Moerus Capital Management LLC — 13F Holdings & Portfolio
CIK 1742647 · latest 13F-HR filed 2026-05-14
Moerus Capital Management LLC manages $270.8M in 13F-reported U.S. long-equity assets across 15 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are VAL (16.80%), NTR (16.70%), ARCO (12.99%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 1 new position, exited 2, added to 6, and trimmed 7.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$270.8M
Long-equity book
15
Distinct positions
2026-03-31
Filed 2026-05-14
+1 / −2 / ↑6 / ↓7
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- VALARIS ORD$14.9M +48.5%
- NUTRIEN ORD$13.1M +40.9%
- ARCOS DORADOS HOLDINGS CL A ORD$9.1M +34.7%
- GREENFIRE RESOURCES ORD$6.8M +83.6%
- TIDEWATER ORD$3.9M +74.7%
Top Trims
- JEFFERIES FINANCIAL GROUP ORD-$5.7M -15.1%
- WHEATON PRECIOUS METALS ORD-$5.4M -15.0%
- DOUGLAS ELLIMAN ORD-$1.9M -26.9%
- BROOKFIELD CL A ORD-$1.2M -11.8%
- BROOKFIELD ASSET MNGMT CL A ORD-$328.1K -15.2%
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | VALARIS ORD | VAL | G9460G101 | $45.5M | 16.80% | 463,985 | SH |
| 2 | NUTRIEN ORD | NTR | 67077M108 | $45.2M | 16.70% | 599,236 | SH |
| 3 | ARCOS DORADOS HOLDINGS CL A ORD | ARCO | G0457F107 | $35.2M | 12.99% | 4,263,589 | SH |
| 4 | JEFFERIES FINANCIAL GROUP ORD | JEF | 47233W109 | $32.1M | 11.84% | 777,068 | SH |
| 5 | WHEATON PRECIOUS METALS ORD | WPM | 962879102 | $30.7M | 11.35% | 234,645 | SH |
| 6 | BANCO BRADESCO ADR REPSTG 1 PRF | BBD | 059460303 | $30.7M | 11.33% | 8,407,720 | SH |
| 7 | GREENFIRE RESOURCES ORD | GFR | 39525U107 | $14.8M | 5.48% | 2,335,804 | SH |
| 8 | BROOKFIELD CL A ORD | BN | 11271J107 | $9.2M | 3.41% | 227,939 | SH |
| 9 | TIDEWATER ORD | TDW | 88642R109 | $9.0M | 3.33% | 107,992 | SH |
| 10 | GRUPO FINANCIERO ADR REP 10 CL B ORD | GGAL | 399909100 | $8.2M | 3.02% | 175,098 | SH |
| 11 | DOUGLAS ELLIMAN ORD | DOUG | 25961D105 | $5.1M | 1.87% | 3,092,490 | SH |
| 12 | BROOKFIELD ASSET MNGMT CL A ORD | BAM | 113004105 | $1.8M | 0.68% | 41,318 | SH |
| 13 | CSW INDUSTRIALS ORD | CSW | 126402106 | $1.8M | 0.66% | 6,847 | SH |
| 14 | CAPITAL SOUTHWEST ORD | CSWC | 140501107 | $1.4M | 0.50% | 61,698 | SH |
| 15 | BROOKFIELD WEALTH SOLUTIONS CL A ORD | BNT | G17434104 | $49.1K | 0.02% | 1,187 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-14 | $270.8M | 15 | 0001398344-26-009117 |
| 2025-12-31 | 2026-02-12 | $231.9M | 16 | 0001398344-26-002850 |
| 2025-09-30 | 2025-11-13 | $246.0M | 13 | 0001398344-25-020817 |