Twelve Points Dumps $9.7M in ASA Gold Shares

Fund manager trims position in precious metals-focused closed-end fund

Apr. 15, 2026 at 12:22am

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Twelve Points Wealth Management sold 143,737 shares of ASA Gold and Precious Metals Limited (ASA) during the first quarter of 2026, reducing its position in the precious metals-focused closed-end fund by $8.84 million. The sale was worth an estimated $9.71 million based on the average closing price for the quarter.

Why it matters

The sale represents a significant reduction in Twelve Points' exposure to the precious metals sector, as ASA was previously the fund's fourth-largest holding. The move comes as ASA is undergoing a strategic review that may result in structural or mandate changes, and the fund has recently increased its dividend distribution.

The details

According to a SEC filing, Twelve Points sold the 143,737 ASA shares during Q1 2026. The sale reduced the fund's ASA position from 6.4% to 4.33% of its 13F reportable assets under management. Top holdings as of March 31, 2026 include BIL, FLTR, IOO, and SRLN.

  • Twelve Points sold the ASA shares during the first quarter of 2026.
  • As of April 13, 2026, ASA shares were priced at $68.07, up 128.9% over the past year.

The players

Twelve Points Wealth Management

A fund manager that sold a significant portion of its position in ASA Gold and Precious Metals Limited.

ASA Gold and Precious Metals Limited

A closed-end fund that invests primarily in equities of companies involved in the exploration, mining, or processing of gold, silver, platinum, diamonds, and other precious minerals.

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What’s next

ASA Gold and Precious Metals Limited is undergoing a strategic review that may result in structural or mandate changes. Investors may wish to wait and see what happens within the fund's governance before choosing to change their position.

The takeaway

The sale by Twelve Points Wealth Management represents a shift in the fund manager's exposure to the precious metals sector, as ASA was previously a top holding. The move comes amid changes at ASA, including a recent dividend increase, that may signal a shift in the fund's priorities.