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, 2013. The report was signed on April 30, 2013, by Rodney D. Yee, Chief Operating Officer, Chief Financial Officer & Treasurer. The filing represents a complete holdings report for the manager.
Key Financial Metrics
The filing discloses the following aggregate portfolio metrics:
- Total Portfolio Value: $265,063,000
- Total Number of Holdings: 16
- Investment Discretion: Sole discretion for all reported positions.
- Primary Sector Focus: Precious metals mining and related trusts (Gold, Silver, Platinum, Palladium, Copper).
Note: As a Form 13F, this document reports equity holdings and does not contain revenue, profit, cash flow, margin, debt, or liquidity data for the reporting manager itself.
Material Changes and Portfolio Composition
The filing lists 16 specific equity positions. The largest holdings by value are:
- Goldcorp Inc.: $39,764,000 (1,182,400 shares)
- Randgold Res Ltd ADR: $38,235,000 (444,700 shares)
- Barrick Gold Corp: $36,750,000 (1,250,000 shares)
- Agnico-Eagle Mines Ltd: $17,618,000 (429,300 shares)
- Tahoe Resources Inc.: $16,235,000 (923,200 shares)
The filing text does not provide comparative data for the prior period; therefore, material changes in holdings versus the previous quarter cannot be determined from this document alone.
Guidance, Outlook, and Risks
Guidance and Outlook: The filing text does not provide management commentary, future guidance, or outlook statements.
Risks and Contingencies: The filing does not disclose specific risk factors or contingencies. The portfolio is heavily concentrated in the mining sector, implying exposure to commodity price volatility, though this is inferred from the holdings list rather than stated in the text.
Unusual Items: No unusual items or restatements were indicated in the filing.
Key Facts for Investor Verification
- Verify the current market value of the top 5 holdings (Goldcorp, Randgold, Barrick, Agnico-Eagle, Tahoe) to assess current portfolio exposure.
- Confirm if the 16 holdings listed represent the entirety of the manager's equity portfolio or if other asset classes are held outside of Form 13F reporting requirements.
- Check subsequent filings to determine if the heavy concentration in gold and precious metals miners has shifted.
- Note that the total value of $265 million represents the value at the end of the reporting period (March 31, 2013) and may differ significantly from current valuations.