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	Status
1	NFGC	NEW FOUND GOLD ORD	Basic Materials	1,692,643	$5.0M	2.16%	SOLD
2	CVE	CENOVUS ENERGY ORD	Energy	12,377	$209K	0.09%	SOLD

Sector Allocation

Financial Services 32.3%

Basic Materials 30.1%

Energy 21.6%

Consumer Cyclical 13.9%

Real Estate 2.0%