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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
+4.56%
1 Year Est. Return
+58.78%
3 Year Est. Return
+248.43%
5 Year Est. Return
+495.83%
10 Year Est. Return
–
AUM
$277M
AUM Growth
-$41.9M
Cap. Flow
-$54.1M
Cap. Flow %
-19.52%
Top 10 Hldgs %
94.01%
Holding
19
New
–
Increased
10
Reduced
4
Closed
1

Top Buys

Rank Stock Value
1
EFXT
Enerflex
EFXT
+$5.43M
2
NTR icon
Nutrien
NTR
+$2.57M
3
WPM icon
Wheaton Precious Metals
WPM
+$1.74M
4
DOUG icon
Douglas Elliman
DOUG
+$1.63M
5
CCJ icon
Cameco
CCJ
+$514K

Top Sells

Rank Stock Value
1
SPB icon
Spectrum Brands
SPB
+$29.9M
2
TDW icon
Tidewater
TDW
+$28.2M
3
DESP
Despegar.com
DESP
+$8.11M
4
GGAL icon
Galicia Financial Group
GGAL
+$835K
5
BN icon
Brookfield
BN
+$221K

Sector Composition

Rank Sector Weight
1 Materials 28.81%
2 Energy 25.92%
3 Financials 25.33%
4 Consumer Discretionary 17.19%
5 Industrials 1.64%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JEF icon
1
Jefferies Financial Group
JEF
$12.6B
$53.3M 19.22%
1,070,224
+7,195
+0.7% +$323K
WPM icon
2
Wheaton Precious Metals
WPM
$49.5B
$45.6M 16.44%
868,948
+32,558
+4% +$1.74M
CCJ icon
3
Cameco
CCJ
$37.6B
$32.7M 11.79%
663,719
+10,135
+2% +$514K
NTR icon
4
Nutrien
NTR
$33.2B
$31M 11.17%
608,002
+46,911
+8% +$2.57M
EFXT
5
Enerflex
EFXT
$2.72B
$29.8M 10.74%
5,514,672
+999,910
+22% +$5.43M
DESP
6
DELISTED
Despegar.com
DESP
$29M 10.45%
2,188,365
-615,519
-22% -$8.11M
ARCO icon
7
Arcos Dorados Holdings
ARCO
$1.72B
$18.7M 6.74%
2,075,985
+26,279
+1% +$270K
TDW icon
8
Tidewater
TDW
$3.73B
$9.42M 3.4%
98,934
-286,346
-74% -$28.2M
BN icon
9
Brookfield
BN
$104B
$7.49M 2.7%
270,416
-7,924
-3% -$221K
GGAL icon
10
Galicia Financial Group
GGAL
$7.99B
$3.77M 1.36%
123,482
-26,000
-17% -$835K
TECK icon
11
Teck Resources
TECK
$29.6B
$3.31M 1.2%
69,190
+7,778
+13% +$383K
DOUG icon
12
Douglas Elliman
DOUG
$154M
$3.04M 1.1%
2,620,870
+1,296,541
+98% +$1.63M
CSW
13
CSW Industrials
CSW
$5.2B
$2.97M 1.07%
11,188
– –
CSWC icon
14
Capital Southwest
CSWC
$1.47B
$2.14M 0.77%
82,097
– –
BAM icon
15
Brookfield Asset Management
BAM
$77.3B
$1.8M 0.65%
47,197
– –
BMA icon
16
Banco Macro
BMA
$5.88B
$1.7M 0.61%
29,570
+811
+3% +$46.5K
CPA icon
17
Copa Holdings
CPA
$5.76B
$1.59M 0.57%
16,700
+2,798
+20% +$279K
BNT
18
Brookfield Wealth Solutions
BNT
$11.8B
$40.4K 0.01%
1,457
– –
SPB icon
19
Spectrum Brands
SPB
$2.04B
– –
-335,500
Closed -$29.9M

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Moerus Capital Management's Q2 2024 Portfolio in Review

As of Q2 2024, Moerus Capital Management held 19 positions worth $277M, down 13% from $319M the previous quarter. Its ten largest holdings account for 94% of the portfolio.

Moerus Capital Management withdrew a net $54.1M in Q2 2024, closing 1 position and reducing 4 holdings. Its most notable exit was Spectrum Brands, an estimated $29.9M position sold in full.

By sector, the portfolio is most concentrated in Materials at 29% of assets, up from 23% a quarter earlier, followed by Energy and Financials.

Against the trend, Moerus Capital Management added an estimated $5.43M to Enerflex.

  • Moerus Capital Management added most to Enerflex in Q2 2024, an estimated $5.43M increase.
  • Moerus Capital Management's biggest Q2 2024 reduction was Tidewater, cutting an estimated $28.2M.
  • Moerus Capital Management fully exited Spectrum Brands in Q2 2024, selling an estimated $29.9M.
  • Moerus Capital Management's ten largest holdings make up 94% of its $277M portfolio in Q2 2024.
  • Moerus Capital Management opened 0 new positions and closed 1 in Q2 2024.
  • Moerus Capital Management's portfolio value fell 13% quarter-over-quarter to $277M.

Based on Moerus Capital Management's 13F filing for Q2 2024, filed 14 Aug 2024.