PLTM — what changed in the latest 10-Q
A section-by-section comparison of PLTM's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-08 vs the prior 10-Q · 2026-02-04
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +4 | −4 | ~3 | 8 |
| Controls & procedures | No paragraph-level changes | 0 | 0 | 0 | 2 |
| Risk factors | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Market risk (Item 3), Legal proceedings, Other information
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-08
The Trust’s net asset value decreased from $233,824,339 on December 31, 2025 to $220,738,196 on March 31, 2026, a 5.60% decrease. The Trust’s net asset value decreased due to the negative change in the price of platinum, which moved from $2,027.00 on December 31, 2025 to $1,908.00 on March 31, 2026,…
The 6.00% decrease in the Trust’s net asset value per share, from $19.49 on December 31, 2025, to $18.32 on March 31, 2026, is directly related to the 5.87% decrease in the price of platinum.
The Trust’s net asset value per share decreased more than the price of platinum on a percentage basis due to the Sponsor’s fees, which were $351,389 for the quarter, or 0.123% of the Trust’s average weighted net assets of $284,883,201 during the quarter. The net asset value per share of $27.02 on Ja…
The net decrease in net assets resulting from operations for the quarter ended March 31, 2026, was $25,689,957, resulting from an unrealized loss on investment in platinum bullion of $35,376,043, decreased by a gain of $10,037,475 on metal sold to cover the redemption orders and the Sponsor’s fees a…
Text removed vs the prior filing · source: 10-Q · 2026-02-04
The 28.9% increase in the Trust’s net asset value per share from $15.12 on September 30, 2025, to $19.49 on December 31, 2025, is directly related to the 29.0% increase in the price of platinum.
The Trust’s net asset value per share increase slightly less than the price of platinum on a percentage basis due to the Sponsor’s fees, which were $194,905 for the period, or 0.13% of the Trust’s average weighted net assets of $154,675,188 during the period. The net asset value per share of $22.06 …
The net increase in net assets resulting from operations for the quarter ended December 31, 2025, was $39,182,189, resulting primarily from an unrealized gain on investment in platinum bullion of $38,888,573, increased by a gain of $488,521 on metal sold to cover redemption orders and Sponsor’s fees…
The 49.8% increase in the Trust’s net asset value per share from $13.01 on June 30, 2025, to $19.49 on December 31, 2025, is directly related to the 50.1% increase in the price of platinum.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice