Business Context and Reporting Period
This Form 13F-HR filing is submitted by ASA Limited, an institutional investment manager, for the quarter ended September 30, 2009. The report discloses the manager's holdings in equity securities and other reportable assets as of the period end.
Key Financial Metrics
The filing provides aggregate portfolio data rather than operational financial metrics (revenue, profit, cash flow) for the issuer or the manager.
- Total Portfolio Value: $319,875,000
- Total Number of Holdings: 14
- Primary Sector Focus: Precious metals and mining (e.g., Barrick Gold, Newmont Mining, Goldcorp).
- Largest Holding by Value: Randgold Resources Limited ($50,293,000).
- Debt/Liquidity: Not applicable; this form reports equity and security holdings, not the balance sheet of the manager or the issuers.
Material Changes and Portfolio Composition
The filing lists 14 distinct positions. Notable holdings include:
- Equity Positions: Significant stakes in major miners including Barrick Gold Corporation ($47,375,000), Compania de Minas Buenaventura ($47,850,000), and Agnico-Eagle Mines Limited ($40,710,000).
- Debt Instrument: A holding in NovaGold Note ($11,324,000) with a principal amount of $15,000,000.
- Voting Authority: The manager reports "Sole" voting authority for all listed positions.
Note: As this is a quarterly snapshot, specific changes (buys/sells) compared to the prior quarter (June 30, 2009) cannot be calculated without the previous filing.
Guidance, Outlook, and Risks
The filing text does not provide management commentary, future guidance, risk factors, or contingencies. Form 13F is a regulatory disclosure of holdings and does not contain forward-looking statements or operational analysis.
Investor Verification Checklist
- Verify the total portfolio value of $319.9 million against the sum of individual position values.
- Confirm the concentration risk, as the portfolio is heavily weighted toward the precious metals sector.
- Check the specific share counts for the largest positions (e.g., 1,250,000 shares of Barrick Gold) to assess potential influence.
- Note the presence of a debt instrument (NovaGold Note) alongside equity holdings.