[SCHEDULE 13G/A] ASA GOLD AND PRECIOUS METALS LIMITED SEC Filing

Rhea-AI Filing Summary

Morgan Stanley and subsidiary Morgan Stanley Smith Barney LLC filed Amendment No. 6 to Schedule 13G for ASA Gold & Precious Metals Ltd (ASA) covering holdings as of 30 Jun 2025.

The reporting group states beneficial ownership of 1,197,203 common shares, equal to 6.3 % of ASA’s outstanding stock. They claim shared voting power over 4,323 shares and shared dispositive power over the full 1.20 million shares; no sole voting or dispositive authority is reported.

Morgan Stanley is classified as a parent holding company/control person; Morgan Stanley Smith Barney LLC is a broker-dealer and investment adviser. The filing, made under Rule 13d-1(b), certifies the stake is held in the ordinary course of business with no intent to influence issuer control.

Positive

• Morgan Stanley’s 6.3 % ownership adds a well-capitalised institutional investor to ASA’s register, potentially improving liquidity and market confidence.

Negative

• None.

Insights

Securities Analyst

TL;DR: 6.3 % passive stake by Morgan Stanley signals institutional interest but offers limited strategic implications for ASA.

The 13G/A reveals a moderate but not controlling position—roughly 1.20 million shares—establishing Morgan Stanley as the largest disclosed holder above the 5 % threshold. Because the filing is on Schedule 13G, the firm affirms a passive intent, so governance impact should be minimal. Nevertheless, the presence of a globally recognised institution may enhance market visibility and liquidity for ASA’s thinly traded shares. No purchase prices, cost basis or transaction timing were provided, so investors cannot infer valuation views. Overall, the disclosure is informational rather than transformative.

Portfolio Manager

TL;DR: Institutional ownership surpasses 5 %, mildly positive for liquidity; no activism signalled.

A 6.3 % holding by Morgan Stanley and its wealth-management arm broadens ASA’s shareholder base with high-profile capital, potentially tightening bid-ask spreads. Because sole voting power is nil and shared voting is minimal, the firm appears uninterested in exerting influence—important for managers concerned about sudden strategic shifts. Unless subsequent 13D filings emerge, the practical effect is limited to perception and incremental trading support.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 6)

ASA Gold & Precious Metals Ltd

(Name of Issuer)

Common Shares

(Title of Class of Securities)

G3156P103

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. G3156P103

1

Names of Reporting Persons

Morgan Stanley

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,323.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,197,203.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,197,203.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.3 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

CUSIP No. G3156P103

1

Names of Reporting Persons

Morgan Stanley Smith Barney LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,192,881.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,192,881.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.3 %

12

Type of Reporting Person (See Instructions)

BD, IA, CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ASA Gold & Precious Metals Ltd
(b)	Address of issuer's principal executive offices: APEX FUND SERVICES, THREE CANAL PLAZA, PORTLAND, ME, 04101
Item 2.
(a)	Name of person filing: 1: Morgan Stanley 2: Morgan Stanley Smith Barney LLC
(b)	Address or principal business office or, if none, residence: 1: 1585 Broadway, New York, NY 10036 ;2: 1585 Broadway, New York, NY 10036
(c)	Citizenship: 1: Delaware 2: Delaware
(d)	Title of class of securities: Common Shares
(e)	CUSIP No.: G3156P103
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: 6.3 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99.2
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. * In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS"). This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release.

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.

Morgan Stanley

Signature:	Christopher O'Hara
Name/Title:	Authorized Signatory, Morgan Stanley
Date:	08/05/2025

Morgan Stanley Smith Barney LLC

Signature:	David Galasso
Name/Title:	Authorized Signatory, Morgan Stanley Smith Barney LLC
Date:	08/05/2025

Exhibit Information

EXHIBIT NO. EXHIBITS ------------------ ------------------------------------ 99.1 Joint Filing Agreement 99.2 Item 7 Information * Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001).

FAQ

How many ASA shares does Morgan Stanley report owning?

The filing lists 1,197,203 common shares held with shared dispositive power.

What percentage of ASA’s outstanding shares does the 1.2 million share stake represent?

It equals 6.3 % of the company’s common shares.

Does Morgan Stanley have sole voting power over the ASA shares?

No. The filing discloses 0 sole voting power and 4,323 shares with shared voting power.

Why is the disclosure on Schedule 13G rather than 13D?

Schedule 13G is used for passive holdings; the certification states the shares are not held to influence control.

When were the event and filing dates?

Event date: 30 Jun 2025. Signature date: 05 Aug 2025.