MXE - Mexico Equity & Income Fund
Printed from CEF Radar (cefradar.com). Source: public filings at the U.S. Securities and Exchange Commission. Last checked: Nov 2, 2026, 12:36 a.m. New York time.
A closed-end fund run by Pichardo Asset Management SA de CV. Invests in shares. Listed on the New York Stock Exchange.
Is anyone targeting this fund?
Yes - 3 large investors hold a stake, but none of them has asked for changes.
- City of London owns 27.9% as a passive investor, for now. On file since Feb 9, 2024.
- Css LLC owns 7.6% as a passive investor. On file since Aug 19, 2025.
- Matisse owns 5.4% as a passive investor, for now. On file since Nov 12, 2024.
Is the fund doing anything you need to act on?
Nothing right now.
What this means for you
City of London and Matisse specialize in closed-end funds trading below the value of their holdings - not a bank or an index fund holding shares for clients - and have told the regulator they are not seeking changes. One other large investor owns more than 5% of this fund and has said the same; that is common for banks, brokers and index funds that hold shares for their clients.
Nothing is required of you. If an investor changes its mind, it must file a new notice within days, and it will show up here.
What happened, and when
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May 15, 2026
City of London raised its stake to 27.9% (from 26%), as a passive investor.
Original document → -
Feb 13, 2026
Css LLC cut its stake to 7.6% (from 9%), as a passive investor.
Original document → -
Jan 8, 2026
City of London raised its stake to 26% (from 20.9%), as a passive investor.
Original document → -
Aug 19, 2025
Css LLC now owns 9%, as a passive investor.
Original document → -
Aug 7, 2025
City of London raised its stake to 20.9% (from 14.2%), as a passive investor.
Original document →
Show all 9 events
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Feb 7, 2025
City of London raised its stake to 14.2% (from 8.1%), as a passive investor.
Original document → -
Nov 14, 2024
City of London raised its stake to 8.1% (from 6.2%), as a passive investor.
Original document → -
Nov 12, 2024
Matisse now owns 5.4%, as a passive investor.
Original document → -
Feb 9, 2024
City of London now owns 6.2%, as a passive investor.
Original document →
About this fund
- Run by Pichardo Asset Management SA de CV. As of July 31, 2026, from the fund's yearly report. Original document →
- Size: about $71.7 million of holdings, as of July 31, 2026. As of July 31, 2026, from the fund's quarterly holdings report. Original document →
- Borrowing: the fund does not borrow. As of July 31, 2026, from the fund's quarterly holdings report. Original document →
- Costs: 0.9% a year in management fees; 1.8% a year in total, including interest on borrowed money. Fiscal year ended July 31, 2026.
As of July 31, 2026, from the fund's yearly report. Original document →
Among the 53 funds we follow that invest in shares, 16 charge a lower management fee and 35 charge less in total, at their last yearly reports. Both numbers are measured against the fund's own money, not the money it borrows on top, so a fund that borrows more shows higher costs on both counts. - Payouts: last fiscal year the fund told the regulator that all of what it paid out came from income. Most funds announce their monthly or quarterly payout on their own website, not in a filing with the regulator, so a cut or a raise there does not show up here until the next yearly report. A few funds do file a notice about a fixed payout; those appear under What happened, and when. As of July 31, 2026, from the fund's yearly report. Original document →
- Value of holdings per share at the last fiscal year end (July 31, 2026): $16.29. The shares traded at $13.09, about 19.6% below that. As of July 31, 2026, from the fund's yearly report. Original document →
- How the holdings did: up 1.7% over the last three months we have (May-July 2026), before the share price is taken into account. As of July 31, 2026, from the fund's quarterly holdings report. Original document →
- First reported to the regulator in 1994.
What a holder made
- The holdings over the last twelve months we have, to July 31, 2026: +29.9%. The quarterly reports carry no share price, so this is the holdings alone; the yearly report, once filed and read, adds what the shares returned. As of July 31, 2026, from the fund's quarterly holdings report. Original document →
- A past year says nothing about the next one. All figures are the fund's own, from its reports to the regulator.
Why the shares and the holdings can differ: the gap between price and value. Why payouts count: a payout that is your own money back.
What the fund holds
Mostly shares (98%), the rest preferred shares. About 2% issued in the U.S.
- Grupo Financiero Banorte S.A.B. de C.V. - 15.6%
- Grupo Mexico S.A.B. de C.V. - 15.3%
- Gentera S.A.B. de C.V. - 7.4%
- Grupo Aeroportuario del Pacifico SA de CV, Grupo Aerportuario Del Pacifico SAB de CV - 5.3%
- Fomento Economico Mexicano SAB de CV, Fomento Economico Mexicano de C.V. Series UBD - 4.6%
- Grupo Aeroportuario del Sureste SAB/DE/CV, Grupo Aeropotuario del Sureste - 4.3%
- BBB Foods, Inc. - 4.2%
- Industrias Penoles S.A.B. de C.V. - 4%
- Arca Continental SAB de CV, Arca Continental COM NPV - 3.9%
- Esentia Energy Development S.A.B. de C.V. - 3.6%
Show all 25
- Corporacion Inmobiliaria Vesta SAB de CV, Corp Inmobiliaria Vesta S.A.B. de C.V. - 3.2%
- GCC S.A.B. de C.V. - 3.2%
- America Movil SAB de C.V. - 2.5%
- La Comer S.A.B. de C.V. - 2.4%
- Gbm Administradora De Actv Sa De Cv, GBM Fondo de Corto Plazo S.A. de CV SIID - 2.4%
- Promotora y Operadora de Infraestructura S.A.B. de C.V. - 2.2%
- Wal-Mart de Mexico SAB de CV (Wal-Mart de Mexico SA de CV) - 2.2%
- Banco del Bajio SA - 2.2%
- Grupo Bimbo S.A.B. de C.V. - 2.1%
- Grupo Aeroportuario del Centro SAB de CV - 2.1%
- Fibra Monterrey Sapi de CV, Fibra MTY S.A.PI de CV - 2%
- Nemak S.A.B. de C.V. - 1.8%
- Cemex-Cementos Mexicanos SAB de CV, Cemex S.A.B. de C.V. - 1.2%
- HSBC Discovery Mexico - 1%
- Controladora Vuela Compania de Aviacion SAB de CV, Controladora Vuela Cia de Aviacion S.A.B. de C.V. - 0.7%
As of July 31, 2026, from the fund's quarterly holdings report. Original document →
Details: all notices, events and fund facts
| Date | Investor | Stake | Type of notice |
|---|---|---|---|
| May 15, 2026 | City of London | 27.9% | Updated notice |
| Feb 13, 2026 | Css LLC | 7.6% | Updated notice |
| Jan 8, 2026 | City of London | 26% | Updated notice |
| Aug 19, 2025 | Css LLC | 9% | Updated notice |
| Aug 7, 2025 | City of London | 20.9% | Updated notice |
| Feb 7, 2025 | City of London | 14.2% | Updated notice |
| Nov 14, 2024 | City of London | 8.1% | Updated notice |
| Nov 12, 2024 | Matisse | 5.4% | Passive investor |
| Feb 9, 2024 | City of London | 6.2% | Updated notice |
No announcements from the fund on file. Most funds announce their payout on their own website, not in a filing with the regulator, so a cut or a raise there does not show up here.
- Run by
- Pichardo Asset Management SA de CV
- Fund family
- Pichardo Asset Management SA de CV
- Exchange
- New York Stock Exchange
- Regulator's file number
- 811-06111
- Auditor
- Tait Weller and Baker LLP
- Fiscal year end
- July 31, 2026
- Number of holdings
- 27
- Preferred share classes
- none
See this fund's page at the SEC →
Email me when something new is filed for MXE
Free. One email when a large investor files a notice, or when the fund announces a buy-back, a vote or a closing - usually within a day. No password. Most funds announce payout changes on their own website, where we do not look.