Quarterly ResultMay 12, 2026, 04:57 PM
Sprott Physical Platinum & Palladium Trust Q1 Net Assets $721.8M, Unrealized Losses $49.6M
AI Summary
Sprott Physical Platinum & Palladium Trust reported a net loss and comprehensive loss of $51.049 million for the three months ended March 31, 2026, primarily driven by $49.608 million in net change in unrealized losses on platinum and palladium bullion. The Trust's net assets decreased to $721.8 million ($16.56 per unit) from $772.4 million ($17.73 per unit) at December 31, 2025. During the period, the Trust issued 21,010 units for $0.5 million through its at-the-market offering program.
Key Highlights
- Net income (loss) and comprehensive income (loss) for Q1 2026 was ($51.049) million.
- Net change in unrealized losses on platinum and palladium bullion was ($49.608) million.
- Net assets decreased to $721.8 million ($16.56 per unit) as of March 31, 2026.
- Net assets were $772.4 million ($17.73 per unit) at December 31, 2025.
- The Trust issued 21,010 units for gross proceeds of $0.5 million via its ATM program in Q1 2026.
- The Trust's return for Q1 2026 was -6.6%, compared to spot platinum -5.2% and spot palladium -8.6%.
- Operating expenses for Q1 2026 were $0.4 million, or 0.19% of average net assets (annualized).
- Management fees incurred for Q1 2026 were $1.0 million.