Gold Fund Holdings Update – April 2022
and Attribution Analysis
This report details the most recent portfolio holdings forÂ Precious Metal Managed Funds and summarizes changes in portfolio holdings.
Gold & Precious Metal Funds included in this report:
A portfolio holding â€˜attribution analysis‘ is undertaken on the portfolios of every gold fund that reports full asset allocations monthly, and on any fund that reports with assets in excess of USD $1billion. The analysis includes a list of any companies which are new to a portfolio, and also a list of companies which have been completely sold from or â€˜dropped’ from a portfolio.
The summary below outlines which companies have been added, and are new, to a given portfolio and which companies have been sold from, and are no longer held by, a given portfolio.
|Â First Eagle Gold (Jan 2022)Â Â||Â Invesco Gold & Special Minerals Fund (Jan 2022)Â Â|
|No new names||Kirkland Lake Gold Ltd.(acquired)||Capricorn MetalsÂ||IGO Ltd|
|Anglogold Ashanti||Falcon MetalsÂ||Canada Silver Cobalt Works Inc|
|Firefinch LtdÂ||Great Bear Resources Inc.(acquired)|
|Â Fidelity Select Gold (Feb 2022)Â Â||Pilbara MineralsÂ||New Found Gold Corp|
|Added||Dropped||Lithium America Corp.Â||Pretium Resources Inc|
|Freeport-McMoRan Inc||Kirkland Lake Gold Ltd.(acquired)||Pretium Resources Inc||Gran Colombia Gold Corp|
|Osisko Development Corporate||Endeavour Mining PLC||Cameco CorpÂ||Somberero ResourcesÂ|
|Tronox Holdings plcÂ||Tier One SilverÂ|
|Â Franklin Gold & Precious Metals Fund (Mar 2022)Â Â||Anaconda MiningÂ|
|Bonterra Resources Inc||Pretium Resources Inc||Coppernico MetalsÂ|
|Gangfeng Lithium Co Ltd|
Invesco Gold & Special Minerals Fund has again had significant portfolio turnover. The Fund has increased its holding of Mineral Alamos, Inc. (TSX-V: MAI) having recently acquired an additional 1,900,00 shares. Minera Alamos continues to report on development and optimization of it’s Santana Gold Mine. The Fund has sold, or relocated, all of its holding in New Found Gold Corp. (TSX-V: NFG) which at October 31st, 2021 stood at 870,000 shares valued at $6,769,635 USD (January 31st,2022 – $0). The Fund sold its position in Ganfeng Lithium Co. Ltd. (SHE: GFL), which is listed in Shanghai and headquartered in China, and acquired a new holding in Lithium Americas Corp. (NYSE: LAC). This may be evidence of the growing trend towards resource nationalism.