Q1 2026 · 13F-HR
Mudita Advisors LLPholdings as filed
Filed 2026-05-14 · accession 0001172661-26-001925
$490.1M
Reported value
28
Positions
2026-03-31
Period end
The Brief · Mudita Advisors LLP · Q1 2026
AI · grounded in 13F
Mudita Advisors LLP initiated a new position in APPN valued at $20.2M. The fund also opened new stakes in CNR for $15.1M and BG for $9.8M. On the sell side, the fund closed its position in GROY, reducing its exposure by $8.5M. Other notable activity included trimming shares of HCC by 67.5% and HBM by 65.7%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 43283X105 | HGV | HILTON GRAND VACATIONS INC | $108.7M | 22.2% | 2,778,706 | Common | SOLE |
| 450913108 | IAG | IAMGOLD CORP | $44.7M | 9.12% | 2,375,300 | Common | SOLE |
| G31249108 | ESTA | ESTABLISHMENT LABS HLDGS INC | $43.4M | 8.86% | 764,563 | Common | SOLE |
| 552953101 | MGM | MGM RESORTS INTERNATIONAL | $35.0M | 7.14% | 945,938 | Common | SOLE |
| 237266101 | DAR | DARLING INGREDIENTS INC | $26.3M | 5.36% | 424,841 | Common | SOLE |
| 136385101 | CNQ | CANADIAN NAT RES LTD MED TER | $25.9M | 5.29% | 532,366 | Common | SOLE |
| 68634K106 | ORLA | ORLA MNG LTD NEW | $21.2M | 4.34% | 1,317,600 | Common | SOLE |
| 03782L101 | APPN | APPIAN CORP | $20.2M | 4.13% | 839,400 | Common | SOLE |
| 011532108 | AGI | ALAMOS GOLD INC | $20.0M | 4.07% | 449,204 | Common | SOLE |
| 93627C101 | HCC | WARRIOR MET COAL INC | $16.2M | 3.31% | 174,000 | Common | SOLE |
| 218937100 | CNR | CORE NATURAL RESOURCES INC | $15.1M | 3.09% | 144,400 | Common | SOLE |
| 165167735 | EXE | EXPAND ENERGY CORPORATION | $13.6M | 2.77% | 123,700 | Common | SOLE |
| 876511106 | TGB | TASEKO MINES LTD | $13.2M | 2.70% | 2,053,209 | Common | SOLE |
| G3643J108 | FLUT | FLUTTER ENTMT PLC | $11.9M | 2.43% | 116,976 | Common | SOLE |
| 09225M101 | BSM | BLACK STONE MINERALS L P | $11.5M | 2.35% | 760,877 | Common | SOLE |
| H11356104 | BG | BUNGE GLOBAL SA | $9.8M | 2.00% | 77,200 | Common | SOLE |
| 803866300 | SSL | SASOL LTD | $7.9M | 1.61% | 607,325 | Common | SOLE |
| 443628102 | HBM | HUDBAY MINERALS INC | $6.6M | 1.35% | 317,389 | Common | SOLE |
| 98980L101 | ZNGA | ZOOM COMMUNICATIONS INC | $6.3M | 1.29% | 78,800 | Common | SOLE |
| 78409V104 | SPGI | S&P GLOBAL INC | $6.0M | 1.22% | 14,000 | Common | SOLE |
| 496902404 | KGC | KINROSS GOLD CORP | $5.3M | 1.09% | 174,335 | Common | SOLE |
| 01921D204 | AAUC | ALLIED GOLD CORP | $5.0M | 1.01% | 160,234 | Common | SOLE |
| 629579103 | NC | NACCO INDS INC | $4.8M | 0.98% | 92,520 | Common | SOLE |
| 68828E809 | ODV | OSISKO DEVELOPMENT CORP | $3.6M | 0.73% | 1,100,000 | Common | SOLE |
| 92512J106 | VBNK | VERSABANK NEW | $2.9M | 0.59% | 202,925 | Common | SOLE |
| 57777K106 | MXCT | MAXCYTE INC | $2.4M | 0.48% | 3,370,689 | Common | SOLE |
| 00773T101 | ASIX | ADVANSIX INC | $2.0M | 0.41% | 82,807 | Common | SOLE |
| 06849F108 | B | BARRICK MNG CORP | $456,848 | 0.09% | 11,200 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.