Mudrick Capital Management, L.P.
Mudrick Capital Management, L.P. is an institutional investment firm headquartered in New York, founded in 2009 by Jason Mudrick. The firm specializes in event-driven and special situation investing in global credit markets, targeting stressed and distressed credit opportunities. Serving a diverse global base of sophisticated institutional investors, Mudrick currently manages approximately $3.3 billion as of September 2025, with about 31-34 employees. The firm also maintains an office in London.
Investment Strategy
Mudrick Capital Management pursues an event-driven and special situation investment strategy, focusing on opportunities across the corporate capital structure and throughout the distressed cycle. The firm targets stressed and distressed credit markets, employing deep value analysis and investing in securities of companies undergoing significant change, restructuring, or facing financial challenges. Their approach seeks to capture value from corporate events, bankruptcies, restructurings, and other situations where fundamental value may be misunderstood or mispriced. Mudrick’s investments often span debt, equity, and hybrid instruments, seeking asymmetric risk/reward profiles through rigorous fundamental research and active engagement with portfolio companies.
Top Holdings
Equity Positions (3)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) | 
|---|---|---|---|---|---|---|---|
| EEVTL | VERTICAL AEROSPACE LTD | 73.79% | $348.7M | 51,509,585 | $11.83 | $6.77 | +$175.6M | 
| VVRM | VROOM INC | 23.94% | $113.1M | 3,967,251 | $6.09 | $28.51 | -$3.1M | 
| LLAZR | LUMINAR TECHNOLOGIES INC | 0.47% | $2.2M | 769,092 | $2.87 | $2.87 | +$2.2M |