Tidewater Inc.
MX ˙ BMV ˙ US88642R1095
SecurityMX:TDW / Tidewater Inc.
InstitutionMoerus Capital Management LLC
Latest Disclosed Ownership1,479,017 shares
Ownership 3.18%
Moerus Capital Management LLC ownership in TDW / Tidewater Inc.

2023-02-14 - Moerus Capital Management LLC has filed an SC 13G/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 1,479,017 shares of Tidewater Inc. (MX:TDW). This represents 3.18 percent ownership of the company. In their previous filing dated 2022-02-11 , Moerus Capital Management LLC had reported owning 2,312,642 shares, indicating a decrease of -36.05 percent.

Institutional Ownership: 13D/G Filings

This table shows a history of the 13D/G filings made by the investor and/or investor group. Note that the share values in this table are not directly comparable to any numbers shown in the 13F table (if any).

File
Date		Effective
Date		Form Prev
Shares		 Latest
Shares		 ΔShares
(Percent)		 Ownership
(Percent)		 ΔOwnership
(Percent)
2023-02-14 2023-02-14 13G/A 2,312,642 1,479,017 -36.05 3.18 -43.21
2022-02-11 2022-02-11 13G/A 2,679,898 2,312,642 -13.70 5.60 -15.28
2021-02-16 2021-02-16 13G/A 2,679,898 6.61

Important Note: One of the primary uses of the 13D/G filings is to evaluate the ability of a firm to control a company (ie, the "beneficial ownership"). To that end, firms are required to report not just direct holdings in companies, but indirect holdings that they control. For investment firms, these indirect holdings can include shares in funds they manage, advisory accounts, and in the case of activist campaigns, pledged votes. Therefore, share counts listed in 13D/G filings can differ significantly than share counts listed in 13F filings.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-14 2026-03-31 13F TIDEWATER ORD Com 88642R109 107,992 5,763 5.64 9,023 74.74 3.3325
2026-02-12 2025-12-31 13F TIDEWATER ORD Com 88642R109 102,229 0 0.00 5,164 -5.28 2.2266
2025-11-13 2025-09-30 13F TIDEWATER ORD Com 88642R109 102,229 0 0.00 5,452 15.61 2.2159
2025-08-11 2025-06-30 13F TIDEWATER ORD Com 88642R109 102,229 0 0.00 4,716 9.12 2.0123
2025-05-13 2025-03-31 13F TIDEWATER ORD Com 88642R109 102,229 102,229 4,321 1.9330
2024-11-14 2024-09-30 13F TIDEWATER ORD Com 88642R109 0 -98,934 -100.00 0 -100.00
2024-08-14 2024-06-30 13F TIDEWATER ORD Com 88642R109 98,934 -286,346 -74.32 9,420 -73.43 3.3997
2024-05-15 2024-03-31 13F TIDEWATER ORD Com 88642R109 385,280 -142,684 -27.03 35,446 -6.90 11.1118
2024-02-14 2023-12-31 13F TIDEWATER Com 88642R109 527,964 -2,549 -0.48 38,071 0.98 11.4605
2023-11-14 2023-09-30 13F TIDEWATER Com 88642R109 530,513 -265,589 -33.36 37,704 -14.57 12.4435
2023-08-14 2023-06-30 13F TIDEWATER Com 88642R109 796,102 -324,158 -28.94 44,136 -10.62 12.9190
2023-05-16 2023-03-31 13F TIDEWATER Com 88642R109 1,120,260 -358,757 -24.26 49,381 -9.39 14.9444
2023-02-14 2022-12-31 13F TIDEWATER Com 88642R109 1,479,017 -292,837 -16.53 54,502 41.75 16.3953
2022-11-14 2022-09-30 13F TIDEWATER Com 88642R109 1,771,854 -639,469 -26.52 38,449 -24.39 16.3457
2022-08-15 2022-06-30 13F TIDEWATER Com 88642R109 2,411,323 -261,752 -9.79 50,855 -12.49 17.9402
2022-05-16 2022-03-31 13F TIDEWATER Com 88642R109 2,673,075 360,433 15.59 58,113 134.63 16.0957
2022-02-11 2021-12-31 13F TIDEWATER Com 88642R109 2,312,642 -24,080 -1.03 24,768 -12.11 10.7799
2021-11-15 2021-09-30 13F TIDEWATER Com 88642R109 2,336,722 159,454 7.32 28,181 7.41 13.0715
2021-08-16 2021-06-30 13F TIDEWATER Com 88642R109 2,177,268 -594,506 -21.45 26,236 -24.46 12.0508
2021-05-17 2021-03-31 13F TIDEWATER Com 88642R109 2,771,774 91,876 3.43 34,730 50.00 12.9964
2021-03-05 2020-12-31 13F/A-1 TIDEWATER Com 88642R109 2,679,898 71,198 2.73 23,154 32.28 9.0730
2021-02-16 2020-12-31 13F TIDEWATER Com 88642R109 2,679,898 71,198 23,154 9,206,727.9017
2021-03-05 2020-09-30 13F/A-1 TIDEWATER Com 88642R109 2,608,700 161,562 6.60 17,504 27.95 8.5326
2020-11-16 2020-09-30 13F TIDEWATER Com 88642R109 2,608,700 161,562 17,504 8,532,626.1809
2021-03-05 2020-06-30 13F/A-1 TIDEWATER Com 88642R109 2,447,138 398,467 19.45 13,680 -5.69 7.6152
2020-08-14 2020-06-30 13F TIDEWATER Com 88642R109 2,447,138 398,467 13,680 7,615,188.0695
2021-03-05 2020-03-31 13F/A-1 TIDEWATER Com 88642R109 2,048,671 120,397 6.24 14,505 -60.98 7.0853
2020-05-15 2020-03-31 13F TIDEWATER Com 88642R109 2,048,671 120,397 14,505 7,085,252.6121
2021-03-05 2019-12-31 13F/A-1 TIDEWATER Com 88642R109 1,928,274 295,956 18.13 37,177 50.73 12.0375
2020-02-14 2019-12-31 13F TIDEWATER Com 88642R109 1,928,274 295,956 37,177 12,037,507.7305
2021-03-05 2019-09-30 13F/A-1 TIDEWATER Com 88642R109 1,632,318 60,728 3.86 24,664 -33.16 8.3976
2019-11-14 2019-09-30 13F TIDEWATER Com 88642R109 1,632,318 60,728 24,664 8,397,627.5272
2021-03-05 2019-06-30 13F/A-1 TIDEWATER Com 88642R109 1,571,590 7,468 0.48 36,901 1.73 11.4503
2019-08-14 2019-06-30 13F TIDEWATER Com 88642R109 1,571,590 7,468 36,901 11,450,265.6141
2021-03-05 2019-03-31 13F/A-1 TIDEWATER Com 88642R109 1,564,122 142,153 10.00 36,272 33.34 10.7467
2019-05-14 2019-03-31 13F TIDEWATER Com 88642R109 1,564,122 142,153 36,272 10,746,654.2624
2021-03-05 2018-12-31 13F/A-1 TIDEWATER Com 88642R109 1,421,969 1,421,969 27,202 8.8845
2019-02-14 2018-12-31 13F TIDEWATER Com 88642R109 1,421,969 27,202 8.8845
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.