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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
+9.44%
1 Year Est. Return
+42.2%
3 Year Est. Return
+220.02%
5 Year Est. Return
+460.62%
10 Year Est. Return
–
AUM
$330M
AUM Growth
-$1.99M
(-0.6%)
Cap. Flow
-$30.1M
Cap. Flow
% of AUM
-9.1%
Top 10 Holdings %
Top 10 Hldgs %
97.76%
Holding
16
New
–
Increased
1
Reduced
9
Closed
1
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
DESP
Despegar.com
DESP
|
+$5.64M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Tidewater
TDW
|
+$15.4M |
| 2 |
Jefferies Financial Group
JEF
|
+$5.13M |
| 3 |
Wheaton Precious Metals
WPM
|
+$3.5M |
| 4 |
Cameco
CCJ
|
+$2.56M |
| 5 |
AUY
Yamana Gold, Inc.
AUY
|
+$2.35M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 30.42% |
| 2 | Materials | 21.4% |
| 3 | Consumer Discretionary | 17.62% |
| 4 | Consumer Staples | 14.72% |
| 5 | Financials | 14.65% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Tidewater
TDW
$4.39B
| $49.4M | 14.94% |
1,120,260
-358,757
| -24% | -$15.4M |
|
2
Spectrum Brands
SPB
$1.99B
| $48.7M | 14.72% |
734,750
-28,184
| -4% | -$1.78M |
|
|
3
Wheaton Precious Metals
WPM
$66.6B
| $44.2M | 13.39% |
918,434
-80,102
| -8% | -$3.5M |
|
|
4
Jefferies Financial Group
JEF
$10.9B
| $38.8M | 11.74% |
1,222,718
-141,845
| -10% | -$5.13M |
|
|
5
Cameco
CCJ
$39.6B
| $30.7M | 9.29% |
1,172,105
-97,042
| -8% | -$2.56M |
|
6
Arcos Dorados Holdings
ARCO
$1.62B
| $30.2M | 9.14% |
3,916,307
-231,459
| -6% | -$1.9M |
|
|
DESP
7
DELISTED
Despegar.com
DESP
| $28M | 8.49% |
4,566,654
+909,690
| +25% | +$5.64M |
|
8
Nutrien
NTR
$37.1B
| $26.5M | 8.01% |
358,565
-26,882
| -7% | -$2.07M |
|
|
EFXT
9
Enerflex
EFXT
$2.73B
| $20.4M | 6.18% |
3,430,910
-42,973
| -1% | -$281K |
|
10
Brookfield
BN
$82.7B
| $6.12M | 1.85% |
281,790
| – | – |
|
|
CSW
11
CSW Industrials
CSW
$4.69B
| $2.32M | 0.7% |
16,724
| – | – |
|
12
Capital Southwest
CSWC
$1.5B
| $1.89M | 0.57% |
106,270
| – | – |
|
13
Copa Holdings
CPA
$5.23B
| $1.61M | 0.49% |
17,390
-7,703
| -31% | -$699K |
|
14
Brookfield Asset Management
BAM
$72.2B
| $1.54M | 0.47% |
47,197
| – | – |
|
|
BNT
15
Brookfield Wealth Solutions
BNT
$11B
| $32K | 0.01% |
1,457
| – | – |
|
|
AUY
16
DELISTED
Yamana Gold, Inc.
AUY
| – | – |
-424,083
| Closed | -$2.35M |
|
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Moerus Capital Management's Q1 2023 Portfolio in Review
As of Q1 2023, Moerus Capital Management held 16 positions worth $330M, down 0.6% from $332M the previous quarter. Its ten largest holdings account for 98% of the portfolio.
Moerus Capital Management withdrew a net $30.1M in Q1 2023, closing 1 position and reducing 9 holdings. Its most notable exit was Yamana Gold, Inc., an estimated $2.35M position sold in full.
By sector, the portfolio is most concentrated in Energy at 30% of assets, down from 32% a quarter earlier, followed by Materials and Consumer Discretionary.
Against the trend, Moerus Capital Management added an estimated $5.64M to Despegar.com.
- Moerus Capital Management added most to Despegar.com in Q1 2023, an estimated $5.64M increase.
- Moerus Capital Management's biggest Q1 2023 reduction was Tidewater, cutting an estimated $15.4M.
- Moerus Capital Management fully exited Yamana Gold, Inc. in Q1 2023, selling an estimated $2.35M.
- Moerus Capital Management's ten largest holdings make up 98% of its $330M portfolio in Q1 2023.
- Moerus Capital Management opened 0 new positions and closed 1 in Q1 2023.
- Moerus Capital Management's portfolio value fell 0.6% quarter-over-quarter to $330M.
Based on Moerus Capital Management's 13F filing for Q1 2023, filed 16 May 2023.