2026 Q2 Portfolio Activity
In 2026 Q2, Moerus Capital Management LLC maintained a portfolio of 16 distinct positions. The most significant new addition was CNH INDUSTRIAL ORD, now representing 18.55% of the total fund value. They heavily accumulated shares in JEFFERIES FINANCIAL GROUP ORD, increasing the position by 17.2%. Conversely, Moerus Capital Management LLC completely exited their position in VALARIS ORD.
Position History
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Total Positions
16
Quarter
2026 Q2
Top Holding
JEF (20.3%)
Top 10 Concentration
97.6%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-16 of 16
Moerus Capital Management LLC Full Holdings List — 2026 Q2
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
JEF
JEFFERIES FINAN...
|
Financial Services | 20.28% | 11.84% |
#1
3
Prev: #4
|
8.0 |
—
|
133,302 | 17.2% |
P
S
|
910,370 | $45,500,293 | 2018 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
CNH
CNH INDUSTRIAL ...
|
Industrials | 18.55% | — |
#2
Prev: #—
|
9.0 |
—
|
3,705,690 | — |
NEW
|
3,705,690 | $41,614,899 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
ARCO
ARCOS DORADOS H...
|
Consumer Cyclical | 15.36% | 12.99% |
#3
Prev: #3
|
5.5 |
—
|
11,690 | 0.3% |
P
S
|
4,275,279 | $34,458,749 | 2018 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
BBD
BANCO BRADESCO ...
|
Financial Services | 12.88% | 11.33% |
#4
2
Prev: #6
|
5.0 |
—
|
-77,998 | -0.9% |
P
S
|
8,329,722 | $28,904,135 | 2025 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
WPM
WHEATON PRECIOU...
|
Basic Materials | 10.14% | 11.35% |
#5
Prev: #5
|
5.0 |
—
|
-32,017 | -13.6% |
P
S
|
202,628 | $22,759,177 | 2018 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
GFR
GREENFIRE RESOU...
|
Energy | 5.62% | 5.48% |
#6
1
Prev: #7
|
2.7 |
—
|
-103,527 | -4.4% |
P
S
|
2,232,277 | $12,611,201 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
GGAL
GRUPO FINANCIER...
|
Financial Services | 5.50% | 3.02% |
#7
3
Prev: #10
|
4.7 |
—
|
71,389 | 40.8% |
P
S
|
246,487 | $12,331,745 | 2023 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
BN
BROOKFIELD CL A...
|
Financial Services | 4.33% | 3.41% |
#8
Prev: #8
|
2.7 |
—
|
no change | no change |
P
S
|
227,939 | $9,707,922 | 2022 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
DOUG
DOUGLAS ELLIMAN...
|
Real Estate | 2.56% | 1.87% |
#9
2
Prev: #11
|
1.5 |
—
|
148,600 | 4.8% |
P
S
|
3,241,090 | $5,736,729 | 2024 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
TDW
TIDEWATER ORD
|
Energy | 2.44% | 3.33% |
#10
1
Prev: #9
|
1.0 |
—
|
-25,741 | -23.8% |
P
S
|
82,251 | $5,480,384 | 2018 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
CSWI
CSW INDUSTRIALS...
|
Unknown | 0.85% | 0.66% |
#11
2
Prev: #13
|
1.3 |
—
|
no change | no change |
P
S
|
6,847 | $1,905,520 | 2018 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
BAM
BROOKFIELD ASSE...
|
Financial Services | 0.83% | 0.68% |
#12
Prev: #12
|
1.3 |
—
|
no change | no change |
P
S
|
41,318 | $1,853,112 | 2018 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
CSWC
CAPITAL SOUTHWE...
|
Financial Services | 0.65% | 0.50% |
#13
1
Prev: #14
|
1.3 |
—
|
no change | no change |
P
S
|
61,698 | $1,466,561 | 2018 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
BNT
BROOKFIELD WEAL...
|
Financial Services | 0.02% | 0.02% |
#14
1
Prev: #15
|
1.0 |
—
|
no change | no change |
P
S
|
1,187 | $50,637 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
NTR
NUTRIEN ORD
|
Basic Materials | 0.00% | 16.70% |
Sold All 😨
(Was: #2) |
0.0 |
—
|
-599,236 | -100.0% |
CLOSED
|
— | $— | 2018 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
VAL
VALARIS ORD
|
Energy | 0.00% | 16.80% |
Sold All 😨
(Was: #1) |
0.0 |
—
|
-463,985 | -100.0% |
CLOSED
|
— | $— | 2025 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 |
Showing 1-16 of 16 holdings