Managers / Q4 2024 · view latest →
Mudita Advisors LLP
CIK 0001907809 · 8 ST JAMES'S SQUARE, 6TH FLOOR, LONDON, X0, SW1Y 4JU · 442038487530
Summary
Mudita Advisors LLP reported $178M in U.S.-listed holdings across 18 positions for Q4 2024.
The portfolio is heavily concentrated: HGV alone accounts for 21.0% of reported value.
Compared with Q3 2024, the fund opened 2 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, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. 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 · 78.4% · $140M
- Other · 15.3% · $27M
- MLP · 6.2% · $11M
Quarter-over-Quarter Changes full breakdown →
vs Q3 2024 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| USX1UNITED STATES STL CORP NEW | NEW | +132.2K | 132.2K | +$4M | $4M |
| KGCKINROSS GOLD CORP | NEW | +375.0K | 375.0K | +$3M | $3M |
| ELDELDORADO GOLD CORP NEW | ADDED | +222.8K | 335.4K | +$3M | $5M |
| FLUTTER ENTMT PLC | ADDED | +11.5K | 18.7K | +$3M | $5M |
| SHCSOTERA HEALTH CO | SOLD OUT | −406.3K | 0 | −$7M | $0 |
| IMGIAMGOLD CORP | ADDED | +671.4K | 1.47M | +$3M | $8M |
| APOAPOLLO GLOBAL MGMT INC | TRIMMED | −139.0K | 49.6K | −$15M | $8M |
| CHARLES RIV LABS INTL INC | TRIMMED | −17.1K | 9.6K | −$3M | $2M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2024
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | HGVHILTON GRAND VACATIONS INChistory → | COM | 21.01% | $37M | 961.0K |
| 2 | HCCWARRIOR MET COAL INChistory → | COM | 12.01% | $21M | 394.4K |
| 3 | ESTABLISHMENT LABS HLDGS INC | COM | 10.72% | $19M | 414.5K |
| 4 | CRCCANADIAN NAT RES LTDhistory → | COM | 9.86% | $18M | 568.7K |
| 5 | MXCTGBXMAXCYTE INChistory → | COM | 7.53% | $13M | 3.22M |
| 6 | BSMBLACK STONE MINERALS L Phistory → | COM UNIT | 6.24% | $11M | 760.9K |
| 7 | AGIALAMOS GOLD INC NEWhistory → | COM CL A | 5.15% | $9M | 497.3K |
| 8 | APOAPOLLO GLOBAL MGMT INChistory → | COM | 4.60% | $8M | 49.6K |
| 9 | IMGIAMGOLD CORPhistory → | COM | 4.27% | $8M | 1.47M |
| 10 | ABXBARRICK GOLD CORPhistory → | COM | 4.01% | $7M | 461.3K |
| 11 | ELDELDORADO GOLD CORP NEWhistory → | COM | 2.80% | $5M | 335.4K |
| 12 | FLUTTER ENTMT PLC | SHS | 2.72% | $5M | 18.7K |
| 13 | USX1UNITED STATES STL CORP NEWhistory → | COM | 2.52% | $4M | 132.2K |
| 14 | KGCKINROSS GOLD CORPhistory → | COM | 1.95% | $3M | 375.0K |
| 15 | MAC COPPER LIMITED | ORD SHS | 1.88% | $3M | 314.8K |
| 16 | CHARLES RIV LABS INTL INC | COM | 1.00% | $2M | 9.6K |
| 17 | HBMHUDBAY MINERALS INC | COM | 0.93% | $2M | 203.3K |
| 18 | NGDNNEW GOLD INC CDA | COM | 0.82% | $1M | 588.6K |
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 ↗.