SEC 13F Intelligence

Managers / Q1 2023 · view latest →

Mudrick Capital Management, L.P.

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

Reported Value
$270M
Q1 2023
Positions
13
Filings on Record
30
2019–present window
Filed
May 15, 2023
original filing

Summary

Mudrick Capital Management, L.P. reported $270M in U.S.-listed holdings across 13 positions for Q1 2023.

The portfolio is heavily concentrated: GSATUSD alone accounts for 33.4% of reported value.

Compared with Q4 2022, the fund opened 1 new position and exited 2.

Portfolio Metrics

Turnover
+18.2%
vs prior filed quarter
Top-10 Concentration
+83.5%
share of reported value
Largest Position
+33.4%
Globalstar Inc Com
New / Exited
1 / 2
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: 53.4%US DOMESTIC: 45.8%Other: 0.8%Equity WRT: 0.0%
  • Common Stock · 53.4% · $144M
  • US DOMESTIC · 45.8% · $124M
  • Other · 0.8% · $2M
  • Equity WRT · 0.0% · $103,053

Quarter-over-Quarter Changes full breakdown →

vs Q4 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SCHWCHARLES SCHWAB CORPNEW+850.0K850.0K+$45M$45M
ALLYALLY FINANCIAL INCSOLD OUT−150.0K0−$4M$0
CZRCAESARS ENTERTAINMENT INCSOLD OUT−42.0K0−$2M$0
HYCROFT MINING HOLDING CORP COM CL ATRIMMED−16.89M1.03M−$9M$446,179
HYCROFT MINING HOLDING CORP W EXP 05/29/202TRIMMED−6.18M3.58M−$599,760$128,700
KORE GROUP HOLDINGS INCTRIMMED−955.1K1.16M−$1M$1M
HYMCLHYCROFT MINING HOLDING CORP W EXP 10/06/202TRIMMED−376.1K2.58M−$75,865$103,053
2U INC NOTE 2.25 percent 5/0ADDED+1.28M12.21M+$2M$10M

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

Holdings — Q1 2023

11 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1GSATUSDGLOBALSTAR INC COMhistory →COM33.39%$90M77.70M
2VROOM INC NOTE 0.75 precent 7/0CNV21.79%$59M153.76M
3FUBOTV INC NOTE 3.250 percent 2/1CNV20.43%$55M131.10M
42U INC NOTE 2.25 percent 5/0CNV3.54%$10M12.21M
5SHCRUSDSHARECARE INChistory →COM3.29%$9M6.25M
6KORE GROUP HOLDINGS INCCOM0.53%$1M1.16M
7VERTICAL AEROSPACE LTD -CW26W EXP 09/15/2020.26%$700,8004.00M
8HYCROFT MINING HOLDING CORP COM CL ACOM0.17%$446,1791.03M
9HYCROFT MINING HOLDING CORP W EXP 05/29/202W EXP 05/29/2020.05%$128,7003.58M
10HYMCLHYCROFT MINING HOLDING CORP W EXP 10/06/202W EXP 10/06/2020.04%$103,0532.58M
11GETRGETAROUND INC COMCOM0.03%$75,854266.2K

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 ↗.