1y return+47.0%S&P 500 +20.9%
3y return+75.2%S&P 500 +68.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since December 31, 2021: $190 against $157 in the S&P 500.2
Mudita Advisors LLPS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| HGVHilton Grand Vacations Inc | $147.1M | 30.6% | +1.1% |
| Establishment Labs Hldgs IncCUSIP G31249108 | $62.0M | 12.9% | −5.4% |
| MGMMgm Resorts International | $45.2M | 9.4% | |
| IAGIamgold Corp | $37.6M | 7.8% | |
| DARDarling Ingredients Inc | $23.2M | 4.8% | |
| CNQCanadian Nat Res Ltd Med Ter | $21.0M | 4.4% | |
| APPNAppian Corp | $19.2M | 4.0% | |
| TGBTrekor Metals Ltd | $14.1M | 2.9% | New |
| HCCWarrior Met Coal Inc | $14.1M | 2.9% | |
| AGIAlamos Gold Inc | $13.6M | 2.8% | |
| CNRCore Natural Resources Inc | $13.6M | 2.8% | +17.3% |
| Flutter Entmt PLCCUSIP G3643J108 | $12.5M | 2.6% | +4.3% |
| BSMBlack Stone Minerals L P | $10.6M | 2.2% | |
| Orla Mng Ltd NewCUSIP 68634K106 | $7.7M | 1.6% | −40.0% |
| HBMHudbay Minerals Inc | $7.5M | 1.6% | |
| SPGIS&p Global Inc | $5.7M | 1.2% | |
| VBNKVersabank New | $4.7M | 1.0% | |
| NCNacco Inds Inc | $4.6M | 1.0% | |
| MXCTMaxcyte Inc | $4.1M | 0.9% | |
| KGCKinross Gold Corp | $4.1M | 0.9% | |
| ASIXAdvansix Inc | $3.4M | 0.7% | +105.9% |
| Osisko Development CorpCUSIP 68828E809 | $2.7M | 0.6% | |
| AAUCAllied Gold Corp | $2.0M | 0.4% | −46.8% |
| BBarrick Mng Corp | $411K | 0.1% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| HBMHudbay Minerals Inc | June 30, 2023 | +391.9% | $7.5M |
| IAGIamgold Corp | June 30, 2024 | +322.4% | $37.6M |
| AGIAlamos Gold Inc | December 31, 2021 | +294.5% | $13.6M |
| KGCKinross Gold Corp | December 31, 2024 | +154.8% | $4.1M |
| HCCWarrior Met Coal Inc | March 31, 2023 | +121.1% | $14.1M |
| CNQCanadian Nat Res Ltd Med Ter | December 31, 2021 | +87.0% | $21.0M |
| AAUCAllied Gold Corp | June 30, 2025 | +76.9% | $2.0M |
| VBNKVersabank New | December 31, 2025 | +54.9% | $4.7M |
| NCNacco Inds Inc | March 31, 2025 | +48.4% | $4.6M |
| DARDarling Ingredients Inc | June 30, 2025 | +44.0% | $23.2M |
Sold off last quarter
- EXEExpand Energy Corporation was $13.6M
- Taseko Mines LtdCUSIP 876511106 was $13.2M
- Bunge Global SaCUSIP H11356104 was $9.8M
- SSLSasol Ltd was $7.9M
- ZMZoom Communications Inc was $6.3M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +5.6% | +14.8% |
| March 31, 2026 | +1.2% | −4.6% |
| December 31, 2025 | +20.4% | +2.4% |
| September 30, 2025 | +14.3% | +7.8% |
| June 30, 2025 | +6.6% | +10.5% |
| March 31, 2025 | −1.1% | −4.6% |
| December 31, 2024 | +0.3% | +2.1% |
| September 30, 2024 | +2.7% | +5.4% |
| June 30, 2024 | −4.7% | +4.0% |
| March 31, 2024 | +8.9% | +10.0% |
| December 31, 2023 | +6.3% | +11.2% |
| September 30, 2023 | −0.6% | −3.6% |
| June 30, 2023 | +1.5% | +8.3% |
| March 31, 2023 | +3.3% | +7.0% |
| December 31, 2022 | +13.7% | +7.1% |
| September 30, 2022 | −4.5% | −5.3% |
| June 30, 2022 | −15.0% | −16.5% |
| March 31, 2022 | +12.2% | −4.9% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Mudita Advisors LLP Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1907809&type=13F-HR&dateb=&owner=include&count=40CIK 1907809
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1907809/000117266126003403/Filed August 13, 2026 · accession 0001172661-26-003403