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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
+11.14%
1 Year Est. Return
+58.78%
3 Year Est. Return
+248.43%
5 Year Est. Return
+495.83%
10 Year Est. Return
–
AUM
$342M
AUM Growth
+$11.2M
(+3.4%)
Cap. Flow
-$19.8M
Cap. Flow
% of AUM
-5.8%
Top 10 Holdings %
Top 10 Hldgs %
97.13%
Holding
16
New
1
Increased
2
Reduced
8
Closed
–
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Nutrien
NTR
|
+$11.5M |
| 2 |
Teck Resources
TECK
|
+$2.06M |
| 3 |
Jefferies Financial Group
JEF
|
+$472K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Tidewater
TDW
|
+$14.8M |
| 2 |
Arcos Dorados Holdings
ARCO
|
+$8.73M |
| 3 |
Spectrum Brands
SPB
|
+$5.39M |
| 4 |
Cameco
CCJ
|
+$3.25M |
| 5 |
Wheaton Precious Metals
WPM
|
+$1.02M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 29.42% |
| 2 | Materials | 21.26% |
| 3 | Consumer Discretionary | 18.11% |
| 4 | Consumer Staples | 15.06% |
| 5 | Financials | 14.94% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Spectrum Brands
SPB
$2.04B
| $51.4M | 15.06% |
659,188
-75,562
| -10% | -$5.39M |
|
|
2
Tidewater
TDW
$3.73B
| $44.1M | 12.92% |
796,102
-324,158
| -29% | -$14.8M |
|
|
3
Jefferies Financial Group
JEF
$12.6B
| $41.1M | 12.02% |
1,237,855
+15,137
| +1% | +$472K |
|
|
4
Wheaton Precious Metals
WPM
$49.5B
| $38.8M | 11.35% |
896,975
-21,459
| -2% | -$1.02M |
|
|
5
Cameco
CCJ
$37.6B
| $33.1M | 9.69% |
1,056,481
-115,624
| -10% | -$3.25M |
|
|
DESP
6
DELISTED
Despegar.com
DESP
| $32.2M | 9.42% |
4,566,654
| – | – |
|
|
7
Nutrien
NTR
$33.2B
| $31.8M | 9.32% |
539,158
+180,593
| +50% | +$11.5M |
|
|
8
Arcos Dorados Holdings
ARCO
$1.72B
| $29.7M | 8.68% |
2,894,699
-1,021,608
| -26% | -$8.73M |
|
|
EFXT
9
Enerflex
EFXT
$2.72B
| $23.3M | 6.81% |
3,417,822
-13,088
| -0.4% | -$79.6K |
|
10
Brookfield
BN
$104B
| $6.32M | 1.85% |
281,790
| – | – |
|
|
CSW
11
CSW Industrials
CSW
$5.2B
| $2.6M | 0.76% |
15,624
-1,100
| -7% | -$159K |
|
12
Capital Southwest
CSWC
$1.47B
| $2.1M | 0.61% |
106,270
| – | – |
|
|
13
Teck Resources
TECK
$29.6B
| $2.01M | 0.59% |
+47,846
| New | +$2.06M |
|
14
Brookfield Asset Management
BAM
$77.3B
| $1.54M | 0.45% |
47,197
| – | – |
|
15
Copa Holdings
CPA
$5.76B
| $1.54M | 0.45% |
13,902
-3,488
| -20% | -$349K |
|
|
BNT
16
Brookfield Wealth Solutions
BNT
$11.8B
| $32.9K | 0.01% |
1,457
| – | – |
|
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Moerus Capital Management's Q2 2023 Portfolio in Review
As of Q2 2023, Moerus Capital Management held 16 positions worth $342M, up 3.4% from $330M the previous quarter. Its ten largest holdings account for 97% of the portfolio.
Moerus Capital Management withdrew a net $19.8M in Q2 2023, reducing 8 holdings. Its largest reduction was Tidewater, cutting an estimated $14.8M.
By sector, the portfolio is most concentrated in Energy at 29% of assets, down from 30% a quarter earlier, followed by Materials and Consumer Discretionary.
Against the trend, Moerus Capital Management opened a new position in Teck Resources worth $2.01M.
- Moerus Capital Management's largest Q2 2023 buy was Teck Resources: 47,846 shares worth $2.01M.
- Moerus Capital Management added most to Nutrien in Q2 2023, an estimated $11.5M increase.
- Moerus Capital Management's biggest Q2 2023 reduction was Tidewater, cutting an estimated $14.8M.
- Moerus Capital Management's ten largest holdings make up 97% of its $342M portfolio in Q2 2023.
- Moerus Capital Management opened 1 new position and closed 0 in Q2 2023.
- Moerus Capital Management's portfolio value rose 3.4% quarter-over-quarter to $342M.
Based on Moerus Capital Management's 13F filing for Q2 2023, filed 14 Aug 2023.