Statements of Assets and Liabilities (Unaudited) - USD ($)		Jun. 30, 2026	Dec. 31, 2025
ASSETS
Investment in palladium (cost: June 30, 2026: $651,131; December 31, 2025: $797,137)		$ 597,981,000	$ 1,000,375,000
Palladium receivable		0	35,582,903
Total assets		597,981,000	1,035,958,000
LIABILITIES
Fees payable to Sponsor		310,818	495,511
Palladium payable		6,585,440	0
Total liabilities		6,896,000	496,000
NET ASSETS	[1]	$ 591,085,000	$ 1,035,462,000

[1] Authorized share capital is Unlimited with no par value per Share. Shares issued and outstanding at June 30, 2026 were 26,750,000 and at December 31, 2025 were 36,375,000. Net asset values per Share at June 30, 2026 and December 31, 2025 were $22.10 and $28.47, respectively. After the close of markets on May 14, 2026, the Trust effected a five-for-one forward share split of the Shares issued by the Trust (the "Split"). The information presented attributable to periods prior to the Split has been adjusted to reflect the effects of the Split.