WhaleCreep

Rubric Capital Management LP 13F holdings, Q3 2023

Hedge fundSEC filingsCompare with another fundHoldings as of 2023-09-30, filed 2023-11-15

Rubric Capital Management LP disclosed 59 US equity positions worth $2.4bn in its Q3 2023 13F filing. Its largest position is TEVA at 8.1% of the reported book, followed by GLNG and VTRS. Versus Q2 2023 it opened 9 new positions, added to 21, reduced 14 and exited 11.

$2.4bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
59
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
8.1%
Largest position
The largest single position as a share of the reported equity book.
48.2%
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 Q2 2023: 9 new, 21 added, 14 reduced, 11 exited

50 of 59
TEVA TEVA PHARMACEUTICAL INDS LTDHealthcare8.1%$194m19.00m+1.5%added
GLNG GOLAR LNG LTDEnergy6.6%$158m6.51m+0.8%added
VTRS VIATRIS INCHealthcare5.5%$131m13.25m+11%added
ROIV ROIVANT SCIENCES LTDHealthcare5.2%$123m10.50m+197%added
BGC BGC GROUP INCFinancial Services4.4%$106m20.00m–new
07WA MR COOPER GROUP INC–4.4%$105m1.97m0.0%held
CCJ CAMECO CORPEnergy4.2%$100m2.52m−6.4%reduced
FLR FLUOR CORPIndustrials3.7%$87.3m2.38m−30%reduced
AIR AAR CORPIndustrials3.1%$73.1m1.23m0.0%held
COLL COLLEGIUM PHARMACEUTICAL INCHealthcare3.0%$71.0m3.17m−7.3%reduced
PARR PAR PACIFIC HOLDINGS INCEnergy3.0%$70.9m1.97m−27%reduced
HTZ HERTZ GLOBAL HLDGS INCIndustrials2.7%$63.3m5.17m−9.7%reduced
MATV MATIV HOLDINGS INCBasic Materials2.4%$57.0m4.00m+16%added
RENEW ENERGY GLOBAL PLC no ticker–2.3%$53.7m9.90m+21%added
KINIKSA PHARMACEUTICALS LTD no ticker–2.2%$53.5m3.08m−8.9%reduced
NRG NRG ENERGY INCUtilities2.1%$50.8m1.32m+92%added
ADEA ADEIA INCTechnology2.1%$49.6m4.64m+1.0%added
ANIP ANI PHARMACEUTICALS INCHealthcare2.1%$49.2m847,0110.0%held
KOP KOPPERS HOLDINGS INCBasic Materials1.9%$45.0m1.14m+6.9%added
OFIX ORTHOFIX MED INCHealthcare1.9%$44.2m3.43m+44%added
DOLE DOLE PLCConsumer Defensive1.8%$43.3m3.74m+2.9%added
PTVEUSD PACTIV EVERGREEN INC–1.7%$40.6m5.00m+3.8%added
XPER XPERI INCTechnology1.7%$39.9m4.04m+5.2%added
HOLLYSYS AUTOMATION TECHNOLO no ticker–1.6%$38.5m1.94m0.0%held
TAC TRANSALTA CORPUtilities1.6%$38.3m4.40m+29%added
PLAYA HOTELS & RESORTS NV no ticker–1.6%$37.6m5.20m−28%reduced
CSTM CONSTELLIUM SEBasic Materials1.5%$35.6m1.95m−12%reduced
MGNI MAGNITE INCCommunication Services1.3%$30.2m4.00m+81%added
HRTX HERON THERAPEUTICS INCHealthcare1.2%$27.5m26.71m+127%added
ARQT ARCUTIS BIOTHERAPEUTICS INCHealthcare1.1%$26.7m5.03m+3.1%added
QDEL QUIDELORTHO CORPHealthcare0.9%$21.7m296,426–new
OVID OVID THERAPEUTICS INCHealthcare0.9%$20.9m5.45m0.0%held
VST VISTRA CORPUtilities0.8%$20.0m602,189−79%reduced
SCPH SCPHARMACEUTICALS INC–0.8%$19.3m2.71m+234%added
RVNCEUR REVANCE THERAPEUTICS INC–0.8%$18.4m1.60m–new
AHCO ADAPTHEALTH CORPHealthcare0.8%$17.8m1.96m−32%reduced
AMRX AMNEAL PHARMACEUTICALS INCHealthcare0.7%$17.0m4.02m+55%added
ZYME ZYMEWORKS INCHealthcare0.7%$16.8m2.65m+12%added
MREO MEREO BIOPHARMA GROUP PLCHealthcare0.6%$15.0m11.62m0.0%held
OABI OMNIAB INC–0.6%$14.8m2.85m+306%added
MSGS MADISON SQUARE GRDN SPRT CORCommunication Services0.6%$14.7m83,512–new
PCRX PACIRA BIOSCIENCES INCHealthcare0.6%$14.1m459,637–new
TSAT TELESAT CORPTechnology0.6%$13.7m959,764−24%reduced
SSYS STRATASYS LTDTechnology0.5%$12.4m910,633–new
TRVI TREVI THERAPEUTICS INCHealthcare0.5%$12.4m5.68m0.0%held
STRO SUTRO BIOPHARMA INCHealthcare0.5%$11.6m3.34m−17%reduced
CCO CLEAR CHANNEL OUTDOOR HLDGSCommunication Services0.4%$10.6m6.71m−61%reduced
FIP FTAI INFRASTRUCTURE INC–0.4%$10.3m3.19m0.0%held
ARDX ARDELYX INCHealthcare0.4%$10.2m2.50m–new
MX MAGNACHIP SEMICONDUCTOR CORPTechnology0.3%$8.0m967,8670.0%held

Exited since Q2 2023

11 rows
BGCPEUR BGC PARTNERS INC3.8%$88.6m
HAPN HAPPEN INC2.2%$51.8m
STNG SCORPIO TANKERS INC2.1%$48.8m
RDNT RADNET INC0.7%$16.8m
DBRG DIGITALBRIDGE GROUP INC0.5%$11.7m
96669EUR DIGIMARC CORP NEW0.5%$11.1m
ABUS ARBUTUS BIOPHARMA CORP0.3%$7.8m
PENN PENN ENTERTAINMENT INC0.1%$3.3m
POINT BIOPHARMA GLOBAL INC no ticker0.07%$1.7m
KPTI KARYOPHARM THERAPEUTICS INC0.07%$1.6m
FREEEUR WHOLE EARTH BRANDS INC0.01%$285k

Sector mix

  • Healthcare35.3%
  • Unclassified16.9%
  • Energy13.8%
  • Industrials9.4%
  • Basic Materials5.8%
  • Technology5.6%
  • Utilities4.6%
  • Financial Services4.4%
  • Communication Services2.3%
  • Consumer Defensive1.8%

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