What changed in this filing

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Item 1. Financial Statements

2024-05-08 compared with 2024-02-02 · 70 added, 65 removed, 219 unchanged (38% of the section changed)

1 unchanged sentence

of Assets and Liabilities

December 31, 2023 (unaudited) and June 30, 2023

March 31, 2024 (unaudited) and June 30, 2023

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

June 30, 2023

Investment in platinum, at fair value (1)

8 unchanged sentences

of Investments

December 31, 2023 (unaudited) and June 30, 2023

March 31, 2024 (unaudited) and June 30, 2023

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

December 31, 2023 (unaudited)

March 31, 2024 (unaudited)

Total investment

Assets in excess of liabilities

Liabilities in excess of other assets

June 30, 2023

3 unchanged sentences

of Operations (unaudited)

the three and six months ended December 31, 2023 and 2022

the three and nine months ended March 31, 2024 and 2023

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

December 31, 2023

December 31, 2022

December 31, 2023

December 31, 2022

March 31, 2024

March 31, 2023

March 31, 2024

March 31, 2023

Total expenses

12 unchanged sentences

of Changes in Net Assets (unaudited)

the three and six months ended December 31, 2023 and 2022

the three and nine months ended March 31, 2024 and 2023

Amounts in 000’s of US$

December 31, 2023

December 31, 2022

December 31, 2023

December 31, 2022

Net Assets – beginning of period

March 31, 2024

March 31, 2023

March 31, 2024

March 31, 2023

Net Assets – beginning of the period

Creations of 100,000 , 200,000 , 600,000 , and 300,000 shares respectively

7 unchanged sentences

Highlights (unaudited)

the three and six months ended December 31, 2023 and 2022

Share Performance

a Share outstanding throughout each period)

asset value per Share at beginning of period

investment gain (loss) (1)

realized and unrealized gain (loss) on investment in platinum

change in net assets from operations

asset value per Share at end of period

Market value per Share at end of period

the three and nine months ended March 31, 2024 and 2023

Per Share Performance

(for a Share outstanding throughout each period)

March 31, 2024

March 31, 2023

March 31, 2024

March 31, 2023

Net asset value per Share at beginning of

Net investment loss (1)

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

Value per Share at end of period

return ratio, at net asset value (2)

return ratio, at market price

assets ($000’s)

to average net assets

investment loss (3)

Total return ratio, at market price

Net assets ($000’s)

Ratio to average net assets

Net investment loss (3)

using the average shares outstanding method.

19 unchanged sentences

The Trust is not registered as an investment company under the Investment Company Act

of 1940, as amended, and is not required to register under such act.

of 1940 and is not required to register under such act.

preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires

11 unchanged sentences

vaulting premises.

99.84 % and 99.94 % of platinum is in the form of good delivery platinum bars as of December 31, 2023 and 2022, respectively.

99.82 % and 99.78 % of platinum is in the form of good delivery platinum bars as of March 31, 2024 and 2023, respectively.

A current list of all platinum held by the Custodian is available on the sponsor’s website.

20 unchanged sentences

(Amounts in 000’s of US$)

December 31, 2023

March 31, 2024

Investment in Platinum

3 unchanged sentences

Investment in Platinum

were no transfers between Level 1 and other Levels for the period ended December 31, 2023 and year ended June 30, 2023.

were no transfers between Level 1 and other Levels for the period ended March 31, 2024 and year ended June 30, 2023.

Expenses, realized gains and losses

5 unchanged sentences

legal expenses.

of period ended of December 31, 2023, the fees payable to the Sponsor were $ 15,759 .

of period ended of March 31, 2024, the fees payable to the Sponsor were $ 15,458 .

As of the year ended June 30, 2023, the fees payable

to the Sponsor were $ 15,441 .

respect to expenses not otherwise assumed by the Sponsor, the Trustee will, at the direction of the Sponsor or in its own

discretion, sell the Trust’s platinum as necessary to pay these expenses.

When selling platinum to pay expenses, the Trustee

will endeavor to sell the smallest amounts of platinum needed to pay these expenses in order to minimize the Trust’s holdings

of assets other than platinum.

Other than the Sponsor’s Fee, the Trust had no expenses during the six months and 3 months

ended December 31, 2023 and 2022.

respect to expenses not otherwise assumed by the Sponsor, the Trustee will, at the direction of the Sponsor or in its own discretion,

sell the Trust’s platinum as necessary to pay these expenses.

When selling platinum to pay expenses, the Trustee will endeavor

to sell the smallest amounts of platinum needed to pay these expenses in order to minimize the Trust’s holdings of assets other

than platinum.

Other than the Sponsor’s Fee, the Trust had no expenses during the three and nine months ended March 31, 2024, and

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

10 unchanged sentences

on a trade date basis using the average cost method.

Platinum Receivable and Payable

Receivable and Payable

receivable or payable represents the quantity of platinum covered by contractually binding orders for the creation or redemption of Shares

37 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, 2023 and June 30, 2023.

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

whether the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority.

Tax positions not

deemed to meet that threshold would be recorded as an expense in the current year.

The Trust is required to analyze all open tax

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

of December 31, 2023, the 2023, 2022 and 2021 tax years remain open for examination.

that no reserves for uncertain tax positions are required as of March 31, 2024 and June 30, 2023.

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

the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority.

Tax positions not deemed to

meet that threshold would be recorded as an expense in the current year.

The Trust is required to analyze all open tax years.

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

As of March 31, 2024, the 2023, 2022 and

2021 tax years remain open for examination .

Investment in Platinum

in ounces of platinum and their respective values for the period ended December 31, 2023:

in ounces of platinum and their respective values for the period ended March 31, 2024.

Schedule of Investment in Platinum

5 unchanged sentences

Change in unrealized appreciation (depreciation)

Ending balance as of December 31, 2023

Ending balance as of March 31, 2024

in ounces of platinum and their respective values for the fiscal year ended June 30, 2023.

21 unchanged sentences

Concentration of risk

Trust’s sole business activity is the investment in platinum.

The Trust’s sole business

activity is the investment in platinum.

Several factors could affect the price of platinum, including:

global platinum supply and demand, which is influenced by factors such as production and cost levels in major platinum-producing countries,

recycling, autocatalyst demand, industrial demand, jewelry demand and investment demand;

(ii) investors’ expectations with respect

to the rate of inflation;

(i) global platinum supply and

demand, which is influenced by factors such as production and cost levels in major platinum-producing countries, recycling, autocatalyst

demand, industrial demand, jewelry demand and investment demand;

(ii) investors’ expectations with respect to the rate of inflation;

(iii) currency exchange rates;

(iv) interest rates;

(v) investment and trading activities of hedge funds and

commodity funds;

and (vi) global or regional political, economic or financial events and situations.

In addition, there is no assurance

that platinum will maintain its long-term value in terms of purchasing power in the future.

In the event that the price of platinum declines,

the Sponsor expects the value of an investment in the Shares to decline proportionately.

Each of these events could have a material effect

on the Trust’s financial position and results of operations.

(v) investment and trading activities of hedge funds and commodity funds;

global or regional political, economic or financial events and situations.

In addition, there is no assurance that platinum will maintain

its long-term value in terms of purchasing power in the future.

In the event that the price of platinum declines, the Sponsor expects

the value of an investment in the Shares to decline proportionately.

Each of these events could have a material effect on the Trust’s

financial position and results of operations.

Indemnification

17 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