Merk Investments LLC
CIK
1302842
Location
PALO ALTO, CA
Portfolio Value
Small
$368,333,545
Diversification
Moderately concentrated
Filing Date
Global Rank
#2,783
/ 8,232
▲ 185
Top Industry
Gold
61.4%
3Y Alpha vs SPY
+21.9%
Period ended 2 months ago
Filed May 18, 2026 · 26d
25 quarters · since Mar 2020
Clone Performance
Jun 2023–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+190.9%
SPY
+76.5%
Annualised alpha
+21.9%
Max drawdown
−49.3%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
11 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
27.5%
−5.7 pts
Top 5
84.7%
−2.0 pts
Top 10
99.6%
−0.4 pts
HHI
1,970
Moderately concentrated−141
Portfolio Trend
25 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Basic Materials | 99.6% | $366,792,835 |
| Unclassified | 0.4% | $1,540,710 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
1 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| OUNZ | VanEck Merk Gold ETF | +11,333 | 34,200 | $1,540,710 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
1 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| USAS | Americas Gold & Silver Corp | −4,037,000 | 19,392,000 | $101,226,240 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
1 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| VMET | Versamet Royalties Corp | 1,400,000 | $13,314,000 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exitedNo qualifying positions this quarter.
11 positions ·
$368,333,545 total
· as of Mar 31, 2026
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| USAS |
Americas Gold & Silver Corp
Basic Materials
|
Reduced | 19,392,000 | $101,226,240 | 27.48% | |
| ORLA |
Orla Mining Ltd.
Basic Materials
|
Held | 6,200,000 | $100,006,000 | 27.15% | |
| EQX |
Equinox Gold Corp.
Basic Materials
|
Held | 4,900,000 | $70,854,000 | 19.24% | |
| AGI |
Alamos Gold Inc
Basic Materials
|
Held | 450,000 | $19,993,500 | 5.43% | |
| MTA |
Metalla Royalty & Streaming Ltd.
Basic Materials
|
Held | 3,000,000 | $19,890,000 | 5.40% | |
| AEM |
Agnico Eagle Mines Ltd
Basic Materials
|
Held | 80,000 | $16,238,400 | 4.41% | |
| VMET |
Versamet Royalties Corp
Basic Materials
|
NEW | 1,400,000 | $13,314,000 | 3.61% | |
| NFGC |
New Found Gold Corp.
Basic Materials
|
Held | 4,750,000 | $9,215,000 | 2.50% | |
| BTG |
B2gold Corp
Basic Materials
|
Held | 2,000,000 | $9,060,000 | 2.46% | |
| ITRG |
Integra Resources Corp.
Basic Materials
|
Held | 2,562,526 | $6,995,695 | 1.90% | |
| OUNZ |
VanEck Merk Gold ETF
|
Added | 34,200 | $1,540,710 | 0.42% |