WhaleCreep

Rubric Capital Management LP 13F holdings, Q4 2025

Hedge fundSEC filingsCompare with another fundHoldings as of 2025-12-31, filed 2026-02-13

Rubric Capital Management LP disclosed 75 US equity positions worth $8.4bn in its Q4 2025 13F filing. Its largest position is TLN at 16.1% of the reported book, followed by FTAI AVIATION LTD and TEVA. Versus Q3 2025 it opened 16 new positions, added to 19, reduced 17 and exited 10.

$8.4bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
75
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
16.1%
Largest position
The largest single position as a share of the reported equity book.
55.3%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
19
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 2025: 16 new, 19 added, 17 reduced, 10 exited

50 of 75
TLN TALEN ENERGY CORPUtilities16.1%$1.4bn3.60m0.0%held
FTAI AVIATION LTD no ticker–8.7%$728m3.70m+10%added
TEVA TEVA PHARMACEUTICAL INDS LTDHealthcare8.0%$667m21.36m−13%reduced
GLNG GOLAR LNG LTDEnergy4.1%$342m9.18m0.0%held
VST VISTRA CORPUtilities3.9%$323m2.00m–new
VTRS VIATRIS INCHealthcare3.8%$317m25.50m+66%added
ARQT ARCUTIS BIOTHERAPEUTICS INCHealthcare2.9%$240m8.27m−23%reduced
CEG CONSTELLATION ENERGY CORPUtilities2.8%$237m670,000–new
TAC TRANSALTA CORPUtilities2.7%$225m17.78m+11%added
ROIV ROIVANT SCIENCES LTDHealthcare2.3%$195m9.00m−55%reduced
MCY MERCURY GENL CORP NEWFinancial Services2.3%$193m2.05m0.0%held
BGC BGC GROUP INCFinancial Services2.2%$188m21.00m+17%added
FLR FLUOR CORPIndustrials2.0%$164m4.14m−7.9%reduced
AMRX AMNEAL PHARMACEUTICALS INCHealthcare1.9%$155m12.33m0.0%held
ZYME ZYMEWORKS INCHealthcare1.8%$151m5.75m+22%added
KINIKSA PHARMACEUTICALS INTL no ticker–1.6%$137m3.33m−17%reduced
LIBERTY GLOBAL LTD no ticker–1.3%$112m10.02m+29%added
QDEL QUIDELORTHO CORPHealthcare1.3%$108m3.78m−19%reduced
AKAM AKAMAI TECHNOLOGIES INCTechnology1.3%$105m1.20m–new
ECVT ECOVYST INCBasic Materials1.2%$102m10.50m+1.0%added
CMPR CIMPRESS PLCIndustrials1.2%$102m1.52m+29%added
IART INTEGRA LIFESCIENCES HLDGS CHealthcare1.2%$96.3m7.75m+1.3%added
LILAB LIBERTY LATIN AMERICA LTDCommunication Services1.1%$93.9m12.60m+5.0%added
DK DELEK US HLDGS INC NEWEnergy1.0%$79.7m2.69m0.0%held
TDS TELEPHONE & DATA SYS INCCommunication Services0.9%$75.8m1.85m+16%added
SDGR SCHRODINGER INCHealthcare0.9%$74.6m4.17m−21%reduced
EOSE EOS ENERGY ENTERPRISES INCIndustrials0.9%$74.5m6.50m−37%reduced
COMP COMPASS INCReal Estate0.9%$74.0m7.00m–new
ADEA ADEIA INCTechnology0.9%$73.9m4.28m0.0%held
SPRY ARS PHARMACEUTICALS INCHealthcare0.9%$72.2m6.20m+38%added
COLL COLLEGIUM PHARMACEUTICAL INCHealthcare0.8%$69.3m1.50m−47%reduced
LIBERTY GLOBAL LTD no ticker–0.8%$67.6m6.12m+35%added
ENOV ENOVIS CORPORATIONHealthcare0.8%$65.4m2.45m−11%reduced
SSYS STRATASYS LTDTechnology0.8%$63.7m7.34m−5.9%reduced
ADM ARCHER DANIELS MIDLAND COConsumer Defensive0.8%$63.3m1.10m–new
RENEW ENERGY GLOBAL PLC no ticker–0.7%$62.1m11.00m−24%reduced
BG BUNGE GLOBAL SAConsumer Defensive0.7%$60.3m676,510+259%added
OPK OPKO HEALTH INCHealthcare0.7%$60.2m47.79m0.0%held
PRMB PRIMO BRANDS CORPORATIONConsumer Defensive0.7%$59.3m3.63m–new
PRLB PROTO LABS INCIndustrials0.7%$56.8m1.12m0.0%held
OFIX ORTHOFIX MED INCHealthcare0.7%$56.4m3.72m0.0%held
GEO GEO GROUP INCIndustrials0.7%$56.2m3.49m+17%added
ANDE ANDERSONS INCConsumer Defensive0.6%$53.5m1.01m–new
MGTX MEIRAGTX HLDGS PLCHealthcare0.6%$49.1m6.18m+66%added
MATV MATIV HOLDINGS INCBasic Materials0.6%$48.4m3.98m0.0%held
NWL NEWELL BRANDS INCConsumer Defensive0.6%$48.4m13.00m0.0%held
TRVI TREVI THERAPEUTICS INCHealthcare0.6%$47.2m3.77m−56%reduced
NRIX NURIX THERAPEUTICS INCHealthcare0.6%$46.9m2.47m–new
MNKD MANNKIND CORPHealthcare0.5%$42.4m7.48m−35%reduced
HRTX HERON THERAPEUTICS INCHealthcare0.5%$39.1m30.05m+3.3%added

Exited since Q3 2025

10 rows
BAX BAXTER INTL INC1.2%$86.0m
ALITEUR ALIGHT INC0.5%$37.2m
ANIP ANI PHARMACEUTICALS INC0.4%$31.5m
SCPH SCPHARMACEUTICALS INC0.4%$28.9m
SUPN SUPERNUS PHARMACEUTICALS0.4%$28.5m
TTI TETRA TECHNOLOGIES INC DEL0.3%$26.0m
CNNE CANNAE HLDGS INC0.3%$24.2m
DAWNGBX DAY ONE BIOPHARMACEUTICALS I0.3%$23.8m
MHK MOHAWK INDS INC0.1%$11.1m
THS TREEHOUSE FOODS INC0.02%$1.4m

Sector mix

  • Healthcare31.4%
  • Utilities25.5%
  • Unclassified13.5%
  • Industrials6.1%
  • Energy5.4%
  • Financial Services4.6%
  • Consumer Defensive4.0%
  • Technology3.5%
  • Communication Services2.2%
  • Basic Materials1.8%
  • Consumer Cyclical1.1%
  • Real Estate1.0%

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