Merk Investments’s Orla Mining ORLA Stock Holding History

Merk Investments’s Portfolio ORLA Stock Details ORLA Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q2	$68.5M	Buy	7,000,000 +800,000	+13%	+$10.6M	21.86%	2
2026 Q1	$100M	Hold	6,200,000	–	–	27.18%	2
2025 Q4	$83.5M	Hold	6,200,000	–	–	23.15%	2
2025 Q3	$67M	Hold	6,200,000	–	–	20.61%	2
2025 Q2	$62.1M	Hold	6,200,000	–	–	25.24%	1
2025 Q1	$58M	Hold	6,200,000	–	–	31.6%	1
2024 Q4	$34.3M	Hold	6,200,000	–	–	35.27%	1
2024 Q3	$24.8M	Hold	6,200,000	–	–	23.48%	1
2024 Q2	$23.8M	Hold	6,200,000	–	–	26.56%	1
2024 Q1	$23.5M	Hold	6,200,000	–	–	26.21%	1
2023 Q4	$20.2M	Hold	6,200,000	–	–	21.51%	1
2023 Q3	$21.9M	Sell	6,200,000 -700,000	-10%	-$3.11M	24.75%	1
2023 Q2	$29M	Hold	6,900,000	–	–	22.97%	1
2023 Q1	$32.7M	Sell	6,900,000 -300,000	-4%	-$1.28M	28.44%	1
2022 Q4	$29.1M	Hold	7,200,000	–	–	26.38%	1
2022 Q3	$23.5M	Sell	7,200,000 -1,000,000	-12%	-$3.07M	23.12%	1
2022 Q2	$22.4M	Hold	8,200,000	–	–	5.06%	6
2022 Q1	$39.2M	Hold	8,200,000	–	–	21.87%	1
2021 Q4	$31.3M	Hold	8,200,000	–	–	21.41%	1
2021 Q3	$27.1M	Hold	8,200,000	–	–	20.49%	1
2021 Q2	$33.9M	Hold	8,200,000	–	–	22.13%	1
2021 Q1	$30.5M	Buy	+8,200,000	New	+$34.4M	19.1%	1

Other funds holding ORLA

FFH

Fairfax Financial Holdings Toronto, Ontario, Canada $2.64B AUM 24.46% 1-Year Est. Return

Fidelity Investments Boston, Massachusetts $2.3T AUM 54.33% 1-Year Est. Return

VanEck Associates New York $164B AUM 112.45% 1-Year Est. Return

Vanguard Capital Management Malvern, Pennsylvania $4.68T AUM

Franklin Resources San Mateo, California $462B AUM 39.16% 1-Year Est. Return

Connor, Clark & Lunn Investment Management (CC&L) Vancouver, British Columbia, Canada $52.8B AUM 58.98% 1-Year Est. Return

Millennium Management New York $276B AUM 44.8% 1-Year Est. Return

Royal Bank of Canada Toronto, Ontario, Canada $672B AUM 33.48% 1-Year Est. Return

First Eagle Investment Management New York $60.8B AUM 26.63% 1-Year Est. Return

D.E. Shaw & Co New York $210B AUM 57.28% 1-Year Est. Return

Merk Investments's ORLA Position: Q2 2026 in Review

Merk Investments increased its Orla Mining (ORLA) stake by 13% in Q2 2026, buying an estimated $10.6M and bringing the position to 7,000,000 shares worth $68.5M. The position accounts for 21.86% of the portfolio, ranked #2.

Merk Investments first reported a position in ORLA in Q1 2021 and has held it in 22 quarters since. The position peaked at $100M in Q1 2026. 215 funds tracked by Wall St. Rank hold ORLA as of Q2 2026.

Merk Investments held 7,000,000 shares of Orla Mining worth $68.5M as of Q2 2026.
Merk Investments bought 800,000 Orla Mining shares in Q2 2026, an estimated $10.6M.
Orla Mining made up 21.86% of Merk Investments's portfolio in Q2 2026, its #2 holding.
Merk Investments first reported a position in Orla Mining in Q1 2021 and has held it in 22 quarters since.
Merk Investments's Orla Mining position peaked at $100M in Q1 2026.
215 funds tracked by Wall St. Rank held Orla Mining as of Q2 2026.

Based on Merk Investments's 13F filing for Q2 2026, filed 14 Aug 2026.