Company: FGDL
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001140361-25-030875
Chunk: 37

Company: Franklin Templeton Holdings Trust
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 Capital
Resources

The
Fund is not aware of any trends, demands, commitments, events or uncertainties
that are reasonably likely to result in material changes to its liquidity
needs. The Fund’s only ordinary recurring expense is the fee paid to the
Sponsor at an annual rate of 0.15% of the daily net asset value of the Fund.
The Sponsor’s annual fee accrues daily and is payable by the Fund monthly in
arrears. In exchange for the Sponsor’s fee, the Sponsor has agreed to assume
the ordinary fees and expenses incurred by the Fund, including but not limited
to the following: fees charged by the Administrator, the Custodian and the
Trustee, NYSE Arca listing fees, typical maintenance and transaction fees of
the DTC, SEC registration fees, printing and mailing costs, audit fees and
expenses, up to $500,000 per annum in legal fees and expenses and applicable
license fees. The Sponsor may determine in its sole discretion to assume legal
fees and expenses of the Fund in excess of the $500,000 per annum stipulated in
the Sponsor Agreement.

The
Sponsor is not required to pay any extraordinary or non-routine expenses.
Extraordinary expenses are fees and expenses which are unexpected or unusual in
nature, such as legal claims and liabilities and litigation costs or
indemnification or other unanticipated expenses. Extraordinary fees and
expenses also include material expenses which are not currently anticipated
obligations of the Fund. The Fund will be responsible for the payment of such
expenses to the extent any such expenses are incurred. Routine operational,
administrative and other ordinary expenses are not deemed extraordinary
expenses. The Fund will sell gold on an as-needed basis to pay the Sponsor’s
fee.

The
Administrator will, at the direction of the Sponsor, sell the Fund’s gold as
necessary to pay the Fund’s expenses not otherwise assumed by the Sponsor. When
selling gold to pay the Sponsor’s fee and other expenses, if any, the
Administrator endeavors to sell the exact amount of gold needed to pay expenses
to minimize the Fund’s holdings of cash. At June 30, 2025, the Trust and the
Fund did not have any cash balances.

Off-Balance Sheet Arrangements

At
June 30, 2025 and March 31, 2025, the Trust and the Fund did not have any
off-balance sheet arrangements.

Analysis of Movements
in the Price of