Merk Investments
PALO ALTO, CAfiles as Merk Investments LLC
$314m in 11 US stocks at the end of 30 June 2026. The top 10 are 99.6% of the money. It changed about 11.0% of the portfolio this quarter.
Value
$314m
Stocks
11
Top 10 share
99.6%
Turnover
11.0%
What changed this quarter
New
Bought for the first time this quarter.
None this quarter.
Added
Bought more of a stock they already held.
- Orla MNG LTD NewORLA21.9% of the fund+13%
- New Found GoldNFGC8.0% of the fund+243%
Cut
Sold some of their stake.
- Vaneck Merk Gold ETFOUNZ0.4% of the fund-13%
Sold out
Sold their entire stake.
None this quarter.
Holdings
- Americas Gold & SilverUSAS
- Share
- 29.2%
- Value
- $92m
- Shares
- 19,392,000
Held
- Orla MNG LTD NewORLA
- Share
- 21.9%
- Value
- $69m
- Shares
- 7,000,000
+13%
- Equinox GoldEQX
- Share
- 15.2%
- Value
- $48m
- Shares
- 4,900,000
Held
- New Found GoldNFGC
- Share
- 8.0%
- Value
- $25m
- Shares
- 16,312,500
+243%
- Metalla Royalty & StreamingMTA
- Share
- 7.3%
- Value
- $23m
- Shares
- 3,000,000
Held
- Alamos GoldAGI
- Share
- 4.4%
- Value
- $14m
- Shares
- 450,000
Held
- Agnico Eagle MinesAEM
- Share
- 4.0%
- Value
- $12m
- Shares
- 80,000
Held
- B2goldBTG
- Share
- 2.4%
- Value
- $7m
- Shares
- 2,000,000
Held
- Integra ResourcesITRG
- Share
- 1.9%
- Value
- $6m
- Shares
- 2,562,526
Held
- Vaneck Merk Gold ETFOUNZ
- Share
- 0.4%
- Value
- $1m
- Shares
- 29,794
-13%
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Americas Gold & SilverUSAS | 29.2% | $92m | 19,392,000 | Held |
| Orla MNG LTD NewORLA | 21.9% | $69m | 7,000,000 | +13% |
| Equinox GoldEQX | 15.2% | $48m | 4,900,000 | Held |
| New Found GoldNFGC | 8.0% | $25m | 16,312,500 | +243% |
| Metalla Royalty & StreamingMTA | 7.3% | $23m | 3,000,000 | Held |
| Versamet RoyaltiesVMET | 5.5% | $17m | 1,400,000 | Held |
| Alamos GoldAGI | 4.4% | $14m | 450,000 | Held |
| Agnico Eagle MinesAEM | 4.0% | $12m | 80,000 | Held |
| B2goldBTG | 2.4% | $7m | 2,000,000 | Held |
| Integra ResourcesITRG | 1.9% | $6m | 2,562,526 | Held |
| Vaneck Merk Gold ETFOUNZ | 0.4% | $1m | 29,794 | -13% |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 27.4% since 30 June 2025.
Where the money is
Materials72.3%
Financial services5.5%
Other22.2%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.