WhaleCreep

Rubric Capital Management LP 13F holdings, Q4 2021

Hedge fundSEC filingsCompare with another fundHoldings as of 2021-12-31, filed 2022-02-14

Rubric Capital Management LP disclosed 68 US equity positions worth $2.1bn in its Q4 2021 13F filing. Its largest position is HTZ at 11.7% of the reported book, followed by PLAYA HOTELS & RESORTS NV and GSM. Versus Q3 2021 it opened 29 new positions, added to 22, reduced 6 and exited 16.

$2.1bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
68
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
11.7%
Largest position
The largest single position as a share of the reported equity book.
43.1%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
29
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 Q3 2021: 29 new, 22 added, 6 reduced, 16 exited

50 of 68
HTZ HERTZ GLOBAL HLDGS INCIndustrials11.7%$248m9.91m–new
PLAYA HOTELS & RESORTS NV no ticker–4.3%$92.0m11.53m+11%added
GSM FERROGLOBE PLCBasic Materials4.0%$84.8m13.65m+36%added
GLNG GOLAR LNG LTDEnergy4.0%$84.3m6.80m+20%added
AHCO ADAPTHEALTH CORPHealthcare3.5%$74.0m3.02m+32%added
FLR FLUOR CORPIndustrials3.4%$72.5m2.93m–new
BGCPEUR BGC PARTNERS INC–3.4%$72.1m15.50m+28%added
AIR AAR CORPIndustrials3.1%$66.7m1.71m+10%added
PARR PAR PACIFIC HOLDINGS INCEnergy2.9%$61.0m3.70m0.0%held
ARNC1USD ARCONIC CORPORATION–2.8%$58.2m1.76m+49%added
TAC TRANSALTA CORPUtilities2.7%$57.7m5.19m0.0%held
XPERI HOLDING CORP no ticker–2.7%$56.9m3.01m−4.6%reduced
2662247D ITEOS THERAPEUTICS INC–2.6%$54.6m1.17m+19%added
CCO CLEAR CHANNEL OUTDOOR HLDGSCommunication Services2.6%$54.3m16.40m+14%added
PTVEUSD PACTIV EVERGREEN INC–2.5%$52.2m4.12m+1.0%added
WSC WILLSCOT HLDGS CORPIndustrials2.4%$51.7m1.26m−59%reduced
COLL COLLEGIUM PHARMACEUTICAL INCHealthcare2.3%$48.7m2.61m0.0%held
RDUSEUR RADIUS HEALTH INC–2.3%$48.2m6.96m+89%added
DAL DELTA AIR LINES INCIndustrials2.0%$41.7m1.07m–new
TSAT TELESAT CORPTechnology1.9%$40.0m1.40m–new
OMF ONEMAIN HLDGS INCFinancial Services1.9%$39.8m796,020+112%added
ATRSEUR ANTARES PHARMA INC–1.8%$38.6m10.80m+8.0%added
AMRYT PHARMA PLC no ticker–1.8%$38.3m3.54m+8.8%added
GEF GREIF INCConsumer Cyclical1.7%$35.8m592,360−18%reduced
ARRY ARRAY TECHNOLOGIES INCTechnology1.7%$35.4m2.25m–new
KOP KOPPERS HOLDINGS INCBasic Materials1.6%$34.7m1.11m+4.7%added
FREEEUR WHOLE EARTH BRANDS INC–1.6%$33.3m3.10m+7.5%added
CHGG CHEGG INCConsumer Defensive1.5%$31.2m1.02m–new
CMRXEUR CHIMERIX INC–1.5%$30.9m4.80m+20%added
POWER & DIGITAL INFRA ACQ CO no ticker–1.1%$24.2m2.21m+48%added
MREO MEREO BIOPHARMA GROUP PLCHealthcare1.1%$23.9m14.91m+32%added
TREE LENDINGTREE INCFinancial Services1.0%$20.8m169,255–new
QNST QUINSTREET INCCommunication Services1.0%$20.2m1.11m–new
EVER EVERQUOTE INCCommunication Services0.9%$20.0m1.28m–new
NFE NEW FORTRESS ENERGY INCEnergy0.9%$19.7m815,162+129%added
MX MAGNACHIP SEMICONDUCTOR CORPTechnology0.9%$18.3m872,3080.0%held
KPTI KARYOPHARM THERAPEUTICS INCHealthcare0.8%$17.9m2.78m−18%reduced
VINCERX PHARMA INC no ticker–0.8%$16.2m1.59m+21%added
OVV OVINTIV INCEnergy0.7%$15.3m453,244–new
ADV ADVANTAGE SOLUTIONS INCCommunication Services0.7%$15.2m1.89m+2.7%added
NRDY NERDY INCTechnology0.7%$14.9m3.30m–new
ANIP ANI PHARMACEUTICALS INCHealthcare0.7%$14.2m307,557–new
96669EUR DIGIMARC CORP NEW–0.6%$13.7m347,226–new
AVPT AVEPOINT INCTechnology0.6%$12.3m1.95m–new
INVZ INNOVIZ TECHNOLOGIES LTD–0.5%$10.8m1.71m–new
CTMX CYTOMX THERAPEUTICS INC.Healthcare0.5%$10.4m2.41m–new
MAX MEDIAALPHA INCCommunication Services0.5%$9.8m634,579–new
290A CHINOOK THERAPEUTICS INC–0.4%$9.2m564,3530.0%held
JOBY JOBY AVIATION INCIndustrials0.4%$8.7m1.19m–new
NVRI ENVIRI CORPIndustrials0.4%$8.2m488,797−71%reduced

Exited since Q3 2021

16 rows
ALLY ALLY FINL INC3.3%$57.5m
CF CF Industries Holdings Inc2.7%$46.3m
LORLUSD LORAL SPACE & COM INC2.6%$45.2m
GPRE GREEN PLAINS INC2.5%$43.5m
HMHCUSD HOUGHTON MIFFLIN HARCOURT CO2.1%$36.6m
TRIP TRIPADVISOR INC1.8%$31.2m
MTG MGIC INVT CORP WIS1.3%$22.8m
RDN RADIAN GROUP INC1.2%$21.3m
IDCC INTERDIGITAL INC0.8%$13.9m
HY HYSTER-YALE INC0.6%$11.1m
KURA KURA ONCOLOGY INC0.4%$7.5m
STRONGBRIDGE BIOPHARMA PLC no ticker0.4%$6.3m
JXN JACKSON FINANCIAL INC0.3%$5.2m
OCUL OCULAR THERAPEUTIX INC0.2%$3.5m
RIGL RIGEL PHARMACEUTICALS INC0.1%$2.4m
KINIKSA PHARMACEUTICALS LTD no ticker0.1%$1.8m

Sector mix

  • Unclassified33.1%
  • Industrials23.5%
  • Healthcare9.0%
  • Energy8.5%
  • Technology5.7%
  • Basic Materials5.6%
  • Communication Services5.6%
  • Financial Services2.9%
  • Utilities2.7%
  • Consumer Cyclical1.7%
  • Consumer Defensive1.6%

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