Rubric Capital Management LP's Q1 2026 13F: 16 new positions, 10 exits
Form 13F-HR for the quarter ended Mar 31, 2026 · filed May 15, 2026 · 81 reported positions · accession 0001104659-26-062466
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | FTAI AVIATION LTD (FTAI) | 8.7% | 7.7% | −1.0 pts | −1.12M sh | −30% |
| Reduced | TEVA PHARMACEUTICAL INDS LTD (TEVA) | 8.0% | 5.6% | −2.3 pts | −6.11M sh | −29% |
| Exited | FLUOR CORP NEW (FLR) | 2.0% | — | −2.0 pts | −4.14M sh | −100% |
| Reduced | ROIVANT SCIENCES LTD (ROIV) | 2.3% | 1.7% | −0.6 pts | −4M sh | −44% |
| Increased | VIATRIS INC (VTRS) | 3.8% | 5.5% | +1.7 pts | +8M sh | +31% |
| New | ZOOM COMMUNICATIONS INC (ZM) | — | 1.0% | +1.0 pts | +1M sh | new |
| Reduced | VISTRA CORP (VST) | 3.9% | 2.8% | −1.1 pts | −500K sh | −25% |
| Exited | EOS ENERGY ENTERPRISES INC (EOSE) | 0.9% | — | −0.9 pts | −6.5M sh | −100% |
| Increased | EDGEWELL PERSONAL CARE CO (EPC) | 0.2% | 1.0% | +0.8 pts | +2.99M sh | +297% |
| Increased | GILDAN ACTIVEWEAR INC (GIL) | 0.2% | 1.0% | +0.8 pts | +1.14M sh | +444% |
| Exited | ARCHER DANIELS MIDLAND CO (ADM) | 0.8% | — | −0.8 pts | −1.1M sh | −100% |
| Exited | BUNGE GLOBAL SA (BG) | 0.7% | — | −0.7 pts | −677K sh | −100% |
| New | AMCOR PLC (AMCRZZZZ) | — | 0.6% | +0.6 pts | +1.27M sh | new |
| New | PROTAGONIST THERAPEUTICS INC (PTGX) | — | 0.6% | +0.6 pts | +428K sh | new |
| Increased | LIBERTY LATIN AMERICA LTD (LILAK) | 1.0% | 1.7% | +0.7 pts | +4.74M sh | +44% |
| New | DRIVEN BRANDS HLDGS INC (DRVN) | — | 0.5% | +0.5 pts | +3M sh | new |
| Increased | LIBERTY GLOBAL LTD (LBTYK) | 0.8% | 1.3% | +0.5 pts | +3.14M sh | +51% |
| New | CALAVO GROWERS INC (CVGW) | — | 0.4% | +0.4 pts | +1.42M sh | new |
| New | VISTANCE NETWORKS INC (VISN) | — | 0.4% | +0.4 pts | +2M sh | new |
| Reduced | PROTO LABS INC (PRLB) | 0.7% | 0.3% | −0.3 pts | −637K sh | −57% |
| Increased | ZYMEWORKS INC (ZYME) | 1.8% | 2.1% | +0.3 pts | +1.25M sh | +22% |
| Exited | GRAPHIC PACKAGING HLDG CO (GPK) | 0.4% | — | −0.4 pts | −2M sh | −100% |
| Exited | NEW FORTRESS ENERGY INC (NFE) | 0.3% | — | −0.3 pts | −23.7M sh | −100% |
| New | BIOMARIN PHARMACEUTICAL INC (BMRN) | — | 0.3% | +0.3 pts | +441K sh | new |
| Exited | DARLING INGREDIENTS INC (DAR) | 0.3% | — | −0.3 pts | −681K sh | −100% |
| Reduced | COMPASS INC (COMP) | 0.9% | 0.3% | −0.5 pts | −3.25M sh | −46% |
| New | MISSION PRODUCE INC (AVO) | — | 0.3% | +0.3 pts | +1.73M sh | new |
| New | VENTURE GLOBAL INC (VG) | — | 0.3% | +0.3 pts | +1.5M sh | new |
| Increased | ARBUTUS BIOPHARMA CORP (ABUS) | 0.1% | 0.4% | +0.3 pts | +5.05M sh | +321% |
| Increased | BGC GROUP INC (BGC) | 2.2% | 2.8% | +0.5 pts | +2.3M sh | +11% |
| Increased | LIBERTY GLOBAL LTD (LBTYA) | 1.3% | 1.7% | +0.4 pts | +1.73M sh | +17% |
| Increased | SCHRODINGER INC (SDGR) | 0.9% | 0.8% | −0.1 pts | +1.83M sh | +44% |
| Increased | KINIKSA PHARMACEUTICALS INTL (KNSA) | 1.6% | 2.2% | +0.6 pts | +421K sh | +13% |
| New | INDIVIOR PHARMACEUTICALS INC (INDVZZZZ) | — | 0.2% | +0.2 pts | +663K sh | new |
| Increased | CARTERS INC (CRI) | 0.2% | 0.4% | +0.3 pts | +559K sh | +121% |
| Reduced | ECOVYST INC (ECVT) | 1.2% | 1.4% | +0.2 pts | −1.36M sh | −13% |
| Exited | INDIVIOR PLC (INDV) | 0.2% | — | −0.2 pts | −499K sh | −100% |
| New | ADMA BIOLOGICS INC (ADMA) | — | 0.2% | +0.2 pts | +1.81M sh | new |
| Reduced | AMNEAL PHARMACEUTICALS INC (AMRX) | 1.9% | 1.7% | −0.2 pts | −1.3M sh | −11% |
| Reduced | PRIMO BRANDS CORPORATION (PRMB) | 0.7% | 0.6% | −0.1 pts | −846K sh | −23% |
| Increased | LIBERTY LATIN AMERICA LTD (LILA) | 0.2% | 0.4% | +0.2 pts | +1.81M sh | +93% |
| Exited | SMURFIT WESTROCK PLC (SW) | 0.2% | — | −0.2 pts | −400K sh | −100% |
| New | DNOW INC (DNOW) | — | 0.2% | +0.2 pts | +1.27M sh | new |
| Increased | ARS PHARMACEUTICALS INC (SPRY) | 0.9% | 0.8% | −0.1 pts | +1.8M sh | +29% |
| Increased | PROTHENA CORP PLC (PRTA) | 0.4% | 0.6% | +0.2 pts | +1.32M sh | +36% |
| Increased | CONSTELLATION ENERGY CORP (CEG) | 2.8% | 2.4% | −0.4 pts | +45,000 sh | +7% |
| Increased | AKAMAI TECHNOLOGIES INC (AKAM) | 1.3% | 1.8% | +0.6 pts | +100K sh | +8% |
| New | ARDELYX INC (ARDX) | — | 0.1% | +0.1 pts | +1.86M sh | new |
| Reduced | ANDERSONS INC (ANDE) | 0.6% | 0.8% | +0.1 pts | −150K sh | −15% |
| Exited | STUBHUB HLDGS INC (STUB) | 0.1% | — | −0.1 pts | −785K sh | −100% |
The 50 largest of 65 changes, by size of the trade. Full holdings for this quarter.
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 52.3% of the equity book
Changes in the top 10 this quarter: BGC entered · ROIV left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | TALEN ENERGY CORP (TLN) | 16.2% | 14.1% | |
| 2 | FTAI AVIATION LTD (FTAI) | 8.7% | 7.7% | |
| 3 | GOLAR LNG LTD (GLNG) | 4.1% | 6.1% | |
| 4 | TEVA PHARMACEUTICAL INDS LTD (TEVA) | 8.0% | 5.6% | |
| 5 | VIATRIS INC (VTRS) | 3.8% | 5.5% | |
| 6 | TRANSALTA CORP (TAC) | 2.7% | 2.9% | |
| 7 | BGC GROUP INC (BGC) | 2.2% | 2.8% | Entered the top 10 |
| 8 | VISTRA CORP (VST) | 3.9% | 2.8% | |
| 9 | CONSTELLATION ENERGY CORP (CEG) | 2.8% | 2.4% | |
| 10 | ARCUTIS BIOTHERAPEUTICS INC (ARQT) | 2.9% | 2.4% | |
| — | ROIVANT SCIENCES LTD (ROIV) | 2.3% | 1.7% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).
Option positions (puts and calls)
Reported separately from the positions above. The value a 13F reports for an option is that of the underlying shares, not the option itself.
| Activity | Security | Type | Shares before | Shares now | Reported value |
|---|---|---|---|---|---|
| New | ISHARES TR (IWM) | Put | 0 | 5.15M | $1.28B |