Saba Capital boosts ASA Gold and Precious Metals (ASA) holding to 30.03%

Rhea-AI Filing Summary

Saba Capital Management and affiliates report a significant ownership position in ASA Gold and Precious Metals Limited. They beneficially own 5,667,185 common shares, representing 30.03% of the company’s 18,872,332 shares outstanding, and have shared voting and dispositive power over this entire block.

The group paid approximately $156,508,580 in total to acquire these shares, funded by investor subscriptions, capital appreciation, and routine margin borrowings. Amendment No. 21 updates details on funding, ownership levels, and related exhibits, with all recent trades executed in the open market.

Insights

Activist and ownership-structure analyst

Saba Capital now controls a 30.03% stake in ASA, with full shared voting power.

Saba Capital Management, its general partner, and Boaz R. Weinstein collectively report beneficial ownership of 5,667,185 ASA common shares, equal to 30.03% of the 18,872,332 shares outstanding. They hold shared voting and dispositive power over this full amount, indicating coordinated control of a large block.

The filing notes that approximately $156,508,580 has been paid to acquire these shares, using investor subscription capital, appreciation and ordinary-course margin borrowings. All trades between the prior amendment on 1/23/2026 and the event date 2/9/2026 occurred in the open market, and detailed trade data is contained in Schedule A.

This amendment primarily refreshes Items 3, 5 and 7, formalizing current funding sources, ownership percentages and exhibit references. While no specific transactional purpose is disclosed in Item 4, the size of the position and unified voting power may be relevant for future governance or strategic developments that would be described in subsequent disclosures.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 21)

ASA Gold and Precious Metals Limited

(Name of Issuer)

Common Shares, $1 par value

(Title of Class of Securities)

G3156P103

(CUSIP Number)

Saba Capital Management, L.P.
405 Lexington Avenue, 58th Floor, Attention: Michael D'Angelo
New York, NY, 10174
(212) 542-4635

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

02/09/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. G3156P103

1

Name of reporting person

Saba Capital Management, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 5,667,185.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 5,667,185.00

11

Aggregate amount beneficially owned by each reporting person

5,667,185.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

30.03 %

14

Type of Reporting Person (See Instructions)

PN, IA

Comment for Type of Reporting Person:

The percentages used herein are calculated based upon 18,872,332 shares of common stock outstanding, as disclosed in the company's Form 144 filed 12/5/25.

SCHEDULE 13D

CUSIP No. G3156P103

1

Name of reporting person

Boaz R. Weinstein

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 5,667,185.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 5,667,185.00

11

Aggregate amount beneficially owned by each reporting person

5,667,185.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

30.03 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

The percentages used herein are calculated based upon 18,872,332 shares of common stock outstanding, as disclosed in the company's Form 144 filed 12/5/25.

SCHEDULE 13D

CUSIP No. G3156P103

1

Name of reporting person

Saba Capital Management GP, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 5,667,185.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 5,667,185.00

11

Aggregate amount beneficially owned by each reporting person

5,667,185.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

30.03 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

The percentages used herein are calculated based upon 18,872,332 shares of common stock outstanding, as disclosed in the company's Form 144 filed 12/5/25.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Shares, $1 par value
(b)	Name of Issuer: ASA Gold and Precious Metals Limited
(c)	Address of Issuer's Principal Executive Offices: Three Canal Plaza, Suite 600, Portland, MAINE , 04101.
Item 1 Comment: This Amendment No. 21 amends Items 3, 5, and 7.
Item 2.	Identity and Background
(a)	This Schedule 13D/A is being jointly filed by: (i) Saba Capital Management, L.P., a Delaware limited partnership ("Saba Capital"); (ii) Saba Capital Management GP, LLC, a Delaware limited liability company ("Saba GP"); and (iii) Mr. Boaz R. Weinstein ("Mr. Weinstein"), (together, the "Reporting Persons"). Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party. The filing of this statement should not be construed as an admission that any Reporting Person is, for the purposes of Sections 13 of the Securities Exchange Act of 1934, the beneficial owner of the Common Shares reported herein.
(b)	The address of the business office of each of the Reporting Persons is 405 Lexington Avenue, 58th Floor, New York, New York 10174.
(c)	The principal business of: (i) Saba Capital is to serve as investment manager to private and public investment funds and/or accounts, (ii) Saba GP is to serve as general partner of the Saba Capital and other affiliated entities, and (iii) Mr. Weinstein, an individual, is managing member of the general partner of Saba Capital and other affiliated entities.
(d)	The Reporting Persons have not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)	The Reporting Persons have not, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, was, or is subject to, a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or State securities laws or finding any violation with respect to such laws.
(f)	Saba Capital is organized as a limited partnership under the laws of the State of Delaware. Saba GP is organized as a limited liability company under the laws of the State of Delaware. Mr. Weinstein is a citizen of the United States.
Item 3.	Source and Amount of Funds or Other Consideration
	Funds for the purchase of the Common Shares were derived from the subscription proceeds from investors and the capital appreciation thereon and margin account borrowings made in the ordinary course of business. In such instances, the positions held in the margin accounts are pledged as collateral security for the repayment of debit balances in the account, which may exist from time to time. Since other securities are held in the margin accounts, it is not possible to determine the amounts, if any, of margin used to purchase the Common Shares reported herein. A total of approximately $156,508,580 was paid to acquire the Common Shares reported herein.
Item 4.	Purpose of Transaction
	Not Applicable.
Item 5.	Interest in Securities of the Issuer
(a)	See the Reporting Persons section of this Schedule 13D/A for the aggregate number of Common Shares and percentages of the Common Shares beneficially owned by each of the Reporting Persons. The percentages used herein are calculated based upon 18,872,332 shares of common stock outstanding, as disclosed in the company's Form 144 filed 12/5/25.
(b)	See the Reporting Persons section of this Schedule 13D/A for the number of Common Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition.
(c)	The transactions in the Common Shares effected from the filing of the Schedule 13D/A on 1/23/26 by the Reporting Persons to 2/9/26, the date of the event which required filing of this Schedule 13D/A, are set forth in Schedule A and are incorporated herein by reference. All trades were effected in the open market.
(d)	The funds and accounts advised by Saba Capital have the right to receive the dividends and proceeds of sales from the Common Shares.
(e)	Not Applicable.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Not Applicable.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 17 - Schedule A

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Saba Capital Management, L.P.

Signature:	/s/ Michael D'Angelo
Name/Title:	General Counsel
Date:	02/11/2026

Boaz R. Weinstein

Signature:	/s/ Michael D'Angelo
Name/Title:	Authorized Signatory
Date:	02/11/2026

Saba Capital Management GP, LLC

Signature:	/s/ Michael D'Angelo
Name/Title:	Attorney-in-fact*
Date:	02/11/2026

Comments accompanying signature:

Pursuant to a power of attorney dated as of November 16, 2015, which is incorporated herein by reference to Exhibit 2 to the Schedule 13G filed by the Reporting Persons on December 28, 2015, accession number: 0001062993-15-006823

FAQ

What ownership stake in ASA does Saba Capital report in this Schedule 13D/A?

Saba Capital and its affiliates report beneficial ownership of 5,667,185 ASA common shares, representing 30.03% of the outstanding shares. This percentage is calculated using 18,872,332 shares outstanding, as disclosed in ASA’s Form 144 filed on December 5, 2025.

Who are the reporting persons in ASA (ASA) Amendment No. 21 to Schedule 13D?

The reporting persons are Saba Capital Management, L.P., Saba Capital Management GP, LLC, and Boaz R. Weinstein. Together, they form a group with shared voting and dispositive power over 5,667,185 common shares of ASA Gold and Precious Metals Limited.

How much did Saba Capital pay to acquire its ASA common shares?

The reporting group states it paid a total of approximately $156,508,580 to acquire the ASA common shares reported. Funds came from investor subscription proceeds, capital appreciation, and ordinary-course margin borrowings secured by positions held in margin accounts.

How were Saba Capital’s recent ASA share transactions executed?

All reported ASA share transactions from the prior amendment on January 23, 2026 through February 9, 2026 were executed in the open market. Specific trade details and dates are listed in Schedule A (Exhibit 17), which is incorporated by reference.

What changes does Amendment No. 21 make to Saba’s ASA Schedule 13D filing?

Amendment No. 21 specifically amends Items 3, 5, and 7. It updates the source and amount of funds, the interest in ASA securities including percentages and voting power, and the exhibits section, adding Schedule A that lists recent open-market transactions.

Does Saba Capital disclose any specific plans or purposes for its ASA stake?

Item 4, which covers the purpose of transaction, is marked “Not Applicable”. The amendment focuses on updating ownership levels, funding sources, and exhibits, without describing any specific corporate actions or strategic plans related to ASA at this time.