ASA
ASA Gold and Precious Metals LimitedFinancial Services·Asset Management
$64.25
$1.2B market cap
Revenue
$133.9M
Free Cash Flow
$0.0M
Rev Growth
+0.0%
FCF Margin
0.0%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
ASA Gold and Precious Metals Limited is a publicly owned investment manager. The firm invests in the public equity markets across the globe. It primarily invests in stocks of companies engaged in the exploration, mining or processing of gold, silver, platinum, diamonds, or other precious minerals. It also invests in exchange traded funds. The firm employs fundamental analysis with a bottom-up approach to create its portfolios. The firm obtains external research to complement its in-house researc
2-Year Price History
$59.54+224.8%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2025-Q4 | 134.0 | 441.1 | 444.3 | 441.1 | 0.0 | 0.0 | -0.0 | 4.1 | 0.0 | 18.8 | 248.6% | -- | -- |
Valuation & Metrics
Market Stats
Price$64.25
Market Cap$1.2B
Enterprise Value$1.2B
P/S Ratio9.1x
P/FCF--
EV/FCF--
FCF Margin (TTM)0.0%
FCF Yield0.0%
Dividend Yield (TTM)0.2%
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$133.9M
Net Income$441.1M
Free Cash Flow$0.0M
Revenue Growth (YoY)+0.0%
EBITDA Margin329.3%
Net Margin329.3%
FCF Margin0.0%
CapEx % of Revenue0.0%
SBC % of Revenue0.0%
ROIC248.6%
WC Change % Rev0.0%
Interest Coverage--
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares0.0M
Days to Cover1.0
Change (vs Prior)-46.7%
Need at least 2 settlement dates for chart
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
63.1%(+32.0% YoY)
73 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
0.0%(+0.0% YoY)
0 filers
Vanguard, iShares, SPDR
Market makers
0.3%(+0.3% YoY)
3 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| Saba Capital Management, L.P. | $366M | $31.76 | +$31.7M | +$164M | -6.1% | $3.09B |
| Sessa Capital IM, L.P. | $65.1M | $21.18 | +$0 | +$0 | -0.4% | $5.26B |
| MORGAN STANLEY | $55.3M | $28.94 | −$23.3M | −$29.0M | -0.3% | $1.65T |
| Almitas Capital LLC | $32.6M | $40.20 | +$8.9M | +$32.6M | +2.4% | $442M |
| Uncommon Cents Investing LLC | $25.8M | $14.57 | −$1.5M | −$7.4M | -0.1% | $431M |
| ROYAL BANK OF CANADA | $22.4M | $61.57 | +$20.1M | +$20.0M | -0.2% | $526.36B |
| RAYMOND JAMES FINANCIAL INC | $21.4M | $20.17 | −$7.4M | −$12.3M | -0.0% | $322.69B |
| Twelve Points Wealth Management LLC | $19.7M | $14.97 | −$8.9M | −$11.5M | -1.0% | $455M |
| SPROTT INC. | $12.4M | $24.41 | −$2.2M | −$5.0M | +1.7% | $3.29B |
| BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC | $9.0M | $24.15 | +$88K | +$1.8M | +0.1% | $696M |
| LANDSCAPE CAPITAL MANAGEMENT, L.L.C. | $8.7M | $29.78 | +$0 | +$8.7M | +1.9% | $1.57B |
| Cetera Investment Advisers | $8.1M | $27.58 | −$3.2M | −$3.6M | -0.2% | $93.23B |
| CAPSTONE INVESTMENT ADVISORS, LLC | $8.0M | $20.24 | −$1.3M | −$6.1M | +0.1% | $9.00B |
| Thomas J. Herzfeld Advisors, Inc. | $7.8M | $44.64 | −$524K | +$7.1M | -0.7% | $294M |
| ROYCE & ASSOCIATES LP | $6.6M | $14.57 | −$1.9M | −$4.0M | -0.9% | $10.09B |
| PEAPACK GLADSTONE FINANCIAL CORP | $6.4M | $12.44 | −$183K | −$1.1M | -0.2% | $7.72B |
| Private Advisor Group, LLC | $5.1M | $24.54 | −$138K | −$25K | -0.1% | $21.04B |
| Noble Wealth Management PBC | $4.6M | $51.19 | +$65K | +$4.6M | +0.1% | $195M |
| WOLVERINE ASSET MANAGEMENT LLC | $4.5M | $25.17 | +$4.1M | +$4.5M | +1.9% | $2.32B |
| WS MANAGEMENT LLLP | $4.3M | $14.57 | +$0 | −$3.2M | +0.3% | $764M |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BEARISH
Holders
-2.20%
avg per quarter
Holders (ex-self)
-3.08%
excl. this stock
Buyers (this Q)
-1.89%
26 buyers · $0.09B in
Sellers (this Q)
-0.17%
29 sellers · $0.04B out
alpha coverage: 100% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
+1.0%
how holders react when this stock falls
On quiet Qs
+12.7%
−10% to +10% baseline
On rallies (+10%+)
-9.3%
how they react when this stock rises
Holders' portfolio flow this Q
+4.1%
inflows — adds are organic
Sellers' portfolio flow this Q
+2.2%
Sellers grew AUM elsewhere — opinionated cut of this stock.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
+3.6%
Holder mid (any stock)
-5.1%
Holder rally (any stock)
-11.3%
Biggest decreases this quarter
MORGAN STANLEY−$23.3Mα-0.3Twelve Points Wealth Management LLC−$8.9Mα-1.0RAYMOND JAMES FINANCIAL INC−$7.4Mα-0.0Cetera Investment Advisers−$3.2Mα-0.2SPROTT INC.−$2.2Mα+1.7ROYCE & ASSOCIATES LP−$1.9Mα-0.9Uncommon Cents Investing LLC−$1.5Mα-0.1CAPSTONE INVESTMENT ADVISORS, LLC−$1.3Mα+0.1Thomas J. Herzfeld Advisors, Inc.−$524Kα-0.7Bay Colony Advisory Group, Inc d/b/a Bay Colony Advisorsexited−$342K
Top-5 holders · 74.5%
Saba Capital Management, L.P.--
Sessa Capital IM, L.P.--
MORGAN STANLEY--
Almitas Capital LLC--
Uncommon Cents Investing LLC--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
Saba Capital Management, L.P.5.9MMORGAN STANLEY891KLAZARD ASSET MANAGEMENT LLC—Sessa Capital IM, L.P.1.1MAlmitas Capital LLC526KCITY OF LONDON INVESTMENT MANAGEMENT CO LTD—Twelve Points Wealth Management LLC317KRAYMOND JAMES FINANCIAL INC345KUncommon Cents Investing LLC416KROYAL BANK OF CANADA361K
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Sells ($, 12mo)
$970K
3 txns · 1 insider · 13,855 sh
Major holders (≥10% beneficial owners)
Buys ($, 12mo)
$89.27M
90 txns · 1 insider · 1,708,781 sh
Sells ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-02-20 | SELL | Merk Alexander | officer: COO | 13,155 | $70.60 | $929K | $0 |
| 2026-02-19 | SELL | Merk Alexander | officer: COO | 200 | $70.60 | $14K | $929K |
| 2026-02-13 | BUY | Saba Capital Management, L.P. | 10 percent owner | 50,560 | $71.50 | $3.62M | $422.11M |
| 2026-02-12 | BUY | Saba Capital Management, L.P. | 10 percent owner | 83,533 | $69.69 | $5.82M | $407.91M |
| 2026-02-11 | BUY | Saba Capital Management, L.P. | 10 percent owner | 40,222 | $72.09 | $2.90M | $415.93M |
| 2026-02-10 | BUY | Saba Capital Management, L.P. | 10 percent owner | 62,201 | $71.10 | $4.42M | $407.36M |
| 2026-02-09 | BUY | Saba Capital Management, L.P. | 10 percent owner | 25,939 | $69.99 | $1.82M | $396.65M |
| 2026-02-06 | BUY | Saba Capital Management, L.P. | 10 percent owner | 15,796 | $65.91 | $1.04M | $371.81M |
| 2026-02-05 | BUY | Saba Capital Management, L.P. | 10 percent owner | 15,423 | $64.31 | $992K | $361.77M |
| 2026-02-04 | BUY | Saba Capital Management, L.P. | 10 percent owner | 6,788 | $66.45 | $451K | $372.79M |
| 2026-02-03 | BUY | Saba Capital Management, L.P. | 10 percent owner | 28,333 | $66.14 | $1.87M | $370.60M |
| 2026-02-02 | BUY | Saba Capital Management, L.P. | 10 percent owner | 8,466 | $64.27 | $544K | $358.30M |
| 2026-01-30 | BUY | Saba Capital Management, L.P. | 10 percent owner | 21,708 | $65.56 | $1.42M | $364.94M |
| 2026-01-29 | BUY | Saba Capital Management, L.P. | 10 percent owner | 17,075 | $74.59 | $1.27M | $413.58M |
| 2026-01-28 | BUY | Saba Capital Management, L.P. | 10 percent owner | 57,165 | $75.32 | $4.31M | $416.34M |
| 2026-01-27 | BUY | Saba Capital Management, L.P. | 10 percent owner | 3,730 | $73.15 | $273K | $400.17M |
| 2026-01-26 | BUY | Saba Capital Management, L.P. | 10 percent owner | 1,400 | $72.90 | $102K | $398.53M |
| 2026-01-20 | BUY | Saba Capital Management, L.P. | 10 percent owner | 3,723 | $66.08 | $246K | $361.15M |
| 2026-01-16 | BUY | Saba Capital Management, L.P. | 10 percent owner | 4,541 | $63.63 | $289K | $347.52M |
| 2026-01-15 | BUY | Saba Capital Management, L.P. | 10 percent owner | 4,654 | $63.35 | $295K | $345.71M |
Order Flow (FINRA, ~3w lag)
33.2%retail+0.8pp
20.0%dark-2.3pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.