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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
+9.44%
1 Year Est. Return
+58.78%
3 Year Est. Return
+248.43%
5 Year Est. Return
+495.83%
10 Year Est. Return
–
AUM
$330M
AUM Growth
-$1.99M
Cap. Flow
-$30.1M
Cap. Flow %
-9.1%
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
TDW icon
Tidewater
TDW
+$15.4M
2
JEF icon
Jefferies Financial Group
JEF
+$5.13M
3
WPM icon
Wheaton Precious Metals
WPM
+$3.5M
4
CCJ icon
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
TDW icon
1
Tidewater
TDW
$3.73B
$49.4M 14.94%
1,120,260
-358,757
-24% -$15.4M
SPB icon
2
Spectrum Brands
SPB
$2.04B
$48.7M 14.72%
734,750
-28,184
-4% -$1.78M
WPM icon
3
Wheaton Precious Metals
WPM
$49.5B
$44.2M 13.39%
918,434
-80,102
-8% -$3.5M
JEF icon
4
Jefferies Financial Group
JEF
$12.6B
$38.8M 11.74%
1,222,718
-141,845
-10% -$5.13M
CCJ icon
5
Cameco
CCJ
$37.6B
$30.7M 9.29%
1,172,105
-97,042
-8% -$2.56M
ARCO icon
6
Arcos Dorados Holdings
ARCO
$1.72B
$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
NTR icon
8
Nutrien
NTR
$33.2B
$26.5M 8.01%
358,565
-26,882
-7% -$2.07M
EFXT
9
Enerflex
EFXT
$2.72B
$20.4M 6.18%
3,430,910
-42,973
-1% -$281K
BN icon
10
Brookfield
BN
$104B
$6.12M 1.85%
281,790
– –
CSW
11
CSW Industrials
CSW
$5.2B
$2.32M 0.7%
16,724
– –
CSWC icon
12
Capital Southwest
CSWC
$1.47B
$1.89M 0.57%
106,270
– –
CPA icon
13
Copa Holdings
CPA
$5.76B
$1.61M 0.49%
17,390
-7,703
-31% -$699K
BAM icon
14
Brookfield Asset Management
BAM
$77.3B
$1.54M 0.47%
47,197
– –
BNT
15
Brookfield Wealth Solutions
BNT
$11.8B
$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.