Moerus Capital Management LLC

CIK 0001742647 · Q2 2026

13F Equity AUM

$224.4M

-17.1% QoQ

Positions

-1 QoQ

AUM Rank

#7,625

Top 61%

Skill Alpha (FF)

+5.0%/yr^ns

No Clear Edge

Rank #737 · Top 9%

vs S&P +2.8%/yr (unadj.)

Quarters Tracked

~7 years

Portfolio Concentration

Top 5: 77.2%Top 10: 97.7%Top 20: 100.0%

JEF20.3%

CNHI18.6%

ARCO15.4%

BBD12.9%

WPM10.1%

GFR5.6%

GGAL5.5%

BN4.3%

DOUG2.6%

TDW2.4%

Others (4)2.3%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services44.5%

Industrials19.4%

Consumer Cyclical15.4%

Basic Materials10.1%

Energy8.1%

Real Estate2.6%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 14Median: 4.91%Avg: 7.14%

0–0.5%

1(0.0%)

0.5–1%

3(2.3%)

1–3%

2(5.0%)

3–5%

1(4.3%)

5%+

7(88.3%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 14vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New1Increased4Decreased4Exited2

New Positions

CNHI18.6%

+3.7M

Increased

DOUG2.6%

+149K(+5%)

JEF20.3%

+133K(+17%)

GGAL5.5%

+71K(+41%)

ARCO15.4%

+12K(+0%)

Decreased

GFR5.6%

-103,527(-4%)

BBD12.9%

-77,998(-1%)

WPM10.1%

-32,017(-14%)

TDW2.4%

-25,741(-24%)

Exited

VAL-WT

-463,985

NTR

-599,236

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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