Sprott Physical Gold Trust

Sprott Physical Gold Trust is a Canadian-listed closed-end trust traded on the NYSE that holds physical gold bullion as its primary asset. The trust structure allows investors to gain exposure to gold through a vehicle backed by allocated, segregated bars stored in professional vault facilities. Holdings are audited regularly, with the trust publishing regular reports detailing its gold inventory and custodial arrangements.

The trust's operations center on acquiring and maintaining physical gold inventory, with revenues derived from management fees charged to shareholders based on assets under management. The trust does not engage in trading or leverage strategies; its function is to hold gold bullion on behalf of unitholders. Storage and insurance costs for the bullion are passed through to investors.

The trust operates primarily through Canadian and North American markets, with assets exceeding $18 billion. As a passive holding vehicle rather than an active management operation, the trust maintains a minimal employee base relative to its asset scale, focused on administrative, compliance, and custodial oversight functions. The trust's geographic footprint is concentrated in North America, with vault operations primarily in Canada and the United States.