Moerus Capital Management LLC

Q3 2025 13F-HR Holdings

Location
New York, NY
Holdings as of
9/30/2025
Date filed
11/13/2025
Form type
13F-HR
Num holdings
13
Total value ($000)
$246,031
Net value change ($000)
+11,683 (5.0%)
New positions
0
Sold out positions
1
Turnover %
2.2%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/11/2025 Next filing: 2/12/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
JEF 8,059 22.1%
VAL 4,729 15.9%
BBD 2,790 8.8%
NTR 2,008 6.1%
DOUG 1,060 14.5%
BN 1,057 10.9%
TDW 736 15.6%
WPM 715 1.6%
BAM 68 3.0%
BROOKFIELD WEALTH SOL LTD 7 11.7%
Top Reduces (Value $000, Stocks/ETFs)
TECK -5,413 -100.0%
ARCO -3,777 -14.4%
CSW -343 -15.4%
CSWC -14 -0.9%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type