Mudita Advisors LLP
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 13, 2026), Mudita Advisors LLP reported 24 stock positions worth $481.0 million. Its top holding was Hilton Grand Vacations (HGV) at 30.6% of the portfolio, followed by Establishment Labs (ESTA, 12.9%) and MGM Resorts International (MGM, 9.4%). Compared with Q1 2026, it sold out of 4, added to 4 and reduced 3. The biggest buy was Hilton Grand Vacations (HGV, shares +1%) and the biggest sale an exit from Expand Energy (EXE).
- Most Recent 13F
- Q2 2026
- Location
- London, X0
- CIK
- 0001907809
- Portfolio Value
- $481.0M (Q2 2026)
- SEC Filing
- 0001172661-26-003403 ↗ filed Aug 13, 2026
Holdings Value
Holdings 24 stocks · $481.0M
| HGV Hilton Grand Vacations Inc. | 30.58% | 2,808,706 | $147.1M | Add +1.1% |
| ESTA Establishment Labs Holdings | 12.90% | 723,063 | $62.0M | Reduce -5.4% |
| MGM MGM Resorts International | 9.40% | 945,938 | $45.2M | No change |
| IAG Iamgold Corp. | 7.83% | 2,375,300 | $37.6M | No change |
| DAR Darling Ingredients Inc. | 4.82% | 424,841 | $23.2M | No change |
| CNQ Canadian Natural Resources | 4.37% | 532,366 | $21.0M | No change |
| APPN Appian Corp. Class A | 4.00% | 839,400 | $19.2M | No change |
| TGB Trekor Metals Ltd. | 2.94% | 2,053,209 | $14.1M | No change |
| HCC Warrior Met Coal Inc. | 2.94% | 174,000 | $14.1M | No change |
| AGI Alamos Gold Inc. Class A | 2.83% | 449,204 | $13.6M | No change |
| CNR Core Natural Resources Inc. | 2.82% | 169,400 | $13.6M | Add +17.3% |
| FLUT Flutter Entertainment PLC-Di | 2.59% | 121,976 | $12.5M | Add +4.3% |
| BSM Black Stone Minerals LP | 2.21% | 760,877 | $10.6M | No change |
| ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW | 1.61% | 790,319 | $7.7M | Reduce -40.0% |
| HBM Hudbay Minerals Inc. | 1.56% | 317,389 | $7.5M | No change |
| SPGI S&P Global Inc. | 1.19% | 14,000 | $5.7M | No change |
| VBNK Versabank | 0.98% | 202,925 | $4.7M | No change |
| NC Nacco Industries Class A | 0.96% | 92,520 | $4.6M | No change |
| MXCT Maxcyte Inc. | 0.86% | 3,370,689 | $4.1M | No change |
| KGC Kinross Gold Corp. | 0.86% | 174,335 | $4.1M | No change |
| ASIX Advansix Inc. | 0.70% | 170,490 | $3.4M | Add +105.9% |
| OSISKO DEVELOPMENT CORP | 0.56% | 1,100,000 | $2.7M | No change |
| AAUC Allied Gold Corp. | 0.42% | 85,234 | $2.0M | Reduce -46.8% |
| B Barrick Mining Corp. | 0.09% | 11,200 | $411K | No change |
Portfolio Sells Q1 2026 → Q2 2026
| EXE Expand Energy Corp. | Sold out | 0.00% | −2.77 |
| ORLA Orla Mining Ltd. | Reduce -40.0% | 1.61% | −2.73 |
| BG Bunge Global SA | Sold out | 0.00% | −2.00 |
| SSL Sasol Ltd.-Sponsored ADR | Sold out | 0.00% | −1.61 |
| ZM Zoom Communications Inc. | Sold out | 0.00% | −1.29 |
| AAUC Allied Gold Corp. | Reduce -46.8% | 0.42% | −0.59 |
| ESTA Establishment Labs Holdings | Reduce -5.4% | 12.90% | +4.04 |
Portfolio Buys Q1 2026 → Q2 2026
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 24 | $481.0M | HGV, ESTA, MGM, IAG, DAR |
| Q1 2026 | 28 | $490.1M | HGV, IAG, ESTA, MGM, DAR |
| Q4 2025 | 21 | $462.7M | HGV, ESTA, HCC, IAG, MGM |
| Q3 2025 | 19 | $345.8M | HGV, HCC, IAG, ESTA, MGM |
| Q2 2025 | 19 | $298.1M | HGV, ESTA, HCC, CNQ, IAG |
| Q1 2025 | 17 | $197.9M | HGV, HCC, CNQ, ESTA, AGI |
| Q4 2024 | 18 | $178.1M | HGV, HCC, ESTA, CNQ, MXCT |
| Q3 2024 | 17 | $182.7M | HGV, HCC, APO, CNQ, ESTA |
| Q2 2024 | 18 | $195.3M | HGV, APO, HCC, CNQ, ESTA |
| Q1 2024 | 16 | $167.9M | HGV, APO, CNQ, HCC, BSM |