Moerus Capital Management LLC — 13F holdings

Moerus Capital Management LLC reported 14 holdings worth $224M in its 13F filing for Q2 2026, filed August 13, 2026.

Largest positions

1. JEF JEFFERIES FINL GROUP INC — $45.5M (20.3%)
2. CNH CNH INDL N V — $41.6M (18.5%)
3. ARCO ARCOS DORADOS HOLDINGS INC — $34.5M (15.4%)
4. BBD BANCO BRADESCO S A — $28.9M (12.9%)
5. WPM Wheaton Precious Metals Corp — $22.8M (10.1%)
6. GFR GREENFIRE RES LTD NEW — $12.6M (5.6%)
7. GGAL GRUPO FINANCIERO GALICIA S.A — $12.3M (5.5%)
8. BN Brookfield Corp — $9.71M (4.3%)
9. DOUG DOUGLAS ELLIMAN INC — $5.74M (2.6%)
10. TDW TIDEWATER INC NEW — $5.48M (2.4%)