Moerus Capital Management LLC — 13F Holdings & Portfolio
CIK 1742647 · latest 13F-HR filed 2026-08-13
Moerus Capital Management LLC manages $224.4M in 13F-reported U.S. long-equity assets across 14 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are JEF (20.28%), CNH (18.55%), ARCO (15.36%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 1 new position and exited 2; 6 existing positions rose in reported value and 4 fell.
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.
Long-equity book
Distinct positions
Filed 2026-08-13
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
4 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 97.6%Cumulative share of the portfolio held in the largest N positions.
As of the firm’s regulatory filing dated Aug 5, 2026.
SUITE 2003
NEW YORK, NY 10018
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| CAMPAGNA, MICHAEL, R Control | PARTNER, RESEARCH ANALYST since Oct 2015 | 10–25% | Individual |
| MAURO, JOHN, MICHAEL Control | PARTNER, RESEARCH ANALYST since Oct 2015 | 10–25% | Individual |
| SMITH, JULIE, ANN Control | CHIEF COMPLIANCE OFFICER, CFO since Oct 2023 | Less than 5% | Individual |
| WADHWANEY, AMIT, BHAGWANDAS Control | MANAGING MEMBER since Oct 2015 | 75% or more | Individual |
Ownership & leadership changes · 3 filings with changes since Jan 25, 2016
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
- No longer listedQUINN, THOMAS, MICHAEL · CHIEF OPERATING OFFICER, CFO, CCO · Less than 5% · control person · listed since Oct 2015
- AddedSMITH, JULIE, ANN · CHIEF COMPLIANCE OFFICER, CFO · Less than 5% · control person
- No longer listedHAAS, JAY, WILSON · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Jul 2016
- ChangedQUINN, THOMAS, MICHAEL · title CHIEF OPERATING OFFICER/HEAD OF BUSINESS DEVELOPMENT, CFO → CHIEF OPERATING OFFICER, CFO, CCO
- AddedHAAS, JAY, WILSON · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
- ChangedQUINN, THOMAS, MICHAEL · title CHIEF OPERATING OFFICER/HEAD OF BUSINESS DEVELOPMENT, CFO AND CCO → CHIEF OPERATING OFFICER/HEAD OF BUSINESS DEVELOPMENT, CFO
- ListedCAMPAGNA, MICHAEL, R · PARTNER, RESEARCH ANALYST · 10–25% · control person
- ListedMAURO, JOHN, MICHAEL · PARTNER, RESEARCH ANALYST · 10–25% · control person
- ListedQUINN, THOMAS, MICHAEL · CHIEF OPERATING OFFICER/HEAD OF BUSINESS DEVELOPMENT, CFO AND CCO · Less than 5% · control person
- ListedWADHWANEY, AMIT, BHAGWANDAS · MANAGING MEMBER · 75% or more · control person
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- JEFFERIES FINANCIAL GROUP ORD$13.4M +41.9%
- GRUPO FINANCIERO ADR REP 10 CL B ORD$4.2M +50.8%
- DOUGLAS ELLIMAN ORD$665.0K +13.1%
- BROOKFIELD CL A ORD$483.2K +5.2%
- CSW INDUSTRIALS ORD$121.3K +6.8%
Top Trims
- WHEATON PRECIOUS METALS ORD-$8.0M -26.0%
- TIDEWATER ORD-$3.5M -39.3%
- GREENFIRE RESOURCES ORD-$2.2M -15.0%
- BANCO BRADESCO ADR REPSTG 1 PRF-$1.8M -5.8%
Moerus Capital Management LLC Holdings (2026-06-30)
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 | JEFFERIES FINANCIAL GROUP ORD | JEF | 47233W109 | $45.5M | 20.28% | 910,370 | SH |
| 2 | CNH INDUSTRIAL ORD | CNH | N20944109 | $41.6M | 18.55% | 3,705,690 | SH |
| 3 | ARCOS DORADOS HOLDINGS CL A ORD | ARCO | G0457F107 | $34.5M | 15.36% | 4,275,279 | SH |
| 4 | BANCO BRADESCO ADR REPSTG 1 PRF | BBD | 059460303 | $28.9M | 12.88% | 8,329,722 | SH |
| 5 | WHEATON PRECIOUS METALS ORD | WPM | 962879102 | $22.8M | 10.14% | 202,628 | SH |
| 6 | GREENFIRE RESOURCES ORD | GFR | 39525U107 | $12.6M | 5.62% | 2,232,277 | SH |
| 7 | GRUPO FINANCIERO ADR REP 10 CL B ORD | GGAL | 399909100 | $12.3M | 5.50% | 246,487 | SH |
| 8 | BROOKFIELD CL A ORD | BN | 11271J107 | $9.7M | 4.33% | 227,939 | SH |
| 9 | DOUGLAS ELLIMAN ORD | DOUG | 25961D105 | $5.7M | 2.56% | 3,241,090 | SH |
| 10 | TIDEWATER ORD | TDW | 88642R109 | $5.5M | 2.44% | 82,251 | SH |
| 11 | CSW INDUSTRIALS ORD | CSW | 126402106 | $1.9M | 0.85% | 6,847 | SH |
| 12 | BROOKFIELD ASSET MNGMT CL A ORD | BAM | 113004105 | $1.9M | 0.83% | 41,318 | SH |
| 13 | CAPITAL SOUTHWEST ORD | CSWC | 140501107 | $1.5M | 0.65% | 61,698 | SH |
| 14 | BROOKFIELD WEALTH SOLUTIONS CL A ORD | BNT | G17434104 | $50.6K | 0.02% | 1,187 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-13 | $224.4M | 14 | 0001398344-26-014276 |
| 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 |
SUITE 2003
NEW YORK, NY 10018