Managers / Q1 2023 · view latest →
Mudita Advisors LLP
CIK 0001907809 · 8 ST JAMES'S SQUARE, 6TH FLOOR, LONDON, X0, SW1Y 4JU · 442038487530
Summary
Mudita Advisors LLP reported $112M in U.S.-listed holdings across 16 positions for Q1 2023.
Its largest position, HGV, represents 15.6% of the portfolio.
Compared with Q4 2022, the fund opened 1 new position and exited 3.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 81.1% · $91M
- MLP · 11.3% · $13M
- Other · 4.9% · $6M
- ADR · 2.7% · $3M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2022 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| HCCWARRIOR MET COAL INC | NEW | +77.8K | 77.8K | +$3M | $3M |
| MXCTGBXMAXCYTE INC | ADDED | +572.5K | 662.7K | +$3M | $3M |
| MQ8MAG SILVER CORP | SOLD OUT | −125.0K | 0 | −$2M | $0 |
| UPWKUPWORK INC | SOLD OUT | −135.7K | 0 | −$1M | $0 |
| NRPNATURAL RESOURCE PARTNERS L | SOLD OUT | −21.9K | 0 | −$1M | $0 |
| LWLAMB WESTON HLDGS INC | TRIMMED | −34.1K | 11.8K | −$3M | $1M |
| SWN1EURSOUTHWESTERN ENERGY CO | TRIMMED | −213.6K | 220.1K | −$1M | $1M |
| BSMBLACK STONE MINERALS L P | TRIMMED | −480.4K | 801.6K | −$9M | $13M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | HGVHILTON GRAND VACATIONS INChistory → | COM | 15.64% | $17M | 392.9K |
| 2 | CRCCANADIAN NAT RES LTDhistory → | COM | 14.59% | $16M | 294.4K |
| 3 | BSMBLACK STONE MINERALS L Phistory → | COM UNIT | 11.26% | $13M | 801.6K |
| 4 | APOAPOLLO GLOBAL MGMT INChistory → | COM | 10.38% | $12M | 183.6K |
| 5 | AGIALAMOS GOLD INC NEWhistory → | COM CL A | 8.92% | $10M | 814.0K |
| 6 | MOSMOSAIC CO NEWhistory → | COM | 7.78% | $9M | 189.2K |
| 7 | ABXBARRICK GOLD CORPhistory → | COM | 6.41% | $7M | 385.3K |
| 8 | ESTABLISHMENT LABS HLDGS INC | COM | 4.93% | $6M | 81.2K |
| 9 | NGDNNEW GOLD INC CDAhistory → | COM | 3.86% | $4M | 3.92M |
| 10 | HCQAMN HEALTHCARE SVCS INChistory → | COM | 3.64% | $4M | 49.0K |
| 11 | MXCTGBXMAXCYTE INChistory → | COM | 2.94% | $3M | 662.7K |
| 12 | VALE S A | SPONSORED ADS | 2.74% | $3M | 194.1K |
| 13 | HCCWARRIOR MET COAL INChistory → | COM | 2.56% | $3M | 77.8K |
| 14 | SHCSOTERA HEALTH COhistory → | COM | 2.27% | $3M | 141.3K |
| 15 | LWLAMB WESTON HLDGS INChistory → | COM | 1.10% | $1M | 11.8K |
| 16 | SWN1EURSOUTHWESTERN ENERGY CO | COM | 0.99% | $1M | 220.1K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $490M | 28 | May 14, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $463M | 21 | Feb 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $346M | 19 | Nov 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $298M | 19 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $198M | 17 | May 19, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $178M | 18 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $183M | 17 | Nov 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $195M | 18 | Aug 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $168M | 16 | May 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $144M | 16 | Feb 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $137M | 17 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $131M | 17 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $112M | 16 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $115M | 18 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $108M | 20 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $124M | 18 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $150M | 18 | May 13, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $111M | 21 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.