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Gold a Bright Spot for Bearish Commodity Investor SprottThe generally bearish outlook of commodity investor Eric Sprott has made for a challenging 2009 for his Canadian investment firm. Sprott Inc., which debuted in a Canadian-listed IPO over a year ago, saw a wider loss year over year in its Q3 earnings report earlier this month. As might be expected for the commodity-oriented firm, the surging price of gold has been a bright spot. Eric Sprott said, “We continue to believe that gold and other precious metals will be the best store of value for investors over the longer term. As such, several of our larger funds have significant investments in physical gold and silver, as well as mining stocks.” While Sprott has exposure to many Canadian-listed firms, American investors will be interested in the various U.S.-listed equities it holds, many of them mining stocks. The largest U.S.-listed position in Sprott’s portfolio is silver miner Silver Wheaton (SLW), where he was increasing his stake during Q3. Elsewhere, Sprott was adding to a number of stakes, including miners Jaguar Mining (JAG), Yamana Gold (AUY), Kinross Gold (KGC), Exeter Resource (XRA), and Eldorado Gold (EGO). Meanwhile, he was trimming stakes in miners Golden Star Resources (GSS), IAMGOLD (IAG), Keegan Resources (KGN), and oil sands player Oilsands Quest (BQI). The rest of Sprott’s top, U.S.-listed, equity holdings from the end of Q3 are available at tickerspy.com, where a performance graph shows that combined holdings have had a volatile but upward trajectory in recent months. Visit tickerspy.com to see Sprott’s top holdings and a chart of their combined performance. 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. 
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November 27th, 2009 at 3:41 am
Hello Everyone,
Interesting article and good to hear, that is right up to the point where it was mentioned that the portfolio was trimming KGN, GSS, etc. This strategy I would understand for any generic commodity under nominal circumstances, i.e., taking profits after a run-up, but this is much more near the begining of the bull market for gold and I would think that maybe adding a little to the portfolio would be more prudent as well as maximizing the position, not riskier.
I admit though, I am VERY new to the gold markets (My big oops, huh?) and have no idea of precious metals trading nuances, so if anyone has any feedback, that would be very enlightening and appreciated.