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Merk Investments LLC
Merk Investments LLC is an SEC-registered investment advisory firm headquartered in Menlo Park, California, though it has also previously listed addresses in Palo Alto, CA. Founded in December 2000 by Alexander 'Axel' Merk, the firm specializes in managing assets for investment companies, exchange-traded products (ETPs), and pooled vehicles. With about 7 employees as of early 2025, Merk primarily serves institutional investors and sophisticated clients with alternative investment solutions focusing on risk-adjusted returns.
Investment Strategy
Merk Investments aims to deliver superior risk-adjusted returns, focusing on liquid global markets—including equities, fixed income, commodities, and currencies. The firm invests through both discretionary and non-discretionary mandates, often via ETPs and pooled vehicles. Its approach uses alternative strategies designed to deliver uncorrelated returns, relying on in-depth analysis of domestic and international markets and their derivatives. Merk does not tailor strategies for individual investors but follows the objectives outlined in each product’s prospectus.
Latest 13F Filing Activity
Merk Investments LLC filed their most recent 13F report on Jun 30, 2025 disclosing 11 equity positions with a total 13F market value of $246M. The fund increased holdings in Equinox Gold Corp., Americas Gold and Silver Cor, Orla MNG LTD New among other positions. Merk Investments LLC reduced exposure to Alamos Gold Inc. New, Vaneck Merk Gold Etf, Gold Fields LTD among others.
Top Holdings
Equity Positions (11)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
O ORLA | ORLA MNG LTD NEW | 25.24% | $62.1M | 6,200,000 | $3.71 | $10.02 | +$4.2M |
U USAS | AMERICAS GOLD AND SILVER COR | 23.35% | $57.5M | 71,151,028 | $0.61 | $0.81 | +$19.4M |
E EQX | EQUINOX GOLD CORP | 11.49% | $28.3M | 4,900,000 | $5.75 | $5.75 | +$28.3M |
A AGI | ALAMOS GOLD INC NEW | 10.79% | $26.6M | 1,000,000 | $6.02 | $26.56 | -$180.0K |
A AEM | AGNICO EAGLE MINES LTD | 7.97% | $19.6M | 165,000 | $61.61 | $118.93 | +$1.7M |
Industry Allocation
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