Latest Mudita Advisors LLP Stock Portfolio

$490Million– No. of Holdings #28

Mudita Advisors LLP Performance:

2026 Q1: -0.06%YTD: -0.06%2025: 37.12%

Performance for 2026 Q1 is -0.06%, and YTD is -0.06%, and 2025 is 37.12%.

About Mudita Advisors LLP and 13F Hedge Fund Stock Holdings

On 2026-05-14, the fund reported it's updated stock portfolio. In the 13F Holdings report, Mudita Advisors LLP reported an equity portfolio of $490.1 Millions as of 31 Mar, 2026.

The top stock holdings of Mudita Advisors LLP are HGV, IAG, ESTA. The fund has invested 22.2% of it's portfolio in HILTON GRAND VACATIONS INC and 9.1% of portfolio in IAMGOLD CORP.

The fund managers got completely rid off GOLD ROYALTY CORP (GROY) stocks. They significantly reduced their stock positions in BARRICK MNG CORP, WARRIOR MET COAL INC (HCC) and HUDBAY MINERALS INC (HBM). Mudita Advisors LLP opened new stock positions in APPIAN CORP (APPN), CORE NATURAL RESOURCES INC and BUNGE GLOBAL SA (BG). The fund showed a lot of confidence in some stocks as they added substantially to FLUTTER ENTMT PLC, VERSABANK NEW (VBNK) and DARLING INGREDIENTS INC (DAR).

Mudita Advisors LLP Equity Portfolio Value

Last Reported on: 14 May, 2026

Mudita Advisors LLP Annual Return Estimates Vs S&P 500

Our best estimate is that Mudita Advisors LLP made a return of -0.06% in the last quarter. In trailing 12 months, it's portfolio return was 38.18%.

Performance
S&P 500

New Buys

Ticker	$ Bought
appian corp	20,237,900
core natural resources inc	15,123,000
bunge global sa	9,819,840
sasol ltd	7,870,930
zoom communications inc	6,334,730
s&p global inc	5,954,760
osisko development corp	3,575,000
advansix inc	2,020,490

New stocks bought by Mudita Advisors LLP

Additions

Ticker	% Inc.
flutter entmt plc	226
versabank new	107
darling ingredients inc	92.24
alamos gold inc	42.18
mgm resorts international	9.87
establishment labs hldgs inc	9.27
expand energy corporation	7.47
hilton grand vacations inc	6.59

Additions to existing portfolio by Mudita Advisors LLP

Reductions

Ticker	% Reduced
barrick mng corp	-92.73
warrior met coal inc	-67.52
allied gold corp	-66.84
hudbay minerals inc	-65.66
taseko mines ltd	-53.21
canadian nat res ltd med ter	-16.43
orla mng ltd new	-8.5

Mudita Advisors LLP reduced stake in above stock

Sold off

Ticker	$ Sold
gold royalty corp	-8,484,000

Mudita Advisors LLP got rid off the above stocks

Sector Distribution

Mudita Advisors LLP has about 37.5% of it's holdings in Others sector.

Others
Consumer Cyclical
Healthcare
Consumer Defensive
Energy
Technology
Basic Materials
Financial Services

Sector	%
Others	37.5
Consumer Cyclical	29.3
Healthcare	9.3
Consumer Defensive	7.4
Energy	6.1
Technology	5.4
Basic Materials	3.7
Financial Services	1.2

Market Cap. Distribution

Mudita Advisors LLP has about 2.5% of it's portfolio invested in the large-cap and mega-cap stocks.

MID-CAP
UNALLOCATED
SMALL-CAP
LARGE-CAP

Category	%
MID-CAP	49.2
UNALLOCATED	39.5
SMALL-CAP	8.3
LARGE-CAP	2.5

Stocks belong to which Index?

About 41.9% of the stocks held by Mudita Advisors LLP either belong to S&P 500 or RUSSELL 2000 index.

Others
RUSSELL 2000
S&P 500

Index	%
Others	58.1
RUSSELL 2000	31.5
S&P 500	10.4

Top 5 Winners (%)		%
DAR	darling ingredients inc	46.6 %
CNQ	canadian nat res ltd med ter	40.4 %
	allied gold corp	23.5 %
ORLA	orla mng ltd new	18.9 %
IAG	iamgold corp	14.1 %

Top 5 Winners ($)		$
CNQ	canadian nat res ltd med ter	8.7 M
DAR	darling ingredients inc	8.3 M
IAG	iamgold corp	5.5 M
ORLA	orla mng ltd new	3.7 M
	allied gold corp	2.6 M

Top 5 Losers (%)		%
MXCT	maxcyte inc	-54.7 %
	flutter entmt plc	-42.1 %
ESTA	establishment labs hldgs inc	-21.4 %
HGV	hilton grand vacations inc	-12.2 %
VBNK	versabank new	-4.1 %

Top 5 Losers ($)		$
HGV	hilton grand vacations inc	-15.2 M
ESTA	establishment labs hldgs inc	-11.8 M
	flutter entmt plc	-8.7 M
MXCT	maxcyte inc	-2.9 M
	barrick mng corp	-0.2 M

Mudita Advisors LLP Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of Mudita Advisors LLP

Mudita Advisors LLP has 28 stocks in it's portfolio. About 73.8% of the portfolio is in top 10 stocks. HGV proved to be the most loss making stock for the portfolio. CNQ was the most profitable stock for Mudita Advisors LLP last quarter.

Last Reported on: 14 May, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AGI	alamos gold inc	4.07	449,204	19,958,100	added	42.18

APPN	appian corp	4.13	839,400	20,237,900	new

ASIX	advansix inc	0.41	82,807	2,020,490	new

BG	bunge global sa	2.00	77,200	9,819,840	new

BSM	black stone minerals l p	2.35	760,877	11,504,500	unchanged	0.00

CHK	expand energy corporation	2.77	123,700	13,579,800	added	7.47

CNQ	canadian nat res ltd med ter	5.29	532,366	25,942,200	reduced	-16.43

DAR	darling ingredients inc	5.36	424,841	26,276,400	added	92.24

ESTA	establishment labs hldgs inc	8.86	764,563	43,411,900	added	9.27

GROY	gold royalty corp	0.00	0.00	0.00	sold off	-100

HBM	hudbay minerals inc	1.35	317,389	6,633,730	reduced	-65.66

HCC	warrior met coal inc	3.31	174,000	16,208,100	reduced	-67.52

HGV	hilton grand vacations inc	22.18	2,778,710	108,703,000	added	6.59

IAG	iamgold corp	9.12	2,375,300	44,690,100	unchanged	0.00

KGC	kinross gold corp	1.09	174,335	5,320,700	unchanged	0.00

MGM	mgm resorts international	7.14	945,938	35,009,200	added	9.87

MXCT	maxcyte inc	0.48	3,370,690	2,367,910	unchanged	0.00

NC	nacco inds inc	0.98	92,520	4,808,260	unchanged	0.00

ODV	osisko development corp	0.73	1,100,000	3,575,000	new

ORLA	orla mng ltd new	4.34	1,317,600	21,247,600	reduced	-8.5