Managers / Q3 2020 · view latest →
Mudrick Capital Management, L.P.
CIK 0001655183 · 31 WEST 52ND STREET, 16TH FLOOR, NEW YORK, NY, 10019 · (646) 747 9500
Summary
Mudrick Capital Management, L.P. reported $386M in U.S.-listed holdings across 7 positions for Q3 2020.
The portfolio is heavily concentrated: Hycroft Mining Holding alone accounts for 57.5% of reported value.
Compared with Q2 2020, the fund opened 1 new position and exited 0.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 86.3% · $333M
- US DOMESTIC · 9.4% · $36M
- Other · 4.4% · $17M
Quarter-over-Quarter Changes full breakdown →
vs Q2 2020 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| ICONIX BRAND GROUP INC | NEW | +538.1K | 538.1K | +$384,000 | $384,000 |
| GSATUSDGLOBALSTAR INC | HELD | −3.35M | 99.92M | −$3M | $31M |
| GOGOGOGO INC | HELD | +0 | 8.73M | +$53M | $81M |
| HYCROFT MINING HOLDING CORP | HELD | +0 | 21.98M | +$27M | $222M |
| GOGO INC | HELD | +0 | 10.14M | +$9M | $16M |
| HYCROFT MINING HOLDING CORP | HELD | +0 | 10.50M | +$4M | $16M |
| ICONIX BRAND GROUP INC | HELD | +0 | 38.63M | +$0 | $20M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2020
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | HYCROFT MINING HOLDING CORP | COM CL A · *W EXP 02/12/202 | 61.72% | $238M | 32.48M |
| 2 | GOGOGOGO INC | COM · NOTE 6.000% 5/1 | 25.14% | $97M | 18.87M |
| 3 | GSATUSDGLOBALSTAR INChistory → | COM | 7.94% | $31M | 99.92M |
| 4 | ICONIX BRAND GROUP INC | NOTE 5.750% 8/1 · COM NEW | 5.20% | $20M | 39.16M |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $174M | 3 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $370M | 2 | Feb 17, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $396M | 4 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $473M | 4 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $289M | 2 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $596M | 1 | Feb 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $161M | 3 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $247M | 6 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $248M | 10 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $446M | 9 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $340M | 10 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $257M | 11 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $270M | 13 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $267M | 13 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $381M | 13 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $399M | 12 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $689M | 11 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $728M | 13 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $671M | 11 | Nov 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $911M | 13 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $882M | 10 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $730M | 10 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $386M | 7 | Nov 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $296M | 6 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $82M | 7 | May 15, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $71M | 2 | Feb 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $55M | 2 | Nov 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $55M | 1 | Aug 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $61M | 2 | May 15, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $173M | 4 | Feb 14, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.