Global X Silver Miners ETF (ticker: SIL)
Global X
Copper Miners ETF (ticker: COPX)
Global X Gold Explorers ETF (ticker:
GOEX)
Global X Uranium ETF (ticker: URA)
Global X Gold Miners ETF (ticker:
AUAU)
Semi-Annual Financials and Other
Information
April 30, 2026
Table of
Contents
Shares
are bought and sold at market price (not net asset value (“NAV”)) and are not
individually redeemed from a Fund. Shares may only be redeemed directly from a
Fund by Authorized Participants, in very large creation/redemption units.
Brokerage commissions will reduce returns.
| Schedule of
Investments |
|
April 30, 2026 (Unaudited) |
| Global X Silver Miners ETF |
| |
|
Shares |
|
|
Value |
|
| COMMON
STOCK — 100.1% |
|
|
|
|
|
|
|
|
| AUSTRALIA
— 1.1% |
|
|
|
|
|
|
|
|
| Materials
— 1.1% |
|
|
|
|
|
|
|
|
| Andean
Silver *(A) |
|
|
5,640,828 |
|
|
$ |
8,232,595 |
|
| Kingsgate
Consolidated |
|
|
7,579,412 |
|
|
|
33,512,627 |
|
| Silver
Mines *(A) |
|
|
65,593,992 |
|
|
|
7,545,394 |
|
| Unico
Silver * |
|
|
15,152,358 |
|
|
|
6,100,509 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
AUSTRALIA |
|
|
|
|
|
|
55,391,125 |
|
| BRAZIL
— 21.6% |
|
|
|
|
|
|
|
|
| Materials
— 21.6% |
|
|
|
|
|
|
|
|
| Wheaton
Precious Metals (A) |
|
|
8,629,864 |
|
|
|
1,091,332,601 |
|
| |
|
|
|
|
|
|
|
|
| CANADA
— 39.6% |
|
|
|
|
|
|
|
|
| Materials
— 39.6% |
|
|
|
|
|
|
|
|
| AbraSilver
Resource * |
|
|
4,430,411 |
|
|
|
52,340,760 |
|
| Aftermath
Silver *(A) |
|
|
8,260,696 |
|
|
|
4,673,232 |
|
| Americas
Gold & Silver * |
|
|
6,842,777 |
|
|
|
39,113,074 |
|
| Andean
Precious Metals * |
|
|
1,693,350 |
|
|
|
7,775,650 |
|
| Avino
Silver & Gold Mines *(A) |
|
|
4,964,048 |
|
|
|
31,984,939 |
|
| Blackrock
Silver *(A) |
|
|
9,402,122 |
|
|
|
8,358,363 |
|
| Discovery
Silver * |
|
|
20,242,361 |
|
|
|
124,627,864 |
|
| Endeavour
Silver *(A) |
|
|
9,298,652 |
|
|
|
85,826,558 |
|
| First
Majestic Silver |
|
|
12,529,325 |
|
|
|
246,333,654 |
|
| Fortuna
Mining * |
|
|
9,583,908 |
|
|
|
92,240,978 |
|
| GoGold
Resources * |
|
|
12,823,996 |
|
|
|
24,685,085 |
|
| Guanajuato
Silver *(A) |
|
|
22,468,454 |
|
|
|
10,234,694 |
|
| Highlander
Silver * |
|
|
4,337,808 |
|
|
|
25,400,286 |
|
| Integra
Resources, Cl Common Subs. Receipt * |
|
|
5,866,428 |
|
|
|
15,861,035 |
|
| McEwen
* |
|
|
1,603,073 |
|
|
|
34,754,623 |
|
| New
Pacific Metals * |
|
|
3,098,049 |
|
|
|
16,433,704 |
|
| OR
Royalties |
|
|
5,883,339 |
|
|
|
216,254,096 |
|
| Pan
American Silver |
|
|
12,234,445 |
|
|
|
639,739,129 |
|
| Santacruz
Silver Mining *(A) |
|
|
2,692,883 |
|
|
|
21,050,823 |
|
| Silver
Tiger Metals * |
|
|
17,099,916 |
|
|
|
10,176,278 |
|
| SSR
Mining * |
|
|
6,321,860 |
|
|
|
182,132,787 |
|
| Triple
Flag Precious Metals |
|
|
2,190,988 |
|
|
|
69,797,399 |
|
| Vizsla
Silver * |
|
|
10,347,779 |
|
|
|
35,047,580 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
CANADA |
|
|
|
|
|
|
1,994,842,591 |
|
The accompanying notes are an integral part of the
financial statements.
1
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Silver Miners
ETF |
| |
|
Shares |
|
|
Value |
|
| COMMON
STOCK — continued |
|
|
|
|
|
|
|
|
| CHINA
— 1.6% |
|
|
|
|
|
|
|
|
| Materials
— 1.6% |
|
|
|
|
|
|
|
|
| Silvercorp
Metals |
|
|
6,653,952 |
|
|
$ |
79,831,780 |
|
| |
|
|
|
|
|
|
|
|
| MEXICO
— 9.5% |
|
|
|
|
|
|
|
|
| Materials
— 9.5% |
|
|
|
|
|
|
|
|
| Fresnillo |
|
|
5,424,309 |
|
|
|
238,444,935 |
|
| Industrias
Penoles * |
|
|
4,762,139 |
|
|
|
239,493,822 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
MEXICO |
|
|
|
|
|
|
477,938,757 |
|
| MOROCCO
— 1.5% |
|
|
|
|
|
|
|
|
| Materials
— 1.5% |
|
|
|
|
|
|
|
|
| Aya
Gold & Silver * |
|
|
4,311,799 |
|
|
|
74,381,780 |
|
| |
|
|
|
|
|
|
|
|
| PERU
— 5.4% |
|
|
|
|
|
|
|
|
| Materials
— 5.4% |
|
|
|
|
|
|
|
|
| Cia
de Minas Buenaventura SAA ADR |
|
|
5,804,752 |
|
|
|
189,176,868 |
|
| Hochschild
Mining |
|
|
9,686,601 |
|
|
|
82,002,832 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
PERU |
|
|
|
|
|
|
271,179,700 |
|
| SOUTH
KOREA — 3.1% |
|
|
|
|
|
|
|
|
| Materials
— 3.1% |
|
|
|
|
|
|
|
|
| Korea
Zinc |
|
|
145,629 |
|
|
|
155,035,188 |
|
| |
|
|
|
|
|
|
|
|
| SWEDEN
— 0.0% |
|
|
|
|
|
|
|
|
| Materials
— 0.0% |
|
|
|
|
|
|
|
|
| Sotkamo
Silver * |
|
|
3,661,453 |
|
|
|
1,634,454 |
|
| |
|
|
|
|
|
|
|
|
| UNITED
STATES — 16.7% |
|
|
|
|
|
|
|
|
| Materials
— 16.7% |
|
|
|
|
|
|
|
|
| Coeur
Mining * |
|
|
29,860,635 |
|
|
|
536,595,611 |
|
| Gold
Resource * |
|
|
5,049,953 |
|
|
|
7,372,931 |
|
| Hecla
Mining |
|
|
13,786,559 |
|
|
|
248,433,793 |
|
| Hycroft
Mining Holding, Cl A *(A) |
|
|
1,418,714 |
|
|
|
51,726,313 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
UNITED STATES |
|
|
|
|
|
|
844,128,648 |
|
TOTAL
COMMON STOCK
(Cost $3,490,668,453) |
|
|
|
|
|
|
5,045,696,624 |
|
The accompanying notes are an integral part of the
financial statements.
2
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Silver Miners
ETF |
| |
|
Face Amount |
|
|
Value |
|
| REPURCHASE AGREEMENTS(B) —
0.8% |
|
|
|
|
|
|
|
|
Citigroup
Global Markets, Inc.
3.650%, dated 04/30/2026, to be repurchased on
05/01/2026, repurchase price $9,349,407 (collateralized by various U.S.
Government Obligations, ranging in par value $13,428 - $4,145,730, 3.500%
- 6.050%, 04/09/2027 - 12/15/2060, with a total market value of
$9,504,053) |
|
$ |
9,348,459 |
|
|
$ |
9,348,459 |
|
Daiwa
Capital Markets America, Inc.
3.650%, dated 04/30/2026, to be
repurchased on 05/01/2026, repurchase price $9,349,407 (collateralized by
various U.S. Government Obligations and U.S. Treasury Obligations, ranging
in par value $2,472 - $3,896,820, 0.500% - 6.500%, 05/12/2027 -
05/01/2056, with a total market value of $9,497,727) |
|
|
9,348,459 |
|
|
|
9,348,459 |
|
Deutsche
Bank Securities, Inc.
3.640%, dated 04/30/2026, to be repurchased on
05/01/2026, repurchase price $639,941 (collateralized by various U.S.
Treasury Obligations, ranging in par value $100,080 - $695,247, 3.000% -
3.250%, 05/15/2042 - 02/15/2048, with a total market value of $641,699) |
|
|
639,876 |
|
|
|
639,876 |
|
JP
Morgan Securities LLC
3.650%, dated 04/30/2026, to be repurchased on
05/01/2026, repurchase price $1,518,392 (collateralized by various U.S.
Government Obligations, ranging in par value $1,670 - $489,039, 3.500% -
7.000%, 08/01/2040 - 05/01/2056, with a total market value of
$1,541,471) |
|
|
1,518,238 |
|
|
|
1,518,238 |
|
Mizuho
Securities USA LLC
3.640%, dated 04/30/2026, to be repurchased on
05/01/2026, repurchase price $228,753 (collateralized by various U.S.
Treasury Obligations, ranging in par value $227,738, 4.375%, 05/15/2034,
with a total market value of $228,736) |
|
|
228,730 |
|
|
|
228,730 |
|
The accompanying notes are an integral part of the
financial statements.
3
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Silver Miners
ETF |
| |
|
Face Amount |
|
|
Value |
|
| REPURCHASE AGREEMENTS(B) —
continued |
|
|
|
|
|
|
|
|
RBC
Dominion Securities, Inc.
3.640%, dated 04/30/2026, to be repurchased
on 05/01/2026, repurchase price $9,349,404 (collateralized by various U.S.
Government Obligations and U.S. Treasury Obligations, ranging in par value
$8,909 - $9,284,026, 0.000% - 5.000%, 08/18/2026 - 02/01/2056, with a
total market value of $9,472,881) |
|
$ |
9,348,459 |
|
|
$ |
9,348,459 |
|
Standard
Chartered Bank
3.650%, dated 04/30/2026, to be repurchased on
05/01/2026, repurchase price $9,349,407 (collateralized by various U.S.
Government Obligations and U.S. Treasury Obligations, ranging in par value
$28,718 - $7,802,598, 0.125% - 5.000%, 05/31/2028 - 03/20/2056, with a
total market value of $9,500,789) |
|
|
9,348,459 |
|
|
|
9,348,459 |
|
TOTAL
REPURCHASE AGREEMENTS
(Cost $39,780,680) |
|
|
|
|
|
|
39,780,680 |
|
TOTAL
INVESTMENTS — 100.9%
(Cost $3,530,449,133) |
|
|
|
|
|
$ |
5,085,477,304 |
|
Percentages are based on Net Assets of
$5,040,176,914.
| * |
Non-income producing security. |
| (A) |
This
security or a partial position of this security is on loan at April 30,
2026. The total market value of securities on loan at April 30, 2026
was $94,665,924. |
| (B) |
These
securities were purchased with cash collateral held from securities on
loan. The total value of such securities as of April 30, 2026 was
$39,780,680. The total value of non-cash collateral held from securities
on loan as of April 30, 2026 was $54,645,906. |
The accompanying notes are an integral part of the
financial statements.
4
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Silver Miners
ETF |
The following is a summary of the level of inputs
used as of April 30, 2026, in valuing the Fund’s investments carried at
value:
| Investments
in Securities |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
| Common
Stock |
|
$ |
5,045,696,624 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
5,045,696,624 |
|
| Repurchase
Agreements |
|
|
— |
|
|
|
39,780,680 |
|
|
|
— |
|
|
|
39,780,680 |
|
| Total
Investments in Securities |
|
$ |
5,045,696,624 |
|
|
$ |
39,780,680 |
|
|
$ |
— |
|
|
$ |
5,085,477,304 |
|
Amounts designated as “—” are $0 or have been rounded
to $0.
See “Glossary” for abbreviations.
The accompanying notes are an integral part of the
financial statements.
5
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Copper Miners ETF |
| |
|
Shares |
|
|
Value |
|
| COMMON
STOCK — 100.0% |
|
|
|
|
|
|
|
|
| AUSTRALIA
— 14.6% |
|
|
|
|
|
|
|
|
| Materials
— 14.6% |
|
|
|
|
|
|
|
|
| BHP
Group |
|
|
8,962,524 |
|
|
$ |
346,149,879 |
|
| Develop
Global *(A) |
|
|
10,208,797 |
|
|
|
38,679,694 |
|
| FireFly
Metals * |
|
|
29,361,963 |
|
|
|
41,797,290 |
|
| Glencore
PLC |
|
|
47,582,666 |
|
|
|
367,124,657 |
|
| Sandfire
Resources * |
|
|
18,433,896 |
|
|
|
216,156,820 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
AUSTRALIA |
|
|
|
|
|
|
1,009,908,340 |
|
| BRAZIL
— 1.5% |
|
|
|
|
|
|
|
|
| Materials
— 1.5% |
|
|
|
|
|
|
|
|
| ERO
Copper * |
|
|
3,936,122 |
|
|
|
101,533,498 |
|
| |
|
|
|
|
|
|
|
|
| CANADA
— 19.9% |
|
|
|
|
|
|
|
|
| Materials
— 19.9% |
|
|
|
|
|
|
|
|
| Altius
Minerals |
|
|
1,845,308 |
|
|
|
66,797,682 |
|
| Amerigo
Resources |
|
|
5,501,555 |
|
|
|
23,201,033 |
|
| Capstone
Copper * |
|
|
26,137,513 |
|
|
|
217,380,536 |
|
| Collective
Mining * |
|
|
1,869,289 |
|
|
|
33,977,085 |
|
| Faraday
Copper * |
|
|
8,589,644 |
|
|
|
29,534,592 |
|
| HudBay
Minerals |
|
|
14,410,951 |
|
|
|
332,666,285 |
|
| NGEx
Minerals * |
|
|
5,530,948 |
|
|
|
102,117,936 |
|
| Northern
Dynasty Minerals *(A) |
|
|
22,061,804 |
|
|
|
46,357,181 |
|
| Osisko
Metals * |
|
|
23,588,778 |
|
|
|
27,035,849 |
|
| Solaris
Resources * |
|
|
3,663,616 |
|
|
|
37,440,966 |
|
| Taseko
Mines * |
|
|
14,273,056 |
|
|
|
102,195,081 |
|
| Teck
Resources, Cl B |
|
|
6,207,470 |
|
|
|
361,657,755 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
CANADA |
|
|
|
|
|
|
1,380,361,981 |
|
| CHILE
— 9.3% |
|
|
|
|
|
|
|
|
| Materials
— 9.3% |
|
|
|
|
|
|
|
|
| Antofagasta
PLC |
|
|
7,041,475 |
|
|
|
339,625,442 |
|
| Lundin
Mining, Cl Common Subs. Receipt |
|
|
12,007,281 |
|
|
|
307,526,130 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
CHILE |
|
|
|
|
|
|
647,151,572 |
|
| CHINA
— 15.1% |
|
|
|
|
|
|
|
|
| Materials
— 15.1% |
|
|
|
|
|
|
|
|
| China
Gold International Resources |
|
|
9,473,200 |
|
|
|
200,256,827 |
|
The accompanying notes are an integral part of the
financial statements.
6
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Copper Miners
ETF |
| |
|
Shares |
|
|
Value |
|
| COMMON
STOCK — continued |
|
|
|
|
|
|
|
|
| Materials
— continued |
|
|
|
|
|
|
|
|
| China
Nonferrous Mining |
|
|
51,577,000 |
|
|
$ |
88,224,899 |
|
| Jiangxi
Copper, Cl H |
|
|
40,270,001 |
|
|
|
188,247,957 |
|
| MMG
* |
|
|
157,328,360 |
|
|
|
166,893,081 |
|
| Wanguo
Gold Group (A) |
|
|
46,696,860 |
|
|
|
66,226,534 |
|
| Zijin
Mining Group, Cl H |
|
|
74,280,035 |
|
|
|
338,319,662 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
CHINA |
|
|
|
|
|
|
1,048,168,960 |
|
| CONGO,
THE DEMOCRATIC REPUBLIC OF — 3.6% |
|
|
|
|
|
|
|
|
| Materials
— 3.6% |
|
|
|
|
|
|
|
|
| Ivanhoe
Mines, Cl A *(A) |
|
|
31,208,885 |
|
|
|
252,220,803 |
|
| |
|
|
|
|
|
|
|
|
| GERMANY
— 3.1% |
|
|
|
|
|
|
|
|
| Materials
— 3.1% |
|
|
|
|
|
|
|
|
| Aurubis
(A) |
|
|
1,009,648 |
|
|
|
217,094,217 |
|
| |
|
|
|
|
|
|
|
|
| JAPAN
— 7.2% |
|
|
|
|
|
|
|
|
| Materials
— 7.2% |
|
|
|
|
|
|
|
|
| Mitsubishi
Materials |
|
|
4,929,995 |
|
|
|
160,196,130 |
|
| Nittetsu
Mining (A) |
|
|
1,665,330 |
|
|
|
25,632,723 |
|
| Sumitomo
Metal Mining |
|
|
5,188,032 |
|
|
|
311,967,235 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
JAPAN |
|
|
|
|
|
|
497,796,088 |
|
| MEXICO
— 4.7% |
|
|
|
|
|
|
|
|
| Materials
— 4.7% |
|
|
|
|
|
|
|
|
| Southern
Copper (A) |
|
|
1,906,887 |
|
|
|
327,393,429 |
|
| |
|
|
|
|
|
|
|
|
| POLAND
— 4.8% |
|
|
|
|
|
|
|
|
| Materials
— 4.8% |
|
|
|
|
|
|
|
|
| KGHM
Polska Miedz * |
|
|
4,009,150 |
|
|
|
334,482,454 |
|
| |
|
|
|
|
|
|
|
|
| SAUDI
ARABIA — 0.7% |
|
|
|
|
|
|
|
|
| Materials
— 0.7% |
|
|
|
|
|
|
|
|
| Al
Masane Al Kobra Mining (A) |
|
|
2,086,541 |
|
|
|
45,285,812 |
|
The accompanying notes are an integral part of the
financial statements.
7
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Copper Miners
ETF |
| |
|
Shares |
|
|
Value |
|
| COMMON
STOCK — continued |
|
|
|
|
|
|
|
|
| SPAIN
— 0.7% |
|
|
|
|
|
|
|
|
| Materials
— 0.7% |
|
|
|
|
|
|
|
|
| Atalaya
Mining Copper SA |
|
|
4,730,285 |
|
|
$ |
47,757,932 |
|
| |
|
|
|
|
|
|
|
|
| SWEDEN
— 4.5% |
|
|
|
|
|
|
|
|
| Materials
— 4.5% |
|
|
|
|
|
|
|
|
| Boliden
(A) |
|
|
6,036,217 |
|
|
|
313,231,637 |
|
| |
|
|
|
|
|
|
|
|
| UNITED
STATES — 5.8% |
|
|
|
|
|
|
|
|
| Materials
— 5.8% |
|
|
|
|
|
|
|
|
| Arizona
Sonoran Copper * |
|
|
6,752,475 |
|
|
|
37,555,092 |
|
| Freeport-McMoRan
|
|
|
5,257,376 |
|
|
|
303,771,185 |
|
| Ivanhoe
Electric * |
|
|
4,821,367 |
|
|
|
61,858,139 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
UNITED STATES |
|
|
|
|
|
|
403,184,416 |
|
| ZAMBIA
— 4.5% |
|
|
|
|
|
|
|
|
| Materials
— 4.5% |
|
|
|
|
|
|
|
|
| First
Quantum Minerals * |
|
|
12,604,042 |
|
|
|
307,993,856 |
|
| |
|
|
|
|
|
|
|
|
TOTAL
COMMON STOCK
(Cost $6,039,581,639) |
|
|
|
|
|
|
6,933,564,995 |
|
| |
|
|
|
|
|
|
|
|
| |
|
Face Amount |
|
|
|
|
|
| REPURCHASE AGREEMENTS(B) —
2.2% |
|
|
|
|
|
|
|
|
Cantor
Fitzgerald Securities
3.660%, dated 04/30/2026, to be repurchased on
05/01/2026, repurchase price $36,307,931 (collateralized by various U.S.
Government Obligations, ranging in par value $28,616 - $6,899,984, 2.000%
- 6.809%, 04/01/2033 - 09/20/2075, with a total market value of
$36,877,674) |
|
$ |
36,304,240 |
|
|
|
36,304,240 |
|
The accompanying notes are an integral part of the
financial statements.
8
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Copper Miners
ETF |
| |
|
Face Amount |
|
|
Value |
|
| REPURCHASE AGREEMENTS(B) —
continued |
|
|
|
|
|
|
|
|
CF
Secured LLC
3.650%, dated 04/30/2026, to be repurchased on 05/01/2026,
repurchase price $9,537,740 (collateralized by various U.S. Government
Obligations and U.S. Treasury Obligations, ranging in par value $8,948 -
$1,871,384, 2.000% - 7.000%, 05/23/2028 - 03/01/2056, with a total market
value of $9,690,874) |
|
$ |
9,536,773 |
|
|
$ |
9,536,773 |
|
Clear
Street LLC
3.690%, dated 04/30/2026, to be repurchased on 05/01/2026,
repurchase price $27,928,814 (collateralized by various U.S. Government
Obligations, ranging in par value $42,920 - $7,999,389, 2.750% - 6.000%,
03/01/2033 - 06/01/2054, with a total market value of $28,185,241) |
|
|
27,925,952 |
|
|
|
27,925,952 |
|
Daiwa
Capital Markets America, Inc.
3.650%, dated 04/30/2026, to be
repurchased on 05/01/2026, repurchase price $36,307,921 (collateralized by
various U.S. Government Obligations and U.S. Treasury Obligations, ranging
in par value $9,601 - $15,133,091, 0.500% - 6.500%, 05/12/2027 -
05/01/2056, with a total market value of $36,883,916) |
|
|
36,304,240 |
|
|
|
36,304,240 |
|
JP
Morgan Securities LLC
3.650%, dated 04/30/2026, to be repurchased on
05/01/2026, repurchase price $8,111,506 (collateralized by various U.S.
Government Obligations, ranging in par value $8,922 - $2,612,528, 3.500% -
7.000%, 08/01/2040 - 05/01/2056, with a total market value of
$8,234,797) |
|
|
8,110,684 |
|
|
|
8,110,684 |
|
The accompanying notes are an integral part of the
financial statements.
9
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Copper Miners
ETF |
| |
|
Face Amount |
|
|
Value |
|
| REPURCHASE AGREEMENTS(B) —
continued |
|
|
|
|
|
|
|
|
Nomura
Securities International, Inc.
3.650%, dated 04/30/2026, to be
repurchased on 05/01/2026, repurchase price $36,307,921 (collateralized by
various U.S. Government Obligations, ranging in par value $19,677 -
$6,152,044, 2.500% - 6.500%, 09/01/2028 - 09/01/2062, with a total market
value of $36,869,255) |
|
$ |
36,304,240 |
|
|
$ |
36,304,240 |
|
TOTAL
REPURCHASE AGREEMENTS
(Cost $154,486,129) |
|
|
|
|
|
|
154,486,129 |
|
TOTAL
INVESTMENTS — 102.2%
(Cost $6,194,067,768) |
|
|
|
|
|
$ |
7,088,051,124 |
|
Percentages are based on Net Assets of
$6,938,326,322.
| * |
Non-income producing security. |
| (A) |
This
security or a partial position of this security is on loan at April 30,
2026. The total market value of securities on loan at April 30, 2026
was $183,641,079. |
| (B) |
These
securities were purchased with cash collateral held from securities on
loan. The total value of such securities as of April 30, 2026 was
$154,486,129. The total value of non-cash collateral held from securities
on loan as of April 30, 2026 was $35,956,783. |
The following is a summary of the level of inputs
used as of April 30, 2026, in valuing the Fund’s investments carried at
value:
| Investments
in Securities |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
| Common
Stock |
|
$ |
6,933,564,995 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
6,933,564,995 |
|
| Repurchase
Agreements |
|
|
— |
|
|
|
154,486,129 |
|
|
|
— |
|
|
|
154,486,129 |
|
| Total
Investments in Securities |
|
$ |
6,933,564,995 |
|
|
$ |
154,486,129 |
|
|
$ |
— |
|
|
$ |
7,088,051,124 |
|
Amounts designated as “—” are $0 or have been rounded
to $0.
See “Glossary” for abbreviations.
The accompanying notes are an integral part of the
financial statements.
10
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Gold Explorers
ETF |
| |
|
Shares |
|
|
Value |
|
| COMMON
STOCK — 100.0% |
|
|
|
|
|
|
|
|
| AUSTRALIA
— 25.8% |
|
|
|
|
|
|
|
|
| Materials
— 25.8% |
|
|
|
|
|
|
|
|
| Bellevue
Gold * |
|
|
1,006,049 |
|
|
$ |
1,074,097 |
|
| Capricorn
Metals |
|
|
275,270 |
|
|
|
2,242,264 |
|
| Catalyst
Metals * |
|
|
167,833 |
|
|
|
623,829 |
|
| Emerald
Resources NL * |
|
|
364,941 |
|
|
|
1,516,521 |
|
| Firefinch
*(A)(B) |
|
|
825,148 |
|
|
|
— |
|
| Genesis
Minerals * |
|
|
684,062 |
|
|
|
2,857,390 |
|
| Greatland
Resources * |
|
|
356,404 |
|
|
|
3,503,890 |
|
| OceanaGold |
|
|
160,662 |
|
|
|
4,964,693 |
|
| Ora
Banda Mining *(B) |
|
|
929,409 |
|
|
|
882,020 |
|
| Pantoro
Gold * |
|
|
251,175 |
|
|
|
586,891 |
|
| Perseus
Mining |
|
|
937,738 |
|
|
|
3,660,827 |
|
| Ramelius
Resources |
|
|
1,304,238 |
|
|
|
3,150,605 |
|
| Regis
Resources |
|
|
513,744 |
|
|
|
2,555,940 |
|
| Resolute
Mining * |
|
|
1,450,103 |
|
|
|
1,209,357 |
|
| Vault
Minerals |
|
|
677,403 |
|
|
|
2,186,711 |
|
| Westgold
Resources |
|
|
655,292 |
|
|
|
2,520,499 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
AUSTRALIA |
|
|
|
|
|
|
33,535,534 |
|
| CANADA
— 47.2% |
|
|
|
|
|
|
|
|
| Materials
— 47.2% |
|
|
|
|
|
|
|
|
| Alamos
Gold, Cl A |
|
|
120,583 |
|
|
|
4,801,704 |
|
| Allied
Gold * |
|
|
66,771 |
|
|
|
2,003,474 |
|
| Artemis
Gold * |
|
|
104,313 |
|
|
|
2,632,541 |
|
| Centerra
Gold, Cl Common Subs. Receipt |
|
|
138,740 |
|
|
|
2,409,679 |
|
| Discovery
Silver * |
|
|
449,042 |
|
|
|
2,764,655 |
|
| DPM
Metals |
|
|
150,007 |
|
|
|
5,026,684 |
|
| Endeavour
Silver * |
|
|
206,275 |
|
|
|
1,900,440 |
|
| Equinox
Gold |
|
|
394,063 |
|
|
|
5,495,052 |
|
| Fortuna
Mining * |
|
|
212,603 |
|
|
|
2,046,212 |
|
| G
Mining Ventures * |
|
|
119,018 |
|
|
|
4,116,793 |
|
| K92
Mining * |
|
|
166,544 |
|
|
|
3,054,102 |
|
| Lundin
Gold |
|
|
69,344 |
|
|
|
4,650,954 |
|
| McEwen
* |
|
|
35,562 |
|
|
|
770,984 |
|
| Montage
Gold * |
|
|
166,950 |
|
|
|
1,646,072 |
|
| Novagold
Resources * |
|
|
230,005 |
|
|
|
1,853,840 |
|
| Orla
Mining |
|
|
215,050 |
|
|
|
2,812,350 |
|
| Seabridge
Gold * |
|
|
59,769 |
|
|
|
1,670,544 |
|
| Skeena
Resources * |
|
|
69,425 |
|
|
|
2,020,369 |
|
The accompanying notes are an integral part of the
financial statements.
11
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Gold Explorers
ETF |
| |
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
| COMMON
STOCK — continued |
|
|
|
|
|
|
|
|
| Materials
— continued |
|
|
|
|
|
|
|
|
| Southern
Cross Gold Consolidated * |
|
|
146,010 |
|
|
$ |
1,051,281 |
|
| SSR
Mining * |
|
|
140,240 |
|
|
|
4,030,702 |
|
| Torex
Gold Resources |
|
|
66,331 |
|
|
|
2,726,145 |
|
| Victoria
Gold *(A) |
|
|
43,114 |
|
|
|
— |
|
| Wesdome
Gold Mines * |
|
|
104,901 |
|
|
|
1,860,488 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
CANADA |
|
|
|
|
|
|
61,345,065 |
|
| CHINA
— 0.9% |
|
|
|
|
|
|
|
|
| Materials
— 0.9% |
|
|
|
|
|
|
|
|
| Wanguo
Gold Group (B) |
|
|
819,100 |
|
|
|
1,161,666 |
|
| |
|
|
|
|
|
|
|
|
| COLOMBIA
— 1.9% |
|
|
|
|
|
|
|
|
| Materials
— 1.9% |
|
|
|
|
|
|
|
|
| Aris
Mining * |
|
|
139,539 |
|
|
|
2,489,168 |
|
| |
|
|
|
|
|
|
|
|
| INDONESIA
— 4.6% |
|
|
|
|
|
|
|
|
| Materials
— 4.6% |
|
|
|
|
|
|
|
|
| Aneka
Tambang |
|
|
5,879,334 |
|
|
|
1,270,289 |
|
| Bumi
Resources Minerals * |
|
|
64,011,000 |
|
|
|
2,976,826 |
|
| Merdeka
Copper Gold * |
|
|
9,378,653 |
|
|
|
1,750,032 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
INDONESIA |
|
|
|
|
|
|
5,997,147 |
|
| PERU
— 1.4% |
|
|
|
|
|
|
|
|
| Materials
— 1.4% |
|
|
|
|
|
|
|
|
| Hochschild
Mining |
|
|
214,881 |
|
|
|
1,819,095 |
|
| |
|
|
|
|
|
|
|
|
| SOUTH
AFRICA — 2.4% |
|
|
|
|
|
|
|
|
| Materials
— 2.4% |
|
|
|
|
|
|
|
|
| DRDGOLD |
|
|
301,452 |
|
|
|
820,238 |
|
| Pan
African Resources |
|
|
1,179,320 |
|
|
|
2,237,106 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
SOUTH AFRICA |
|
|
|
|
|
|
3,057,344 |
|
| TURKEY
— 3.3% |
|
|
|
|
|
|
|
|
| Materials
— 3.3% |
|
|
|
|
|
|
|
|
| Eldorado
Gold |
|
|
137,984 |
|
|
|
4,254,786 |
|
The accompanying notes are an integral part of the
financial statements.
12
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Gold Explorers
ETF |
| |
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
| COMMON
STOCK — continued |
|
|
|
|
|
|
|
|
| UNITED
STATES — 12.5% |
|
|
|
|
|
|
|
|
| Materials
— 12.5% |
|
|
|
|
|
|
|
|
| Aura
Minerals |
|
|
21,828 |
|
|
$ |
1,850,359 |
|
| Coeur
Mining * |
|
|
298,968 |
|
|
|
5,372,455 |
|
| Hecla
Mining |
|
|
381,533 |
|
|
|
6,875,225 |
|
| Perpetua
Resources * |
|
|
79,015 |
|
|
|
2,178,703 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
UNITED STATES |
|
|
|
|
|
|
16,276,742 |
|
TOTAL
COMMON STOCK
(Cost $82,279,967) |
|
|
|
|
|
|
129,936,547 |
|
| |
|
|
|
|
|
|
|
|
| |
|
Face Amount |
|
|
|
|
|
| REPURCHASE AGREEMENTS(C) —
0.8% |
|
|
|
|
|
|
|
|
Citadel
Securities LLC
3.710%, dated 04/30/2026, to be repurchased on
05/01/2026, repurchase price $249,026 (collateralized by various U.S.
Treasury Obligations, ranging in par value $17 - $21,614, 0.000% - 6.750%,
05/15/2026 - 02/15/2056, with a total market value of $253,272) |
|
$ |
249,000 |
|
|
|
249,000 |
|
Citigroup
Global Markets, Inc.
3.640%, dated 04/30/2026, to be repurchased on
05/01/2026, repurchase price $22,088 (collateralized by various U.S.
Treasury Obligations, ranging in par value $932 - $21,748, 1.250% -
3.500%, 06/30/2028 - 02/15/2029, with a total market value of $22,368) |
|
|
22,086 |
|
|
|
22,086 |
|
Daiwa
Capital Markets America, Inc.
3.650%, dated 04/30/2026, to be
repurchased on 05/01/2026, repurchase price $249,025 (collateralized by
various U.S. Government Obligations and U.S. Treasury Obligations, ranging
in par value $66 - $103,793, 0.500% - 6.500%, 05/12/2027 - 05/01/2056,
with a total market value of $252,976) |
|
|
249,000 |
|
|
|
249,000 |
|
The accompanying notes are an integral part of the
financial statements.
13
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Gold Explorers
ETF |
| |
|
|
|
|
|
|
| |
|
Face Amount |
|
|
Value |
|
| REPURCHASE AGREEMENTS(C) —
continued |
|
|
|
|
|
|
|
|
Deutsche
Bank Securities, Inc.
3.640%, dated 04/30/2026, to be repurchased on
05/01/2026, repurchase price $249,025 (collateralized by various U.S.
Treasury Obligations, ranging in par value $38,945 - $270,547, 3.000% -
3.250%, 05/15/2042 - 02/15/2048, with a total market value of $249,709) |
|
$ |
249,000 |
|
|
$ |
249,000 |
|
RBC
Dominion Securities, Inc.
3.630%, dated 04/30/2026, to be repurchased
on 05/01/2026, repurchase price $249,025 (collateralized by various U.S.
Treasury Obligations, ranging in par value $244 - $140,438, 0.000% -
4.625%, 05/31/2027 - 02/15/2051, with a total market value of $253,949) |
|
|
249,000 |
|
|
|
249,000 |
|
TOTAL
REPURCHASE AGREEMENTS
(Cost $1,018,086) |
|
|
|
|
|
|
1,018,086 |
|
TOTAL
INVESTMENTS — 100.8%
(Cost $83,298,053) |
|
|
|
|
|
$ |
130,954,633 |
|
Percentages are based on Net Assets of
$129,897,664.
| * |
Non-income producing security. |
| (A) |
Level 3
security in accordance with fair value hierarchy. |
| (B) |
This
security or a partial position of this security is on loan at April 30,
2026. The total market value of securities on loan at April 30, 2026
was $926,712. |
| (C) |
These
securities were purchased with cash collateral held from securities on
loan. The total value of such securities as of April 30, 2026 was
$1,018,086. The total value of non-cash collateral held from securities on
loan as of April 30, 2026 was $55,462. |
The accompanying notes are an integral part of the
financial statements.
14
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Gold Explorers
ETF |
The following is a summary of the level of inputs
used as of April 30, 2026, in valuing the Fund’s investments carried at
value:
| Investments
in Securities |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3(1) |
|
|
Total |
|
| Common
Stock |
|
$ |
129,936,547 |
|
|
$ |
— |
|
|
$ |
— |
^ |
|
$ |
129,936,547 |
|
| Repurchase
Agreements |
|
|
— |
|
|
|
1,018,086 |
|
|
|
— |
|
|
|
1,018,086 |
|
| Total
Investments in Securities |
|
$ |
129,936,547 |
|
|
$ |
1,018,086 |
|
|
$ |
— |
|
|
$ |
130,954,633 |
|
| |
|
| (1) |
A reconciliation of Level 3
investments and disclosures of significant unobservable inputs are
presented when the Fund has a significant amount of Level 3 investments at
the end of the period in relation to Net Assets. Management has concluded
that Level 3 investments are not material in relation to Net
Assets. |
| ^ |
Includes Securities in which the fair
value is $0 or has been rounded to $0. |
Amounts designated as “—” are $0 or have been rounded
to $0.
See “Glossary” for abbreviations.
The accompanying notes are an integral part of the
financial statements.
15
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Uranium ETF |
| |
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
| COMMON
STOCK — 95.7% |
|
|
|
|
|
|
|
|
| AUSTRALIA
— 8.5% |
|
|
|
|
|
|
|
|
| Energy
— 5.4% |
|
|
|
|
|
|
|
|
| Alligator
Energy *(A) |
|
|
264,109,201 |
|
|
$ |
7,595,238 |
|
| Atomic
Eagle *(B) |
|
|
14,037,096 |
|
|
|
3,734,022 |
|
| Aura
Energy *(B) |
|
|
48,909,766 |
|
|
|
4,571,269 |
|
| Bannerman
Energy *(A)(B) |
|
|
12,147,774 |
|
|
|
35,109,173 |
|
| Berkeley
Energia *(A) |
|
|
29,281,628 |
|
|
|
8,552,840 |
|
| Boss
Energy *(A)(B) |
|
|
25,680,097 |
|
|
|
25,663,111 |
|
| Deep
Yellow *(A) |
|
|
59,353,537 |
|
|
|
76,169,775 |
|
| Elevate
Uranium *(A)(B) |
|
|
26,316,690 |
|
|
|
5,203,096 |
|
| Lotus
Resources *(A)(B) |
|
|
14,150,152 |
|
|
|
9,562,838 |
|
| Paladin
Energy *(A) |
|
|
28,996,558 |
|
|
|
240,157,844 |
|
| Peninsula
Energy *(B) |
|
|
19,164,723 |
|
|
|
6,820,333 |
|
| |
|
|
|
|
|
|
423,139,539 |
|
| Industrials
— 0.8% |
|
|
|
|
|
|
|
|
| Silex
Systems *(A)(B) |
|
|
14,864,052 |
|
|
|
59,523,747 |
|
| |
|
|
|
|
|
|
|
|
| Materials
— 2.3% |
|
|
|
|
|
|
|
|
| Anson
Resources *(B) |
|
|
73,810,611 |
|
|
|
2,759,434 |
|
| BHP
Group |
|
|
4,453,974 |
|
|
|
172,021,024 |
|
| |
|
|
|
|
|
|
174,780,458 |
|
| TOTAL
AUSTRALIA |
|
|
|
|
|
|
657,443,744 |
|
| CANADA
— 36.3% |
|
|
|
|
|
|
|
|
| Energy
— 34.1% |
|
|
|
|
|
|
|
|
| Anfield
Energy, Cl Common Subs. Receipt * |
|
|
673,475 |
|
|
|
3,404,238 |
|
| Atha
Energy * |
|
|
20,481,856 |
|
|
|
16,552,819 |
|
| Cameco |
|
|
14,672,933 |
|
|
|
1,800,078,137 |
|
| CanAlaska
Uranium * |
|
|
13,320,697 |
|
|
|
6,948,567 |
|
| Denison
Mines * |
|
|
58,479,093 |
|
|
|
223,415,828 |
|
| Encore
Energy *(B) |
|
|
11,874,263 |
|
|
|
23,118,652 |
|
| F3
Uranium * |
|
|
39,535,750 |
|
|
|
5,373,678 |
|
| Forsys
Metals *(B) |
|
|
10,094,426 |
|
|
|
2,781,140 |
|
| IsoEnergy
* |
|
|
2,237,019 |
|
|
|
26,756,792 |
|
| Laramide
Resources * |
|
|
13,310,353 |
|
|
|
7,432,127 |
|
| Mega
Uranium * |
|
|
21,838,901 |
|
|
|
11,712,878 |
|
| NexGen
Energy *(B) |
|
|
38,924,993 |
|
|
|
487,885,079 |
|
| Skyharbour
Resources * |
|
|
13,099,540 |
|
|
|
4,763,994 |
|
| Uranium
Royalty *(B) |
|
|
7,710,272 |
|
|
|
30,023,100 |
|
The accompanying notes are an integral part of the
financial statements.
16
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Uranium
ETF |
| |
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
| COMMON
STOCK — continued |
|
|
|
|
|
|
|
|
| Energy
— continued |
|
|
|
|
|
|
|
|
| Western
Uranium & Vanadium *(B) |
|
|
4,379,243 |
|
|
$ |
2,541,769 |
|
| |
|
|
|
|
|
|
2,652,788,798 |
|
| Industrials
— 1.9% |
|
|
|
|
|
|
|
|
| Aecon
Group |
|
|
4,055,601 |
|
|
|
148,863,292 |
|
| |
|
|
|
|
|
|
|
|
| Materials
— 0.3% |
|
|
|
|
|
|
|
|
| American
Lithium *(B) |
|
|
15,424,294 |
|
|
|
7,252,625 |
|
| Global
Atomic *(B) |
|
|
25,393,428 |
|
|
|
14,738,673 |
|
| |
|
|
|
|
|
|
21,991,298 |
|
| TOTAL
CANADA |
|
|
|
|
|
|
2,823,643,388 |
|
| CHINA
— 1.1% |
|
|
|
|
|
|
|
|
| Energy
— 1.1% |
|
|
|
|
|
|
|
|
| CGN
Mining (B) |
|
|
174,343,700 |
|
|
|
86,573,734 |
|
| |
|
|
|
|
|
|
|
|
| JAPAN
— 3.6% |
|
|
|
|
|
|
|
|
| Industrials
— 3.6% |
|
|
|
|
|
|
|
|
| ITOCHU
|
|
|
11,116,863 |
|
|
|
137,484,321 |
|
| Mitsubishi
Heavy Industries |
|
|
4,865,664 |
|
|
|
143,294,977 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
JAPAN |
|
|
|
|
|
|
280,779,298 |
|
| KAZAKHSTAN
— 4.8% |
|
|
|
|
|
|
|
|
| Energy
— 4.8% |
|
|
|
|
|
|
|
|
| NAC
Kazatomprom JSC GDR |
|
|
4,261,947 |
|
|
|
374,198,947 |
|
| |
|
|
|
|
|
|
|
|
| SOUTH
AFRICA — 1.3% |
|
|
|
|
|
|
|
|
| Materials
— 1.3% |
|
|
|
|
|
|
|
|
| Sibanye
Stillwater (B) |
|
|
33,936,134 |
|
|
|
100,934,597 |
|
| |
|
|
|
|
|
|
|
|
| SOUTH
KOREA — 15.1% |
|
|
|
|
|
|
|
|
| Industrials
— 15.1% |
|
|
|
|
|
|
|
|
| Daewoo
Engineering & Construction * |
|
|
13,402,068 |
|
|
|
316,256,998 |
|
| Doosan
Enerbility * |
|
|
2,419,515 |
|
|
|
207,335,731 |
|
| GS
Engineering & Construction (A) |
|
|
4,295,731 |
|
|
|
110,202,646 |
|
| Hyundai
Engineering & Construction |
|
|
2,167,602 |
|
|
|
236,460,358 |
|
| KEPCO
Engineering & Construction |
|
|
1,218,087 |
|
|
|
154,888,895 |
|
The accompanying notes are an integral part of the
financial statements.
17
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Uranium
ETF |
| |
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
| COMMON
STOCK — continued |
|
|
|
|
|
|
|
|
| Industrials
— continued |
|
|
|
|
|
|
|
|
| Samsung
C&T |
|
|
757,113 |
|
|
$ |
152,372,054 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
SOUTH KOREA |
|
|
|
|
|
|
1,177,516,682 |
|
| UNITED
KINGDOM — 1.7% |
|
|
|
|
|
|
|
|
| Energy
— 1.7% |
|
|
|
|
|
|
|
|
| Yellow
Cake *(A) |
|
|
15,744,839 |
|
|
|
129,759,279 |
|
| |
|
|
|
|
|
|
|
|
| UNITED
STATES — 23.3% |
|
|
|
|
|
|
|
|
| Energy
— 13.6% |
|
|
|
|
|
|
|
|
| Centrus
Energy, Cl A *(A)(B) |
|
|
1,105,320 |
|
|
|
233,178,307 |
|
| Energy
Fuels *(B) |
|
|
15,300,336 |
|
|
|
330,040,309 |
|
| Uranium
Energy *(A) |
|
|
30,267,989 |
|
|
|
450,690,356 |
|
| Ur-Energy
* |
|
|
23,034,298 |
|
|
|
41,231,394 |
|
| |
|
|
|
|
|
|
1,055,140,366 |
|
| Industrials
— 2.4% |
|
|
|
|
|
|
|
|
| NANO
Nuclear Energy *(A)(B) |
|
|
2,677,867 |
|
|
|
62,608,531 |
|
| NuScale
Power *(B) |
|
|
10,058,244 |
|
|
|
125,325,720 |
|
| |
|
|
|
|
|
|
187,934,251 |
|
| Utilities
— 7.3% |
|
|
|
|
|
|
|
|
| Oklo,
Cl A *(B) |
|
|
7,846,666 |
|
|
|
568,883,285 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
UNITED STATES |
|
|
|
|
|
|
1,811,957,902 |
|
TOTAL
COMMON STOCK
(Cost $4,682,988,464) |
|
|
|
|
|
|
7,442,807,571 |
|
| |
|
|
|
|
|
|
|
|
| EXCHANGE-TRADED
PRODUCT — 4.3% |
|
|
|
|
|
|
|
|
| International
Equity — 4.3% |
|
|
|
|
|
|
|
|
| Sprott
Physical Uranium Trust *(B) |
|
|
16,094,860 |
|
|
|
336,536,416 |
|
| |
|
|
|
|
|
|
|
|
TOTAL
EXCHANGE-TRADED PRODUCT
(Cost $280,195,927) |
|
|
|
|
|
|
336,536,416 |
|
The accompanying notes are an integral part of the
financial statements.
18
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Uranium
ETF |
| |
|
|
|
|
|
|
| |
|
Face Amount |
|
|
Value |
|
| REPURCHASE AGREEMENTS(C) —
4.9% |
|
|
|
|
|
|
|
|
Cantor
Fitzgerald Securities
3.660%, dated 04/30/2026, to be repurchased on
05/01/2026, repurchase price $90,472,424 (collateralized by various U.S.
Government Obligations, ranging in par value $71,304 - $17,193,441, 2.000%
- 6.809%, 04/01/2033 - 09/20/2075, with a total market value of
$91,892,116) |
|
$ |
90,472,424 |
|
|
$ |
90,472,424 |
|
CF
Secured LLC
3.650%, dated 04/30/2026, to be repurchased on 05/01/2026,
repurchase price $90,472,399 (collateralized by various U.S. Government
Obligations and U.S. Treasury Obligations, ranging in par value $84,874 -
$17,751,434, 2.000% - 7.000%, 05/23/2028 - 03/01/2056, with a total market
value of $91,924,985) |
|
|
90,472,399 |
|
|
|
90,472,399 |
|
Clear
Street LLC
3.690%, dated 04/30/2026, to be repurchased on 05/01/2026,
repurchase price $3,024,380 (collateralized by various U.S. Government
Obligations, ranging in par value $4,648 - $866,245, 2.750% - 6.000%,
03/01/2033 - 06/01/2054, with a total market value of $3,052,148) |
|
|
3,024,380 |
|
|
|
3,024,380 |
|
Daiwa
Capital Markets America, Inc.
3.650%, dated 04/30/2026, to be
repurchased on 05/01/2026, repurchase price $90,472,399 (collateralized by
various U.S. Government Obligations and U.S. Treasury Obligations, ranging
in par value $23,923 - $37,708,771, 0.500% - 6.500%, 05/12/2027 -
05/01/2056, with a total market value of $91,907,669) |
|
|
90,472,399 |
|
|
|
90,472,399 |
|
JP
Morgan Securities LLC
3.650%, dated 04/30/2026, to be repurchased on
05/01/2026, repurchase price $20,074,962 (collateralized by various U.S.
Government Obligations, ranging in par value $22,080 - $6,465,679, 3.500%
- 7.000%, 08/01/2040 - 05/01/2056, with a total market value of
$20,380,091) |
|
|
20,074,962 |
|
|
|
20,074,962 |
|
The accompanying notes are an integral part of the
financial statements.
19
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Uranium
ETF |
| |
|
|
|
|
|
|
| |
|
Face Amount |
|
|
Value |
|
| REPURCHASE AGREEMENTS(C) —
continued |
|
|
|
|
|
|
|
|
Nomura
Securities International, Inc.
3.650%, dated 04/30/2026, to be
repurchased on 05/01/2026, repurchase price $90,472,399 (collateralized by
various U.S. Government Obligations, ranging in par value $49,031 -
$15,329,718, 2.500% - 6.500%, 09/01/2028 - 09/01/2062, with a total market
value of $91,871,136) |
|
$ |
90,472,399 |
|
|
$ |
90,472,399 |
|
TOTAL
REPURCHASE AGREEMENTS
(Cost $384,988,963) |
|
|
|
|
|
|
384,988,963 |
|
TOTAL
INVESTMENTS — 104.9%
(Cost $5,348,173,354) |
|
|
|
|
|
$ |
8,164,332,950 |
|
Percentages are based on Net Assets of
$7,780,855,428.
| * |
Non-income
producing security. |
| (A) |
Affiliated
investment. |
| (B) |
This
security or a partial position of this security is on loan at April 30,
2026. The total market value of securities on loan at April 30, 2026
was $603,627,755. |
| (C) |
These
securities were purchased with cash collateral held from securities on
loan. The total value of such securities as of April 30, 2026 was
$384,949,905. The total value of non-cash collateral held from securities
on loan as of April 30, 2026 was $198,510,889. |
The following is a summary of the level of inputs
used as of April 30, 2026, in valuing the Fund’s investments carried at
value:
| Investments
in Securities |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
| Common
Stock |
|
$ |
7,442,807,571 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
7,442,807,571 |
|
| Exchange-Traded
Product |
|
|
336,536,416 |
|
|
|
— |
|
|
|
— |
|
|
|
336,536,416 |
|
| Repurchase
Agreements |
|
|
— |
|
|
|
384,988,963 |
|
|
|
— |
|
|
|
384,988,963 |
|
| Total
Investments in Securities |
|
$ |
7,779,343,987 |
|
|
$ |
384,988,963 |
|
|
$ |
— |
|
|
$ |
8,164,332,950 |
|
The accompanying notes are an integral part of the
financial statements.
20
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Uranium
ETF |
The following is a summary of the Fund’s transactions
with affiliates for the period ended April 30, 2026:
Value
10/31/2025 |
|
|
Purchases
at Cost |
|
|
Proceeds
from Sales |
|
|
Change
in
Unrealized
Appreciation
(Depreciation) |
|
|
Realized Gain
(Loss) |
|
|
Value
4/30/2026 |
|
|
Income |
|
|
Capital Gains |
| Alligator Energy |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| $ |
3,948,522 |
|
|
$ |
1,967,147 |
|
|
$ |
(793,398 |
) |
|
$ |
2,542,402 |
|
|
$ |
(69,435 |
) |
|
$ |
7,595,238 |
|
|
$ |
— |
|
|
$ |
— |
| Bannerman Energy |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
26,121,881 |
|
|
|
9,633,536 |
|
|
|
(6,871,438 |
) |
|
|
5,079,254 |
|
|
|
1,145,940 |
|
|
|
35,109,173 |
|
|
|
— |
|
|
|
— |
| Berkeley Energia |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
8,819,999 |
|
|
|
2,816,444 |
|
|
|
(619,249 |
) |
|
|
(2,680,960 |
) |
|
|
216,606 |
|
|
|
8,552,840 |
|
|
|
— |
|
|
|
— |
| Boss Energy |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
27,587,234 |
|
|
|
8,412,787 |
|
|
|
(3,183,745 |
) |
|
|
(5,187,952 |
) |
|
|
(1,965,213 |
) |
|
|
25,663,111 |
|
|
|
— |
|
|
|
— |
| Centrus Energy,
Cl A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
309,399,483 |
|
|
|
91,334,083 |
|
|
|
(16,316,546 |
) |
|
|
(164,080,372 |
) |
|
|
12,841,659 |
|
|
|
233,178,307 |
|
|
|
— |
|
|
|
— |
| Deep Yellow |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
57,375,546 |
|
|
|
24,392,999 |
|
|
|
(9,563,179 |
) |
|
|
(773,928 |
) |
|
|
4,738,337 |
|
|
|
76,169,775 |
|
|
|
— |
|
|
|
— |
| Elevate Uranium |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
4,091,166 |
|
|
|
3,046,907 |
|
|
|
(489,481 |
) |
|
|
(1,334,995 |
) |
|
|
(110,501 |
) |
|
|
5,203,096 |
|
|
|
— |
|
|
|
— |
| GS Engineering &
Construction |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
47,019,541 |
|
|
|
18,029,687 |
|
|
|
(7,519,085 |
) |
|
|
52,717,504 |
|
|
|
(45,001 |
) |
|
|
110,202,646 |
|
|
|
— |
|
|
|
— |
| Lotus Resources |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
14,701,252 |
|
|
|
31,279,342 |
|
|
|
(23,569,330 |
) |
|
|
(12,632,553 |
) |
|
|
(215,873 |
) |
|
|
9,562,838 |
|
|
|
— |
|
|
|
— |
| NANO Nuclear Energy |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
75,058,909 |
|
|
|
37,900,388 |
|
|
|
(4,360,440 |
) |
|
|
(45,678,983 |
) |
|
|
(311,343 |
) |
|
|
62,608,531 |
|
|
|
— |
|
|
|
— |
| Paladin Energy |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
136,697,636 |
|
|
|
75,375,463 |
|
|
|
(14,516,273 |
) |
|
|
37,766,766 |
|
|
|
4,834,252 |
|
|
|
240,157,844 |
|
|
|
— |
|
|
|
— |
| Silex Systems |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
68,646,199 |
|
|
|
28,634,205 |
|
|
|
(4,180,238 |
) |
|
|
(34,873,133 |
) |
|
|
1,296,714 |
|
|
|
59,523,747 |
|
|
|
— |
|
|
|
— |
| Uranium Energy |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
362,196,767 |
|
|
|
127,272,511 |
|
|
|
(28,391,007 |
) |
|
|
(29,420,194 |
) |
|
|
19,032,279 |
|
|
|
450,690,356 |
|
|
|
— |
|
|
|
— |
| Yellow Cake |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
91,937,734 |
|
|
|
41,214,944 |
|
|
|
(7,993,103 |
) |
|
|
1,436,784 |
|
|
|
3,162,920 |
|
|
|
129,759,279 |
|
|
|
— |
|
|
|
— |
| Totals: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| $ |
1,233,601,869 |
|
|
$ |
501,310,443 |
|
|
$ |
(128,366,512 |
) |
|
$ |
(197,120,360 |
) |
|
$ |
44,551,341 |
|
|
$ |
1,453,976,781 |
|
|
$ |
— |
|
|
$ |
— |
Amounts designated as “—” are $0 or have been rounded
to $0.
See “Glossary” for abbreviations.
The accompanying notes are an integral part of the
financial statements.
21
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Gold Miners ETF |
| |
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
| COMMON
STOCK — 99.9% |
|
|
|
|
|
|
|
|
| AUSTRALIA
— 14.9% |
|
|
|
|
|
|
|
|
| Materials
— 14.9% |
|
|
|
|
|
|
|
|
| Alkane
Resources * |
|
|
7,244 |
|
|
$ |
7,812 |
|
| Anglogold
Ashanti |
|
|
4,084 |
|
|
|
382,793 |
|
| Bellevue
Gold * |
|
|
11,589 |
|
|
|
12,373 |
|
| Capricorn
Metals |
|
|
3,317 |
|
|
|
27,019 |
|
| Catalyst
Metals * |
|
|
1,962 |
|
|
|
7,293 |
|
| Dateline
Resources * |
|
|
16,317 |
|
|
|
2,640 |
|
| Emerald
Resources NL * |
|
|
4,189 |
|
|
|
17,408 |
|
| Evolution
Mining |
|
|
16,255 |
|
|
|
139,069 |
|
| Genesis
Minerals * |
|
|
8,603 |
|
|
|
35,936 |
|
| Greatland
Resources * |
|
|
4,121 |
|
|
|
39,612 |
|
| Kingsgate
Consolidated |
|
|
1,953 |
|
|
|
8,635 |
|
| Northern
Star Resources |
|
|
11,137 |
|
|
|
168,146 |
|
| OceanaGold |
|
|
1,815 |
|
|
|
56,086 |
|
| Ora
Banda Mining * |
|
|
10,743 |
|
|
|
10,195 |
|
| Pantoro
Gold * |
|
|
2,907 |
|
|
|
6,792 |
|
| Perseus
Mining |
|
|
10,863 |
|
|
|
42,408 |
|
| Predictive
Discovery * |
|
|
31,898 |
|
|
|
21,213 |
|
| Ramelius
Resources |
|
|
15,173 |
|
|
|
36,653 |
|
| Regis
Resources |
|
|
5,919 |
|
|
|
29,448 |
|
| Resolute
Mining * |
|
|
15,140 |
|
|
|
12,626 |
|
| Vault
Minerals |
|
|
8,250 |
|
|
|
26,632 |
|
| West
African Resources * |
|
|
7,623 |
|
|
|
16,168 |
|
| Westgold
Resources |
|
|
7,583 |
|
|
|
29,167 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
AUSTRALIA |
|
|
|
|
|
|
1,136,124 |
|
| BRAZIL
— 6.1% |
|
|
|
|
|
|
|
|
| Materials
— 6.1% |
|
|
|
|
|
|
|
|
| Wheaton
Precious Metals |
|
|
3,673 |
|
|
|
464,488 |
|
| |
|
|
|
|
|
|
|
|
| BURKINA
FASO — 1.1% |
|
|
|
|
|
|
|
|
| Materials
— 1.1% |
|
|
|
|
|
|
|
|
| IAMGOLD
* |
|
|
4,762 |
|
|
|
80,335 |
|
| |
|
|
|
|
|
|
|
|
| CANADA
— 42.9% |
|
|
|
|
|
|
|
|
| Materials
— 42.9% |
|
|
|
|
|
|
|
|
| AbraSilver
Resource * |
|
|
1,151 |
|
|
|
13,598 |
|
| Agnico
Eagle Mines |
|
|
4,047 |
|
|
|
761,686 |
|
The accompanying notes are an integral part of the
financial statements.
22
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Gold Miners
ETF |
| |
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
| COMMON
STOCK — continued |
|
|
|
|
|
|
|
|
| Materials
— continued |
|
|
|
|
|
|
|
|
| Alamos
Gold, Cl A |
|
|
3,393 |
|
|
$ |
135,516 |
|
| Allied
Gold * |
|
|
793 |
|
|
|
23,711 |
|
| Americas
Gold & Silver * |
|
|
1,735 |
|
|
|
9,924 |
|
| Andean
Precious Metals * |
|
|
525 |
|
|
|
2,411 |
|
| B2Gold
|
|
|
10,195 |
|
|
|
45,877 |
|
| Barrick
Mining |
|
|
13,433 |
|
|
|
528,454 |
|
| Centerra
Gold |
|
|
1,608 |
|
|
|
28,011 |
|
| Collective
Mining * |
|
|
397 |
|
|
|
7,216 |
|
| Discovery
Silver * |
|
|
4,214 |
|
|
|
25,945 |
|
| DPM
Metals |
|
|
1,738 |
|
|
|
58,240 |
|
| Elemental
Royalty |
|
|
280 |
|
|
|
4,771 |
|
| Endeavour
Silver * |
|
|
2,385 |
|
|
|
22,014 |
|
| Equinox
Gold |
|
|
6,129 |
|
|
|
85,561 |
|
| First
Majestic Silver |
|
|
3,949 |
|
|
|
77,835 |
|
| Fortuna
Mining * |
|
|
2,448 |
|
|
|
23,623 |
|
| Franco-Nevada
|
|
|
1,548 |
|
|
|
356,566 |
|
| G
Mining Ventures * |
|
|
1,430 |
|
|
|
49,463 |
|
| G2
Goldfields * |
|
|
1,328 |
|
|
|
10,137 |
|
| Galiano
Gold * |
|
|
2,023 |
|
|
|
4,693 |
|
| GoGold
Resources * |
|
|
2,925 |
|
|
|
5,630 |
|
| Gold
Royalty * |
|
|
1,376 |
|
|
|
4,720 |
|
| Highlander
Silver * |
|
|
1,184 |
|
|
|
6,933 |
|
| i-80
Gold * |
|
|
5,903 |
|
|
|
8,855 |
|
| International
Tower Hill Mines * |
|
|
2,100 |
|
|
|
4,935 |
|
| K92
Mining * |
|
|
1,912 |
|
|
|
35,062 |
|
| Kinross
Gold |
|
|
9,675 |
|
|
|
292,572 |
|
| Lundin
Gold |
|
|
817 |
|
|
|
54,797 |
|
| McEwen
* |
|
|
420 |
|
|
|
9,106 |
|
| Metalla
Royalty & Streaming * |
|
|
571 |
|
|
|
3,803 |
|
| Montage
Gold * |
|
|
1,937 |
|
|
|
19,098 |
|
| New
Found Gold * |
|
|
1,840 |
|
|
|
3,680 |
|
| New
Pacific Metals * |
|
|
880 |
|
|
|
4,673 |
|
| Novagold
Resources * |
|
|
2,716 |
|
|
|
21,891 |
|
| OR
Royalties |
|
|
1,515 |
|
|
|
55,919 |
|
| Orezone
Gold * |
|
|
3,504 |
|
|
|
5,226 |
|
| Orla
Mining |
|
|
2,446 |
|
|
|
32,043 |
|
| Osisko
Development * |
|
|
1,479 |
|
|
|
4,422 |
|
| Pan
American Silver |
|
|
3,413 |
|
|
|
178,466 |
|
| Rio2,
Cl Common Subs. Receipt * |
|
|
3,227 |
|
|
|
6,117 |
|
The accompanying notes are an integral part of the
financial statements.
23
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Gold Miners
ETF |
| |
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
| COMMON
STOCK — continued |
|
|
|
|
|
|
|
|
| Materials
— continued |
|
|
|
|
|
|
|
|
| Rupert
Resources * |
|
|
1,604 |
|
|
$ |
12,621 |
|
| Santacruz
Silver Mining * |
|
|
685 |
|
|
|
5,384 |
|
| Seabridge
Gold * |
|
|
736 |
|
|
|
20,571 |
|
| Skeena
Resources * |
|
|
804 |
|
|
|
23,477 |
|
| Snowline
Gold * |
|
|
1,044 |
|
|
|
11,068 |
|
| Southern
Cross Gold Consolidated * |
|
|
1,531 |
|
|
|
10,842 |
|
| SSR
Mining * |
|
|
1,636 |
|
|
|
47,133 |
|
| Torex
Gold Resources |
|
|
768 |
|
|
|
31,564 |
|
| Triple
Flag Precious Metals |
|
|
1,622 |
|
|
|
51,758 |
|
| Vizsla
Silver * |
|
|
2,665 |
|
|
|
9,008 |
|
| Wesdome
Gold Mines * |
|
|
1,213 |
|
|
|
21,513 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
CANADA |
|
|
|
|
|
|
3,278,139 |
|
| CHINA
— 4.6% |
|
|
|
|
|
|
|
|
| Materials
— 4.6% |
|
|
|
|
|
|
|
|
| Chifeng
Jilong Gold Mining, Cl H |
|
|
1,600 |
|
|
|
7,353 |
|
| Lingbao
Gold Group, Cl H |
|
|
4,000 |
|
|
|
10,580 |
|
| Shandong
Gold Mining, Cl H |
|
|
7,650 |
|
|
|
27,695 |
|
| Silvercorp
Metals |
|
|
1,708 |
|
|
|
20,479 |
|
| Wanguo
Gold Group |
|
|
9,600 |
|
|
|
13,615 |
|
| Zhaojin
Mining Industry, Cl H |
|
|
13,400 |
|
|
|
48,408 |
|
| Zijin
Mining Group, Cl H |
|
|
49,100 |
|
|
|
223,633 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
CHINA |
|
|
|
|
|
|
351,763 |
|
| COLOMBIA
— 0.5% |
|
|
|
|
|
|
|
|
| Materials
— 0.5% |
|
|
|
|
|
|
|
|
| Aris
Mining * |
|
|
1,627 |
|
|
|
29,107 |
|
| Mineros |
|
|
2,161 |
|
|
|
7,923 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
COLOMBIA |
|
|
|
|
|
|
37,030 |
|
| HONG
KONG — 0.9% |
|
|
|
|
|
|
|
|
| Materials
— 0.9% |
|
|
|
|
|
|
|
|
| Tongguan
Gold Group |
|
|
16,000 |
|
|
|
5,821 |
|
| Zijin
Gold International * |
|
|
3,385 |
|
|
|
65,161 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
HONG KONG |
|
|
|
|
|
|
70,982 |
|
The accompanying notes are an integral part of the
financial statements.
24
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Gold Miners
ETF |
| |
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
| COMMON
STOCK — continued |
|
|
|
|
|
|
|
|
| IVORY
COAST — 1.4% |
|
|
|
|
|
|
|
|
| Materials
— 1.4% |
|
|
|
|
|
|
|
|
| Endeavour
Mining |
|
|
1,759 |
|
|
$ |
105,504 |
|
| |
|
|
|
|
|
|
|
|
| MEXICO
— 0.9% |
|
|
|
|
|
|
|
|
| Materials
— 0.9% |
|
|
|
|
|
|
|
|
| Fresnillo |
|
|
1,490 |
|
|
|
65,498 |
|
| |
|
|
|
|
|
|
|
|
| MOROCCO
— 0.2% |
|
|
|
|
|
|
|
|
| Materials
— 0.2% |
|
|
|
|
|
|
|
|
| Aya
Gold & Silver * |
|
|
1,112 |
|
|
|
19,183 |
|
| |
|
|
|
|
|
|
|
|
| PERU
— 1.2% |
|
|
|
|
|
|
|
|
| Materials
— 1.2% |
|
|
|
|
|
|
|
|
| Cia
de Minas Buenaventura SAA ADR |
|
|
2,055 |
|
|
|
66,972 |
|
| Hochschild
Mining |
|
|
2,553 |
|
|
|
21,613 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
PERU |
|
|
|
|
|
|
88,585 |
|
| SOUTH
AFRICA — 5.6% |
|
|
|
|
|
|
|
|
| Materials
— 5.6% |
|
|
|
|
|
|
|
|
| DRDGOLD
ADR |
|
|
347 |
|
|
|
9,424 |
|
| Gold
Fields ADR |
|
|
7,293 |
|
|
|
309,807 |
|
| Harmony
Gold Mining ADR |
|
|
5,160 |
|
|
|
81,373 |
|
| Pan
African Resources |
|
|
16,125 |
|
|
|
30,676 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
SOUTH AFRICA |
|
|
|
|
|
|
431,280 |
|
| TURKEY
— 0.6% |
|
|
|
|
|
|
|
|
| Materials
— 0.6% |
|
|
|
|
|
|
|
|
| Eldorado
Gold |
|
|
1,600 |
|
|
|
49,744 |
|
| |
|
|
|
|
|
|
|
|
| UNITED
STATES — 19.0% |
|
|
|
|
|
|
|
|
| Materials
— 19.0% |
|
|
|
|
|
|
|
|
| Aura
Minerals |
|
|
284 |
|
|
|
24,075 |
|
| Coeur
Mining * |
|
|
8,183 |
|
|
|
147,048 |
|
| Dakota
Gold * |
|
|
852 |
|
|
|
4,584 |
|
| Hecla
Mining |
|
|
5,358 |
|
|
|
96,551 |
|
| Hycroft
Mining Holding, Cl A * |
|
|
400 |
|
|
|
14,584 |
|
The accompanying notes are an integral part of the
financial statements.
25
| Schedule of Investments |
|
April 30, 2026 (Unaudited) |
| Global X Gold Miners
ETF |
| |
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
| COMMON
STOCK — continued |
|
|
|
|
|
|
|
|
| Materials
— continued |
|
|
|
|
|
|
|
|
| Newmont
|
|
|
8,804 |
|
|
$ |
978,036 |
|
| Perpetua
Resources * |
|
|
914 |
|
|
|
25,236 |
|
| Royal
Gold |
|
|
682 |
|
|
|
159,165 |
|
| |
|
|
|
|
|
|
|
|
| TOTAL
UNITED STATES |
|
|
|
|
|
|
1,449,279 |
|
TOTAL
COMMON STOCK
(Cost $8,182,784) |
|
|
|
|
|
|
7,627,934 |
|
TOTAL
INVESTMENTS — 99.9%
(Cost $8,182,784) |
|
|
|
|
|
$ |
7,627,934 |
|
Percentages are based on Net Assets of
$7,633,422.
| * |
Non-income
producing security. |
As of April 30, 2026, all of the Fund’s investments
were considered Level 1, in accordance with authoritative guidance on fair value
measurements and disclosure under U.S. GAAP.
Amounts designated as “—” are $0 or have been rounded
to $0.
See “Glossary” for abbreviations.
The accompanying notes are an integral part of the
financial statements.
26
| April 30, 2026 (Unaudited) |
| Glossary:
(abbreviations which may be used in the preceding Schedules of
Investments) |
Fund Abbreviations
ADR — American Depositary Receipt
Cl — Class
GDR — Global Depositary Receipt
JSC — Joint-Stock Company
27
Statements of Assets and
Liabilities
April 30, 2026 (Unaudited)
| |
|
Global X Silver
Miners ETF |
|
|
Global X Copper
Miners ETF |
|
|
Global X Gold
Explorers ETF |
|
| Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
| Cost
of Investments |
|
$ |
3,490,668,453 |
|
|
$ |
6,039,581,639 |
|
|
$ |
82,279,967 |
|
| Cost
of Repurchase Agreement |
|
|
39,780,680 |
|
|
|
154,486,129 |
|
|
|
1,018,086 |
|
| Investments,
at Value |
|
$ |
5,045,696,624 |
* |
|
$ |
6,933,564,995 |
* |
|
$ |
129,936,547 |
* |
| Repurchase
Agreement, at Value |
|
|
39,780,680 |
|
|
|
154,486,129 |
|
|
|
1,018,086 |
|
| Cash |
|
|
— |
|
|
|
— |
|
|
|
177,513 |
|
| Receivable
for Investment Securities Sold |
|
|
495,600,825 |
|
|
|
822,065,730 |
|
|
|
11,780,437 |
|
| Receivable
for Capital Shares Sold |
|
|
232,134,752 |
|
|
|
467,700,163 |
|
|
|
4,169,869 |
|
| Dividend,
Interest, and Securities Lending Income Receivable |
|
|
12,532,263 |
|
|
|
19,264,355 |
|
|
|
2,230 |
|
| Reclaim
Receivable |
|
|
237,390 |
|
|
|
2,764,704 |
|
|
|
2,373 |
|
| Unrealized
Appreciation on Spot Contracts |
|
|
1,453 |
|
|
|
— |
|
|
|
760 |
|
| Total
Assets |
|
|
5,825,983,987 |
|
|
|
8,399,846,076 |
|
|
|
147,087,815 |
|
| Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
| Obligation
to Return Securities Lending Collateral |
|
|
39,780,680 |
|
|
|
154,486,129 |
|
|
|
1,018,086 |
|
| Payable
for Investment Securities Purchased |
|
|
462,525,583 |
|
|
|
817,899,010 |
|
|
|
12,016,523 |
|
| Payable
for Capital Shares Redeemed |
|
|
259,314,878 |
|
|
|
484,650,693 |
|
|
|
4,079,885 |
|
| Payable
due to Investment Adviser |
|
|
2,910,834 |
|
|
|
3,901,703 |
|
|
|
75,656 |
|
| Unrealized
Depreciation on Spot Contracts |
|
|
— |
|
|
|
68,931 |
|
|
|
— |
|
| Cash
Overdraft |
|
|
21,273,199 |
|
|
|
381,724 |
|
|
|
— |
|
| Due
to Custodian |
|
|
1,899 |
|
|
|
6,530 |
|
|
|
1 |
|
| Due
to Broker |
|
|
— |
|
|
|
125,034 |
|
|
|
— |
|
| Total
Liabilities |
|
|
785,807,073 |
|
|
|
1,461,519,754 |
|
|
|
17,190,151 |
|
| Net
Assets |
|
$ |
5,040,176,914 |
|
|
$ |
6,938,326,322 |
|
|
$ |
129,897,664 |
|
| Net
Assets Consist of: |
|
|
|
|
|
|
|
|
|
|
|
|
| Paid-in
Capital |
|
$ |
3,339,777,774 |
|
|
$ |
5,655,181,238 |
|
|
$ |
139,850,232 |
|
| Total
Distributable Earnings (Accumulated Losses) |
|
|
1,700,399,140 |
|
|
|
1,283,145,084 |
|
|
|
(9,952,568 |
) |
| Net
Assets |
|
$ |
5,040,176,914 |
|
|
$ |
6,938,326,322 |
|
|
$ |
129,897,664 |
|
Outstanding
Shares of Beneficial Interest
(unlimited authorization — no par
value) |
|
|
56,897,318 |
|
|
|
87,599,374 |
|
|
|
1,592,054 |
|
| Net
Asset Value, Offering and Redemption Price Per Share |
|
|
$88.58 |
|
|
|
$79.21 |
|
|
|
$81.59 |
|
| *Includes
Market Value of Securities on Loan |
|
$ |
94,665,924 |
|
|
$ |
183,641,079 |
|
|
$ |
926,712 |
|
Amounts designated as “—” are either $0 or have been
rounded to $0.
The accompanying notes are an integral part of the
financial statements.
28
Statements of Assets and Liabilities
April 30, 2026 (Unaudited)
| |
|
Global X
Uranium ETF |
|
|
Global X Gold
Miners ETF |
|
| Assets: |
|
|
|
|
|
|
|
|
| Cost
of Investments |
|
$ |
3,813,591,688 |
|
|
$ |
8,182,784 |
|
| Cost
of Affiliated Investments |
|
|
1,149,592,703 |
|
|
|
— |
|
| Cost
of Repurchase Agreement |
|
|
384,988,963 |
|
|
|
— |
|
| Cost
(Proceeds) of Foreign Currency |
|
|
727,470 |
|
|
|
— |
|
| Investments,
at Value |
|
$ |
6,325,367,206 |
* |
|
$ |
7,627,934 |
|
| Affiliated
Investments, at Value |
|
|
1,453,976,781 |
|
|
|
— |
|
| Repurchase
Agreement, at Value |
|
|
384,988,963 |
|
|
|
— |
|
| Cash |
|
|
2,909,932 |
|
|
|
1,501 |
|
| Foreign
Currency, at Value |
|
|
726,579 |
|
|
|
— |
|
| Receivable
for Investment Securities Sold |
|
|
35,334,491 |
|
|
|
— |
|
| Dividend,
Interest, and Securities Lending Income Receivable |
|
|
1,914,445 |
|
|
|
4,860 |
|
| Reclaim
Receivable |
|
|
100,804 |
|
|
|
1,511 |
|
| Total
Assets |
|
|
8,205,319,201 |
|
|
|
7,635,806 |
|
| Liabilities: |
|
|
|
|
|
|
|
|
| Obligation
to Return Securities Lending Collateral |
|
|
384,988,963 |
|
|
|
— |
|
| Payable
for Capital Shares Redeemed |
|
|
35,344,981 |
|
|
|
— |
|
| Payable
due to Investment Adviser |
|
|
4,126,067 |
|
|
|
2,376 |
|
| Unrealized
Depreciation on Spot Contracts |
|
|
2,847 |
|
|
|
— |
|
| Due
to Custodian |
|
|
915 |
|
|
|
8 |
|
| Total
Liabilities |
|
|
424,463,773 |
|
|
|
2,384 |
|
| Net
Assets |
|
$ |
7,780,855,428 |
|
|
$ |
7,633,422 |
|
| Net
Assets Consist of: |
|
|
|
|
|
|
|
|
| Paid-in
Capital |
|
$ |
5,569,496,200 |
|
|
$ |
7,929,295 |
|
| Total
Distributable Earnings (Accumulated Losses) |
|
|
2,211,359,228 |
|
|
|
(295,873 |
) |
| Net
Assets |
|
$ |
7,780,855,428 |
|
|
$ |
7,633,422 |
|
Outstanding
Shares of Beneficial Interest
(unlimited authorization — no par
value) |
|
|
140,081,666 |
|
|
|
200,000 |
|
| Net
Asset Value, Offering and Redemption Price Per Share |
|
|
$55.55 |
|
|
|
$38.17 |
|
| *Includes
Market Value of Securities on Loan |
|
$ |
603,627,755 |
|
|
$ |
— |
|
Amounts designated as “—” are either $0 or have been
rounded to $0.
The accompanying notes are an integral part of the
financial statements.
29
Statements of
Operations
For the period ended April 30, 2026
(Unaudited)
| |
|
Global X Silver |
|
|
Global X Copper |
|
|
Global X Gold |
|
| |
|
Miners ETF |
|
|
Miners ETF |
|
|
Explorers ETF |
|
| Investment
Income: |
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend
Income |
|
$ |
25,855,115 |
|
|
$ |
47,139,411 |
|
|
$ |
459,410 |
|
| Interest
Income |
|
|
85,319 |
|
|
|
232,109 |
|
|
|
2,905 |
|
| Security
Lending Income, Net |
|
|
353,886 |
|
|
|
819,124 |
|
|
|
6,076 |
|
| Reclaim
Income |
|
|
820,823 |
|
|
|
2,405,715 |
|
|
|
22,996 |
|
| Less:
Foreign Taxes Withheld |
|
|
(3,206,688 |
) |
|
|
(5,544,830 |
) |
|
|
(64,396 |
) |
| Total
Investment Income |
|
|
23,908,455 |
|
|
|
45,051,529 |
|
|
|
426,991 |
|
| Expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
| Supervision
and Administration Fees(1) |
|
|
17,117,751 |
|
|
|
18,884,329 |
|
|
|
456,626 |
|
| Custodian
Fees(2) |
|
|
20,105 |
|
|
|
47,507 |
|
|
|
682 |
|
| Total
Expenses |
|
|
17,137,856 |
|
|
|
18,931,836 |
|
|
|
457,308 |
|
| Net
Investment Income (Loss) |
|
|
6,770,599 |
|
|
|
26,119,693 |
|
|
|
(30,317 |
) |
| Net
Realized Gain (Loss) on: |
|
|
|
|
|
|
|
|
|
|
|
|
| Investments(3) |
|
|
842,766,973 |
|
|
|
684,903,483 |
|
|
|
15,923,856 |
|
| Foreign
Currency Transactions |
|
|
(439,500 |
) |
|
|
(719,611 |
) |
|
|
(6,989 |
) |
| Net
Realized Gain (Loss) |
|
|
842,327,473 |
|
|
|
684,183,872 |
|
|
|
15,916,867 |
|
| Net
Change in Unrealized Appreciation (Depreciation) on: |
|
|
|
|
|
|
|
|
|
|
|
|
| Investments |
|
|
374,892,755 |
|
|
|
263,363,475 |
|
|
|
9,511,784 |
|
| Foreign
Currency Translations |
|
|
(11,877 |
) |
|
|
217,968 |
|
|
|
771 |
|
| Net
Change in Unrealized Appreciation (Depreciation) |
|
|
374,880,878 |
|
|
|
263,581,443 |
|
|
|
9,512,555 |
|
| Net
Realized and Unrealized Gain (Loss) |
|
|
1,217,208,351 |
|
|
|
947,765,315 |
|
|
|
25,429,422 |
|
| Net
Increase in Net Assets Resulting from Operations |
|
$ |
1,223,978,950 |
|
|
$ |
973,885,008 |
|
|
$ |
25,399,105 |
|
| |
|
| (1) |
The Supervision and Administration
fees include fees paid by the Funds for the investment advisory services
provided by the Adviser. (See Note 3 in the Notes to Financial
Statements.) |
| (2) |
See Note 2 in the Notes to Financial
Statements. |
| (3) |
Includes realized gains (losses) as a
result of in-kind redemptions. (See Note 4 in the Notes to Financial
Statements.) |
The accompanying notes are an integral part of the
financial statements.
30
Statements of Operations
For the period ended April 30, 2026
(Unaudited)
| |
|
Global X
Uranium ETF |
|
|
Global X Gold
Miners ETF
(1) |
|
| Investment
Income: |
|
|
|
|
|
|
|
|
| Dividend
Income |
|
$ |
16,115,204 |
|
|
$ |
39,108 |
|
| Interest
Income |
|
|
204,814 |
|
|
|
94 |
|
| Security
Lending Income, Net |
|
|
5,353,542 |
|
|
|
— |
|
| Reclaim
Income |
|
|
567,536 |
|
|
|
1,511 |
|
| Less:
Foreign Taxes Withheld |
|
|
(2,756,820 |
) |
|
|
(4,770 |
) |
| Total
Investment Income |
|
|
19,484,276 |
|
|
|
35,943 |
|
| Expenses: |
|
|
|
|
|
|
|
|
| Supervision
and Administration Fees(2) |
|
|
22,046,550 |
|
|
|
7,941 |
|
| Custodian
Fees(3) |
|
|
37,877 |
|
|
|
15 |
|
| Total
Expenses |
|
|
22,084,427 |
|
|
|
7,956 |
|
| Net
Investment Income (Loss) |
|
|
(2,600,151 |
) |
|
|
27,987 |
|
| Net
Realized Gain (Loss) on: |
|
|
|
|
|
|
|
|
| Investments(4) |
|
|
325,617,760 |
|
|
|
231,044 |
|
| Affiliated
Investments |
|
|
44,551,341 |
|
|
|
— |
|
| Foreign
Currency Transactions |
|
|
(727,428 |
) |
|
|
(56 |
) |
| Net
Realized Gain (Loss) |
|
|
369,441,673 |
|
|
|
230,988 |
|
| Net
Change in Unrealized Appreciation (Depreciation) on: |
|
|
|
|
|
|
|
|
| Investments |
|
|
269,601,598 |
|
|
|
(554,850 |
) |
| Affiliated
Investments |
|
|
(197,120,360 |
) |
|
|
— |
|
| Foreign
Currency Translations |
|
|
71,733 |
|
|
|
2 |
|
| Net
Change in Unrealized Appreciation (Depreciation) |
|
|
72,552,971 |
|
|
|
(554,848 |
) |
| Net
Realized and Unrealized Gain (Loss) |
|
|
441,994,644 |
|
|
|
(323,860 |
) |
| Net
Increase (Decrease) in Net Assets Resulting from Operations |
|
$ |
439,394,493 |
|
|
$ |
(295,873 |
) |
| |
|
| (1) |
The Fund commenced operations on
December 9, 2025. |
| (2) |
The Supervision and Administration
fees includes fees paid by the Funds for the investment advisory services
provided by the Adviser. (See Note 3 in the Notes to Financial
Statements.) |
| (3) |
See Note 2 in the Notes to Financial
Statements. |
| (4) |
Includes realized gains (losses) as a
result of in-kind redemptions. (See Note 4 in the Notes to Financial
Statements.) |
Amounts designated as “—” are either $0 or have been
rounded to $0.
The accompanying notes are an integral part of the
financial statements.
31
Statements of
Changes in Net Assets
| |
|
Global X Silver Miners ETF |
|
|
Global X Copper Miners ETF |
|
| |
|
Period Ended
April 30,
2026
(Unaudited) |
|
Year
Ended
October 31,
2025 |
|
Period
Ended
April 30,
2026
(Unaudited) |
|
Year Ended
October 31, 2025 |
| Operations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net
Investment Income |
|
$ |
6,770,599 |
|
|
$ |
2,283,314 |
|
|
$ |
26,119,693 |
|
|
$ |
17,853,788 |
|
| Net
Realized Gain (Loss) |
|
|
842,327,473 |
|
|
|
257,078,477 |
|
|
|
684,183,872 |
|
|
|
50,152,943 |
|
| Net
Change in Unrealized Appreciation (Depreciation) |
|
|
374,880,878 |
|
|
|
951,663,860 |
|
|
|
263,581,443 |
|
|
|
637,086,862 |
|
| Net
Increase in Net Assets Resulting from Operations |
|
|
1,223,978,950 |
|
|
|
1,211,025,651 |
|
|
|
973,885,008 |
|
|
|
705,093,593 |
|
| Distributions: |
|
|
(53,504,407 |
) |
|
|
(28,747,417 |
) |
|
|
(105,582,426 |
) |
|
|
(46,259,121 |
) |
| Capital
Share Transactions: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Issued |
|
|
1,582,568,280 |
|
|
|
1,396,888,796 |
|
|
|
4,188,629,393 |
|
|
|
1,691,131,046 |
|
| Redeemed |
|
|
(1,207,399,965 |
) |
|
|
(446,840,825 |
) |
|
|
(1,487,153,687 |
) |
|
|
(1,535,154,486 |
) |
| Increase in
Net Assets from Capital Share Transactions |
|
|
375,168,315 |
|
|
|
950,047,971 |
|
|
|
2,701,475,706 |
|
|
|
155,976,560 |
|
| Total Increase in
Net Assets |
|
|
1,545,642,858 |
|
|
|
2,132,326,205 |
|
|
|
3,569,778,288 |
|
|
|
814,811,032 |
|
| Net
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Beginning
of Year/Period |
|
|
3,494,534,056 |
|
|
|
1,362,207,851 |
|
|
|
3,368,548,034 |
|
|
|
2,553,737,002 |
|
| End
of Year/Period |
|
$ |
5,040,176,914 |
|
|
$ |
3,494,534,056 |
|
|
$ |
6,938,326,322 |
|
|
$ |
3,368,548,034 |
|
| Share
Transactions: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Issued |
|
|
17,360,000 |
|
|
|
26,170,000 |
|
|
|
51,450,000 |
|
|
|
33,680,000 |
|
| Redeemed |
|
|
(13,120,000 |
) |
|
|
(8,730,000 |
) |
|
|
(18,540,000 |
) |
|
|
(37,310,000 |
) |
| Net
Increase (Decrease) in Shares Outstanding from Share Transactions |
|
|
4,240,000 |
|
|
|
17,440,000 |
|
|
|
32,910,000 |
|
|
|
(3,630,000 |
) |
The accompanying notes are an integral part of the
financial statements.
32
Statements of Changes in Net Assets
| |
|
Global X Gold Explorers ETF |
|
|
Global X Uranium ETF |
|
| |
|
Period Ended
April 30,
2026
(Unaudited) |
|
Year Ended
October 31, 2025 |
|
Period Ended
April 30,
2026
(Unaudited) |
|
Year Ended
October 31, 2025 |
| Operations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net
Investment Income (Loss) |
|
$ |
(30,317 |
) |
|
$ |
3,207 |
|
|
$ |
(2,600,151 |
) |
|
$ |
1,264,188 |
|
| Net
Realized Gain (Loss) |
|
|
15,916,867 |
|
|
|
16,010,371 |
|
|
|
369,441,673 |
|
|
|
430,075,424 |
|
| Net
Change in Unrealized Appreciation (Depreciation) |
|
|
9,512,555 |
|
|
|
30,253,068 |
|
|
|
72,552,971 |
|
|
|
2,078,952,592 |
|
| Net
Increase in Net Assets Resulting from Operations |
|
|
25,399,105 |
|
|
|
46,266,646 |
|
|
|
439,394,493 |
|
|
|
2,510,292,204 |
|
| Distributions: |
|
|
(2,699,673 |
) |
|
|
(907,543 |
) |
|
|
(246,558,986 |
) |
|
|
(88,939,099 |
) |
| Capital
Share Transactions: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Issued |
|
|
19,825,266 |
|
|
|
41,300,814 |
|
|
|
2,223,697,967 |
|
|
|
1,044,369,916 |
|
| Redeemed |
|
|
(22,243,558 |
) |
|
|
(22,731,321 |
) |
|
|
(604,939,823 |
) |
|
|
(1,107,803,771 |
) |
| Increase
(Decrease) in Net Assets from Capital Share Transactions |
|
|
(2,418,292 |
) |
|
|
18,569,493 |
|
|
|
1,618,758,144 |
|
|
|
(63,433,855 |
) |
| Total Increase in
Net Assets |
|
|
20,281,140 |
|
|
|
63,928,596 |
|
|
|
1,811,593,651 |
|
|
|
2,357,919,250 |
|
| Net
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Beginning
of Year/Period |
|
|
109,616,524 |
|
|
|
45,687,928 |
|
|
|
5,969,261,777 |
|
|
|
3,611,342,527 |
|
| End
of Year/Period |
|
$ |
129,897,664 |
|
|
$ |
109,616,524 |
|
|
$ |
7,780,855,428 |
|
|
$ |
5,969,261,777 |
|
| Share
Transactions: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Issued |
|
|
220,000 |
|
|
|
730,000 |
|
|
|
43,760,000 |
|
|
|
26,290,000 |
|
| Redeemed |
|
|
(280,000 |
) |
|
|
(390,000 |
) |
|
|
(11,720,000 |
) |
|
|
(35,800,000 |
) |
| Net
Increase (Decrease) in Shares Outstanding from Share Transactions |
|
|
(60,000 |
) |
|
|
340,000 |
|
|
|
32,040,000 |
|
|
|
(9,510,000 |
) |
The accompanying notes are an integral part of the
financial statements.
33
Statement of
Changes in Net Assets
| |
|
Global X Gold
Miners ETF |
| |
|
Period Ended
April 30,
2026(1)
(Unaudited) |
| Operations: |
|
|
|
|
| Net
Investment Income |
|
$ |
27,987 |
|
| Net
Realized Gain (Loss) |
|
|
230,988 |
|
| Net
Change in Unrealized Appreciation (Depreciation) |
|
|
(554,848 |
) |
| Net
Decrease in Net Assets Resulting from Operations |
|
|
(295,873 |
) |
| Capital
Share Transactions: |
|
|
|
|
| Issued |
|
|
11,980,492 |
|
| Redeemed |
|
|
(4,051,197 |
) |
| Increase in
Net Assets from Capital Share Transactions |
|
|
7,929,295 |
|
| Total Increase in
Net Assets |
|
|
7,633,422 |
|
| Net
Assets: |
|
|
|
|
| Beginning
of Period |
|
|
— |
|
| End
of Period |
|
$ |
7,633,422 |
|
| Share
Transactions: |
|
|
|
|
| Issued |
|
|
300,000 |
|
| Redeemed |
|
|
(100,000 |
) |
| |
|
|
|
|
| Net
Increase in Shares Outstanding from Share Transactions |
|
|
200,000 |
|
| |
|
| (1) |
The Fund commenced operations on
December 9, 2025. |
Amounts designated as “—” are either $0 or have been
rounded to $0.
The accompanying notes are an integral part of the
financial statements.
34
Financial
Highlights
Selected Per Share Data & Ratios
For a
Share Outstanding Throughout the Year/Period |
| |
|
Net
Asset Value,
Beginning
of
Period
($) |
|
Net Investment
Income
($)* |
|
Net Realized
and Unrealized
Gain
(Loss)
($) |
|
Total from
Operations
($) |
|
Distribution
from
Net
Investment
Income ($) |
|
Distribution
from Capital
Gains ($) |
|
Return of
Capital ($) |
| Global
X Silver Miners ETF |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2026
(Unaudited)§ |
|
|
66.36 |
|
|
|
0.12 |
|
|
|
23.01 |
|
|
|
23.13 |
|
|
|
(0.91 |
) |
|
|
— |
|
|
|
— |
|
| 2025 |
|
|
38.68 |
|
|
|
0.06 |
|
|
|
28.46 |
|
|
|
28.52 |
|
|
|
(0.84 |
) |
|
|
— |
|
|
|
— |
|
| 2024 |
|
|
24.07 |
|
|
|
0.07 |
|
|
|
14.68 |
|
|
|
14.75 |
|
|
|
(0.14 |
) |
|
|
— |
|
|
|
— |
|
| 2023 |
|
|
24.93 |
|
|
|
0.14 |
|
|
|
(0.91 |
) |
|
|
(0.77 |
) |
|
|
(0.09 |
) |
|
|
— |
|
|
|
— |
|
| 2022 |
|
|
38.78 |
|
|
|
0.20 |
|
|
|
(13.57 |
) |
|
|
(13.37 |
) |
|
|
(0.37 |
) |
|
|
— |
|
|
|
(0.11 |
) |
| 2021 |
|
|
42.28 |
|
|
|
0.41 |
|
|
|
(3.00 |
) |
|
|
(2.59 |
) |
|
|
(0.91 |
) |
|
|
— |
|
|
|
— |
|
| Global
X Copper Miners ETF |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2026
(Unaudited)§ |
|
|
61.59 |
|
|
|
0.35 |
|
|
|
18.94 |
|
|
|
19.29 |
|
|
|
(1.67 |
) |
|
|
— |
|
|
|
— |
|
| 2025 |
|
|
43.79 |
|
|
|
0.32 |
|
|
|
18.26 |
|
|
|
18.58 |
|
|
|
(0.78 |
) |
|
|
— |
|
|
|
— |
|
| 2024 |
|
|
32.83 |
|
|
|
0.43 |
|
|
|
11.08 |
|
|
|
11.51 |
|
|
|
(0.55 |
) |
|
|
— |
|
|
|
— |
|
| 2023 |
|
|
28.74 |
|
|
|
0.75 |
|
|
|
4.24 |
|
|
|
4.99 |
|
|
|
(0.90 |
) |
|
|
— |
|
|
|
— |
|
| 2022 |
|
|
37.31 |
|
|
|
1.19 |
|
|
|
(8.66 |
) |
|
|
(7.47 |
) |
|
|
(1.10 |
) |
|
|
— |
|
|
|
— |
|
| 2021 |
|
|
21.42 |
|
|
|
0.63 |
|
|
|
15.74 |
|
|
|
16.37 |
|
|
|
(0.48 |
) |
|
|
— |
|
|
|
— |
|
| |
|
| * |
Per share data
calculated using average shares method. |
| ** |
Total Return is for the period
indicated and has not been annualized. The return shown does not reflect
the deduction of taxes that a shareholder would pay on Fund distributions
or the redemption of Fund shares. |
| † |
Annualized. |
| †† |
Portfolio turnover rate is for the
period indicated and periods of less than one year have not been
annualized. Excludes effect of in-kind transfers. |
| § |
For the period ended April 30,
2026. |
| |
Amounts designated as “—” are either
$0 or have been rounded to $0. |
The accompanying notes are an integral part of the
financial statements.
35
Financial Highlights
Total from
Distributions ($) |
|
Net
Asset Value,
End of
Period ($) |
|
Total
Return
(%)** |
|
Net Assets, End of
Period ($)(000) |
|
Ratio of Expenses
to Average Net
Assets (%) |
|
Ratio of Net
Investment Income
to Average
Net
Assets (%) |
|
Portfolio
Turnover Rate
(%)†† |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
(0.91 |
) |
|
|
88.58 |
|
|
|
34.91 |
|
|
|
5,040,177 |
|
|
|
0.65 |
† |
|
|
0.26 |
† |
|
|
5.54 |
|
| |
(0.84 |
) |
|
|
66.36 |
|
|
|
75.97 |
|
|
|
3,494,534 |
|
|
|
0.65 |
|
|
|
0.12 |
|
|
|
27.57 |
|
| |
(0.14 |
) |
|
|
38.68 |
|
|
|
61.49 |
|
|
|
1,362,208 |
|
|
|
0.65 |
|
|
|
0.23 |
|
|
|
14.67 |
|
| |
(0.09 |
) |
|
|
24.07 |
|
|
|
(3.12 |
) |
|
|
823,747 |
|
|
|
0.65 |
|
|
|
0.52 |
|
|
|
19.72 |
|
| |
(0.48 |
) |
|
|
24.93 |
|
|
|
(34.83 |
) |
|
|
841,908 |
|
|
|
0.65 |
|
|
|
0.64 |
|
|
|
17.72 |
|
| |
(0.91 |
) |
|
|
38.78 |
|
|
|
(6.43 |
) |
|
|
1,100,191 |
|
|
|
0.65 |
|
|
|
0.96 |
|
|
|
15.61 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
(1.67 |
) |
|
|
79.21 |
|
|
|
31.59 |
|
|
|
6,938,326 |
|
|
|
0.65 |
† |
|
|
0.90 |
† |
|
|
7.07 |
|
| |
(0.78 |
) |
|
|
61.59 |
|
|
|
43.39 |
|
|
|
3,368,548 |
|
|
|
0.65 |
|
|
|
0.74 |
|
|
|
21.67 |
|
| |
(0.55 |
) |
|
|
43.79 |
|
|
|
35.22 |
|
|
|
2,553,737 |
|
|
|
0.65 |
|
|
|
1.02 |
|
|
|
14.60 |
|
| |
(0.90 |
) |
|
|
32.83 |
|
|
|
17.07 |
|
|
|
1,317,932 |
|
|
|
0.65 |
|
|
|
2.00 |
|
|
|
23.73 |
|
| |
(1.10 |
) |
|
|
28.74 |
|
|
|
(20.38 |
) |
|
|
1,315,488 |
|
|
|
0.65 |
|
|
|
3.31 |
|
|
|
30.46 |
|
| |
(0.48 |
) |
|
|
37.31 |
|
|
|
76.80 |
|
|
|
994,009 |
|
|
|
0.65 |
|
|
|
1.71 |
|
|
|
20.13 |
|
The accompanying notes are an integral part of the
financial statements.
36
Financial Highlights
Selected Per Share Data & Ratios
For a
Share Outstanding Throughout the Year/Period |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Asset Value, |
|
|
|
|
Net Realized |
|
|
|
|
Distribution |
|
|
|
|
|
|
| |
|
Beginning |
|
Net Investment |
|
and Unrealized |
|
Total from |
|
from Net |
|
Distribution |
|
|
|
| |
|
of Period |
|
Income (Loss) |
|
Gain (Loss) |
|
Operations |
|
Investment |
|
from Capital |
|
Return of |
| |
|
($) |
|
($)* |
|
($) |
|
($) |
|
Income ($) |
|
Gains ($) |
|
Capital ($) |
| Global
X Gold Explorers ETF |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2026
(Unaudited)§ |
|
|
66.35 |
|
|
|
(0.02 |
) |
|
|
16.93 |
|
|
|
16.91 |
|
|
|
(1.67 |
) |
|
|
— |
|
|
|
— |
|
| 2025 |
|
|
34.82 |
|
|
|
— |
|
|
|
32.25 |
|
|
|
32.25 |
|
|
|
(0.72 |
) |
|
|
— |
|
|
|
— |
|
| 2024 |
|
|
22.45 |
|
|
|
0.02 |
|
|
|
12.36 |
|
|
|
12.38 |
|
|
|
(0.01 |
) |
|
|
— |
|
|
|
— |
|
| 2023 |
|
|
20.36 |
|
|
|
0.06 |
|
|
|
2.25 |
|
|
|
2.31 |
|
|
|
(0.21 |
) |
|
|
— |
|
|
|
(0.01 |
) |
| 2022 |
|
|
30.10 |
|
|
|
0.17 |
|
|
|
(9.32 |
) |
|
|
(9.15 |
) |
|
|
(0.59 |
) |
|
|
— |
|
|
|
— |
|
| 2021 |
|
|
33.48 |
|
|
|
0.20 |
|
|
|
(2.54 |
) |
|
|
(2.34 |
) |
|
|
(1.04 |
) |
|
|
— |
|
|
|
— |
|
| Global
X Uranium ETF |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2026
(Unaudited)§ |
|
|
55.25 |
|
|
|
(0.02 |
) |
|
|
2.40 |
|
|
|
2.38 |
|
|
|
(2.08 |
) |
|
|
— |
|
|
|
— |
|
| 2025 |
|
|
30.72 |
|
|
|
0.01 |
|
|
|
25.26 |
|
|
|
25.27 |
|
|
|
(0.74 |
) |
|
|
— |
|
|
|
— |
|
| 2024 |
|
|
26.50 |
|
|
|
0.03 |
|
|
|
5.90 |
|
|
|
5.93 |
|
|
|
(1.71 |
) |
|
|
— |
|
|
|
— |
|
| 2023 |
|
|
20.30 |
|
|
|
0.09 |
|
|
|
6.16 |
|
|
|
6.25 |
|
|
|
(0.05 |
) |
|
|
— |
|
|
|
— |
|
| 2022 |
|
|
27.04 |
|
|
|
0.28 |
|
|
|
(5.61 |
) |
|
|
(5.33 |
) |
|
|
(1.41 |
) |
|
|
— |
|
|
|
— |
|
| 2021 |
|
|
10.87 |
|
|
|
0.39 |
|
|
|
15.91 |
|
|
|
16.30 |
|
|
|
(0.13 |
) |
|
|
— |
|
|
|
— |
|
| |
|
| * |
Per share data
calculated using average shares method. |
| ** |
Total Return is for the period
indicated and has not been annualized. The return shown does not reflect
the deduction of taxes that a shareholder would pay on Fund distributions
or the redemption of Fund shares. |
| † |
Annualized. |
| †† |
Portfolio turnover rate is for the
period indicated and periods of less than one year have not been
annualized. Excludes effect of in-kind transfers. |
| § |
For the period ended April 30,
2026. |
| (1) |
Excludes fees and expenses incurred
indirectly as a result of investments in underlying funds. |
| (2) |
Net investment income ratios do not
reflect the proportionate share of income and expenses of the underlying
funds in which the fund invests. |
| |
Amounts designated as “—” are either
$0 or have been rounded to $0. |
The accompanying notes are an integral part of the
financial statements.
37
Financial Highlights
Total from
Distributions ($) |
|
Net
Asset Value,
End of
Period ($) |
|
Total
Return
(%)** |
|
Net Assets, End of
Period ($)(000) |
|
Ratio of Expenses
to Average Net
Assets (%) |
|
Ratio of Net
Investment Income
(Loss) to
Average
Net Assets (%) |
|
Portfolio
Turnover Rate
(%)†† |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
(1.67 |
) |
|
|
81.59 |
|
|
|
25.48 |
|
|
|
129,898 |
|
|
|
0.65 |
† |
|
|
(0.04 |
)† |
|
|
6.66 |
|
| |
(0.72 |
) |
|
|
66.35 |
|
|
|
95.24 |
|
|
|
109,617 |
|
|
|
0.65 |
|
|
|
0.01 |
|
|
|
27.01 |
|
| |
(0.01 |
) |
|
|
34.82 |
|
|
|
55.13 |
|
|
|
45,688 |
|
|
|
0.65 |
|
|
|
0.07 |
|
|
|
17.24 |
|
| |
(0.22 |
) |
|
|
22.45 |
|
|
|
11.24 |
|
|
|
31,931 |
|
|
|
0.65 |
|
|
|
0.24 |
|
|
|
19.87 |
|
| |
(0.59 |
) |
|
|
20.36 |
|
|
|
(30.94 |
) |
|
|
28,745 |
|
|
|
0.65 |
|
|
|
0.63 |
|
|
|
30.04 |
|
| |
(1.04 |
) |
|
|
30.10 |
|
|
|
(7.36 |
) |
|
|
49,722 |
|
|
|
0.65 |
|
|
|
0.61 |
|
|
|
18.30 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
(2.08 |
) |
|
|
55.55 |
|
|
|
5.44 |
|
|
|
7,780,855 |
|
|
|
0.69 |
†(1) |
|
|
(0.08 |
)†(2) |
|
|
4.22 |
|
| |
(0.74 |
) |
|
|
55.25 |
|
|
|
84.83 |
|
|
|
5,969,262 |
|
|
|
0.69 |
(1) |
|
|
0.03 |
(2) |
|
|
14.51 |
|
| |
(1.71 |
) |
|
|
30.72 |
|
|
|
23.13 |
|
|
|
3,611,343 |
|
|
|
0.69 |
(1) |
|
|
0.11 |
(2) |
|
|
19.18 |
|
| |
(0.05 |
) |
|
|
26.50 |
|
|
|
30.86 |
|
|
|
2,175,006 |
|
|
|
0.69 |
(1) |
|
|
0.43 |
(2) |
|
|
20.03 |
|
| |
(1.41 |
) |
|
|
20.30 |
|
|
|
(20.11 |
) |
|
|
1,588,529 |
|
|
|
0.69 |
(1) |
|
|
1.25 |
(2) |
|
|
26.47 |
|
| |
(0.13 |
) |
|
|
27.04 |
|
|
|
150.73 |
|
|
|
1,315,609 |
|
|
|
0.69 |
|
|
|
1.91 |
|
|
|
30.01 |
|
The accompanying notes are an integral part of the
financial statements.
38
Financial Highlights
Selected Per Share Data & Ratios
For a
Share Outstanding Throughout the Year/Period |
| |
|
Net
Asset Value,
Beginning
of
Period
($) |
|
Net Investment
Income
($)* |
|
Net Realized
and
Unrealized
Gain
($) |
|
Total from
Operations
($) |
|
Distribution
from
Net
Investment
Income ($) |
|
Distribution
from Capital
Gains ($) |
|
Return of
Capital ($) |
| Global X Gold Miners
ETF |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2026
(Unaudited)§(1) |
|
|
34.42 |
|
|
|
0.20 |
|
|
|
3.55^ |
|
|
|
3.75 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| |
|
| * |
Per share data
calculated using average shares method. |
| ** |
Total Return is for the period
indicated and has not been annualized. The return shown does not reflect
the deduction of taxes that a shareholder would pay on Fund distributions
or the redemption of Fund shares. |
| † |
Annualized. |
| †† |
Portfolio turnover rate is for the
period indicated and periods of less than one year have not been
annualized. Excludes effect of in-kind transfers. |
| § |
For the period ended April 30,
2026. |
| ^ |
The amount shown for a share
outstanding throughout the period does not accord with the aggregate net
gains on investments for the period because of the sales and repurchases
of fund shares in relation to fluctuating market value of the investments
of the Fund. |
| (1) |
The Fund commenced operations on
December 9, 2025. |
| |
Amounts designated as “—” are either
$0 or have been rounded to $0. |
The accompanying notes are an integral part of the
financial statements.
39
Financial Highlights
Total from
Distributions ($) |
|
Net
Asset Value,
End of
Period ($) |
|
Total
Return
(%)** |
|
Net Assets, End of
Period ($)(000) |
|
Ratio of Expenses
to Average Net
Assets (%) |
|
Ratio of Net
Investment Income
to Average
Net
Assets (%) |
|
Portfolio
Turnover Rate
(%)†† |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
— |
|
|
|
38.17 |
|
|
|
10.89 |
|
|
|
7,633 |
|
|
|
0.35 |
† |
|
|
1.24 |
† |
|
|
5.04 |
|
The accompanying notes are an integral part of the
financial statements.
40
Notes to Financial
Statements
April 30, 2026 (Unaudited)
1.
ORGANIZATION
The
Global X Funds (the “Trust”) is a Delaware statutory trust formed on March 6,
2008. The Trust is registered under the Investment Company Act of 1940 (the
“1940 Act”), as amended, as an open-end management investment company. As of
April 30, 2026, the Trust had one hundred twenty four portfolios, one hundred
fifteen of which were operational. The financial statements herein and the
related notes pertain to the Global X Silver Miners ETF, Global X Copper Miners
ETF, Global X Gold Explorers ETF, Global X Uranium ETF and Global X Gold Miners
ETF (each, a “Fund”, and collectively, the “Funds”). Each Fund (except the
Global X Gold Explorers ETF) has elected non-diversified status under the 1940
Act.
The
Global X Gold Miners ETF commenced operations on December 9, 2025.
2.
SIGNIFICANT ACCOUNTING POLICIES
The
following is a summary of the significant accounting policies followed by the
Funds:
USE
OF ESTIMATES — The Funds are investment companies that apply the accounting and
reporting guidance issued in Topic 946 by the U.S. Financial Accounting
Standards Board (“FASB”). The preparation of financial statements in conformity
with U.S. generally accepted accounting principles (“U.S. GAAP”) requires
management to make estimates and assumptions that affect the reported amounts of
assets and liabilities and disclosure of contingent assets and liabilities at
the date of the financial statements and the reported amounts of increases and
decreases in net assets from operations during the reporting period. Actual
results could materially differ from those estimates.
RETURN
OF CAPITAL ESTIMATES — Distributions received by the Funds from underlying
master limited partnership (“MLP”) and real estate investment trust (“REIT”)
investments generally are comprised of income and return of capital. The Funds
record investment income and return of capital based on estimates made at the
time such distributions are received. Such estimates are based on historical
information available from the MLPs, REITs and other industry sources. These
estimates may subsequently be revised based on information received from the
MLPs and REITs after their tax reporting periods are concluded.
SECURITY
VALUATION — Securities listed on a securities exchange, market or automated
quotation system for which quotations are readily available (except for
securities traded on the NASDAQ Stock Market (“NASDAQ”)), including securities
traded over the counter, are valued at the last quoted sale price on the primary
exchange or market (foreign or domestic) on which they are traded (or at
approximately 4:00 pm Eastern Standard Time if a security’s primary exchange is
normally open at that time), or, if there is no such reported sale, at the most
recent mean between the quoted bid and asked prices, which approximates fair
value (absent both bid and asked prices on such exchange, the bid price may be
used). For securities traded on NASDAQ, the NASDAQ Official Closing Price
41
Notes to
Financial Statements (Continued)
April 30, 2026 (Unaudited)
2.
SIGNIFICANT ACCOUNTING POLICIES (continued)
will
be used. The prices for foreign securities are reported in local currency and
converted to U.S. dollars using currency exchange rates as of the reporting
date. The exchange rates used by the Trust for valuation are captured as of the
New York or London close each day.
Securities
for which market prices are not “readily available” are valued in accordance
with fair value procedures (the “Fair Value Procedures”) established by Global X
Management Company LLC, the Funds’ investment adviser (the “Adviser”), and
approved by the Funds’ Board of Trustees (the “Board”). Pursuant to Rule 2a-5
under the 1940 Act, the Board has designated the Adviser as the “valuation
designee” to determine the fair value of securities and other instruments for
which no readily available market quotations are available. The Fair Value
Procedures are implemented through a fair value committee (the “Committee”) of
the Adviser. Some of the more common reasons that may necessitate that a
security be valued using the Fair Value Procedures include: the security’s
trading has been halted or suspended; the security has been de-listed from its
primary trading exchange; the security’s primary trading market is temporarily
closed at a time when, under normal conditions, it would be open; the security
has not been traded for an extended period of time; the security’s primary
pricing source is not able or willing to provide a price; or trading of the
security is subject to local government-imposed restrictions. In addition, the
Funds may fair value a security if an event that may materially affect the value
of the Funds’ security that traded outside of the United States (a “Significant
Event”) has occurred between the time of the security’s last close and the time
that each Fund calculates its net asset value (“NAV”). A Significant Event may
relate to a single issuer or to an entire market sector. Events that may be
Significant Events include: government actions, natural disasters, armed
conflict, acts of terrorism and significant market fluctuations. If the Adviser
becomes aware of a Significant Event that has occurred with respect to a
security or group of securities after the closing of the exchange or market on
which the security or securities principally trade, but before the time at which
the Funds calculate their NAVs, it may request that a Committee meeting be
called. When a security is valued in accordance with the Fair Value Procedures,
the Committee will determine the value after taking into consideration all
relevant information reasonably available to the Committee.
If
available, debt securities are priced based upon valuations provided by
independent, third-party pricing agents. Such values generally reflect the last
reported sales price if the security is actively traded. The third-party pricing
agents may also value debt securities at an evaluated bid price by employing
methodologies that utilize actual market transactions, broker-supplied
valuations, or other methodologies designed to identify the market value for
such securities. Debt obligations with remaining maturities of sixty days or
less will be valued at their market value. Prices for most securities held by
the Funds are provided daily by recognized independent pricing agents. If a
security price cannot be obtained from
42
Notes to
Financial Statements (Continued)
April 30, 2026 (Unaudited)
2.
SIGNIFICANT ACCOUNTING POLICIES (continued)
an
independent, third-party pricing agent, the Funds seek to obtain a bid price
from at least one independent broker.
In
accordance with the authoritative guidance on fair value measurements and
disclosure under U.S. GAAP, the Funds disclose the fair value of their
investments in a hierarchy that prioritizes the inputs to valuation techniques
used to measure the fair value. The objective of a fair value measurement is to
determine the price that would be received to sell an asset or paid to transfer
a liability in an orderly transaction between market participants at the
measurement date (an exit price). Accordingly, the fair value hierarchy gives
the highest priority to quoted prices (unadjusted) in active markets for
identical assets or liabilities (Level 1) and the lowest priority to
unobservable inputs (Level 3). The three levels of the fair value hierarchy are
described below:
| |
Level 1 –
Unadjusted quoted prices in active markets for identical, unrestricted
assets or liabilities that the Funds have the ability to access at the
measurement date; |
| |
|
| |
Level 2 –
Other significant observable inputs (including quoted prices in non-active
markets, quoted prices for similar investments, fair value of investments
for which the Funds have the ability to fully redeem tranches at NAV as of
the measurement date or within the near term, and short-term investments
valued at amortized cost);and |
| |
|
| |
Level 3 –
Significant unobservable inputs (including the Funds’ own assumptions in
determining the fair value of investments and fair value of investments
for which the Funds do not have the ability to fully redeem tranches at
NAV as of the measurement date or within the near
term). |
Investments
are classified within the level of the lowest significant input considered in
determining fair value. Investments classified within Level 3 whose fair value
measurement considers several inputs may include Level 1 or Level 2 inputs as
components of the overall fair value measurement. For details of the investment
classification, reference the Schedules of Investments.
The
unobservable inputs used to determine fair value of Level 3 assets may have
similar or diverging impacts on valuation. Significant increases and decreases
in these inputs in isolation and interrelationships between those inputs could
result in significantly higher or lower fair value measurement.
DUE
TO/FROM BROKERS — Due to/from brokers includes cash and collateral balances with
the Funds’ clearing brokers or counterparties as of April 30, 2026. The Funds
continuously monitor the credit standing of each broker or counterparty with
whom they
43
Notes to
Financial Statements (Continued)
April 30, 2026 (Unaudited)
2.
SIGNIFICANT ACCOUNTING POLICIES (continued)
conduct
business. In the event a broker or counterparty is unable to fulfill its
obligations, the Funds would be subject to counterparty credit risk.
REPURCHASE
AGREEMENTS — Securities pledged as collateral for repurchase agreements are held
by The Bank of New York Mellon (“BNY”) in its role as Custodian to the Funds
(the “Custodian”), and are designated as being held on each Fund’s behalf by the
Custodian under a book-entry system. Each Fund monitors the adequacy of the
collateral on a daily basis and can require the seller to provide additional
collateral in the event the market value of the securities pledged falls below
the carrying value of the repurchase agreement, including accrued interest.
It
is each Fund’s policy to only enter into repurchase agreements with banks and
other financial institutions which are deemed by the Adviser to be creditworthy.
The Funds bear the risk of loss in the event that the counterparty to a
repurchase agreement defaults on its obligations, and the Funds are prevented
from exercising their rights to dispose of the underlying securities received as
collateral. For financial statement purposes, the Funds record the securities
lending collateral (included in repurchase agreements, at value or restricted
cash) as an asset and the obligation to return securities lending collateral as
a liability on the Statements of Assets and Liabilities.
Repurchase
agreements are entered into by the Funds under Master Repurchase Agreements
(“MRA”) which permit the Funds, under certain circumstances, including an event
of default (such as bankruptcy or insolvency), to offset payables and/or
receivables under an MRA with collateral held and/or posted to the counterparty
and create one single net payment due to or from the Funds.
FEDERAL
INCOME TAXES — It is each Fund’s intention to qualify, or continue to qualify,
as a regulated investment company for Federal income tax purposes by complying
with the appropriate provisions of Subchapter M of the Internal Revenue Code of
1986, as amended. Accordingly, no provisions for Federal income taxes have been
made in the financial statements except as described below.
The
Funds evaluate tax positions taken or expected to be taken in the course of
preparing the Funds’ tax returns to determine whether it is
“more-likely-than-not” (i.e., greater than 50 percent) that each tax position
will be sustained upon examination by a taxing authority based on the technical
merits of the position. Tax positions not deemed to meet the
more-likely-than-not threshold are recorded as a tax benefit or expense in the
current year. The Funds did not record any tax positions in the current period;
however, management’s conclusions regarding tax positions may be subject to
review and adjustment at a later date based on factors including, but not
limited to, examination by tax authorities (i.e., the last three tax year ends,
as applicable), and on-going analysis of and changes to tax laws and
regulations, and interpretations thereof.
44
Notes to
Financial Statements (Continued)
April 30, 2026 (Unaudited)
2.
SIGNIFICANT ACCOUNTING POLICIES (continued)
If
a Fund has foreign tax filings that have not been made, the tax years that
remain subject to examination may date back to the inception of the Fund.
As
of and during the reporting period ended April 30, 2026, the Funds did not have
a liability for any unrecognized tax benefits. The Funds recognize interest and
penalties, if any, related to unrecognized tax benefits as an income tax expense
on the Statements of Operations. During the reporting period, the Funds did not
incur any interest or penalties.
SECURITY
TRANSACTIONS AND INVESTMENT INCOME — Security transactions are accounted for on
the trade date for financial reporting purposes. Costs used in determining
realized gains and losses on the sale of investment securities are based on
specific identification. Dividend income is recorded on the ex-dividend date.
Interest income is recognized on the accrual basis from the settlement date.
Amortization of premiums and accretion of discounts is included in interest
income.
FOREIGN
CURRENCY TRANSACTIONS AND TRANSLATION — The books and records of the Funds are
maintained in U.S. dollars. Investment securities and other assets and
liabilities denominated in a foreign currency are translated into U.S. dollars
on the date of valuation. Purchases and sales of investment securities, income
and expenses are translated into U.S. dollars at the relevant rates of exchange
prevailing on the respective dates of such transactions. The Funds do not
isolate that portion of realized or unrealized gains and losses resulting from
changes in the foreign exchange rate from fluctuations arising from changes in
the market prices of the securities. These gains and losses are included in net
realized and unrealized gains and losses on investments on the Statements of
Operations. Net realized and unrealized gains and losses on foreign currency
transactions and translations represent net foreign exchange gains or losses
from foreign currency spot contracts, disposition of foreign currencies,
currency gains or losses realized between trade and settlement dates on
securities transactions and the difference between the amount of the investment
income and foreign withholding taxes recorded on the Funds’ books and the U.S.
dollar equivalent amounts actually received or paid.
DIVIDENDS
AND DISTRIBUTIONS TO SHAREHOLDERS — The Funds distribute their net investment
income on a pro rata basis. Any net investment income and net realized capital
gains are distributed at least annually. All distributions are recorded on the
ex-dividend date.
CREATION
UNITS — The Funds issue and redeem their shares (“Shares”) on a continuous basis
at NAV and only in large blocks of 10,000 Shares, referred to as “Creation
Units”. Purchasers of Creation Units (each, an “Authorized Participant”) at NAV
must pay a standard creation transaction fee per transaction. The fee is a
single charge and will be the same regardless of the number of Creation Units
purchased by an Authorized Participant on the same day. An Authorized
Participant who holds Creation Units and wishes to redeem at NAV would also pay
a standard redemption fee per transaction to BNY on the date of such
45
Notes to Financial Statements (Continued)
April 30, 2026 (Unaudited)
2.
SIGNIFICANT ACCOUNTING POLICIES (continued)
redemption,
regardless of the number of Creation Units redeemed that day. If a Creation Unit
is purchased or redeemed for cash, an additional variable fee may be charged.
The following table discloses Creation Unit breakdown:
| |
|
Creation
Unit
Shares |
|
Creation
Fee |
|
Redemption
Fee |
|
| Global X Silver Miners ETF |
|
10,000 |
|
$ |
250 |
|
$ |
250 |
|
| Global X Copper Miners ETF |
|
10,000 |
|
|
300 |
|
|
300 |
|
| Global X Gold Explorers ETF |
|
10,000 |
|
|
400 |
|
|
400 |
|
| Global X Uranium ETF |
|
10,000 |
|
|
600 |
|
|
600 |
|
| Global X Gold Miners ETF |
|
10,000 |
|
|
400 |
|
|
400 |
|
CASH
OVERDRAFT CHARGES — Per the terms of an agreement with BNY, if a Fund has a cash
overdraft, it will be charged interest at a rate then charged by BNY to its
institutional custody clients in the relevant currency. Cash overdraft charges
are included in Custodian Fees Payable on the Statements of Assets and
Liabilities and Custodian Fees on the Statements of Operations, if
applicable.
SEGMENT
REPORTING — The Funds have adopted FASB Update 2023-07, Segment Reporting (Topic
280) — Improvements to Reportable Segment Disclosures (“ASU 2023-07”), with the
intent of improving reportable segment disclosure requirements, primarily
through enhanced disclosures about significant segment expenses, allowing
financial statement users to better understand the components of a segment’s
profit or loss and assess potential future cash flows for each reportable
segment and the entity as a whole, thereby enabling better understanding of how
an entity’s segments impact overall performance. The Funds’ adoption of ASU
2023-07 impacted financial statement disclosures only and did not affect the
Funds’ financial position or results of operations.
The
Trust’s Chief Financial Officer acts as each Fund’s Chief Operating Decision
Maker (“CODM”) and is responsible for assessing performance and allocating
resources with respect to the Funds. The CODM has concluded that each Fund
operates as a single operating segment since each Fund has a single investment
strategy as disclosed in its prospectus, against which the CODM assesses
performance. The financial information provided to and reviewed by the CODM is
presented within each Fund’s financial statements.
3.
RELATED PARTIES AND SERVICE PROVIDER TRANSACTIONS
On
July 2, 2018, the Adviser consummated a transaction pursuant to which it became
an indirect, wholly-owned subsidiary of Mirae Asset Global Investments Co., Ltd.
(“Mirae”). In this manner, the Adviser is ultimately controlled by Mirae.
The
Adviser serves as the investment adviser and the administrator for the Funds.
Subject to the supervision of the Board, the Adviser is responsible for managing
the investment
46
Notes to Financial Statements (Continued)
April 30, 2026 (Unaudited)
3.
RELATED PARTIES AND SERVICE PROVIDER TRANSACTIONS (continued)
activities
of the Funds and the Funds’ business affairs and other administrative matters
and provides, or causes to be furnished, all supervisory, administrative and
other services reasonably necessary for the operation of the Funds, including
certain distribution services (provided pursuant to a separate distribution
agreement), certain shareholder and distribution-related services (provided
pursuant to a separate Rule 12b-1 Plan and related agreements) and investment
advisory services (provided pursuant to a separate Investment Advisory
Agreement), under what is essentially an “all-in” fee structure. For the
Adviser’s service to the respective Funds, under a supervision and
administration agreement (the “Supervision and Administration Agreement”), each
Fund pays a monthly fee to the Adviser at the annual rate below (stated as a
percentage of each Fund’s respective average daily net assets) (the “Supervision
and Administrative Fee”). In addition, the Funds bear other expenses, directly
and indirectly, that are not covered by the Supervision and Administration
Agreement, which may vary and affect the total expense ratios of the Funds, such
as taxes, brokerage fees, commissions, certain custodian fees, acquired fund
fees and other transaction expenses, interest expenses and extraordinary
expenses (such as litigation and indemnification expenses).
The
following table discloses supervision and administration fees payable pursuant
to the Supervision and Administration Agreement:
| |
|
Supervision and
Administration Fee |
| Global X Silver Miners
ETF |
|
0.65% |
| Global X Copper Miners
ETF |
|
0.65% |
| Global X Gold Explorers
ETF |
|
0.65% |
| Global X Uranium ETF |
|
0.69% |
| Global X Gold Miners
ETF |
|
0.35% |
SEI
Investments Global Funds Services (“SEIGFS”) serves as sub-administrator to the
Funds. As sub-administrator, SEIGFS provides the Funds with all required general
administrative services, including, without limitation: office space, equipment,
and personnel; clerical and general back office services; bookkeeping, internal
accounting and secretarial services; the calculation of NAV; and assistance with
the preparation and filing of reports, registration statements, proxy
statements, and other materials required to be filed or furnished by the Funds
under federal and state securities laws. As compensation for these services,
SEIGFS receives certain out-of-pocket costs, transaction fees, and asset-based
fees which are accrued daily and paid monthly by the Adviser.
SEI
Investments Distribution Co. (“SIDCO”) serves as the Funds’ underwriter and
distributor of Creation Units pursuant to a distribution agreement (the
“Distribution Agreement”). SIDCO has no obligation to sell any specific quantity
of Shares of the Funds.
47
Notes to Financial Statements (Continued)
April 30, 2026 (Unaudited)
3.
RELATED PARTIES AND SERVICE PROVIDER TRANSACTIONS (continued)
SIDCO
bears the following costs and expenses relating to the distribution of Shares:
(i) the costs of processing and maintaining records of creations of Creation
Units; (ii) all costs of maintaining the records required of a registered
broker/dealer; (iii) the expenses of maintaining its registration or
qualification as a dealer or broker under federal or state laws; (iv) filing
fees; and (v) all other expenses incurred in connection with the distribution
services as contemplated in the Distribution Agreement. SIDCO receives no fee
from the Funds for its distribution services under the Distribution Agreement;
rather, the Adviser compensates SIDCO for certain expenses, out-of-pocket costs,
and transaction fees.
BNY
serves as Custodian and Transfer Agent to the Trust on behalf of the Funds. BNY
may appoint domestic and foreign sub-custodians and use depositories from time
to time to hold securities and other instruments purchased by the Trust in
foreign countries and to hold cash and currencies for the Trust. Under its
transfer agency agreement with the Trust, BNY has undertaken with the Trust to
provide the following services with respect to the Funds for which it serves as
Transfer Agent: (i) perform and facilitate the performance of purchases and
redemptions of Creation Units, (ii) prepare and transmit by means of Depository
Trust Company’s (“DTC”) book-entry system payments for dividends and
distributions on or with respect to the Shares declared by the Trust on behalf
of the Funds, as applicable, (iii) prepare and deliver reports, information and
documents as specified in the transfer agency agreement, (iv) perform the
customary services of a Transfer Agent and dividend disbursing agent, and (v)
render certain other miscellaneous services as specified in the transfer agency
agreement or as otherwise agreed upon.
4.
INVESTMENT TRANSACTIONS
For
the period ended April 30, 2026, the purchases and sales of investments in
securities, excluding in-kind transactions, long-term U.S. Government and
short-term securities were:
| |
|
Purchases |
|
Sales and
Maturities |
| Global X Silver Miners ETF |
|
$ |
1,144,444,363 |
|
|
$ |
1,086,081,844 |
|
| Global X Copper Miners ETF |
|
|
1,025,365,532 |
|
|
|
415,622,878 |
|
| Global X Gold Explorers ETF |
|
|
9,334,509 |
|
|
|
9,730,557 |
|
| Global X Uranium ETF |
|
|
425,606,216 |
|
|
|
276,535,085 |
|
| Global X Gold Miners ETF |
|
|
1,119,482 |
|
|
|
343,396 |
|
48
Notes to Financial Statements (Continued)
April 30, 2026 (Unaudited)
4.
INVESTMENT TRANSACTIONS (continued)
For
the period ended April 30, 2026, in-kind transactions associated with creations
and redemptions were:
| |
|
Purchases |
|
Sales |
|
Realized
Gain (Loss) |
| Global X Silver Miners ETF |
|
$ |
1,446,362,898 |
|
|
$ |
1,166,983,570 |
|
|
$ |
820,702,407 |
|
| Global X Copper Miners ETF |
|
|
3,489,338,507 |
|
|
|
1,478,923,584 |
|
|
|
730,189,072 |
|
| Global X Gold Explorers ETF |
|
|
17,285,629 |
|
|
|
22,196,582 |
|
|
|
15,375,985 |
|
| Global X Uranium ETF |
|
|
1,773,922,873 |
|
|
|
553,766,627 |
|
|
|
371,167,735 |
|
| Global X Gold Miners ETF |
|
|
11,228,876 |
|
|
|
4,053,222 |
|
|
|
347,766 |
|
During
the period ended April 30, 2026, there were no purchases or sales of long-term
U.S. Government securities for the Funds.
5.
TAX INFORMATION
The
amount and character of income and capital gain distributions to be paid, if
any, are determined in accordance with Federal income tax regulations, which may
differ from U.S. GAAP. As a result, net investment income (loss) and net
realized gain (loss) on investment transactions for a reporting period may
differ significantly from distributions during such period. These book/tax
differences may be temporary or permanent. To the extent these differences are
permanent in nature, they are charged or credited to undistributed net
investment income (loss), accumulated net realized gain (loss) or paid-in
capital, as appropriate, in the period that the differences arise.
The
differences have been reclassified on the Statements of Assets and Liabilities
to/from the Paid-in-Capital and Total Earnings (Accumulated Losses) accounts
during the fiscal year ended October 31, 2025 are primarily attributable to
redemptions in-kind and sales of passive foreign investment companies.
49
Notes to Financial Statements (Continued)
April 30, 2026 (Unaudited)
5.
TAX INFORMATION (continued)
The
tax character of dividends and distributions declared during the years ended
October 31, 2025 and October 31, 2024 were as follows:
| Global
X Funds |
|
Ordinary
Income |
|
|
Long-Term
Capital Gain |
|
|
Return of Capital |
|
|
Totals |
|
| Global X Silver Miners ETF |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2025 |
|
$ |
28,747,417 |
|
|
$ |
– |
|
|
$ |
– |
|
|
$ |
28,747,417 |
|
| 2024 |
|
|
4,691,079 |
|
|
|
– |
|
|
|
– |
|
|
|
4,691,079 |
|
| Global X Copper Miners ETF |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2025 |
|
$ |
46,259,121 |
|
|
$ |
– |
|
|
$ |
– |
|
|
$ |
46,259,121 |
|
| 2024 |
|
|
25,025,199 |
|
|
|
– |
|
|
|
– |
|
|
|
25,025,199 |
|
| Global X Gold Explorers ETF |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2025 |
|
$ |
907,543 |
|
|
$ |
– |
|
|
$ |
– |
|
|
$ |
907,543 |
|
| 2024 |
|
|
8,195 |
|
|
|
– |
|
|
|
– |
|
|
|
8,195 |
|
| Global X Uranium ETF |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2025 |
|
$ |
88,939,099 |
|
|
$ |
– |
|
|
$ |
– |
|
|
$ |
88,939,099 |
|
| 2024 |
|
|
148,385,995 |
|
|
|
– |
|
|
|
– |
|
|
|
148,385,995 |
|
As
of October 31, 2025, the components of tax basis accumulated losses were as
follows:
| |
|
Global X Silver
Miners ETF |
|
Global X
Copper Miners
ETF |
|
Global X Gold
Explorers ETF |
|
Global X
Uranium ETF |
| Undistributed
Ordinary Income |
|
$ |
51,846,074 |
|
|
$ |
105,582,441 |
|
|
$ |
2,699,673 |
|
|
$ |
245,817,543 |
|
| Capital
Loss Carryforwards |
|
|
(571,246,574 |
) |
|
|
(166,359,211 |
) |
|
|
(69,908,551 |
) |
|
|
(542,817,428 |
) |
| Unrealized
Appreciation on Investments and Foreign Currency |
|
|
1,049,325,107 |
|
|
|
475,619,281 |
|
|
|
34,556,884 |
|
|
|
2,315,523,608 |
|
| Other
Temporary Differences |
|
|
(10 |
) |
|
|
(9 |
) |
|
|
(6 |
) |
|
|
(2 |
) |
| Total Distributable
Earnings (Accumulated Losses) |
|
$ |
529,924,597 |
|
|
$ |
414,842,502 |
|
|
$ |
(32,652,000 |
) |
|
$ |
2,018,523,721 |
|
For
taxable years beginning after December 22, 2010, a Registered Investment Company
within the meaning of the 1940 Act is permitted to carry forward net capital
losses to offset capital gains realized in later years, and the losses carried
forward retain their original character as either long-term or short-term
losses.
The
Federal tax cost basis of investments and aggregate gross unrealized
appreciation and depreciation on investments held by the Funds at April 30, 2026
were as follows:
| Global
X Funds |
|
Federal
Tax
Cost |
|
Aggregated
Gross
Unrealized
Appreciation |
|
Aggregated
Gross
Unrealized
Depreciation |
|
Net
Unrealized
Appreciation
(Depreciation) |
| Global X Silver Miners ETF |
|
$3,530,449,133 |
|
$1,557,894,329 |
|
$(2,806,151) |
|
$1,555,088,178 |
| Global X
Copper Miners ETF |
|
6,194,067,768 |
|
1,012,564,530 |
|
(118,431,745) |
|
894,132,785 |
| Global X Gold
Explorers ETF |
|
83,298,053 |
|
48,542,882 |
|
(885,467) |
|
47,657,415 |
| Global X
Uranium ETF |
|
5,348,173,354 |
|
3,065,353,234 |
|
(249,169,906) |
|
2,816,183,328 |
50
Notes to Financial Statements (Continued)
April 30, 2026 (Unaudited)
5.
TAX INFORMATION (continued)
| Global
X Funds |
|
Federal
Tax
Cost |
|
Aggregated
Gross
Unrealized
Appreciation |
|
Aggregated
Gross
Unrealized
Depreciation |
|
Net
Unrealized
Appreciation
(Depreciation) |
| Global X Gold Miners ETF |
|
$8,182,784 |
|
$61,548 |
|
$(616,396) |
|
$(554,848) |
The
preceding differences between book and tax cost are primarily due to
mark-to-market treatment of passive foreign investment companies and wash
sales.
6.
CONCENTRATION OF RISKS
The
Funds invest in securities of foreign issuers in various countries. These
investments may involve certain considerations and risks not typically
associated with investments in the United States as a result of, among other
factors, the possibility of future political and economic developments, the
level of governmental supervision and regulation of securities markets in the
respective countries.
The
securities markets of emerging market countries are less liquid, subject to
greater price volatility, and have a smaller market capitalization than the U.S.
securities markets. In certain countries, there may be fewer publicly traded
securities and the market may be dominated by a few issuers or sectors. Issuers
and securities markets in such countries are not subject to as extensive and
frequent accounting, financial and other reporting requirements or as
comprehensive government regulations as are issuers and securities markets in
the United States. In particular, the assets and profits appearing on the
financial statements of emerging market country issuers may not reflect their
financial position or results of operations in the same manner as financial
statements for U.S. issuers. Substantially less information may be publicly
available about emerging market country issuers than is available about issuers
in the United States.
The
Funds may be subject to taxes imposed by countries in which they invest. Such
taxes are generally based on either income or gains earned or repatriated. The
Funds accrue and apply such taxes to net investment income, net realized gains
and net unrealized gains as income and/or capital gains are earned.
The
Adviser uses an indexing approach in seeking to achieve each Fund’s investment
objective.
The
Funds use a replication strategy. A replication strategy is an indexing strategy
that involves investing in the securities of an underlying index (also known as
a secondary index) in approximately the same proportions as in the underlying
index. Each Fund may utilize a representative sampling strategy with respect to
its underlying index when a replication strategy might be detrimental to its
shareholders, such as when there are practical difficulties or substantial costs
involved in compiling a portfolio of equity securities to follow its underlying
index, or, in certain instances, when securities in the underlying
51
Notes to Financial Statements (Continued)
April 30, 2026 (Unaudited)
6.
CONCENTRATION OF RISKS (continued)
index
become temporarily illiquid, unavailable or less liquid, or due to legal
restrictions (such as diversification requirements that apply to a Fund but not
its underlying indexes). Commodity related securities are susceptible to
fluctuations in certain commodity markets.
The
Funds invest in commodity related securities, which are susceptible to
fluctuations in certain commodity markets. Any negative changes in commodity
markets could have a great impact on those securities.
Please
refer to each Fund’s prospectus and statement of additional information (“SAI”)
for a more complete description of risks.
7.
LOANS OF PORTFOLIO SECURITIES
Each
Fund may lend portfolio securities having a market value up to one-third of its
total assets. Security loans made pursuant to securities lending agreements with
BNY are initially required to be secured by collateral equal to at least 102% of
the value of domestic equity securities and American Depositary Receipts
(“ADRs”) and 105% of the value of foreign equity securities (other than ADRs).
Such collateral received in connection with these loans will be cash and can be
invested in repurchase agreements, short-term investments or U.S. Treasury
obligations and is recognized in the Schedules of Investments and Statements of
Assets and Liabilities. The obligation to return securities lending collateral
is also recognized as a liability in the Statements of Assets and Liabilities.
It is each Fund’s policy to obtain additional collateral from or return excess
collateral to the borrower by the end of the next business day, following the
valuation date of the securities loaned. Therefore, the value of the collateral
held may be temporarily less than the value of the securities on loan.
Securities
pledged as collateral for repurchase agreements held in the Funds are held by
BNY and are designated as being held on each Fund’s behalf under a book-entry
system. The Funds monitor the adequacy of the collateral on a daily basis and
can require the seller to provide additional collateral in the event the market
value of the securities pledged falls below the carrying value of the repurchase
agreement, including accrued interest. It is each Fund’s policy to only enter
into repurchase agreements with banks and other financial institutions which are
deemed by the Adviser to be creditworthy. The Funds bear the risk of loss in the
event the other party to a repurchase agreement defaults on its obligations and
the Funds are prevented from exercising their rights to dispose of the
underlying securities received as collateral and the risk of a possible decline
in the value of the underlying securities during the period. For financial
statement purposes, the Funds record the securities lending collateral
(including in repurchase agreements, at value or restricted cash) as an asset
and the obligation to return securities lending collateral as a liability- on
the Statement of Assets and Liabilities.
Cash
collateral received in connection with securities lending is invested in
repurchase agreements and short-term investments by the lending agent. The Funds
do not have
52
Notes to Financial Statements (Continued)
April 30, 2026 (Unaudited)
7.
LOANS OF PORTFOLIO SECURITIES (continued)
effective
control of the non-cash collateral and therefore it is not disclosed in each
Fund’s Schedule of Investments.
Securities
lending transactions are entered into by the Funds under the Securities Lending
Agreement, which permits a Fund, under certain circumstances such as an event of
default, to offset amounts payable by the Fund to the same counterparty against
amounts receivable from the counterparty to create a net payment due to or from
the Fund.
Income
from securities lending is determined by the amount of interest earned on
collateral, net of any rebate and securities lending agent fees.
The
following is a summary of securities on loan by the Funds, with cash collateral
of overnight maturities and non-cash collateral, which would be subject to
offset as of April 30, 2026.
| |
|
Gross Amount
of Recognized
Assets
(Value
of Securities on
Loan) |
|
Value of Cash
Collateral
Received(1) |
|
Value of
Non-Cash
Collateral
Received(1) |
|
Net
Amount(2) |
| Global X
Silver Miners ETF |
|
$ |
94,665,924 |
|
|
$ |
39,780,680 |
|
|
$ |
54,645,906 |
|
|
$ |
239,338 |
|
| Global X Copper Miners
ETF |
|
|
183,641,079 |
|
|
|
154,486,129 |
|
|
|
29,154,950 |
|
|
|
— |
|
| Global X Gold Explorers
ETF |
|
|
926,712 |
|
|
|
1,018,086 |
|
|
|
91,374 |
|
|
|
— |
|
| Global X Uranium ETF |
|
|
603,627,755 |
|
|
|
384,949,905 |
|
|
|
198,510,889 |
|
|
|
20,166,961 |
|
| (1) |
Collateral and non-cash collateral received in excess of market value
of securities on loan is not presented in this table. The total cash
collateral received by the Fund is disclosed in the Statements of Assets
and Liabilities. |
| (2) |
The Fund adjusts collateral with the borrower by the next business day
after valuing loaned securities. As a result, collateral may briefly fall
below the value of securities on loan. |
The
value of loaned securities and related collateral outstanding at April 30, 2026
are shown in the Schedules of Investments. The value of the collateral held may
be temporarily less than that required under the lending contract. As of April
30, 2026, the cash collateral was invested in repurchase agreements and the
non-cash collateral consisted of U.S.
53
Notes to Financial Statements (Continued)
April 30, 2026 (Unaudited)
7.
LOANS OF PORTFOLIO SECURITIES (continued)
Treasury
Bills, Notes, Bonds and U.S. Treasury Inflation Indexed Bonds with the following
maturities:
| |
|
Overnight
and
Continuous |
|
<30 Days |
|
Between
30 & 90
Days |
|
>90 Days |
|
Total |
| Global X Silver Miners
ETF |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Repurchase Agreements |
|
$ |
39,780,680 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
39,780,680 |
|
| U.S. Government
Securities |
|
|
— |
|
|
|
— |
|
|
|
703,059 |
|
|
|
53,942,847 |
|
|
|
54,645,906 |
|
| Total |
|
$ |
39,780,680 |
|
|
$ |
— |
|
|
$ |
703,059 |
|
|
$ |
53,942,847 |
|
|
$ |
94,426,586 |
|
| Global X Copper Miners
ETF |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Repurchase Agreements |
|
$ |
154,486,129 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
154,486,129 |
|
| U.S. Government
Securities |
|
|
— |
|
|
|
— |
|
|
|
5,644 |
|
|
|
35,951,139 |
|
|
|
35,956,783 |
|
| Total |
|
$ |
154,486,129 |
|
|
$ |
— |
|
|
$ |
5,644 |
|
|
$ |
35,951,139 |
|
|
$ |
190,442,912 |
|
| Global X Gold Explorers
ETF |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Repurchase Agreements |
|
$ |
1,018,086 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,018,086 |
|
| U.S. Government
Securities |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
55,462 |
|
|
|
55,462 |
|
| Total |
|
$ |
1,018,086 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
55,462 |
|
|
$ |
1,073,548 |
|
| Global X Uranium ETF |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Repurchase Agreements |
|
$ |
384,988,963 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
384,988,963 |
|
| U.S. Government
Securities |
|
|
— |
|
|
|
3,473,292 |
|
|
|
465 |
|
|
|
195,037,132 |
|
|
|
198,510,889 |
|
| Total |
|
$ |
384,988,963 |
|
|
$ |
3,473,292 |
|
|
$ |
465 |
|
|
$ |
195,037,132 |
|
|
$ |
583,499,852 |
|
8.
CONTRACTUAL OBLIGATION
The
Funds enter into contracts in the normal course of business that contain a
variety of indemnifications. The Funds’ maximum exposure under these contracts
is unknown, however, the Funds have not had prior gains or losses pursuant to
these contracts. Management has reviewed the Funds’ existing contracts and
expects the risk of loss to be remote.
Pursuant
to the Trust’s organizational documents, the Trustees of the Trust (the
“Trustees”) and the Trust’s officers are indemnified against certain liabilities
that may arise out of the performance of their duties.
9.
RECENT ACCOUNTING PRONOUNCEMENT
In
this reporting period, the Funds adopted FASB issued Accounting Standards Update
2023-09 (“ASU 2023-09”), Income Taxes (Topic 740) Improvements to Income Tax
Disclosures, which amends quantitative and qualitative income tax disclosure
requirements in order to increase disclosure consistency, bifurcate income tax
information by jurisdiction
54
Notes to Financial Statements (Concluded)
April 30, 2026 (Unaudited)
9.
RECENT ACCOUNTING PRONOUNCEMENT (continued)
and
remove information that is no longer beneficial. Adoption of the new standard
impacted financial statement disclosures only and did not affect any Funds’
financial position or the results of its operations.
10.
SUBSEQUENT EVENTS
The
Funds have been evaluated by management regarding the need for additional
disclosures and/or adjustments resulting from subsequent events. Based on this
evaluation, no additional adjustments were required to the financial
statements.
55
Other
Information (Form N-CSRS Items 8-11) (Unaudited)
