Merk Investments LLC — 13F Holdings & Portfolio
CIK 1302842 · latest 13F-HR filed 2026-05-18
Merk Investments LLC manages $367.9M in 13F-reported U.S. long-equity assets across 11 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are USAS (27.52%), ORLA (27.18%), EQX (19.24%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 1 new position, exited 0, added to 4, and trimmed 4.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$367.9M
Long-equity book
11
Distinct positions
2026-03-31
Filed 2026-05-18
+1 / −0 / ↑4 / ↓4
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- ORLA MNG LTD NEW$16.5M +19.7%
- AGNICO EAGLE MINES LTD$2.7M +19.7%
- ALAMOS GOLD INC$2.6M +15.2%
- VANECK MERK GOLD ETF$592.2K +62.4%
Top Trims
- AMERICAS GOLD AND SILVER COR-$18.5M -15.5%
- NEW FOUND GOLD CORP-$5.2M -36.8%
- METALLA RTY & STREAMING LTD-$3.5M -14.8%
- INTEGRA RES CORP-$3.3M -31.9%
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | AMERICAS GOLD AND SILVER COR | USAS | 03062D803 | $101.2M | 27.52% | 19,392,000 | SH |
| 2 | ORLA MNG LTD NEW | ORLA | 68634K106 | $100.0M | 27.18% | 6,200,000 | SH |
| 3 | EQUINOX GOLD CORP | EQX | 29446Y502 | $70.8M | 19.24% | 4,900,000 | SH |
| 4 | ALAMOS GOLD INC | AGI | 011532108 | $20.0M | 5.43% | 450,000 | SH |
| 5 | METALLA RTY & STREAMING LTD | MTA | 59124U605 | $19.9M | 5.41% | 3,000,000 | SH |
| 6 | AGNICO EAGLE MINES LTD | AEM | 008474108 | $16.2M | 4.41% | 80,000 | SH |
| 7 | VERSAMET ROYALTIES CORP | VMET | 92528V200 | $13.3M | 3.61% | 1,400,000 | SH |
| 8 | B2GOLD CORP | BTG | 11777Q209 | $9.1M | 2.46% | 2,000,000 | SH |
| 9 | NEW FOUND GOLD CORP | NFGC | 64440N103 | $8.9M | 2.41% | 4,750,000 | SH |
| 10 | INTEGRA RES CORP | ITRG | 45826T509 | $7.0M | 1.90% | 2,562,526 | SH |
| 11 | VANECK MERK GOLD ETF | OUNZ | 921078101 | $1.5M | 0.42% | 34,200 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-18 | $367.9M | 11 | 0001420506-26-001171 |
| 2025-12-31 | 2026-02-13 | $360.7M | 10 | 0001420506-26-000380 |
| 2025-09-30 | 2025-11-14 | $324.9M | 11 | 0001420506-25-003403 |