Moerus Capital Management LLC
Net seller this quarter
$224M
14
-$25.4M
97.6%
Holdings
| Company | Value | % of portfolio | % of company | POSITION CHANGE qoq % | First reported |
|---|---|---|---|---|---|
| Q2 2026 | |||||
 JEF | $45.5M | 20.28% | 0.45% | +17.2% | Q4 2018 |
 CNH | $41.6M | 18.55% | 0.30% | New | Q2 2026 |
 ARCO | $34.5M | 15.36% | 2.03% | +0.3% | Q4 2018 |
 BBD | $28.9M | 12.88% | 0.28% | -0.9% | Q1 2025 |
 WPM | $22.8M | 10.14% | 0.04% | -13.6% | Q4 2018 |
 GFR | $12.6M | 5.62% | 1.78% | -4.4% | Q4 2025 |
 GGAL | $12.3M | 5.50% | Not reported | +40.8% | Q3 2023 |
 BN | $9.71M | 4.33% | Not reported | Not reported | Q4 2022 |
 DOUG | $5.74M | 2.56% | 3.57% | +4.8% | Q1 2024 |
 TDW | $5.48M | 2.44% | 0.17% | -23.8% | Q4 2018 |
 CSW | $1.91M | 0.85% | 0.04% | Not reported | Q4 2018 |
| BAM | $1.85M | 0.83% | Not reported | Not reported | Q4 2018 |
 CSWC | $1.47M | 0.65% | 0.10% | Not reported | Q4 2018 |
| BNT | $50.6K | 0.02% | 0.01% | Not reported | Q3 2024 |
| Q1 2026 | |||||
 VAL | $45.5M | 16.80% | 0.67% | -23.7% | Q1 2025 |
 NTR | $45.2M | 16.70% | 0.11% | +15.3% | Q4 2018 |
| ARCO | $35.2M | 12.99% | 2.02% | +19.9% | Q4 2018 |
| JEF | $32.1M | 11.84% | 0.38% | +27.5% | Q4 2018 |
| WPM | $30.7M | 11.35% | 0.05% | -23.8% | Q4 2018 |
| BBD | $30.7M | 11.33% | 0.28% | +1.3% | Q1 2025 |
| GFR | $14.8M | 5.48% | 1.86% | +37.9% | Q4 2025 |
| BN | $9.22M | 3.41% | Not reported | Not reported | Q4 2022 |
| TDW | $9.02M | 3.33% | 0.22% | +5.6% | Q4 2018 |
| GGAL | $8.18M | 3.02% | Not reported | Not reported | Q3 2023 |
| DOUG | $5.07M | 1.87% | 3.51% | +5.7% | Q1 2024 |
| BAM | $1.84M | 0.68% | Not reported | Not reported | Q4 2018 |
| CSW | $1.78M | 0.66% | 0.04% | Not reported | Q4 2018 |
| CSWC | $1.36M | 0.50% | 0.10% | Not reported | Q4 2018 |
| BNT | $49.1K | 0.02% | 0.01% | Not reported | Q3 2024 |
| Q4 2025 | |||||
| JEF | $37.8M | 16.29% | 0.30% | -10.3% | Q4 2018 |
| WPM | $36.2M | 15.60% | 0.07% | -22.7% | Q4 2018 |
| NTR | $32.1M | 13.83% | 0.09% | -12.7% | Q4 2018 |
| VAL | $30.6M | 13.21% | 0.88% | -14.1% | Q1 2025 |
| BBD | $27.7M | 11.92% | 0.28% | -18.7% | Q1 2025 |
| ARCO | $26.1M | 11.26% | 1.69% | +6.8% | Q4 2018 |
| BN | $10.5M | 4.51% | Not reported | -3.3% | Q4 2022 |
| GFR | $8.08M | 3.49% | 2.43% | New | Q4 2025 |
| DOUG | $6.93M | 2.99% | 3.32% | Not reported | Q1 2024 |
| TDW | $5.16M | 2.23% | 0.21% | Not reported | Q4 2018 |
 NFGC | $5.01M | 2.16% | 0.49% | New | Q4 2025 |
| BAM | $2.16M | 0.93% | Not reported | -0.1% | Q4 2018 |
| CSW | $2.01M | 0.87% | 0.04% | -12.0% | Q4 2018 |
| CSWC | $1.37M | 0.59% | 0.10% | -16.6% | Q4 2018 |
 CVE | $209K | 0.09% | 0.00% | New | Q4 2025 |
| BNT | $54.5K | 0.02% | 0.01% | -18.5% | Q3 2024 |
| Q3 2025 | |||||
| WPM | $44.6M | 18.11% | 0.09% | -18.4% | Q4 2018 |
| JEF | $44.5M | 18.08% | 0.33% | +2.1% | Q4 2018 |
| NTR | $35M | 14.21% | 0.10% | +5.2% | Q4 2018 |
| VAL | $34.5M | 14.03% | 1.02% | 0.0% | Q1 2025 |
| BBD | $34.5M | 14.02% | 0.34% | -0.5% | Q1 2025 |
| ARCO | $22.5M | 9.14% | 1.58% | +0.1% | Q4 2018 |
| BN | $10.8M | 4.38% | Not reported | Not reported | Q4 2022 |
| DOUG | $8.37M | 3.40% | 3.29% | -7.1% | Q1 2024 |
| TDW | $5.45M | 2.22% | 0.21% | Not reported | Q4 2018 |
| BAM | $2.36M | 0.96% | Not reported | Not reported | Q4 2018 |
| CSW | $1.89M | 0.77% | 0.05% | Not reported | Q4 2018 |
| CSWC | $1.62M | 0.66% | 0.13% | Not reported | Q4 2018 |
| BNT | $66.6K | 0.03% | 0.01% | Not reported | Q3 2024 |