TSOL — what changed in the latest 10-Q
A section-by-section comparison of TSOL'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 · 2026-08-12 vs the prior 10-Q · 2026-05-15
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +5 | −4 | ~4 | 16 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 2 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-12
The Trust’s investment objective is to seek to track the performance of solana, as measured by the performance of the Pricing Benchmark, adjusted for the Trust’s expenses and other liabilities, and to reflect rewards from staking a portion of the Trust’s solana, to the extent the Sponsor in its sole…
Net decrease in net assets resulting from operations for the three months ended June 30, 2026 was $(293,613), resulting from a net change in unrealized depreciation on investment in solana of $(296,506), a net realized loss of $0 from solana sold for redemptions, a net realized loss of $(10,572) fro…
* No prior year comparative period has been provided as the Trust did not have any operations as of June 30, 2025.
Net decrease in net assets resulting from operations for the six months ended June 30, 2026 was $(1,600,591), resulting from a net change in unrealized depreciation on investment in solana of $(1,300,734), a net realized loss of $(232,315) from solana sold for redemptions, a net realized loss of $(9…
* No prior year comparative period has been provided as the Trust did not have any operations as of June 30, 2025.
Text removed vs the prior filing · source: 10-Q · 2026-05-15
The Trust’s investment objective is to seek to track the performance of solana, as measured by the performance of the Pricing Benchmark, adjusted for the Trust’s expenses and other liabilities, and to reflect rewards from staking a portion of the Trust’s solana, to the extent the Sponsor in its sole…
The Trust’s NAV decreased from $5,735,019 on December 31, 2025 to $2,876,514 on March 31, 2026, a 33.30% decrease. The decrease in the Trust’s NAV resulted primarily from a decrease in the price of solana, which decreased 33.32% from $123.97 on December 31, 2025 to $82.66 on March 31, 2026. The decr…
Net decrease in net assets resulting from operations for the three months ended March 31, 2026 was $(1,306,978), resulting from a net change in unrealized depreciation on investment in solana of $(1,004,228), a net realized loss of $(232,315) from solana sold for redemptions, a net realized loss of …
*No prior year comparative period has been provided as the Trust did not have any operations as of March 31, 2025.
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