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, 2007. The report details the manager's holdings in equity securities as of the quarter-end date. The filing was signed by Robert J.A. Irwin on February 13, 2008.
Key Financial Metrics
The filing reports the following aggregate metrics for the portfolio:
- Total Portfolio Value: $315,171,000
- Total Number of Holdings: 10
- Number of Other Included Managers: 0
Note: As a Form 13F, this document discloses holdings and voting authority but does not report revenue, profit, cash flow, margins, debt, or liquidity metrics for the reporting manager itself.
Top Holdings by Value
| Issuer | Shares | Value ($000s) | Voting Authority |
|---|---|---|---|
| Compania de Minas Buenaventura (ADR) | 900,000 | 50,940 | Sole |
| Goldcorp Inc. | 1,500,000 | 50,895 | Sole |
| Randgold Resources Limited (ADR) | 1,450,000 | 53,839 | Sole |
| Barrick Gold Corporation | 1,125,000 | 47,306 | Sole |
| Agnico-Eagle Mines Limited | 700,000 | 38,241 | Sole |
Material Changes and Portfolio Composition
The filing does not provide comparative data against the prior quarter (September 30, 2007); therefore, material changes in holdings cannot be determined from this document alone. The portfolio is heavily concentrated in the precious metals and mining sector, with 100% of the reported holdings consisting of gold mining companies or gold-related exchange-traded products (streetTRACKS Gold Shares).
Guidance, Outlook, and Risks
This filing contains no management commentary, forward-looking guidance, risk factors, or discussion of contingencies. Form 13F reports are strictly factual disclosures of holdings and do not include narrative analysis or outlooks.
Investor Verification Checklist
- Verify the total portfolio value of $315.2 million against the sum of individual holding values to ensure accuracy.
- Confirm the concentration risk, as the entire portfolio is exposed to the gold and precious metals mining sector.
- Check subsequent filings (e.g., Q1 2008) to determine if these positions were maintained, increased, or liquidated.
- Validate the share counts for large positions (e.g., Randgold, Goldcorp) against public market data for the period to assess potential price discrepancies.