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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
+10.99%
1 Year Est. Return
+58.78%
3 Year Est. Return
+248.43%
5 Year Est. Return
+495.83%
10 Year Est. Return
–
AUM
$332M
AUM Growth
+$29.2M
(+9.6%)
Cap. Flow
-$417K
Cap. Flow
% of AUM
-0.13%
Top 10 Holdings %
Top 10 Hldgs %
95.78%
Holding
17
New
–
Increased
5
Reduced
8
Closed
–
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
EFXT
Enerflex
EFXT
|
+$4.89M |
| 2 |
Nutrien
NTR
|
+$2.42M |
| 3 |
Jefferies Financial Group
JEF
|
+$1.72M |
| 4 |
Galicia Financial Group
GGAL
|
+$849K |
| 5 |
Teck Resources
TECK
|
+$232K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
DESP
Despegar.com
DESP
|
+$4.31M |
| 2 |
Arcos Dorados Holdings
ARCO
|
+$3.95M |
| 3 |
Cameco
CCJ
|
+$1.07M |
| 4 |
CSW
CSW Industrials
CSW
|
+$616K |
| 5 |
Capital Southwest
CSWC
|
+$235K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 27.61% |
| 2 | Materials | 21.59% |
| 3 | Consumer Discretionary | 19.24% |
| 4 | Financials | 18.82% |
| 5 | Consumer Staples | 11.53% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Jefferies Financial Group
JEF
$12.6B
| $47.6M | 14.34% |
1,179,152
+48,663
| +4% | +$1.72M |
|
2
Wheaton Precious Metals
WPM
$49.5B
| $39.4M | 11.85% |
797,854
| – | – |
|
3
Spectrum Brands
SPB
$2.04B
| $38.3M | 11.53% |
480,314
-1,437
| -0.3% | -$108K |
|
4
Tidewater
TDW
$3.73B
| $38.1M | 11.46% |
527,964
-2,549
| -0.5% | -$165K |
|
|
DESP
5
DELISTED
Despegar.com
DESP
| $35.5M | 10.67% |
3,748,523
-558,417
| -13% | -$4.31M |
|
|
6
Cameco
CCJ
$37.6B
| $34.8M | 10.49% |
807,413
-25,550
| -3% | -$1.07M |
|
|
7
Nutrien
NTR
$33.2B
| $29.8M | 8.96% |
528,205
+42,831
| +9% | +$2.42M |
|
|
8
Arcos Dorados Holdings
ARCO
$1.72B
| $28.5M | 8.57% |
2,243,376
-368,533
| -14% | -$3.95M |
|
|
EFXT
9
Enerflex
EFXT
$2.72B
| $18.8M | 5.66% |
4,063,281
+1,123,103
| +38% | +$4.89M |
|
10
Brookfield
BN
$104B
| $7.44M | 2.24% |
278,340
-3,450
| -1% | -$78.3K |
|
|
11
Galicia Financial Group
GGAL
$7.99B
| $3.21M | 0.97% |
186,077
+59,904
| +47% | +$849K |
|
|
12
Teck Resources
TECK
$29.6B
| $2.6M | 0.78% |
61,412
+6,029
| +11% | +$232K |
|
|
CSW
13
CSW Industrials
CSW
$5.2B
| $2.54M | 0.76% |
12,228
-3,396
| -22% | -$616K |
|
|
14
Capital Southwest
CSWC
$1.47B
| $2.27M | 0.68% |
95,730
-10,540
| -10% | -$235K |
|
15
Brookfield Asset Management
BAM
$77.3B
| $1.9M | 0.57% |
47,197
| – | – |
|
16
Copa Holdings
CPA
$5.76B
| $1.48M | 0.44% |
13,902
| – | – |
|
|
BNT
17
Brookfield Wealth Solutions
BNT
$11.8B
| $39.2K | 0.01% |
1,457
| – | – |
|
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Moerus Capital Management's Q4 2023 Portfolio in Review
As of Q4 2023, Moerus Capital Management held 17 positions worth $332M, up 9.6% from $303M the previous quarter. Its ten largest holdings account for 96% of the portfolio.
Trading was light in Q4 2023: portfolio turnover was 0%. Moerus Capital Management opened no new positions and made no exits, leaving the 17-position portfolio largely intact.
By sector, the portfolio is most concentrated in Energy at 28% of assets, down from 29% a quarter earlier, followed by Materials and Consumer Discretionary.
- Moerus Capital Management added most to Enerflex in Q4 2023, an estimated $4.89M increase.
- Moerus Capital Management's biggest Q4 2023 reduction was Despegar.com, cutting an estimated $4.31M.
- Moerus Capital Management's ten largest holdings make up 96% of its $332M portfolio in Q4 2023.
- Moerus Capital Management opened 0 new positions and closed 0 in Q4 2023.
- Moerus Capital Management's portfolio value rose 9.6% quarter-over-quarter to $332M.
Based on Moerus Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.