Q2 2026 13F · SEC CIK 1742647
Moerus Capital Management LLC
Institutional asset managerFiled 2026-08-13 for Q2 2026. Open the filing ↗ · All SEC filings ↗
- Reported 13F value
- $224.4M
- Reported positions
- 14
- Top holdings a year, 3 yrs
- +27.0%
- Assets under management
- $893.1M
Moerus Capital Management LLC is an institutional asset manager that reported 14 positions worth $224.4M in its Q2 2026 13F, filed 2026-08-13. Its largest holdings were Jefferies Financial Group in (JEF, 20.3%), Cnh Indl N V (CNHI, 18.5%), Arcos Dorados Hldgs Inc (ARCO, 15.4%). A portfolio copying its top holdings returned 27.0% a year over the last 3 years, against 20.4% for the S&P 500.
Moerus Capital Management LLC holdings all 14 positions.
Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.
| Stock | % of 13F value | Share change | Reported value |
|---|---|---|---|
| JEFJefferies Financial Group in | 20.3% | +17.2% | $45.5M |
| CNHICnh Indl N V | 18.5% | — | $41.6M |
| ARCOArcos Dorados Hldgs Inc | 15.4% | +0.3% | $34.5M |
| BBDBanco Bradesco S A Sp | 12.9% | -0.9% | $28.9M |
| WPMWheaton Precious Metals Corp | 10.1% | -13.6% | $22.8M |
| GFRGreenfire Resources Ltd | 5.6% | -4.4% | $12.6M |
| GGALGrupo Financiero Galicia S.a | 5.5% | +40.8% | $12.3M |
| BNBrookfield Corp | 4.3% | +0.0% | $9.7M |
| DOUGDouglas Elliman Inc | 2.6% | +4.8% | $5.7M |
| TDWTidewater Inc New | 2.4% | -23.8% | $5.5M |
| CSWCsw Industrials Inc | 0.8% | +0.0% | $1.9M |
| BAMBrookfield Asset Managmt Ltd | 0.8% | +0.0% | $1.9M |
| CSWCCapital Southwest Corporation | 0.7% | +0.0% | $1.5M |
| BNTBrookfield Wealth Solutions - Class A st | 0.0% | +0.0% | $51K |
What Moerus Capital Management LLC bought and sold in Q2 2026, against Q1 2026.
New positions
- CNHI Cnh Indl N V18.5% of 13F
Added to
- GGAL Grupo Financiero Galicia S.a+40.8% shares
- JEF Jefferies Financial Group in+17.2% shares
Reduced
- TDW Tidewater Inc New-23.8% shares
- WPM Wheaton Precious Metals Corp-13.6% shares
Sold out
- VAL Valaris Ltdwas 16.8%
- NTR Nutrien Ltdwas 16.7%
Share counts compared with the Q1 2026 13F; a split also changes share counts.
How the holdings did against the S&P 500.
- 1 year
- +23.0% /yr
- S&P 500 +20.1%
- 3 years
- +27.0% /yr
- S&P 500 +20.4%
- 5 years
- +27.7% /yr
- S&P 500 +11.6%
A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.
Reported 13F value by quarter.
| Quarter | 13F value | Positions |
|---|---|---|
| Q2 2026 | $224.4M | 14 |
| Q1 2026 | $270.8M | 15 |
| Q4 2025 | $231.9M | 16 |
| Q3 2025 | $246.0M | 13 |
| Q2 2025 | $234.3M | 14 |
| Q1 2025 | $223.6M | 15 |
| Q4 2024 | $274.0M | 16 |
| Q3 2024 | $272.4M | 17 |
| Q2 2024 | $277.1M | 18 |
| Q1 2024 | $319.0M | 19 |
| Q4 2023 | $332.2M | 17 |
| Q3 2023 | $303.0M | 17 |
Questions about Moerus Capital Management LLC's portfolio
What stocks does Moerus Capital Management LLC own?
Moerus Capital Management LLC's latest 13F, for Q2 2026 and filed Aug 13, 2026, lists 14 positions worth $224.4M. The largest are Jefferies Financial Group in (JEF) at 20.3%, Cnh Indl N V (CNHI) at 18.5%, Arcos Dorados Hldgs Inc (ARCO) at 15.4%, Banco Bradesco S A Sp (BBD) at 12.9% and Wheaton Precious Metals Corp (WPM) at 10.1%.
What did Moerus Capital Management LLC buy last quarter?
In Q2 2026, Moerus Capital Management LLC added a new position in Cnh Indl N V (CNHI), Grupo Financiero Galicia S.a (GGAL) (+40.8% shares) and Jefferies Financial Group in (JEF) (+17.2% shares), compared with its Q1 2026 filing.
What did Moerus Capital Management LLC sell last quarter?
In Q2 2026, Moerus Capital Management LLC sold all of Valaris Ltd (VAL), sold all of Nutrien Ltd (NTR), Tidewater Inc New (TDW) (-23.8% shares) and Wheaton Precious Metals Corp (WPM) (-13.6% shares), compared with its Q1 2026 filing.
How has Moerus Capital Management LLC's portfolio performed?
A portfolio copying Moerus Capital Management LLC's 20 largest 13F holdings each quarter, from the day each filing was public, returned +27.0% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +23.0% against +20.1%. Over 5 years: +27.7% a year against +11.6%.
When is Moerus Capital Management LLC's next 13F filing due?
13F filings are due 45 days after each quarter ends. Moerus Capital Management LLC's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.
How much money does Moerus Capital Management LLC manage?
Moerus Capital Management LLC reported $893.1M of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $224.4M.