Rubric Capital Management LP

All Holdings — 2025 Q4

AI Portfolio Summary
In 2025 Q4, Rubric Capital Management LP maintained a portfolio of 88 distinct positions. The most significant new addition to the portfolio was VISTRA CORP, which now represents 3.86% of the total fund value. They heavily accumulated shares in FTAI AVIATION LTD, increasing their position by 10.1%. Conversely, Rubric Capital Management LP completely exited their position in SPDR S&P 500 ETF TR.
PCA Score Concentration Risk
Risk ENB
Total Positions
88
Quarter
2025 Q4
Top Holding
TLN (16.1%)
Top 10 Concentration
55.3%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
1-25 of 88
Stock History Sector / Type Port % Prev % Rank / Prev Conviction Change % Change Influence Shares Mkt Value Avg Cost Price Held 1st Owned Source Source Date Date Reported
TLN
TALEN ENERGY CO...
Utilities 16.15% 17.29% #1
Prev: #1
7.0 no change no change
P
S
3,602,171 $1,350,237,778 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
FTAI
FTAI AVIATION L...
Industrials 8.71% 6.33% #2 1
Prev: #3
7.0 339,447 10.1%
P
S
3,700,000 $728,345,000 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
TEVA
TEVA PHARMACEUT...
Healthcare 7.97% 5.62% #3 1
Prev: #4
4.7 -3,294,490 -13.4%
P
S
21,355,510 $666,505,467 2018 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
GLNG
GOLAR LNG LTD
Energy 4.08% 4.19% #4 2
Prev: #6
3.1 no change no change
P
S
9,178,978 $341,549,771 2021 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
VST
VISTRA CORP
Utilities 3.86% #5
Prev: #—
5.5 2,000,000 no change
NEW
2,000,000 $322,660,000 2023 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
VTRS
VIATRIS INC
Healthcare 3.80% 1.72% #6 8
Prev: #14
4.5 10,115,000 65.7%
P
S
25,500,000 $317,475,000 2023 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
ARQT
ARCUTIS BIOTHER...
Healthcare 2.87% 2.29% #7 2
Prev: #9
1.1 -2,477,880 -23.1%
P
S
8,271,577 $240,206,596 2022 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
CEG
CONSTELLATION E...
Utilities 2.83% #8
Prev: #—
4.6 670,000 no change
NEW
670,000 $236,690,900 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
TAC
TRANSALTA CORP
Utilities 2.69% 2.46% #9 1
Prev: #8
3.1 1,832,874 11.5%
P
S
17,781,325 $224,755,948 2021 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
ROIV
ROIVANT SCIENCE...
Healthcare 2.34% 3.41% #10 3
Prev: #7
0.9 -11,000,000 -55.0%
P
S
9,000,000 $195,300,000 2022 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
MCY
MERCURY GENL CO...
Financial Services 2.31% 1.97% #11
Prev: #11
1.9 no change no change
P
S
2,054,504 $193,246,646 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
BGC
BGC GROUP INC
Financial Services 2.24% 1.92% #12
Prev: #12
2.9 3,000,000 16.7%
P
S
21,000,000 $187,530,000 2023 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
FLR
FLUOR CORP NEW
Industrials 1.96% 2.14% #13 3
Prev: #10
1.3 -356,192 -7.9%
P
S
4,143,808 $164,219,111 2021 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
AMRX
AMNEAL PHARMACE...
Healthcare 1.86% 1.39% #14 2
Prev: #16
1.7 no change no change
P
S
12,334,941 $155,420,257 2023 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
ZYME
ZYMEWORKS INC
Healthcare 1.81% 0.91% #15 14
Prev: #29
3.2 1,039,449 22.1%
P
S
5,750,000 $151,397,500 2022 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
KNSA
KINIKSA PHARMAC...
Healthcare 1.64% 1.75% #16 3
Prev: #13
1.2 -671,347 -16.8%
P
S
3,328,653 $137,306,936 2024 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
LBTYA
LIBERTY GLOBAL ...
Communication Services 1.33% 1.00% #17 6
Prev: #23
3.0 2,268,065 29.3%
P
S
10,018,432 $111,605,332 2023 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
QDEL
QUIDELORTHO COR...
Healthcare 1.29% 1.54% #18 3
Prev: #15
1.0 -860,581 -18.6%
P
S
3,777,157 $107,875,604 2023 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
AKAM
AKAMAI TECHNOLO...
Technology 1.25% #19
Prev: #—
4.0 1,200,000 no change
NEW
1,200,000 $104,700,000 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
ECVT
ECOVYST INC
Basic Materials 1.22% 1.03% #20 2
Prev: #22
1.0 100,000 1.0%
P
S
10,500,000 $102,165,000 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
CMPR
CIMPRESS PLC
Industrials 1.21% 0.84% #21 10
Prev: #31
3.0 344,211 29.2%
P
S
1,525,000 $101,549,750 2022 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
IART
INTEGRA LIFESCI...
Healthcare 1.15% 1.24% #22 3
Prev: #19
1.0 100,000 1.3%
P
S
7,753,934 $96,303,860 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
DK
DELEK US HLDGS ...
Energy 0.95% 0.98% #23 2
Prev: #25
1.4 no change no change
P
S
2,687,449 $79,709,737 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
LILAK
LIBERTY LATIN A...
Communication Services 0.95% 0.98% #24 2
Prev: #26
0.9 400,000 3.9%
P
S
10,656,935 $79,500,735 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
TDS
TELEPHONE & DAT...
Communication Services 0.91% 0.71% #25 10
Prev: #35
2.4 250,000 15.6%
P
S
1,850,000 $75,850,000 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
SPY
SPDR S&P 500 ET...
PUT
PUT Option 0.00% 10.52%
Sold All 😨
(Was: #2)
0.0 -1,400,000 -100.0%
CLOSED
$— 2016 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
IWM
ISHARES TR
PUT
PUT Option 0.00% 5.46%
Sold All 😨
(Was: #5)
0.0 -2,000,000 -100.0%
CLOSED
$— 2017 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
BAX
BAXTER INTL INC
Healthcare 0.00% 0.97%
Sold All 😨
(Was: #27)
0.0 -3,774,889 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
ALIT
ALIGHT INC
Technology 0.00% 0.42%
Sold All 😨
(Was: #45)
0.0 -11,398,583 -100.0%
CLOSED
$— 2024 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
ANIP
ANI PHARMACEUTI...
Healthcare 0.00% 0.35%
Sold All 😨
(Was: #48)
0.0 -343,414 -100.0%
CLOSED
$— 2021 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
SCPH
SCPHARMACEUTICA...
Unknown 0.00% 0.33%
Sold All 😨
(Was: #50)
0.0 -5,101,886 -100.0%
CLOSED
$— 2023 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
SUPN
SUPERNUS PHARMA...
Healthcare 0.00% 0.32%
Sold All 😨
(Was: #51)
0.0 -595,366 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
TTI
TETRA TECHNOLOG...
Industrials 0.00% 0.29%
Sold All 😨
(Was: #55)
0.0 -4,529,783 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
CNNE
CANNAE HLDGS IN...
Consumer Cyclical 0.00% 0.27%
Sold All 😨
(Was: #56)
0.0 -1,319,589 -100.0%
CLOSED
$— 2023 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
DAWN
DAY ONE BIOPHAR...
Healthcare 0.00% 0.27%
Sold All 😨
(Was: #57)
0.0 -3,377,071 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
MHK
MOHAWK INDS INC
Consumer Cyclical 0.00% 0.12%
Sold All 😨
(Was: #65)
0.0 -85,726 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
THS
TREEHOUSE FOODS...
Consumer Defensive 0.00% 0.02%
Sold All 😨
(Was: #71)
0.0 -70,372 -100.0%
CLOSED
$— 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
Showing 1-25 of 88 holdings

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