GraniteShares Platinum Trust
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 8, 2024
PLTM$14.66+0.4%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2024-03-31; filed 2024-05-08.
0001493152-24-018269
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2024-09-30; filed 2024-11-08.
0001493152-24-044162
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 27 previous paragraphs and 22 current paragraphs.
17 unchanged; 5 reworded; 0 added; 3 removed; 2 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Removed paragraphs (3)
Previous report
Nine Months Ended March 31, 2024
Previous report
The Trust’s net asset value remained stable from $34,919,057 on June 30, 2023 to $36,494,022 on March 31, 2024, a 4.51% increase. The Trust’s number of shares outstanding increased from 4,000,000 to 4,150,000 over this period, or 3.75%. The 150,000 shares increase was the net result of 12 creations orders and 9 redemption orders (50,000 shares per creation and redemption order). The positive impact in number of shares outstanding was increased by the price of platinum, which increased 1.11% from $897.00 on June 30, 2023 to $907.00 on March 31, 2024.
Previous report
The 0.69% increase in the Trust’s net asset value per share, from $8.73 on June 30, 2023, to $8.79 on March 31, 2024 is directly related to the 1.11% increase in the price of platinum.
Reworded paragraphs (5)
Previous wording
On each business day, as soon as practicable after 4:00 p.m. (New York time), the Trustee evaluates the platinum held by the Trust and determines the net asset value of the Trust and the NAV. The Trustee values the platinum held by the Trust using that day’s LBMA Platinum Price PM. If there is no announced LBMA Platinum PM on a business day, the Trustee is authorized to use that day’s LBMA Platinum Price AM. Having valued the platinum held by the Trust, the Trustee then subtracts all accrued fees, expenses and other liabilities of the Trust from the value of the platinum and other assets of the Trust. The result is the net asset value of the Trust. The Trustee computes the NAV by dividing the net asset value of the Trust by the number of Shares outstanding on the date the computation is made.
Current wording
On each business day, as soon as practicable after 4:00 p.m. (New York time), the Trustee values the platinum held by the Trust and determines the net asset value of the Trust and the NAV. The Trustee values the platinum held by the Trust using that day’s LBMA Platinum Price PM. If there is no announced LBMA Platinum PM on a business day, the Trustee is authorized to use that day’s LBMA Platinum Price AM. Having valued the platinum held by the Trust, the Trustee then subtracts all accrued fees, expenses and other liabilities of the Trust from the value of the platinum and other assets of the Trust. The result is the net asset value of the Trust. The Trustee computes the NAV by dividing the net asset value of the Trust by the number of Shares outstanding on the date the computation is made.
Previous wording
The Trust’s net asset value decreased from $39,552,262 on December 31, 2023 to $36,494,022 on March 31, 2024, a 7.73% decrease. The Trust’s net asset value decreased was due to the negative change in the price of platinum, which moved from $1,006.00 on December 31, 2023 to $907.00 on March 31, 2024, or 9.84%. The impact of the change in platinum price was slightly reduced by a positive change in the number of shares outstanding from 4,050,000 to 4,150,000, or 2.47%. The 100,000 shares increase was the result of 2 creation orders (50,000 shares per creation order). There were no redemption orders during the period.
Current wording
The Trust’s net asset value decreased from $43,119,274 on June 30, 2024 to $41,914,842 on September 30, 2024, a 2.79% decrease. The Trust’s net asset value decreased due to the negative change in the price of platinum, which moved from $1,012.00 on June 30, 2024 to $985.00 on September 30, 2024, or -2.67%. There were no changes in the number of shares outstanding, which remained at 4,400,000.
Previous wording
The 10.03% decrease in the Trust’s net asset value per share, from $9.77 on December 31, 2023 to $8.79 on March 31, 2024 is directly related to the 9.84% decrease in the price of platinum.
Current wording
The 2.76% decrease in the Trust’s net asset value per share, from $9.80 on June 30, 2024 to $9.53 on September 30, 2024 is directly related to the 2.67% decrease in the price of platinum.
Previous wording
The Trust’s net asset value per share decreased slightly more than the price of platinum on a percentage basis due to the Sponsor’s fees, which were $45,152 for the quarter, or 0.13% of the Trust’s average weighted net assets of $ 36,334,436 during the quarter. The net asset value per share of $9.59 on January 2, 2024 was the highest during the quarter, compared with a low during the quarter of $8.45 on March 1, 2024.
Current wording
The Trust’s net asset value per share decreased slightly more than the price of platinum on a percentage basis due to the Sponsor’s fees, which were $51,796 for the quarter, or 0.5% of the Trust’s average weighted net assets of $41,072,902 during the quarter. The net asset value per share of $9.91 on July 05, 2024 was the highest during the quarter, compared with a low during the quarter of $8.80 on September 04, 2024.
Previous wording
The net decrease in net assets resulting from operations for the quarter ended March 31, 2024 was $3,925,152, resulting from an unrealized loss on investment in platinum bullion of $3,875,243, increased by a loss of $4,757 on metal sold to cover the redemption orders and the Sponsor’s fees and increased by the Sponsor’s fees of $45,152. Other than the Sponsor’s fees the Trust had no expenses during the quarter.
Current wording
The net decrease in net assets resulting from operations for the quarter ended September 30, 2024 was $1,204,433, resulting from an unrealized loss on investment in platinum bullion of $1,149,099, a loss of $3,538 on metal sold to cover redemption orders and Sponsor’s fees, and the Sponsor’s fees of $51,796. Other than the Sponsor’s fees the Trust had no expenses during the quarter.
Rearranged previous paragraphs (2)
Previous report — wording carried elsewhere
The 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 $137,311 for the period, or 0.376% of the Trust’s average weighted net assets of $36,555,394 during the period. The net asset value per share of $9.77 on December 29, 2023 was the highest during the period, compared with a low during the period of $8.26 on November 13, 2023.
Previous report — wording carried elsewhere
Net increase in net assets resulting from operations for the 9 months period ending March 31, 2024 was $598,465, resulting from an unrealized gain on investment in platinum bullion of $964,119, decreased by a loss of $228,343 on metal sold to cover the redemption orders and the Sponsor’s fees, and by the Sponsor’s fees of $137,311. Other than the Sponsor’s fees the Trust had no expenses during the quarter.