Mudita Advisors LLP
Mudita Advisors LLP reported 24 US-listed holdings worth $481.0 million in its 13F for the quarter ended 30 June 2026, filed 13 August 2026. Its largest: Hilton Grand Vacations Inc. (30.6%), Establishment Labs Holdings In (12.9%) and MGM Resorts International (9.4%). Against the quarter before, it opened 1 position, added to 4, trimmed 3 and sold out of 5.
The 14 largest of its 24 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q1 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What its reported holdings returned
Held through each quarter, the holdings it reported returned +56.0% over the 7 quarters to 30 June 2026, against +30.2% for the S&P 500.
Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.
What it did on the quarter
Its positions against its 13F for the quarter to 31 March 2026; a change under 0.1% of a position counts as held
Opened 1
- Trekor Metals Ltd Com TGB$14.1 million
Added to 4
- Core Natural Resources, Inc. CNR+25,000 shares · +17%
- Advansix Inc. ASIX+87,683 shares · +106%
- Hilton Grand Vacations Inc. HGV+30,000 shares · +1%
- Flutter Entertainment plc FLUT+5,000 shares · +4%
Trimmed 3
- Orla MNG Ltd New ORLA-527,281 shares · -40%
- Establishment Labs Holdings In ESTA-41,500 shares · -5%
- Allied Gold Corp. AAUC-75,000 shares · -47%
Sold out of 5
- Expand Energy Corp. EXE$13.6 million last quarter
- Taseko Mines Ltd TGB$13.2 million last quarter
- Bunge Global SA BG$9.8 million last quarter
- Sasol Ltd SSL$7.9 million last quarter
- Zoom Video Communications in ZM$6.3 million last quarter
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| Hilton Grand Vacations Inc. HGV | 2.8M | $147.1 million | 30.58% | +30.0K |
| Establishment Labs Holdings In ESTA | 723.1K | $62.0 million | 12.90% | -41.5K |
| MGM Resorts International MGM | 945.9K | $45.2 million | 9.40% | no change |
| Iamgold Corp. IAG | 2.4M | $37.6 million | 7.83% | no change |
| Darling Ingredients Inc. DAR | 424.8K | $23.2 million | 4.82% | no change |
| Canadian Natural Resources Limited CNQ | 532.4K | $21.0 million | 4.37% | no change |
| Appian Corp. APPN | 839.4K | $19.2 million | 4.00% | no change |
| Trekor Metals Ltd Com TGB | 2.1M | $14.1 million | 2.94% | new |
| Warrior Met Coal, Inc. HCC | 174.0K | $14.1 million | 2.94% | no change |
| Alamos Gold Inc. New AGI | 449.2K | $13.6 million | 2.83% | no change |
| Core Natural Resources, Inc. CNR | 169.4K | $13.6 million | 2.82% | +25.0K |
| Flutter Entertainment plc FLUT | 122.0K | $12.5 million | 2.59% | +5.0K |
| Black Stone Minerals L P BSM | 760.9K | $10.6 million | 2.21% | no change |
| Orla MNG Ltd New ORLA | 790.3K | $7.7 million | 1.61% | -527.3K |
| Hudbay Minerals Inc. HBM | 317.4K | $7.5 million | 1.56% | no change |
| S&P Global Inc. SPGI | 14.0K | $5.7 million | 1.19% | no change |
| Versabank New VBNK | 202.9K | $4.7 million | 0.98% | no change |
| Nacco Inds Inc. NC | 92.5K | $4.6 million | 0.96% | no change |
| Maxcyte Inc. MXCT | 3.4M | $4.1 million | 0.86% | no change |
| Kinross Gold Corp. KGC | 174.3K | $4.1 million | 0.86% | no change |
| Advansix Inc. ASIX | 170.5K | $3.4 million | 0.70% | +87.7K |
| Osisko Development Corp. ODV | 1.1M | $2.7 million | 0.56% | no change |
| Allied Gold Corp. AAUC | 85.2K | $2.0 million | 0.42% | -75.0K |
| Barrick Mining Corp B | 11.2K | $411,376 | 0.09% | no change |