Company: FGDL
Filing Date: 2025-08-26
Form Type: POS AM
Source: 0001137439-25-001038
Chunk: 15

Company: Franklin Templeton Holdings Trust
Filing Date: 2025-08-26
Form: POS AM
Chunk 15
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 by the Sponsor to pay Fund expenses that are due regardless of the current gold prices. The Fund is not an actively managed investment and does not produce income that could be used to pay expenses. The Sponsor will make no attempt to buy or sell gold bullion to protect against or to take advantage of fluctuations in the price of gold. Therefore, the Fund’s gold bullion may be sold at a time when the gold price is low, which could result in a loss to the Fund. The price of gold may be affected by the sale of gold by exchange-traded funds (“ETFs”) or other exchange-traded vehicles tracking gold markets. Large redemptions of the securities of ETFs or other exchange-traded vehicles tracking gold markets, which represent a significant proportion of demand for physical gold bullion, could negatively affect gold bullion prices and the price and NAV of the value of the Fund’s Shares. Substantial sales of gold by the “official” sector could adversely affect the value of an investment in the Shares. The “official” sector (i.e., central banks, other governmental agencies and multi-lateral institutions) buy, sell and hold gold as part of their reserve assets. The official sector holds a significant amount of gold, most of which is held in vaults and is not bought, sold, leased, swapped or otherwise mobilized in the open market. In the event that future economic, political or social conditions or pressures require members of the official sector to liquidate their gold assets all at once or in an uncoordinated manner, the demand for gold might not be sufficient to accommodate the sudden increase in the supply of gold to the market. This could decrease the price of gold significantly, which would adversely affect an investment in the Fund. Geopolitical tensions or conflicts affecting significant gold producers could result in a decline in the price of gold and adversely affect the value of an investment in the Shares. Global or regional military conflicts or acts of aggression may negatively affect global expectations for economic growth, exacerbate inflationary pressures, disrupt trading markets and/or supply chains and result in protracted volatility, which could have an adverse effect on the value of the Fund’s investments. For example, in the aftermath of Russia’s invasion of Ukraine in February 2022, gold prices experienced increased volatility in the near term. The extent and duration of Russia’s military actions and the ultimate repercussions of such actions (including any potential escalation, retaliatory actions or countermeasures that may be taken by countries or entities subject to sanctions, including cyber attacks) are