Gold Fund Holdings Update - April 2022
and Attribution Analysis
This report details the most recent portfolio holdings for Precious Metal Managed Funds and summarizes changes in portfolio holdings.
Gold & Precious Metal Funds included in this report:
Domicile |
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Fund Name |
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Fund Fees |
Holdings Report |
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Funds Reporting Monthly |
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USA |
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Fidelity Select Gold |
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Summary |
Feb, 2022 |
USA |
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Franklin Gold & Precious Metals Fund |
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Summary |
Mar, 2022 |
USA |
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VanEck International Investors Gold Fund |
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Summary |
Mar, 2022 |
USA |
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VanEck VIP Global Gold Fund |
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Summary |
Mar, 2022 |
USA |
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USAA Precious Metals and Minerals Fund |
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Summary |
Mar, 2022 |
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Funds Reporting Annually / Semi Annually |
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USA |
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First Eagle Gold Fund |
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Summary |
Dec, 2021 |
USA |
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Invesco Gold & Special Minerals Fund |
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Summary |
Dec, 2021 |
USA |
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EuroPacific Gold Fund |
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Summary |
Oct, 2021 |
USA
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Precious Metals UltraSector ProFund
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Summary
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Dec, 2021
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Canada |
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RBC Global Precious Metals Fund |
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Summary |
Dec, 2021 |
Canada |
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CI Precious Metals Fund |
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Summary |
Dec, 2021 |
Canada |
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CI Gold Corporate Class |
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Summary |
Dec, 2021 |
Canada |
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CI Precious Metals Private Trust |
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Summary |
Dec, 2021 |
Canada |
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NBI Precious Metals Fund |
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Summary |
Dec, 2021 |
Canada |
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CIBC Precious Metals Fund |
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Summary |
Dec, 2021 |
Canada
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TD Precious Metals Fund
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Summary
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Dec, 2021
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Luxembourg
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Claresco Or et Métaux Précieux
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Summary
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Dec, 2021
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UK
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LF Ruffer Gold Fund
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Summary
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Sep, 2021
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Bermuda
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ASA Gold & Precious Metals Limited
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Summary
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Feb, 2022
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Austria |
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AMUNDI Gold Stock |
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Summary |
Oct, 2021 |
ATTRIBUTION ANALYSIS:
A portfolio holding ‘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 ‘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.
ATTRIBUTION FOR FUNDS REPORTING MONTHLY AND FUNDS WITH ASSETS > $1BILLION USD
First Eagle Gold (Jan 2022) |
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Invesco Gold & Special Minerals Fund (Jan 2022) |
Added |
Dropped |
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Added |
Dropped |
No new names |
Kirkland Lake Gold Ltd.(acquired) |
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Capricorn Metals |
IGO Ltd |
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Anglogold Ashanti |
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Falcon Metals |
Canada Silver Cobalt Works Inc |
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Firefinch Ltd |
Great Bear Resources Inc.(acquired) |
Fidelity Select Gold (Feb 2022) |
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Pilbara Minerals |
New Found Gold Corp |
Added |
Dropped |
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Lithium America Corp. |
Pretium Resources Inc |
Freeport-McMoRan Inc |
Kirkland Lake Gold Ltd.(acquired) |
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Pretium Resources Inc |
Gran Colombia Gold Corp |
Osisko Development Corporate |
Endeavour Mining PLC |
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Cameco Corp |
Somberero Resources |
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Tronox Holdings plc |
Tier One Silver |
Franklin Gold & Precious Metals Fund (Mar 2022) |
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Anaconda Mining |
Added |
Dropped |
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Canterra Gold |
Bonterra Resources Inc |
Pretium Resources Inc |
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Coppernico Metals |
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Gangfeng Lithium Co Ltd |
PORTFOLIO ATTRIBUTION COMMENTS:
Fidelity Select Gold Fund has taken a new position in Osisko Development Corp. (TSX-V: ODV). Osisko Development Corp. has recently completed a 3:1 consolidation and has a new emphasis on dilution control and cash flow development with several near-term production projects in the pipeline. The company has also recently completed acquisition of the high-grade gold producing Trixie Mine property in the Tintic Mining District of Utah, which will advance its profitable production profile.
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.
Most gold fund portfolios have minimal exposure to Russian sanctions. Russian gold refineries have been suspended from London’s gold market, the world’s largest, suggesting that the supply of gold may become more constrained as demand is increasing.
A complete list of Precious Metal Managed Funds and their respective portfolio holdings can be found at:
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