Company: FGDL
Filing Date: 2025-02-12
Form Type: 10-Q
Source: 0001140361-25-004056
Chunk: 11

Company: Franklin Templeton Holdings Trust
Filing Date: 2025-02-12
Form: 10-Q
Item: Part I, Item 2
Chunk 11
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979.70 at March 31, 2023.

The change in
net assets from operations for the nine months ended December 31, 2023 was
$1,885,023, which was due to (i) the Sponsor Fee of $(89,459), (ii) net
realized gain from gold distributed for the redemption of shares and sold to
pay expenses of $4,786,535 and (iii) a net change in unrealized appreciation
(depreciation) on investment of gold of $(2,812,053). Other than the Sponsor
Fee the Fund had no expenses during the nine months ended December 31, 2023.

Liquidity and 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 Marketing Agent, 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 and
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