What changed in this filing

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Item 1. Financial Statements

2021-02-03 compared with 2020-11-06 · 66 added, 41 removed, 353 unchanged (23% of the section changed)

1 unchanged sentence

of Assets and Liabilities

September 30, 2020 (unaudited) and June 30, 2020

December 31, 2020 (unaudited) and June 30, 2020

Amounts in 000’s of US$ except share and per share data

September 30, 2020

December 31, 2020

June 30, 2020

9 unchanged sentences

of Investments

September 30, 2020 (unaudited) and June 30, 2020

December 31, 2020 (unaudited) and June 30, 2020

in 000’s of US$, except for ounces and percentages

September 30, 2020 (unaudited)

December 31, 2020 (unaudited)

Total investment

5 unchanged sentences

of Operations (Unaudited)

the three months ended September 30, 2020 and 2019

the three months ended December 31, 2020 and 2019

Amounts in 000’s of US$, except per share data

Three Months Ended September 30, 2020 (unaudited)

Three Months Ended September 30, 2019 (unaudited)

December 31, 2020

December 31, 2019

December 31, 2020

December 31, 2019

Total expenses

10 unchanged sentences

Weighted average number of shares (in 000’s)

do not round to $1.

Notes to the Financial Statements

of Changes in Net Assets (Unaudited)

the three months ended September 30, 2020 and 2019

the three and six months ended December 31, 2020 and 2019

Amounts in 000’s of US$

Three Months Ended September 30, 2020 (unaudited)

Three Months Ended September 30, 2019 (unaudited)

Three Months Ended December 31, 2020

Three Months Ended December 31, 2019

Six Months Ended December 31, 2020

Six Months Ended December 31, 2019

Net Assets –

8 unchanged sentences

end of period

do not round to $1.

Notes to the Financial Statements

Highlights (Unaudited)

the three months ended September 31, 2020 and 2019

the three and six months ended December 31, 2020 and 2019

Per Share Performance

(for a Share outstanding throughout each period)

Ended September

Ended September 30, 2019

December 31, 2020

December 31, 2019

December 31, 2020

December 31, 2019

Net asset value per Share at beginning of period

Net investment gain (loss) (1)

Net realized and unrealized gain (loss) on investment in platinum bullion

Net realized and unrealized gain (loss) on investment in platinum

Net change in net assets from operations

Net asset value per Share at end of period

Total return ratio, at net asset value (2)

Total return, at net asset value (2)

Net assets ($000’s)

74 unchanged sentences

audit fees and certain legal expenses.

of September 30, 2020, the fees payable to the Sponsor were $6,202.

of December 31, 2020, the fees payable to the Sponsor were $8,248.

As of June 30, 2020, the fees payable to the Sponsor were $3,601.

4 unchanged sentences

other than platinum.

Other than the Sponsor’s Fee, the Trust had no expenses during the three months ended September

Other than the Sponsor’s Fee, the Trust had no expenses during the three and six months ended December

31, 2020 and 2019.

54 unchanged sentences

Sponsor has evaluated whether or not there are uncertain tax positions that require financial statement recognition and has determined

that no reserves for uncertain tax positions are required as of September 30, 2020 and June 30, 2020.

that no reserves for uncertain tax positions are required as of December 31, 2020 and June 30, 2020.

Sponsor evaluates tax positions taken or expected to be taken in the course of preparing the Trust’s tax returns to determine

5 unchanged sentences

Open tax years are those years that are open for examination by the relevant income taxing authority.

As of September

As of December

31, 2020, the 2020, 2019 and 2018 tax years remain open for examination.

4 unchanged sentences

Investment in platinum

in ounces of platinum and their respective values for the period ended September 30, 2020.

in ounces of platinum and their respective values for the six months ended December 31, 2020.

Amounts in 000’s of US$, except for ounces data

3 unchanged sentences

Change in unrealized appreciation (depreciation)

Ending balance as of September 30, 2020

in ounces of platinum and their respective values for the year ended June 30, 2020.

Ending balance as of December 31, 2020

in ounces of platinum and their respective values for the fiscal year ended June 30, 2020.

Amounts in 000’s of US$, except for ounces data

40 unchanged sentences

events could have a material effect on the Trust’s financial position and results of operations.

Indemnification footnote

Indemnification

the Trust’s organizational documents, each of the Trustee (and its directors, officers, employees, shareholders, agents

94 unchanged sentences

of Operations

Quarter Ended September 30, 2020

the quarter the Trust’s net asset value increased 67.63% from $8,845,503 on June 30, 2020, to $14,827,671

on September 30, 2020.

The increase in the Trust’s net asset value was mainly due to the increase of the number of shares

from 1,100,000 on June 30, 2020 to 1,700,000 on September 30, 2020.

The net 600,000 share increase was a result of 12 creation

and no redemption orders (50,000 shares per creation and redemption order).

Over the period the price of platinum increased 8.60%

from $814.00 on June 30, 2020 to $884.00 on September 30, 2020.

8.46% increase in the Trust’s net asset value per share from $8.04 at June 30, 2020 to $8.72 at September 30, 2020

Quarter Ended December 31, 2020

Trust’s net asset value grew from $14,827,671 on September 30, 2020 to $22,247,473 on December 31, 2020, a 50.0% increase.

The growth in the Trust’s net asset value over this period was in part due to an increase in the number of shares outstanding

from 1,700,000 to 2,100,000, or 23.5%.

The 400,000 shares increase was the net result of 11 creation orders and 3 redemption orders

(50,000 shares per creation and redemption order).

The Trust’s net asset value also increased due to the positive change

in the price of platinum, which moved from $884.00 on September 30, 2020 to $1,075.00 on December 31, 2020, or 21.6%.

21.4% increase in the Trust’s net asset value per share, from $8.72 on September 30, 2020 to $10.59 on December 31, 2020

is directly related to the 21.6% increase in the price of platinum.

Trust’s net asset value per share increased slightly less than the price of platinum on a percentage basis due to the Sponsor’s

fees, which were $16,240 for the period, or 0.13% of the Trust’s average weighted assets of $12,886,636 during the period.

The net asset value per share of $9.74 on August 10, 2020 was the highest during the period, compared with a low during the period

of $8.03 on July 05, 2020.

increase in net assets resulting from operations for the quarter ended September 30, 2020 was $424,514, resulting primarily from

an unrealized gain on investment in platinum bullion of $441,130, reduced by a loss of $376 on metal sold to cover redemption

orders and Sponsor’s fees and by the Sponsor’s fees of $16,240.

Other than the Sponsor’s fees the Trust had

no expenses during the quarter.

fees, which were $20,640 for the quarter, or 0.13% of the Trust’s average weighted net assets of $16,455,685 during the

The net asset value per share of $10.59 on December 31, 2020 was the highest during the quarter, compared with a low

during the quarter of $8.35 on October 15, 2020.

increase in net assets resulting from operations for the quarter ended December 31, 2020 was $3,311,906, resulting from an unrealized

gain on investment in platinum bullion of $3,355,984, reduced by (i) a loss of $23,438 on metal sold to cover the redemption orders

and the Sponsor’s fees and (ii) the Sponsor’s fees of $20,640.

Other than the Sponsor’s fees the Trust had no

expenses during the quarter.

Months Ended December 31, 2020

Trust’s net asset value grew from $8,845,503 on June 30, 2020 to $22,247,473 on December 31, 2020, a 151.5% increase.

growth in the Trust’s net asset value was in part due to an increase in the number of shares outstanding from 1,100,000

to 2,100,000 over this period, or 90.9%.

The 1,000,000 shares increase was the net result of 23 creations orders and 3 redemption

orders (50,000 shares per creation and redemption order).

The growth in the Trust’s net asset value was also the result

of a change in the price of platinum, which increased 32.1% from $814.00 on June 30, 2020 to $1,075.00 on December 31, 2020.

31.7% increase in the Trust’s net asset value per share, from $8.04 on June 30, 2020 to $10.59 on December 31, 2020 is directly

related to the 32.1% increase in the price of platinum.

Trust’s net asset value per share increased slightly less than the price of platinum on a percentage basis due to the Sponsor’s

fees, which were $36,880 for the period, or 0.25% of the Trust’s average weighted net assets of $14,703,629 during the period.

The net asset value per share of $10.59 on December 31, 2020 was the highest during the period, compared with a low during the

period of $8.04 on July 05, 2020.

increase in net assets resulting from operations for the 6 months period ending December 31, 2020 was $3,736,419, resulting from

an unrealized gain on investment in platinum bullion of $3,797,114, decreased by (i) a loss of $23,815 on metal sold to cover

the redemption orders and the Sponsor’s fees, and (ii) the Sponsor’s fees of $36,880 Other than the Sponsor’s

fees the Trust had no expenses during the quarter.

Quantitative and Qualitative Disclosures About Market Risk

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements