Business Context and Reporting Period
This Form 13F-HR filing is submitted by ASA Gold & Precious Metals Ltd, an institutional investment manager, for the quarter ended March 31, 2012. The report was signed by Rodney D. Yee (COO, CFO & Treasurer) on May 3, 2012. The filing represents a complete holdings report with no other included managers.
Key Financial Metrics
The filing details the portfolio composition rather than the operating financials of the manager itself. Key portfolio metrics include:
- Total Portfolio Value: $287,801,000
- Total Number of Holdings: 16
- Investment Discretion: Sole discretion for all reported positions.
- Top Holdings by Value:
- Barrick Gold Corp: $54,350,000
- Goldcorp Inc.: $48,773,000
- Randgold Res Ltd: $43,524,000
- Compania de Minas Buenaventura: $36,642,000
- Newmont Mining Corp: $26,679,000
Material Changes
The filing text does not provide comparative data for the prior period (December 31, 2011) or specific transaction details (purchases/sales) required to calculate material changes in holdings or value.
Guidance, Outlook, and Risks
Form 13F filings are statutory reports of holdings and do not contain management commentary, forward-looking guidance, risk factors, or contingency disclosures. The portfolio is heavily concentrated in the precious metals and mining sector, including exposure to gold, silver, copper, platinum, and palladium equities and trusts.
Investor Verification Checklist
- Verify the current market value of the top 5 holdings (Barrick, Goldcorp, Randgold, Buenaventura, Newmont) to assess current portfolio exposure.
- Confirm the total number of shares held for each issuer against the reported share counts to ensure no subsequent trading activity has occurred.
- Review the specific CUSIP numbers provided to ensure the correct class of securities (e.g., ADRs vs. Common Stock) is identified.
- Note that the filing does not disclose short positions or derivatives other than the specific ETFs listed (Palladium and Platinum Trusts).