Following our article on the STOCK Act, which highlights the impressive investing success of government officials and the new legislation that makes their trading activities more transparent, we are exploring the portfolios of some of the most prominent Congressmen.
The STOCK Act makes it mandatory for Members of Congress to disclose their financial assets and transactions every year. Thanks to this piece of legislation, I was able to compile the top holdings of Representative Ron Paul of Texas’s 14th district. The list is based on Ron Paul’s personal financial disclosure report that was filed this year but the information reflects his financial assets and transactions for 2011.
Ron Paul is famous for his radical views on the U.S. monetary system and his unflagging efforts at presidential nominations despite continued failure since 1988.
Unlike some congressmen who are rather active traders in the stock market, Ron Paul has few transactions and a stable portfolio. He is not looking to make short-term gains from price differences and is more of a long-term investor.
His strategy is to invest in key industries, namely gold and silver, which is in line with his particular brand of political philosophy – returning to the gold standard. Whether you agree or disagree with his views, there is no doubt that this is a sincere man who practices what he preaches.
Rep. Ron Paul believes that the American financial system is doomed to collapse in the near future and that runaway inflation and the devaluation of the American dollar are going to make money useless unless we back it up by gold. That is why almost his entire portfolio constitutes investment in gold and silver mining companies, many of which are not publicly traded. We have made a list of the publicly traded companies he holds the most shares in, sorted according to value of assets from highest to lowest.
1. Goldcorp Inc (GG, Earnings, Analysts, Financials): Goldcorp Inc. engages in the acquisition, development, exploration, and operation of precious metal properties. It primarily explores gold, silver, copper, lead, and zinc. Market cap at $29.9B. Ron Paul owns between $500,001 and $1,000,000 in stocks in this company.
2. Newmont Mining Corp Hldg Co (NEM, Earnings, Analysts, Financials): Newmont Mining Corporation, together with its subsidiaries, engages in the acquisition, exploration, and production of gold and copper properties. Market cap at $21.8B. Paul owns $250,001 – $500,000 worth of these stocks.
3. Iamgold Corp (IAG, Earnings, Analysts, Financials): IAMGOLD Corporation, a mid-tier gold mining company, engages in the exploration, development, and production of mineral resource properties, primarily gold. Market cap at $4.4B. Paul owns $250,001 – $500,000 worth of these stocks.
4. Barrick Gold Corp (ABX, Earnings, Analysts, Financials): Barrick Gold Corporation engages in the production and sale of gold and copper. Market cap at $34.3B. Constitutes $100,001 – $250,000 of Paul’s assets.
5. AngloGOld ashanti Ltd (AU, Earnings, Analysts, Financials): AngloGold Ashanti Limited primarily engages in the exploration and production of gold. It also produces by-products, such as silver, uranium oxide, and sulfuric acid. Market cap at $11.5B. Constitutes $100,001 – $250,000 of Paul’s assets.
6. Agnico Eagle Mines (AEM, Earnings, Analysts, Financials): Agnico-Eagle Mines Limited, through its subsidiaries, engages in the exploration, development, and production of mineral properties in Canada, Finland, and Mexico. Market cap at $9.2B. Constitutes $50,001 – $100,000 of Paul’s assets.
7. Silver Wheaton Corp Com (SLW, Earnings, Analysts, Financials): Silver Wheaton Corp., a mining company, together with its subsidiaries, operates as a silver streaming company worldwide. Market cap at $13.1B. Ron Paul owns between $500,001 and $1,000,000 in stocks in this company. Constitutes $50,001 – $100,000 of Paul’s assets.
Also, check out how the top three companies have been performing over the last 5 years. Paul has been holding these shares for a long time so it’s useful to have a long-term perspective of these companies.
One Year Return for the stocks listed above:
Average analyst ratings for these stocks:
Written by Fay Faatin
Analyze These Ideas: Getting Started
- Read descriptions for all companies mentioned
- Access a performance overview for all stocks in the list
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Dig Deeper: Access Company Snapshots, Charts, Filings
- Goldcorp Inc (GG, Chart, Download SEC Filings)
- Newmont Mining Corp Hldg Co (NEM, Chart, Download SEC Filings)
- Iamgold Corp (IAG, Chart, Download SEC Filings)
- Barrick Gold Corp (ABX, Chart, Download SEC Filings)
- AngloGOld ashanti Ltd (AU, Chart, Download SEC Filings)
- Agnico Eagle Mines (AEM, Chart, Download SEC Filings)
- Silver Wheaton Corp Com (SLW, Chart, Download SEC Filings)
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