What changed in this filing

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Item 1. Financial Statements

2023-05-05 compared with 2023-02-03 · 61 added, 59 removed, 222 unchanged (35% of the section changed)

1 unchanged sentence

of Assets and Liabilities

December 31, 2022 (unaudited) and June 30, 2022

March 31, 2023 (unaudited) and June 30, 2022

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

December 31, 2022

March 31, 2023

June 30, 2022

4 unchanged sentences

Net asset value per Share

of investment in platinum:

Cost of investment in platinum:

$ 47,550 and $ 51,381 , respectively.

par value, unlimited amount authorized.

No par value, unlimited

amount authorized.

Notes to the Financial Statements

of Investments

December 31, 2022 (unaudited) and June 30, 2022

March 31, 2023 (unaudited) and June 30, 2022

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

December 31, 2022 (unaudited)

March 31, 2023 (unaudited)

Total investment

5 unchanged sentences

of Operations (unaudited)

the three and six months ended December 31, 2022 and 2021

the three and nine months ended March 31, 2023 and 2022

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

December 31, 2022

December 31, 2021

December 31, 2022

December 31, 2021

March 31, 2023

March 31, 2022

March 31, 2023

March 31, 2022

Total expenses

10 unchanged sentences

Weighted average number of shares (in 000’s)

Amounts do not round to

Notes to the Financial Statements

of Changes in Net Assets (unaudited)

the three and six months ended December 31, 2022 and 2021

the three and nine months ended March 31, 2023 and 2022

Amounts in 000’s of US$

December 31, 2022

December 31, 2021

December 31, 2022

December 31, 2021

Net Assets – beginning of period

March 31, 2023

March 31, 2022

March 31, 2023

March 31, 2022

Net Assets – beginning of the period

Creations of 200,000 , 2,250,000 , 300,000 and 2,550,000 shares respectively

5 unchanged sentences

Net Assets – end of period

Amounts do not round to $1.

Notes to the Financial Statements

Highlights (unaudited)

the three and six months ended December 31, 2022 and 2021

the three and nine months ended March 31, 2022 and 2021

Per Share Performance

(for a Share outstanding throughout each period)

December 31, 2022

December 31, 2021

December 31, 2022

December 31, 2021

March 31, 2023

March 31, 2022

March 31, 2023

March 31, 2022

Net asset value per Share at beginning of period

Net investment gain (loss) (1)

Net investment loss (1)

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

1 unchanged sentence

Net asset value per Share at end of period

return ratio, at net asset value (2)

Total return, at net asset value (2)

Net assets ($000’s)

1 unchanged sentence

Net investment loss (3)

using the average shares outstanding method.

not annualized.

Calculated using the average shares outstanding method.

Percentage not annualized.

Percentage annualized.

Notes to the Financial Statements

57 unchanged sentences

legal expenses.

of December 31, 2022, the fees payable to the Sponsor were $ 19,040 .

of March 31, 2023, the fee payable to the Sponsor was $ 19,003 .

As of June 30, 2022, the fees payable to the Sponsor were $ 19,453 .

4 unchanged sentences

than platinum.

Other than the Sponsor’s Fee, the Trust had no expenses during the three and six months ended December 31, 2022

Other than the Sponsor’s Fee, the Trust had no expenses during the three and nine months ended March 31, 2023 and

otherwise directed by the Sponsor, when selling platinum the Trustee will endeavor to sell at the price established by the LBMA PM Platinum

22 unchanged sentences

to create or redeem Baskets is properly received.

to create and redeem Baskets may be placed only by Authorized Participants.

Orders to create and redeem Baskets may be placed only by Authorized Participants.

An Authorized Participant must:

(1) be a registered broker-dealer

or other securities market participant, such as a bank or other financial institution, which, but for an exclusion from registration,

would be required to register as a broker-dealer to engage in securities transactions, (2) be a participant in DTC, and (3) must have

an agreement with the Custodian establishing an unallocated account in London or have an existing unallocated account meeting the standards

described herein.

To become an Authorized Participant, a person must enter into an Authorized Participant Agreement with the Sponsor

and the Trustee.

The Authorized Participant Agreement provides the procedures for the creation and redemption of Baskets and for the

delivery of the platinum required for such creations and redemptions.

The Authorized Participant Agreement and the related procedures

attached thereto may be amended by the Trustee and the Sponsor, without the consent of any investor or Authorized Participant.

A transaction

fee of $ 500 will be assessed on all creation and redemption transactions.

Multiple Baskets may be created on the same day, provided each

Basket meets the requirements described below and that the Custodian is able to allocate platinum to the Trust Allocated Account such

that the Trust Unallocated Account holds no more than 192 ounces of platinum at the close of a business day.

(1) be a registered broker-dealer or other securities market participant, such as a bank or other financial

institution, which, but for an exclusion from registration, would be required to register as a broker-dealer to engage in securities

transactions, (2) be a participant in DTC, and (3) must have an agreement with the Custodian establishing an unallocated account in London

or have an existing unallocated account meeting the standards described herein.

To become an Authorized Participant, a person must enter

into an Authorized Participant Agreement with the Sponsor and the Trustee.

The Authorized Participant Agreement provides the procedures

for the creation and redemption of Baskets and for the delivery of the platinum required for such creations and redemptions.

The Authorized

Participant Agreement and the related procedures attached thereto may be amended by the Trustee and the Sponsor, without the consent

of any investor or Authorized Participant.

A transaction fee of $ 500 will be assessed on all creation and redemption transactions.

Baskets may be created on the same day, provided each Basket meets the requirements described below and that the Custodian is able to

allocate platinum to the Trust Allocated Account such that the Trust Unallocated Account holds no more than 192 ounces of platinum at

the close of a business day.

Participants who make deposits with the Trust in exchange for Baskets will receive no fees, commissions or other form of compensation

8 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 December 31, 2022 and June 30, 2022.

that no reserves for uncertain tax positions are required as of March 31, 2023 and June 30, 2022.

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

4 unchanged sentences

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

As of December 31, 2022, the 2022, 2021,

As of March 31, 2023, the 2022, 2021, 2020

and 2019 tax years remain open for examination .

3 unchanged sentences

Investment in Platinum

in ounces of platinum and their respective values for the six months ended December 31, 2022.

Schedule of Investment in Platinum

in ounces of platinum and their respective values for the nine months ended March 31, 2023.

of Investment in Platinum

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

4 unchanged sentences

Change in unrealized appreciation (depreciation)

Ending balance as of December 31, 2022

Ending balance as of March 31, 2023

in ounces of platinum and their respective values for the fiscal year ended June 30, 2022.

8 unchanged sentences

fee is paid to the Sponsor as compensation for services performed under the Trust Agreement.

In exchange for the Sponsor’s

fee, the Sponsor has agreed to assume the following administrative and marketing expenses incurred by the Trust:

the Trustee’s

fee and out-of-pocket expenses, the custodian’s fee and reimbursement of the custodian expenses, NYSE Arca listing fees, SEC

registration fees, printing and mailing costs, audit fees and expenses, and up to $ 100,000

per annum in legal fees and expenses.

The Sponsor’s fee is payable at an annualized rate of 0.50 %

of the Trust’s Net Asset Value, accrued on a daily basis computed on the prior Business Day’s Net Asset Value and paid

monthly in arrears.

In exchange for the Sponsor’s fee,

the Sponsor has agreed to assume the following administrative and marketing expenses incurred by the Trust:

the Trustee’s fee and

out-of-pocket expenses, the custodian’s fee and reimbursement of the custodian expenses, NYSE Arca listing fees, SEC registration

fees, printing and mailing costs, audit fees and expenses, and up to $ 100,000 per annum in legal fees and expenses.

The Sponsor’s

fee is payable at an annualized rate of 0.50 % of the Trust’s Net Asset Value, accrued on a daily basis computed on the prior Business

Day’s Net Asset Value and paid monthly in arrears.

Sponsor, from time to time, may temporarily waive all or a portion of the Sponsor’s Fee at its discretion for a stated period of

40 unchanged sentences

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