Texas Precious Metals Trust filed a Form 10-Q with the SEC on November 10, 2026, covering the quarterly period ended September 30, 2026, its first reporting period following commencement of operations on July 14, 2026.

Key Highlights

  • Gold ETF net assets: Y'all Street Physical Gold ETF reported net assets of $10,434,836 at September 30, 2026, with 250,000 shares outstanding at a net asset value per share of $41.74.
  • Gold holdings: The Gold ETF held 2,475.396 troy ounces of gold bullion at fair value of $10,337,996, representing 99.07% of net assets, against a cost of $10,088,476.
  • Silver ETF net assets: Y'all Street Physical Silver ETF reported net assets of $5,459,300, with 90,000 shares outstanding at a net asset value per share of $60.66.
  • Silver unrealized gain: The Silver ETF recorded a net change in unrealized appreciation on its silver investment of $253,635 for the period, with silver held at fair value of $5,404,646 against a cost of $5,151,012.
  • Units outstanding as of November 9, 2026: YSAU had 380,000 units outstanding and YSAG had 50,000 units outstanding.
  • Emerging growth company: The registrant is classified as a non-accelerated filer, smaller reporting company, and emerging growth company, and has elected not to use the extended transition period for new accounting standards.

First-Period Financials for Texas Precious Metals Trust's Two ETF Series

Texas Precious Metals Trust, a Delaware statutory trust managed by sponsor Teucrium Asset Management, LLC of Burlington, Vermont, commenced operations on July 14, 2026, through two series: Y'all Street Physical Gold ETF (NASDAQ:YSAU) and Y'all Street Physical Silver ETF (NASDAQ:YSAG). The 10-Q covers the period from that commencement date through September 30, 2026, making it the registrant's first quarterly filing.

According to the filing, the Gold ETF's total assets were $10,436,979, with liabilities of $2,143 consisting solely of a sponsor's fee payable, yielding net assets of $10,434,836. The fund reported net investment loss of $4,684, driven by sponsor's fees of $5,435 offset by interest income of $751. Net unrealized appreciation on gold bullion of $249,520 resulted in a net increase in net assets from operations of $244,836. All 250,000 shares were created during the period; no shares were redeemed.

The Silver ETF reported total assets of $5,461,169 and liabilities of $1,869, yielding net assets of $5,459,300. The fund recorded net investment loss of $4,245, with sponsor's fees of $4,678 and interest income of $433. The Silver ETF also recognized a net realized gain from silver sold to pay expenses of $710, and a net change in unrealized appreciation of $253,635, bringing net increase in net assets from operations to $250,100. All 90,000 shares were created during the period with no redemptions. As of November 9, 2026, units outstanding had grown to 380,000 for YSAU and 50,000 for YSAG, the filing disclosed.

What Was Disclosed

Texas Precious Metals Trust disclosed its inaugural quarterly financial statements for two precious metals ETF series, covering the period from July 14, 2026 through September 30, 2026, including statements of assets and liabilities, operations, changes in net assets, and schedules of investments for each series.