Here are the 10-Q quarterly reports from abrdn Physical Silver Shares ETF (SIVR) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow SIVR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SIVR filings page.
abrdn Silver ETF Trust (SIVR) held $4,260.2 million of silver at September 30, 2026, with net assets of $4,259.2 million. Its Shares are designed to reflect physical silver’s price less expenses. The Trust issues and redeems Shares only with Authorized Participants in blocks of 50,000 Shares, in exchange for silver.
For the third quarter, NAV per Share rose 3.20% to $57.67, and total NAV increased 7.81%. For the first nine months, NAV per Share fell 15.83% and total NAV declined 21.57% to $4,259.2 million. Silver’s price fell 15.64%, from $71.99 to $60.73 per ounce. The Trust recorded a $721.2 million decrease in net assets from operations, compared with a $970.8 million increase in the same 2025 period.
Silver was substantially all of the Trust’s assets, concentrating its exposure in silver-price movements. The Sponsor’s Fee was reduced by a voluntary waiver to 0.30% of adjusted daily net asset value on an annualized basis and is paid through transfers of silver. The Trust held no cash at September 30, 2026; its disclosure controls were assessed as effective.
abrdn Silver ETF Trust holds physical silver and seeks to track the metal’s price, less expenses. As of June 30, 2026, net assets were $3,950,569,678, backed by 67,209,074.2 ounces of silver. NAV per share was $55.88, down from $68.52 at December 31, 2025.
For the six months ended June 30, 2026, NAV fell 27.25%, driven mainly by an 18.32% drop in the LBMA silver price from $71.99 to $58.80 and net redemptions of 8.55 million shares (9.2 million created, 17.75 million redeemed). Total return based on NAV was -18.45%. For the quarter, NAV declined 20.52%, with a -19.17% NAV total return as silver fell 19.12%.
The Trust generated a net investment loss because it earns no income and incurs a Sponsor’s Fee, which is paid in silver. After a voluntary waiver, the effective annualized expense ratio was 0.30%, with net Sponsor’s Fees of $8.0 million for the first half. No additional operating expenses, off-balance sheet arrangements, or material subsequent events were reported.
abrdn Silver ETF Trust reported first‑quarter 2026 results driven by movements in the silver market and share activity. Net assets fell 8.47% from $5,430,232,000 to $4,970,487,000 as of March 31, 2026, mainly due to net redemptions of Shares and realized distributions of silver.
The Trust’s net asset value per Share rose 0.89% from $68.52 to $69.13, while the LBMA silver price increased 0.97% from $71.99 to $72.69 per ounce. At quarter‑end, the Trust held about 68.4 million ounces of silver valued at $4,971,793,000.
The Sponsor’s Fee, net of a voluntary waiver, totaled $4,308,963 for the quarter, corresponding to a 0.30% annualized expense ratio. The Trust recorded a $111,857,000 increase in net assets from operations, reflecting realized gains on silver used for redemptions and expenses, partially offset by unrealized losses as silver prices fluctuated.
abrdn Silver ETF Trust (SIVR) reported a strong Q3 2025 as rising silver prices lifted results. Net assets rose to $3,004,025 (in 000s) at September 30, 2025, up from $1,982,136 (in 000s) at June 30, 2025. NAV per Share increased 28.26% to $43.98, tracking the LBMA Silver Price move from $35.98 to $46.18 per ounce during the quarter. The Trust held 65,072,933.3 ounces of silver with a fair value of $3,004,743 (in 000s) at quarter‑end.
Creation activity expanded the fund: 10,500,000 Shares were created and none redeemed in Q3. For the nine months ended September 30, 2025, net assets rose to $3,004,025 (in 000s) from $1,421,124 (in 000s), with NAV per Share up 59.41% from $27.59 to $43.98. The Sponsor’s Fee, net of waiver, was $1,830 (in 000s) for Q3 and $4,251 (in 000s) year‑to‑date, reflecting a 0.30% annualized expense ratio (gross 0.45%). As of November 6, 2025, Shares outstanding were 73,250,000.