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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
+6.3%
1 Year Est. Return
+58.78%
3 Year Est. Return
+248.43%
5 Year Est. Return
+495.83%
10 Year Est. Return
–
AUM
$303M
AUM Growth
-$38.6M
(-11%)
Cap. Flow
-$55.9M
Cap. Flow
% of AUM
-18.46%
Top 10 Holdings %
Top 10 Hldgs %
96.02%
Holding
17
New
1
Increased
1
Reduced
9
Closed
–
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Galicia Financial Group
GGAL
|
+$2.06M |
| 2 |
Teck Resources
TECK
|
+$312K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Tidewater
TDW
|
+$16.8M |
| 2 |
Spectrum Brands
SPB
|
+$14M |
| 3 |
Cameco
CCJ
|
+$7.91M |
| 4 |
Wheaton Precious Metals
WPM
|
+$4.27M |
| 5 |
Jefferies Financial Group
JEF
|
+$3.85M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 28.93% |
| 2 | Materials | 21.36% |
| 3 | Consumer Discretionary | 18.46% |
| 4 | Financials | 17.48% |
| 5 | Consumer Staples | 12.46% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Jefferies Financial Group
JEF
$12.6B
| $41.4M | 13.67% |
1,130,489
-107,366
| -9% | -$3.85M |
|
|
2
Spectrum Brands
SPB
$2.04B
| $37.7M | 12.46% |
481,751
-177,437
| -27% | -$14M |
|
|
3
Tidewater
TDW
$3.73B
| $37.7M | 12.44% |
530,513
-265,589
| -33% | -$16.8M |
|
|
4
Cameco
CCJ
$37.6B
| $33.1M | 10.91% |
832,963
-223,518
| -21% | -$7.91M |
|
|
5
Wheaton Precious Metals
WPM
$49.5B
| $32.4M | 10.68% |
797,854
-99,121
| -11% | -$4.27M |
|
|
DESP
6
DELISTED
Despegar.com
DESP
| $31.2M | 10.31% |
4,306,940
-259,714
| -6% | -$1.97M |
|
7
Nutrien
NTR
$33.2B
| $30M | 9.89% |
485,374
-53,784
| -10% | -$3.4M |
|
8
Arcos Dorados Holdings
ARCO
$1.72B
| $24.7M | 8.15% |
2,611,909
-282,790
| -10% | -$2.92M |
|
|
EFXT
9
Enerflex
EFXT
$2.72B
| $16.9M | 5.57% |
2,940,178
-477,644
| -14% | -$3.21M |
|
10
Brookfield
BN
$104B
| $5.87M | 1.94% |
281,790
| – | – |
|
|
CSW
11
CSW Industrials
CSW
$5.2B
| $2.74M | 0.9% |
15,624
| – | – |
|
12
Capital Southwest
CSWC
$1.47B
| $2.43M | 0.8% |
106,270
| – | – |
|
|
13
Teck Resources
TECK
$29.6B
| $2.39M | 0.79% |
55,383
+7,537
| +16% | +$312K |
|
|
14
Galicia Financial Group
GGAL
$7.99B
| $1.65M | 0.54% |
+126,173
| New | +$2.06M |
|
15
Brookfield Asset Management
BAM
$77.3B
| $1.57M | 0.52% |
47,197
| – | – |
|
16
Copa Holdings
CPA
$5.76B
| $1.24M | 0.41% |
13,902
| – | – |
|
|
BNT
17
Brookfield Wealth Solutions
BNT
$11.8B
| $30.6K | 0.01% |
1,457
| – | – |
|
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Moerus Capital Management's Q3 2023 Portfolio in Review
As of Q3 2023, Moerus Capital Management held 17 positions worth $303M, down 11% from $342M the previous quarter. Its ten largest holdings account for 96% of the portfolio.
Moerus Capital Management withdrew a net $55.9M in Q3 2023, reducing 9 holdings. Its largest reduction was Tidewater, cutting an estimated $16.8M.
By sector, the portfolio is most concentrated in Energy at 29% of assets, down from 29% a quarter earlier, followed by Materials and Consumer Discretionary.
Against the trend, Moerus Capital Management opened a new position in Galicia Financial Group worth $1.65M.
- Moerus Capital Management's largest Q3 2023 buy was Galicia Financial Group: 126,173 shares worth $1.65M.
- Moerus Capital Management added most to Teck Resources in Q3 2023, an estimated $312K increase.
- Moerus Capital Management's biggest Q3 2023 reduction was Tidewater, cutting an estimated $16.8M.
- Moerus Capital Management's ten largest holdings make up 96% of its $303M portfolio in Q3 2023.
- Moerus Capital Management opened 1 new position and closed 0 in Q3 2023.
- Moerus Capital Management's portfolio value fell 11% quarter-over-quarter to $303M.
Based on Moerus Capital Management's 13F filing for Q3 2023, filed 14 Nov 2023.