Midas Funds' Blog

Fund Strategies and Market Commentaries: 2/8/2011

2011-02-11T09:12:00.007-05:00

Midas Fund – gold investing for capital appreciation

Midas Fund is seeking capital appreciation through primarily quality senior and intermediate precious metals producers. Well managed producing mining companies are anticipated to report impressive earnings and cash flow growth, potentially propelling their stock prices from current modest valuation levels. During the recent weakness in precious metals prices, Midas Fund’s recent returns were supported by companies with base metal sources of revenue or resource wealth. Dilutive company financings and market disappointments in operations among the Fund’s holdings have hindered recent Fund performance. Midas Fund is currently moderately leveraged in a global portfolio of primarily large and medium sized gold, silver, and platinum miners with growth potential and smaller companies with promising exploration potential, expanding production profiles, increasing cash flow, and/or other special growth features. The Fund may seek to further leverage its holdings of global mining companies with production of gold, silver, and other metals, including copper, uranium, and platinum, judged to have reasonable valuations while offering attractive quality and growth.

Midas Special Fund - leveraged in quality companies for capital appreciation.

Midas Special Fund increased the number of quality blue chip and other well-known companies in its concentrated portfolio, including the stocks of some of the strongest global companies in insurance, business services, transportation, and information retrieval, using aggressive leverage. At the same time, the Fund maintained its strategic focus on quality companies with unique combinations of strength in operations, products, and finances, offering growth and value. As economic and financial news continue to suggest investment potential, the Fund may seek to employ its flexible investment strategy to enhance returns with leverage and other speculative techniques, or seek a defensive investment position. The Fund’s outlook currently suggests a steady course, notwithstanding recent market fluctuations, seeking both growth and value opportunities as they may arise.

Midas Perpetual Portfolio - rebalancing among key asset categories

Midas Perpetual Portfolio is ideally suited for investors who wish to invest all or a portion of their capital in a way that does not depend on any particular outcome for the economy. While the Fund’s objective is to preserve and increase the purchasing power value of its shares over the long term, the investment strategy of Midas Perpetual Portfolio acknowledges a broad range of economic possibilities and investing outlooks, and seeks to incorporate investments appropriate for each of them. Key to the pursuit of its investment objective, the Fund seeks to invest a fixed "Target Percentage" of its total assets in each of the following categories: gold, silver, Swiss franc assets, hard asset securities, large capitalization growth stocks, and dollar assets. As a category outperforms the others and becomes overweighted, its weighting is reduced back towards its target. This “re-balancing” activity normally will cause the Fund to reduce its exposure to sectors with potentially unsustainable investor enthusiasm, and increase its exposure towards sectors which might hold greater relative, although currently underappreciated, value for investors. Recently, the silver and gold categories have outperformed and the Fund reduced its relative exposure to those assets, and increased its relative investment in the other categories whose prices do not currently reflect the same degree of market euphoria.

TOP TEN HOLDINGS

2011-01-18T11:38:00.002-05:00

Midas Fund, Inc.
Top Ten Holdings, as of December 31, 2010

1. Northern Dynasty Minerals Ltd.
2. Barrick Gold Corp.
3. Avocet Mining PLC
4. Fresnillo plc
5. Freeport McMoRan Copper & Gold, Inc.
6. Northgate Minerals Corp.
7. Newmont Mining
8. Kinross Gold Corp.
9. Eldorado Gold Corp.
10. Impala Platinum Holdings Ltd.

Top ten holdings comprise approximately 44% of total assets.

Midas Special Fund, Inc.
Top Ten Holdings, as of December 31, 2010

1. Berkshire Hathaway, Inc. Class B
2. MasterCard, Inc.
3. Google Inc.
4. Canadian Natural Resources Ltd.
5. JPMorgan Chase & Co.
6. Apple Inc.
7. Costco Wholesale Corp.
8. Johnson & Johnson
9. General Electric Company
10. The Goldman Sachs Group, Inc.

Top ten holdings comprise approximately 93% of total assets.

Midas Perpetual Portfolio, Inc.
Top Ten Holdings, as of December 31, 2010

1. SSgA Money Market Fund
2. SPDR Gold Trust
3. Switzerland Government, 2.5% Notes, due 3/12/16
4. iShares Silver Trust
5. Comcast Corporation
6. Roche Holding Ltd.
7. Oracle Corp.
8. E.I. du Pont de Nemours & Company
9. Schlumberger Limited
10. Rio Tinto PLC

Top ten holdings comprise approximately 79% of total assets.

Holdings are subject to change.

The above portfolio information should not be considered as a recommendation to purchase or sell a particular security and there is no assurance that any securities will remain in or out of the Fund.

Fund Strategies and Market Commentaries: 12/9/2010

2010-12-13T10:25:00.002-05:00

Midas Fund – gold investing for capital appreciation

Midas Fund has re-balanced its portfolio towards the highest quality senior and intermediate precious metals producers. As gold and silver prices increase, well managed producing mining companies are expected to show dramatic earnings and cash flow growth, adding further potential boost to their stock prices. Midas Fund particularly benefited from high acquisition bids for two portfolio holdings in the quarter. A junior company's lackluster gold production in the recent quarter detracted from Fund performance. Midas Fund is currently aggressively leveraged in a global portfolio of primarily large and medium sized gold, silver, and platinum miners offering attractive valuations and smaller companies with promising exploration potential, expanding production profiles, increasing cash flow, and/or other special growth features. The Fund may seek to further leverage its holding in global mining companies with production of gold, silver, and other metals, including copper, deemed to have both reasonable valuations and compelling quality and growth.

Midas Special Fund – aggressively seeking capital appreciation through quality investing

Midas Special Fund has further concentrated the number of quality blue chip and other well known companies in its portfolio, including the stocks of some of the strongest global companies in insurance, business services, and information retrieval, using aggressive leverage. This reflects the Fund's strategy of focusing on quality companies with unique combinations of strength in operations, products, and finances, offering growth and value. As economic and financial news continue to suggest investment potential, the Fund may seek to employ its flexible investment strategy to enhance returns or seek a defensive investment position. The Fund’s outlook currently suggests a steady course, notwithstanding recent market fluctuations, seeking both growth and value opportunities as they may arise.

Midas Perpetual Portfolio – seeking to preserve and increase the purchasing power value of its shares over the long term

Midas Perpetual Portfolio, in pursuit of its investment objective, has invested a fixed "Target Percentage" of its total assets in certain asset categories – gold, silver, Swiss franc assets, hard asset securities, large capitalization growth stocks, and dollar assets -- as it seeks to preserve and increase the "purchasing power" value of its shares over the long term. This investment strategy of the Fund acknowledges a broad range of economic possibilities and seeks to incorporate investments appropriate for each of them. Investors who wish to invest all or a portion of their capital in a way that does not depend on any particular outcome for the economy should consider purchasing shares in the Fund. Currently, the Fund’s investment manager expects to be comparing the Fund’s actual percentage of investments in a given category with the Target Percentage for that category. Silver appears to have outperformed, thus causing the Fund to reduce its exposure to that asset, and reinvest in another category whose prices do not currently reflect the same degree of market euphoria.

TOP TEN HOLDINGS

2010-10-15T09:14:00.003-04:00

Midas Fund, Inc.
Top Ten Holdings, as of September 30, 2010

1. Newcrest Mining Ltd.
2. Barrick Gold Corp.
3. Centerra Gold Inc.
4. Kinross Gold Corporation
5. Fresnillo plc
6. Avocet Mining PLC
7. Jaguar Mining Inc.
8. Northgate Minerals Corp.
9. Northern Dynasty Minerals Ltd.
10. Aquarius Platinum plc

Top ten holdings comprise approximately 50% of total assets.

Midas Special Fund, Inc.
Top Ten Holdings, as of September 30, 2010

1. Berkshire Hathaway, Inc. Class B
2. MasterCard, Inc.
3. Google, Inc.
4. JPMorgan Chase & Co.
5. Apple Inc.
6. Canadian Natural Resources Ltd.
7. Johnson & Johnson
8. Costco Wholesale Corp.
9. General Electric Company
10. The Goldman Sachs Group, Inc.

Top ten holdings comprise approximately 93% of total assets.

Midas Perpetual Portfolio, Inc.
Top Ten Holdings, as of September 30, 2010

1. SSgA Money Market Fund
2. SPDR Gold Trust
3. Switzerland Government, 2.5% Notes, due 3/12/16
4. iShares Silver Trust
5. Southern Copper Corp.
6. Oracle Corp.
7. E.I. du Pont de Nemours & Company
8. Berkshire Hathaway, Inc. Class B
9. Cisco Systems, Inc.
10. Praxair, Inc.

Top ten holdings comprise approximately 80% of total assets.

Holdings are subject to change.

The above portfolio information should not be considered as a recommendation to purchase or sell a particular security and there is no assurance that any securities will remain in or out of the Fund.

Fund Strategies and Market Commentaries: 10/8/2010

2010-10-08T12:24:00.003-04:00

Midas Fund – gold investing for capital appreciation

Midas Fund has eliminated its investment leverage and reduced the size of or sold several individual positions in the portfolio. Since July 27, 2010, gold has jumped over $200 an ounce, from $1,161 an ounce to $1,361 an ounce, and silver has rocketed $5.84, from $17.68 an ounce to a 30 year high of $23.52 an ounce, causing the prices of many gold and silver mining, project development, and exploration stocks to rise beyond prudent valuations. Fund holdings of quality junior gold producing and project development companies greatly contributed to gains in its portfolio in the recent period. Disappointment with another junior company’s gold production detracted from Fund performance. Midas Fund is currently more broadly invested in a global portfolio of large and medium sized gold, silver, and platinum miners offering attractive valuations and smaller companies with promising exploration potential, expanding production profiles, increasing cash flow, and/or other special growth features. The Fund will be seeking to reinvest its cash on hand in gold and silver mining companies judged to have both reasonable valuations and compelling quality and growth.

Midas Special Fund – aggressively seeking capital appreciation through quality investing

Midas Special Fund has kept its portfolio leveraged in a concentrated number of quality companies with unique combinations of strength in operations, products, and finances, offering growth and value. This reflects the Fund's strategy of focusing on quality blue chips and other well known companies, including the stocks of some of the strongest global companies in insurance, business services, and information retrieval. As economic and financial news continue to create investment opportunities, the Fund may seek to employ its flexible investment strategy to enhance returns or seek a defensive investment position. The Fund’s outlook currently suggests a steady course, notwithstanding recent market fluctuations, seeking both growth and value opportunities as they may arise.

Midas Perpetual Portfolio – seeking to preserve and increase the purchasing power value of its shares over the long term

Midas Perpetual Portfolio, in pursuit of its investment objective, has invested a fixed "Target Percentage" of its total assets in each of the following categories: gold; silver; Swiss franc assets; hard asset securities; large capitalization growth stocks; and dollar assets. The Fund continues to seek to preserve and increase the "purchasing power" value of its shares over the long term. This investment strategy of the Fund acknowledges a broad range of economic possibilities and seeks to incorporate investments appropriate for each of them. Investors who wish to invest all or a portion of their capital in a way that does not depend on any particular outcome for the economy should consider purchasing shares in the Fund. Currently, the Fund’s investment manager expects to be comparing the Fund’s actual percentage of investments in a given category with the Target Percentage for that category. Should the actual percentage at calendar quarter end vary from the Target Percentage (due to market fluctuations or other factors) by more than one-tenth of the Target Percentage for that category, within the subsequent quarter, the investment manager may adjust the Fund’s investments as needed to more closely align the actual percentage to the Target Percentage (unless it is substantially re-aligned at any time during the subsequent quarter by further market fluctuations or other factors).

Denver Gold Forum: Beware These Stocks LIHRY, ABX, KGC, NEM, NXG, GG - TheStreet TV

2010-09-29T10:49:00.000-04:00

Denver Gold Forum: Beware These Stocks LIHRY, ABX, KGC, NEM, NXG, GG - TheStreet TV

TOP TEN HOLDINGS

2010-09-15T15:02:00.003-04:00

Midas Fund, Inc.
Top Ten Holdings, as of August 31, 2010

1. Newcrest Mining Ltd.
2. Agnico-Eagle Mines Ltd.
3. Newmont Mining Corp.
4. Barrick Gold Corporation
5. Centerra Gold Inc.
6. Andean Resources Ltd.
7. Northgate Minerals Corp.
8. Fresnillo plc
9. Northern Dynasty Minerals Ltd.
10. Impala Platinum Holdings Ltd.

Top ten holdings comprise approximately 52% of total assets.

Midas Special Fund, Inc.
Top Ten Holdings, as of August 31, 2010

1. Berkshire Hathaway, Inc. Class B
2. MasterCard, Inc.
3. Google, Inc.
4. JPMorgan Chase & Co.
5. Canadian Natural Resources Ltd.
6. Johnson & Johnson
7. Apple Inc.
8. Costco Wholesale Corp.
9. The Goldman Sachs Group, Inc.
10. General Electric Company

Top ten holdings comprise approximately 93% of total assets.

Midas Perpetual Portfolio, Inc.
Top Ten Holdings, as of July 30, 2010
1. SSgA Money Market Fund
2. SPDR Gold Trust
3. Switzerland Government, 2.5% Notes, due 3/12/16
4. iShares Silver Trust
5. Southern Copper Corp.
6. E.I. du Pont de Nemours & Company
7. Berkshire Hathaway, Inc. Class B
8. Oracle Corp.
9. Cisco Systems, Inc.
10. Praxair, Inc.

Top ten holdings comprise approximately 80% of total assets.

Holdings are subject to change.

The above portfolio information should not be considered as a recommendation to purchase or sell a particular security and there is no assurance that any securities will remain in or out of the Fund.

Fund Strategies and Market Commentaries: 9/7/2010

2010-09-07T10:16:00.006-04:00

Midas Fund – gold investing for capital appreciation

Midas Fund increased its investment leverage and added quality junior gold producing and project development companies to its portfolio, reducing its exposure to platinum and base metals mining companies. The Fund’s large holding of a South American explorer boosted returns when the company received a high takeover offer. Fund performance was hindered by the failure of another junior gold producing company to meet its own production and cost guidance. Midas Fund’s focus is currently on larger miners offering attractive valuations and smaller companies with promising exploration potential, expanding production profiles, increasing cash flow, and/or other special growth features. During the seasonally supportive period for gold, the Fund will seek to continue to increase its allocation primarily to gold and silver mining companies judged to have the most compelling aspects of quality, growth, and reasonable valuation.

Midas Special Fund – aggressively seeking capital appreciation through quality investing

Midas Special Fund has maintained a steady course, notwithstanding recent market fluctuations. Generally, the Fund's portfolio holds with leverage a concentrated number of quality companies with unique combinations of strength in operations, products, and finances, offering growth and value. This reflects the Fund's strategy of focusing on quality blue chips and other well known companies, including the stocks of some of the strongest global companies in insurance, business services, and information retrieval. As economic and financial news continue to create investment opportunities, the Fund may seek to employ its flexible investment strategy to enhance returns or seek a defensive investment position.

Midas Perpetual Portfolio – seeking to preserve and increase the purchasing power value of its shares over the long term

In pursuit of its investment objective, Midas Perpetual Portfolio has invested a fixed "Target Percentage" of its total assets in each of the following categories: gold; silver; Swiss franc assets; hard asset securities; large capitalization growth stocks; and dollar assets. The Fund continues to seek to preserve and increase the "purchasing power" value of its shares over the long term. This investment strategy of the Fund acknowledges a broad range of economic possibilities and seeks to incorporate investments appropriate for each of them. Investors who wish to invest all or a portion of their capital in a way that does not depend on any particular outcome for the economy should consider purchasing shares in the Fund. Interestingly, designed to provide growth at lower risk, the Fund’s all weather approach makes it an attractive vehicle for a program of steady monthly investing.

TOP TEN HOLDINGS

2010-08-17T10:03:00.002-04:00

Midas Fund, Inc.
Top Ten Holdings, as of July 30, 2010

1. Newmont Mining Corp.
2. Barrick Gold Corporation
3. Centerra Gold, Inc.
4. Northgate Minerals Corp.
5. Andean Resources Ltd.
6. Impala Platinum Holdings Ltd.
7. Agnico-Eagle Mines Ltd.
8. Newcrest Mining, Ltd.
9. Northern Dynasty Minerals Ltd.
10. Johnson Matthey Plc

Top ten holdings comprise approximately 43% of total assets.

Midas Special Fund, Inc.
Top Ten Holdings, as of July 30, 2010

1. Berkshire Hathaway Inc. Class B
2. MasterCard, Inc.
3. Google, Inc.
4. JPMorgan Chase & Co.
5. Canadian Natural Resources Ltd.
6. Apple, Inc.
7. Johnson & Johnson
8. Goldman Sachs Group, Inc.
9. General Electric Co.
10. Costco Wholesale Corp.

Top ten holdings comprise approximately 93% of total assets.

Midas Perpetual Portfolio, Inc.
Top Ten Holdings, as of July 30, 2010

1. SSgA Money Market Fund
2. SPDR Gold Trust
3. Switzerland Government, 2.5% Notes, due 3/12/16
4. iShares Silver Trust
5. Southern Copper Corp.
6. Cisco Systems, Inc.
7. Oracle Corp.
8. E.I. du Pont de Nemours & Co.
9. Berkshire Hathaway, Inc. Class B
10. Praxair, Inc.

Top ten holdings comprise approximately 80% of total assets.

Holdings are subject to change.

The above portfolio information should not be considered as a recommendation to purchase or sell a particular security and there is no assurance that any securities will remain in or out of the Fund.

Fund Strategies and Market Commentaries: 7/15/2010

2010-07-22T12:49:00.002-04:00

Midas Fund – gold investing for capital appreciation

Midas Fund increased its overall investment in quality precious metals and natural resource companies, eliminating its short sale positions. The Fund also reduced exposure to a large South African producing company as market euphoria took its shares past Midas Fund’s target price. The Fund’s exposure to base metal companies depressed returns in the general equity market sell-off. Currently aggressively leveraged, Midas Fund’s returns have reflected volatile market conditions. As gold enters a seasonally supportive period, the Fund will be seeking further opportunities to enhance returns by maintaining its leveraged portfolio of strong companies at attractive valuations. Midas continues to emphasize mining companies offering promising exploration potential, expanding production profiles, increasing cash flow, and/or other special growth features.

Midas Special Fund – aggressively seeking capital appreciation through quality investing

Midas Special Fund kept a steady course with leverage during the recent market fluctuations. Similarly, the Fund maintained its strategy of holding quality blue chips and other well known companies, including the stocks of some of the strongest global companies in insurance, business services, and information retrieval. Generally, the Fund seeks quality companies with unique combinations of strength in operations, products, and finances, offering growth and value. The Fund may employ speculative investment techniques such as borrowing money for investment purposes, a practice known as leveraging, and may also invest defensively. Over the course of future market fluctuations, the Fund may seek opportunities to use its flexible investment strategy to enhance returns or seek a defensive investment position.

Midas Perpetual Portfolio – seeking to preserve and increase the purchasing power value of its shares over the long term

Midas Perpetual Portfolio seeks to preserve and increase the "purchasing power" value of its shares over the long term. The investment strategy of the Fund acknowledges a broad range of economic possibilities and seeks to incorporate investments appropriate for each of them. Investors who wish to invest all or a portion of their capital in a way that does not depend on any particular outcome for the economy should consider purchasing shares in the Fund. Designed to provide growth at lower risk, the Fund’s all weather approach makes it an attractive vehicle for a program of steady monthly investing. In pursuit of its investment objective, the Fund invests a fixed "Target Percentage" of its total assets in each of the following categories: gold; silver; Swiss franc assets; hard asset securities; large capitalization growth stocks; and dollar assets.

TOP TEN HOLDINGS

2010-07-22T12:35:00.003-04:00

Midas Fund, Inc.
Top Ten Holdings as of June 30, 2010

1. Newmont Mining Corp.
2. Barrick Gold Corporation
3. Comaplex Minerals Corp.
4. Northgate Minerals Corp.
5. Centerra Gold, Inc.
6. Aquarius Platinum Ltd.
7. Newcrest Mining, Ltd.
8. Fresnillo Plc.
9. Impala Platinum Holdings Ltd.
10. Andean Resources Ltd.

The top ten holdings comprise approximately 44% of total assets.

Midas Special Fund, Inc.
Top Ten Holdings as of June 30, 2010

1. Berkshire Hathaway, Inc. Class B
2. MasterCard, Inc.
3. Google, Inc.
4. JPMorgan Chase & Co.
5. Canadian Natural Resources Ltd.
6. Johnson & Johnson
7. Apple, Inc.
8. Costco Wholesale Corp.
9. General Electric Co.
10. Goldman Sachs Group, Inc.

Top ten holdings comprise approximately 93% of total assets.

Midas Perpetual Portfolio, Inc.
Top Ten Holdings as of June 30, 2010

1. SSgA Money Market Fund
2. SPDR Gold Trust
3. Switzerland Government, 2.5% Notes, due 3/12/16
4. iShares Silver Trust
5. Southern Copper Corp.
6. Berkshire Hathaway, Inc. Class B
7. Cisco Systems, Inc.
8. Oracle Corp.
9. Goldcorp, Inc.
10. El DuPont de Nemours & Co.

Top ten holdings comprise approximately 80% of total assets.

Holdings are subject to change.

The above portfolio information should not be considered as a recommendation to purchase or sell a particular security and there is no assurance that any securities will remain in or out of the Fund.

TOP TEN HOLDINGS

2010-07-22T12:35:00.002-04:00

Fund Strategies and Quarterly Commentaries: 6/1/2010

2010-06-30T08:51:00.000-04:00

Midas Fund - gold investing for capital appreciation

Midas Fund maintained its quality approach to precious metals and natural resource investing in the quarter, while opportunistically adding new growth companies to the portfolio. The Fund profitably decreased its short sale holdings of certain mining companies, boosting returns in the quarter. The Fund’s exposure to major platinum companies whose valuations declined with depressed platinum prices detracted from positive returns. Currently leveraged, Midas Fund’s returns have reflected volatile market conditions. We are encouraged, however, because these challenging conditions could offer the Fund future opportunities to enhance returns with additions to its portfolio of strong companies at attractive valuations. Midas continues to emphasize mining companies offering promising exploration potential, expanding production profiles, increasing cash flow, and/or other special growth features.

Midas Special Fund - seeking capital appreciation in any sector

Midas Special Fund maintained a leveraged position notwithstanding market fluctuations during the quarter. As earnings announcements continued to offer the market positive surprises, the Fund held true to its strategy of holding blue chips and other well known companies, including the stocks of some of the strongest global companies in insurance, business services, and information retrieval. Over the course of future market fluctuations, the Fund may seek opportunities to use its flexible investment strategy to enhance returns or seek a defensive investment position.

Midas Perpetual Portfolio - seeking to preserve and increase the purchasing power value of its shares over the long term

Midas Perpetual Portfolio seeks to preserve and increase the "purchasing power" value of its shares over the long term. The investment strategy of the Fund acknowledges a broad range of economic possibilities and seeks to incorporate investments appropriate for each of them. Investors who wish to invest all or a portion of their capital in a way that does not depend on any particular outcome for the economy should consider purchasing shares in the Fund.

In pursuit of its investment objective, the Fund invests a fixed "Target Percentage" of its total assets in each of the following categories: gold; silver; Swiss franc assets; hard asset securities; large capitalization growth stocks; and dollar assets. At each calendar quarter end, the Fund’s investment manager compares the Fund’s actual percentage of investments in a given category with the Target Percentage for that category. Should the actual percentage at that time vary from the Target Percentage (due to market fluctuations or other factors) by more than one-tenth of the Target Percentage for that category, within the subsequent quarter the investment manager will normally adjust the Fund’s investments as needed to more closely align the actual percentage to the Target Percentage (unless it is substantially re-aligned at any time during the subsequent quarter by further market fluctuations or other factors). In the quarter the Fund adjusted its holdings of dollar assets, primarily reflecting net purchase or sales of Fund shares.

Fund Strategies and Quarterly Commentaries: 4/1/2010

2010-05-25T15:11:00.000-04:00

Midas Fund - gold investing for capital appreciation

Midas Fund’s "quality with growth" approach in precious metals and natural resource investing drove returns in the quarter. The Fund increased its holdings of platinum mining companies and reduced or eliminated positions in certain gold and silver miners that also received substantial revenues from copper, lead, or zinc. Boosting returns in the quarter were intermediate resource mining companies with increasing reserves or other characteristics enhancing their appeal as potential takeover targets. The Fund’s short sales of certain companies whose valuations were stretched or whose operations appeared at risk of negative developments hindered returns in the quarter. Currently fully invested, Midas Fund recently has benefited from holdings of two companies receiving buyout offers at prices well over market and anticipates more activity in this area, particularly for those companies with operations offering increasing cash flow, expanding production profiles, promising exploration potential, and/or other special growth features.

Midas Special Fund - seeking capital appreciation in any sector

Midas Special Fund maintained a leveraged position during the quarter notwithstanding market fluctuations and the overall movement of equities, In anticipation of favorable earnings announcements, the Fund continued its strategy of holding blue chips and other well known companies, including the stocks of some of the largest and best known U.S. companies in insurance, business services, and information retrieval. Over the course of future market fluctuations, the Fund may seek opportunities to use its flexible investment strategy or seek a defensive investment position.

Midas Perpetual Portfolio - seeking to preserve and increase the purchasing power value of its shares over the long term

Midas Perpetual Portfolio seeks to preserve and increase the "purchasing power" value of its shares over the long term. The investment strategy of the Fund acknowledges a broad range of economic possibilities and seeks to incorporate investments appropriate for each of them. Investors who wish to invest all or a portion of their capital in a way that does not depend on any particular outcome for the economy should consider purchasing shares in the Fund.

In pursuit of its investment objective, the Fund invests a fixed "Target Percentage" of its total assets in each of the following categories: gold; silver; Swiss franc assets; hard asset securities; large capitalization growth stocks; and dollar assets. At each calendar quarter end, the Fund’s investment manager compares the Fund’s actual percentage of investments in a given category with the Target Percentage for that category. Should the actual percentage at that time vary from the Target Percentage (due to market fluctuations or other factors) by more than one-tenth of the Target Percentage for that category, within the subsequent quarter the investment manager will normally adjust the Fund’s investments as needed to more closely align the actual percentage to the Target Percentage (unless it is substantially re-aligned at any time during the subsequent quarter by further market fluctuations or other factors). In the quarter the Fund added to its holdings of Swiss bonds to balance the overall portfolio with Swiss franc assets.

TOP TEN HOLDINGS

2010-05-25T15:05:00.000-04:00

Midas Fund, Inc.
Top Ten Holdings, as of April 30, 2010

1. Newmont Mining Corp.
2. Barrick Gold Corporation
3. Aquarius Platinum Ltd.
4. Northern Dynasty Minerals Ltd.
5. Northgate Minerals Corp.
6. Comaplex Minerals
7. Centerra Gold, Inc.
8. Impala Platinum Holdings Ltd.
9. Newcrest Mining Ltd.
10. Jaguar Mining, Inc.

Top ten holdings comprise approximately 43% of total assets.

Midas Special Fund, Inc.
Top Ten Holdings, as of April 30, 2010

1. Berkshire Hathaway Inc. Class B
2. MasterCard, Inc.
3. Google, Inc.
4. JPMorgan Chase & Co.
5. Canadian Natural Resources Ltd.
6. Johnson & Johnson
7. General Electric Co.
8. Apple, Inc.
9. Costco Wholesale Corp.
10. Goldman Sachs Group, Inc.

Top ten holdings comprise approximately 87% of total assets.

Midas Perpetual Portfolio, Inc.
Top Ten Holdings, as of April 30, 2010

1. SSgA Money Market Fund
2. SPDR Gold Trust
3. Switzerland Government, 2.5% Notes, due 3/12/16
4. iShares Silver Trust
5. Cisco Systems, Inc.
6. Southern Copper Corp.
7. Oracle Corp.
8. El DuPont de Nemours & Co.
9. Berkshire Hathaway, Inc. Class B
10. Schlumberger Ltd.

Top ten holdings comprise approximately 78% of total assets.

Holdings are subject to change.

The above portfolio information should not be considered as a recommendation to purchase or sell a particular security and there is no assurance that any securities will remain in or out of the Fund.

Welcome to Midas Funds’ Blog!

2010-02-23T14:15:00.000-05:00

This blog is an extension of the Midas Funds website http://www.midasfunds.com/. The top ten holdings and quarterly commentaries for Midas Fund, Midas Special Fund, and Midas Perpetual Portfolio will be periodically added to this blog. This site will also include information regarding media appearances, teleconferences, investment products, gold mutual funds, gold investing, and gold bullion. Please read the prospectus carefully before you invest or send money. To open an account with Midas, please click here.

Thank you for your interest in Midas Funds!

Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost.

One of Midas’ guiding principles is that we will communicate with our shareholders as candidly as possible because we believe shareholders benefit from understanding our investment philosophy and approach. Our views and opinions regarding the prospects of our portfolio holdings, Funds, and the economy are “forward looking statements” which may or may not be accurate and may be materially different over future periods. We disclaim any obligation to update or alter any forward looking statements, whether as a result of new information, future events, or otherwise. Thus, you should not place undue reliance on forward looking statements, which also speak only as of the date of the Midas communication.

Midas Fund invests in securities of companies involved in the business of mining, processing, fabricating, distributing or otherwise dealing in natural resources and precious metals. The Fund is subject to risks associated with concentration, foreign investment, leverage, market fluctuations, mining, natural resources and precious metals investing, non-diversification, short selling, options, and futures transactions, and small capitalization investing.

You should carefully consider the investment objectives, risks, charges and expenses of the Midas Funds by reading the prospectus carefully before investing or sending money. For investment risks associated with the Funds, please read "Principal Investment Objectives, Strategies and Risks," and "Additional Investment Risks" in the free prospectus, which contains this and other important information about the Midas Funds. To obtain a copy of the prospectus, please contact us at 1-800-400-MIDAS (6432) or download at http://midasfunds.com/Midas-Funds-Prospectus.html.

Investment products, including shares of mutual funds, are not federally or FDIC insured, are not deposits or obligations of, or guaranteed by, any financial institution and involve investment risk, including possible loss of principal and fluctuation in value. Consult with your tax advisor or attorney regarding specific tax issues.

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