Moerus Capital Management LLC is an institutional investment manager that files quarterly 13F reports with the SEC. As of Q4 2025, the fund manages $232M in reported equity holdings across 16 positions. The largest holdings are JEF (16.3%), WPM (15.6%), NTR (13.8%), VAL (13.2%), BREC.SG (11.9%). The portfolio is concentrated in Other (70.3%), Financial Services (16.4%), Energy (13.2%). Data sourced from SEC EDGAR 13F filings (CIK 1742647).