SIVR — what changed in the latest 10-Q
A section-by-section comparison of SIVR'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 · 2026-05-08 vs the prior 10-Q · 2025-11-07
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +4 | −5 | ~3 | 13 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
| 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.
Not shown (absent or not faithfully extractable): Legal proceedings
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 · 2026-05-08
The increase in net assets from operations for the quarter ended March 31, 2026 was $111,857,092, resulting from a realized gain of $2,430,007 on the transfer of silver to pay expenses, a realized gain of $604,812,398 on silver distributed for the redemption of Shares, offset by a change in unrealiz…
The NAV per Share increased 17.76% from $27.59 at December 31, 2024 to $32.49 at March 31, 2025. The Trust’s NAV per Share rose slightly less than the price per ounce of silver on a percentage basis due to the Sponsor’s Fee, net of waiver, which was $1,153,042 for the quarter, or 0.30% of the Trust’…
The NAV per Share of $32.81 at March 28, 2025 was the highest during the quarter, compared with a low of $28.07 at January 2, 2025.
The increase in net assets from operations for the quarter ended March 31, 2025 was $247,135,087, resulting from a realized gain of $238,557 on the transfer of silver to pay expenses, a realized gain on silver distributed for the redemption of Shares of $29,039,831, and a change in unrealized gain o…
Text removed vs the prior filing · source: 10-Q · 2025-11-07
The NAV per Share of $44.72 at September 29, 2025 was the highest during the quarter, compared with a low of $34.52 at July 31, 2025.
The increase in net assets from operations for the quarter ended September 30, 2025 was $623,655,725, resulting from a realized gain of $472,923 on the transfer of silver to pay expenses, and a change in unrealized gain on investment in silver of $625,013,292, offset by the Sponsor’s Fee, net of wai…
The NAV per Share increased 59.41% from $27.59 at December 31, 2024 to $43.98 at September, 2025. The Trust’s NAV per Share rose slightly less than the price per ounce of silver on a percentage basis due to the Sponsor’s Fee, net of waiver, which was $4,251,170 for the period, or 0.30% of the Trust’…
The NAV per of $44.72 at September 29, 2025 was the highest during the period, compared with a low of $27.59 at January 1, 2025.
The increase in net assets from operations for the period ended September 30, 2025 was $970,839,146, resulting from a realized gain of $1,020,166 on the transfer of silver to pay expenses, a realized gain of $29,039,831 on silver distributed for the redemption of Shares and a change in unrealized ga…
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