Business Context and Reporting Period
This Form 13F-HR filing is submitted by ASA Limited, an institutional investment manager, for the reporting period ended December 31, 2008. The report discloses the manager's holdings in equity securities and certain other instruments as of the quarter-end date.
Key Financial Metrics
The filing reports the following aggregate metrics for the portfolio:
- Total Portfolio Value: $237,316,000
- Total Number of Holdings: 10
- Primary Sector Focus: Precious metals mining and gold-related assets.
Top Holdings by Value:
| Issuer | Value ($000s) | Shares/Principal |
|---|---|---|
| Randgold Resources Limited (ADR) | 48,079 | 1,094,700 |
| Goldcorp Inc. | 37,836 | 1,200,000 |
| Barrick Gold | 37,689 | 1,025,000 |
| Agnico-Eagle Mines Limited | 30,798 | 600,000 |
| Compania de Minas Buenaventura (ADR) | 29,063 | 1,459,000 |
Note: The filing does not provide data on revenue, profit, cash flow, margins, debt, or liquidity for the reporting manager or the underlying issuers.
Material Changes
The filing text does not provide comparative data for the prior period (September 30, 2008) or detail specific changes in holdings volume or value versus the previous quarter.
Guidance, Outlook, and Risks
Form 13F filings are statutory disclosure documents and do not contain management commentary, forward-looking guidance, risk factors, or contingency plans. The filing indicates that the manager has Sole voting and dispositive authority over all reported positions.
Investor Verification Checklist
- Verify the current market value of the top 5 holdings (Randgold, Goldcorp, Barrick, Agnico-Eagle, Buenaventura) to assess portfolio drift since Q4 2008.
- Confirm the status of the NovaGold Resources Inc. Note ($4,425,000 principal), as debt instruments in mining sectors carry distinct credit risks compared to equities.
- Review the concentration risk, as the top 3 holdings represent approximately 47% of the total reported portfolio value.
- Check for subsequent 13F filings to determine if these positions were maintained, increased, or liquidated in 2009.