Mudita Advisors LLP
London, X0
$481m in 24 US stocks at the end of 30 June 2026. The top 10 are 82.6% of the money. It changed about 19.1% of the portfolio this quarter.
Value
$481m
Stocks
24
Top 10 share
82.6%
Turnover
19.1%
What changed this quarter
New
Bought for the first time this quarter.
- Trekor MetalsTGB2.9% of the fund
Added
Bought more of a stock they already held.
- Core Natural ResourcesCNR2.8% of the fund+17%
- Flutter EntertainmentFLUT2.6% of the fund+4%
- AdvanSixASIX0.7% of the fund+106%
Cut
Sold some of their stake.
- Establishment Labs HoldingsESTA12.9% of the fund-5%
- Orla MNG LTD NewORLA1.6% of the fund-40%
- Allied GoldAAUC0.4% of the fund-47%
Sold out
Sold their entire stake.
- Expand EnergyEXE-100%
- Taseko Mines-100%
- Bunge Global SABG-100%
- SasolSSL-100%
- Zoom CommunicationsZM-100%
Holdings
- IamgoldIAG
- Share
- 7.8%
- Value
- $38m
- Shares
- 2,375,300
Held
- Canadian Natural ResourcesCNQ
- Share
- 4.4%
- Value
- $21m
- Shares
- 532,366
Held
- Trekor MetalsTGB
- Share
- 2.9%
- Value
- $14m
- Shares
- 2,053,209
New
- Alamos GoldAGI
- Share
- 2.8%
- Value
- $14m
- Shares
- 449,204
Held
- Black Stone Minerals L PBSM
- Share
- 2.2%
- Value
- $11m
- Shares
- 760,877
Held
- Orla MNG LTD NewORLA
- Share
- 1.6%
- Value
- $8m
- Shares
- 790,319
-40%
- Hudbay MineralsHBM
- Share
- 1.6%
- Value
- $7m
- Shares
- 317,389
Held
- VersaBankVBNK
- Share
- 1.0%
- Value
- $5m
- Shares
- 202,925
Held
- Kinross GoldKGC
- Share
- 0.9%
- Value
- $4m
- Shares
- 174,335
Held
- Osisko Development
- Share
- 0.6%
- Value
- $3m
- Shares
- 1,100,000
Held
- Allied GoldAAUC
- Share
- 0.4%
- Value
- $2m
- Shares
- 85,234
-47%
- Barrick MiningB
- Share
- <0.1%
- Value
- $411,376
- Shares
- 11,200
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Hilton Grand VacationsHGV | 30.6% | $147m | 2,808,706 | Held |
| Establishment Labs HoldingsESTA | 12.9% | $62m | 723,063 | -5% |
| MGM Resorts InternationalMGM | 9.4% | $45m | 945,938 | Held |
| IamgoldIAG | 7.8% | $38m | 2,375,300 | Held |
| Darling IngredientsDAR | 4.8% | $23m | 424,841 | Held |
| Canadian Natural ResourcesCNQ | 4.4% | $21m | 532,366 | Held |
| AppianAPPN | 4.0% | $19m | 839,400 | Held |
| Trekor MetalsTGB | 2.9% | $14m | 2,053,209 | New |
| Warrior MET CoalHCC | 2.9% | $14m | 174,000 | Held |
| Alamos GoldAGI | 2.8% | $14m | 449,204 | Held |
| Core Natural ResourcesCNR | 2.8% | $14m | 169,400 | +17% |
| Flutter EntertainmentFLUT | 2.6% | $12m | 121,976 | +4% |
| Black Stone Minerals L PBSM | 2.2% | $11m | 760,877 | Held |
| Orla MNG LTD NewORLA | 1.6% | $8m | 790,319 | -40% |
| Hudbay MineralsHBM | 1.6% | $7m | 317,389 | Held |
| S&P GlobalSPGI | 1.2% | $6m | 14,000 | Held |
| VersaBankVBNK | 1.0% | $5m | 202,925 | Held |
| Nacco IndustriesNC | 1.0% | $5m | 92,520 | Held |
| MaxcyteMXCT | 0.9% | $4m | 3,370,689 | Held |
| Kinross GoldKGC | 0.9% | $4m | 174,335 | Held |
| AdvanSixASIX | 0.7% | $3m | 170,490 | +106% |
| Osisko Development | 0.6% | $3m | 1,100,000 | Held |
| Allied GoldAAUC | 0.4% | $2m | 85,234 | -47% |
| Barrick MiningB | <0.1% | $411,376 | 11,200 | Held |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 61.4% since 30 June 2025.
Where the money is
Retail & consumer40.0%
Materials17.2%
Health care13.8%
Energy11.1%
Technology6.6%
Everyday goods4.8%
Financial services2.2%
Other4.4%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.