Sprott Physical Gold & Silver Trust

# Sprott Physical Gold & Silver Trust

Incorporated in Ontario, Canada, this trust operates as a commodity investment vehicle focused on precious metals. The fund holds physical gold and silver bullion as its primary assets, enabling investors to gain exposure to these commodities through a publicly traded structure listed on the NYSE.

The trust generates revenue primarily through management fees charged on its assets under administration. Its business model centers on acquiring, storing, and safeguarding physical precious metals bullion on behalf of unitholders. With a market capitalization of approximately $9.8 billion, the trust represents one of the larger physically-backed precious metals investment vehicles available to retail and institutional investors.

The trust operates across multiple geographies, maintaining bullion holdings in secure storage facilities. Operational activities are limited in scope, focused on the custodial management of precious metals inventories rather than traditional business operations involving employees or conventional revenue streams. The trust's scale is measured by assets under administration rather than traditional business metrics, reflecting its passive investment structure designed to track changes in the underlying value of its physical gold and silver holdings.