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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
-2.02%
1 Year Est. Return
+58.78%
3 Year Est. Return
+248.43%
5 Year Est. Return
+495.83%
10 Year Est. Return
–
AUM
$235M
AUM Growth
-$48.2M
(-17%)
Cap. Flow
-$30.7M
Cap. Flow
% of AUM
-13.04%
Top 10 Holdings %
Top 10 Hldgs %
97.54%
Holding
14
New
1
Increased
3
Reduced
6
Closed
–
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Spectrum Brands
SPB
|
+$2.8M |
| 2 |
AUY
Yamana Gold, Inc.
AUY
|
+$1.97M |
| 3 |
DESP
Despegar.com
DESP
|
+$908K |
| 4 |
Wheaton Precious Metals
WPM
|
+$187K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Tidewater
TDW
|
+$13.6M |
| 2 |
Arcos Dorados Holdings
ARCO
|
+$11.1M |
| 3 |
Cameco
CCJ
|
+$6.53M |
| 4 |
Nutrien
NTR
|
+$4.32M |
| 5 |
Jefferies Financial Group
JEF
|
+$933K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 27.28% |
| 2 | Materials | 23.89% |
| 3 | Consumer Discretionary | 18.92% |
| 4 | Financials | 18.4% |
| 5 | Consumer Staples | 8.98% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Tidewater
TDW
$3.73B
| $38.4M | 16.35% |
1,771,854
-639,469
| -27% | -$13.6M |
|
|
2
Jefferies Financial Group
JEF
$12.6B
| $33.4M | 14.2% |
1,184,211
-30,822
| -3% | -$933K |
|
|
3
Arcos Dorados Holdings
ARCO
$1.72B
| $30.9M | 13.15% |
4,242,827
-1,536,116
| -27% | -$11.1M |
|
|
4
Wheaton Precious Metals
WPM
$49.5B
| $30.6M | 13.01% |
945,605
+5,705
| +0.6% | +$187K |
|
|
5
Cameco
CCJ
$37.6B
| $25.7M | 10.94% |
970,645
-255,226
| -21% | -$6.53M |
|
|
6
Nutrien
NTR
$33.2B
| $25.6M | 10.88% |
307,074
-50,234
| -14% | -$4.32M |
|
|
7
Spectrum Brands
SPB
$2.04B
| $21.1M | 8.98% |
541,057
+43,394
| +9% | +$2.8M |
|
|
DESP
8
DELISTED
Despegar.com
DESP
| $13.6M | 5.77% |
2,379,680
+119,470
| +5% | +$908K |
|
9
Brookfield
BN
$104B
| $7.68M | 3.27% |
348,574
| – | – |
|
|
CSW
10
CSW Industrials
CSW
$5.2B
| $2.36M | 1% |
19,664
| – | – |
|
11
Capital Southwest
CSWC
$1.47B
| $2.13M | 0.91% |
125,820
| – | – |
|
|
AUY
12
DELISTED
Yamana Gold, Inc.
AUY
| $1.92M | 0.82% |
+424,083
| New | +$1.97M |
|
13
Copa Holdings
CPA
$5.76B
| $1.68M | 0.71% |
25,093
-904
| -3% | -$62.9K |
|
|
BNT
14
Brookfield Wealth Solutions
BNT
$11.8B
| $60K | 0.03% |
2,214
| – | – |
|
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Moerus Capital Management's Q3 2022 Portfolio in Review
As of Q3 2022, Moerus Capital Management held 14 positions worth $235M, down 17% from $283M the previous quarter. Its ten largest holdings account for 98% of the portfolio.
Moerus Capital Management withdrew a net $30.7M in Q3 2022, reducing 6 holdings. Its largest reduction was Tidewater, cutting an estimated $13.6M.
By sector, the portfolio is most concentrated in Energy at 27% of assets, up from 27% a quarter earlier, followed by Materials and Consumer Discretionary.
Against the trend, Moerus Capital Management opened a new position in Yamana Gold, Inc. worth $1.92M.
- Moerus Capital Management's largest Q3 2022 buy was Yamana Gold, Inc.: 424,083 shares worth $1.92M.
- Moerus Capital Management added most to Spectrum Brands in Q3 2022, an estimated $2.8M increase.
- Moerus Capital Management's biggest Q3 2022 reduction was Tidewater, cutting an estimated $13.6M.
- Moerus Capital Management's ten largest holdings make up 98% of its $235M portfolio in Q3 2022.
- Moerus Capital Management opened 1 new position and closed 0 in Q3 2022.
- Moerus Capital Management's portfolio value fell 17% quarter-over-quarter to $235M.
Based on Moerus Capital Management's 13F filing for Q3 2022, filed 14 Nov 2022.