ASA: Morgan Stanley Holdings Decline to 4.7%

ASA Gold & Precious Metals Ltd received Amendment No. 9 to a Schedule 13G/A from Morgan Stanley and Morgan Stanley Smith Barney LLC reporting their current beneficial holdings in the company's Common Shares.

Rhea-AI Filing Summary

ASA Gold & Precious Metals Ltd received Amendment No. 9 to a Schedule 13G/A from Morgan Stanley and Morgan Stanley Smith Barney LLC reporting their current beneficial holdings in the company's Common Shares. The filing shows Morgan Stanley holds 891,023 shares (4.7%) and Morgan Stanley Smith Barney LLC holds 754,179 shares (4.0%), each stating they have ceased to be the beneficial owner of more than five percent of the class “as of the date hereof.” The filing is signed by authorized signatories and includes exhibits with a joint filing agreement and Item 7 subsidiary information.

Insights

Institutional Ownership Analyst

Amendment records sub-5% ownership by two Morgan Stanley reporting units.

The filing specifies precise share counts and percentages for two Morgan Stanley reporting entities: 891,023 shares (4.7%) for Morgan Stanley and 754,179 shares (4.0%) for Morgan Stanley Smith Barney LLC. Each entity states it has ceased to be a >5% beneficial owner.

This is a routine ownership disclosure that updates regulatory status; subsequent filings would show any further changes in holdings or control. Cash-flow treatment and trading intent are not stated in the excerpt.

Regulatory Compliance Specialist

Amendment aligns reporting with the Release guidance and attaches required exhibits.

The schedule references Release No. 34-39538 and lists Exhibit 99.1 (Joint Filing Agreement) and Exhibit 99.2 (Item 7 subsidiary information), indicating compliance with aggregation and subsidiary-disclosure rules. The signatures certify the amendment.

Materiality is procedural: the filing documents ownership falling below the 5% threshold rather than a transaction narrative; further SEC schedules would disclose material purchases or dispositions if they occurred.

Key Figures

Morgan Stanley holdings: 891,023 shares Morgan Stanley percent: 4.7% Morgan Stanley Smith Barney holdings: 754,179 shares +2 more

5 metrics

Morgan Stanley holdings 891,023 shares reported in Amendment No. 9

Morgan Stanley percent 4.7% percent of class reported

Morgan Stanley Smith Barney holdings 754,179 shares reported in Amendment No. 9

Morgan Stanley Smith Barney percent 4.0% percent of class reported

CUSIP G3156P103 identified on cover page

Key Terms

Schedule 13G/A, beneficial owner, shared dispositive power, Release No. 34-39538

4 terms

Schedule 13G/A regulatory

"Amendment No. 9 to a Schedule 13G/A reporting beneficial ownership"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

beneficial owner regulatory

"has ceased to be the beneficial owner of more than five percent"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

shared dispositive power financial

"Shared Dispositive Power 891,023.00"

Release No. 34-39538 regulatory

"In Accordance with the Release No. 34-39538 (January 12, 1998)"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does ASA's Schedule 13G/A Amendment No. 9 say about Morgan Stanley's holdings?

It reports Morgan Stanley holds 891,023 shares (4.7%) of ASA Common Shares. The filing states Morgan Stanley has ceased to be the beneficial owner of more than five percent of the class, per the amendment language.

How many shares does Morgan Stanley Smith Barney LLC report owning in ASA?

Morgan Stanley Smith Barney LLC reports 754,179 shares (4.0%) of ASA Common Shares. The filing includes the entity's citizenship as Delaware and notes it has ceased to exceed the 5% beneficial ownership threshold.

Does the amendment indicate why ownership fell below 5%?

No. The amendment states each entity has ceased to be the beneficial owner of more than five percent, but it does not describe transactions, timing, or cash-flow treatment that caused the change in percentage.

What exhibits accompany the Schedule 13G/A amendment for ASA (symbol ASA)?

The filing lists Exhibit 99.1 (Joint Filing Agreement) and Exhibit 99.2 (Item 7 subsidiary information). These exhibits document aggregation treatment and subsidiary identification per the referenced Release.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/11/2026 - 12:46 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 9)

ASA Gold & Precious Metals Ltd

(Name of Issuer)

Common Shares

(Title of Class of Securities)

G3156P103

(CUSIP Number)

03/31/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 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 136,845.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 891,023.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

891,023.00

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)

4.7 %

12

Type of Reporting Person (See Instructions)

HC, CO

Comment for Type of Reporting Person: As of the date hereof, Morgan Stanley has ceased to be the beneficial owner of more than five percent of the class of securities.

SCHEDULE 13G

CUSIP Number(s): 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 754,179.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

754,179.00

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)

4.0 %

12

Type of Reporting Person (See Instructions)

BD, IA, CO

Comment for Type of Reporting Person: As of the date hereof, Morgan Stanley Smith Barney LLC has ceased to be the beneficial owner of more than five percent of the class of securities.

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: 4.7 %
(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.
	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:	Claire Gordon
Name/Title:	Authorized Signatory, Morgan Stanley
Date:	05/11/2026

Morgan Stanley Smith Barney LLC

Signature:	David Galasso
Name/Title:	Authorized Signatory, Morgan Stanley Smith Barney LLC
Date:	05/11/2026

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).