2026 Q1 Portfolio Activity
In 2026 Q1, Moerus Capital Management LLC maintained a portfolio of 17 distinct positions. The most significant new addition was GRUPO FINANCIERO ADR REP 10 CL, now representing 3.02% of the total fund value. They heavily accumulated shares in NUTRIEN ORD, increasing the position by 15.3%. The fund also reduced its exposure to WHEATON PRECIOUS METALS ORD by 23.8%.
Position History
hover any row below to update
Loading…
Total Positions
17
Quarter
2026 Q1
Top Holding
VAL (16.8%)
Top 10 Concentration
96.3%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-17 of 17
Moerus Capital Management LLC Full Holdings List — 2026 Q1
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
VAL
VALARIS ORD
|
Energy | 16.80% | 13.21% |
#1
3
Prev: #4
|
6.0 |
—
|
-143,912 | -23.7% |
P
S
|
463,985 | $45,489,089 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
NTR
NUTRIEN ORD
|
Basic Materials | 16.70% | 13.83% |
#2
1
Prev: #3
|
7.5 |
—
|
79,447 | 15.3% |
P
S
|
599,236 | $45,218,349 | 2018 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
ARCO
ARCOS DORADOS H...
|
Consumer Cyclical | 12.99% | 11.26% |
#3
3
Prev: #6
|
7.0 |
—
|
706,683 | 19.9% |
P
S
|
4,263,589 | $35,174,609 | 2018 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
JEF
JEFFERIES FINAN...
|
Financial Services | 11.84% | 16.29% |
#4
3
Prev: #1
|
7.0 |
—
|
167,347 | 27.4% |
P
S
|
777,068 | $32,069,596 | 2018 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
WPM
WHEATON PRECIOU...
|
Basic Materials | 11.35% | 15.60% |
#5
3
Prev: #2
|
4.5 |
—
|
-73,257 | -23.8% |
P
S
|
234,645 | $30,740,841 | 2018 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
BBD
BANCO BRADESCO ...
|
Financial Services | 11.33% | 11.92% |
#6
1
Prev: #5
|
4.5 |
—
|
103,900 | 1.3% |
P
S
|
8,407,720 | $30,688,178 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
GFR
GREENFIRE RESOU...
|
Energy | 5.48% | 3.49% |
#7
1
Prev: #8
|
4.7 |
—
|
642,312 | 37.9% |
P
S
|
2,335,804 | $14,838,495 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
BN
BROOKFIELD CL A...
|
Financial Services | 3.41% | 4.51% |
#8
1
Prev: #7
|
2.4 |
—
|
no change | no change |
P
S
|
227,939 | $9,224,691 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
TDW
TIDEWATER ORD
|
Energy | 3.33% | 2.23% |
#9
1
Prev: #10
|
3.3 |
—
|
5,763 | 5.6% |
P
S
|
107,992 | $9,022,732 | 2018 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
GGAL
GRUPO FINANCIER...
|
Financial Services | 3.02% | — |
#10
Prev: #—
|
4.7 |
—
|
175,098 | — |
NEW
|
175,098 | $8,178,828 | 2023 Q3 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
DOUG
DOUGLAS ELLIMAN...
|
Real Estate | 1.87% | 2.99% |
#11
2
Prev: #9
|
2.7 |
—
|
166,500 | 5.7% |
P
S
|
3,092,490 | $5,071,684 | 2024 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
BAM
BROOKFIELD ASSE...
|
Financial Services | 0.68% | 0.93% |
#12
Prev: #12
|
1.3 |
—
|
no change | no change |
P
S
|
41,318 | $1,836,585 | 2018 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
CSWI
CSW INDUSTRIALS...
|
Unknown | 0.66% | 0.87% |
#13
Prev: #13
|
1.3 |
—
|
no change | no change |
P
S
|
6,847 | $1,784,191 | 2018 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
CSWC
CAPITAL SOUTHWE...
|
Financial Services | 0.50% | 0.59% |
#14
Prev: #14
|
1.2 |
—
|
no change | no change |
P
S
|
61,698 | $1,364,760 | 2018 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
BNT
BROOKFIELD WEAL...
|
Financial Services | 0.02% | 0.02% |
#15
1
Prev: #16
|
1.0 |
—
|
no change | no change |
P
S
|
1,187 | $49,142 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
CVE
CENOVUS ENERGY ...
|
Energy | 0.00% | 0.09% |
Sold All 😨
(Was: #15) |
0.0 |
—
|
-12,377 | -100.0% |
CLOSED
|
— | $— | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
NFGC
NEW FOUND GOLD ...
|
Basic Materials | 0.00% | 2.16% |
Sold All 😨
(Was: #11) |
0.0 |
—
|
-1,692,643 | -100.0% |
CLOSED
|
— | $— | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 |
Showing 1-17 of 17 holdings