Rubric Capital Management LP

NEW YORK, NY · CIK 1687509 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2016 · limited partnership

Assets managed$9.6bn
Staff15 · 9 in investment roles
Main clients (by assets)Private funds 100%
Private funds3 (1 hedge) · $8.8bn gross assets
Websiterubriccapital.com
Form ADV · 2026-03-30SEC adviser record

Legal entityRUBRIC CAPITAL MANAGEMENT LP (US)

$10.9bn reported value +33.5% vs Q1 2026

87positions

46.4%in top 10

18 new 35 added 10 reduced 13 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	TALEN ENERGY CORP COM TLN	TLN	3,602,171	$1.4bn12.70%	12.70%	Unchanged
2	FTAI AVIATION LTD SHS FTAI	FTAI	3,000,000	$811.6m7.45%	7.45%	Added +423.8k	+423,814 16.4%
3	VIATRIS INC COM VTRS	VTRS	34,168,743	$542.6m4.98%	4.98%	Added +668.7k	+668,743 2.0%
4	TEVA PHARMACEUTICAL INDS LTD SPONSORED ADS SPONSORED ADS		15,575,000	$527.7m4.84%	4.84%	Added +325.0k	+325,000 2.1%
5	GOLAR LNG LTD SHS GLNG	GLNG	9,178,978	$457.5m4.20%	4.20%	Unchanged
6	VISTRA CORP COM VST	VST	1,794,953	$284.7m2.61%	2.61%	Added +295.0k	+294,953 19.7%
7	TRANSALTA CORP COM TAC	TAC	20,232,011	$279.8m2.57%	2.57%	Added +2.5m	+2,450,686 13.8%
8	FLUOR CORP NEW COM FLR	FLR	5,017,248	$262.9m2.41%	2.41%	New
9	KINIKSA PHARMACEUTICALS INTL ORD SHS CL A KNSA	KNSA	3,999,800	$255.8m2.35%	2.35%	Added +249.8k	+249,800 6.7%
10	BGC GROUP INC CL A BGC	BGC	23,800,000	$254.4m2.33%	2.33%	Added +500.0k	+500,000 2.1%
11	ZOOM COMMUNICATIONS INC CL A ZM	ZM	2,766,009	$238.7m2.19%	2.19%	Added +1.8m	+1,765,003 176.3%
12	GILDAN ACTIVEWEAR INC COM GIL	GIL	4,500,000	$232.2m2.13%	2.13%	Added +3.1m	+3,104,210 222.4%
13	ARCUTIS BIOTHERAPEUTICS INC COM ARQT	ARQT	8,271,577	$216.9m1.99%	1.99%	Unchanged
14	AMAZON COM INC COM AMZN	AMZN	900,000	$214.5m1.97%	1.97%	New
15	ROIVANT SCIENCES LTD SHS ROIV	ROIV	6,000,000	$212.3m1.95%	1.95%	Added +1.0m	+1,000,000 20.0%
16	ZYMEWORKS INC COM ZYME	ZYME	7,000,000	$183.0m1.68%	1.68%	Unchanged
17	AMCOR PLC COM NEW AMCR	AMCR	4,162,030	$180.4m1.66%	1.66%	Added +2.9m	+2,892,634 227.9%
18	CIMPRESS PLC SHS EURO CMPR	CMPR	1,750,000	$178.0m1.63%	1.63%	Added +120.6k	+120,581 7.4%
19	AMNEAL PHARMACEUTICALS INC COM STK CL A AMRX	AMRX	10,168,660	$176.0m1.61%	1.61%	Reduced -868.9k	-868,929 -7.9%
20	NURIX THERAPEUTICS INC COM NRIX	NRIX	7,227,778	$175.3m1.61%	1.61%	Added +4.8m	+4,753,893 192.2%
21	MERCURY GENL CORP NEW COM MCY	MCY	1,541,440	$164.3m1.51%	1.51%	Reduced -613.1k	-613,064 -28.4%
22	PENNYMAC FINL SVCS INC NEW COM PFSI	PFSI	1,700,000	$148.1m1.36%	1.36%	Added +1.6m	+1,645,273 3006.3%
23	INTEGRA LIFESCIENCES HLDGS C COM NEW IART	IART	7,753,934	$139.3m1.28%	1.28%	Unchanged
24	DELEK US HLDGS INC NEW COM DK	DK	2,687,449	$136.5m1.25%	1.25%	Unchanged
25	LIBERTY GLOBAL LTD COM CL A LBTYA	LBTYA	11,752,855	$133.6m1.23%	1.23%	Unchanged
26	MEIRAGTX HLDGS PLC COM MGTX	MGTX	9,100,000	$122.9m1.13%	1.13%	Added +2.1m	+2,100,000 30.0%
27	GEO GROUP INC NEW COM GEO	GEO	4,131,219	$122.1m1.12%	1.12%	Added +388.0k	+388,039 10.4%
28	LIBERTY LATIN AMERICA LTD COM CL C LILAK	LILAK	15,645,430	$121.9m1.12%	1.12%	Added +250.0k	+250,000 1.6%
29	SCHRODINGER INC COM SDGR	SDGR	6,400,000	$104.0m0.95%	0.95%	Added +400.0k	+400,000 6.7%
30	ECOVYST INC COM ECVT	ECVT	8,211,888	$102.2m0.94%	0.94%	Reduced -924.2k	-924,179 -10.1%
31	LIBERTY GLOBAL LTD COM CL C LBTYK	LBTYK	9,259,361	$101.9m0.93%	0.93%	Unchanged
32	COMPASS INC CL A COMP	COMP	8,218,394	$101.3m0.93%	0.93%	Added +4.5m	+4,471,546 119.3%
33	NEWELL BRANDS INC COM NWL	NWL	16,000,000	$98.2m0.90%	0.90%	Added +742.6k	+742,569 4.9%
34	EDGEWELL PERS CARE CO COM EPC	EPC	3,544,465	$95.2m0.87%	0.87%	Reduced -455.5k	-455,535 -11.4%
35	CORECIVIC INC COM CXW	CXW	2,847,436	$86.5m0.79%	0.79%	Added +788.2k	+788,220 38.3%
36	ARDELYX INC COM ARDX	ARDX	16,202,700	$82.6m0.76%	0.76%	Added +14.3m	+14,341,804 770.7%
37	ENOVIS CORPORATION COM ENOV	ENOV	3,900,000	$80.7m0.74%	0.74%	Added +1.4m	+1,446,735 59.0%
38	ADMA BIOLOGICS INC COM ADMA	ADMA	9,339,414	$78.2m0.72%	0.72%	Added +7.5m	+7,530,006 416.2%
39	MANNKIND CORP COM NEW MNKD	MNKD	18,000,000	$76.7m0.70%	0.70%	Added +14.4m	+14,379,587 397.2%
40	DRIVEN BRANDS HLDGS INC COM DRVN	DRVN	5,300,613	$73.9m0.68%	0.68%	Added +2.3m	+2,300,613 76.7%
41	OPKO HEALTH INC COM OPK	OPK	47,791,243	$71.7m0.66%	0.66%	Unchanged
42	MISSION PRODUCE INC COM AVO	AVO	5,981,953	$70.5m0.65%	0.65%	Added +4.3m	+4,255,506 246.5%
43	ADEIA INC COM ADEA	ADEA	2,126,633	$70.0m0.64%	0.64%	Reduced -2.2m	-2,157,572 -50.4%
44	RENEW ENERGY GLOBAL PLC CL A SHS RNW	RNW	11,000,000	$68.8m0.63%	0.63%	Unchanged
45	STRATASYS LTD SHS SSYS	SSYS	8,000,000	$68.5m0.63%	0.63%	Unchanged
46	ARS PHARMACEUTICALS INC COM SPRY	SPRY	8,540,861	$68.4m0.63%	0.63%	Added +540.9k	+540,861 6.8%
47	ANDERSONS INC COM ANDE	ANDE	999,559	$68.4m0.63%	0.63%	Added +143.7k	+143,740 16.8%
48	PRIMO BRANDS CORPORATION CLASS A COM SHS PRMB	PRMB	2,672,231	$65.3m0.60%	0.60%	Reduced -110.2k	-110,173 -4.0%
49	SONOCO PRODS CO COM SON	SON	1,143,562	$64.4m0.59%	0.59%	New
50	STUBHUB HLDGS INC CL A STUB	STUB	5,000,000	$64.3m0.59%	0.59%	New
51	GALAXY DIGITAL INC. CL A GLXY	GLXY	2,343,169	$64.1m0.59%	0.59%	New
52	VENTURE GLOBAL INC COM CL A VG	VG	5,410,280	$60.2m0.55%	0.55%	Added +3.9m	+3,910,280 260.7%
53	ESTABLISHMENT LABS HLDGS INC COM ESTA	ESTA	688,325	$59.1m0.54%	0.54%	New
54	QUIDELORTHO CORP COM QDEL	QDEL	3,306,281	$57.9m0.53%	0.53%	Unchanged
55	ALVOTECH ORDINARY SHARES ALVO	ALVO	15,677,093	$57.8m0.53%	0.53%	New
56	TARGET HOSPITALITY CORP COM TH	TH	2,586,389	$52.7m0.48%	0.48%	Added +396.9k	+396,933 18.1%
57	DNOW INC COM DNOW	DNOW	3,898,635	$50.6m0.46%	0.46%	Added +2.6m	+2,631,108 207.6%
58	PROTHENA CORP PLC SHS PRTA	PRTA	5,000,000	$49.0m0.45%	0.45%	Unchanged
59	TREVI THERAPEUTICS INC COM TRVI	TRVI	2,504,513	$46.7m0.43%	0.43%	Reduced -1.2m	-1,207,860 -32.5%
60	COLLEGIUM PHARMACEUTICAL INC COM COLL	COLL	1,279,611	$46.3m0.42%	0.42%	Unchanged
61	ARBUTUS BIOPHARMA CORP COM ABUS	ABUS	7,532,937	$36.2m0.33%	0.33%	Added +906.5k	+906,548 13.7%
62	VERSIGENT PLC ORDINARY SHARES VGNT	VGNT	855,163	$35.9m0.33%	0.33%	New
63	XPERI INC COMMON STOCK XPER	XPER	4,143,744	$34.1m0.31%	0.31%	Unchanged
64	ORTHOFIX MED INC COM OFIX	OFIX	3,721,715	$34.0m0.31%	0.31%	Unchanged
65	TRIPADVISOR INC COM TRIP	TRIP	2,439,110	$33.4m0.31%	0.31%	New
66	MATIV HOLDINGS INC COM MATV	MATV	3,982,442	$30.1m0.28%	0.28%	Unchanged
67	LIBERTY LATIN AMERICA LTD COM CL A LILA	LILA	3,777,654	$29.6m0.27%	0.27%	Added +27.7k	+27,654 0.7%
68	BIOHAVEN LTD COM BHVN	BHVN	1,721,493	$25.6m0.23%	0.23%	New
69	COMMSCOPE HLDG CO INC COM VISN	VISN	2,000,000	$25.6m0.23%	0.23%	Unchanged
70	ANI PHARMACEUTICALS INC COM ANIP	ANIP	258,131	$21.4m0.20%	0.20%	New
71	UNIQURE NV SHS QURE	QURE	408,581	$18.8m0.17%	0.17%	New
72	HUDSON PACIFIC PROPERTIES IN COM HPP	HPP	1,019,598	$15.5m0.14%	0.14%	New
73	SEAPORT ENTMT GROUP INC COMMON STOCK SEG	SEG	568,530	$15.1m0.14%	0.14%	Unchanged
74	GDS HLDGS LTD SPONSORED ADS GDS	GDS	485,873	$14.6m0.13%	0.13%	New
75	HERON THERAPEUTICS INC COM HRTX	HRTX	30,046,828	$12.8m0.12%	0.12%	Unchanged
76	PROTO LABS INC COM PRLB	PRLB	108,692	$8.9m0.08%	0.08%	Reduced -377.7k	-377,708 -77.7%
77	GRUPO AEROMEXICO SAB DE CV SPONSORED ADS AERO	AERO	467,129	$8.4m0.08%	0.08%	Unchanged
78	OMEROS CORP COM OMER	OMER	656,874	$6.2m0.06%	0.06%	New
79	EUPRAXIA PHARMACEUTICALS INC COM EPRX	EPRX	867,424	$5.7m0.05%	0.05%	Added +176.3k	+176,254 25.5%
80	EDESA BIOTECH INC COM NEW EDSA	EDSA	669,500	$5.4m0.05%	0.05%	Reduced -18.0k	-18,000 -2.6%
81	MEREO BIOPHARMA GROUP PLC SPON ADS MREO	MREO	15,307,347	$4.9m0.04%	0.04%	Unchanged
82	ABEONA THERAPEUTICS INC COM NEW ABEO	ABEO	608,771	$3.8m0.03%	0.03%	New
83	CARTERS INC COM CRI	CRI	86,844	$3.6m0.03%	0.03%	Reduced -932.0k	-932,009 -91.5%
84	THERAPEUTICSMD INC COM NEW TXMD	TXMD	1,192,191	$2.6m0.02%	0.02%	Unchanged
85	OPKO HEALTH INC NOTE 3.750% 1/1 · principal OPK 3.75 01.15.29 · principal	OPK 3.75 01.15.29	1,250,000	$1.9m0.02%	0.02%	Unchanged
86	TETRA TECHNOLOGIES INC DEL COM TTI	TTI	150,000	$1.7m0.02%	0.02%	New
87	SERVICE PPTYS TR COM SH BEN INT COM SH BEN INT		900,000	$1.5m0.01%	0.01%	New

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
CONSTELLATION ENERGY CORP CEG	CEG	715,000	$199.7m715.0k shares
AKAMAI TECHNOLOGIES INC AKAM	AKAM	1,300,000	$149.3m1.3m shares
TELEPHONE & DATA SYS INC TDS	TDS	1,850,000	$77.9m1.9m shares
PROTAGONIST THERAPEUTICS INC PTGX	PTGX	427,998	$45.1m428.0k shares
CALAVO GROWERS INC		1,416,662	$36.5m1.4m shares
TELESAT CORP TSAT	TSAT	843,781	$30.5m843.8k shares
BIOMARIN PHARMACEUTICAL INC BMRN	BMRN	440,560	$24.9m440.6k shares
INDIVIOR PHARMACEUTICALS INC INDV	INDV	662,515	$20.2m662.5k shares
ACADIA HEALTHCARE COMPANY IN ACHC	ACHC	850,000	$19.9m850.0k shares
CAPRI HOLDINGS LIMITED CPRI	CPRI	675,000	$11.9m675.0k shares
EMBECTA CORP EMBC	EMBC	1,037,416	$9.2m1.0m shares
HELEN OF TROY LTD HELE	HELE	366,226	$5.3m366.2k shares
PLAYSTUDIOS INC MYPS	MYPS	2,697,384	$1.3m2.7m shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on. The largest 25 of 27.

Company	Ticker	Stake	Change	Schedule	Last filed
HERON THERAPEUTICS INC HRTX · 13D · filed 2025-10-17	HRTX	15.9%≈ $12.8m	-1.6 pts	13D	2025-10-17
LIBERTY LATIN AMERICA LTD LILA · 13G · filed 2026-05-15	LILA	9.8%≈ $29.4m	new	13G	2026-05-15
MEIRAGTX HLDGS PLC MGTX · 13G · filed 2026-08-14	MGTX	9.8%≈ $122.9m	+1.9 pts	13G	2026-08-14
ZYMEWORKS INC ZYME · 13G · filed 2026-05-15	ZYME	9.5%≈ $183.0m	+1.8 pts	13G	2026-05-15
INTEGRA LIFESCIENCES HLDGS C IART · 13G · filed 2025-07-09	IART	9.5%≈ $132.1m	+3.5 pts	13G	2025-07-09
PROTHENA CORP PLC PRTA · 13G · filed 2026-05-15	PRTA	9.3%≈ $48.9m	+2.5 pts	13G	2026-05-15
SCHRODINGER INC SDGR · 13G · filed 2026-05-15	SDGR	9.3%≈ $97.5m	+2.8 pts	13G	2026-05-15
ECOVYST INC ECVT · 13G · filed 2025-11-14	ECVT	9.1%≈ $129.5m	new	13G	2025-11-14
GOLAR LNG LTD GLNG · 13G · filed 2025-05-14	GLNG	8.6%≈ $447.3m	+1.2 pts	13G	2025-05-14
EDGEWELL PERS CARE CO EPC · 13G · filed 2026-05-15	EPC	8.6%≈ $107.4m	new	13G	2026-05-15
ARS PHARMACEUTICALS INC SPRY · 13G · filed 2026-05-15	SPRY	8.1%≈ $64.1m	+1.8 pts	13G	2026-05-15
CALAVO GROWERS INC 13G · filed 2026-05-15		7.9%	new	13G	2026-05-15
TALEN ENERGY CORP TLN · 13G · filed 2025-11-14	TLN	7.9%≈ $1.4bn	-2.0 pts	13G	2025-11-14
EDESA BIOTECH INC EDSA · 13G · filed 2026-05-15	EDSA	7.7%≈ $5.6m	new	13G	2026-05-15
KINIKSA PHARMACEUTICALS INTL KNSA · 13G · filed 2026-02-13	KNSA	7.4%≈ $212.9m	-1.9 pts	13G	2026-02-13
NURIX THERAPEUTICS INC NRIX · 13G · filed 2026-08-14	NRIX	7.0%≈ $175.3m	new	13G	2026-08-14
ENOVIS CORPORATION ENOV · 13G · filed 2026-08-14	ENOV	6.8%≈ $80.7m	new	13G	2026-08-14
MISSION PRODUCE INC AVO · 13G · filed 2026-08-14	AVO	6.8%≈ $70.5m	new	13G	2026-08-14
ARCUTIS BIOTHERAPEUTICS INC ARQT · 13G · filed 2026-02-13	ARQT	6.8%≈ $216.9m		13G	2026-02-13
ARDELYX INC ARDX · 13G · filed 2026-08-14	ARDX	6.6%≈ $82.6m	new	13G	2026-08-14
CIMPRESS PLC CMPR · 13G · filed 2026-02-13	CMPR	6.2%≈ $155.1m	new	13G	2026-02-13
OPKO HEALTH INC OPK · 13G · filed 2025-07-09	OPK	6.0%≈ $71.7m		13G	2025-07-09
BGC GROUP INC BGC · 13G · filed 2026-02-13	BGC	5.8%≈ $224.5m	new	13G	2026-02-13
MANNKIND CORP MNKD · 13G · filed 2026-08-14	MNKD	5.8%≈ $76.7m	new	13G	2026-08-14
LIBERTY GLOBAL LTD LBTYA · 13G · filed 2026-02-13	LBTYA	5.7%≈ $113.9m	new	13G	2026-02-13