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MI

Merk Investments Portfolio holdings

AUM $368M
1-Year Est. Return 152.26%
This Fund
S&P 500
This Quarter Est. Return
+17.62%
1 Year Est. Return
+152.26%
3 Year Est. Return
+337.51%
5 Year Est. Return
+400.35%
10 Year Est. Return
–
AUM
$246M
AUM Growth
+$62.7M
Cap. Flow
+$32M
Cap. Flow %
13.02%
Top 10 Hldgs %
99.75%
Holding
11
New
1
Increased
1
Reduced
–
Closed
–

Top Buys

Rank Stock Value
1
EQX icon
Equinox Gold
EQX
+$31.8M
2
OUNZ icon
VanEck Merk Gold Trust
OUNZ
+$204K

Top Sells

No sells this quarter

Sector Composition

Rank Sector Weight
1 Materials 99.75%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ORLA
1
DELISTED
Orla Mining
ORLA
$62.1M 25.24%
6,200,000
– –
USAS
2
Americas Gold and Silver
USAS
$1.62B
$57.5M 23.35%
28,460,411
– –
EQX icon
3
Equinox Gold
EQX
$8.14B
$28.3M 11.49%
+4,900,000
New +$31.8M
AGI icon
4
Alamos Gold
AGI
$13.1B
$26.6M 10.79%
1,000,000
– –
AEM icon
5
Agnico Eagle Mines
AEM
$83.8B
$19.6M 7.97%
165,000
– –
AU icon
6
AngloGold Ashanti
AU
$44.8B
$12.5M 5.09%
275,000
– –
GFI icon
7
Gold Fields
GFI
$33.4B
$11.8M 4.81%
500,000
– –
MTA
8
Metalla Royalty & Streaming
MTA
$784M
$11.5M 4.68%
3,000,000
– –
ITRG
9
Integra Resources
ITRG
$485M
$8.31M 3.38%
5,524,510
– –
BTG icon
10
B2Gold
BTG
$5.46B
$7.22M 2.93%
2,000,000
– –
OUNZ icon
11
VanEck Merk Gold Trust
OUNZ
$2.63B
$614K 0.25%
19,249
+6,455
+50% +$204K

Similar funds

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Westerly Capital Management San Francisco, California $368M AUM 42.67% 1-Year Est. Return
ACA
AYAL Capital Advisors Toronto, Ontario, Canada $369M AUM 39.67% 1-Year Est. Return
V
ValueWorks New York $367M AUM 59.38% 1-Year Est. Return
CWM
CCG Wealth Management San Diego, California $369M AUM 22.43% 1-Year Est. Return
NWM
Northcape Wealth Management Williamsville, New York $367M AUM 21.03% 1-Year Est. Return
PCM
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LP
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MB
Mizuho Bank Tokyo, Japan $369M AUM 53.09% 1-Year Est. Return

Merk Investments's Q2 2025 Portfolio in Review

As of Q2 2025, Merk Investments held 11 positions worth $246M, up 34% from $183M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Merk Investments deployed $32M of net new capital in Q2 2025, opening 1 new position and adding to 1 existing holding. Its largest new stake was Equinox Gold: 4,900,000 shares worth $28.3M.

By sector, the portfolio is most concentrated in Materials at 100% of assets, down from 100% a quarter earlier.

  • Merk Investments's largest Q2 2025 buy was Equinox Gold: 4,900,000 shares worth $28.3M.
  • Merk Investments added most to VanEck Merk Gold Trust in Q2 2025, an estimated $204K increase.
  • Merk Investments's ten largest holdings make up 100% of its $246M portfolio in Q2 2025.
  • Merk Investments opened 1 new position and closed 0 in Q2 2025.
  • Merk Investments's portfolio value rose 34% quarter-over-quarter to $246M.

Based on Merk Investments's 13F filing for Q2 2025, filed 14 Aug 2025.