SEC 13F Intelligence

Managers / Q3 2021 · view latest →

Mudrick Capital Management, L.P.

CIK 0001655183 · 31 WEST 52ND STREET, 16TH FLOOR, NEW YORK, NY, 10019 · (646) 747 9500

Reported Value
$671M
Q3 2021
Positions
11
Filings on Record
30
2019–present window
Filed
Nov 12, 2021
original filing

Summary

Mudrick Capital Management, L.P. reported $671M in U.S.-listed holdings across 11 positions for Q3 2021.

The portfolio is heavily concentrated: THRY alone accounts for 43.9% of reported value.

Compared with Q2 2021, the fund opened 2 new positions and exited 4.

Portfolio Metrics

Turnover
+6.7%
vs prior filed quarter
Top-10 Concentration
+99.8%
share of reported value
Largest Position
+43.9%
Thryv
New / Exited
2 / 4
positions this quarter

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

13F Reported Value
Q4 ’18: $173MQ4 ’18Q1 ’19: $61MQ2 ’19: $55MQ3 ’19: $55MQ4 ’19: $71MQ4 ’19Q1 ’20: $82MQ2 ’20: $296MQ3 ’20: $386MQ4 ’20: $730MQ4 ’20Q1 ’21: $882MQ2 ’21: $911MQ3 ’21: $671MQ4 ’21: $728MQ4 ’21Q1 ’22: $689MQ2 ’22: $399MQ3 ’22: $381MQ4 ’22: $267MQ4 ’22Q1 ’23: $270MQ2 ’23: $257MQ3 ’23: $340MQ4 ’23: $446MQ4 ’23Q1 ’24: $248MQ2 ’24: $247MQ3 ’24: $161MQ4 ’24: $596MQ4 ’24Q1 ’25: $289MQ2 ’25: $473MQ3 ’25: $396MQ4 ’25: $370MQ4 ’25Q1 ’26: $174Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 77.3%GLOBAL: 22.0%Other: 0.5%Equity WRT: 0.2%
  • Common Stock · 77.3% · $518M
  • GLOBAL · 22.0% · $148M
  • Other · 0.5% · $4M
  • Equity WRT · 0.2% · $1M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
FYBRFRONTIER COMMUNICATIONS PARENEW+1.26M1.26M+$35M$35M
GENERAL ELECTRIC CONEW+112.5K112.5K+$12M$12M
ICONIX BRAND GROUP INCSOLD OUT−38.63M0−$37M$0
GENERAL ELECTRIC COSOLD OUT−900.0K0−$12M$0
RHPRYMAN HOSPITALITY PPTYS INCSOLD OUT−75.0K0−$6M$0
ICONIX BRAND GROUP INCSOLD OUT−946.2K0−$3M$0
THRYTHRYV HLDGS INCTRIMMED−3.09M9.80M−$167M$294M
GSATUSDGLOBALSTAR INCTRIMMED−10.61M69.39M−$27M$116M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2021

9 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1THRYTHRYV HLDGS INChistory →COM43.88%$294M9.80M
2AURORA CANNABIS INCNOTE 5.500% 2/222.03%$148M175.92M
3GSATUSDGLOBALSTAR INChistory →COM17.28%$116M69.39M
4HYMCLHYCROFT MINING HOLDING CORPCOM · W EXP 02/12/202 · W EXP 10/06/2026.12%$41M37.73M
5FYBRFRONTIER COMMUNICATIONS PAREhistory →COM5.23%$35M1.26M
6GENERAL ELECTRIC COCOM1.73%$12M112.5K
7ADMARCHER DANIELS MIDLAND COhistory →COM1.34%$9M150.0K
8CZRCAESARS ENTERTAINMENT INC NEhistory →COM1.26%$8M75.0K
9ALLYALLY FINL INChistory →COM1.14%$8M150.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$174M3May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$370M2Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$396M4Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$473M4Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$289M2May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$596M1Feb 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$161M3Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$247M6Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$248M10May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$446M9Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$340M10Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$257M11Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$270M13May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$267M13Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$381M13Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$399M12Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$689M11May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$728M13Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$671M11Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$911M13Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$882M10May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$730M10Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$386M7Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$296M6Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$82M7May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$71M2Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$55M2Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$55M1Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$61M2May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$173M4Feb 14, 201913F-HRchanges · 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 ↗.