ASA Gold and Precious Metals : Monthly Factsheet February 2026
ASA
Published on 05/01/2026 at 02:53 pm EDT
Established in 1958, ASA Gold and Precious Metals Limited is a closed-end precious metals and mining fund (NYSE: ASA) registered with the United States Securities and Exchange Commission and domiciled in Bermuda. The Company is one of the oldest investment management firms focused on the precious metals and mining industry. ASA employs bottom-up fundamental analysis and relies on detailed primary research including meetings with company executives, site visits to key operating assets, and proprietary financial analysis in making its investment decisions.
0%
-5%
-10 %
-15 %
-20 %
-25 %
-30 %
Mar-0 8 Mar-0 9 Mar-1 0 Mar-1 1 Mar-1 2 Mar-1 3 Mar-1 4 Mar-1 5 Mar-1 6 Mar-1 7 Mar-1 8 Mar-1 9 Mar-2 0 Mar-2 1 Mar-2 2 Mar-2 3 Mar-2 4 Mar-2 5 Mar-2 6
Discount
12-week Moving Average
For the period 3/31/08 - 02/28/26
PERFORMANCE AS OF FEBRUARY 28, 2026
Average Annual Total Returns
1 Year
3 Years
5 Years
10 Years
15 Years
Inception
NAV
236.3%
77.1%
33.1%
23.5%
7.4%
10.2%
Share Price
233.6%
78.3%
34.2%
24.1%
7.0%
10.0%
Includes the reinvestment of dividends. Inception is from December 11, 1958, the date on which the Company's shares were listed for trading on the NYSE.
Ticker ASA
Net assets $1.722 Billion
NAV $92.94
Share price $81.29
Discount 12.53%
Adviser Merk Investments Portfolio Managers Peter Maletis
James Holman
CIO Axel Merk
ASA Gold & Precious Metals Limited c/o Apex Fund Services
3 Canal Plaza, Suite 600
Portland, Maine 04101
Website
https://www.asaltd.com
Toll-free
(800)432-3378
Dividends
Distributions
Semi-annual
11/19/25
$.03
05/14/25
$.03
11/20/24
$.02
05/16/24
$.02
Statistics
Beta1
0.96
R-squared2
0.81
1 Source: Bloomberg. Beta measures the Company's market-related risk over a three-year period relative to its benchmark, the NYSE Arca Gold Miners Total Return Index. A beta lower than 1 indicates historically lower volatility than the index; greater than 1 indicates higher volatility.
2 Source: Bloomberg. R-squared is a measure of the percentage of a company's share price movement that can be attributed to its benchmark index. It can range from 0 and 1; 1 indicates a perfect correlation.
All performance information reflects past performance and is presented on a total return basis. Past performance is no guarantee of future results. Current performance may differ from that shown. The Company concentrates in the gold and precious minerals sector. This sector may be more volatile than other industries and may be affected by movements in commodity prices triggered by international monetary and political developments. The Company is a non-diversified fund and, as such, may invest in fewer investments. ASA Gold and Precious Metals Limited may invest in smaller-sized companies that may be more volatile and less liquid than larger, more-established companies. Investments in foreign securities, especially those in the emerging markets, may involve increased risk as well as exposure to currency fluctuations. Shares of closed-end funds frequently trade at a discount. This document may contain statements regarding plans and expectations for the future that constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements involve risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those contemplated by the forward-looking statements. This document does not constitute an offer to sell or solicitation of an offer to buy any securities.
Certain Tax Information: ASA is a "passive foreign investment company" for United States federal income tax purposes. As a result, United States shareholders holding shares in taxable accounts are encouraged to consult their tax advisors regarding the tax consequences of their investment in the Company's common shares.
Not FDIC Insured | No Bank Guarantee | May Lose Value
On April 12, 2019, shareholders approved Merk Investments LLC ("Merk") as advisor to ASA. As a firm, Merk brings a long history of portfolio management of registered investment companies, and research that includes primary research on central banks and their impact on the price of gold. Portfolio Manager Peter Maletis joined Merk after 8 years at Franklin Templeton, where he was precious metals analyst. He spent much of his time at Franklin meeting with the management of gold companies from around the world as well as on due diligence site visits, where he developed an intimate understanding of the many companies in the precious metals sector. It is with that background that Peter is influencing changes to the ASA portfolio, also leveraging on the resources made available by Merk.
Website
Toll-free
www.asaltd.com
(800)432-3378
Primary Commodity
% of NAV
Gold
62.2%
Diversified Miners
31.9%
Silver
5.1%
Net Liquid Assets
0.8%
Platinum & Palladium
0.0%
Type
% of NAV
Mining Companies
59.8%
Exploration Companies
27.3%
Development Companies
9.5%
Royalty Companies
2.6%
Net Liquid Assets
0.8%
Stage of Development
% of NAV
Production < 500k ounces
51.2%
Exploration Companies
27.3%
Development Companies
9.5%
Production 500k - 1mm ounces
6.8%
Royalty Companies
2.6%
Production >1mm ounces
1.9%
Net Liquid Assets
0.8%
Country of Incorporation
% of NAV
Canada
88.8%
Australia
10.4%
Net Liquid Assets
0.8%
South Africa
0.0%
Type of Security
% of NAV
Equity Securities
93.9%
Convertible
3.2%
Warrants
1.8%
Net Liquid Assets
0.8%
Capitalization
% of NAV
Market Cap < $2bn
62.7%
Market Cap $2bn - $10bn
34.0%
Market Cap >$10bn
2.6%
Net Liquid Assets
0.8%
Holdings
Ticker
% of NAV
Americas Gold & Silver Corp
USAS
11.0%
G Mining Ventures Corp
GMIN CN
10.0%
Orla Mining Ltd
ORLA
7.8%
Equinox Gold Corp
EQX CN
5.3%
Robex Resources Inc
RBX CN
4.8%
Predictive Discovery
PDI AU
4.3%
Hemlo Mining Corp
HMMC CN
3.7%
Westgold Resources Ltd
WGX CN
3.0%
Discovery Silver Corp
DSV CN
2.6%
San Cristobal Mining
PRIVATE
2.6%
Thesis Gold Inc
TAU CN
2.5%
Atex Resources Inc
ATX CN
2.4%
Torex Gold Resources Inc
TXG CN
2.3%
Minera Alamos Inc
MAI CN
1.7%
Orla Mining Ltd Cvt
OLA CN
1.6%
Metalla Royalty & Streaming Ltd
MTA CN
1.6%
Gogold Resources Inc
GGD CN
1.5%
Blossom Gold Inc
BGAU CN
1.5%
Alamos Gold Inc
AGI
1.4%
American Ocean Minerals Corp Cvt
AOM CN
1.4%
Tolu Minerals
TOK CN
1.3%
Firefly Metals
FFM AU
1.2%
Agnico Eagle Mines Ltd
AEM
1.2%
Silver Tiger Metals
SLVR CN
1.0%
Magnetic Resources Nl
MAU AU
1.0%
Southwest Critical Minerals Llc
PRIVATE
0.9%
Liberty Gold Corp-Plc
LGD CN
0.8%
Guanajuato Silver Company Ltd
GSVR CN
0.8%
Versamet Royalties Corp
VMET CN
0.8%
Andean Precious Metals
APM CN
0.8%
Lahontan Gold Corp
LAHO CN
0.8%
Alicanto Minerals Ltd
AQI AU
0.8%
Andean Silver Ltd
ASL CN
0.8%
Net Cash Or Equivalent
Cash
0.8%
New Found Gold Corp
NFG CA
0.8%
G2 Goldfields Inc
GTWO
0.8%
B2Gold Corp
BTO CT
0.7%
Integra Resources Corp
ITR CN
0.7%
Orla Mining Ltd Wrnt
OLA CN
0.7%
Roxmore Resources Inc
RM CN
0.7%
Fuerte Metals
FMT CN
0.6%
Barton Gold Holdings
BGD AU
0.5%
Gold Candle Ltd
PRIVATE
0.5%
Minera Alamos Inc Wrnt
MAI CN
0.5%
Silver Mountain Resources Inc
AGMR CN
0.5%
Cygnus Metals
CY5 AU
0.4%
Midas Minerals Ltd
MM1 AU
0.4%
Rpx Gold Inc
RPX CN
0.4%
Cayenne Copper Limited
PRIVATE
0.4%
Tdg Gold Corp
TDG CN
0.3%
Pecoy Copper Limited
PCU CN
0.3%
Magna Mining Inc Cvt
NICU CN
0.3%
Evolve Royalties
EVR CN
0.3%
Newcore Gold Ltd
NCAU CN
0.2%
Bellavista Resources
BVRZZ AU
0.2%
Holdings
Ticker
% of NAV
Ongwe Minerals Inc
OGW CN
0.2%
Laurentian Mountain Resources
PRIVATE
0.2%
I-80 Gold Corp 8% Cvt
I80 CN
0.2%
Talisker Resources Ltd
TSK CN
0.2%
Getty Copper Inc
GTC CN
0.2%
Delta Lithium Ltd
DLI AU
0.2%
Geopacific Resources Ltd
GPR AU
0.2%
Q-Gold Resources Inc
QGR CN
0.2%
Lithium Africa Resources Corp
PRIVATE
0.1%
Tier One Silver Inc
TSLV CN
0.1%
Silver Mountain Resources Wrnt
AGMR CN
0.1%
Gogold Resources Inc Wrnt
GGD CN
0.1%
Ridgeline Minerals
RDG CN
0.1%
Atex Resources Inc Wrnt
ATX CN
0.1%
Stllr Gold Inc
STLR CN
0.1%
Nexus Minerals Limited
NXM AU
0.1%
Gorilla Gold Mines Ltd
GG8 AU
0.1%
South Pacific Metals Corp
SPMC CN
0.1%
Lahontan Gold Corp Wrnt
LAHO CN
0.1%
Sable Resources Ltd
SAE CN
0.1%
Castile Resources
CST AU
0.1%
Cartier Resources Inc
ECR CN
0.1%
Desert Gold Ventures Inc
DAU CN
0.1%
Ballard Mining Ltd
BM1 AU
0.1%
Westhaven Gold Corp
WHN CN
0.1%
Bunker Hill Mining Corp
BNKR CN
0.1%
Onyx Gold Corp
ONYX CN
0.1%
Emerita Resources
EMOT CN
0.1%
Signature Resources Ltd
SGU CN
0.0%
Prodigy Gold Nl
PRX AU
0.0%
Pan Global Resources
PGZ CN
0.0%
Guanajuato Silver Company Ltd Wrnt
GSVR CN
0.0%
Cartier Resources Inc Wrnt
ECR CN
0.0%
Max Resource Corp
MAX CN
0.0%
Bendito Resources Inc Cvt
PRIVATE
0.0%
Culico Metals Inc
CLCO CN
0.0%
Tier One Silver Inc Wrnt
TSLV CN
0.0%
Bendito Resources Inc
PRIVATE
0.0%
American Pacific Mining
USGD CN
0.0%
Pan American Silver Cvt
PAAS
0.0%
Rpx Gold Inc Wrnt
RPX CN
0.0%
Lcl Resources Ltd
LCL CN
0.0%
New Found Gold Corp Wrnt
NFG CA
0.0%
Angel Wing Metals Inc
AWM CN
0.0%
Lux Metals Corp
LXM CN
0.0%
Lithium Africa Resources Corp Wrnt
PRIVATE
0.0%
Ridgeline Minerals Wrnt
RDG CN
0.0%
Sua Holdings Limited
PRIVATE
0.0%
South Pacific Metals Corp Wrnt
SPMC CN
0.0%
Prodigy Gold Wrnt
PRX AU
0.0%
Ongwe Minerals Inc Wrnt
OGW CN
0.0%
Laurentian Mountain Resources Wrnt
PRIVATE
0.0%
Monarch Mining Corp
GBAR CN
0.0%
Signature Resources Ltd Wrnt
SGU CN
0.0%
Monarch Mining Corp Wrnt
GBAR CN
0.0%
Warrants and Convertible Securities (annotated as Wrnt and Cvt, respectively) may not be publicly traded; ticker symbols referenced may refer to to issuer of the respective Warrant or Convertible Security. References to 0.0% of NAV are non-zero amounts rounded to 0.0%. Please see other side for additional important disclosure.
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Disclaimer
ASA Gold and Precious Metals Limited published this content on May 01, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 01, 2026 at 18:52 UTC.