WhaleCreep

Rubric Capital Management LP 13F holdings, Q1 2020

Hedge fundSEC filingsCompare with another fundHoldings as of 2020-03-31, filed 2020-05-14

Rubric Capital Management LP disclosed 49 US equity positions worth $612.4m in its Q1 2020 13F filing. Its largest position is CNC at 6.0% of the reported book, followed by CVS and MIC2EUR. Versus Q4 2019 it opened 22 new positions, added to 9, reduced 17 and exited 17.

$612m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
49
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
6.0%
Largest position
The largest single position as a share of the reported equity book.
45.0%
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 2019: 22 new, 9 added, 17 reduced, 17 exited

49 rows
CNC CENTENE CORP DELHealthcare6.0%$36.5m614,242–new
CVS CVS HEALTH CORPHealthcare5.3%$32.4m546,500–new
MIC2EUR MACQUARIE INFRASTRUCTURE COR–5.1%$31.1m1.23m+54%added
MX MAGNACHIP SEMICONDUCTOR CORPTechnology4.5%$27.8m2.51m+6.0%added
PCG PG&E CORPUtilities4.5%$27.6m3.07m–new
CHNGUSD CHANGE HEALTHCARE INC–4.2%$25.9m2.60m+306%added
CHRS COHERUS ONCOLOGY INCHealthcare4.2%$25.7m1.58m−26%reduced
TLND TALEND S A–3.8%$23.0m1.02m–new
ALXN ALEXION PHARMACEUTICALS INC–3.7%$22.9m255,000–new
QNST QUINSTREET INCCommunication Services3.7%$22.7m2.82m+22%added
VICI VICI PPTYS INCReal Estate3.6%$21.9m1.32m–new
IDCC INTERDIGITAL INCTechnology3.5%$21.3m476,956–new
WSC WILLSCOT CORPIndustrials3.4%$21.0m2.07m−23%reduced
TBPH THERAVANCE BIOPHARMA INCHealthcare3.3%$20.2m873,577+404%added
COLL COLLEGIUM PHARMACEUTICAL INCHealthcare3.2%$19.8m1.21m–new
STMLEUR STEMLINE THERAPEUTICS INC–2.6%$16.2m3.35m−4.4%reduced
RDUSEUR RADIUS HEALTH INC–2.6%$16.0m1.23m−12%reduced
MGP MGM GROWTH PPTYS LLC–2.4%$14.9m630,307–new
BGCPEUR BGC PARTNERS INC–2.4%$14.6m5.78m−16%reduced
BDSIUSD BIODELIVERY SCIENCES INTL IN–2.3%$14.3m3.78m+46%added
SAIC SCIENCE APPLICATIONS INTL COTechnology2.1%$12.8m172,129+202%added
INSM INSMED INCHealthcare1.8%$11.0m684,888–new
GPRE GREEN PLAINS INCBasic Materials1.7%$10.4m2.14m−8.2%reduced
TXMD THERAPEUTICSMD INCHealthcare1.7%$10.2m9.61m−13%reduced
BRISTOL-MYERS SQUIBB CO no ticker–1.6%$10.0m2.64m+0.8%added
LDOS LEIDOS HOLDINGS INCTechnology1.4%$8.7m95,000–new
LSAK LESAKA TECHNOLOGIES INCTechnology1.4%$8.5m2.92m−2.0%reduced
WBA WALGREENS BOOTS ALLIANCE INC–1.3%$7.8m170,000–new
INSW INTERNATIONAL SEAWAYS INCEnergy1.2%$7.1m299,094−53%reduced
CMTL COMTECH TELECOMMUNICATIONS CTechnology1.1%$7.0m526,955–new
CCO CLEAR CHANNEL OUTDOOR HLDGSCommunication Services1.0%$6.4m10.00m+215%added
INNATE PHARMA S A no ticker–1.0%$6.2m931,673−31%reduced
07WA MR COOPER GROUP INC–0.9%$5.3m721,841−7.1%reduced
SEB SEABOARD CORP DELIndustrials0.8%$5.0m1,767−12%reduced
IMMR IMMERSION CORPTechnology0.8%$4.9m922,222−5.7%reduced
MINIEUR MOBILE MINI INC–0.7%$4.4m166,974−34%reduced
ORBC ORBCOMM INC–0.7%$4.1m1.67m–new
CITUSD CIT GROUP INC–0.6%$4.0m230,000–new
BCBUSD PRIMO WATER CORPORATION–0.5%$3.1m343,239–new
BUNGE LIMITED no ticker–0.5%$2.9m69,600–new
AMARIN CORP PLC no ticker–0.5%$2.8m700,000−25%reduced
AKRXEUR AKORN INC–0.4%$2.5m4.47m–new
ARNAEUR ARENA PHARMACEUTICALS INC–0.4%$2.5m59,306–new
ADROEUR ADURO BIOTECH INC–0.4%$2.4m871,100–new
LRNUSD K12 INC–0.4%$2.4m126,232–new
DEPOEUR ASSERTIO THERAPEUTICS INC–0.4%$2.2m3.45m−4.1%reduced
AXOVANT SCIENCES LTD no ticker–0.2%$1.1m460,200–new
TH TARGET HOSPITALITY CORPIndustrials0.1%$885k444,904−13%reduced
TARGET HOSPITALITY CORP no ticker–0.02%$127k650,0000.0%held

Exited since Q4 2019

17 rows
DD DUPONT DE NEMOURS INC5.3%$45.3m
MO ALTRIA GROUP INC5.2%$44.7m
DELL DELL TECHNOLOGIES INC5.1%$43.7m
AVYAUSD AVAYA HLDGS CORP4.4%$37.7m
REGIEUR RENEWABLE ENERGY GROUP INC4.1%$35.1m
CSTM CONSTELLIUM SE2.7%$23.2m
WKC WORLD KINECT CORPORATION2.4%$21.0m
CCJ CAMECO CORP2.3%$20.1m
ECHO ECHOSTAR CORP2.3%$19.8m
TSN TYSON FOODS INC1.9%$16.4m
STNG SCORPIO TANKERS INC1.8%$15.3m
ARQLUSD ARQULE INC1.4%$12.1m
AMPY AMPLIFY ENERGY CORP NEW0.7%$5.8m
CMBT CMB.TECH NV0.5%$4.4m
VG1EUR VONAGE HLDGS CORP0.3%$2.6m
EIDXGBP EIDOS THERAPEUTICS INC0.2%$1.6m
SRNE SORRENTO THERAPEUTICS INC0.2%$1.5m

Sector mix

  • Unclassified39.6%
  • Healthcare25.4%
  • Technology14.9%
  • Communication Services4.7%
  • Utilities4.5%
  • Industrials4.4%
  • Real Estate3.6%
  • Basic Materials1.7%
  • Energy1.2%

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