Mudrick Capital Management, L.P.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Mudrick Capital Management, L.P. reported 3 stock positions worth $464.0 million. Its top holding was Vertical Aerospace (EVTL) at 75.1% of the portfolio, followed by Vroom (VRM, 24.4%) and Luminar Technologies (LAZRQ, 0.5%). Compared with Q1 2025, it opened 1 new position and added to 1. The biggest buy was a new position in Luminar Technologies (LAZRQ).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001655183
Portfolio Value
$464.0M (Q2 2025)
SEC Filing
0001814554-25-000080 ↗ filed Aug 14, 2025

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $51.7M Q1 2024 Q2 2024: $36.4M Q2 2024 Q3 2024: $38.5M Q3 2024 Q4 2024: $595.6M Q4 2024 Q1 2025: $289.3M Q1 2025 Q2 2025: $464.0M $464.0M Q2 2025 Q3 2025: $389.0M Q3 2025 Q4 2025: $370.2M Q4 2025 Q1 2026: $174.4M Q1 2026 Q2 2026: $447.9M Q2 2026

Holdings 3 stocks · $464.0M
EVTL Vertical Aerospace Ltd. 75.15% 51,509,585 $348.7M No change
VRM Vroom Inc. 24.37% 3,967,251 $113.1M Add +0.4%
LAZRQ Luminar Technologies Inc. 0.48% 769,092 $2.2M New
Other holdings (1): bonds, preferreds, convertibles and warrants · $8.5M (not counted above)
SecurityClassShares / PrincipalValueChange
LUMINAR TECHNOLOGIES INC (LAZR 11.5 01/15/30) DEBT 11.500% 1/1 · principal 18,500,000$8.5MNew

Total filed on the 13F, all lines: $472.6M.

Portfolio Sells Q1 2025 → Q2 2025
None this quarter.

Portfolio Buys Q1 2025 → Q2 2025
LAZRQ Luminar Technologies Inc. New 0.48% +0.48
VRM Vroom Inc. Add +0.4% 24.37% −15.79

Notes & Other Activity Q1 2025 → Q2 2025
LUMINAR TECHNOLOGIES INC (LAZR 11.5 01/15/30) DEBT 11.500% 1/1 · principal New 18,500,000 $8.5M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 4$447.9MDPC, EVTL, VRM, FUBO
Q1 2026 3$174.4MEVTL, VRM, FUBO
Q4 2025 2$370.2MEVTL, VRM
Q3 2025 3$389.0MEVTL, VRM, LAZRQ
Q2 2025 3$464.0MEVTL, VRM, LAZRQ
Q1 2025 2$289.3MEVTL, VRM
Q4 2024 1$595.6MEVTL
Q3 2024 1$38.5MGSAT
Q2 2024 2$36.4MGSAT, GETR
Q1 2024 4$51.7MGSAT, SHCR, TALO, GETR