abrdn Precious Metals Basket ETF Trust
For the period ended Sep 30, 2024. Filed Nov 12, 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 12, 2024
GLTR$173.86-0.5%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2024-06-30; filed 2024-08-09.
0001999371-24-009837
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2024-09-30; filed 2024-11-12.
0001999371-24-014549
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 31 previous paragraphs and 31 current paragraphs.
22 unchanged; 8 reworded; 1 added; 1 removed; 0 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.
Added paragraphs (1)
Current report
The Nine Months Ended September 30, 2024
Removed paragraphs (1)
Previous report
The Six Months Ended June 30, 2024
Reworded paragraphs (8)
Previous wording
The Trust’s NAV increased from $941,863,819 at March 31, 2024 to $991,167,633 at June 30, 2024, a 5.23% increase for the quarter. The change in the Trust’s NAV resulted from an increase in the price per ounce of gold, silver, platinum and palladium in the proportions held by the Trust (the “Proportionate Price”), which rose 8.69% from $103.15 at March 31, 2024 to $112.11 at June 30, 2024 and a decrease in outstanding Shares, which fell from 9,900,000 Shares at March 31, 2024 to 9,600,000 Shares at June 30, 2024, as a result of 50,000 Shares (2 Baskets) being created and 350,000 Shares (14 Baskets) being redeemed. Effective June 18, 2024, the number of Shares that constitute a Basket decreased from 50,000 to 25,000. Accordingly, information prior to this change has been retroactively adjusted to conform with the change in Basket size.
Current wording
The Trust’s NAV increased from $991,167,633 at June 30, 2024 to $1,071,704,894 at September 30, 2024, a 8.13% increase for the quarter. The change in the Trust’s NAV resulted from an increase in the price per ounce of gold, silver, platinum and palladium in the proportions held by the Trust (the “Proportionate Price”), which rose 9.72% from $112.11 at June 3 to $123.01 at September 30, 2024 and a decrease in outstanding Shares, which fell from 9,600,000 Shares at June 30, 2024 to 9,475,000 Shares at September 30, 2024, as a result of 75,000 Shares (3 Baskets) being created and 200,000 Shares (8 Baskets) being redeemed.
Previous wording
The NAV per Share increased 8.52% from $95.14 at March 31, 2024 to $103.25 at June 30, 2024. The Trust’s NAV per Share rose slightly less than Proportionate Price on a percentage basis due to the Sponsor’s Fee, which was $1,498,511 for the quarter, or 0.60% of the Trust’s ANAV on an annualized basis.
Current wording
The NAV per Share increased 9.55% from $103.25 at June 30, 2024 to $113.11 at September 30, 2024. The Trust’s NAV per Share rose slightly less than Proportionate Price on a percentage basis due to the Sponsor’s Fee, which was $1,556,293 for the quarter, or 0.60% of the Trust’s ANAV on an annualized basis.
Previous wording
The NAV per Share of $108.75 at May 21, 2024 was the highest during the quarter, compared with a low of $95.14 at April 1, 2024.
Current wording
The NAV per Share of $115.84 at September 26, 2024 was the highest during the quarter, compared with a low of $101.61 at August 5, 2024.
Previous wording
The increase in net assets from operations for the quarter ended June 30, 2024 was $80,624,628, resulting from a realized gain of $281,205 on the transfer of Bullion to pay expenses, a realized gain of $8,044,075 on Bullion distributed for the redemption of Shares and an increase in unrealized gain on investment in Bullion of $73,797,859, offset by the Sponsor’s Fee of $1,498,511. Other than the Sponsor’s Fee, the Trust had no expenses during the quarter ended June 30, 2024.
Current wording
The increase in net assets from operations for the quarter ended September 30, 2024 was $93,020,254, resulting from a realized gain of $346,479 on the transfer of Bullion to pay expenses, a realized gain of $4,155,569 on Bullion distributed for the redemption of Shares and an increase in unrealized gain on investment in Bullion of $90,074,500, offset by the Sponsor’s Fee of $1,556,293. Other than the Sponsor’s Fee, the Trust had no expenses during the quarter ended September 30, 2024.
Previous wording
The Trust’s NAV increased from $958,830,648 at December 31, 2023 to $991,167,633 at June 30, 2024, a 3.37% increase for the period. The change in the Trust’s NAV resulted from an increase in the price per ounce of gold, silver, platinum and palladium in the proportions held by the Trust (the “Proportionate Price”), which rose 12.85% from $99.34 at December 31, 2023 to $112.11 at June 30, 2024 and a decrease in outstanding Shares, which fell from 10,450,000 Shares at December 31, 2023 to 9,600,000 Shares at June 31, 2024, as a result of 50,000 Shares (2 Baskets) being created and 900,000 Shares (36 Baskets) being redeemed. Effective June 18, 2024, the number of Shares that constitute a Basket decreased from 50,000 to 25,000. Accordingly, information prior to this change has been retroactively adjusted to conform with the change in Basket size.
Current wording
The Trust’s NAV increased from $958,830,648 at December 31, 2023 to $1,071,704,894 at September 30, 2024, a 11.77% increase for the period. The change in the Trust’s NAV resulted from an increase in the price per ounce of gold, silver, platinum and palladium in the proportions held by the Trust (the “Proportionate Price”), which rose 23.83% from $99.34 at December 31, 2023 to $123.01 at September 30, 2024 and a decrease in outstanding Shares, which fell from 10,450,000 Shares at December 31, 2023 to 9,475,000 Shares at September 30, 2024, as a result of 125,000 Shares (5 Baskets) being created and 1,100,000 Shares (44 Baskets) being redeemed. Effective June 18, 2024, the number of Shares that constitute a Basket decreased from 50,000 to 25,000. Accordingly, information prior to this change has been retroactively adjusted to conform with the change in Basket size.
Previous wording
The NAV per Share increased 12.53% from $91.75 at December 31, 2023 to $103.25 at June 30, 2024. The Trust’s NAV per Share rose slightly less than Proportionate Price on a percentage basis due to the Sponsor’s Fee, which was $2,875,309 for the period, or 0.60% of the Trust’s ANAV on an annualized basis.
Current wording
The NAV per Share increased 23.28% from $91.75 at December 31, 2023 to $113.11 at September 30, 2024. The Trust’s NAV per Share rose slightly less than Proportionate Price on a percentage basis due to the Sponsor’s Fee, which was $4,431,603 for the period, or 0.60% of the Trust’s ANAV on an annualized basis.
Previous wording
The NAV per Share of $108.75 at May 21, 2024 was the highest during the period, compared with a low of $85.65 at February 14, 2024.
Current wording
The NAV per Share of $115.84 at September 26, 2024 was the highest during the period, compared with a low of $85.65 at February 14, 2024.
Previous wording
The increase in net assets from operations for the period ended June 30, 2024 was $112,180,849, resulting from a realized gain of $413,897 on the transfer of Bullion to pay expenses, a realized gain of $12,119,709 on Bullion distributed for the redemption of Shares and an increase in unrealized gain on investment in Bullion of $102,522,552, offset by the Sponsor’s Fee of $2,875,309. Other than the Sponsor’s Fee, the Trust had no expenses during the period ended June 30, 2024.
Current wording
The increase in net assets from operations for the period ended September 30, 2024 was $205,201,103, resulting from a realized gain of $760,376 on the transfer of Bullion to pay expenses, a realized gain of $16,275,278 on Bullion distributed for the redemption of Shares and an increase in unrealized gain on investment in Bullion of $192,597,052, offset by the Sponsor’s Fee of $4,431,603. Other than the Sponsor’s Fee, the Trust had no expenses during the period ended September 30, 2024.