GraniteShares Platinum Trust Files 2024 10-K
Ticker: PLTM · Form: 10-K · Filed: Aug 15, 2024 · CIK: 1690842
| Field | Detail |
|---|---|
| Company | Graniteshares Platinum Trust (PLTM) |
| Form Type | 10-K |
| Filed Date | Aug 15, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $34,919,057, $43,119,275, $100,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-K, platinum, trust-filing
Related Tickers: PLTM
TL;DR
GraniteShares Platinum Trust 2024 10-K is out. Platinum holdings detailed.
AI Summary
GraniteShares Platinum Trust filed its 10-K for the fiscal year ending June 30, 2024. The trust, incorporated in New York, reported its financial activities and holdings. The filing details the trust's platinum holdings and fair value inputs as of June 30, 2024, and June 30, 2023.
Why It Matters
This filing provides investors with a comprehensive overview of the GraniteShares Platinum Trust's financial performance and asset valuation for the fiscal year, crucial for understanding the trust's stability and investment potential.
Risk Assessment
Risk Level: low — This is a standard annual financial filing for a trust, not indicating any immediate operational or financial distress.
Key Numbers
- 2024-06-30 — Fiscal Year End (Reporting period for the 10-K)
- 2023-06-30 — Previous Fiscal Year End (Comparative data point)
Key Players & Entities
- GraniteShares Platinum Trust (company) — Filer of the 10-K
- 2024-06-30 (date) — End of the reporting period
- 2023-06-30 (date) — Previous fiscal year end
- New York (location) — State of incorporation
FAQ
What is the total value of platinum held by the trust as of June 30, 2024?
The filing indicates platinum holdings (PLTM:PlatinumMember) as of June 30, 2024, but the specific dollar value is not provided in this excerpt.
What were the trust's total assets under management for the fiscal year ending June 30, 2024?
The provided text does not explicitly state the total assets under management for the fiscal year ending June 30, 2024.
What is the primary business activity of GraniteShares Platinum Trust?
GraniteShares Platinum Trust is involved with platinum holdings, as indicated by the 'PLTM:PlatinumMember' tags and its classification.
When was the GraniteShares Platinum Trust incorporated?
The trust was incorporated in New York (NY).
What are the different levels of fair value inputs reported for the platinum holdings?
The filing reports fair value inputs categorized as Level 1, Level 2, and Level 3 for the platinum holdings as of June 30, 2024, and June 30, 2023.
Filing Stats: 4,720 words · 19 min read · ~16 pages · Grade level 13.7 · Accepted 2024-08-15 16:30:20
Key Financial Figures
- $34,919,057 — ares at redeemable value increased from $34,919,057, at June 30, 2023 to $43,119,275, at Ju
- $43,119,275 — d from $34,919,057, at June 30, 2023 to $43,119,275, at June 30, 2024, the Trust's fiscal y
- $100,000 — osts, audit fees and expenses and up to $100,000 per annum in legal fees and expenses.
Filing Documents
- form10-k.htm (10-K) — 798KB
- ex31-1.htm (EX-31.1) — 13KB
- ex31-2.htm (EX-31.2) — 9KB
- ex32-1.htm (EX-32.1) — 5KB
- ex32-2.htm (EX-32.2) — 7KB
- form10-k_001.jpg (GRAPHIC) — 27KB
- form10-k_002.jpg (GRAPHIC) — 24KB
- fin_001.jpg (GRAPHIC) — 34KB
- 0001493152-24-032635.txt ( ) — 2510KB
- pltm-20240630.xsd (EX-101.SCH) — 18KB
- pltm-20240630_cal.xml (EX-101.CAL) — 14KB
- pltm-20240630_def.xml (EX-101.DEF) — 34KB
- pltm-20240630_lab.xml (EX-101.LAB) — 121KB
- pltm-20240630_pre.xml (EX-101.PRE) — 88KB
- form10-k_htm.xml (XML) — 200KB
Business
Item 1. Business 1 Trust Objective 1 Overview of the platinum industry 2 Operation of the platinum market 4 Secondary Market Trading 5 Valuation of Platinum; Computation of Net Asset Value 6 Trust Expenses 6 Deposit of Platinum; Issuance of Baskets 7 Redemption of Baskets 8 Fees and Expenses of the Trustee 8 The Sponsor 9 The Trustee 9 The Custodian 10 Inspection of Platinum 11 Description of the Shares 11 Custody of the Trust's Platinum 12 United States Federal Income Tax Consequences 12 ERISA and Related Considerations 16
Risk Factors
Item 1A. Risk Factors 17
Unresolved Staff Comments
Item 1B. Unresolved Staff Comments 26
Properties
Item 2. Properties 26
Legal Proceedings
Item 3. Legal Proceedings 26
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 26 PART II 27
Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 27
Selected Financial Data
Item 6. Selected Financial Data 28
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 28
Quantitative and Qualitative Disclosures about Market Risk
Item 7A. Quantitative and Qualitative Disclosures about Market Risk 31
Financial Statements and Supplementary Data (Unaudited)
Item 8. Financial Statements and Supplementary Data (Unaudited) 31
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 33
Controls and Procedures
Item 9A. Controls and Procedures 33
Other Information
Item 9B. Other Information 33 PART III 34
Directors, Executive Officers and Corporate Governance
Item 10. Directors, Executive Officers and Corporate Governance 34
Executive Compensation
Item 11. Executive Compensation 34
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 35
Certain Relationships and Related Transactions, and Director Independence
Item 13. Certain Relationships and Related Transactions, and Director Independence 35
Principal Accounting Fees and Services
Item 14. Principal Accounting Fees and Services 35 PART IV 36
Exhibits, Financial Statement Schedules
Item 15. Exhibits, Financial Statement Schedules 36
Form 10-K Summary
Item 16. Form 10-K Summary 36
Signatures
Signatures 37 PART I Item 1. Business The purpose of the GraniteShares Platinum Trust (the "Trust") is to own platinum transferred to the Trust in exchange for shares issued by the Trust ("Shares"). Each Share represents a fractional undivided beneficial interest in and ownership of the Trust. The assets of the Trust consist solely of platinum bullion. The Trust was formed on January 11, 2018 when an initial deposit of platinum was made in exchange for the issuance of two Baskets (a "Basket" consists of 50,000 Shares). The sponsor of the Trust is GraniteShares LLC (the "Sponsor"). The trustee of the Trust is The Bank of New York Mellon (the "Trustee") and the custodian is ICBC Standard Bank Plc (the "Custodian"). The Trust's Shares at redeemable value increased from $34,919,057, at June 30, 2023 to $43,119,275, at June 30, 2024, the Trust's fiscal year end. The Outstanding Shares in the Trust increased from 4,000,000 Shares on June 30, 2023 to 4,400,000 Shares on June 30, 2024. The Trust is not managed like a corporation or an active investment vehicle. The Trust has no directors, officers or employees. It does not engage in any activities designed to obtain a profit from or to improve the losses caused by changes in the price of platinum. The platinum held by the Trust will only be delivered to pay the remuneration due to the Sponsor (the "Sponsor's Fee"), distributed to Authorized Participants (defined below) in connection with the redemption of Baskets or sold (1) on an as-needed basis to pay Trust expenses not assumed by the Sponsor, (2) in the event the Trust terminates and liquidates its assets, or (3) as otherwise required by law or regulation. 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. The Trust does not and will not hold or trade in commodities futures contracts, "commodity interests" or any other instruments regulated by the Commodity Exchange