Palm Valley Capital Management released its fourth-quarter 2025 investor letter for the Palm Valley Capital Fund, showing a 0.66% appreciation compared to the S&P SmallCap 600’s 1.70% gain and the Morningstar Small Cap Total Return Index’s 3.12% rise. The Fund’s equity holdings increased by 1.12% over three months, with a focus on precious metals like silver.

The investor letter highlighted the performance of Sprott Physical Silver Trust (NYSEAMERICAN:PSLV), a closed-end trust that allows investors to invest in physical silver. Sprott Physical Silver Trust (NYSEAMERICAN:PSLV) stock closed at $26.87 per share on January 6, 2026, with a market capitalization of $15.609 billion. Palm Valley Capital Fund made strategic decisions regarding its investment in Sprott Physical Silver Trust.

In the fourth quarter 2025 investor letter, Palm Valley Capital Fund mentioned selling its position in Sprott Physical Silver Trust (NYSEAMERICAN:PSLV), along with silver and gold trusts. The Fund expressed concerns about the rapid increase in silver and gold prices, leading to the decision to sell the position in Sprott Physical Silver Trust. This move aimed to reduce reliance on metals as a hedge for the Fund’s high cash position.

Read more at Yahoo Finance: Here’s How Sprott Physical Silver (PSLV) Reacted to Fiscal and Monetary Policies