Institutional
Mudita Advisors LLP
CIK 0001907809
$490.1M
Reported AUM
28
Positions
Q1 2026
Period
2026-05-14
Filed
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%.
Portfolio · Q1 2026
Top holdings
QoQ vs Q4 2025
| # | Stock | Issuer | Price | Day % | 1Y Gr. | 5Y Gr. | Value | % of book | Δ shares (QoQ) | Status |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | HGV | HILTON GRAND VACATIONS INC | $49.63 | -0.21% | 23.95% | 22.30% | $108.7M | 22.18% | +171,694 | +6.6% |
| 2 | IAG | IAMGOLD CORP | $15.58 | 1.04% | 107.26% | 462.77% | $44.7M | 9.12% | — | HELD |
| 3 | ESTA | ESTABLISHMENT LABS HLDGS INC | $76.28 | 2.65% | 95.55% | -6.28% | $43.4M | 8.86% | +64,860 | +9.3% |
| 4 | MGM | MGM RESORTS INTERNATIONAL | $47.51 | -0.90% | 49.12% | 26.65% | $35.0M | 7.14% | +85,000 | +9.9% |
| 5 | DAR | DARLING INGREDIENTS INC | $59.45 | -2.09% | 93.33% | -13.93% | $26.3M | 5.36% | +203,841 | +92.2% |
| 6 | CNQ | CANADIAN NAT RES LTD MED TER | $45.70 | -4.11% | 47.96% | 249.86% | $25.9M | 5.29% | −104,678 | −16.4% |
| 7 | ORLA | ORLA MNG LTD NEW | $10.81 | 0.05% | -2.58% | 157.09% | $21.2M | 4.34% | −122,400 | −8.5% |
| 8 | APPN | APPIAN CORP | $24.73 | 0.65% | -23.15% | -78.76% | $20.2M | 4.13% | +839,400 | NEW |
| 9 | AGI | ALAMOS GOLD INC | $35.52 | -8.00% | 33.46% | 353.47% | $20.0M | 4.07% | +133,261 | +42.2% |
| 10 | HCC | WARRIOR MET COAL INC | $98.65 | -1.27% | 111.50% | 493.31% | $16.2M | 3.31% | −361,765 | −67.5% |
| 11 | CNR | CORE NATURAL RESOURCES INC | $93.44 | -5.53% | 39.96% | 382.84% | $15.1M | 3.09% | +144,400 | NEW |
| 12 | EXE | EXPAND ENERGY CORPORATION | $92.07 | -1.42% | -19.02% | 115.20% | $13.6M | 2.77% | +8,600 | +7.5% |
| 13 | TGB | TASEKO MINES LTD | $6.86 | 3.08% | 117.32% | 267.40% | $13.2M | 2.70% | −2,335,192 | −53.2% |
| 14 | FLUT | FLUTTER ENTMT PLC | $100.23 | -0.26% | -59.74% | -41.91% | $11.9M | 2.43% | +81,100 | +226.1% |
| 15 | BSM | BLACK STONE MINERALS L P | $13.96 | 0.48% | 11.09% | 115.93% | $11.5M | 2.35% | — | HELD |
| 16 | BG | BUNGE GLOBAL SA | $128.46 | 1.58% | 74.41% | 86.38% | $9.8M | 2.00% | +77,200 | NEW |
| 17 | SSL | SASOL LTD | $13.47 | 1.35% | 192.83% | 2.76% | $7.9M | 1.61% | +607,325 | NEW |
| 18 | HBM | HUDBAY MINERALS INC | $26.14 | 1.87% | 166.82% | 262.03% | $6.6M | 1.35% | −606,800 | −65.7% |
| 19 | ZNGA | ZOOM COMMUNICATIONS INC | — | — | — | — | $6.3M | 1.29% | +78,800 | NEW |
| 20 | SPGI | S&P GLOBAL INC | $424.44 | 1.03% | -17.59% | 3.23% | $6.0M | 1.22% | +14,000 | NEW |
| 21 | KGC | KINROSS GOLD CORP | $26.22 | -8.32% | 74.49% | 336.81% | $5.3M | 1.09% | — | HELD |
| 22 | AAUC | ALLIED GOLD CORP | $25.86 | 1.41% | 71.03% | 258.65% | $5.0M | 1.01% | −323,000 | −66.8% |
| 23 | NC | NACCO INDS INC | $52.72 | -0.92% | 48.66% | 137.74% | $4.8M | 0.98% | — | HELD |
| 24 | ODV | OSISKO DEVELOPMENT CORP | $2.47 | -7.84% | 10.71% | -83.13% | $3.6M | 0.73% | +1,100,000 | NEW |
| 25 | VBNK | VERSABANK NEW | $19.23 | 1.26% | 85.85% | 80.11% | $2.9M | 0.59% | +105,334 | +107.9% |
| 26 | MXCT | MAXCYTE INC | $1.20 | 4.82% | -46.98% | -92.58% | $2.4M | 0.48% | — | HELD |
| 27 | ASIX | ADVANSIX INC | $21.48 | -2.63% | -6.76% | -28.62% | $2.0M | 0.41% | +82,807 | NEW |
| 28 | B | BARRICK MNG CORP | $39.46 | -7.78% | 103.64% | 108.72% | $457K | 0.09% | −142,900 | −92.7% |
| 29 | GROY | GOLD ROYALTY CORP | $2.83 | -9.00% | 39.41% | -40.36% | — | — | −2,100,000 | EXITED |
Source: SEC EDGAR · accession 0001172661-26-001925. 13F discloses long positions only — shorts, foreign equities, and options are excluded.