Managers / Q4 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 $144M in U.S.-listed holdings across 16 positions for Q4 2023.
Its largest position, HGV, represents 14.9% of the portfolio.
Compared with Q3 2023, the fund opened 0 new positions and exited 1.
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 · 86.4% · $125M
- MLP · 8.4% · $12M
- ADR · 2.6% · $4M
- Other · 2.6% · $4M
Quarter-over-Quarter Changes full breakdown →
vs Q3 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| HCQAMN HEALTHCARE SVCS INC | SOLD OUT | −39.7K | 0 | −$3M | $0 |
| NGDNNEW GOLD INC CDA | TRIMMED | −2.22M | 1.90M | −$975,780 | $3M |
| ESTABLISHMENT LABS HLDGS INC | ADDED | +47.3K | 142.4K | −$980,606 | $4M |
| MXCTGBXMAXCYTE INC | ADDED | +490.5K | 1.88M | +$5M | $9M |
| AGIALAMOS GOLD INC NEW | TRIMMED | −163.7K | 509.5K | −$737,485 | $7M |
| VALE S A | ADDED | +40.0K | 234.1K | +$1M | $4M |
| HCCWARRIOR MET COAL INC | ADDED | +31.5K | 195.9K | +$4M | $12M |
| HGVHILTON GRAND VACATIONS INC | ADDED | +69.7K | 534.7K | +$3M | $21M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | HGVHILTON GRAND VACATIONS INChistory → | COM | 14.91% | $21M | 534.7K |
| 2 | CRCCANADIAN NAT RES LTDhistory → | COM | 13.72% | $20M | 301.8K |
| 3 | APOAPOLLO GLOBAL MGMT INChistory → | COM | 12.92% | $19M | 199.7K |
| 4 | BSMBLACK STONE MINERALS L Phistory → | COM UNIT | 8.43% | $12M | 760.9K |
| 5 | HCCWARRIOR MET COAL INChistory → | COM | 8.29% | $12M | 195.9K |
| 6 | MOSMOSAIC CO NEWhistory → | COM | 6.34% | $9M | 255.5K |
| 7 | MXCTGBXMAXCYTE INChistory → | COM | 6.14% | $9M | 1.88M |
| 8 | ABXBARRICK GOLD CORPhistory → | COM | 5.79% | $8M | 461.3K |
| 9 | AGIALAMOS GOLD INC NEWhistory → | COM CL A | 4.76% | $7M | 509.5K |
| 10 | SHCSOTERA HEALTH COhistory → | COM | 3.66% | $5M | 313.1K |
| 11 | CHARLES RIV LABS INTL INC | COM | 3.45% | $5M | 21.0K |
| 12 | VALE S A | SPONSORED ADS | 2.58% | $4M | 234.1K |
| 13 | ESTABLISHMENT LABS HLDGS INC | COM | 2.56% | $4M | 142.4K |
| 14 | HBMHUDBAY MINERALS INChistory → | COM | 2.46% | $4M | 643.3K |
| 15 | SWN1EURSOUTHWESTERN ENERGY COhistory → | COM | 2.06% | $3M | 454.1K |
| 16 | NGDNNEW GOLD INC CDAhistory → | COM | 1.93% | $3M | 1.90M |
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 ↗.