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MCM
Moerus Capital Management Portfolio holdings
AUM
$271M
1-Year Est. Return
58.78%
This Fund
S&P 500
This Quarter
Est. Return
+14.8%
1 Year Est. Return
+58.78%
3 Year Est. Return
+248.43%
5 Year Est. Return
+495.83%
10 Year Est. Return
–
AUM
$180M
AUM Growth
-$25.1M
(-12%)
Cap. Flow
-$48.4M
Cap. Flow
% of AUM
-26.93%
Top 10 Holdings %
Top 10 Hldgs %
98.2%
Holding
14
New
–
Increased
2
Reduced
8
Closed
2
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Tidewater
TDW
|
+$2.26M |
| 2 |
DESP
Despegar.com
DESP
|
+$332K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Franklin Resources
BEN
|
+$15M |
| 2 |
Wheaton Precious Metals
WPM
|
+$8.25M |
| 3 |
Spectrum Brands
SPB
|
+$6.3M |
| 4 |
Cameco
CCJ
|
+$6.29M |
| 5 |
Telefônica Brasil
VIV
|
+$4.66M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 21.71% |
| 2 | Materials | 19.36% |
| 3 | Energy | 17.57% |
| 4 | Consumer Staples | 14.87% |
| 5 | Consumer Discretionary | 12.8% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Jefferies Financial Group
JEF
$12.6B
| $30M | 16.72% |
2,019,887
-258,783
| -11% | -$3.47M |
|
|
2
Spectrum Brands
SPB
$2.04B
| $26.7M | 14.87% |
581,995
-148,361
| -20% | -$6.3M |
|
|
3
Telefônica Brasil
VIV
$20.6B
| $22.3M | 12.41% |
2,517,001
-514,031
| -17% | -$4.66M |
|
4
Nutrien
NTR
$33.2B
| $21.8M | 12.14% |
679,304
-85,913
| -11% | -$2.99M |
|
5
Arcos Dorados Holdings
ARCO
$1.72B
| $21.6M | 12.05% |
5,309,062
-260,676
| -5% | -$973K |
|
|
6
Cameco
CCJ
$37.6B
| $17.9M | 9.95% |
1,743,931
-629,233
| -27% | -$6.29M |
|
|
7
Tidewater
TDW
$3.73B
| $13.7M | 7.62% |
2,447,138
+398,467
| +19% | +$2.26M |
|
|
8
Wheaton Precious Metals
WPM
$49.5B
| $13M | 7.22% |
294,484
-209,755
| -42% | -$8.25M |
|
9
Brookfield
BN
$104B
| $7.08M | 3.94% |
402,188
-13
| -0% | -$228 |
|
|
CSW
10
CSW Industrials
CSW
$5.2B
| $2.3M | 1.28% |
33,237
| – | – |
|
11
Capital Southwest
CSWC
$1.47B
| $1.89M | 1.05% |
140,248
| – | – |
|
|
DESP
12
DELISTED
Despegar.com
DESP
| $1.34M | 0.75% |
187,164
+47,800
| +34% | +$332K |
|
|
13
Franklin Resources
BEN
$17.6B
| – | – |
-899,666
| Closed | -$15M |
|
14
Gran Tierra Energy
GTE
$265M
| – | – |
-1,186,491
| Closed | -$3.03M |
|
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Moerus Capital Management's Q2 2020 Portfolio in Review
As of Q2 2020, Moerus Capital Management held 14 positions worth $180M, down 12% from $205M the previous quarter. Its ten largest holdings account for 98% of the portfolio.
Moerus Capital Management withdrew a net $48.4M in Q2 2020, closing 2 positions and reducing 8 holdings. Its most notable exit was Franklin Resources, an estimated $15M position sold in full.
By sector, the portfolio is most concentrated in Financials at 22% of assets, down from 26% a quarter earlier, followed by Materials and Energy.
Against the trend, Moerus Capital Management added an estimated $2.26M to Tidewater.
- Moerus Capital Management added most to Tidewater in Q2 2020, an estimated $2.26M increase.
- Moerus Capital Management's biggest Q2 2020 reduction was Wheaton Precious Metals, cutting an estimated $8.25M.
- Moerus Capital Management fully exited Franklin Resources in Q2 2020, selling an estimated $15M.
- Moerus Capital Management's ten largest holdings make up 98% of its $180M portfolio in Q2 2020.
- Moerus Capital Management opened 0 new positions and closed 2 in Q2 2020.
- Moerus Capital Management's portfolio value fell 12% quarter-over-quarter to $180M.
Based on Moerus Capital Management's 13F filing for Q2 2020, filed 14 Aug 2020.