Moerus Capital Management LLC
Annual return '25
+16.6%
SPY '25
+17.7%
Alpha
-1.1ptsvs SPY
Invested
$270.8M
Holdings
15
Trades YTD
0
Performance · Fund vs SPY
Cumulative return · quarterly snapshotsCoverage 99%. 4 quarters of 2025 measured against SPY adj-close benchmark.
Top holdings · current snapshot
Source: 13F-HR01
$VAL
VALARIS ORD
Q1 2026: Exited (was 607.9k shares)
16.8%
02
$NTR
NUTRIEN ORD
Q1 2026: Exited (was 519.8k shares)
16.7%
03
$ARCO
ARCOS DORADOS HOLDINGS CL A ORD
Q1 2026: Exited (was 3.56M shares)
13.0%
04
$JEF
JEFFERIES FINANCIAL GROUP ORD
Q1 2026: Exited (was 609.7k shares)
11.8%
05
$WPM
WHEATON PRECIOUS METALS ORD
Q1 2026: Exited (was 307.9k shares)
11.4%
06
$BBD
BANCO BRADESCO ADR REPSTG 1 PRF
Q1 2026: Exited (was 8.30M shares)
11.3%
07
$GFR
GREENFIRE RESOURCES ORD
Q1 2026: Exited (was 1.69M shares)
5.5%
08
$BN
BROOKFIELD CL A ORD
Q1 2026: Exited (was 227.9k shares)
3.4%
09
$TDW
TIDEWATER ORD
Q1 2026: Exited (was 102.2k shares)
3.3%
10
$GGAL
GRUPO FINANCIERO ADR REP 10 CL B ORD
Q1 2025: Exited (was 61.9k shares)
3.0%
Recent trades · Last 90 days
No Form 4 / 13D / 13G trade events on file in the recent window. 13F filers report position snapshots quarterly rather than per-trade events, so this section is most useful for managers who also file Form 4 or 13D/G.
Convergence · Pattern Engine ships in v1.1
30-day windowIn development
Convergence participation lands with the Pattern Engine.
Once the Pattern Engine ships, this section will list every active convergence event this fund is named in — with the other named funds, the Congress members on the same name, and combined position size.
Source data: SEC EDGAR · 13F-HR filings · Performance through 2025-12-31 · Last refreshed 15:50 UTC.