Merk Investments LLC Long-Term Concentrated

CIK: 0001302842 · Show all filings

Period: Q2 2025 (← Previous) (Next →)

Filing Date: Aug 14, 2025

Total Value ($000): $246,087 (100.0% shares, 0.0% debt)

Holdings (11)

ORLA ORLA MNG LTD NEW 25.2%

Value ($000) $62,124 Shares 6,200,000 Est. Cost $4.19 Unrealized +148.1%

— AMERICAS GOLD AND SILVER COR 23.4%

Value ($000) $57,469 Shares 71,151,028 Est. Cost $0.62 Unrealized —

EQX EQUINOX GOLD CORP 11.5%

Value ($000) $28,283 Shares 4,900,000 Est. Cost $6.50 Unrealized 0.0%

AGI ALAMOS GOLD INC NEW 10.8%

Value ($000) $26,560 Shares 1,000,000 Est. Cost $5.19 Unrealized +415.0%

AEM AGNICO EAGLE MINES LTD 8.0%

Value ($000) $19,623 Shares 165,000 Est. Cost $50.36 Unrealized +128.8%

AU ANGLOGOLD ASHANTI PLC 5.1%

Value ($000) $12,532 Shares 275,000 Est. Cost $17.52 Unrealized +139.1%

GFI GOLD FIELDS LTD 4.8%

Value ($000) $11,835 Shares 500,000 Est. Cost $8.22 Unrealized —

MTA METALLA RTY & STREAMING LTD 4.7%

Value ($000) $11,520 Shares 3,000,000 Est. Cost $3.00 Unrealized +6.2%

ITRG INTEGRA RES CORP 3.4%

Value ($000) $8,307 Shares 5,524,510 Est. Cost $0.77 Unrealized +107.0%

BTG B2GOLD CORP 2.9%

Value ($000) $7,220 Shares 2,000,000 Est. Cost $2.82 Unrealized +15.8%

OUNZ VANECK MERK GOLD ETF 0.2%

Value ($000) $614 Shares 19,249 Est. Cost $26.14 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ORLA	ORLA MNG LTD NEW	6,200,000	$62,124	25.2%	$4.19	+148.1%	COM	68634K106
—	AMERICAS GOLD AND SILVER COR	71,151,028	$57,469	23.4%	$0.62	—	COM	03062D100
EQX	EQUINOX GOLD CORP	4,900,000	$28,283	11.5%	$6.50	0.0%	COM	29446Y502
AGI	ALAMOS GOLD INC NEW	1,000,000	$26,560	10.8%	$5.19	+415.0%	COM CL A	011532108
AEM	AGNICO EAGLE MINES LTD	165,000	$19,623	8.0%	$50.36	+128.8%	COM	008474108
AU	ANGLOGOLD ASHANTI PLC	275,000	$12,532	5.1%	$17.52	+139.1%	COM SHS	G0378L100
GFI	GOLD FIELDS LTD	500,000	$11,835	4.8%	$8.22	—	SPONSORED ADR	38059T106
MTA	METALLA RTY & STREAMING LTD	3,000,000	$11,520	4.7%	$3.00	+6.2%	COM NEW	59124U605
ITRG	INTEGRA RES CORP	5,524,510	$8,307	3.4%	$0.77	+107.0%	COM	45826T509
BTG	B2GOLD CORP	2,000,000	$7,220	2.9%	$2.82	+15.8%	COM	11777Q209
OUNZ	VANECK MERK GOLD ETF	19,249	$614	0.2%	$26.14	—	GOLD SHS	921078101