MA
Mudita Advisors LLP: 13F Stock Holdings & Portfolio (Q2 2026)
Mudita Advisors LLPCIK: 0001907809
Momentum followerQuality / disciplined sizingSector-focused
Total reported value
$481.0M
Reporting period: 2026-06-30 · Number of holdings: 24
Mudita Advisors LLP disclosed 24 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $481.0M and a quarterly turnover rate of 38.0%.
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Personality snowflake
- Concentration
- 54.6
- Portfolio Stability
- 37.99
- Momentum
- 100
- Sector conviction
- 78.17
- Diversification
- 48
- Sizing Uniformity
- 84.59
Mudita Advisors LLP's disclosed holdings carry a Herfindahl concentration index of 0.136 — mathematically equivalent to about 7 equally-sized positions, well below its 24 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.54), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 4.1 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Sector classification currently covers about 32% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd HGV
+1.1% $38.4M
Add G31249108
-5.4% $18.6M
New buy 89472Y107
Sold out EXE
Trim ORLA
-40.0% -$13.5M
Sold out TGB
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | HGV | Hilton Grand Vacations Inc | Stock-Other | 30.58% | +8.40% | +1.08% | |
| 2 | ✓ | Establishment Labs Holdings In | Stock-Other | 12.90% | +4.04% | -5.43% | |
| 3 | MGM | Mgm Resorts International | Stock-Consumer Disc | 9.40% | +2.26% | — | |
| 4 | IAG | Iamgold CORP | Stock-Other | 7.83% | -1.29% | — | |
| 5 | DAR | Darling Ingredients Inc | Stock-Consumer Staples | 4.82% | -0.54% | — | |
| 6 | CNQ | Canadian Natural Resources | Stock-Energy | 4.37% | -0.92% | — | |
| 7 | APPN | Appian Corp-a | Stock-Other | 4.00% | -0.13% | — | |
| 8 | ✓ | Stock-Other | 2.94% | +2.94% | NEW | ||
| 9 | HCC | Warrior Met Coal Inc | Stock-Materials | 2.94% | -0.37% | — | |
| 10 | AGI | Alamos Gold Inc-class A | Stock-Materials | 2.83% | -1.24% | — | |
| 11 | CNR | Core Natural Resources Inc | Stock-Energy | 2.82% | -0.27% | +17.31% | |
| 12 | FLUT | Flutter Entertainment plc | Stock-Consumer Disc | 2.59% | +0.16% | +4.27% | |
| 13 | BSM | Black Stone Minerals LP | Stock-Other | 2.21% | -0.14% | — | |
| 14 | ORLA | Orla Mining LTD | Stock-Other | 1.61% | -2.73% | -40.02% | |
| 15 | HBM | Hudbay Minerals Inc | Stock-Other | 1.56% | +0.21% | — | |
| 16 | SPGI | S&p Global Inc | Stock-Financials | 1.19% | -0.03% | — | |
| 17 | VBNK | Versabank | Stock-Other | 0.98% | +0.39% | — | |
| 18 | NC | Nacco Industries-cl A | Stock-Other | 0.96% | -0.02% | — | |
| 19 | MXCT | Maxcyte Inc | Stock-Other | 0.86% | +0.38% | — | |
| 20 | KGC | Kinross Gold CORP | Stock-Materials | 0.86% | -0.23% | — | |
| 21 | ASIX | Advansix Inc | Stock-Other | 0.70% | +0.29% | +105.89% | |
| 22 | ODV | Osisko Development CORP | Stock-Other | 0.56% | -0.17% | — | |
| 23 | AAUC | Allied Gold CORP | Stock-Other | 0.42% | -0.59% | -46.81% | |
| 24 | B | Barrick Mining CORP | Stock-Materials | 0.09% | — | — |
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Portfolio Performance
Performance for Q3 2026
+1.1%
Performance Last 4 Quarters
+35.9%
Based on 86% of reported portfolio value with available pricing
- Stdev
- +20.4%
- Beta
- +0.8
- Alpha
- +3.8%
- Max Drawdown
- -12.3%
- Annualized Perf
- +19.3%
- Batting Avg vs S&P
- +50%
- Sortino
- +1.77
- Stutzer
- +0.28
- Treynor
- +0.25
- Sterling
- +0.96
- Calmar
- +1.57
- Information Ratio
- -0.01
- Tracking Error
- +17.7%
- Stdev Down
- +11.2%
- Winning Months %
- +63.9%
- Losing Months %
- +36.1%
- Best 12 Months
- +59.5%
- Worst 12 Months
- -4.9%
- Efficiency Ratio
- +0.38
- Sharpe
- +0.97
- Stdev Sectors
- +11%
- Skewness
- -0.04
- Kurtosis
- -0.73
- Upside Potential
- +3.59
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 24 | $481.0M | 38 | ||
| 2026 Q1 | 28 | $490.1M | 45 | ||
| 2025 Q4 | 21 | $462.7M | 31 | ||
| 2025 Q3 | 19 | $345.8M | 65 | ||
| 2025 Q2 | 19 | $298.1M | 0 | ||
| 2025 Q1 | 17 | $197.9M | 0 | ||
| 2024 Q4 | 18 | $178.1M | 0 | ||
| 2024 Q3 | 17 | $182.7M | 0 | ||
| 2024 Q2 | 18 | $195.3M | 0 | ||
| 2024 Q1 | 16 | $167.9M | 0 | ||
| 2023 Q4 | 16 | $144.1M | 0 | ||
| 2023 Q3 | 17 | $137.0M | 0 | ||
| 2023 Q2 | 17 | $130.7M | 0 | ||
| 2023 Q1 | 16 | $111.7M | 0 | ||
| 2022 Q4 | 18 | $114.6M | 0 | ||
| 2022 Q3 | 20 | $107.7M | 0 | ||
| 2022 Q2 | 18 | $124.3M | 0 | ||
| 2022 Q1 | 18 | $149.5M | 0 | ||
| 2021 Q4 | 21 | $110.9M | 0 |
Holding changes this quarter
Mudita Advisors LLP's most significant position changes for 2026-06-30: New buy: ; Sold out: Expand Energy CORP (EXE); Sold out: Taseko Mines LTD (TGB); Sold out: Bunge Global SA (BG); Sold out: Sasol Ltd-sponsored Adr (SSL).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | HGV | Hilton Grand Vacations Inc | +8.4% | +1.08% | Add |
| 2 | ✓ | Establishment Labs Holdings In | +4% | -5.43% | Trim |
| 3 | ✓ | +2.9% | NEW | New buy | |
| 4 | MGM | Mgm Resorts International | +2.3% | — | Unchanged |
| 5 | VBNK | Versabank | +0.4% | — | Unchanged |
| 6 | MXCT | Maxcyte Inc | +0.4% | — | Unchanged |
| 7 | ASIX | Advansix Inc | +0.3% | +105.89% | Add |
| 8 | HBM | Hudbay Minerals Inc | +0.2% | — | Unchanged |
| 9 | FLUT | Flutter Entertainment plc | +0.2% | +4.27% | Add |
| 10 | B | Barrick Mining CORP | — | — | Unchanged |
| 11 | NC | Nacco Industries-cl A | 0% | — | Unchanged |
| 12 | SPGI | S&p Global Inc | 0% | — | Unchanged |
| 13 | APPN | Appian Corp-a | -0.1% | — | Unchanged |
| 14 | BSM | Black Stone Minerals LP | -0.1% | — | Unchanged |
| 15 | ODV | Osisko Development CORP | -0.2% | — | Unchanged |
| 16 | KGC | Kinross Gold CORP | -0.2% | — | Unchanged |
| 17 | CNR | Core Natural Resources Inc | -0.3% | +17.31% | Add |
| 18 | HCC | Warrior Met Coal Inc | -0.4% | — | Unchanged |
| 19 | DAR | Darling Ingredients Inc | -0.5% | — | Unchanged |
| 20 | AAUC | Allied Gold CORP | -0.6% | -46.81% | Trim |
| 21 | CNQ | Canadian Natural Resources | -0.9% | — | Unchanged |
| 22 | AGI | Alamos Gold Inc-class A | -1.2% | — | Unchanged |
| 23 | IAG | Iamgold CORP | -1.3% | — | Unchanged |
| 24 | ZM | Zoom Communications Inc | -1.3% | EXIT | Sold out |
| 25 | SSL | Sasol Ltd-sponsored Adr | -1.6% | EXIT | Sold out |
| 26 | BG | Bunge Global SA | -2% | EXIT | Sold out |
| 27 | TGB | Taseko Mines LTD | -2.7% | EXIT | Sold out |
| 28 | ORLA | Orla Mining LTD | -2.7% | -40.02% | Trim |
| 29 | EXE | Expand Energy CORP | -2.8% | EXIT | Sold out |
Filing History
FAQ
What is Mudita Advisors LLP and what type of investor is it?
Mudita Advisors LLP is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $481.0M, spread across 24 disclosed positions.
What are Mudita Advisors LLP's largest equity positions?
Based on the latest 13F filing, Mudita Advisors LLP's top holdings by market value are:
1. Hilton Grand Vacations Inc (HGV) — $147.1M (30.6%)
2. Establishment Labs Holdings In — $62.0M (12.9%)
3. Mgm Resorts International (MGM) — $45.2M (9.4%)
4. Iamgold CORP (IAG) — $37.6M (7.8%)
5. Darling Ingredients Inc (DAR) — $23.2M (4.8%)
What changes did Mudita Advisors LLP make in its most recent portfolio filing?
In the latest reported quarter, Mudita Advisors LLP made 13 notable position adjustments: 1 new positions were initiated, 4 existing holdings were added to, 3 positions were partially reduced, and 5 were completely exited. The largest of these moves: New buy: ; Sold out: Expand Energy CORP (EXE); Sold out: Taseko Mines LTD (TGB); Sold out: Bunge Global SA (BG); Sold out: Sasol Ltd-sponsored Adr (SSL)
What sectors does Mudita Advisors LLP focus on?
Mudita Advisors LLP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Consumer Discretionary: 37.6%
• Energy: 22.5%
• Materials: 21.0%
• Consumer Staples: 15.1%
• Financials: 3.7%
Investment Profile
Mudita Advisors LLP returned an annualized 19.3% over the trailing 36 months — outperforming the S&P 500 by 3.8 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.80 (less volatile than the market) and a 50% quarterly batting average against the index.
Its portfolio is moderately concentrated and moderately active, with 37.6% of the portfolio concentrated in Consumer Discretionary.
Its turnover score has risen from 0 to 38 over the past 4 quarters — a shift toward more active trading.
It has added to its MGM position over the past two quarters (+$13.8M, now $45.2M), while trimming HCC over the same stretch (-$33.1M, still holding $14.1M).
Peer Institutions
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PI
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Developer Access
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