What changed in this filing

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Item 1. Financial Statements

2025-02-03 compared with 2024-11-08 · 58 added, 41 removed, 242 unchanged (29% of the section changed)

1 unchanged sentence

of Assets and Liabilities

September 30, 2024 (unaudited) and June 30, 2024

December 31, 2024 (unaudited) and June 30, 2024

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

September 30, 2024

June 30, 2024

Investment in platinum, at fair value (1)

8 unchanged sentences

of Investments

September 30, 2024 (unaudited) and June 30, 2024

December 31, 2024 (unaudited) and June 30, 2024

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

September 30, 2024 (unaudited)

December 31, 2024 (unaudited)

Total investment

Liabilities in excess of other assets

Assets in excess of liabilities

June 30, 2024

3 unchanged sentences

of Operations (Unaudited)

the three months ended September 30, 2024 and 2023

the three and six months ended December 31, 2024, and 2023

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

September 30, 2024

September 30, 2023

December 31, 2024

December 31, 2023

December 31, 2024

December 31, 2023

Total expenses

Net investment loss

Net realized and unrealized gains (losses)

Net realized and unrealized gain (loss)

Net realized gain (loss) from:

9 unchanged sentences

of Changes in Net Assets (Unaudited)

the three months ended September 30, 2024 and 2023

the three and six months ended December 31, 2024 and 2023

Amounts in 000’s of US$

September 30, 2024

September 30, 2023

Net Assets – beginning of the period

December 31, 2024

December 31, 2023

December 31, 2024

December 31, 2023

Net Assets – beginning of period

Creations of 1,000,000 , 50,000 , 1,000,000 and 500,000 shares respectively

7 unchanged sentences

Highlights (Unaudited)

the three months ended September 30, 2024 and 2023

the three and six months ended December 31, 2024 and 2023

Per Share Performance

(for a Share outstanding throughout each period)

September 30, 2024

September 30, 2023

December 31, 2024

December 31, 2023

December 31, 2024

December 31, 2023

Net asset value per Share at beginning of period

4 unchanged sentences

Market value per Share at end of period

return ratio, at net asset value (2)

Total return ratio, at net asset value (2)

Total return ratio, at market price (2)

23 unchanged sentences

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

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

of 1940, as amended, 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.

99.97 % and 99.89 % of platinum is in the form of good delivery platinum bars as of September 30, 2024 and 2023, respectively.

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

The cost of platinum is determined

according to the average cost method and the fair value is based on the London Bullion Market Association (“LBMA”) Platinum

of platinum is in the form of good delivery platinum bars as of December 31, 2024 and 2023, respectively.

A current list of all platinum

held by the Custodian is available on the sponsor’s website.

The cost of platinum is determined according to the average cost method

and the fair value is based on the London Bullion Market Association (“LBMA”) Platinum Price PM.

Platinum Price PM is the price per troy ounce of platinum, stated in U.S.

17 unchanged sentences

(Amounts in 000’s of US$)

September 30, 2024

December 31, 2024

Investment in Platinum

3 unchanged sentences

Investment in Platinum

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

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

Expenses, realized gains and losses

5 unchanged sentences

legal expenses.

of period ended September 30, 2024, the fees payable to the Sponsor were $ 16,927 .

As of the year June 30, 2024, the fees payable to the

Sponsor were $ 17,280 .

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 months ended September 30, 2024 and 2023.

of period ended of December 31, 2024, the fees payable to the Sponsor were $ 19,125 .

As of the fiscal year ended June 30, 2024, the fees

payable to the Sponsor were $ 17,280 .

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, 2024 and 2023.

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.

Receivable and Payable

Platinum 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 September 30, 2024 and June 30, 2024.

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

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 September 30, 2024, the 2024, 2023,

As of December 31, 2024, the 2024, 2023

and 2022 tax years remain open for examination .

2.6 Recently Issued Accounting Pronouncement

The Trust adopted FASB Accounting Standards Update 2023-07, Segment Reporting

(Topic 280) - Improvements to Reportable Segment Disclosures (“ASU 2023-07”).

The Trust operates in one segment.

derives its revenues from Trust investments made in accordance with the defined investment strategy of the Trust, as prescribed in the

Trust’s prospectus.

The Chief Operating Decision Maker (“CODM”) is the Sponsor.

The CODM monitors the operating results of

The financial information the CODM leverages to assess the segment’s performance and to make decisions for the Trust’s single

segment, is consistent with that presented within the Trust’s financial statements.

Investment in Platinum

in ounces of platinum and their respective values for the period ended September 30, 2024.

in ounces of platinum and their respective values for the period ended December 31, 2024:

Schedule of Investment in Platinum

3 unchanged sentences

Platinum distributed

( 2,042.981 )

Change in unrealized appreciation (depreciation)

Ending balance as of September 30, 2024

in ounces of platinum and their respective values for the year ended June 30, 2024.

Ending balance as of December 31, 2024

in ounces of platinum and their respective values for the fiscal year ended June 30, 2024:

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

46 unchanged sentences

and expenses incurred by the indemnified party in investigating or defending itself against any such loss, liability or expense or any

claim therefor.

claim therefore.

In addition, the Sponsor may, in its sole discretion, undertake any action that it may deem necessary or desirable in

7 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