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 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	$22.4K	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

Fidelity Investments Boston, Massachusetts $1.9T AUM 41.92% 1-Year Est. Return

FFH

Fairfax Financial Holdings Toronto, Ontario, Canada $1.94B AUM 27.76% 1-Year Est. Return

VanEck Associates New York $133B AUM 72.99% 1-Year Est. Return

VCM

Vanguard Capital Management Malvern, Pennsylvania $4.04T AUM

Connor, Clark & Lunn Investment Management (CC&L) Vancouver, British Columbia, Canada $43.4B AUM 51.29% 1-Year Est. Return

Franklin Resources San Mateo, California $408B AUM 30.18% 1-Year Est. Return

Royal Bank of Canada Toronto, Ontario, Canada $570B AUM 27.57% 1-Year Est. Return

Fidelity International Hamilton, Bermuda $129B AUM 30.83% 1-Year Est. Return

Invesco Atlanta, Georgia $1.02T AUM 30.18% 1-Year Est. Return

First Eagle Investment Management New York $59B AUM 32.99% 1-Year Est. Return

Merk Investments's ORLA Position: Q1 2026 in Review

Merk Investments held its Orla Mining (ORLA) position steady in Q1 2026 at 6,200,000 shares worth $100M. The position accounts for 27.18% of the portfolio, ranked #2.

Merk Investments first reported a position in ORLA in Q1 2021 and has held it in 21 quarters since. 195 funds tracked by Wall St. Rank hold ORLA as of Q1 2026.

Merk Investments held 6,200,000 shares of Orla Mining worth $100M as of Q1 2026.
Merk Investments left its Orla Mining share count unchanged in Q1 2026.
Orla Mining made up 27.18% of Merk Investments's portfolio in Q1 2026, its #2 holding.
Merk Investments first reported a position in Orla Mining in Q1 2021 and has held it in 21 quarters since.
195 funds tracked by Wall St. Rank held Orla Mining as of Q1 2026.

Based on Merk Investments's 13F filing for Q1 2026, filed 18 May 2026.