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Moerus Capital Management LLC

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13F filer, CIK 1742647, NEW YORK, NY

Moerus Capital Management LLC reported $234,347,930 across 14 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-11. Its ten largest share positions make up 97.35% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001398344-25-014907

Period
2025-06-30
Reported value
$234M
Holdings
14
Top 10 weight
97.35%
New
0
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
VALadded+241,222$10.2M
JEFadded+91,601$5.01M
TECKadded+19,000$767K
DOUGadded+200,637$465K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
WPMreduced-221,038-$19.8M
BBDreduced-2,011,404-$6.22M
NTRreduced-92,997-$5.42M
CPAexited-31,321-$2.9M
ARCOreduced-224,462-$1.77M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001398344-25-014907, largest first. % of portfolio is the value over $234,347,930, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
WPMWHEATON PRECIOUS METALS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 793,724 shares; 2024Q4: 714,115 shares; 2025Q1: 709,192 shares; 2025Q2: 488,154 shares 488,154$43.8M18.71%-221,038Timeline
JEFJEFFERIES FINANCIAL GROUP INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 983,288 shares; 2024Q4: 640,204 shares; 2025Q1: 574,253 shares; 2025Q2: 665,854 shares 665,854$36.4M15.54%+91,601Timeline
NTRNUTRIEN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 568,441 shares; 2024Q4: 640,502 shares; 2025Q1: 658,953 shares; 2025Q2: 565,956 shares 565,956$33M14.07%-92,997Timeline
BBDBANCO BRADESCO S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 12,274,580 shares; 2025Q2: 10,263,176 shares 10,263,176$31.7M13.53%-2,011,404Timeline
VALVALARIS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 466,479 shares; 2025Q2: 707,701 shares 707,701$29.8M12.72%+241,222Timeline
ARCOARCOS DORADOS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,912,542 shares; 2024Q4: 2,122,675 shares; 2025Q1: 3,552,013 shares; 2025Q2: 3,327,551 shares 3,327,551$26.3M11.2%-224,462Timeline
BNBROOKFIELD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 180,277 shares; 2024Q4: 157,151 shares; 2025Q1: 157,151 shares; 2025Q2: 157,151 shares 157,151$9.72M4.15%0Timeline
DOUGDOUGLAS ELLIMAN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,490,811 shares; 2024Q4: 2,163,109 shares; 2025Q1: 2,949,388 shares; 2025Q2: 3,150,025 shares 3,150,025$7.31M3.12%+200,637Timeline
TECKTECK RESOURCES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 69,190 shares; 2024Q4: 73,712 shares; 2025Q1: 115,062 shares; 2025Q2: 134,062 shares 134,062$5.41M2.31%+19,000Timeline
TDWTIDEWATER INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 102,229 shares; 2025Q2: 102,229 shares 102,229$4.72M2.01%0Timeline
BAMBROOKFIELD ASSET MANAGMT LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 47,197 shares; 2024Q4: 41,366 shares; 2025Q1: 41,366 shares; 2025Q2: 41,366 shares 41,366$2.29M0.98%0Timeline
CSWCSW INDUSTRIALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,565 shares; 2024Q4: 7,780 shares; 2025Q1: 7,780 shares; 2025Q2: 7,780 shares 7,780$2.23M0.95%0Timeline
CSWCCAPITAL SOUTHWEST CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 82,097 shares; 2024Q4: 73,983 shares; 2025Q1: 73,983 shares; 2025Q2: 73,983 shares 73,983$1.63M0.7%0Timeline
BNTBROOKFIELD WEALTH SOL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 971 shares; 2024Q4: 971 shares; 2025Q1: 971 shares; 2025Q2: 971 shares 971$60.1K0.03%0Timeline

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
CPACOPA HOLDINGS SA31,321$2.9Mshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001398344-25-014907 base2025-08-11acceptance time not in the bulk data set