WhaleCreep

Rubric Capital Management LP 13F holdings, Q1 2023

Hedge fundSEC filingsCompare with another fundHoldings as of 2023-03-31, filed 2023-05-12

Rubric Capital Management LP disclosed 70 US equity positions worth $2.5bn in its Q1 2023 13F filing. Its largest position is GLNG at 5.6% of the reported book, followed by STNG and CCJ. Versus Q4 2022 it opened 11 new positions, added to 23, reduced 23 and exited 35.

$2.5bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
70
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
5.6%
Largest position
The largest single position as a share of the reported equity book.
41.5%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
37
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 2022: 11 new, 23 added, 23 reduced, 35 exited

50 of 70
GLNG GOLAR LNG LTDEnergy5.6%$140m6.47m+1.9%added
STNG SCORPIO TANKERS INCEnergy5.4%$135m2.40m–new
CCJ CAMECO CORPEnergy4.9%$123m4.69m+1776%added
HTZ HERTZ GLOBAL HLDGS INCIndustrials4.2%$106m6.48m−12%reduced
BGCPEUR BGC PARTNERS INC–4.1%$104m19.85m+8.8%added
FLR FLUOR CORPIndustrials4.0%$101m3.27m−1.0%reduced
PLAYA HOTELS & RESORTS NV no ticker–3.6%$91.3m9.51m−20%reduced
PARR PAR PACIFIC HOLDINGS INCEnergy3.4%$84.7m2.90m−4.9%reduced
AIR AAR CORPIndustrials3.2%$79.8m1.46m−0.1%held
COLL COLLEGIUM PHARMACEUTICAL INCHealthcare3.1%$78.5m3.27m−1.8%reduced
07WA MR COOPER GROUP INC–2.8%$71.2m1.74m+54%added
MATV MATIV HOLDINGS INCBasic Materials2.8%$69.8m3.25m+7.7%added
VST VISTRA CORPUtilities2.4%$59.1m2.46m–new
DOLE DOLE PLCConsumer Defensive2.2%$55.7m4.74m+5.4%added
FCNCA FIRST CTZNS BANCSHARES INC NFinancial Services2.1%$51.6m53,058–new
TAC TRANSALTA CORPUtilities2.0%$50.6m5.79m−6.3%reduced
RENEW ENERGY GLOBAL PLC no ticker–1.8%$45.9m8.17m+258%added
CSTM CONSTELLIUM SEBasic Materials1.8%$45.7m2.99m–new
XPER XPERI INCTechnology1.7%$42.0m3.84m0.0%held
ROIV ROIVANT SCIENCES LTDHealthcare1.6%$41.3m5.60m+87%added
AHCO ADAPTHEALTH CORPHealthcare1.6%$41.2m3.31m−12%reduced
ADEA ADEIA INCTechnology1.6%$40.7m4.59m−0.6%reduced
TEVA TEVA PHARMACEUTICAL INDS LTDHealthcare1.6%$39.8m4.50m–new
HAPN HAPPEN INCFinancial Services1.6%$39.6m5.49m−5.7%reduced
KOP KOPPERS HOLDINGS INCBasic Materials1.5%$38.9m1.11m−2.0%reduced
PTVEUSD PACTIV EVERGREEN INC–1.5%$38.5m4.82m+8.2%added
ARQT ARCUTIS BIOTHERAPEUTICS INCHealthcare1.5%$38.5m3.50m+28%added
CTIC1USD CTI BIOPHARMA CORP–1.5%$37.6m8.96m–new
HOLLYSYS AUTOMATION TECHNOLO no ticker–1.4%$34.3m1.98m−1.2%reduced
OFIX ORTHOFIX MED INCHealthcare1.4%$34.2m2.04m–new
KINIKSA PHARMACEUTICALS LTD no ticker–1.2%$29.9m2.78m+77%added
CMPR CIMPRESS PLCIndustrials1.2%$29.1m664,475+156%added
SDGR SCHRODINGER INCHealthcare1.1%$28.6m1.09m+8.8%added
LAUR LAUREATE EDUCATION INCConsumer Defensive1.1%$28.1m2.39m+265%added
ZYME ZYMEWORKS INCHealthcare1.0%$25.8m2.85m−5.4%reduced
ANIP ANI PHARMACEUTICALS INCHealthcare1.0%$25.7m648,041+72%added
96669EUR DIGIMARC CORP NEW–0.9%$23.7m1.21m−0.7%reduced
IDCC INTERDIGITAL INCTechnology0.9%$22.9m314,018+3.2%added
SPRY ARS PHARMACEUTICALS INCHealthcare0.9%$22.7m3.48m+16%added
OUT OUTFRONT MEDIA INCReal Estate0.9%$21.7m1.34m–new
CCO CLEAR CHANNEL OUTDOOR HLDGSCommunication Services0.8%$20.9m17.39m0.0%held
STRO SUTRO BIOPHARMA INCHealthcare0.8%$20.1m4.36m+36%added
POINT BIOPHARMA GLOBAL INC no ticker–0.8%$19.2m2.65m+45%added
OVID OVID THERAPEUTICS INCHealthcare0.7%$18.1m7.00m+2.5%added
HRTX HERON THERAPEUTICS INCHealthcare0.7%$17.7m11.75m0.0%held
KPTI KARYOPHARM THERAPEUTICS INCHealthcare0.7%$17.3m4.44m−46%reduced
290A CHINOOK THERAPEUTICS INC–0.7%$16.7m719,8090.0%held
MX MAGNACHIP SEMICONDUCTOR CORPTechnology0.6%$15.6m1.68m−14%reduced
HIRERIGHT HOLDINGS CORPORATI no ticker–0.6%$15.3m1.44m−5.5%reduced
ABUS ARBUTUS BIOPHARMA CORPHealthcare0.5%$12.7m4.20m+21%added

Exited since Q4 2022

35 rows
NFE NEW FORTRESS ENERGY INC3.1%$71.4m
WSC WILLSCOT HLDGS CORP2.5%$56.1m
VALARIS LTD no ticker1.8%$41.1m
DENUSD DENBURY INC1.5%$34.3m
AMRYT PHARMA PLC no ticker1.1%$26.3m
BHC BAUSCH HEALTH COS INC1.1%$25.5m
QNST QUINSTREET INC0.9%$19.5m
EVER EVERQUOTE INC0.8%$18.4m
META META PLATFORMS INC0.7%$16.1m
GOOG ALPHABET INC0.6%$13.5m
GSM FERROGLOBE PLC0.5%$12.4m
CVE Cenovus Energy Inc0.5%$11.0m
LNTH LANTHEUS HLDGS INC0.5%$10.9m
SMTC SEMTECH CORP0.4%$8.9m
OABI OMNIAB INC0.4%$8.1m
SU SUNCOR ENERGY INC NEW0.3%$7.4m
KRYS KRYSTAL BIOTECH INC0.3%$7.3m
VNET VNET GROUP INC0.3%$6.2m
MORFUSD MORPHIC HLDG INC0.2%$5.3m
OVV OVINTIV INC0.2%$5.0m
NGMUSD NGM BIOPHARMACEUTICALS INC0.2%$4.4m
CTMX CYTOMX THERAPEUTICS INC.0.2%$3.9m
XOMAGBP XOMA CORP DEL0.2%$3.8m
ATAI BECKLEY NV no ticker0.2%$3.5m
DTIL PRECISION BIOSCIENCES INC0.1%$3.2m
AXONEUR SIO GENE THERAPIES INC0.1%$3.0m
TSVT* 2SEVENTY BIO INC0.1%$2.5m
NAUT NAUTILUS BIOTECHNOLOGY INC0.06%$1.3m
MRNS* MARINUS PHARMACEUTICALS INC0.05%$1.3m
QSI QUANTUM SI INC0.05%$1.2m
PASG PASSAGE BIO INC0.05%$1.1m
KORE GROUP HLDGS INC no ticker0.04%$897k
RNAC CARTESIAN THERAPEUTICS INC0.04%$815k
ADV ADVANTAGE SOLUTIONS INC0.03%$749k
VIA OPTRONICS AG no ticker0.02%$402k

Sector mix

  • Unclassified22.9%
  • Healthcare20.3%
  • Energy19.2%
  • Industrials12.6%
  • Basic Materials6.2%
  • Technology5.8%
  • Utilities4.4%
  • Financial Services3.6%
  • Consumer Defensive3.3%
  • Real Estate0.9%
  • Communication Services0.8%

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