4 days ago
3
Soumya Eswaran
Wed, January 7, 2026 astatine 7:10 AM CST 3 min read
Palm Valley Capital Management, an concern absorption firm, has released the “Palm Valley Capital Fund” fourth-quarter 2025 capitalist letter. A transcript of the missive tin be downloaded here. In the 4th quarter, Palm Valley Capital Fund appreciated 0.66% compared to a 1.70% summation for the S&P SmallCap 600 and a 3.12% emergence successful the Morningstar Small Cap Total Return Index. At the opening of the quarter, the Fund allocated 74.1% to Treasury bills and accrued to 76.3% by the extremity of the quarter. The equity holdings of the Fund roseate by 1.12% implicit the past 3 months (excluding the effects of money operating expenses). The show of equities was positively influenced by the investments successful precious metals, peculiarly arsenic metallic has been the Fund’s largest allocation for the past fewer years. In addition, delight cheque the fund’s apical 5 holdings to cognize its champion picks successful 2025.
In its fourth-quarter 2025 capitalist letter, Palm Valley Capital Fund highlighted stocks specified arsenic Sprott Physical Silver Trust (NYSEAMERICAN:PSLV). Sprott Physical Silver Trust (NYSEAMERICAN:PSLV) is simply a closed-end spot that allows investors to put successful carnal silver. On January 6, 2026, Sprott Physical Silver Trust (NYSEAMERICAN:PSLV) banal closed astatine $26.87 per stock compared to the erstwhile adjacent of $25.34. Sprott Physical Silver Trust (NYSEAMERICAN:PSLV) has a marketplace capitalization of $15.609 billion.
Palm Valley Capital Fund stated the pursuing regarding Sprott Physical Silver Trust (NYSEAMERICAN:PSLV) successful its 4th fourth 2025 capitalist letter:
"We sold the Sprott Physical Silver Trust (NYSEAMERICAN:PSLV) successful Q4. Two different apical contributors to the Fund’s 4th fourth show were metallic and golden (Sprott Physical Silver and Gold Trusts, tickers PSLV and PHYS), which person yet responded successful a large mode to the nation’s hopeless fiscal and monetary policies. Physical metallic shortages catapulted prices higher successful Q4. Although we measure terms levels for the metals comparative to their mining costs, we don’t person strict valuations for them similar we bash for our different holdings. The feverish terms enactment successful Q4 sent metallic and golden to grounds levels, which, portion perchance justified by years of plus inflation, made america consciousness they whitethorn person moved excessively far, excessively fast. As a result, we wholly sold our presumption successful the Sprott Silver Trust adjacent the extremity of the 4th (a wide usurpation of the model dressing playbook!). These portfolio moves meaningfully curtail our reliance connected the metals arsenic a hedge for our precocious currency position, which we anticipation to regenerate utilizing different asset-based holdings."
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