SLV — what changed in the latest 10-Q
A section-by-section comparison of SLV's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-07 vs the prior 10-Q · 2025-11-06
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | 0 | −3 | ~4 | 6 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Market risk (Item 3), Legal proceedings, Other information
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text removed vs the prior filing · source: 10-Q · 2025-11-06
The Trust’s net asset value increased from $13,401,259,004 at December 31, 2024 to $23,214,100,171 at September 30, 2025, a 73.22% increase. The increase in the Trust’s net asset value resulted primarily from an increase in the price of silver, which rose 59.74% from $28.91 at December 31, 2024 to $…
The NAV increased slightly less than the price of silver on a percentage basis due to the Sponsor’s fees, which were $60,734,311 for the period, or 0.37% of the Trust’s average weighted assets of $16,239,468,069 during the period. The NAV of $42.61 on September 29, 2025 was the highest during the pe…
The net increase in net assets resulting from operations for the nine months ended September 30, 2025 was $8,162,197,125, resulting from a net realized gain of $17,333 from litigation proceeds, a net realized gain of $12,431,608 from investment in silver bullion sold to pay expenses, a net realized …
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice