WhaleCreep

Rubric Capital Management LP 13F holdings, Q1 2018

Hedge fundSEC filingsCompare with another fundHoldings as of 2018-03-31, filed 2018-05-14

Rubric Capital Management LP disclosed 51 US equity positions worth $1.1bn in its Q1 2018 13F filing. Its largest position is SPB at 5.9% of the reported book, followed by KRAUSD and MCDERMOTT INTL INC. Versus Q4 2017 it opened 14 new positions, added to 19, reduced 10 and exited 11.

$1.1bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
51
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
5.9%
Largest position
The largest single position as a share of the reported equity book.
44.3%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
31
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 2017: 14 new, 19 added, 10 reduced, 11 exited

50 of 51
SPB SPECTRUM BRANDS HLDGS INCConsumer Defensive5.9%$62.6m604,000+1841%added
KRAUSD KRATON CORPORATION–4.6%$48.7m1.02m+82%added
MCDERMOTT INTL INC no ticker–4.5%$47.8m7.85m–new
GPOR GULFPORT ENERGY CORPEnergy4.5%$47.6m4.93m+1198%added
NATIONSTAR MTG HLDGS INC no ticker–4.4%$46.8m2.60m+65%added
FLEXION THERAPEUTICS INC no ticker–4.3%$45.4m2.02m+109%added
CNDT CONDUENT INCTechnology4.1%$44.2m2.37m−17%reduced
MITL1 MITEL NETWORKS CORP–4.1%$44.2m4.76m+30%added
RYAM RAYONIER ADVANCED MATLS INCBasic Materials4.0%$43.1m2.01m−2.4%reduced
HRTX HERON THERAPEUTICS INCHealthcare3.9%$41.7m1.51m−31%reduced
ICHR ICHOR HOLDINGSTechnology3.8%$40.5m1.67m+160%added
WSC WILLSCOT CORPIndustrials3.7%$39.9m4.15m0.0%held
BRSL BRIGHTSTAR LOTTERY PLCConsumer Cyclical3.5%$37.7m1.41m+49%added
OLN OLIN CORPBasic Materials3.1%$33.1m1.09m–new
CIEN CIENA CORPTechnology3.0%$32.1m1.24m−23%reduced
GMS1EUR GMS INC–3.0%$31.8m1.04m+81%added
REGIEUR RENEWABLE ENERGY GROUP INC–2.8%$29.4m2.30m+92%added
CSTM CONSTELLIUM SEBasic Materials2.6%$28.1m2.59m−22%reduced
MX MAGNACHIP SEMICONDUCTOR CORPTechnology2.1%$22.4m2.34m+3.8%added
KLIC KULICKE & SOFFA INDS INCTechnology1.9%$20.8m830,033–new
USX1 UNITED STATES STL CORP NEW–1.9%$20.1m570,000–new
HALO HALOZYME THERAPEUTICS INCHealthcare1.7%$17.9m912,963−29%reduced
TWXCHF TIME WARNER INC–1.6%$16.7m176,7640.0%held
AIR AAR CORPIndustrials1.5%$15.7m355,100−20%reduced
MGM MGM RESORTS INTERNATIONALConsumer Cyclical1.4%$15.4m440,000−41%reduced
UCTT ULTRA CLEAN HLDGS INCTechnology1.4%$15.1m784,910–new
AYAEUR STARS GROUP INC–1.4%$14.8m538,104−53%reduced
PRTY1EUR PARTY CITY HOLDCO INC–1.4%$14.4m925,115+2.8%added
DFIN DONNELLEY FINL SOLUTIONS INCTechnology1.2%$12.9m749,578+31%added
BLDR BUILDERS FIRSTSOURCE INCIndustrials1.2%$12.4m625,000+213%added
NAVI NAVIENT CORPORATIONFinancial Services0.9%$10.1m770,000–new
EQT EQT CORPORATIONEnergy0.9%$9.7m205,000+17%added
TRN Trinity Industries IncIndustrials0.8%$9.0m274,634–new
OSG OCTAVE SPECIALTY GROUP INCFinancial Services0.8%$8.8m562,844+36%added
MDCA MDC PARTNERS INC–0.8%$8.3m1.15m0.0%held
OCEAN RIG UDW INC no ticker–0.8%$8.2m326,2290.0%held
APPTIO INC no ticker–0.7%$7.7m272,564−46%reduced
RAYONIER ADVANCED MATLS INC no ticker–0.7%$7.5m50,2200.0%held
WMIH CORP no ticker–0.6%$6.2m4.38m–new
ASIX ADVANSIX INCBasic Materials0.5%$5.6m159,942–new
CHRS COHERUS ONCOLOGY INCHealthcare0.5%$5.1m463,396–new
SD SANDRIDGE ENERGY INCEnergy0.4%$4.6m318,103–new
ECLIPSE RES CORP no ticker–0.4%$4.6m3.20m+18%added
CNX MIDSTREAM PARTNERS LP no ticker–0.4%$4.5m246,698–new
ERII ENERGY RECOVERY INCIndustrials0.4%$4.2m508,5360.0%held
8IN SYNEOS HEALTH INC–0.4%$3.9m109,600–new
MACKEUR MERRIMACK PHARMACEUTICALS IN–0.4%$3.8m476,164+16%added
MOSAIC ACQUISITION CORP no ticker–0.3%$3.5m350,0000.0%held
VANTAGE ENERGY ACQUISITION no ticker–0.3%$3.1m300,0000.0%held
TRONC INC no ticker–0.2%$2.5m152,201–new

Exited since Q4 2017

11 rows
MU MICRON TECHNOLOGY INC2.9%$23.4m
XPER XPERI CORP2.8%$22.0m
CJ1EUR C&J ENERGY SVCS INC NEW2.6%$20.4m
DAR DARLING INGREDIENTS INC2.3%$18.1m
OSIS OSI SYSTEMS INC1.5%$12.3m
PTEN PATTERSON-UTI ENERGY INC1.5%$11.8m
BAK BRASKEM SA1.1%$8.7m
ADVMCHF ADVERUM BIOTECHNOLOGIES INC0.4%$2.8m
CONE MIDSTREAM PARTNERS LP no ticker0.2%$1.8m
NABRIVA THERAPEUTICS PLC no ticker0.2%$1.8m
TELLEUR TELLURIAN INC NEW0.09%$731k

Sector mix

  • Unclassified40.0%
  • Technology17.6%
  • Basic Materials10.3%
  • Industrials7.6%
  • Healthcare6.1%
  • Consumer Defensive5.9%
  • Energy5.8%
  • Consumer Cyclical5.0%
  • Financial Services1.8%

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