PPLT — what changed in the latest 10-Q
A section-by-section comparison of PPLT'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 · 2025-11-07
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +8 | −5 | ~2 | 14 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~3 | 0 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | 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): Legal proceedings
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
On April 22, 2026, the Sponsor announced a 10-for-1 forward share split (the "Split") of the Shares issued by the Trust.
The Split will apply to shareholders of record as of the close of the markets on May 14, 2026, and will be payable after the close of the markets on May 15, 2026. The Split will be effective prior to the market open on May 18, 2026, when the Shares of the Registrant will trade at their post-Split pr…
The Split will decrease the price per Share of the Trust with a proportionate increase in the number of Shares outstanding. In the Split, shareholders will receive ten post-Split-Shares for every Share held of record as of the close of the markets on May 14, 2026. The post-Split Shares will be price…
The NAV per Share decreased 6.01% from $184.11 at December 31, 2025 to $173.05 at March 31, 2026. The Trust’s NAV per Share fell slightly more than the price per ounce of platinum on a percentage basis due to the Sponsor’s Fee, which was $4,357,955 for the quarter, or 0.60% of the Trust’s ANAV on an…
The decrease in net assets from operations for the quarter ended March 31, 2026 was $184,201,736, resulting from a change in unrealized loss on investment in platinum of $403,019,657 and the Sponsor’s Fee of $4,357,955, offset by a realized gain of $1,887,245 on the transfer of platinum to pay expen…
Text removed vs the prior filing · source: 10-Q · 2025-11-07
The NAV per Share increased 16.20% from $122.99 at June 30, 2025 to $142.91 at September 30, 2025. The Trust’s NAV per Share rose slightly less than the price per ounce of platinum on a percentage basis due to the Sponsor’s Fee, which was $2,525,979 for the quarter, or 0.60% of the Trust’s ANAV on a…
The increase in net assets from operations for the quarter ended September 30, 2025 was $259,371,488, resulting from a realized gain of $586,649 on the transfer of platinum to pay expenses, a realized gain of $50,847,502 on platinum distributed for the redemption of Shares, and a change in unrealize…
The NAV per Share increased 71.11% from $83.52 at December 31, 2024 to $142.91 at September 30, 2025. The Trust’s NAV per Share rose slightly less than the price per ounce of platinum on a percentage basis due to the Sponsor’s Fee, which was $5,912,756 for the period, or 0.60% of the Trust’s ANAV on…
The NAV per Share of $144.55 at September 29, 2025 was the highest during the period, compared with a low of $83.52 at January 1, 2025.
The increase in net assets from operations for the period ended September 30, 2025 was $746,533,880, resulting from a realized gain of $589,322 on the transfer of platinum to pay expenses, a realized gain of $49,692,082 on platinum distributed for the redemption of Shares, and a change in unrealized…
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