Rubric Capital Management LP

CIK

1687509

Location

NEW YORK, NY

Portfolio Value

Mid $7,916,924,451

Diversification

Diversified

Filing Date

Global Rank

#488 / 8,622 ▲ 5 · as of Mar 2026

Top Industry

Utilities - Independent Power Producers 22.8%

3Y Alpha vs SPY

-6.5%

Period ended 4 months ago

Filed May 15, 2026 · 2mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+94.0%

SPY

+67.9%

Annualised alpha

+5.9%

Max drawdown

−26.9%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 94% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

79 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

14.5%

−2.0 pts

Top 5

40.3%

−1.3 pts

Top 10

53.9%

−2.5 pts

HHI

472

Diversified−73

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Healthcare	33.0%	$2,610,728,803	33
Utilities	23.5%	$1,858,395,155	5
Industrials	11.6%	$921,669,188	8
Energy	8.1%	$641,437,825	3
Technology	6.1%	$485,355,156	7
Financial Services	5.3%	$422,576,666	3
Consumer Defensive	4.0%	$317,088,942	7
Communication Services	3.2%	$253,642,281	4
Consumer Cyclical	2.7%	$214,291,887	5
Basic Materials	1.9%	$152,137,066	2
Real Estate	0.5%	$39,601,482	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

23 positions

Ticker	Company	Δ Shares	Shares	Value
VTRS	Viatris Inc	+8,000,000	33,500,000	$452,585,000
ABUS	Arbutus Biopharma Corp	+5,051,013	6,626,389	$29,818,750
EPC	EDGEWELL PERSONAL CARE Co	+2,992,929	4,000,000	$85,360,000
BGC	BGC Group, Inc.	+2,300,000	23,300,000	$227,874,000
NWL	Newell Brands Inc.	+2,257,431	15,257,431	$52,332,988
SDGR	Schrodinger, Inc.	+1,828,502	6,000,000	$68,160,000
LILA	Liberty Latin America Ltd.	+1,806,935	3,750,000	$32,400,192
SPRY	ARS Pharmaceuticals, Inc.	+1,800,000	8,000,000	$64,240,000
LBTYA	Liberty Global Ltd.	+1,734,423	11,752,855	$142,092,016
PRTA	Prothena Corp Public Ltd Co	+1,322,669	5,000,000	$48,600,000
ZYME	Zymeworks Inc.	+1,250,000	7,000,000	$175,280,000
GIL	Gildan Activewear Inc.	+1,139,392	1,395,790	$77,675,713
MGTX	MeiraGTx Holdings plc	+824,669	7,000,000	$60,620,000
SSYS	Stratasys Ltd.	+659,974	8,000,000	$62,480,000
CRI	Carters Inc	+558,853	1,018,853	$36,434,183
KNSA	Kiniksa Pharmaceuticals International, plc	+421,347	3,750,000	$180,562,500
GEO	Geo Group Inc	+256,265	3,743,180	$62,922,855
HELE	Helen Of Troy Ltd	+109,289	366,226	$5,280,978
CMPR	CIMPRESS plc	+104,419	1,629,419	$118,947,587
MCY	Mercury General Corp	+100,000	2,154,504	$189,919,527
AKAM	Akamai Technologies Inc	+100,000	1,300,000	$149,305,000
CXW	CoreCivic, Inc.	+97,770	2,059,216	$38,939,774
CEG	Constellation Energy Corp	+45,000	715,000	$199,663,750
No positions match the current search.

Trimmed

Positions the filer reduced

14 positions

Ticker	Company	Δ Shares	Shares	Value
TEVA	Teva Pharmaceutical Industries Ltd	−6,105,510	15,250,000	$459,330,000
ROIV	Roivant Sciences Ltd.	−4,000,000	5,000,000	$138,500,000
MNKD	Mannkind Corp	−3,856,082	3,620,413	$8,870,011
COMP	Compass, Inc.	−3,253,152	3,746,848	$27,389,458
ECVT	Ecovyst Inc.	−1,363,933	9,136,067	$117,489,821
AMRX	Amneal Pharmaceuticals, Inc.	−1,297,352	11,037,589	$137,197,231
FTAI	FTAI Aviation Ltd.	−1,123,814	2,576,186	$631,165,570
PRMB	Primo Brands Corp	−846,411	2,782,404	$52,392,667
PRLB	Proto Labs Inc	−636,938	486,400	$27,734,528
VST	Vistra Corp.	−500,000	1,500,000	$225,495,000
QDEL	QuidelOrtho Corp	−470,876	3,306,281	$54,322,196
COLL	Collegium Pharmaceutical, Inc	−216,825	1,279,611	$42,316,735
ANDE	Andersons, Inc.	−149,812	855,819	$61,430,687
TRVI	Trevi Therapeutics, Inc.	−54,376	3,712,373	$44,288,609
No positions match the current search.

New Positions

Positions the filer opened this quarter

16 positions

Ticker	Company	Shares	Value
ZM	Zoom Communications, Inc.	1,001,006	$80,470,872
AMCR	Amcor plc	1,269,396	$50,458,491
PTGX	Protagonist Therapeutics, Inc	427,998	$45,110,989
DRVN	Driven Brands Holdings Inc.	3,000,000	$37,830,000
CVGW	Calavo Growers Inc	1,416,662	$36,535,712
VISN	Vistance Networks, Inc.	2,000,000	$36,400,000
BMRN	Biomarin Pharmaceutical Inc	440,560	$24,887,234
AVO	Mission Produce, Inc.	1,726,447	$23,755,910
VG	Venture Global, Inc.	1,500,000	$23,640,000
INDV	Indivior Pharmaceuticals, Inc.	662,515	$20,193,457
ADMA	Adma Biologics, Inc.	1,809,408	$16,302,766
DNOW	DNOW Inc.	1,267,527	$15,096,246
ARDX	Ardelyx, Inc.	1,860,896	$11,146,767
AERO	Grupo Aeromexico, S.A.B. de C.V.	467,129	$6,544,477
EPRX	Eupraxia Pharmaceuticals Inc.	691,170	$5,004,070
PFSI	PennyMac Financial Services, Inc.	54,727	$4,783,139
No positions match the current search.

Sold Out

Positions the filer fully exited

9 positions

Ticker	Company	Shares	Value
FLR	Fluor Corp	4,143,808	$164,219,111
EOSE	Eos Energy Enterprises, Inc.	6,500,000	$74,490,000
ADM	Archer-Daniels-Midland Co	1,101,583	$63,330,006
BG	Bunge Global SA	676,510	$60,263,510
GPK	Graphic Packaging Holding Co	2,000,000	$30,120,000
NFE	New Fortress Energy Inc.	23,701,399	$27,019,594
DAR	Darling Ingredients Inc.	680,827	$24,509,772
SW	Smurfit Westrock plc	400,000	$15,468,000
STUB	StubHub Holdings, Inc.	784,854	$10,619,074
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

79 positions · $7,916,924,451 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 79 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
TLN	Talen Energy Corp Utilities	Held	3,602,171	0	$1,149,921,048	−14.8%	14.52%
FTAI	FTAI Aviation Ltd. Industrials	Reduced	2,576,186	-1,123,814	$631,165,570	−13.3%	7.97%
GLNG	Golar Lng Ltd Energy	Held	9,178,978	0	$496,674,499	+45.4%	6.27%
TEVA	Teva Pharmaceutical Industries Ltd Healthcare	Reduced	15,250,000	-6,105,510	$459,330,000	−31.1%	5.80%
VTRS	Viatris Inc Healthcare	Added	33,500,000	+8,000,000	$452,585,000	+42.6%	5.72%
TAC	Transalta Corp Utilities	Held	17,781,325	0	$232,935,357	+3.6%	2.94%
BGC	BGC Group, Inc. Financial Services	Added	23,300,000	+2,300,000	$227,874,000	+21.5%	2.88%
VST	Vistra Corp. Utilities	Reduced	1,500,000	-500,000	$225,495,000	−30.1%	2.85%
CEG	Constellation Energy Corp Utilities	Added	715,000	+45,000	$199,663,750	−15.6%	2.52%
ARQT	Arcutis Biotherapeutics, Inc. Healthcare	Held	8,271,577	0	$194,878,354	−18.9%	2.46%
MCY	Mercury General Corp Financial Services	Added	2,154,504	+100,000	$189,919,527	−1.7%	2.40%
KNSA	Kiniksa Pharmaceuticals International, plc Healthcare	Added	3,750,000	+421,347	$180,562,500	+31.5%	2.28%
ZYME	Zymeworks Inc. Healthcare	Added	7,000,000	+1,250,000	$175,280,000	+15.8%	2.21%
AKAM	Akamai Technologies Inc Technology	Added	1,300,000	+100,000	$149,305,000	+42.6%	1.89%
LBTYA	Liberty Global Ltd. Communication Services	Added	11,752,855	+1,734,423	$142,092,016	+27.3%	1.79%
ROIV	Roivant Sciences Ltd. Healthcare	Reduced	5,000,000	-4,000,000	$138,500,000	−29.1%	1.75%
AMRX	Amneal Pharmaceuticals, Inc. Healthcare	Reduced	11,037,589	-1,297,352	$137,197,231	−11.7%	1.73%
DK	Delek US Holdings, Inc. Energy	Held	2,687,449	0	$121,123,326	+52.0%	1.53%
CMPR	CIMPRESS plc Industrials	Added	1,629,419	+104,419	$118,947,587	+17.1%	1.50%
ECVT	Ecovyst Inc. Basic Materials	Reduced	9,136,067	-1,363,933	$117,489,821	+15.0%	1.48%
ADEA	Adeia Inc. Technology	Held	4,284,205	0	$102,949,446	+39.3%	1.30%
EPC	EDGEWELL PERSONAL CARE Co Consumer Defensive	Added	4,000,000	+2,992,929	$85,360,000	+397.1%	1.08%
ZM	Zoom Communications, Inc. Technology	NEW	1,001,006	NEW	$80,470,872	NEW	1.02%
TDS	Telephone & Data Systems Inc /De/ Communication Services	Held	1,850,000	0	$77,885,000	+2.7%	0.98%
GIL	Gildan Activewear Inc. Consumer Cyclical	Added	1,395,790	+1,139,392	$77,675,713	+385.0%	0.98%
IART	Integra Lifesciences Holdings Corp Healthcare	Held	7,753,934	0	$73,042,058	−24.2%	0.92%
SDGR	Schrodinger, Inc. Healthcare	Added	6,000,000	+1,828,502	$68,160,000	−8.6%	0.86%
SPRY	ARS Pharmaceuticals, Inc. Healthcare	Added	8,000,000	+1,800,000	$64,240,000	−11.1%	0.81%
GEO	Geo Group Inc Industrials	Added	3,743,180	+256,265	$62,922,855	+11.9%	0.79%
SSYS	Stratasys Ltd. Technology	Added	8,000,000	+659,974	$62,480,000	−1.9%	0.79%
ANDE	Andersons, Inc. Consumer Defensive	Reduced	855,819	-149,812	$61,430,687	+14.9%	0.78%
MGTX	MeiraGTx Holdings plc Healthcare	Added	7,000,000	+824,669	$60,620,000	+23.5%	0.77%
ENOV	Enovis CORP Healthcare	Held	2,453,265	0	$55,811,778	−14.6%	0.70%
OPK	Opko Health, Inc. Healthcare	Held	47,791,243	0	$54,482,017	−9.5%	0.69%
QDEL	QuidelOrtho Corp Healthcare	Reduced	3,306,281	-470,876	$54,322,196	−49.6%	0.69%
PRMB	Primo Brands Corp Consumer Defensive	Reduced	2,782,404	-846,411	$52,392,667	−11.7%	0.66%
NWL	Newell Brands Inc. Consumer Defensive	Added	15,257,431	+2,257,431	$52,332,988	+8.2%	0.66%
AMCR	Amcor plc Consumer Cyclical	NEW	1,269,396	NEW	$50,458,491	NEW	0.64%
RNW	ReNew Energy Global plc Utilities	Held	11,000,000	0	$50,380,000	−18.9%	0.64%
PRTA	Prothena Corp Public Ltd Co Healthcare	Added	5,000,000	+1,322,669	$48,600,000	+38.4%	0.61%
PTGX	Protagonist Therapeutics, Inc Healthcare	NEW	427,998	NEW	$45,110,989	NEW	0.57%
TRVI	Trevi Therapeutics, Inc. Healthcare	Reduced	3,712,373	-3,821,125	$44,288,609	−53.0%	0.56%
OFIX	Orthofix Medical Inc. Healthcare	Held	3,721,715	0	$42,688,071	−24.3%	0.54%
COLL	Collegium Pharmaceutical, Inc Healthcare	Reduced	1,279,611	-216,825	$42,316,735	−38.9%	0.53%
CXW	CoreCivic, Inc. Industrials	Added	2,059,216	+97,770	$38,939,774	+3.9%	0.49%
NRIX	Nurix Therapeutics, Inc. Healthcare	Held	2,473,885	0	$38,345,217	−18.3%	0.48%
DRVN	Driven Brands Holdings Inc. Consumer Cyclical	NEW	3,000,000	NEW	$37,830,000	NEW	0.48%
CVGW	Calavo Growers Inc Consumer Defensive	NEW	1,416,662	NEW	$36,535,712	NEW	0.46%
CRI	Carters Inc Consumer Cyclical	Added	1,018,853	+558,853	$36,434,183	+144.2%	0.46%
VISN	Vistance Networks, Inc. Technology	NEW	2,000,000	NEW	$36,400,000	NEW	0.46%