SPDR Gold Shares
MX ˙ BMV ˙ US78463V1070
SecurityMX:GLD / SPDR Gold Shares
InstitutionValmark Advisers, Inc.
Latest Disclosed Ownership7,086 shares
Latest Disclosed Value $ 3,049,035
Valmark Advisers, Inc. reports 22.17% increase in ownership of GLD / SPDR Gold Shares

On May 1, 2026 - Valmark Advisers, Inc. filed a 13F-HR form disclosing ownership of 7,086 shares of SPDR Gold Shares (MX:GLD) valued at $3,049,035 USD as of March 31, 2026. The entity filed a previous 13F-HR on January 26, 2026 disclosing 5,800 shares of SPDR Gold Shares. This represents a change in shares of 22.17% 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.

Upgrade to unlock premium data and export to Excel .

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)
2026-05-01 2026-03-31 13F SPDR GOLD TR GOLD SHS 78463V107 7,086 1,286 22.17 3,049 32.68 0.0362
2026-01-26 2025-12-31 13F SPDR GOLD TR GOLD SHS 78463V107 5,800 47 0.82 2,299 12.37 0.0283
2025-10-24 2025-09-30 13F SPDR GOLD TR GOLD SHS 78463V107 5,753 -7,176 -55.50 2,045 -48.11 0.0264
2025-07-23 2025-06-30 13F SPDR GOLD TR GOLD SHS 78463V107 12,929 7,317 130.38 3,941 143.72 0.0548
2025-04-23 2025-03-31 13F SPDR GOLD TR GOLD SHS 78463V107 5,612 -494 -8.09 1,617 9.40 0.0244
2025-01-30 2024-12-31 13F SPDR GOLD TR GOLD SHS 78463V107 6,106 -693 -10.19 1,478 -10.53 0.0229
2024-10-25 2024-09-30 13F SPDR GOLD TR GOLD SHS 78463V107 6,799 332 5.13 1,653 18.85 0.0258
2024-08-01 2024-06-30 13F SPDR GOLD TR GOLD SHS 78463V107 6,467 645 11.08 1,390 16.12 0.0236
2024-05-06 2024-03-31 13F SPDR GOLD TR GOLD SHS 78463V107 5,822 164 2.90 1,198 10.73 0.0208
2024-02-02 2023-12-31 13F SPDR GOLD TR GOLD SHS 78463V107 5,658 -422 -6.94 1,082 3.74 0.0202
2023-11-08 2023-09-30 13F SPDR GOLD TR GOLD SHS 78463V107 6,080 -2,671 -30.52 1,042 -33.21 0.0216
2023-08-03 2023-06-30 13F SPDR GOLD TR GOLD SHS 78463V107 8,751 -6,121 -41.16 1,560 -42.73 0.0317
2023-05-02 2023-03-31 13F SPDR GOLD TR GOLD SHS 78463V107 14,872 -2,435 -14.07 2,725 -7.19 0.0587
2023-02-07 2022-12-31 13F SPDR GOLD TR GOLD SHS 78463V107 17,307 -3,575 -17.12 2,936 -9.13 0.0677
2022-11-03 2022-09-30 13F SPDR GOLD TR GOLD SHS 78463V107 20,882 13,612 187.24 3,230 163.67 0.0650
2022-08-01 2022-06-30 13F SPDR GOLD TR GOLD SHS 78463V107 7,270 -881 -10.81 1,225 -16.78 0.0238
2022-05-10 2022-03-31 13F SPDR GOLD TR GOLD SHS 78463V107 8,151 488 6.37 1,472 12.37 0.0259
2022-02-02 2021-12-31 13F SPDR GOLD TR GOLD SHS 78463V107 7,663 513 7.17 1,310 11.58 0.0226
2021-11-09 2021-09-30 13F SPDR GOLD TR GOLD SHS 78463V107 7,150 3,229 82.35 1,174 80.89 0.0215
2021-08-06 2021-06-30 13F SPDR GOLD TR GOLD SHS 78463V107 3,921 -257 -6.15 649 -2.84 0.0119
2021-05-04 2021-03-31 13F SPDR GOLD TR GOLD SHS 78463V107 4,178 -1,020 -19.62 668 -27.94 0.0129
2021-02-03 2020-12-31 13F SPDR GOLD TR GOLD SHS 78463V107 5,198 749 16.84 927 17.64 0.0189
2020-11-09 2020-09-30 13F SPDR GOLD TR GOLD SHS 78463V107 4,449 -252 -5.36 788 0.13 0.0179
2020-07-31 2020-06-30 13F SPDR GOLD TR GOLD SHS 78463V107 4,701 -76 -1.59 787 11.32 0.0185
2020-05-01 2020-03-31 13F SPDR GOLD TRUST GOLD SHS 78463V107 4,777 -55 -1.14 707 2.46 0.0185
2020-01-31 2019-12-31 13F SPDR GOLD TRUST GOLD SHS 78463V107 4,832 -344 -6.65 690 -4.03 0.0150
2019-11-06 2019-09-30 13F SPDR GOLD TRUST GOLD SHS 78463V107 5,176 645 14.24 719 19.04 0.0160
2019-08-07 2019-06-30 13F SPDR GOLD TRUST GOLD SHS 78463V107 4,531 1,706 60.39 604 75.07 0.0133
2019-05-10 2019-03-31 13F SPDR GOLD TRUST GOLD SHS 78463V107 2,825 -74 -2.55 345 -1.99 0.0077
2019-02-07 2018-12-31 13F SPDR GOLD TRUST GOLD SHS 78463V107 2,899 130 4.69 352 12.82 0.0084
2018-11-02 2018-09-30 13F SPDR GOLD TRUST GOLD SHS 78463V107 2,769 -58 -2.05 312 -6.87 0.0068
2018-08-07 2018-06-30 13F SPDR GOLD TRUST GOLD SHS 78463V107 2,827 -134 -4.53 335 -9.95 0.0074
2018-05-07 2018-03-31 13F SPDR GOLD TRUST GOLD SHS 78463V107 2,961 -11 -0.37 372 1.36 0.0082
2018-02-09 2017-12-31 13F SPDR GOLD TRUST GOLD SHS 78463V107 2,972 2,972 367 0.0079
2017-11-06 2017-09-30 13F SPDR GOLD TRUST GOLD SHS 78463V107 0 -2,547 -100.00 0 -100.00
2017-07-31 2017-06-30 13F SPDR GOLD TRUST GOLD SHS 78463V107 2,547 74 2.99 301 2.38 0.0073
2017-05-08 2017-03-31 13F SPDR GOLD TRUST GOLD SHS 78463V107 2,473 231 10.30 294 19.51 0.0072
2017-01-23 2016-12-31 13F SPDR GOLD TRUST GOLD SHS 78463V107 2,242 -1 -0.04 246 -12.77 0.0062
2016-11-04 2016-09-30 13F SPDR GOLD TRUST GOLD SHS 78463V107 2,243 0 0.00 282 -0.70 0.0070
2016-08-15 2016-06-30 13F SPDR GOLD TRUST GOLD SHS 78463V107 2,243 2,243 0.00 284 0.0071
2015-02-06 2014-12-31 13F SPDR GOLD TRUST GOLD SHS 78463V107 0 -1,838 -100.00 0 -100.00
2014-11-06 2014-09-30 13F SPDR GOLD TRUST GOLD SHS 78463V107 1,838 -80 -4.17 214 -13.01 0.0051
2014-07-28 2014-06-30 13F SPDR GOLD TRUST GOLD SHS 78463V107 1,918 -83 -4.15 246 -0.40 0.0059
2014-04-04 2014-03-31 13F SPDR GOLD TRUST GOLD SHS 78463V107 2,001 104 5.48 247 12.27 0.0063
2014-01-31 2013-12-31 13F SPDR GOLD TRUST GOLD SHS 78463V107 1,897 -268 -12.38 220 -20.86 0.0060
2013-11-08 2013-09-30 13F SPDR GOLD TRUST GOLD SHS 78463V107 2,165 9 0.42 278 8.17 0.0086
2013-08-05 2013-06-30 13F SPDR GOLD TRUST GOLD SHS 78463V107 2,156 2,156 257 0.0090
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.