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Mudita Advisors Portfolio holdings

AUM $490M
1-Year Est. Return 66.64%
This Fund
S&P 500
This Quarter Est. Return
+15.7%
1 Year Est. Return
+66.64%
3 Year Est. Return
+115.62%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$346M
AUM Growth
+$47.7M
Cap. Flow
+$15.4M
Cap. Flow %
4.44%
Top 10 Hldgs %
84.29%
Holding
20
New
1
Increased
8
Reduced
4
Closed
1

Top Buys

Rank Stock Value
1
ORLA
Orla Mining
ORLA
+$15M
2
MGM icon
MGM Resorts International
MGM
+$11.9M
3
HGV icon
Hilton Grand Vacations
HGV
+$8.71M
4
TGB
Trekor Metals
TGB
+$4.08M
5
ESTA icon
Establishment Labs
ESTA
+$3.52M

Top Sells

Rank Stock Value
1
EGO icon
Eldorado Gold
EGO
+$13.4M
2
KGC icon
Kinross Gold
KGC
+$6.2M
3
AGI icon
Alamos Gold
AGI
+$5.45M
4
HBM icon
Hudbay
HBM
+$4.95M
5
IAG icon
IAMGOLD
IAG
+$5.25K

Sector Composition

Rank Sector Weight
1 Materials 38.53%
2 Consumer Discretionary 37.35%
3 Energy 13.44%
4 Healthcare 9.68%
5 Consumer Staples 1%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HGV icon
1
Hilton Grand Vacations
HGV
$3.84B
$97.5M 28.21%
2,333,146
+189,286
+9% +$8.71M
HCC icon
2
Warrior Met Coal
HCC
$4.23B
$35.8M 10.36%
562,665
+4,100
+0.7% +$234K
IAG icon
3
IAMGOLD
IAG
$8.47B
$34.7M 10.02%
2,681,000
-600
-0% -$5.25K
ESTA icon
4
Establishment Labs
ESTA
$2.72B
$28.2M 8.14%
686,764
+86,100
+14% +$3.52M
MGM icon
5
MGM Resorts International
MGM
$11.7B
$21.8M 6.3%
628,338
+324,500
+107% +$11.9M
CNQ icon
6
Canadian Natural Resources
CNQ
$96.9B
$20.4M 5.89%
637,044
– –
ORLA
7
Orla Mining
ORLA
$3.48B
$15.1M 4.37%
+1,400,000
New +$15M
HBM icon
8
Hudbay
HBM
$9.92B
$14M 4.05%
924,505
-432,600
-32% -$4.95M
EXE
9
Expand Energy Corp
EXE
$21.9B
$12.2M 3.54%
115,100
+4,800
+4% +$482K
TGB
10
Trekor Metals
TGB
$2.56B
$11.8M 3.41%
2,788,401
+1,198,700
+75% +$4.08M
AGI icon
11
Alamos Gold
AGI
$12.4B
$10M 2.89%
287,104
-190,700
-40% -$5.45M
BSM icon
12
Black Stone Minerals
BSM
$3.11B
$10M 2.89%
760,877
– –
FLUT icon
13
Flutter Entertainment
FLUT
$17.6B
$9.83M 2.84%
38,536
+1,727
+5% +$505K
MXCT icon
14
MaxCyte
MXCT
$116M
$5.33M 1.54%
3,370,689
– –
AAUC
15
Allied Gold Corp
AAUC
$2.64B
$5.25M 1.52%
300,234
+66,900
+29% +$940K
KGC icon
16
Kinross Gold
KGC
$28.5B
$4.33M 1.25%
174,335
-322,465
-65% -$6.2M
NC icon
17
NACCO Industries
NC
$353M
$3.9M 1.13%
92,520
– –
DAR icon
18
Darling Ingredients
DAR
$9.93B
$3.45M 1%
111,800
– –
MTAL
19
DELISTED
Metals Acquisition
MTAL
$2.24M 0.65%
183,668
– –
EGO icon
20
Eldorado Gold
EGO
$8.31B
– –
-658,500
Closed -$13.4M

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IP
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LBW
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NYLIC
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RF
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GCM
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CWM
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ACA
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KCM
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Mudita Advisors's Q3 2025 Portfolio in Review

As of Q3 2025, Mudita Advisors held 20 positions worth $346M, up 16% from $298M the previous quarter. Its ten largest holdings account for 84% of the portfolio.

Mudita Advisors deployed $15.4M of net new capital in Q3 2025, opening 1 new position and adding to 8 existing holdings. Its largest new stake was Orla Mining: 1,400,000 shares worth $15.1M.

By sector, the portfolio is most concentrated in Materials at 39% of assets, up from 35% a quarter earlier, followed by Consumer Discretionary and Energy.

On the sell side, the largest reduction was Kinross Gold, an estimated $6.2M trimmed.

  • Mudita Advisors's largest Q3 2025 buy was Orla Mining: 1,400,000 shares worth $15.1M.
  • Mudita Advisors added most to MGM Resorts International in Q3 2025, an estimated $11.9M increase.
  • Mudita Advisors's biggest Q3 2025 reduction was Kinross Gold, cutting an estimated $6.2M.
  • Mudita Advisors fully exited Eldorado Gold in Q3 2025, selling an estimated $13.4M.
  • Mudita Advisors's ten largest holdings make up 84% of its $346M portfolio in Q3 2025.
  • Mudita Advisors opened 1 new position and closed 1 in Q3 2025.
  • Mudita Advisors's portfolio value rose 16% quarter-over-quarter to $346M.

Based on Mudita Advisors's 13F filing for Q3 2025, filed 13 Nov 2025.