Managers / Q4 2022 · 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 $267M in U.S.-listed holdings across 13 positions for Q4 2022.
The portfolio is heavily concentrated: GSATUSD alone accounts for 43.2% of reported value.
Compared with Q3 2022, the fund opened 2 new positions and exited 2.
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, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. 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 · 52.7% · $141M
- US DOMESTIC · 45.5% · $122M
- Other · 1.7% · $5M
- Equity WRT · 0.1% · $178,918
Quarter-over-Quarter Changes full breakdown →
vs Q3 2022 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| 2U INC | NEW | +10.93M | 10.93M | +$7M | $7M |
| GETRGETAROUND INC COM | NEW | +266.2K | 266.2K | +$173,667 | $173,667 |
| AURORA CANNABIS INC NOTE | SOLD OUT | −76.09M | 0 | −$70M | $0 |
| THRYTHRYV HLDGS INC | SOLD OUT | −1.84M | 0 | −$42M | $0 |
| KORE GROUP HOLDINGS INC | TRIMMED | −1.84M | 2.12M | −$5M | $3M |
| CZRCAESARS ENTERTAINMENT INC | TRIMMED | −33.0K | 42.0K | −$672,800 | $2M |
| FUBOTV INC | ADDED | +32.82M | 131.10M | +$13M | $60M |
| HYCROFT MINING HOLDING CORP COM CL A | TRIMMED | −6.47M | 17.92M | −$5M | $10M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2022
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | GSATUSDGLOBALSTAR INC COMhistory → | COM | 43.24% | $115M | 86.84M |
| 2 | FUBOTV INC | CNV NOTE 3.250% 2/1 | 22.58% | $60M | 131.10M |
| 3 | VROOM INC | CNV NOTE 0.75% 7/0 | 20.31% | $54M | 152.76M |
| 4 | SHCRUSDSHARECARE INChistory → | COM | 3.74% | $10M | 6.25M |
| 5 | HYCROFT MINING HOLDING CORP COM CL A | COM | 3.57% | $10M | 17.92M |
| 6 | 2U INC | CNV NOTE 2.25% 5/0 | 2.65% | $7M | 10.93M |
| 7 | ALLYALLY FINANCIAL INChistory → | COM | 1.37% | $4M | 150.0K |
| 8 | KORE GROUP HOLDINGS INC | COM | 1.00% | $3M | 2.12M |
| 9 | CZRCAESARS ENTERTAINMENT INC | COM | 0.65% | $2M | 42.0K |
| 10 | VERTICAL AEROSPACE LTD -CW26 | W EXP 09/15/202 | 0.47% | $1M | 4.00M |
| 11 | HYCROFT MINING HOLDING CORP W EXP 05/29/202 | W EXP 05/29/202 | 0.27% | $728,460 | 9.75M |
| 12 | HYMCLHYCROFT MINING HOLDING CORP W EXP 10/06/202 | W EXP 10/06/202 | 0.07% | $178,918 | 2.95M |
| 13 | GETRGETAROUND INC COM | COM | 0.07% | $173,667 | 266.2K |
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 ↗.