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Merk Investments LLC
hedge fundUpdated 27 days agoManaged by Merk Investments Llc • Latest filing Q2 2026
Portfolio value
$313.5M
Q2 2026
Filings
14
Quarterly 13F history
Top-10 concentration
100.0%
Weight of largest holdings
Annualized return
36.1%
Implied from 13F holdings
Portfolio value history
13F-disclosed portfolio value over 14 quarters
Show data table
| Period | Portfolio value |
|---|---|
| Q1 2023 | $115.1M |
| Q2 2023 | $126.1M |
| Q3 2023 | $88.5M |
| Q4 2023 | $94M |
| Q1 2024 | $89.6M |
| Q2 2024 | $89.7M |
| Q3 2024 | $105.6M |
| Q4 2024 | $97.4M |
| Q1 2025 | $183.4M |
| Q2 2025 | $246.1M |
| Q3 2025 | $324.9M |
| Q4 2025 | $360.7M |
| Q1 2026 | $367.9M |
| Q2 2026 | $313.5M |
Top holdings
11 positions as of Q2 2026
| # | Stock | Value | Shares | % Portfolio | Change |
|---|---|---|---|---|---|
| 1 | U USAS AMERICAS GOLD AND SILVER COR | $91.5M | 19.39M | 29.20% | Unchanged |
| 2 | O ORLA ORLA MNG LTD NEW | $68.5M | 7.00M | 21.86% | Added(+12.9%) |
| 3 | E EQX EQUINOX GOLD CORP | $47.7M | 4.90M | 15.23% | Unchanged |
| 4 | N NFGC NEW FOUND GOLD CORP | $25.2M | 16.31M | 8.03% | Added(+243.4%) |
| 5 | M MTA METALLA RTY & STREAMING LTD | $22.8M | 3.00M | 7.28% | Unchanged |
| 6 | V VMET VERSAMET ROYALTIES CORP | $17.2M | 1.40M | 5.48% | Unchanged |
| 7 | A AGI ALAMOS GOLD INC | $13.7M | 450.0K | 4.35% | Unchanged |
| 8 | A AEM AGNICO EAGLE MINES LTD | $12.4M | 80.0K | 3.96% | Unchanged |
| 9 | B BTG B2GOLD CORP | $7.5M | 2.00M | 2.39% | Unchanged |
| 10 | I ITRG INTEGRA RES CORP | $5.8M | 2.56M | 1.85% | Unchanged |
| 11 | O OUNZ VANECK MERK GOLD ETF | $1.1M | 29.8K | 0.37% | Trimmed(-12.9%) |