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Portfolio (Quarterly) Guide ↗

Moerus Capital Management LLC

· CIK 0001742647
13F Portfolio $271M AUM 15 positions Filed May 14, 2026 EDGAR ↗ ← All Funds
Q1 2026 Q4 2025 · All 1 New 7 Added 2 Reduced 2 Exited
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
1 NTR NUTRIEN ORD Basic Materials 599,236.0 $45.2M 16.70% +79K +15.3% $75.46 -7.3%
2 ARCO ARCOS DORADOS HOLDINGS CL A ORD Consumer Cyclical 4,263,589.0 $35.2M 12.99% +707K +19.9% $8.25 +5.9%
3 JEF JEFFERIES FINANCIAL GROUP ORD Financial Services 777,068.0 $32.1M 11.85% +167K +27.4% $41.27 +25.9%
4 BBD BANCO BRADESCO ADR REPSTG 1 PRF Financial Services 8,407,720.0 $30.7M 11.33% +104K +1.2% $3.65 -3.0%
5 GREENFIRE RESOURCES ORD 2,335,804.0 $14.8M 5.48% +642K +37.9% $6.35
6 TDW TIDEWATER ORD Energy 107,992.0 $9.0M 3.33% +6K +5.6% $83.55 -5.8%
7 DOUG DOUGLAS ELLIMAN ORD Real Estate 3,092,490.0 $5.1M 1.87% +166K +5.7% $1.64 +12.8%

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Financial Services 32.3%
Basic Materials 30.1%
Energy 21.6%
Consumer Cyclical 13.9%
Real Estate 2.0%