PPLT posts $400.7M net loss as platinum falls 22.7% and investors redeem 30.6M shares

Filed August 7, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 7, 2025 · ~1 min read

Key Changes

• high

  Net loss of $400.7M for the six months ended June 30, 2026, driven by a $493M unrealized loss on platinum holdings as the metal's price fell 22.7% (from $2,027 to $1,567 per ounce).

  MD&A: NAV Performance verify on EDGAR →
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  NAV declined 38% over the six-month period (from $2.86B to $1.77B) and 26% in Q2 alone, reflecting both the platinum price drop and heavy net redemptions of 30.6M shares (611 Baskets) for the half.

  MD&A: Six-Month NAV verify on EDGAR →
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  Q2 2026 saw net redemptions of 13.6M shares (271 Baskets net), reducing outstanding shares by 9.8%, versus net creations of 1.4M shares in Q2 2025—a reversal signaling investor outflows during the price decline.

  MD&A: Share Activity verify on EDGAR →