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MCM
Moerus Capital Management Portfolio holdings
AUM
$224M
1-Year Est. Return
42.2%
This Fund
S&P 500
This Quarter
Est. Return
-36.01%
1 Year Est. Return
+42.2%
3 Year Est. Return
+220.02%
5 Year Est. Return
+460.62%
10 Year Est. Return
–
AUM
$205M
AUM Growth
-$104M
(-34%)
Cap. Flow
+$35.1M
Cap. Flow
% of AUM
17.14%
Top 10 Holdings %
Top 10 Hldgs %
96.3%
Holding
16
New
1
Increased
9
Reduced
3
Closed
2
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Telefônica Brasil
VIV
|
+$11.9M |
| 2 |
Nutrien
NTR
|
+$7.36M |
| 3 |
Jefferies Financial Group
JEF
|
+$6.54M |
| 4 |
Cameco
CCJ
|
+$5.5M |
| 5 |
Spectrum Brands
SPB
|
+$4.95M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Gran Tierra Energy
GTE
|
+$4.54M |
| 2 |
Copa Holdings
CPA
|
+$2.5M |
| 3 |
Brookfield
BN
|
+$2.41M |
| 4 |
CSW
CSW Industrials
CSW
|
+$821K |
| 5 |
Royal Gold
RGLD
|
+$700K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 25.77% |
| 2 | Materials | 19.47% |
| 3 | Energy | 17.4% |
| 4 | Communication Services | 14.11% |
| 5 | Consumer Staples | 12.98% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Jefferies Financial Group
JEF
$10.9B
| $29.8M | 14.55% |
2,278,670
+342,493
| +18% | +$6.54M |
|
|
2
Telefônica Brasil
VIV
$18.9B
| $28.9M | 14.11% |
3,031,032
+936,563
| +45% | +$11.9M |
|
|
3
Spectrum Brands
SPB
$1.99B
| $26.6M | 12.98% |
730,356
+91,583
| +14% | +$4.95M |
|
|
4
Nutrien
NTR
$37.1B
| $26M | 12.69% |
765,217
+183,781
| +32% | +$7.36M |
|
5
Arcos Dorados Holdings
ARCO
$1.62B
| $18.1M | 8.84% |
5,569,738
+176,921
| +3% | +$1.12M |
|
|
6
Cameco
CCJ
$39.6B
| $18.1M | 8.84% |
2,373,164
+670,754
| +39% | +$5.5M |
|
7
Franklin Templeton
BEN
$16.6B
| $15M | 7.33% |
899,666
+148,005
| +20% | +$3.4M |
|
8
Tidewater
TDW
$4.39B
| $14.5M | 7.09% |
2,048,671
+120,397
| +6% | +$1.62M |
|
9
Wheaton Precious Metals
WPM
$66.6B
| $13.9M | 6.78% |
504,239
+69,842
| +16% | +$2.02M |
|
|
10
Brookfield
BN
$82.7B
| $6.35M | 3.1% |
402,201
-116,949
| -23% | -$2.41M |
|
|
11
Gran Tierra Energy
GTE
$376M
| $3.03M | 1.48% |
1,186,491
-570,969
| -32% | -$4.54M |
|
|
CSW
12
CSW Industrials
CSW
$4.69B
| $2.15M | 1.05% |
33,237
-11,339
| -25% | -$821K |
|
13
Capital Southwest
CSWC
$1.5B
| $1.6M | 0.78% |
140,248
| – | – |
|
|
DESP
14
DELISTED
Despegar.com
DESP
| $790K | 0.39% |
+139,364
| New | +$1.65M |
|
|
15
Copa Holdings
CPA
$5.23B
| – | – |
-23,121
| Closed | -$2.5M |
|
|
16
Royal Gold
RGLD
$20.8B
| – | – |
-5,723
| Closed | -$700K |
|
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Moerus Capital Management's Q1 2020 Portfolio in Review
As of Q1 2020, Moerus Capital Management held 16 positions worth $205M, down 34% from $309M the previous quarter. Its ten largest holdings account for 96% of the portfolio.
Moerus Capital Management deployed $35.1M of net new capital in Q1 2020, opening 1 new position and adding to 9 existing holdings. Its largest new stake was Despegar.com: 139,364 shares worth $790K.
By sector, the portfolio is most concentrated in Financials at 26% of assets, up from 24% a quarter earlier, followed by Materials and Energy.
On the sell side, the largest reduction was Gran Tierra Energy, an estimated $4.54M trimmed.
- Moerus Capital Management's largest Q1 2020 buy was Despegar.com: 139,364 shares worth $790K.
- Moerus Capital Management added most to Telefônica Brasil in Q1 2020, an estimated $11.9M increase.
- Moerus Capital Management's biggest Q1 2020 reduction was Gran Tierra Energy, cutting an estimated $4.54M.
- Moerus Capital Management fully exited Copa Holdings in Q1 2020, selling an estimated $2.5M.
- Moerus Capital Management's ten largest holdings make up 96% of its $205M portfolio in Q1 2020.
- Moerus Capital Management opened 1 new position and closed 2 in Q1 2020.
- Moerus Capital Management's portfolio value fell 34% quarter-over-quarter to $205M.
Based on Moerus Capital Management's 13F filing for Q1 2020, filed 15 May 2020.