Rubric Capital Management LP
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 13, 2024), Rubric Capital Management LP reported 62 stock positions worth $6.1 billion. Its top holding was Talen Energy (TLN) at 33.2% of the portfolio, followed by Teva Pharmaceutical-SP ADR (TEVA, 4.7%) and Roivant Sciences (ROIV, 4.2%). Compared with Q2 2024, it opened 8 new positions, sold out of 12, added to 16 and reduced 14. The biggest buy was a new position in Talen Energy (TLN) and the biggest sale Teva Pharmaceutical-SP ADR (TEVA, shares −7%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001687509
- Portfolio Value
- $6.1B (Q3 2024)
- SEC Filing
- 0001104659-24-117768 ↗ filed Nov 13, 2024
Holdings Value
Holdings 62 stocks · $6.1B
| TLN Talen Energy Corp. | 33.17% | 11,368,614 | $2.0B | New |
| TEVA Teva Pharmaceutical-SP ADR | 4.72% | 16,005,498 | $288.4M | Reduce -7.3% |
| ROIV Roivant Sciences Ltd. | 4.23% | 22,400,000 | $258.5M | Reduce -2.6% |
| VST Vistra Corp. | 4.12% | 2,125,000 | $251.9M | Add +60.1% |
| GLNG Golar LNG Ltd. | 3.93% | 6,535,062 | $240.2M | No change |
| VTRS Viatris Inc. | 3.83% | 20,144,365 | $233.9M | No change |
| QDEL Quidelortho Corp. | 3.14% | 4,200,000 | $191.5M | Add +15.2% |
| BGC BGC Group Inc. Class A | 2.55% | 16,972,580 | $155.8M | Reduce -10.7% |
| FLR Fluor Corp. | 2.17% | 2,783,441 | $132.8M | Reduce -13.4% |
| LBTYA Liberty Global Ltd. Class A | 1.91% | 5,530,901 | $116.8M | Add +0.1% |
| ARQT Arcutis Biotherapeutics Inc. | 1.67% | 10,966,672 | $102.0M | Add +11.7% |
| MD Pediatrix Medical Group Inc. | 1.57% | 8,275,000 | $95.9M | Add +1.5% |
| COOP Mr Cooper Group Inc. | 1.56% | 1,035,998 | $95.5M | Reduce -31.8% |
| AMRX Amneal Pharmaceuticals Inc. | 1.46% | 10,721,778 | $89.2M | No change |
| RNW Renew Energy Global PLC-A | 1.41% | 13,706,102 | $86.2M | Add +1.5% |
| ALIT Alight Inc. Class A | 1.41% | 11,646,679 | $86.2M | Add +38.3% |
| DOLE Dole PLC | 1.37% | 5,141,388 | $83.8M | No change |
| LBTYK Liberty Global Ltd. Class C | 1.25% | 3,522,428 | $76.1M | Add +0.3% |
| ADPT Adaptive Biotechnologies | 1.21% | 14,400,000 | $73.7M | Add +2.9% |
| OPK Opko Health Inc. | 1.19% | 48,706,640 | $72.6M | Add +9.6% |
| SDGR Schrodinger Inc. | 1.12% | 3,685,503 | $68.4M | Add +17.8% |
| MATV Mativ Holdings Inc. | 1.11% | 4,000,000 | $68.0M | No change |
| PTVE Pactiv Evergreen Inc. | 1.08% | 5,726,583 | $65.9M | No change |
| UAL United Airlines Holdings Inc. | 1.04% | 1,112,623 | $63.5M | New |
| MREO Mereo Biopharma Group PL-ADR | 1.03% | 15,307,347 | $62.9M | No change |
| KNSA Kiniksa Pharmaceuticals Inte | 0.99% | 2,419,103 | $60.5M | No change |
| EXTR Extreme Networks Inc. | 0.97% | 3,931,913 | $59.1M | Reduce -25.2% |
| CAR Avis Budget Group Inc. | 0.96% | 672,406 | $58.9M | Reduce -2.6% |
| TAC Transalta Corp. | 0.95% | 5,622,961 | $58.3M | Add +20.0% |
| OFIX Orthofix Medical Inc. | 0.94% | 3,694,946 | $57.7M | No change |
| ADEA Adeia Inc. | 0.90% | 4,640,009 | $55.3M | No change |
| HRTX Heron Therapeutics Inc. | 0.87% | 26,713,503 | $53.2M | No change |
| SSYS Stratasys Ltd. | 0.84% | 6,191,000 | $51.4M | Add +3.7% |
| ZYME Zymeworks Inc. | 0.80% | 3,917,331 | $49.2M | No change |
| COLL Collegium Pharmaceutical Inc. | 0.79% | 1,250,000 | $48.3M | Reduce -46.4% |
| THS Treehouse Foods Inc. | 0.79% | 1,143,664 | $48.0M | New |
| XPER Xperi Inc. | 0.63% | 4,143,744 | $38.3M | No change |
| TDOC Teladoc Health Inc. | 0.62% | 4,126,624 | $37.9M | Reduce -10.8% |
| DK Delek US Holdings Inc. | 0.61% | 2,000,000 | $37.5M | New |
| GDRX Goodrx Holdings Inc. Class A | 0.53% | 4,680,028 | $32.5M | Add +25.2% |
| AIR Aar Corp. | 0.50% | 471,699 | $30.8M | Reduce -18.0% |
| FIP Ftai Infrastructure Inc. | 0.48% | 3,150,352 | $29.5M | Reduce -1.4% |
| CNNE Cannae Holdings Inc. | 0.45% | 1,430,248 | $27.3M | No change |
| CSTM Constellium SE | 0.41% | 1,523,832 | $24.8M | Reduce -58.4% |
| SCPH Scpharmaceuticals Inc. | 0.36% | 4,775,000 | $21.8M | Add +35.5% |
| ARDX Ardelyx Inc. | 0.35% | 3,060,191 | $21.1M | Add +68.5% |
| TRVI Trevi Therapeutics Inc. | 0.27% | 5,026,931 | $16.8M | No change |
| RSKD Riskified Ltd. Class A | 0.26% | 3,379,662 | $16.0M | Reduce -19.0% |
| EMBC Embecta Corp. | 0.25% | 1,085,529 | $15.3M | New |
| TSAT Telesat Corp. | 0.21% | 959,764 | $12.6M | No change |
| OABI Omniab Inc. | 0.20% | 2,850,588 | $12.1M | No change |
| CHRS Coherus Oncology Inc. | 0.18% | 10,400,000 | $10.8M | No change |
| SEG Seaport Entertainment Group | 0.12% | 276,942 | $7.6M | New |
| ABUS Arbutus Biopharma Corp. | 0.11% | 1,681,090 | $6.5M | No change |
| OVID Ovid Therapeutics Inc. | 0.10% | 5,315,969 | $6.3M | No change |
| IART Integra Lifesciences Holding | 0.09% | 293,083 | $5.3M | New |
| MYPS Playstudios Inc. | 0.07% | 2,711,190 | $4.1M | No change |
| ANIP Ani Pharmaceuticals Inc. | 0.06% | 56,671 | $3.4M | Reduce -90.6% |
| HOWL Werewolf Therapeutics Inc. | 0.05% | 1,333,893 | $2.8M | No change |
| TXMD Therapeuticsmd Inc. | 0.03% | 1,192,191 | $2.0M | No change |
| ZVRA Zevra Therapeutics Inc. | 0.00% | 20,000 | $139K | New |
| VINCERX PHARMA INC | 0.00% | 116,873 | $84K | No change |
Options reported separately and not counted above: GLNG calls ($25.7M).
Other holdings (2): bonds, preferreds, convertibles and warrants · $2.4M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| COHERUS ONCOLOGY INC (CHRS 1.5 04/15/26) | NOTE 1.500% 4/1 · principal | 2,500,000 | $1.9M | No change |
| SEAPORT ENTERTAINMENT GR-RTS | RIGHT 10/10/2024 | 144,563 | $426K | New |
Total filed on the 13F, all lines: $6.1B.
Portfolio Sells Q2 2024 → Q3 2024
| TEVA Teva Pharmaceutical-SP ADR | Reduce -7.3% | 4.72% | −2.68 |
| ROIV Roivant Sciences Ltd. | Reduce -2.6% | 4.23% | −2.18 |
| JAZZ Jazz Pharmaceuticals PLC | Sold out | 0.00% | −1.74 |
| COOP Mr Cooper Group Inc. | Reduce -31.8% | 1.56% | −1.69 |
| BGC BGC Group Inc. Class A | Reduce -10.7% | 2.55% | −1.61 |
| FLR Fluor Corp. | Reduce -13.4% | 2.17% | −1.52 |
| CSTM Constellium SE | Reduce -58.4% | 0.41% | −1.42 |
| PLAY Dave & Buster's Entertainmen | Sold out | 0.00% | −1.29 |
| COLL Collegium Pharmaceutical Inc. | Reduce -46.4% | 0.79% | −1.19 |
| VYX NCR Voyix Corp. | Sold out | 0.00% | −1.12 |
| ANIP Ani Pharmaceuticals Inc. | Reduce -90.6% | 0.06% | −0.96 |
| CAR Avis Budget Group Inc. | Reduce -2.6% | 0.96% | −0.94 |
| EXTR Extreme Networks Inc. | Reduce -25.2% | 0.97% | −0.90 |
| AIR Aar Corp. | Reduce -18.0% | 0.50% | −0.60 |
| TDOC Teladoc Health Inc. | Reduce -10.8% | 0.62% | −0.57 |
| RSKD Riskified Ltd. Class A | Reduce -19.0% | 0.26% | −0.44 |
| CRS Carpenter Technology | Sold out | 0.00% | −0.40 |
| SSTK Shutterstock Inc. | Sold out | 0.00% | −0.39 |
| KOP Koppers Holdings Inc. | Sold out | 0.00% | −0.35 |
| FIP Ftai Infrastructure Inc. | Reduce -1.4% | 0.48% | −0.24 |
| PLYA Playa Hotels & Resorts NV | Sold out | 0.00% | −0.23 |
| PTGX Protagonist Therapeutics Inc. | Sold out | 0.00% | −0.18 |
| RVNC Revance Therapeutics Inc. | Sold out | 0.00% | −0.18 |
| SPRY Ars Pharmaceuticals Inc. | Sold out | 0.00% | −0.14 |
| BCYC Bicycle Therapeutics PLC-ADR | Sold out | 0.00% | −0.11 |
| IMVT Immunovant Inc. | Sold out | 0.00% | −0.04 |
Portfolio Buys Q2 2024 → Q3 2024
| TLN Talen Energy Corp. | New | 33.17% | +33.17 |
| VST Vistra Corp. | Add +60.1% | 4.12% | +1.11 |
| UAL United Airlines Holdings Inc. | New | 1.04% | +1.04 |
| THS Treehouse Foods Inc. | New | 0.79% | +0.79 |
| DK Delek US Holdings Inc. | New | 0.61% | +0.61 |
| EMBC Embecta Corp. | New | 0.25% | +0.25 |
| SEG Seaport Entertainment Group | New | 0.12% | +0.12 |
| IART Integra Lifesciences Holding | New | 0.09% | +0.09 |
| TAC Transalta Corp. | Add +20.0% | 0.95% | +0.08 |
| ZVRA Zevra Therapeutics Inc. | New | 0.00% | +0.00 |
| ARDX Ardelyx Inc. | Add +68.5% | 0.35% | −0.01 |
| SCPH Scpharmaceuticals Inc. | Add +35.5% | 0.36% | −0.05 |
| MD Pediatrix Medical Group Inc. | Add +1.5% | 1.57% | −0.05 |
| QDEL Quidelortho Corp. | Add +15.2% | 3.14% | −0.06 |
| ADPT Adaptive Biotechnologies | Add +2.9% | 1.21% | −0.13 |
| ALIT Alight Inc. Class A | Add +38.3% | 1.41% | −0.23 |
| GDRX Goodrx Holdings Inc. Class A | Add +25.2% | 0.53% | −0.24 |
| OPK Opko Health Inc. | Add +9.6% | 1.19% | −0.28 |
| LBTYK Liberty Global Ltd. Class C | Add +0.3% | 1.25% | −0.41 |
| SDGR Schrodinger Inc. | Add +17.8% | 1.12% | −0.48 |
| SSYS Stratasys Ltd. | Add +3.7% | 0.84% | −0.48 |
| LBTYA Liberty Global Ltd. Class A | Add +0.1% | 1.91% | −0.63 |
| ARQT Arcutis Biotherapeutics Inc. | Add +11.7% | 1.67% | −0.74 |
| RNW Renew Energy Global PLC-A | Add +1.5% | 1.41% | −0.81 |
Notes & Other Activity Q2 2024 → Q3 2024
| SEAPORT ENTERTAINMENT GR-RTS | RIGHT 10/10/2024 | New | 144,563 | $426K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 86 | $10.9B | TLN, FTAI, VTRS, TEVA, GLNG |
| Q1 2026 | 81 | $8.2B | TLN, FTAI, GLNG, TEVA, VTRS |
| Q4 2025 | 75 | $8.4B | TLN, FTAI, TEVA, GLNG, VST |
| Q3 2025 | 69 | $7.4B | TLN, FTAI, TEVA, GLNG, ROIV |
| Q2 2025 | 62 | $6.2B | TLN, TEVA, FTAI, GLNG, VST |
| Q1 2025 | 64 | $5.6B | TLN, TEVA, GLNG, FTAI, QDEL |
| Q4 2024 | 66 | $5.5B | TLN, TEVA, GLNG, VTRS, QDEL |
| Q3 2024 | 62 | $6.1B | TLN, TEVA, ROIV, VST, GLNG |
| Q2 2024 | 66 | $3.8B | TEVA, ROIV, VTRS, GLNG, BGC |
| Q1 2024 | 67 | $3.4B | TEVA, VTRS, ROIV, GLNG, BGC |