Insider buys: Saba Capital adds 205K ASA shares at ~$40.50

Rhea-AI Filing Summary

Saba Capital Management reported purchases of ASA Gold & Precious Metals Ltd common stock on 09/11/2025 and 09/12/2025. The filing shows two non-derivative acquisitions: 96,286 shares at $40.40 and 109,206 shares at $40.91, bringing indirect beneficial ownership to 4,516,387 shares. Transactions were filed on Form 4 and signed 09/15/2025.

Positive

• Large insider purchases: 96,286 shares on 09/11/2025 at $40.40 and 109,206 shares on 09/12/2025 at $40.91
• Increased beneficial ownership: Indirect holdings rose to 4,516,387 shares after the transactions
• Clear, timely reporting: Form 4 filed and signed on 09/15/2025 disclosing the transactions

Negative

• None.

Insights

Financial Analyst

TL;DR: Significant insider purchases totaling 205,492 shares at ~ $40.50, increasing indirect stake to 4.52M shares.

The reported purchases are material in size and show deliberate accumulation over two days. Acquisitions were non-derivative and executed at prices of $40.40 and $40.91, which signals conviction by the reporting entity. The ownership is recorded as indirect, indicating the stake is held through Saba Capital Management, L.P. No derivative transactions or dispositions were reported in this Form 4.

Corporate Governance Expert

TL;DR: Large indirect purchases by a named reporting person suggest active position management and alignment with shareholder interests.

The filing lists Saba Capital Management as reporting and records indirect beneficial ownership after the transactions at 4,516,387 shares. The Form 4 is signed by named individuals, satisfying Section 16 reporting formalities. There are no amendments or derivative holdings disclosed, simplifying governance implications: this is a straight equity accumulation reported in the required timeframe.

Insider Trade Summary

Net Buyer: 205,492 shares ($8,357,572)

Net Buy 2 txns

Insider Saba Capital Management, L.P.

Role 10% Owner

Bought 205,492 shs ($8.36M)

Type	Security	Shares	Price	Value
Purchase	Common Stock	109,206	$40.91	$4.47M
Purchase	Common Stock	96,286	$40.40	$3.89M

Holdings After Transaction: Common Stock — 4,516,387 shares (Indirect, -)

Footnotes (1)

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Saba Capital Management, L.P.

(Last) (First) (Middle)

405 LEXINGTON AVENUE

58TH FLOOR

(Street)

NEW YORK NY 10174

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ASA Gold & Precious Metals Ltd [ ASA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/11/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/11/2025		P		96,286	A	$40.4	4,407,181	I	-
Common Stock	09/12/2025		P		109,206	A	$40.91	4,516,387	I	-

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	Saba Capital Management, L.P. By: Zachary Gindes	09/15/2025
	Boaz Weinstein	09/15/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider purchases did Saba Capital report for ASA (ASA)?

The Form 4 shows two non-derivative purchases: 96,286 shares at $40.40 on 09/11/2025 and 109,206 shares at $40.91 on 09/12/2025.

What is Saba Capital's total reported ownership in ASA after these transactions?

The filing reports indirect beneficial ownership of 4,516,387 shares following the transactions.

Were any derivatives or dispositions reported in this Form 4 for ASA?

No. Table II (derivative securities) shows no entries; only non-derivative acquisitions are reported.

When was the Form 4 for these ASA transactions signed?

The Form 4 is signed by Saba Capital Management representatives on 09/15/2025.

Is the reported ownership direct or indirect?

The ownership is reported as indirect (I) in the Form 4 entries.