Mudita reports 2.5M shares (12.5%) in Metals Acquisition

Metals Acquisition Corp. II reports beneficial ownership of 2,500,000 Class A ordinary shares, representing 12.5% of the class.

Rhea-AI Filing Summary

Metals Acquisition Corp. II reports beneficial ownership of 2,500,000 Class A ordinary shares, representing 12.5% of the class. The filing states these shares are held across four investment funds managed by Mudita Advisors LLP, with per‑fund holdings of 1,610,275; 249,850; 506,450; and 133,425 shares. The filing discloses shared voting and dispositive power over the 2,500,000 shares and notes that each fund has the right to receive dividends and sale proceeds.

Insights

Institutional Ownership Analyst

Large passive stake recorded by Mudita Advisors LLP across four managed funds.

The filing lists beneficial ownership of 2,500,000 shares (12.5%) held by four funds advised by Mudita Advisors LLP, with shared voting and dispositive power. The largest fund, Mudita Original Partnership LP, holds 1,610,275 shares (7.00%).

Because the filing is a Schedule 13G disclosure of passive holdings and shows shared (not sole) control, its direct governance impact is limited; subsequent amendments or shifts to an active Schedule 13D would be the material trigger to reassess influence.

Corporate Governance Specialist

Shared control and fund-level rights are emphasized; no sole control reported.

The filing specifies no sole voting or dispositive power and records shared voting and disposition for the 2,500,000 shares. It also states each fund may receive dividends or sale proceeds.

Watch for any future filings that change the power descriptors (e.g., sole power or Schedule 13D filing), which would indicate an active intent to influence corporate actions.

Key Figures

Beneficial ownership: 2,500,000 shares Percent of class: 12.5% Largest fund holding: 1,610,275 shares +1 more

4 metrics

Beneficial ownership 2,500,000 shares Total reported beneficially owned by Mudita-managed funds

Percent of class 12.5% Percent of Class A ordinary shares represented by the 2,500,000 shares

Largest fund holding 1,610,275 shares Mudita Original Partnership LP holding as reported

Other fund holdings 506,450; 249,850; 133,425 shares Holdings for Cassini Partners LP - Aristillus; Mudita Eudoxus LP; 238 Plan Associates

Key Terms

Schedule 13G, beneficial ownership, shared dispositive power, shared voting power

4 terms

Schedule 13G regulatory

"reports beneficial ownership of 2,500,000 Class A ordinary shares"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

beneficial ownership financial

"Amount beneficially owned: Mudita Advisors LLP on behalf of managed accounts 2,500,000"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

shared dispositive power regulatory

"Shared Dispositive Power 2,500,000.00"

shared voting power regulatory

"Shared Voting Power 2,500,000.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

FAQ

What stake does Mudita Advisors report in Metals Acquisition Corp. II (MTAL)?

Answer: Mudita Advisors reports beneficial ownership of 2,500,000 shares, equal to 12.5% of Class A ordinary shares. This stake is held across four funds managed by Mudita Advisors LLP with shared voting and dispositive power.

Which funds hold the 2,500,000 shares reported by Mudita Advisors?

Answer: The filing lists four funds: Mudita Original Partnership LP (1,610,275 shares), Mudita Eudoxus LP (249,850), Cassini Partners LP - Aristillus (506,450), and 238 Plan Associates (133,425).

Does Mudita Advisors have sole voting control over MTAL shares?

Answer: No. The filing states 0 shares with sole voting power and records shared voting power and shared dispositive power for the 2,500,000 shares across the managed funds.

Are dividends and sale proceeds payable to another party for the reported shares?

Answer: The filing states each of the four funds for which Mudita Advisors serves as adviser has the right to receive or direct receipt of dividends and proceeds from sale of the securities held for its account.

Does this Schedule 13G filing indicate an intent to influence Metals Acquisition Corp. II?

Answer: The filing reports passive beneficial ownership under Schedule 13G with shared powers; it does not state an intent to influence or control, and no Schedule 13D or sole‑control assertion is disclosed in this excerpt.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/07/2026 - 01:05 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Metals Acquisition Corp. II

(Name of Issuer)

Class A ordinary shares, par value $0.0001 per share

(Title of Class of Securities)

G60420125

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): G60420125

1

Names of Reporting Persons

Mudita Advisors LLP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,500,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,500,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,500,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.9 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Metals Acquisition Corp. II
(b)	Address of issuer's principal executive offices: C/O MAPLES CORPORATE SERVICES LTD., P.O. BOX 309 UGLAND HOUSE, GRAND CAYMAN, CAYMAN ISLANDS, KY1-1104.
Item 2.
(a)	Name of person filing: Mudita Advisors LLP on behalf of: Mudita Original Partnership LP Mudita Eudoxus LP Cassini Partners LP - Aristillus 238 Plan Associates
(b)	Address or principal business office or, if none, residence: 8 St James's Square London SW1Y 4JU UK
(c)	Citizenship: United Kingdom
(d)	Title of class of securities: Class A ordinary shares, par value $0.0001 per share
(e)	CUSIP Number(s): G60420125
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Mudita Advisors LLP on behalf of managed accounts 2,500,000 Mudita Original Partnership LP (1,610,275) Mudita Eudoxus LP (249,850) Cassini Partners LP - Aristillus (506,450) 238 Plan Associates (133,425)
(b)	Percent of class: Mudita Advisors LLP on behalf of managed accounts 12.5% Mudita Original Partnership LP 7.00% Mudita Eudoxus LP 1.09% Cassini Partners LP - Aristillus 2.20% 238 Plan Associates 0.58%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: Mudita Advisors LLP on behalf of managed accounts 2,500,000 Mudita Original Partnership LP (1,610,275) Mudita Eudoxus LP (249,850) Cassini Partners LP - Aristillus (506,450) 238 Plan Associates (133,425)
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: Mudita Advisors LLP on behalf of managed accounts 2,500,000 Mudita Original Partnership LP (1,610,275) Mudita Eudoxus LP (249,850) Cassini Partners LP - Aristillus (506,450) 238 Plan Associates (133,425)
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The securities reported herein are held by four investment funds for which Mudita Advisors LLP serves as investment adviser. Each fund has the right to receive or direct the receipt of dividends and proceeds from the sale of the securities held for its account.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Mudita Advisors LLP

Signature:	Kevin Mandy
Name/Title:	CFO
Date:	04/07/2026