Q2 2026 13F · SEC CIK 1302842
Merk Investments LLC
Hedge fundFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗
- Reported 13F value
- $313.5M
- Reported positions
- 11
- Top holdings a year, 3 yrs
- +43.8%
- Assets under management
- $2.5B
Merk Investments LLC is a hedge fund that reported 11 positions worth $313.5M in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Americas Gold and Silver Cor (USAS, 29.2%), Orla Mng Ltd New (ORLA, 21.9%), Equinox Gold Corp (EQX, 15.2%). A portfolio copying its top holdings returned 43.8% a year over the last 3 years, against 20.4% for the S&P 500.
Merk Investments LLC holdings all 11 positions.
Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.
| Stock | % of 13F value | Share change | Reported value |
|---|---|---|---|
| USASAmericas Gold and Silver Cor | 29.2% | +0.0% | $91.5M |
| ORLAOrla Mng Ltd New | 21.9% | +12.9% | $68.5M |
| EQXEquinox Gold Corp | 15.2% | +0.0% | $47.7M |
| NFGCNew Found Gold Corp | 8.0% | +243.4% | $25.2M |
| MTAMetalla Royalty & Streaming | 7.3% | +0.0% | $22.8M |
| VMETVersamet Royalties Corp | 5.5% | +0.0% | $17.2M |
| AGIAlamos Gold Inc | 4.4% | +0.0% | $13.7M |
| AEMAgnico Eagle Mines Ltd | 4.0% | +0.0% | $12.4M |
| BTGB2gold Corp | 2.4% | +0.0% | $7.5M |
| ITRGIntegra Res Corp | 1.9% | +0.0% | $5.8M |
| OUNZVaneck Merk Gold ETF | 0.4% | -12.9% | $1.1M |
What Merk Investments LLC bought and sold in Q2 2026, against Q1 2026.
New positions
No new positions among the largest holdings.
Added to
- NFGC New Found Gold Corp+243.4% shares
- ORLA Orla Mng Ltd New+12.9% shares
Reduced
- OUNZ Vaneck Merk Gold ETF-12.9% shares
Sold out
Nothing sold out.
Share counts compared with the Q1 2026 13F; a split also changes share counts.
How the holdings did against the S&P 500.
- 1 year
- +45.7% /yr
- S&P 500 +20.1%
- 3 years
- +43.8% /yr
- S&P 500 +20.4%
- 5 years
- +24.5% /yr
- S&P 500 +11.6%
A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.
Reported 13F value by quarter.
| Quarter | 13F value | Positions |
|---|---|---|
| Q2 2026 | $313.5M | 11 |
| Q1 2026 | $367.9M | 11 |
| Q4 2025 | $360.7M | 10 |
| Q3 2025 | $324.9M | 11 |
| Q2 2025 | $246.1M | 11 |
| Q1 2025 | $183.4M | 10 |
| Q4 2024 | $97.4M | 10 |
| Q3 2024 | $105.6M | 11 |
| Q2 2024 | $89.7M | 12 |
| Q1 2024 | $89.6M | 13 |
| Q4 2023 | $94.0M | 14 |
| Q3 2023 | $88.5M | 14 |
Questions about Merk Investments LLC's portfolio
What stocks does Merk Investments LLC own?
Merk Investments LLC's latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 11 positions worth $313.5M. The largest are Americas Gold and Silver Cor (USAS) at 29.2%, Orla Mng Ltd New (ORLA) at 21.9%, Equinox Gold Corp (EQX) at 15.2%, New Found Gold Corp (NFGC) at 8.0% and Metalla Royalty & Streaming (MTA) at 7.3%.
What did Merk Investments LLC buy last quarter?
In Q2 2026, Merk Investments LLC added New Found Gold Corp (NFGC) (+243.4% shares) and Orla Mng Ltd New (ORLA) (+12.9% shares), compared with its Q1 2026 filing.
What did Merk Investments LLC sell last quarter?
In Q2 2026, Merk Investments LLC Vaneck Merk Gold ETF (OUNZ) (-12.9% shares), compared with its Q1 2026 filing.
How has Merk Investments LLC's portfolio performed?
A portfolio copying Merk Investments LLC's 20 largest 13F holdings each quarter, from the day each filing was public, returned +43.8% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +45.7% against +20.1%. Over 5 years: +24.5% a year against +11.6%.
When is Merk Investments LLC's next 13F filing due?
13F filings are due 45 days after each quarter ends. Merk Investments LLC's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.
How much money does Merk Investments LLC manage?
Merk Investments LLC reported $2.5B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $313.5M.