Statements of Operations (Unaudited) - USD ($)		3 Months Ended			6 Months Ended
		Jun. 30, 2026		Jun. 30, 2025	Jun. 30, 2026		Jun. 30, 2025
EXPENSES
Sponsor’s Fee		$ 1,161,743		$ 582,088	$ 2,803,624		$ 1,103,106
Total expenses		1,162,000		582,000	2,804,000		1,103,000
Net investment loss	[1]	(1,162,000)		(582,000)	(2,804,000)		(1,103,000)
REALIZED AND UNREALIZED GAINS / (LOSSES)
Realized gain / (loss) on palladium transferred to pay expenses		160,000		(138,000)	584,000		(315,000)
Realized gain / (loss) on palladium distributed for the redemption of Shares		3,559,000		(11,095,000)	56,369,000		(25,748,000)
Change in unrealized (loss) / gain on investment in palladium	[1]	(126,964,000)		73,133,000	(255,756,000)		118,512,000
Change in unrealized (loss) / gain on unsettled creations or redemptions		(632,000)	[1]		(632,000)	[1]
Total (loss)/gain on investment in palladium		(123,877,000)		61,900,000	(199,435,000)		92,449,000
Change in net assets from operations		$ (125,039,000)		$ 61,318,000	$ (202,239,000)		$ 91,346,000
Net increase / (decrease) in net assets per Share	[2]	$ (4.22)		$ 2.92	$ (6.17)		$ 4.47
Weighted average number of Shares	[2],[3]	29,648,214		21,020,604	32,789,986		20,412,638

[1] 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.

[2] 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.

[3] 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.