Business Context and Reporting Period
This Form 13F-HR filing is submitted by ASA Limited, an institutional investment manager, for the quarter ended June 30, 2008. The report discloses the manager's holdings in equity securities and other reportable assets as of the reporting date.
Key Financial Metrics
The filing provides aggregate portfolio data rather than operational financial metrics (revenue, profit, cash flow) for the manager itself.
- Total Portfolio Value: $430,969,000
- Number of Holdings: 11 entries
- Primary Sector Focus: Precious metals mining and gold-related assets.
| Issuer | Security Type | Value ($000s) | Shares/Units |
|---|---|---|---|
| SPDR Gold Trust | Gold Shares | 91,400 | 1,000,000 |
| Goldcorp Inc. | Common Stock | 69,255 | 1,500,000 |
| Agnico-Eagle Mines Ltd. | Common Stock | 52,059 | 700,000 |
| Barrick Gold | Common Stock | 51,188 | 1,125,000 |
| Randgold Resources Ltd. | ADR | 50,553 | 1,094,700 |
| Compania de Minas Buenaventura | ADR | 47,687 | 729,500 |
| Newmont Mining Corp. | Common Stock | 27,142 | 520,368 |
| Kinross Gold Corp. | Common Stock | 17,708 | 750,000 |
| NovaGold Resources Inc. | Note | 15,020 | 15,000,000 |
| Harmony Gold Mining Co. | ADR | 6,163 | 503,100 |
| NovaGold Resources Inc. | Common Stock | 2,794 | 375,000 |
Material Changes
The filing text does not provide comparative data from the prior quarter (March 31, 2008) or year-over-year figures. Consequently, material changes in holdings, value, or strategy cannot be determined from this document alone.
Guidance, Outlook, and Risks
Form 13F filings are statutory disclosure documents and do not contain management commentary, forward-looking guidance, or risk factors. The filing indicates that ASA Limited holds sole voting authority for all reported positions. No unusual items or contingencies are disclosed in this report.
Investor Verification Checklist
- Verify the current market price of the top holdings (SPDR Gold Trust, Goldcorp, Agnico-Eagle) to assess current portfolio valuation versus the June 30, 2008 snapshot.
- Confirm the status of the NovaGold Resources Note ($15.02M value), as debt instruments in mining firms carry distinct credit risks compared to equity.
- Review subsequent 13F filings to determine if the manager maintained this heavy concentration in the precious metals sector or diversified.
- Note that the filing represents holdings as of June 30, 2008, and does not reflect any trading activity occurring after that date.