Assets | $2.9B | $1.3B | $780.2M | $656.6M | |
| Paid-in-capital | $1.4B | $878.4M | |||
| Accumulated earnings | $1.5B | $436.2M | |||
| Net Assets | $2.9B | $1.3B | |||
| Shares issued (in Shares) | 62.4M shares | 48.7M shares | |||
| Shares outstanding (in Shares) | 62.4M shares | 48.7M shares | 39.6M shares | 35.2M shares | |
| Net asset value per share (in Dollars per share) | $46.56 | $27.01 | $19.69 | $18.65 | $17.45 |
| Investments in gold bullion cost | $1.4B | $880.9M |
| Period ending | 2026-01-31 | 2025-01-31 | 2024-01-31 | 2023-01-31 | 2022-01-31 | 2021-01-31 |
|---|---|---|---|---|---|---|
| Investments in gold bullion (cost $1,384,168,533 and $880,891,128, respectively) | $2.9B | $1.3B | ||||
| Capital shares receivable | $13.8M | |||||
| Gold bullion sold receivable | $108.0K | |||||
| Total Assets | $2.9B | $1.3B | ||||
| Capital shares payable | $108.0K | |||||
| Gold bullion purchased payable | $13.5M | |||||
| Sponsors fee payable | $6 | $252.1K | ||||
| Total Liabilities | $108.0K | $13.8M | ||||
| Net Assets | $2.9B | $1.3B | $780.2M | $656.6M | ||
| Paid-in-capital | $1.4B | $878.4M | ||||
| Accumulated earnings | $1.5B | $436.2M | ||||
| Net Assets | $2.9B | $1.3B | ||||
| Shares issued (in Shares) | 62.4M shares | 48.7M shares | ||||
| Shares outstanding (in Shares) | 62.4M shares | 48.7M shares | 39.6M shares | 35.2M shares | ||
| Net asset value per share (in Dollars per share) | $46.56 | $27.01 | $19.69 | $18.65 | $17.45 | $18.16 |
| Investments in gold bullion cost | $1.4B | $880.9M |
Former names
Timeline
Filings
175 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 4 major events, 150 other. The latest 20:
- Oct 6, 2026FWP FREE WRITING PROSPECTUS EDGAR
- Sep 8, 202610-Q QUARTERLY REPORT EDGAR
- Aug 28, 2026FWP FREE WRITING PROSPECTUS EDGAR
- Aug 5, 2026FWP FREE WRITING PROSPECTUS EDGAR
- Jul 28, 2026FWP FREE WRITING PROSPECTUS EDGAR
- Jul 22, 2026FWP FREE WRITING PROSPECTUS EDGAR
- Jul 22, 2026FWP FREE WRITING PROSPECTUS EDGAR
- Jun 15, 2026FWP FREE WRITING PROSPECTUS EDGAR
- Jun 4, 202610-Q QUARTERLY REPORT EDGAR
- Jun 3, 2026FWP FREE WRITING PROSPECTUS EDGAR
- May 26, 2026FWP FREE WRITING PROSPECTUS EDGAR
- May 8, 2026FWP FREE WRITING PROSPECTUS EDGAR
- May 7, 2026FWP FREE WRITING PROSPECTUS EDGAR
- Apr 30, 2026FWP FREE WRITING PROSPECTUS EDGAR
- Apr 30, 2026FWP FREE WRITING PROSPECTUS EDGAR
- Apr 28, 2026FWP FREE WRITING PROSPECTUS EDGAR
- Mar 30, 2026424I PROSPECTUS EDGAR
- Mar 27, 202610-K ANNUAL REPORT EDGAR
- Mar 17, 2026FWP FREE WRITING PROSPECTUS EDGAR
- Mar 11, 2026FWP FREE WRITING PROSPECTUS EDGAR
The 175 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How VanEck Merk Gold ETF is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARVanEck Merk Gold ETF1
- CIK0001546652
- Employer ID (EIN)46-65820164
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
- Incorporated inNew York4
- Fiscal year endsJanuary 311
- Industry code (SIC)6221 Commodity Contracts Brokers & Dealers1
- SEC reviewing officeOffice of Crypto Assets, Division of Corporation Finance1
- Business address240 Greenwich Street, 22W, New York, NY 102861
- Phone650-323-4341 X1161
- Shares outstanding67,185,613 as of Sep 4, 202611
- Public float$1.8B as of Jul 31, 20254
- AuditorCOHEN & COMPANY, LTD, Philadelphia, Pennsylvania PCAOB ID 925; it also attests to the company’s internal control over financial reporting4
- On EDGAR sinceApr 20, 20121
- Filings444 in all: FWP (319), 10-Q (37), 10-K (12), 424B3 (12), UPLOAD (9), 8-K (7), CORRESP (7), EFFECT (7)1
All 22 form types
POS AM (6), S-1/A (6), SC 13G/A (4), 424I (3), S-3 (3), S-3/A (3), 10-K/A (2), 424B1 (1), 8-A12B (1), DEL AM (1), S-1 (1), S-3ASR (1), SC 13G (1), SEC STAFF ACTION (1)
- Latest filingsAnnual report (10-K) Mar 27, 2026
Quarterly report (10-Q) Sep 8, 2026
Latest 8-K (8-K) Aug 20, 2024
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| VanEck Merk Gold Shares | OUNZ | NYSE Arca |
From the cover page of the 10-K filed Mar 27, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks VanEck Merk Gold ETF names in Item 1A of its 10-K filed Mar 27, 2026: 68 risks under these headings, as written.4
- Before making an investment decision, you should consider carefully the risks described below, as well as the other information included in this Report.
- RISKS RELATED TO GOLD
- The Value of Your Shares is Directly Related to the Price of Gold
- The value of your Shares fluctuates based upon the price of the gold held by the Trust. Fluctuations in the price of gold could materially adversely affect your investment in the Shares. This creates the potential for losses, regardless of the period of time that you hold the Shares.
- There is No Guarantee that the High Trading Price of Gold Will be Sustained
- The international gold market has experienced historically high trading prices in recent years. Because there can be no assurance that this historically high trading price of gold will be sustained, there could be significant decreases in the value of net assets and the NAV of the Trust.
- Physical Gold Allocated to the Trust May Not Meet the Standards of a London Bar
- Physical gold allocated to the Trust in connection with the creation of a Basket may not meet the standards of a London Bar and, if a Basket is issued against such gold, the Trust may suffer a loss.
- Value of Gold in Trust Is Limited to the Value of the Fine Ounce Content of Gold
- Because gold in the Trust is valued at the price of gold independent of location and type of gold, the value of gold in the Trust is limited to the price of gold multiplied by the Fine Ounce content of the gold.
- The Solactive Index is New, and Therefore, May Have Limited Trading Data and Disruptions
- Effective as of the Index Change Date, the Trustee values the gold held by the Trust based on the Solactive Index. Potential disruptions and limited data could impact the value of the gold held by the Trust and could have an adverse effect on the value of an investment in the Shares.
The other 57 risks
- Governmental Actions May Affect the Price of Gold
- Future governmental decisions may have significant impact on the price of gold, which may result in a significant decrease or increase in the value of the net assets and the NAV of the Trust.
- Because the Trust invests only in gold, an investment in the Trust may be more volatile than an investment in a more broadly diversified portfolio.
- Loss of or Damage to the Trust’s Gold
- Gold owned by the Trust may be subject to loss, damage, theft or restriction on access.
- Recovery for Damage to the Trust’s Gold May Be Limited
- In the event the Trust’s gold is lost, damaged, stolen or destroyed, recovery may be limited to the market value of the gold at the time the loss is discovered, which may negatively affect the value of net assets of the Trust.
- Gold Market Liquidity and Supply Risks
- RISKS RELATED TO SHARES
- Sales of Gold in the Market Could Adversely Affect the Shares
- Substantial sales of gold by central banks, governmental agencies and multi-lateral institutions could adversely affect an investment in the Shares.
- The Shares May Trade at a Discount or a Premium
- Trust Shares may trade at NAV or at a price that is above or below NAV. Any discount or premium in the trading price relative to the NAV per Share may widen as a result of the different trading hours of NYSE Arca and other exchanges.
- There May Not be an Active Trading Market for the Shares
- The lack of an active trading market for the Shares may result in losses on your investment at the time of disposition of your Shares.
- The Trust is Not Actively Managed
- The Trust does not actively trade gold to take advantage of short-term market fluctuations in the price of gold. An investment in the Trust will yield long-term gains only if the value of gold increases over time.
- The Trust May Suspend Redemptions of Baskets by Authorized Participants, which Could Affect the Market Price of the Shares
- There may be situations where the Trust suspends redemptions of Baskets by Authorized Participants. To the extent the value of gold declines, these delays may result in a decrease in the value of the gold received upon redemption by an Authorized Participant, as well as a reduction in liquidity for all investors in the secondary market.
- The Trust May Suspend or Reject the Surrender of Shares for Physical Gold, which Could Affect the Market Price of the Shares
- There may be situations where the Trust suspends or rejects the surrender of Shares for physical gold. To the extent the value of gold declines, these delays may result in a decrease in the value of the physical gold received by a Delivery Applicant, as well as a reduction in liquidity for all investors in the secondary market.
- The Withdrawal of an Authorized Participant and Substantial Redemptions by Authorized Participants May Affect the Liquidity of the Shares
- The liquidity of the Shares also may be affected by substantial redemptions by Authorized Participants related to or independent of the withdrawal from participation of Authorized Participants.
- Competition From Other Methods of Investing in Gold
- Other Investment Vehicles May Cause a Decline in the Price of Gold
- The price of gold may be affected by the sale of ETVs tracking gold markets, which could negatively affect gold prices and the price and NAV of the Shares.
- Financial Crises May Result in a Decline in the Price of Gold
- Crises may motivate large-scale sales of gold, which could decrease the price of gold and adversely affect an investment in the Shares.
- Factors that May Cause a Decline in the Price of Gold
- Payment of the Sponsor’s Fee in Shares and the Sale of Gold by the Trust May Cause a Decline in the Value of the Shares
- The amount of gold represented by each Share will decrease when the Sponsor’s Fee is paid in Shares and when the Trustee sells the Trust’s gold to pay Trust expenses. Without increases in the price of gold sufficient to compensate for that decrease, the price of the Shares will also decline and you will lose money on your investment in Shares.
- Operational Problems May Cause a Decline in the Trading Price of the Shares
- The value of the Shares could decline if unanticipated operational or trading problems arise.
- Shareholders May Terminate the Trust
- Shareholders with large holdings may choose to terminate the Trust.
- A Share Submission is Irrevocable
- An investor’s instruction to a broker-dealer to transfer Shares to the Trust in a Share Submission cannot be changed.
- Delivery of Physical Gold to Delivery Applicants May Take Considerable Time
- The Custodian or a precious metals dealer will deliver physical gold to Delivery Applicants in exchange for their Shares. A delay in the delivery of physical gold to Delivery Applicants could result in losses if the price of gold declines.
- Suspension or Rejection of the Surrender of Shares
- If the Trust suspends or rejects a surrender of Shares for gold, a Shareholder may have no alternative but to sell Shares on the open market and thus incur brokerage costs and be subject to potential tax consequences.
- The Creation and Redemption Process May Result in a Decline in the Price of Shares
- If the process of creation and redemption of Baskets encounters any unanticipated difficulties, the possibility for arbitrage transactions intended to keep the price of the Shares closely linked to the price of gold may not exist, and as a result, the price of the Shares may fall.
- A Delivery Applicant Bears the Risk of Loss in Connection with the Delivery of Physical Gold
- A Delivery Applicant that suffers loss of, or damage to, its physical gold during delivery will not be able to claim damages from the Trust, the Trustee, the Custodian, the precious metals dealer from which physical gold was obtained or the Sponsor.
- Risks of Transactions with Precious Metals Dealers
- Counterparty risks associated with the Trust’s transactions with precious metals dealers to exchange the Trust’s gold for physical gold of different specifications may expose the Trust to potential quantity and quality deficiencies and to situations where the Trust is not be able to exchange gold for physical gold.
- Default of a Precious Metals Dealer
- The Trust will bear the risk of loss of the amount expected to be received in an exchange of gold in the event of the default or bankruptcy of a precious metals dealer.
- A Failure by a Precious Metals Dealer to Exercise Due Care with Respect to the Trust’s Gold Could Result in a Loss to the Trust
- For deliveries of gold other than London Bars to Delivery Applicants, the Trust will rely on a precious metals dealer to exchange the Trust’s gold for American Gold Eagle Coins or another form of physical gold and to deliver physical gold to the Delivery Applicant pursuant to the Delivery Application. As a result, a failure by the precious metals dealer to exercise due care in the exchange and delivery of the Trust’s gold could result in a loss to the Trust.
- The Trust’s Ability to Recover Losses from a Precious Metals Dealer may be Limited
- The limited liability of a precious metals dealer under the Transaction and Shipping Agreement with the Sponsor and New York State law may impair the ability of the Trust to recover losses concerning its gold and any recovery may be limited, even in the event of fraud, to the market value of the gold at the time the fraud is discovered.
- Physical Gold May not be Available in the Requested Sizes
- There is no guarantee that physical gold will be available in specified sizes, which may result in a Delivery Applicant paying higher or lower Processing fees.
- Physical Gold Delivered upon Taking Delivery in Exchange for Shares May Need to be Re-Assayed
- If a Delivery Applicant requests that physical gold be delivered to a destination that is outside the “chain of integrity,” the physical gold may need to be re-assayed, which could result in additional costs for the Delivery Applicant and potential delays in assaying the physical gold.
- Limited Investor Rights
- As an investor, you will not have the rights normally associated with ownership of Shares of other types of investment vehicles. For example, you will have extremely limited voting rights in comparison to those of shareholders in traditional operating companies.
- Absence of 1940 Act and Commodity Exchange Act Protections
- Investors will not have the protections normally associated with ownership of Shares in an investment company registered under the 1940 Act or the protections afforded by the Commodity Exchange Act.
- Termination and Liquidation May Be Required
- The Trust may be required to terminate and liquidate at a time that is disadvantageous to investors.
- RISKS RELATED TO THE CUSTODY OF GOLD
- The Trust’s Ability to Recover Losses from the Custodian is Limited
- The limited liability of the Custodian under the agreement with the Trust and U.K. law may impair the ability of the Trust to recover losses concerning its gold and any recovery may be limited, even in the event of fraud, to the market value of the gold at the time the fraud is discovered.
- It May Be Difficult for the Trust to Seek Legal Redress Against the Custodian
- Although the relationship between the Custodian and the Trustee concerning the Trust’s allocated gold is expressly governed by U.K. law, a court hearing any legal dispute concerning that arrangement may disregard that choice of law and apply U.S. law, in which case the ability of the Trust to seek legal redress against the Custodian may be frustrated.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 15SEC EDGAROther events
- 16SEC EDGAROther events
- 17SEC EDGARChange of auditor