Here are the 10-K annual reports from iShares Silver Trust (SLV) 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-K covers the audited annual report, with the full financial statements, so if you follow SLV 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 SLV filings page.
iShares Silver Trust reports that its net asset value grew from $13,401,259,004 at December 31, 2024 to $38,046,290,508 at December 31, 2025, driven by changes in silver holdings and prices. Shares outstanding rose from 508,950,000 to 582,950,000 over the same period.
The Trust is a passive grantor trust that holds physical silver, issuing and redeeming only in 50,000‑share Baskets through Authorized Participants. It sells small amounts of silver to pay a 0.50% annual Sponsor fee and other expenses, which gradually reduces the silver backing each Share.
The filing explains how silver is stored with JPMorgan’s London branch and sub‑custodians, valued daily using the LBMA Silver Price, and subject to operational, custody, cybersecurity, regulatory, and market risks, including potential premiums/discounts of the Share price versus NAV.