SPDR Gold Shares
MX ˙ BMV ˙ US78463V1070
SecurityMX:GLD / SPDR Gold Shares
InstitutionFinancial Advisory Service, Inc.
Latest Disclosed Ownership24,824 shares
Latest Disclosed Value $ 9,838,098
Financial Advisory Service, Inc. reports 18.68% increase in ownership of GLD / SPDR Gold Shares

On February 18, 2026 - Financial Advisory Service, Inc. filed a 13F-HR form disclosing ownership of 24,824 shares of SPDR Gold Shares (MX:GLD) valued at $9,838,098 USD as of December 31, 2025. The entity filed a previous 13F-HR on October 29, 2025 disclosing 20,916 shares of SPDR Gold Shares. This represents a change in shares of 18.68% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-02-18 2025-12-31 13F SPDR GOLD TR GOLD SHS 78463V107 24,824 3,908 18.68 9,838 32.32 0.6357
2025-10-29 2025-09-30 13F SPDR GOLD TR GOLD SHS 78463V107 20,916 8,691 71.09 7,435 99.54 0.5035
2025-08-14 2025-06-30 13F SPDR GOLD TR GOLD SHS 78463V107 12,225 7,546 161.27 3,727 176.41 0.2757
2025-05-05 2025-03-31 13F SPDR GOLD TR GOLD SHS 78463V107 4,679 -22 -0.47 1,348 18.45 0.1100
2025-02-14 2024-12-31 13F SPDR GOLD TR GOLD SHS 78463V107 4,701 -98 -2.04 1,138 -2.40 0.0956
2024-10-17 2024-09-30 13F SPDR GOLD TR GOLD SHS 78463V107 4,799 519 12.13 1,166 26.74 0.0928
2024-07-29 2024-06-30 13F SPDR GOLD TR GOLD SHS 78463V107 4,280 0 0.00 920 4.55 0.0795
2024-04-29 2024-03-31 13F SPDR GOLD TR GOLD SHS 78463V107 4,280 -19 -0.44 880 7.19 0.0780
2024-01-23 2023-12-31 13F SPDR GOLD TR GOLD SHS 78463V107 4,299 0 0.00 822 11.40 0.0781
2023-10-23 2023-09-30 13F SPDR GOLD TR GOLD SHS 78463V107 4,299 0 0.00 737 -3.79 0.0788
2023-08-08 2023-06-30 13F SPDR GOLD TR GOLD SHS 78463V107 4,299 0 0.00 766 -2.67 0.0969
2023-05-11 2023-03-31 13F SPDR GOLD TR GOLD SHS 78463V107 4,299 -132 -2.98 788 4.79 0.0854
2023-02-01 2022-12-31 13F SPDR GOLD TR GOLD SHS 78463V107 4,431 0 0.00 752 9.64 0.0852
2022-10-20 2022-09-30 13F SPDR GOLD TR GOLD SHS 78463V107 4,431 0 0.00 685 -8.18 0.0761
2022-08-02 2022-06-30 13F SPDR GOLD TR GOLD SHS 78463V107 4,431 -1,970 -30.78 746 -35.47 0.0785
2022-05-04 2022-03-31 13F SPDR GOLD TR GOLD SHS 78463V107 6,401 0 0.00 1,156 5.67 0.1088
2022-02-11 2021-12-31 13F SPDR GOLD TR GOLD SHS 78463V107 6,401 -430 -6.29 1,094 -2.50 0.1004
2021-11-15 2021-09-30 13F SPDR GOLD TR GOLD SHS 78463V107 6,831 -500 -6.82 1,122 -7.58 0.1050
2021-07-29 2021-06-30 13F SPDR GOLD TR GOLD SHS 78463V107 7,331 -250 -3.30 1,214 0.08 0.1139
2021-05-17 2021-03-31 13F SPDR GOLD TR GOLD SHS 78463V107 7,581 -90 -1.17 1,213 -11.33 0.1263
2021-02-10 2020-12-31 13F SPDR GOLD TR GOLD SHS 78463V107 7,671 -290 -3.64 1,368 -2.98 0.1556
2020-11-16 2020-09-30 13F SPDR GOLD TR GOLD SHS 78463V107 7,961 1,179 17.38 1,410 24.23 0.1926
2020-07-21 2020-06-30 13F SPDR GOLD TR GOLD SHS 78463V107 6,782 1,668 32.62 1,135 49.93 0.1673
2020-05-14 2020-03-31 13F SPDR GOLD TRUST GOLD SHS 78463V107 5,114 -239 -4.46 757 -1.05 0.1324
2020-01-31 2019-12-31 13F SPDR GOLD TRUST GOLD SHS 78463V107 5,353 0 0.00 765 2.96 0.1288
2019-11-06 2019-09-30 13F SPDR GOLD TRUST GOLD SHS 78463V107 5,353 104 1.98 743 6.29 0.1347
2019-07-25 2019-06-30 13F SPDR GOLD TRUST GOLD SHS 78463V107 5,249 0 0.00 699 9.22 0.1301
2019-05-13 2019-03-31 13F SPDR GOLD TRUST GOLD SHS 78463V107 5,249 1,620 44.64 640 45.45 0.1249
2019-02-08 2018-12-31 13F SPDR GOLD TRUST GOLD SHS 78463V107 3,629 -3,198 -46.84 440 -42.86 0.1007
2018-11-05 2018-09-30 13F SPDR GOLD TRUST GOLD SHS 78463V107 6,827 -760 -10.02 770 -14.44 0.1752
2018-07-26 2018-06-30 13F SPDR GOLD TRUST GOLD SHS 78463V107 7,587 444 6.22 900 0.11 0.2418
2018-05-02 2018-03-31 13F SPDR GOLD TRUST GOLD SHS 78463V107 7,143 0 0.00 899 1.81 0.2591
2018-01-29 2017-12-31 13F SPDR GOLD TRUST GOLD SHS 78463V107 7,143 0 0.00 883 1.73 0.2319
2017-10-19 2017-09-30 13F SPDR GOLD TRUST GOLD SHS 78463V107 7,143 -130 -1.79 868 1.17 0.2422
2017-08-01 2017-06-30 13F SPDR GOLD TRUST GOLD SHS 78463V107 7,273 -510 -6.55 858 -7.14 0.2557
2017-05-08 2017-03-31 13F SPDR GOLD TRUST GOLD SHS 78463V107 7,783 -1,354 -14.82 924 -7.78 0.2854
2017-02-07 2016-12-31 13F SPDR GOLD TRUST GOLD SHS 78463V107 9,137 0 0.00 1,002 -12.72 0.2970
2016-11-01 2016-09-30 13F SPDR GOLD TRUST GOLD SHS 78463V107 9,137 192 2.15 1,148 1.50 0.3759
2016-08-09 2016-06-30 13F SPDR GOLD TRUST GOLD SHS 78463V107 8,945 250 2.88 1,131 10.56 0.4176
2016-05-03 2016-03-31 13F SPDR GOLD TRUST GOLD SHS 78463V107 8,695 -560 -6.05 1,023 8.95 0.5255
2016-01-22 2015-12-31 13F SPDR GOLD TRUST GOLD SHS 78463V107 9,255 -300 -3.14 939 -8.03 0.4693
2015-10-20 2015-09-30 13F SPDR GOLD TRUST GOLD SHS 78463V107 9,555 -706 -6.88 1,021 -11.45 0.5881
2015-08-14 2015-06-30 13F SPDR GOLD TRUST GOLD SHS 78463V107 10,261 -133 -1.28 1,153 -2.37 0.5772
2015-04-17 2015-03-31 13F SPDR GOLD TRUST GOLD SHS 78463V107 10,394 10,394 0.00 1,181 0.6028
2015-01-28 2014-12-31 13F SPDR GOLD TRUST GOLD SHS 78463V107 0 -11,014 -100.00 0 -100.00
2014-10-30 2014-09-30 13F SPDR GOLD TRUST GOLD SHS 78463V107 11,014 -40 -0.36 1,280 -9.54 0.7342
2014-07-16 2014-06-30 13F SPDR Gold Trust Shares GOLD SHS 78463V107 11,054 -200 -1.78 1,415 1.73 0.8145
2014-04-25 2014-03-31 13F SPDR GOLD TRUST GOLD SHS 78463V107 11,254 -1,925 -14.61 1,391 -9.08 0.9434
2014-01-24 2013-12-31 13F SPDR Gold Trust Shares GOLD SHS 78463V107 13,179 13,179 1,530 0.9094
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.