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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 VAL VALARIS ORD Energy 463,985.0 $45.5M 16.80% -144K -23.7% $98.04 -1.7%
2 WPM WHEATON PRECIOUS METALS ORD Basic Materials 234,645.0 $30.7M 11.35% -73K -23.8% $131.01 -3.4%

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%