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Livermore
Livermore
ZHEN

Mudita Advisors LLP

SEC CIK
0001907809
Latest filing
Aug 13, 2026

The latest 13F from Mudita Advisors LLP covers Q2 2026 (filed Aug 13, 2026): 24 long positions worth $481.0M. The top 10 holdings make up 82.6% of the portfolio, and the largest is Hilton Grand Vacations Inc. (HGV) at 30.6%. Livermore has 19 filings on Form 13F from this institution, going back to Q4 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
0
Added
4
Est. +$5.83M
Reduced
3
Est. −$10.5M
Sold out
4
Est. −$37.6M

Top 5 holdings

Share of this quarter's portfolio value

  1. HGVHilton Grand Vacations Inc.
    30.6%$147.1MHistory
  2. ESTAEstablishment Labs Holdings Inc.
    12.9%$62.0MHistory
  3. MGMMGM Resorts International
    9.4%$45.2MHistory
  4. IAGIamgold Corp
    7.8%$37.6MHistory
  5. DARDarling Ingredients Inc.
    4.8%$23.2MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. CNRCore Natural Resources, Inc.
    +$2.00MAddedHistory
  2. ASIXAdvanSix Inc.
    +$1.74MAddedHistory
  3. HGVHilton Grand Vacations Inc.
    +$1.57MAddedHistory
  4. FLUTFlutter Entertainment plc
    +$510.4KAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. HGVHilton Grand Vacations Inc.
    +8.40 pp22.2% → 30.6%History
  2. ASIXAdvanSix Inc.
    +0.29 pp0.4% → 0.7%History
  3. FLUTFlutter Entertainment plc
    +0.15 pp2.4% → 2.6%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. EXEExpand Energy Corp
    −$13.6MSold outHistory
  2. BGBunge Global SA
    −$9.82MSold outHistory
  3. SSLSasol Ltd
    −$7.87MSold outHistory
  4. ZMZoom Communications, Inc.
    −$6.33MSold outHistory
  5. Orla MNG Ltd New68634K106
    −$5.16MReduced

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. EXEExpand Energy Corp
    −2.77 pp2.8% → 0.0%History
  2. Orla MNG Ltd New68634K106
    −2.73 pp4.3% → 1.6%
  3. BGBunge Global SA
    −2.00 pp2.0% → 0.0%History
  4. SSLSasol Ltd
    −1.61 pp1.6% → 0.0%History
  5. ZMZoom Communications, Inc.
    −1.29 pp1.3% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$481.0M
−$9.02M (−1.8%) vs. prior quarter
Positions
24
−4 vs. prior quarter
Top 10 concentration
82.6%
Top 10 as share of value
Turnover
1.2%
Q2 2026, one quarter
Average holding period
12.9 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q4 2021), so positions held before then are understated.

13F filings by quarter

19 quarters, going back to Q4 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $490.1M (Q1 2026)

Q4 2021: $110.9MQ1 2022: $149.5MQ2 2022: $124.3MQ3 2022: $107.7MQ4 2022: $114.6MQ1 2023: $111.7MQ2 2023: $130.7MQ3 2023: $137.0MQ4 2023: $144.1MQ1 2024: $167.9MQ2 2024: $195.3MQ3 2024: $182.7MQ4 2024: $178.1MQ1 2025: $197.9MQ2 2025: $298.1MQ3 2025: $345.8MQ4 2025: $462.7MQ1 2026: $490.1MQ2 2026: $481.0M
Q4 2021Q2 2026
13F filings of Mudita Advisors LLP by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 13, 202624$481.0MHGVESTAMGMvs. Q1 2026SEC
Q1 2026May 14, 202628$490.1MHGVIAGESTAvs. Q4 2025SEC
Q4 2025Feb 13, 202621$462.7MHGVESTAHCCvs. Q3 2025SEC
Q3 2025Nov 13, 202519$345.8MHGVHCCIAGvs. Q2 2025SEC
Q2 2025Aug 14, 202519$298.1MHGVESTAHCCvs. Q1 2025SEC
Q1 2025May 19, 202517$197.9MHGVHCCCNQvs. Q4 2024SEC
Q4 2024Feb 14, 202518$178.1MHGVHCCESTAvs. Q3 2024SEC
Q3 2024Nov 13, 202417$182.7MHGVHCCAPOvs. Q2 2024SEC
Q2 2024Aug 13, 202418$195.3MHGVAPOHCCvs. Q1 2024SEC
Q1 2024May 14, 202416$167.9MHGVAPOCNQvs. Q4 2023SEC
Q4 2023Feb 13, 202416$144.1MHGVCNQAPOvs. Q3 2023SEC
Q3 2023Nov 14, 202317$137.0MCNQHGVAPOvs. Q2 2023SEC
Q2 2023Aug 14, 202317$130.7MHGVCNQAPOvs. Q1 2023SEC
Q1 2023May 15, 202316$111.7MHGVCNQBSMvs. Q4 2022SEC
Q4 2022Feb 14, 202318$114.6MBSMCNQHGVvs. Q3 2022SEC
Q3 2022Nov 14, 202220$107.7MBSMCNQHGVvs. Q2 2022SEC
Q2 2022Aug 15, 202218$124.3MBSMCNQHGVvs. Q1 2022SEC
Q1 2022May 13, 202218$149.5MBSMCNQHGVvs. Q4 2021SEC
Q4 2021Feb 14, 202221$110.9MCNQAMNHGV–SEC

13D and 13G filings

Companies where Mudita Advisors LLP reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

2 companies, largest stake first.

Companies where Mudita Advisors LLP owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
MTALMetals Acquisition Corp. II13G10.87%833.3K sharesNewMay 5, 20261 filingMay 5, 2026SEC
MTALMetals Acquisition Corp. II13G8.15%2.50M sharesNewMay 5, 20261 filingMay 5, 2026SEC

Latest filings

4 filings on file made by Mudita Advisors LLP or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by Mudita Advisors LLP
CompanyFiled (ET)FormStakeChangeEvent dateFiling
MTALMetals Acquisition Corp. IIMay 5, 20261:07 PM ET13G/A0.00%0 shares−10.90 ppfrom 10.90%Below 5%Apr 23, 2026SEC
MTALMetals Acquisition Corp. IIMay 5, 20261:07 PM ET13G10.87%833.3K sharesNewApr 23, 2026SEC
MTALMetals Acquisition Corp. IIMay 5, 20261:05 PM ET13G8.15%2.50M sharesNewApr 23, 2026SEC
MTALMetals Acquisition Corp. IIApr 7, 20261:05 PM ET13G10.90%2.50M sharesNewMar 31, 2026SEC