SEC Filing Summary: Form 13F-HR
Business Context and Reporting Period
This filing is a Form 13F Holdings Report submitted by ASA Limited, an institutional investment manager, for the quarter ended September 30, 2010. The report was signed by Rodney D. Yee on October 22, 2010. The filing details the manager's equity and debt securities holdings, which are heavily concentrated in the gold and precious metals sector.
Key Financial Metrics
As a 13F filing, this document reports portfolio holdings rather than the operating financials of the manager itself. Key metrics include:
- Total Portfolio Value: $382,957,000 (reported as $382,957 in thousands).
- Total Number of Holdings: 17 distinct securities.
- Asset Class: Primarily common stock (COM) and one preferred security (PRN) within the mining and precious metals industry.
- Voting Authority: The manager holds sole voting authority for all reported positions.
Material Changes and Portfolio Composition
The filing does not provide comparative data against the prior quarter to determine material changes in position size. However, the current portfolio composition reveals significant exposure to major mining entities:
- Largest Holdings by Value: Randgold ADR ($60.3M), Barrick Gold Corp ($60.2M), and Agnico-Eagle Mines Ltd ($37.3M).
- Debt Exposure: The portfolio includes a $11.3M position in NovaGold Note 5.5% due 5/0.
- Commodity Exposure: Direct exposure to palladium and platinum via ETFs (ETFS Palladium Trust and ETFS Platinum Trust).
Guidance, Risks, and Commentary
Form 13F filings are statutory disclosures of holdings and do not contain management guidance, forward-looking outlooks, or commentary on risks and contingencies. The filing text does not provide a clear value for any operational risks or future strategic plans of ASA Limited.
Investor Verification Checklist
- Verify the total portfolio value of $382.96M against the sum of individual security values listed.
- Confirm the concentration risk, as the top three holdings (Randgold, Barrick, Agnico-Eagle) represent approximately 45% of the total reported value.
- Check the specific CUSIP numbers for the NovaGold Note to confirm the debt instrument details.
- Review subsequent 13F filings to track changes in the 17 reported positions.