GraniteShares Platinum Trust
For the period ended Dec 31, 2024. Filed Feb 3, 2025.
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.
Dec 31, 2024 · Filed Feb 3, 2025
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 2024-09-30; filed 2024-11-08.
0001493152-24-044162
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2024-12-31; filed 2025-02-03.
0001493152-25-004701
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 22 previous paragraphs and 27 current paragraphs.
17 unchanged; 4 reworded; 4 added; 1 removed; 0 previous and 2 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.
Added paragraphs (4)
Current report
During the quarter the Trust’s net asset value increased by 9.5% from $41,914,842 on September 30, 2024, to $45,904,688 on December 31, 2024. The increase in the Trust’s net asset value was due to the increase in the number of Shares outstanding from 4,400,000 on September 30, 2024, to 5,200,000 on December 31, 2024, an 18.2% increase. The net 800,000 shares increase was the result of 20 creation orders and 4 redemption orders (50,000 shares per creation and redemption). The Trust’s net asset value was negatively affected by the price of platinum, which decreased 7.2% from $985.00 on September 30, 2024, to $914.00 on December 31, 2024.
Current report
The 7.4% decrease in the Trust’s net asset value per share from $9.53 at September 30, 2024 to $8.83 at December 31, 2024 is directly related to the 7.2% decrease in the price of platinum.
Current report
Six Months Ended December 31, 2024
Current report
The Trust’s net asset value increased by 6.5% from $43,119,274 on June 30, 2024, to $45,904,688 on December 31, 2024. The increase in the Trust’s net asset value was due to the increase in the number of Shares outstanding from 4,400,000 on June 30, 2024, to 5,200,000 on December 31, 2024, an 18.2% increase. The net 800,000 shares increase was the result of 20 creation orders and 4 redemption orders (50,000 shares per creation and redemption). The Trust’s net asset value was negatively affected by the price of platinum, which decreased 9.7% from $$1,012.00 on June 30, 2024, to $914.00 on December 31, 2024.
Removed paragraphs (1)
Previous report
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.
Reworded paragraphs (4)
Previous 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.
Current 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.
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 $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.
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 $55,648 for the period, or 0.13% of the Trust’s average weighted net assets of $44,156,625 during the period. The net asset value per share of $10.15 on October 29, 2024, was the highest during the period, compared with a low during the period of $8.80 on September 04, 2024.
Previous 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.
Current wording
The net decrease in net assets resulting from operations for the quarter ended December 31, 2024, was $3,386,561, resulting primarily from an unrealized loss on investment in platinum bullion of $3,173,113, increased by a loss of $157,800 on metal sold to cover redemption orders and Sponsor’s fees and by the Sponsor’s fees of $55,648. Other than the Sponsor’s fees the Trust had no expenses during the quarter.
Previous 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.
Current wording
The 9.9% decrease in the Trust’s net asset value per share from $9.80 on June 30, 2024, to $8.83 on December 31, 2024, is directly related to the 9.7% decrease in the price of platinum.
Rearranged current paragraphs (2)
Current report — wording carried from elsewhere
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 $107,444 for the period, or 0.25% of the Trust’s average weighted net assets of $42,627,725 during the period. The net asset value per share of $10.15 on October 29, 2024, was the highest during the period, compared with a low during the period of $8.80 on September 04, 2024.
Current report — wording carried from elsewhere
Net decrease in net assets resulting from operations for the six-month period ended December 31, 2024, was $4,590,994, resulting primarily from an unrealized gain on investment in platinum bullion of $4,322,212, increased by a loss of $161,338 on metal sold to cover redemption orders and Sponsor’s fees and by the Sponsor’s fees of $107,444. Other than the Sponsor’s fees the Trust had no expenses during the quarter.