Here’s How Sprott Physical Silver (PSLV) Reacted to Fiscal and Monetary Policies

Core Insights - Palm Valley Capital Fund experienced a 0.66% appreciation in Q4 2025, underperforming the S&P SmallCap 600's 1.70% gain and the Morningstar Small Cap Total Return Index's 3.12% rise [1] - The Fund increased its allocation to Treasury bills from 74.1% to 76.3% during the quarter, while equity holdings rose by 1.12% [1] - Investments in precious metals, particularly silver, significantly influenced the Fund's performance, with silver being the largest allocation for several years [1] Fund Performance - The Fund's performance in Q4 was positively impacted by the strong price action in silver and gold, attributed to the nation's fiscal and monetary policies [3] - Physical silver shortages led to a significant price increase in Q4, with silver and gold reaching record levels [3] - The Fund sold its position in Sprott Physical Silver Trust (NYSEAMERICAN:PSLV) near the end of the quarter, indicating a strategic shift away from reliance on metals as a hedge [3] Key Holdings - Sprott Physical Silver Trust (NYSEAMERICAN:PSLV) was highlighted as a key stock, closing at $26.87 per share on January 6, 2026, with a market capitalization of $15.609 billion [2]