Gold the Best Bet for Bearish Sprott

Even as markets worldwide mounted impressive rallies off their 2009 lows, Canadian money manager and commodity investor Eric Sprott has remained bearish on most equities and bullish on gold. New filings indicate he has continued to shuffle his cash among a variety of commodity-oriented equities.

Earlier this Month, Sprott told Bloomberg, “I have no trouble imagining we get [gold] to $1,500 this year and $2,000 in two years.” This followed comments to Bloomberg in Decmeber predicting a bear market lasting 15 to 20 years. Given the gold-plated doom and gloom, it’s no surprise to see that Sprott Asset Management’s most recently disclosed holdings show plenty of precious metals.

While Sprott has exposure to many Canadian-listed firms, American investors will be interested in the various U.S.-listed equities it holds.

The largest U.S.-listed position in Sprott’s portfolio from the start of 2010 is silver miner Silver Wheaton (SLW), where he was trimming his stake during Q3.

Elsewhere, Sprott was adding to a number of stakes, including miners Gold Fields (GFI), Yamana Gold (AUY), and Keegan Resources (KGN) as well as to gold-focused closed-end fund Central Gold Trust (GTU).

Meanwhile, he was trimming stakes in miners Jaguar Mining (JAG), Kinross Gold (KGC), Exeter Resource (XRA), and Eldorado Gold (EGO).

Outside of precious metals, Sprott also maintained a position in oil sands firm Oilsands Quest (BQI) and mineral and energy play U.S. Energy (USEG).

The rest of Sprott’s top, U.S.-listed, equity holdings from the end of 2009 are available at tickerspy.com, where a performance graph shows that combined holdings have had a volatile but mostly downward trajectory in recent months.

Visit tickerspy.com to see Sprott’s top holdings and a chart of their combined performance.

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Pro portfolio performance is based on institutions’ top-15 holdings as disclosed in quarter-end filings with the SEC. Pro performance does not take into account additional holdings beyond the top 15 nor does it include positions that are not required to be disclosed by the SEC. As such, Pro portfolio performance should be considered an approximation and not a precise record of how an institution has performed over time.

Tags: AUY, BQI, EGO, GFI, GTU, JAG, KGC, KGN, SLW, USEG, XRA