Q2 2025 · 13F-HR
Moerus Capital Management LLCholdings as filed
Filed 2025-08-11 · accession 0001398344-25-014907
$234.3M
Reported value
14
Positions
2025-06-30
Period end
The Brief · Moerus Capital Management LLC · Q2 2025
AI · grounded in 13F
Moerus Capital Management LLC established a new position in WPM valued at $43.8M. The fund also initiated new stakes in JEF for $36.4M and NTR for $33M. Additional new positions include BBD at $31.7M and VAL at $29.8M. Total assets under management stand at $234.3M across 14 positions.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 962879102 | WPM | WHEATON PRECIOUS METALS ORD | $43.8M | 18.7% | 488,154 | Common | SOLE |
| 47233W109 | JEF | JEFFERIES FINANCIAL GROUP ORD | $36.4M | 15.5% | 665,854 | Common | SOLE |
| 67077M108 | NTR | NUTRIEN ORD | $33.0M | 14.1% | 565,956 | Common | SOLE |
| 059460303 | BBD | BANCO BRADESCO ADR REPSTG 1 PRF | $31.7M | 13.5% | 10,263,176 | Common | SOLE |
| G9460G101 | VAL | VALARIS ORD | $29.8M | 12.7% | 707,701 | Common | SOLE |
| G0457F107 | ARCO | ARCOS DORADOS HOLDINGS CL A ORD | $26.3M | 11.2% | 3,327,551 | Common | SOLE |
| 11271J107 | BN | BROOKFIELD CL A ORD | $9.7M | 4.15% | 157,151 | Common | SOLE |
| 25961D105 | DOUG | DOUGLAS ELLIMAN ORD | $7.3M | 3.12% | 3,150,025 | Common | SOLE |
| 878742204 | TECK | TECK RESOURCES CL B ORD | $5.4M | 2.31% | 134,062 | Common | SOLE |
| 88642R109 | TDW | TIDEWATER ORD | $4.7M | 2.01% | 102,229 | Common | SOLE |
| 113004105 | BAM | BROOKFIELD ASSET MNGMT CL A ORD | $2.3M | 0.98% | 41,366 | Common | SOLE |
| 126402106 | CSW | CSW INDUSTRIALS ORD | $2.2M | 0.95% | 7,780 | Common | SOLE |
| 140501107 | CSWC | CAPITAL SOUTHWEST ORD | $1.6M | 0.70% | 73,983 | Common | SOLE |
| G17434104 | BNT | BROOKFIELD WEALTH SOLUTIONS CL A ORD | $60,060 | 0.03% | 971 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.