WhaleCreep

Rubric Capital Management LP 13F holdings, Q2 2025

Hedge fundSEC filingsCompare with another fundHoldings as of 2025-06-30, filed 2025-08-14

Rubric Capital Management LP disclosed 63 US equity positions worth $6.2bn in its Q2 2025 13F filing. Its largest position is TLN at 21.1% of the reported book, followed by TEVA and FTAI AVIATION LTD. Versus Q1 2025 it opened 7 new positions, added to 27, reduced 19 and exited 9.

$6.2bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
63
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
21.1%
Largest position
The largest single position as a share of the reported equity book.
59.9%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
15
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 Q1 2025: 7 new, 27 added, 19 reduced, 9 exited

50 of 63
TLN TALEN ENERGY CORPUtilities21.1%$1.3bn4.51m−26%reduced
TEVA TEVA PHARMACEUTICAL INDS LTDHealthcare7.0%$436m26.00m+1.8%added
FTAI AVIATION LTD no ticker–6.3%$390m3.39m+28%added
GLNG GOLAR LNG LTDEnergy6.1%$378m9.18m+2.3%added
VST VISTRA CORPUtilities4.4%$276m1.42m+51%added
ROIV ROIVANT SCIENCES LTDHealthcare3.7%$230m20.37m+15%added
FLR FLUOR CORPIndustrials3.3%$205m4.00m–new
BGC BGC GROUP INCFinancial Services2.8%$174m17.01m−1.3%reduced
TAC TRANSALTA CORPUtilities2.8%$172m15.95m+33%added
ARQT ARCUTIS BIOTHERAPEUTICS INCHealthcare2.4%$151m10.75m−2.0%reduced
MCY MERCURY GENL CORP NEWFinancial Services2.2%$138m2.05m+13%added
QDEL QUIDELORTHO CORPHealthcare2.1%$134m4.64m−24%reduced
ALITEUR ALIGHT INC–1.8%$111m19.63m+11%added
KINIKSA PHARMACEUTICALS INTL no ticker–1.7%$108m3.91m+16%added
VTRS VIATRIS INCHealthcare1.7%$107m12.00m–new
SDGR SCHRODINGER INCHealthcare1.6%$101m5.00m+4.2%added
RENEW ENERGY GLOBAL PLC no ticker–1.6%$99.8m14.44m−0.6%reduced
AMRX AMNEAL PHARMACEUTICALS INCHealthcare1.5%$94.7m11.71m+9.1%added
COLL COLLEGIUM PHARMACEUTICAL INCHealthcare1.5%$93.4m3.16m+5.3%added
IART INTEGRA LIFESCIENCES HLDGS CHealthcare1.5%$90.2m7.35m+58%added
SSYS STRATASYS LTDTechnology1.4%$89.5m7.80m+18%added
NFE NEW FORTRESS ENERGY INCEnergy1.3%$81.0m24.40m+0.3%held
ADPT ADAPTIVE BIOTECHNOLOGIES CORHealthcare1.2%$72.9m6.26m−52%reduced
INDIVIOR PLC no ticker–1.1%$68.5m4.65m+32%added
OPK OPKO HEALTH INCHealthcare1.0%$63.1m47.79m−1.9%reduced
ADEA ADEIA INCTechnology1.0%$60.6m4.28m−1.2%reduced
ZYME ZYMEWORKS INCHealthcare1.0%$59.1m4.71m+8.6%added
LIBERTY GLOBAL LTD no ticker–0.9%$57.0m5.69m−5.2%reduced
DK DELEK US HLDGS INC NEWEnergy0.9%$56.9m2.69m0.0%held
HRTX HERON THERAPEUTICS INCHealthcare0.9%$55.3m26.71m0.0%held
07WA MR COOPER GROUP INC–0.8%$50.4m337,924−63%reduced
PCG PG&E CORPUtilities0.8%$50.2m3.60m–new
TRVI TREVI THERAPEUTICS INCHealthcare0.8%$46.7m8.53m+88%added
CNNE CANNAE HLDGS INCConsumer Cyclical0.7%$43.9m2.11m+41%added
OFIX ORTHOFIX MED INCHealthcare0.7%$41.5m3.72m+0.7%added
MREO MEREO BIOPHARMA GROUP PLCHealthcare0.7%$41.5m15.31m0.0%held
PRLB PROTO LABS INCIndustrials0.7%$41.4m1.03m+792%added
ECVT ECOVYST INCBasic Materials0.6%$38.7m4.71m–new
LIBERTY GLOBAL LTD no ticker–0.5%$33.9m3.29m−0.1%held
XPER XPERI INCTechnology0.5%$32.8m4.14m0.0%held
GEO GEO GROUP INCIndustrials0.5%$29.9m1.25m+85%added
MATV MATIV HOLDINGS INCBasic Materials0.4%$27.2m3.98m−0.4%held
CMPR CIMPRESS PLCIndustrials0.4%$26.4m561,429–new
IAS INTEGRAL AD SCIENCE HLDNG COCommunication Services0.4%$24.7m2.97m−6.2%reduced
MGTX MEIRAGTX HLDGS PLCHealthcare0.4%$24.3m3.73m+110%added
SPRY ARS PHARMACEUTICALS INCHealthcare0.4%$22.6m1.29m+26%added
SUPN SUPERNUS PHARMACEUTICALSHealthcare0.4%$21.9m695,039–new
TSAT TELESAT CORPTechnology0.3%$20.6m843,781−1.8%reduced
CEG CONSTELLATION ENERGY CORPUtilities0.3%$17.6m54,507–new
SCPH SCPHARMACEUTICALS INC–0.3%$17.5m4.60m−3.6%reduced

Exited since Q1 2025

9 rows
FLG FLAGSTAR BANK NATIONAL ASSOC1.3%$74.7m
DOLE DOLE PLC1.1%$60.0m
WBA WALGREENS BOOTS ALLIANCE INC1.0%$55.9m
MD PEDIATRIX MEDICAL GROUP INC0.8%$45.4m
PLAB PHOTRONICS INC0.7%$38.7m
SIMO SILICON MOTION TECHNOLOGY CO0.6%$35.4m
FNAUSD PARAGON 28 INC0.4%$24.5m
OABI OMNIAB INC0.1%$6.8m
HOWL WEREWOLF THERAPEUTICS INC0.02%$1.3m

Sector mix

  • Healthcare31.1%
  • Utilities29.4%
  • Unclassified15.2%
  • Energy8.3%
  • Industrials5.4%
  • Financial Services5.0%
  • Technology3.3%
  • Basic Materials1.1%
  • Consumer Cyclical0.7%
  • Communication Services0.4%
  • Real Estate0.2%

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