WhaleCreep

Rubric Capital Management LP 13F holdings, Q2 2018

Hedge fundSEC filingsCompare with another fundHoldings as of 2018-06-30, filed 2018-08-14

Rubric Capital Management LP disclosed 40 US equity positions worth $1.0bn in its Q2 2018 13F filing. Its largest position is CWH at 6.7% of the reported book, followed by CNDT and BRSL. Versus Q1 2018 it opened 7 new positions, added to 15, reduced 12 and exited 18.

$1.0bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
40
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
6.7%
Largest position
The largest single position as a share of the reported equity book.
52.6%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
24
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 Q1 2018: 7 new, 15 added, 12 reduced, 18 exited

40 rows
CWH CAMPING WORLD HLDGS INCConsumer Cyclical6.7%$67.4m2.70m–new
CNDT CONDUENT INCTechnology6.6%$66.3m3.65m+54%added
BRSL BRIGHTSTAR LOTTERY PLCConsumer Cyclical5.3%$53.9m2.32m+64%added
NATIONSTAR MTG HLDGS INC no ticker–5.2%$52.7m3.00m+15%added
FLEXION THERAPEUTICS INC no ticker–5.1%$51.0m1.97m−2.5%reduced
GPOR GULFPORT ENERGY CORPEnergy5.0%$50.3m4.00m−19%reduced
GMS1EUR GMS INC–5.0%$50.1m1.85m+78%added
RYAM RAYONIER ADVANCED MATLS INCBasic Materials4.7%$47.7m2.79m+39%added
MCDERMOTT INTL INC no ticker–4.7%$47.3m2.41m–new
HRTX HERON THERAPEUTICS INCHealthcare4.4%$44.3m1.14m−24%reduced
WSC WILLSCOT CORPIndustrials4.3%$43.9m4.15m0.0%held
KLIC KULICKE & SOFFA INDS INCTechnology4.2%$42.9m1.80m+117%added
REGIEUR RENEWABLE ENERGY GROUP INC–3.5%$35.1m1.96m−15%reduced
8IN SYNEOS HEALTH INC–3.5%$35.0m746,687+581%added
KRAUSD KRATON CORPORATION–3.2%$32.3m700,000−31%reduced
ICHR ICHOR HOLDINGSTechnology3.1%$31.2m1.47m−12%reduced
MX MAGNACHIP SEMICONDUCTOR CORPTechnology3.0%$30.8m3.00m+28%added
BLDR BUILDERS FIRSTSOURCE INCIndustrials2.9%$29.3m1.60m+156%added
OSG OCTAVE SPECIALTY GROUP INCFinancial Services2.8%$27.8m1.40m+149%added
CSTM CONSTELLIUM SEBasic Materials2.4%$23.9m2.32m−10%reduced
PRTY1EUR PARTY CITY HOLDCO INC–1.8%$18.7m1.23m+32%added
SD SANDRIDGE ENERGY INCEnergy1.7%$17.2m969,400+205%added
SPIRIT MTA REIT no ticker–1.7%$16.9m1.64m–new
WMIH CORP no ticker–1.3%$12.9m9.66m+120%added
OLN OLIN CORPBasic Materials1.2%$12.5m436,455−60%reduced
NTRA NATERA INCHealthcare1.1%$11.2m594,664–new
OCEAN RIG UDW INC no ticker–1.0%$9.6m326,2290.0%held
NAVI NAVIENT CORPORATIONFinancial Services0.8%$8.1m620,000−19%reduced
RAYONIER ADVANCED MATLS INC no ticker–0.6%$6.2m50,2200.0%held
ECLIPSE RES CORP no ticker–0.6%$5.8m3.61m+13%added
CHRS COHERUS ONCOLOGY INCHealthcare0.5%$4.8m341,490−26%reduced
FBMUSD FOUNDATION BLDG MATLS INC–0.4%$3.6m231,862–new
MGIEUR MONEYGRAM INTL INC–0.3%$3.5m518,820–new
VANTAGE ENERGY ACQUISITION no ticker–0.3%$3.1m300,0000.0%held
TRONC INC no ticker–0.3%$2.6m152,2010.0%held
MACKEUR MERRIMACK PHARMACEUTICALS IN–0.2%$2.3m476,1640.0%held
MPOUSD MIDSTATES PETE CO INC–0.2%$2.2m165,000+10%added
CNX MIDSTREAM PARTNERS LP no ticker–0.2%$2.2m111,698−55%reduced
ERII ENERGY RECOVERY INCIndustrials0.2%$2.0m250,818−51%reduced
AVYAUSD AVAYA HLDGS CORP–0.1%$1.5m74,070–new

Exited since Q1 2018

18 rows
SPB SPECTRUM BRANDS HLDGS INC5.9%$62.6m
MCDERMOTT INTL INC no ticker4.5%$47.8m
MITL1 MITEL NETWORKS CORP4.1%$44.2m
CIEN CIENA CORP3.0%$32.1m
USX1 UNITED STATES STL CORP NEW1.9%$20.1m
HALO HALOZYME THERAPEUTICS INC1.7%$17.9m
TWXCHF TIME WARNER INC1.6%$16.7m
AIR AAR CORP1.5%$15.7m
MGM MGM RESORTS INTERNATIONAL1.4%$15.4m
UCTT ULTRA CLEAN HLDGS INC1.4%$15.1m
AYAEUR STARS GROUP INC1.4%$14.8m
DFIN DONNELLEY FINL SOLUTIONS INC1.2%$12.9m
EQT EQT CORPORATION0.9%$9.7m
TRN Trinity Industries Inc0.8%$9.0m
MDCA MDC PARTNERS INC0.8%$8.3m
APPTIO INC no ticker0.7%$7.7m
ASIX ADVANSIX INC0.5%$5.6m
MOSAIC ACQUISITION CORP no ticker0.3%$3.5m

Sector mix

  • Unclassified39.1%
  • Technology16.9%
  • Consumer Cyclical12.0%
  • Basic Materials8.3%
  • Industrials7.4%
  • Energy6.7%
  • Healthcare6.0%
  • Financial Services3.6%

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