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Mudita Advisors LLP

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13F filer, CIK 1907809, London, United Kingdom

Mudita Advisors LLP reported $481,045,547 across 24 holdings for the quarter ended 2026-06-30, in a 13F-HR filed 2026-08-13. Its ten largest share positions make up 82.6% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-26-003403

Period
2026-06-30
Reported value
$481M
Holdings
24
Top 10 weight
82.6%
New
1
Sold out
5

Stakes and trades reported after 2026-06-30

13D, 13G and Form 4 filings by this filer's group, dated after the 13F period, on securities the quarter does not hold as shares.

  • MTAL METALS ACQUISITION CORP II: 13G/A 2,500,000 shares, 8.15% of the class, 13G/A filed 2026-10-05, 0001172661-26-004393Timeline
    Accepted , ingested

Largest buys vs the previous quarter

SecurityShares changeApprox. value
TGBnew+2,053,209$14.1M
CNRadded+25,000$2M
ASIXadded+87,683$1.74M
HGVadded+30,000$1.57M
FLUTadded+5,000$510K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
EXEexited-123,700-$13.6M
TGBexited-2,053,209-$13.2M
BGexited-77,200-$9.82M
SSLexited-607,325-$7.87M
ZMexited-78,800-$6.33M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2026

Share positions as resolved from 13F-HR 0001172661-26-003403, largest first. % of portfolio is the value over $481,045,547, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
HGVHILTON GRAND VACATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 916,765 shares; 2024Q4: 960,965 shares; 2025Q1: 1,097,665 shares; 2025Q2: 2,143,860 shares; 2025Q3: 2,333,146 shares; 2025Q4: 2,607,012 shares; 2026Q1: 2,778,706 shares; 2026Q2: 2,808,706 shares 2,808,706$147M30.58%+30,000Timeline
ESTAESTABLISHMENT LABS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 354,801 shares; 2024Q4: 414,500 shares; 2025Q1: 479,359 shares; 2025Q2: 600,664 shares; 2025Q3: 686,764 shares; 2025Q4: 699,703 shares; 2026Q1: 764,563 shares; 2026Q2: 723,063 shares 723,063$62M12.9%-41,500Timeline
MGMMGM RESORTS INTERNATIONALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 303,838 shares; 2025Q3: 628,338 shares; 2025Q4: 860,938 shares; 2026Q1: 945,938 shares; 2026Q2: 945,938 shares 945,938$45.2M9.4%0Timeline
IAGIAMGOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 803,200 shares; 2024Q4: 1,474,605 shares; 2025Q1: 2,081,400 shares; 2025Q2: 2,681,600 shares; 2025Q3: 2,681,000 shares; 2025Q4: 2,375,300 shares; 2026Q1: 2,375,300 shares; 2026Q2: 2,375,300 shares 2,375,300$37.6M7.83%0Timeline
DARDARLING INGREDIENTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 111,800 shares; 2025Q3: 111,800 shares; 2025Q4: 221,000 shares; 2026Q1: 424,841 shares; 2026Q2: 424,841 shares 424,841$23.2M4.82%0Timeline
CNQCANADIAN NAT RES LTD MED TERQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 508,944 shares; 2024Q4: 568,744 shares; 2025Q1: 637,044 shares; 2025Q2: 637,044 shares; 2025Q3: 637,044 shares; 2025Q4: 637,044 shares; 2026Q1: 532,366 shares; 2026Q2: 532,366 shares 532,366$21M4.37%0Timeline
APPNAPPIAN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 839,400 shares; 2026Q2: 839,400 shares 839,400$19.2M4%0Timeline
TGBTREKOR METALS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 2,053,209 shares 2,053,209$14.1M2.94%newTimeline
HCCWARRIOR MET COAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 379,770 shares; 2024Q4: 394,370 shares; 2025Q1: 417,165 shares; 2025Q2: 558,565 shares; 2025Q3: 562,665 shares; 2025Q4: 535,765 shares; 2026Q1: 174,000 shares; 2026Q2: 174,000 shares 174,000$14.1M2.94%0Timeline
AGIALAMOS GOLD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 359,490 shares; 2024Q4: 497,251 shares; 2025Q1: 497,251 shares; 2025Q2: 477,804 shares; 2025Q3: 287,104 shares; 2025Q4: 315,943 shares; 2026Q1: 449,204 shares; 2026Q2: 449,204 shares 449,204$13.6M2.83%0Timeline
CNRCORE NATURAL RESOURCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 144,400 shares; 2026Q2: 169,400 shares 169,400$13.6M2.82%+25,000Timeline
FLUTFLUTTER ENTMT PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 7,209 shares; 2024Q4: 18,709 shares; 2025Q1: 35,409 shares; 2025Q2: 36,809 shares; 2025Q3: 38,536 shares; 2025Q4: 35,876 shares; 2026Q1: 116,976 shares; 2026Q2: 121,976 shares 121,976$12.5M2.59%+5,000Timeline
BSMBLACK STONE MINERALS L PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 760,877 shares; 2024Q4: 760,877 shares; 2025Q1: 760,877 shares; 2025Q2: 760,877 shares; 2025Q3: 760,877 shares; 2025Q4: 760,877 shares; 2026Q1: 760,877 shares; 2026Q2: 760,877 shares 760,877$10.6M2.21%0Timeline
ORLAORLA MNG LTD NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,400,000 shares; 2025Q4: 1,440,000 shares; 2026Q1: 1,317,600 shares; 2026Q2: 790,319 shares 790,319$7.74M1.61%-527,281Timeline
HBMHUDBAY MINERALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 203,305 shares; 2024Q4: 203,305 shares; 2025Q1: 353,305 shares; 2025Q2: 1,357,105 shares; 2025Q3: 924,505 shares; 2025Q4: 924,189 shares; 2026Q1: 317,389 shares; 2026Q2: 317,389 shares 317,389$7.49M1.56%0Timeline
SPGIS&P GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 14,000 shares; 2026Q2: 14,000 shares 14,000$5.7M1.19%0Timeline
VBNKVERSABANK NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 97,591 shares; 2026Q1: 202,925 shares; 2026Q2: 202,925 shares 202,925$4.71M0.98%0Timeline
NCNACCO INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 86,281 shares; 2025Q2: 92,520 shares; 2025Q3: 92,520 shares; 2025Q4: 92,520 shares; 2026Q1: 92,520 shares; 2026Q2: 92,520 shares 92,520$4.63M0.96%0Timeline
MXCTMAXCYTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 3,153,441 shares; 2024Q4: 3,223,407 shares; 2025Q1: 3,328,441 shares; 2025Q2: 3,370,689 shares; 2025Q3: 3,370,689 shares; 2025Q4: 3,370,689 shares; 2026Q1: 3,370,689 shares; 2026Q2: 3,370,689 shares 3,370,689$4.15M0.86%0Timeline
KGCKINROSS GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: 375,000 shares; 2025Q1: 471,200 shares; 2025Q2: 496,800 shares; 2025Q3: 174,335 shares; 2025Q4: 174,335 shares; 2026Q1: 174,335 shares; 2026Q2: 174,335 shares 174,335$4.12M0.86%0Timeline
ASIXADVANSIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 82,807 shares; 2026Q2: 170,490 shares 170,490$3.39M0.7%+87,683Timeline
ODVOSISKO DEVELOPMENT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 1,100,000 shares; 2026Q2: 1,100,000 shares 1,100,000$2.71M0.56%0Timeline
AAUCALLIED GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 233,334 shares; 2025Q3: 300,234 shares; 2025Q4: 483,234 shares; 2026Q1: 160,234 shares; 2026Q2: 85,234 shares 85,234$2.03M0.42%-75,000Timeline
BBARRICK MNG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 154,100 shares; 2026Q1: 11,200 shares; 2026Q2: 11,200 shares 11,200$411K0.09%0Timeline

Sold out in Q2 2026

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
EXEEXPAND ENERGY CORPORATION123,700$13.6Mshares
TGBTASEKO MINES LTD2,053,209$13.2Mshares
BGBUNGE GLOBAL SA77,200$9.82Mshares
SSLSASOL LTD607,325$7.87Mshares
ZMZOOM COMMUNICATIONS INC78,800$6.33Mshares

How Q2 2026 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001172661-26-003403 base2026-08-13acceptance time not in the bulk data set

Filings

Every filing of this filer: 13F reports and notices, the 13D and 13G it filed or is a reporting person of, and Forms 3, 4 and 5 it reported as an owner.

FilingSubjectFiledAcceptedIngested
13G/A 0001172661-26-004393 MTAL2026-10-05
13F-HR 0001172661-26-003403 Quarter ended 2026-06-302026-08-13acceptance time not in the bulk data set
13F-HR 0001172661-26-001925 Quarter ended 2026-03-312026-05-14acceptance time not in the bulk data set
13F-HR 0001172661-26-000800 Quarter ended 2025-12-312026-02-13acceptance time not in the bulk data set
13F-HR 0001172661-25-004771 Quarter ended 2025-09-302025-11-13acceptance time not in the bulk data set
13F-HR 0001172661-25-003390 Quarter ended 2025-06-302025-08-14acceptance time not in the bulk data set
13F-HR 0001172661-25-002420 Quarter ended 2025-03-312025-05-19acceptance time not in the bulk data set
13F-HR 0001172661-25-000917 Quarter ended 2024-12-312025-02-14acceptance time not in the bulk data set
13F-HR 0001172661-24-004672 Quarter ended 2024-09-302024-11-13acceptance time not in the bulk data set
13F-HR 0001172661-24-003309 Quarter ended 2024-06-302024-08-13acceptance time not in the bulk data set
13F-HR 0001172661-24-002313 Quarter ended 2024-03-312024-05-14acceptance time not in the bulk data set
13F-HR 0001172661-24-000853 Quarter ended 2023-12-312024-02-13acceptance time not in the bulk data set
13F-HR 0001172661-23-003823 Quarter ended 2023-09-302023-11-14acceptance time not in the bulk data set
13F-HR 0001172661-23-002969 Quarter ended 2023-06-302023-08-14acceptance time not in the bulk data set
13F-HR 0001172661-23-002166 Quarter ended 2023-03-312023-05-15acceptance time not in the bulk data set
13F-HR 0001172661-23-000862 Quarter ended 2022-12-312023-02-14acceptance time not in the bulk data set
13F-HR 0001172661-22-002375 Quarter ended 2022-09-302022-11-14acceptance time not in the bulk data set
13F-HR 0001172661-22-001841 Quarter ended 2022-06-302022-08-15acceptance time not in the bulk data set
13F-HR 0001172661-22-001256 Quarter ended 2022-03-312022-05-13acceptance time not in the bulk data set
13F-HR 0001172661-22-000480 Quarter ended 2021-12-312022-02-14acceptance time not in the bulk data set