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Condensed Statements of Financial Condition (USD $)
Sep. 30, 2012
Dec. 31, 2011
ASSETS    
Investment in palladium $ 494,491,065 [1] $ 351,083,261 [1],[2]
Total assets 494,491,065 351,083,261 [2]
LIABILITIES    
Fees payable to Sponsor 258,167 194,805 [2]
Total liabilities 258,167 194,805 [2]
REDEEMABLE SHARES AND SHAREHOLDERS’ DEFICIT    
Shares at redemption value to investors 508,390,190 [3] 373,935,765 [2],[3]
Shareholders’ deficit (14,157,292) (23,047,309) [2]
Total liabilities, redeemable Shares & shareholders’ deficit $ 494,491,065 $ 351,083,261 [2]
[1] The investment in palladium is valued at the lower of cost or market value. Refer to note 2.1 for a breakdown of cost and market value of the investment in palladium.
[2] Derived from audited Statement of Financial Condition as of December 31, 2011.
[3] Authorized share capital is unlimited with no par value per share. Shares issued and outstanding at September 30, 2012 were 8,050,000 and at December 31, 2011 were 5,950,000