WhaleCreep

Rubric Capital Management LP 13F holdings, Q1 2017

Hedge fundSEC filingsCompare with another fundHoldings as of 2017-03-31, filed 2017-04-28

Rubric Capital Management LP disclosed 31 US equity positions worth $324.0m in its Q1 2017 13F filing. Its largest position is XPER at 7.9% of the reported book, followed by HRTX and KRAUSD. Versus Q4 2016 it opened 14 new positions, added to 13, reduced 2 and exited 14.

$324m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
31
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
7.9%
Largest position
The largest single position as a share of the reported equity book.
55.7%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
23
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
39
Quarters on file since Q4 2016
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q4 2016: 14 new, 13 added, 2 reduced, 14 exited

31 rows
XPER XPERI CORPTechnology7.9%$25.5m750,000–new
HRTX HERON THERAPEUTICS INCHealthcare7.4%$24.0m1.60m+191%added
KRAUSD KRATON CORPORATION–5.5%$17.8m575,000+188%added
GMS1EUR GMS INC–5.4%$17.5m500,000+102%added
NATIONSTAR MTG HLDGS INC no ticker–5.4%$17.5m1.11m+14%added
BAK BRASKEM SABasic Materials5.3%$17.2m846,824+1311%added
CNDT CONDUENT INCTechnology5.2%$16.8m1.00m+174%added
MX MAGNACHIP SEMICONDUCTOR CORPTechnology5.0%$16.2m1.70m+6.3%added
IRWD IRONWOOD PHARMACEUTICALS INCHealthcare4.5%$14.5m850,000−33%reduced
GPK GRAPHIC PACKAGING HLDG COConsumer Cyclical4.1%$13.4m1.04m–new
BYD BOYD GAMING CORPConsumer Cyclical3.8%$12.4m562,000–new
HRI HERC HLDGS INCIndustrials3.5%$11.4m232,840–new
MDCA MDC PARTNERS INC–3.2%$10.5m1.11m+219%added
PARR PAR PACIFIC HOLDINGS INCEnergy3.2%$10.4m630,000+40%added
SNCREUR SYNCHRONOSS TECHNOLOGIES INC–3.0%$9.8m400,000–new
RICEEUR RICE ENERGY INC–2.9%$9.5m401,000–new
PRTY1EUR PARTY CITY HOLDCO INC–2.9%$9.3m665,000–new
XOGEUR EXTRACTION OIL AND GAS INC–2.6%$8.4m455,000–new
FRTAEUR FORTERRA INC–2.4%$7.9m405,484+103%added
MITL1 MITEL NETWORKS CORP–2.4%$7.9m1.14m+112%added
DELL DELL TECHNOLOGIES INCTechnology2.4%$7.8m121,0000.0%held
CSTM CONSTELLIUM SEBasic Materials2.1%$6.8m1.05m–new
ATRSEUR ANTARES PHARMA INC–2.1%$6.7m2.37m+104%added
GOLGBP GOL LINHAS AEREAS INTELIGENT–1.6%$5.2m196,721+154%added
TERRAFORM PWR INC no ticker–1.5%$5.0m404,970–new
CSX CSX CORPIndustrials1.4%$4.7m100,000–new
ECLIPSE RES CORP no ticker–1.3%$4.3m1.70m–new
ORBOTECH LTD no ticker–0.9%$3.1m94,800–new
MPOUSD MIDSTATES PETE CO INC–0.4%$1.4m76,0900.0%held
SILVER RUN ACQUISITION no ticker–0.3%$1.0m100,000–new
OMER OMEROS CORPHealthcare0.06%$186k12,279−75%reduced

Exited since Q4 2016

14 rows
TESSERA HLDG CORP no ticker9.0%$17.7m
OLN OLIN CORP8.8%$17.3m
SIG SIGNET JEWELERS LIMITED6.8%$13.4m
VYX NCR VOYIX CORPORATION5.4%$10.7m
DK DELEK US HLDGS INC3.5%$6.9m
VMWEUR VMWARE INC3.0%$5.9m
REGIEUR RENEWABLE ENERGY GROUP INC2.5%$4.8m
FIZZ NATIONAL BEVERAGE CORP2.3%$4.6m
BCO BRINKS CO2.1%$4.1m
ALLERGAN PLC no ticker1.3%$2.6m
STC STEWART INFORMATION SVCS COR1.2%$2.3m
RESTORATION HARDWARE HLDGS I no ticker1.0%$2.0m
KWEUR KENNEDY-WILSON HOLDINGS INC0.4%$728k
RITM RITHM CAPITAL CORP0.2%$393k

Sector mix

  • Unclassified44.1%
  • Technology20.4%
  • Healthcare11.9%
  • Consumer Cyclical7.9%
  • Basic Materials7.4%
  • Industrials4.9%
  • Energy3.2%

Book over time

Every quarter on file (39)
QuarterPositionsEquity book
Q2 202686$10.9bn
Q1 202681$8.2bn
Q4 202575$8.4bn
Q3 202569$7.4bn
Q2 202563$6.2bn
Q1 202565$5.6bn
Q4 202467$5.5bn
Q3 202464$6.1bn
Q2 202467$3.8bn
Q1 202468$3.4bn
Q4 202357$2.7bn
Q3 202359$2.4bn
Q2 202361$2.3bn
Q1 202370$2.5bn
Q4 202294$2.3bn
Q3 202287$2.0bn
Q2 202297$2.0bn
Q1 202270$2.1bn
Q4 202168$2.1bn
Q3 202155$1.7bn
Q2 202156$1.6bn
Q1 202158$1.7bn
Q4 202059$1.3bn
Q3 202064$1.1bn
Q2 202051$858m
Q1 202049$612m
Q4 201944$859m
Q3 201956$890m
Q2 201952$937m
Q1 201959$1.1bn
Q4 201848$805m
Q3 201852$946m
Q2 201840$1.0bn
Q1 201851$1.1bn
Q4 201748$796m
Q3 201750$630m
Q2 201745$412m
Q1 201731$324m
Q4 201631$197m

Where Rubric Capital Management LP was early

64 rows
XPER XPERI INCQ1 20172 of 857.9%7.9%19Held at last filing, Q2 2026–
CSTM CONSTELLIUM SEQ1 201711 of 1322.1%4.6%19Exited by Q4 2024+150%
AMKR AMKOR TECHNOLOGY INCQ2 20171 of 1341.9%2.0%2Exited by Q4 2017+8.0%
ERII ENERGY RECOVERY INCQ2 20172 of 821.3%1.3%5Exited by Q3 2018−2.5%
DFIN DONNELLEY FINL SOLUTIONS INCQ2 20173 of 830.8%1.7%4Exited by Q2 2018−25%
PPC PILGRIMS PRIDE CORP NEWQ2 20173 of 1081.5%1.5%4Exited by Q3 2019+16%
RYAM RAYONIER ADVANCED MATLS INCQ2 20173 of 1072.4%5.3%6Exited by Q4 2018+17%
BLDR BUILDERS FIRSTSOURCE INCQ2 20175 of 2081.1%2.9%6Exited by Q4 2018−4.2%
HALO HALOZYME THERAPEUTICS INCQ2 20175 of 1350.9%3.3%4Exited by Q2 2018+53%
DAR DARLING INGREDIENTS INCQ2 20176 of 1690.8%2.3%3Exited by Q1 2026+129%
TSN TYSON FOODS INCQ2 201712 of 1241.9%2.8%4Exited by Q1 2020+45%
EQT EQT CORPQ2 201724 of 2311.5%1.5%4Exited by Q2 2018−19%
TTMI TTM TECHNOLOGIES INCQ3 20173 of 1431.0%3.6%5Exited by Q3 2021−7.0%
BRSL INTERNATIONAL GAME TECHNOLOGQ3 20176 of 1423.2%8.0%8Exited by Q3 2022−24%
PTEN PATTERSON UTI ENERGY INCQ3 20177 of 1432.6%2.6%2Exited by Q1 2018+9.9%
CIEN CIENA CORPQ3 201716 of 1835.3%5.3%3Exited by Q2 2018+18%
ICHR ICHOR HOLDINGSQ4 20171 of 992.0%3.8%4Exited by Q3 2019−3.9%
WSC WILLSCOT MOBIL MINI HLDNG COQ4 20171 of 1774.6%5.8%20Exited by Q1 2023+256%
AIR AAR CORPQ4 20173 of 962.2%3.5%18Exited by Q4 2024+66%
OSG AMBAC FINL GROUP INCQ4 20174 of 870.8%3.0%9Exited by Q1 2021−3.8%
SPB SPECTRUM BRANDS HLDGS INCQ4 20174 of 1470.4%5.9%2Exited by Q2 2018−2.7%
SD SANDRIDGE ENERGY INCQ1 20182 of 770.4%1.7%3Exited by Q4 2018−25%
KLIC KULICKE & SOFFA INDS INCQ1 20184 of 1031.9%4.2%2Exited by Q3 2018−4.8%
8IN SYNEOS HEALTH INCQ1 20185 of 1150.4%3.5%3Exited by Q2 2019+46%
CHRS COHERUS ONCOLOGY INCQ1 20187 of 1050.5%4.6%16Exited by Q3 2025−93%
NTRA NATERA INCQ2 20183 of 1671.1%1.1%4Exited by Q3 2019+47%
CWH CAMPING WORLD HLDGS INCQ2 20184 of 1286.7%6.7%2Exited by Q4 2018−15%
GPRE GREEN PLAINS INCQ3 20184 of 1214.1%4.2%14Exited by Q4 2022+69%
MGY MAGNOLIA OIL & GAS CORPQ3 20184 of 1021.2%1.2%3Exited by Q2 2019−20%
ECHO ECHOSTAR CORPQ3 201813 of 2091.5%2.4%3Exited by Q1 2020+15%
07WA MR COOPER GROUP INCQ4 20181 of 1515.9%5.9%27Exited by Q3 2025+1179%
HGV HILTON GRAND VACATIONS INCQ4 201817 of 1661.6%1.9%4Exited by Q4 2019+21%
TH TARGET HOSPITALITY CORPQ1 20191 of 952.2%2.4%14Held at last filing, Q2 2026+114%
WKC WORLD FUEL SVCS CORPQ1 20194 of 850.5%2.4%4Exited by Q1 2020+50%
SAIC SCIENCE APPLICATNS INTL CP NQ1 20197 of 1214.7%4.7%4Exited by Q2 2020−3.0%
ENS ENERSYSQ1 20198 of 1020.5%2.7%3Exited by Q1 2021+27%
STNG SCORPIO TANKERS INCQ1 20199 of 1390.9%5.4%6Exited by Q3 2023+138%
ZYME ZYMEWORKS INCQ1 201911 of 1070.2%2.1%16Held at last filing, Q2 2026+62%
JBLU JETBLUE AWYS CORPQ1 201913 of 1651.1%2.8%3Exited by Q4 2019+2.4%
INSW INTERNATIONAL SEAWAYS INCQ2 20195 of 1031.2%2.2%4Exited by Q2 2020+26%
CCJ CAMECO CORPQ2 20199 of 1824.8%6.0%7Exited by Q4 2023+269%
QNST QUINSTREET INCQ3 20198 of 882.9%4.2%12Exited by Q1 2023+14%
TBPH THERAVANCE BIOPHARMA INCQ4 20197 of 960.5%3.3%5Exited by Q4 2022−61%
IDCC INTERDIGITAL INCQ1 20204 of 1183.5%3.9%9Exited by Q2 2023+63%
INSM INSMED INCQ1 20208 of 1801.8%3.3%5Exited by Q3 2022+23%
PFSI PENNYMAC FINL SVCS INC NEWQ2 20206 of 1142.0%2.3%6Held at last filing, Q2 2026+108%
RXT RACKSPACE TECHNOLOGY INCQ3 20201 of 803.5%3.6%3Exited by Q2 2021+23%
MREO MEREO BIOPHARMA GROUP PLCQ4 20201 of 670.5%1.6%23Held at last filing, Q2 2026−91%
HY HYSTER YALE MATLS HANDLING IQ1 20211 of 511.1%1.1%3Exited by Q4 2021−42%
OCUL OCULAR THERAPEUTIX INCQ1 20213 of 1200.4%1.9%3Exited by Q4 2021−39%

Concentration and tenure

7.3%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
44.3%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
2
Median completed holding, quarters