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Merk Investments LLC

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13F filer, CIK 1302842, PALO ALTO, CA

Merk Investments LLC reported $367,874,488 across 11 holdings for the quarter ended 2026-03-31, in a 13F-HR filed 2026-05-18. Its ten largest share positions make up 99.58% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001420506-26-001171

Period
2026-03-31
Reported value
$368M
Holdings
11
Top 10 weight
99.58%
New
1
Sold out
0

Largest buys vs the previous quarter

SecurityShares changeApprox. value
VMETnew+1,400,000$13.3M
OUNZadded+11,333$511K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
USASreduced-4,037,000-$21.1M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2026

Share positions as resolved from 13F-HR 0001420506-26-001171, largest first. % of portfolio is the value over $367,874,488, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
USASAMERICAS GOLD AND SILVER CORQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 25,679,000 shares; 2025Q4: 23,429,000 shares; 2026Q1: 19,392,000 shares 19,392,000$101M27.52%-4,037,000Timeline
ORLAORLA MNG LTD NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 6,200,000 shares; 2024Q4: 6,200,000 shares; 2025Q1: 6,200,000 shares; 2025Q2: 6,200,000 shares; 2025Q3: 6,200,000 shares; 2025Q4: 6,200,000 shares; 2026Q1: 6,200,000 shares 6,200,000$100M27.18%0Timeline
EQXEQUINOX GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 4,900,000 shares; 2025Q3: 4,900,000 shares; 2025Q4: 4,900,000 shares; 2026Q1: 4,900,000 shares 4,900,000$70.8M19.24%0Timeline
AGIALAMOS GOLD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,000,000 shares; 2024Q4: 1,000,000 shares; 2025Q1: 1,000,000 shares; 2025Q2: 1,000,000 shares; 2025Q3: 750,000 shares; 2025Q4: 450,000 shares; 2026Q1: 450,000 shares 450,000$20M5.43%0Timeline
MTAMETALLA RTY & STREAMING LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 2,228,811 shares; 2024Q4: 3,000,000 shares; 2025Q1: 3,000,000 shares; 2025Q2: 3,000,000 shares; 2025Q3: 3,000,000 shares; 2025Q4: 3,000,000 shares; 2026Q1: 3,000,000 shares 3,000,000$19.9M5.41%0Timeline
AEMAGNICO EAGLE MINES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 165,000 shares; 2024Q4: 165,000 shares; 2025Q1: 165,000 shares; 2025Q2: 165,000 shares; 2025Q3: 140,000 shares; 2025Q4: 80,000 shares; 2026Q1: 80,000 shares 80,000$16.2M4.41%0Timeline
VMETVERSAMET ROYALTIES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 1,400,000 shares 1,400,000$13.3M3.61%newTimeline
BTGB2GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 2,000,000 shares; 2024Q4: 2,000,000 shares; 2025Q1: 2,000,000 shares; 2025Q2: 2,000,000 shares; 2025Q3: 2,000,000 shares; 2025Q4: 2,000,000 shares; 2026Q1: 2,000,000 shares 2,000,000$9.06M2.46%0Timeline
NFGCNEW FOUND GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 2,350,000 shares; 2025Q4: 4,750,000 shares; 2026Q1: 4,750,000 shares 4,750,000$8.88M2.41%0Timeline
ITRGINTEGRA RES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 5,524,510 shares; 2024Q4: 5,524,510 shares; 2025Q1: 5,524,510 shares; 2025Q2: 5,524,510 shares; 2025Q3: 3,999,999 shares; 2025Q4: 2,562,526 shares; 2026Q1: 2,562,526 shares 2,562,526$6.99M1.9%0Timeline
OUNZVANECK MERK GOLD ETFQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 14,392 shares; 2024Q4: 19,763 shares; 2025Q1: 12,794 shares; 2025Q2: 19,249 shares; 2025Q3: 26,604 shares; 2025Q4: 22,867 shares; 2026Q1: 34,200 shares 34,200$1.54M0.42%+11,333Timeline

How Q1 2026 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001420506-26-001171 base2026-05-18acceptance time not in the bulk data set