Quarterly ResultMay 12, 2026, 04:52 PM
Sprott Physical Silver Trust Net Assets $16.34B; Silver Holdings Up
AI Summary
Sprott Physical Silver Trust reported a significant increase in net assets and physical silver bullion holdings for the three months ended March 31, 2026. The Trust's net assets grew to $16.34 billion, with silver holdings reaching over 216 million troy ounces, driven by an increase in the spot price of silver and substantial unit issuance through its at-the-market program. The Trust recorded considerable unrealized and realized gains on its silver bullion during the period.
Key Highlights
- Net assets increased to $16,344.7 million ($25.71 per unit) as of March 31, 2026, from $15,108.9 million ($24.59 per unit) on December 31, 2025.
- Physical silver bullion holdings rose to 216,833,101 troy ounces as of March 31, 2026, from 210,706,099 troy ounces.
- Spot price of silver bullion increased to $75.17 per troy ounce from $71.66 per troy ounce.
- Net change in unrealized gains on silver bullion was $611.9 million, with net realized gains of $67.7 million for the quarter.
- Issued 25,103,740 units through the ATM program for gross proceeds of $694.5 million.
- Redeemed 3,737,232 units for $107.9 million of silver bullion (including $3.2 million cash outlay).
- The Trust returned 4.5% for the quarter, compared to a 4.9% return on spot silver.
- Management fees incurred were $20.0 million for the three months ended March 31, 2026, up from $6.4 million in 2025.