Rubric Capital Management LP
Long book
$8.16B
Q1 2026
Positions
81
Top-10 weight
52%
concentration
Last quarter
+13.9%
SPY +14.8%
Turnover
29%
of book per quarter
Strategy in plain words
auto-generated from filingsRubric Capital Management LP is a diversified fundamental manager, running a $8.16B US long book across 81 positions.
The portfolio is concentrated: the top 10 names carry 52% of the portfolio. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: TALEN ENERGY CORP, FTAI AVIATION LTD, GOLAR LNG LTD, TEVA PHARMACEUTICAL-SP ADR, VIATRIS INC.
Over the last 9 quarters its long book ran on average 2.6pp per quarter ahead of the S&P 500, beating the index in 6 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-1.6%
Q2 2024
+11.4%
Q3 2024
+9.4%
Q4 2024
-10.7%
Q1 2025
+12.8%
Q2 2025
+22.6%
Q3 2025
+5.3%
Q4 2025
+1.1%
Q1 2026
+13.9%
Sector allocation
Healthcare 27%
Utilities 25%
Services media 11%
Communications 8%
Industrials 8%
Other 6%
Financials 6%
Technology 3%
Long book by quarter
What does Rubric Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| TLN TALEN ENERGY CORP | Utilities | 3.6M | $1.15B | 14.1% | Held |
| FTAI FTAI AVIATION LTD | Services media | 2.6M | $631.2M | 7.7% | -30.4% |
| GLNG GOLAR LNG LTD | Industrials | 9.2M | $496.7M | 6.1% | Held |
| VTRS VIATRIS INC | Healthcare | 33.5M | $452.6M | 5.5% | +31.4% |
| TAC TRANSALTA CORP | Utilities | 17.8M | $232.9M | 2.9% | Held |
| BGC BGC GROUP INC-A | Financials | 23.3M | $227.9M | 2.8% | +11.0% |
| VST VISTRA CORP | Utilities | 1.5M | $225.5M | 2.8% | -25.0% |
| CEG CONSTELLATION ENERGY | Utilities | 715.0K | $199.7M | 2.4% | +6.7% |
| ARQT ARCUTIS BIOTHERAPEUTICS INC | Healthcare | 8.3M | $194.9M | 2.4% | Held |
| MCY MERCURY GENERAL CORP | Financials | 2.2M | $189.9M | 2.3% | +4.9% |
| KNSA KINIKSA PHARMACEUTICALS INTE | Healthcare | 3.8M | $180.6M | 2.2% | +12.7% |
| ZYME ZYMEWORKS INC | Healthcare | 7.0M | $175.3M | 2.1% | +21.7% |
| AKAM AKAMAI TECHNOLOGIES INC | Services media | 1.3M | $149.3M | 1.8% | +8.3% |
| LBTYA LIBERTY GLOBAL LTD-A | Communications | 11.8M | $142.1M | 1.7% | +17.3% |
| ROIV ROIVANT SCIENCES LTD | Healthcare | 5.0M | $138.5M | 1.7% | -44.4% |
| AMRX AMNEAL PHARMACEUTICALS INC | Healthcare | 11.0M | $137.2M | 1.7% | -10.5% |
| LILAK LIBERTY LATIN AMERIC-CL C | Communications | 15.4M | $135.8M | 1.7% | +44.5% |
| DK DELEK US HOLDINGS INC | Energy | 2.7M | $121.1M | 1.5% | Held |
| CMPR CIMPRESS PLC | Other | 1.6M | $118.9M | 1.5% | +6.8% |
| ECVT ECOVYST INC | Materials | 9.1M | $117.5M | 1.4% | -13.0% |
| LBTYK LIBERTY GLOBAL LTD-C | Communications | 9.3M | $108.6M | 1.3% | +51.3% |
| ADEA ADEIA INC | Communications | 4.3M | $102.9M | 1.3% | Held |
| EPC EDGEWELL PERSONAL CARE CO | Other | 4.0M | $85.4M | 1.0% | +297.2% |
| ZM ZOOM COMMUNICATIONS INC | Technology | 1.0M | $80.5M | 1.0% | New |
| TDS TELEPHONE AND DATA SYSTEMS | Communications | 1.9M | $77.9M | 1.0% | Held |
| GIL GILDAN ACTIVEWEAR INC | Other | 1.4M | $77.7M | 1.0% | +444.4% |
| IART INTEGRA LIFESCIENCES HOLDING | Healthcare | 7.8M | $73.0M | 0.9% | Held |
| SDGR SCHRODINGER INC | Healthcare | 6.0M | $68.2M | 0.8% | +43.8% |
| SPRY ARS PHARMACEUTICALS INC | Healthcare | 8.0M | $64.2M | 0.8% | +29.0% |
| GEO GEO GROUP INC/THE | Industrials | 3.7M | $62.9M | 0.8% | +7.3% |
| SSYS STRATASYS LTD | Technology | 8.0M | $62.5M | 0.8% | +9.0% |
| ANDE ANDERSONS INC/THE | Consumer discretionary | 855.8K | $61.4M | 0.8% | -14.9% |
| MGTX MEIRAGTX HOLDINGS PLC | Healthcare | 7.0M | $60.6M | 0.7% | +13.4% |
| ENOV ENOVIS CORP | Healthcare | 2.5M | $55.8M | 0.7% | Held |
| OPK OPKO HEALTH INC | Healthcare | 47.8M | $54.5M | 0.7% | Held |
| QDEL QUIDELORTHO CORP | Materials | 3.3M | $54.3M | 0.7% | -12.5% |
| PRMB PRIMO BRANDS CORP | Consumer staples | 2.8M | $52.4M | 0.6% | -23.3% |
| NWL NEWELL BRANDS INC | Other | 15.3M | $52.3M | 0.6% | +17.4% |
| AMCR AMCOR PLC | Other | 1.3M | $50.5M | 0.6% | New |
| RNW RENEW ENERGY GLOBAL PLC-A | Utilities | 11.0M | $50.4M | 0.6% | Held |
| PRTA PROTHENA CORP PLC | Healthcare | 5.0M | $48.6M | 0.6% | +36.0% |
| PTGX PROTAGONIST THERAPEUTICS INC | Healthcare | 428.0K | $45.1M | 0.6% | New |
| TRVI TREVI THERAPEUTICS INC | Healthcare | 3.7M | $44.3M | 0.5% | -1.4% |
| OFIX ORTHOFIX MEDICAL INC | Healthcare | 3.7M | $42.7M | 0.5% | Held |
| COLL COLLEGIUM PHARMACEUTICAL INC | Healthcare | 1.3M | $42.3M | 0.5% | -14.5% |
| CXW CORECIVIC INC | Real estate | 2.1M | $38.9M | 0.5% | +5.0% |
| NRIX NURIX THERAPEUTICS INC | Healthcare | 2.5M | $38.3M | 0.5% | Held |
| DRVN DRIVEN BRANDS HOLDINGS INC | Services media | 3.0M | $37.8M | 0.5% | New |
| CRI CARTER'S INC | Other | 1.0M | $36.4M | 0.4% | +121.5% |
| VISN VISTANCE NETWORKS INC | Technology | 2.0M | $36.4M | 0.4% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 83 | $9.44B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 76 | $8.36B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 72 | $8.86B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 66 | $6.62B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 65 | $5.58B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 69 | $7.79B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 13, 2024 | 65 | $6.14B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 13, 2024 | 68 | $3.81B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 10, 2024 | 68 | $3.38B | canonical | SEC ↗ |
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