Moerus Capital Management LLC
Moerus Capital Management LLC, managed by Amit Wadhwaney, reported 14 positions worth $224.38M in its 2026 Q2 13F filing: 1 new and 2 closed.
Estimated return
Since 2025 Q2 the disclosed positions returned an estimated +35.3% against +34.4% for the S&P 500. Price-only return of the fund's top 100 US longs at each quarter start, vs the S&P 500 over the same windows. Not the fund's actual return (no trades, fees, shorts, derivatives, cash).
| Quarter | Fund | S&P 500 |
|---|---|---|
| 2025 Q2 | +13.9% | +11.4% |
| 2025 Q3 | +11.0% | +7.6% |
| 2025 Q4 | +1.1% | +3.1% |
| 2026 Q1 | +14.7% | -5.8% |
| 2026 Q2 | -7.8% | +15.5% |
Top holdings, 2026 Q2
| Ticker | Company | Value | Portfolio % | Change |
|---|---|---|---|---|
| JEF | JEFFERIES FINANCIAL GROUP ORD | $45.50M | 20.30% | +17.2% |
| CNH | CNH INDUSTRIAL ORD | $41.61M | 18.50% | NEW |
| ARCO | ARCOS DORADOS HOLDINGS CL A ORD | $34.46M | 15.40% | +0.3% |
| BBD | BANCO BRADESCO ADR REPSTG 1 PRF | $28.90M | 12.90% | -0.9% |
| WPM | WHEATON PRECIOUS METALS ORD | $22.76M | 10.10% | -13.6% |
| GFR | GREENFIRE RESOURCES ORD | $12.61M | 5.60% | -4.4% |
| GGAL | GRUPO FINANCIERO ADR REP 10 CL B ORD | $12.33M | 5.50% | +40.8% |
| BN | BROOKFIELD CL A ORD | $9.71M | 4.30% | NO CHANGE |
| DOUG | DOUGLAS ELLIMAN ORD | $5.74M | 2.60% | +4.8% |
| TDW | TIDEWATER ORD | $5.48M | 2.40% | -23.8% |
| CSW | CSW INDUSTRIALS ORD | $1.91M | 0.85% | NO CHANGE |
| BAM | BROOKFIELD ASSET MNGMT CL A ORD | $1.85M | 0.83% | NO CHANGE |
| CSWC | CAPITAL SOUTHWEST ORD | $1.47M | 0.65% | NO CHANGE |
| BNT | BROOKFIELD WEALTH SOLUTIONS CL A ORD | $50.64K | 0.02% | NO CHANGE |
All funds · Hedge Fund Tracker
Source: SEC EDGAR 13F filings, reported as of quarter end and filed up to 45 days later. Not investment advice.