WhaleCreep

Rubric Capital Management LP 13F holdings, Q3 2020

Hedge fundSEC filingsCompare with another fundHoldings as of 2020-09-30, filed 2020-11-13

Rubric Capital Management LP disclosed 64 US equity positions worth $1.1bn in its Q3 2020 13F filing. Its largest position is WSC at 5.7% of the reported book, followed by ALLY and QNST. Versus Q2 2020 it opened 22 new positions, added to 12, reduced 15 and exited 9.

$1.1bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
64
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
5.7%
Largest position
The largest single position as a share of the reported equity book.
37.9%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
38
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 Q2 2020: 22 new, 12 added, 15 reduced, 9 exited

50 of 64
WSC WILLSCOT HLDGS CORPIndustrials5.7%$60.0m3.60m+15%added
ALLY ALLY FINL INCFinancial Services5.1%$53.9m2.15m0.0%held
QNST QUINSTREET INCCommunication Services4.2%$44.6m2.82m0.0%held
COLL COLLEGIUM PHARMACEUTICAL INCHealthcare3.8%$40.1m1.93m0.0%held
RXT RACKSPACE TECHNOLOGY INCTechnology3.5%$37.6m1.95m–new
MX MAGNACHIP SEMICONDUCTOR CORPTechnology3.4%$35.8m2.61m0.0%held
INSM INSMED INCHealthcare3.3%$35.4m1.10m+6.6%added
CHNGUSD CHANGE HEALTHCARE INC–3.0%$31.9m2.20m+28%added
MIC2EUR MACQUARIE INFRASTRUCTURE COR–3.0%$31.6m1.18m+22%added
LAUR LAUREATE EDUCATION INCConsumer Defensive3.0%$31.4m2.37m+493%added
IDCC INTERDIGITAL INCTechnology2.9%$30.4m533,343−10%reduced
TTMI TTM TECHNOLOGIES INCTechnology2.7%$28.7m2.52m–new
AVYAUSD AVAYA HLDGS CORP–2.6%$28.0m1.84m+32%added
ENS ENERSYSIndustrials2.4%$25.8m384,680–new
RITM RITHM CAPITAL CORPReal Estate2.4%$25.5m3.21m−5.8%reduced
CVS CVS HEALTH CORPHealthcare2.3%$24.9m425,770–new
PFSI PENNYMAC FINL SVCS INC NEWFinancial Services2.2%$23.9m411,1850.0%held
THC TENET HEALTHCARE CORPHealthcare2.2%$23.3m950,000+11%added
OUT OUTFRONT MEDIA INCReal Estate2.2%$23.2m1.59m−6.4%reduced
AXALTA COATING SYS LTD no ticker–2.2%$22.9m1.03m–new
BGCPEUR BGC PARTNERS INC–2.1%$22.6m9.44m+122%added
TXMD THERAPEUTICSMD INCHealthcare2.1%$22.0m13.93m+50%added
FREEEUR WHOLE EARTH BRANDS INC–2.0%$21.7m2.60m+18%added
GPRE GREEN PLAINS INCBasic Materials2.0%$21.6m1.39m−35%reduced
PARR PAR PACIFIC HOLDINGS INCEnergy1.7%$18.5m2.73m+5.0%added
OPLN OPENLANE INCConsumer Cyclical1.6%$17.4m1.21m−43%reduced
VG1EUR VONAGE HLDGS CORP–1.6%$16.9m1.65m−31%reduced
POR PORTLAND GEN ELEC COUtilities1.5%$15.5m436,773–new
PTVEUSD PACTIV EVERGREEN INC–1.4%$15.3m1.20m–new
BDSIUSD BIODELIVERY SCIENCES INTL IN–1.4%$14.9m4.00m0.0%held
GM General Motors CorpConsumer Cyclical1.4%$14.8m500,000–new
RDUSEUR RADIUS HEALTH INC–1.3%$13.9m1.23m0.0%held
KBR KBR INCIndustrials1.3%$13.8m619,250–new
TWO HBRS INVT CORP no ticker–1.2%$13.2m2.59m−27%reduced
07WA MR COOPER GROUP INC–1.2%$12.9m575,959−36%reduced
XPERI HOLDING CORP no ticker–1.1%$11.5m1.00m+400%added
CITUSD CIT GROUP INC–0.9%$10.0m567,237–new
CCO CLEAR CHANNEL OUTDOOR HLDGSCommunication Services0.9%$9.9m9.95m−3.3%reduced
KRAUSD KRATON CORPORATION–0.9%$9.8m550,000–new
MD PEDIATRIX MEDICAL GROUP INCHealthcare0.9%$9.1m560,857–new
KEX KIRBY CORPIndustrials0.9%$9.0m250,000–new
USFD US FOODS HLDG CORPConsumer Defensive0.8%$8.6m388,802–new
ACCUSD AMERICAN CAMPUS CMNTYS INC–0.8%$8.6m245,400–new
TBPH THERAVANCE BIOPHARMA INCHealthcare0.8%$8.1m550,747−42%reduced
LSAK LESAKA TECHNOLOGIES INCTechnology0.7%$7.2m2.13m0.0%held
PK PARK HOTELS & RESORTS INCReal Estate0.6%$6.6m663,447–new
ORBC ORBCOMM INC–0.5%$5.7m1.67m0.0%held
WYNEUR WYNDHAM DESTINATIONS INC–0.5%$5.4m176,679–new
BRISTOL-MYERS SQUIBB CO no ticker–0.5%$5.3m2.37m−50%reduced
GCO GENESCO INCConsumer Cyclical0.4%$4.6m214,007−52%reduced

Exited since Q2 2020

9 rows
PCG PG&E CORP4.9%$42.1m
DELL DELL TECHNOLOGIES INC3.0%$26.1m
SAILEUR SAILPOINT TECHNOLOGIES HLDGS2.8%$24.4m
BHC BAUSCH HEALTH COS INC2.4%$20.6m
TLND TALEND S A2.2%$19.0m
DOO BRP INC1.9%$16.3m
TPICQEUR TPI COMPOSITES INC1.1%$9.5m
HUDSON LTD no ticker0.5%$4.5m
MINIEUR MOBILE MINI INC0.5%$4.3m

Sector mix

  • Unclassified30.3%
  • Healthcare15.3%
  • Technology13.5%
  • Industrials10.2%
  • Financial Services7.7%
  • Real Estate5.2%
  • Communication Services5.1%
  • Consumer Defensive3.8%
  • Consumer Cyclical3.5%
  • Basic Materials2.0%
  • Energy1.7%
  • Utilities1.5%

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