2026 Q1 Portfolio Activity
In 2026 Q1, Merk Investments LLC maintained a portfolio of 11 distinct positions. The most significant new addition was VERSAMET ROYALTIES CORP, now representing 3.61% of the total fund value. They heavily accumulated shares in VANECK MERK GOLD ETF, increasing the position by 49.6%.
Position History
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Total Positions
11
Quarter
2026 Q1
Top Holding
USAS (27.5%)
Top 10 Concentration
99.6%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-11 of 11
Merk Investments LLC Full Holdings List — 2026 Q1
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
USAS
AMERICAS GOLD A...
|
Basic Materials | 27.52% | 33.20% |
#1
Prev: #1
|
6.5 |
—
|
-4,037,000 | -17.2% |
P
S
|
19,392,000 | $101,224,697 |
$1.65
+224.3%
|
2019 Q4 | 13F Filing | 2026-03-31 | 2026-05-18 | ||
|
ORLA
ORLA MNG LTD NE...
|
Basic Materials | 27.18% | 23.15% |
#2
Prev: #2
|
6.5 |
—
|
no change | no change |
P
S
|
6,200,000 | $100,006,000 |
$3.71
nan%
|
2021 Q1 | 13F Filing | 2026-03-31 | 2026-05-18 | ||
|
EQX
EQUINOX GOLD CO...
|
Basic Materials | 19.24% | 19.09% |
#3
Prev: #3
|
6.0 |
—
|
no change | no change |
P
S
|
4,900,000 | $70,764,862 |
$5.74
+83.2%
|
2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-18 | ||
|
AGI
ALAMOS GOLD INC
|
Basic Materials | 5.43% | 4.81% |
#4
1
Prev: #5
|
3.7 |
—
|
no change | no change |
P
S
|
450,000 | $19,993,500 | 2019 Q4 | 13F Filing | 2026-03-31 | 2026-05-18 | |||
|
MTA
METALLA RTY & S...
|
Basic Materials | 5.41% | 6.47% |
#5
1
Prev: #4
|
3.7 |
—
|
no change | no change |
P
S
|
3,000,000 | $19,890,000 | 2024 Q1 | 13F Filing | 2026-03-31 | 2026-05-18 | |||
|
AEM
AGNICO EAGLE MI...
|
Basic Materials | 4.41% | 3.76% |
#6
1
Prev: #7
|
2.8 |
—
|
no change | no change |
P
S
|
80,000 | $16,238,400 | 2019 Q4 | 13F Filing | 2026-03-31 | 2026-05-18 | |||
|
N/A
VERSAMET ROYALT...
|
|
Unknown | 3.61% | — |
#7
Prev: #—
|
4.9 |
—
|
1,400,000 | — |
NEW
|
1,400,000 | $13,284,451 | — | 13F Filing | 2026-03-31 | 2026-05-18 | ||
|
BTG
B2GOLD CORP
|
Basic Materials | 2.46% | 2.50% |
#8
1
Prev: #9
|
2.0 |
—
|
no change | no change |
P
S
|
2,000,000 | $9,060,000 | 2019 Q4 | 13F Filing | 2026-03-31 | 2026-05-18 | |||
|
NFGC
NEW FOUND GOLD ...
|
Basic Materials | 2.41% | 3.90% |
#9
3
Prev: #6
|
2.0 |
—
|
no change | no change |
P
S
|
4,750,000 | $8,877,866 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-18 | |||
|
ITRG
INTEGRA RES COR...
|
Basic Materials | 1.90% | 2.85% |
#10
2
Prev: #8
|
1.8 |
—
|
no change | no change |
P
S
|
2,562,526 | $6,994,002 | 2023 Q2 | 13F Filing | 2026-03-31 | 2026-05-18 | |||
|
OUNZ
VANECK MERK GOL...
|
ETF | 0.42% | 0.26% |
#11
1
Prev: #10
|
2.7 |
—
|
11,333 | 49.6% |
P
S
|
34,200 | $1,540,710 | 2019 Q4 | 13F Filing | 2026-03-31 | 2026-05-18 |
Showing 1-11 of 11 holdings