{ "crd_number": 112305, "slug": "merk-investments-llc-palo-alto-ca-112305", "primary_business_name": "MERK INVESTMENTS LLC", "legal_name": "MERK INVESTMENTS LLC", "dbas": [], "city": "Palo Alto", "state": "CA", "country": "United States", "cbsa_code": "41940", "metro": { "cbsa_code": "41940", "common_name": "San Jose", "msa_name": "San Jose-Sunnyvale-Santa Clara, CA", "path": "/advisors/ca/san-jose" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "2001-10-10", "years_registered": 24, "period": "2026-10-01", "filing_date": "2026-08-11", "carried_forward": false, "raum_total": 2537708291.0, "raum_discretionary": 0.0, "raum_non_discretionary": 2537708291.0, "raum_band": "1b_5b", "raum_band_label": "$1 billion to $5 billion", "total_employees": 4, "advisory_employees": 3, "client_count_bucket": null, "clients_by_type": { "pooled_investment_vehicles": { "raum": 2537708291.0, "count": 1 } }, "compensation_types": [ "percentage_of_aum" ], "advisory_activities": [ "portfolio_management_pooled_vehicles" ], "wrap_fee_participant": false, "disclosure_yes_count": 0, "states_registered": [ "CA" ], "websites": [ "https://linkedin.com/IN/AXELMERK", "https://merkfunds.com", "https://merkgold.com", "https://merkinsights.com", "https://merkinstitutional.com", "https://merkinvestments.com", "https://merkresearch.com", "https://x.com/AXELMERK", "https://youtube.com/MERKINVESTMENTS" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/112305", "city_as_filed": "PALO ALTO", "url": "https://advisorcensus.com/firm/merk-investments-llc-palo-alto-ca-112305", "display_name": "Merk Investments LLC", "summary": "Merk Investments LLC is an SEC-registered investment advisory firm in Palo Alto, CA, registered since 2001, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated August 11, 2026.", "citation": "AdvisorCensus. Merk Investments LLC (CRD 112305): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "A percentage of assets under your management" ], "advisory_activity_labels": [ "Portfolio management for pooled investment vehicles (other than investment companies)" ], "quick_answers": [ { "q": "How is Merk Investments LLC compensated?", "a": "On its Form ADV (Item 5.E, October 2026), Merk Investments LLC reports these compensation arrangements: a percentage of assets under its management." }, { "q": "How much does Merk Investments LLC charge?", "a": "Its Form ADV Part 2A brochure dated August 11, 2026 states: Asset-based fee: 0.25% of assets a year. Fees can differ by service and may be negotiable; the brochure is the complete statement." }, { "q": "Where is Merk Investments LLC located?", "a": "Merk Investments LLC's principal office is in Palo Alto, CA, according to its Form ADV." }, { "q": "Is Merk Investments LLC registered with the SEC or a state?", "a": "Merk Investments LLC is an SEC-registered investment advisory firm, registered since 2001. Status as filed: Approved. CRD 112305." }, { "q": "How much does Merk Investments LLC manage?", "a": "Merk Investments LLC reports $2,537,708,291 in regulatory assets under management in its Form ADV filing dated August 11, 2026 (0% discretionary)." }, { "q": "How have Merk Investments LLC's assets and staff changed since 2021?", "a": "In the Form ADV data for Merk Investments LLC: Regulatory assets under management: $1,028,612,138 in the October 2021 data and $2,537,708,291 in the October 2026 data, up 147%. Total employees: 7 in October 2021 and 4 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does Merk Investments LLC serve?", "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (1)." }, { "q": "Does Merk Investments LLC report any disciplinary disclosures?", "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/112305" }, { "q": "What changed in Merk Investments LLC's recent Form ADV filings?", "a": "In the September 2026 filing data: Employees performing advisory functions went from 5 to 3. Regulatory assets under management went from $3,712,185,193 to $2,537,708,291 (-32%)." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 1028612138.0, "total_employees": 7, "filing_date": "2021-09-27" }, { "period": "2022-10-01", "regulatory_assets_under_management": 1136175954.0, "total_employees": 7, "filing_date": "2022-03-30" }, { "period": "2023-10-01", "regulatory_assets_under_management": 932542400.0, "total_employees": 7, "filing_date": "2023-03-29" }, { "period": "2024-10-01", "regulatory_assets_under_management": 1114080628.0, "total_employees": 7, "filing_date": "2024-03-28" }, { "period": "2025-10-01", "regulatory_assets_under_management": 1618005362.0, "total_employees": 7, "filing_date": "2025-03-26" }, { "period": "2026-10-01", "regulatory_assets_under_management": 2537708291.0, "total_employees": 4, "filing_date": "2026-08-11" } ], "recent_changes": [ { "period": "2026-09-01", "period_label": "September 2026", "notes": [ "Employees performing advisory functions went from 5 to 3.", "Regulatory assets under management went from $3,712,185,193 to $2,537,708,291 (-32%)." ] }, { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Regulatory assets under management went from $3,116,985,105 to $3,712,185,193 (+19%)." ] }, { "period": "2025-12-01", "period_label": "December 2025", "notes": [ "Regulatory assets under management went from $1,618,005,362 to $3,116,985,105 (+93%)." ] } ], "fees_from_brochure": { "source": "Form ADV Part 2A brochure dated August 11, 2026", "provided_by_the_firm": false, "tiers": [], "flat_rate": "0.25% of assets a year", "stated_range": null, "stated_maximum": null, "account_minimum": null, "account_minimum_may_be_waived": false, "minimum_annual_fee": null, "planning_fees": [], "figures": [ { "label": "Asset-based fee", "statements": [ "Asset-based fee: 0.25% of assets a year" ], "quotes": [ "Merk Investments is the “Sponsor” of the ETP and the ETP pays a “Sponsor’s Fee” of 0.25% of the net asset value of the ETP." ] } ], "values": { "tiers": [ { "min": null, "max": null, "rate_pct": 0.25 } ], "range_pct": null, "max_pct": null, "account_minimum": null, "minimum_annual_fee": null, "planning": [] }, "quotes": [ "Merk Investments is the “Sponsor” of the ETP and the ETP pays a “Sponsor’s Fee” of 0.25% of the net asset value of the ETP." ], "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable." }, "custodians": [], "custodians_note": null, "markdown_url": "https://advisorcensus.com/firm/merk-investments-llc-palo-alto-ca-112305.md", "clients": [ { "type": "pooled_investment_vehicles", "label": "Pooled investment vehicles (other than investment companies and business development companies)", "count": 1, "fewer_than_5": false, "raum": 2537708291.0 } ], "disclosure_line": "Reports no disclosure items on Form ADV Item 11.", "disclosure_items": [], "indexable": true, "suppressed": false, "claimed": false, "enhanced": false, "provided_by_the_firm": null, "source": { "name": "Form ADV", "as_of": "2026-10-01", "iapd_url": "https://adviserinfo.sec.gov/firm/summary/112305", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }