Rubric Capital Management LP
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Rubric Capital Management LP reported 81 stock positions worth $8.2 billion. Its top holding was Talen Energy (TLN) at 14.1% of the portfolio, followed by Ftai Aviation (FTAI, 7.7%) and Golar LNG (GLNG, 6.1%). Compared with Q4 2025, it opened 15 new positions, sold out of 9, added to 26 and reduced 14. The biggest buy was Viatris (VTRS, shares +31%) and the biggest sale Teva Pharmaceutical-SP ADR (TEVA, shares −29%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001687509
- Portfolio Value
- $8.2B (Q1 2026)
- SEC Filing
- 0001104659-26-062466 ↗ filed May 15, 2026
Holdings Value
Holdings 81 stocks · $8.2B
| TLN Talen Energy Corp. | 14.09% | 3,602,171 | $1.1B | No change |
| FTAI Ftai Aviation Ltd. | 7.73% | 2,576,186 | $631.2M | Reduce -30.4% |
| GLNG Golar LNG Ltd. | 6.09% | 9,178,978 | $496.7M | No change |
| TEVA Teva Pharmaceutical-SP ADR | 5.63% | 15,250,000 | $459.3M | Reduce -28.6% |
| VTRS Viatris Inc. | 5.55% | 33,500,000 | $452.6M | Add +31.4% |
| TAC Transalta Corp. | 2.85% | 17,781,325 | $232.9M | No change |
| BGC BGC Group Inc. Class A | 2.79% | 23,300,000 | $227.9M | Add +10.9% |
| VST Vistra Corp. | 2.76% | 1,500,000 | $225.5M | Reduce -25.0% |
| CEG Constellation Energy | 2.45% | 715,000 | $199.7M | Add +6.7% |
| ARQT Arcutis Biotherapeutics Inc. | 2.39% | 8,271,577 | $194.9M | No change |
| MCY Mercury General Corp. | 2.33% | 2,154,504 | $189.9M | Add +4.9% |
| KNSA Kiniksa Pharmaceuticals Inte | 2.21% | 3,750,000 | $180.6M | Add +12.7% |
| ZYME Zymeworks Inc. | 2.15% | 7,000,000 | $175.3M | Add +21.7% |
| AKAM Akamai Technologies Inc. | 1.83% | 1,300,000 | $149.3M | Add +8.3% |
| LBTYA Liberty Global Ltd. Class A | 1.74% | 11,752,855 | $142.1M | Add +17.3% |
| ROIV Roivant Sciences Ltd. | 1.70% | 5,000,000 | $138.5M | Reduce -44.4% |
| AMRX Amneal Pharmaceuticals Inc. | 1.68% | 11,037,589 | $137.2M | Reduce -10.5% |
| LILAK Liberty Latin Americ Class C | 1.66% | 15,395,430 | $135.8M | Add +44.5% |
| DK Delek US Holdings Inc. | 1.48% | 2,687,449 | $121.1M | No change |
| CMPR Cimpress PLC | 1.46% | 1,629,419 | $118.9M | Add +6.8% |
| ECVT Ecovyst Inc. | 1.44% | 9,136,067 | $117.5M | Reduce -13.0% |
| LBTYK Liberty Global Ltd. Class C | 1.33% | 9,259,361 | $108.6M | Add +51.3% |
| ADEA Adeia Inc. | 1.26% | 4,284,205 | $102.9M | No change |
| EPC Edgewell Personal Care Co. | 1.05% | 4,000,000 | $85.4M | Add +297.2% |
| ZM Zoom Communications Inc. | 0.99% | 1,001,006 | $80.5M | New |
| TDS Telephone and Data Systems | 0.95% | 1,850,000 | $77.9M | No change |
| GIL Gildan Activewear Inc. | 0.95% | 1,395,790 | $77.7M | Add +444.4% |
| IART Integra Lifesciences Holding | 0.90% | 7,753,934 | $73.0M | No change |
| SDGR Schrodinger Inc. | 0.84% | 6,000,000 | $68.2M | Add +43.8% |
| SPRY Ars Pharmaceuticals Inc. | 0.79% | 8,000,000 | $64.2M | Add +29.0% |
| GEO The Geo Group Inc. | 0.77% | 3,743,180 | $62.9M | Add +7.3% |
| SSYS Stratasys Ltd. | 0.77% | 8,000,000 | $62.5M | Add +9.0% |
| ANDE The Andersons Inc. | 0.75% | 855,819 | $61.4M | Reduce -14.9% |
| MGTX Meiragtx Holdings PLC | 0.74% | 7,000,000 | $60.6M | Add +13.3% |
| ENOV Enovis Corp. | 0.68% | 2,453,265 | $55.8M | No change |
| OPK Opko Health Inc. | 0.67% | 47,791,243 | $54.5M | No change |
| QDEL Quidelortho Corp. | 0.67% | 3,306,281 | $54.3M | Reduce -12.5% |
| PRMB Primo Brands Corp. | 0.64% | 2,782,404 | $52.4M | Reduce -23.3% |
| NWL Newell Brands Inc. | 0.64% | 15,257,431 | $52.3M | Add +17.4% |
| AMCR Amcor PLC | 0.62% | 1,269,396 | $50.5M | New |
| RNW Renew Energy Global PLC-A | 0.62% | 11,000,000 | $50.4M | No change |
| PRTA Prothena Corp. PLC | 0.60% | 5,000,000 | $48.6M | Add +36.0% |
| PTGX Protagonist Therapeutics Inc. | 0.55% | 427,998 | $45.1M | New |
| TRVI Trevi Therapeutics Inc. | 0.54% | 3,712,373 | $44.3M | Reduce -1.4% |
| OFIX Orthofix Medical Inc. | 0.52% | 3,721,715 | $42.7M | No change |
| COLL Collegium Pharmaceutical Inc. | 0.52% | 1,279,611 | $42.3M | Reduce -14.5% |
| CXW Corecivic Inc. | 0.48% | 2,059,216 | $38.9M | Add +5.0% |
| NRIX Nurix Therapeutics Inc. | 0.47% | 2,473,885 | $38.3M | No change |
| DRVN Driven Brands Holdings Inc. | 0.46% | 3,000,000 | $37.8M | New |
| CVGW Calavo Growers Inc. | 0.45% | 1,416,662 | $36.5M | New |
| CRI Carter's Inc. | 0.45% | 1,018,853 | $36.4M | Add +121.5% |
| VISN Vistance Networks Inc. | 0.45% | 2,000,000 | $36.4M | New |
| MATV Mativ Holdings Inc. | 0.42% | 3,982,442 | $34.6M | No change |
| LILA Liberty Latin Americ Class A | 0.40% | 3,750,000 | $32.4M | Add +93.0% |
| TSAT Telesat Corp. | 0.37% | 843,781 | $30.5M | No change |
| ABUS Arbutus Biopharma Corp. | 0.37% | 6,626,389 | $29.8M | Add +320.6% |
| PRLB Proto Labs Inc. | 0.34% | 486,400 | $27.7M | Reduce -56.7% |
| COMP Compass Inc. Class A | 0.34% | 3,746,848 | $27.4M | Reduce -46.5% |
| BMRN Biomarin Pharmaceutical Inc. | 0.30% | 440,560 | $24.9M | New |
| HRTX Heron Therapeutics Inc. | 0.29% | 30,046,828 | $24.0M | No change |
| AVO Mission Produce Inc. | 0.29% | 1,726,447 | $23.8M | New |
| VG Venture Global Inc. Class A | 0.29% | 1,500,000 | $23.6M | New |
| XPER Xperi Inc. | 0.28% | 4,143,744 | $23.2M | No change |
| TH Target Hospitality Corp. | 0.25% | 2,189,456 | $20.3M | No change |
| INDV Indivior Pharmaceuticals Inc. | 0.25% | 662,515 | $20.2M | Add +32.9% |
| ACHC Acadia Healthcare Co. Inc. | 0.24% | 850,000 | $19.9M | No change |
| ADMA Adma Biologics Inc. | 0.20% | 1,809,408 | $16.3M | New |
| DNOW Dnow Inc. | 0.18% | 1,267,527 | $15.1M | New |
| SEG Seaport Entertainment Group | 0.15% | 568,530 | $12.2M | No change |
| CPRI Capri Holdings Ltd. | 0.15% | 675,000 | $11.9M | No change |
| ARDX Ardelyx Inc. | 0.14% | 1,860,896 | $11.1M | New |
| EMBC Embecta Corp. | 0.11% | 1,037,416 | $9.2M | No change |
| MNKD Mannkind Corp. | 0.11% | 3,620,413 | $8.9M | Reduce -51.6% |
| AERO Grupo Aeromexico Sab DE CV | 0.08% | 467,129 | $6.5M | New |
| HELE Helen of Troy Ltd. | 0.06% | 366,226 | $5.3M | Add +42.5% |
| MREO Mereo Biopharma Group PL-ADR | 0.06% | 15,307,347 | $5.1M | No change |
| EPRX Eupraxia Pharmaceuticals Inc. | 0.06% | 691,170 | $5.0M | New |
| PFSI Pennymac Financial Services | 0.06% | 54,727 | $4.8M | New |
| EDSA Edesa Biotech Inc. | 0.04% | 687,500 | $3.6M | No change |
| TXMD Therapeuticsmd Inc. | 0.03% | 1,192,191 | $2.4M | No change |
| MYPS Playstudios Inc. | 0.02% | 2,697,384 | $1.3M | No change |
Options reported separately and not counted above: IWM puts ($1.3B).
Other holdings (1): bonds, preferreds, convertibles and warrants · $1.5M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| OPKO HEALTH INC (OPK 3.75 01/15/29) | NOTE 3.750% 1/1 · principal | 1,250,000 | $1.5M | No change |
Total filed on the 13F, all lines: $8.2B.
Portfolio Sells Q4 2025 → Q1 2026
| TEVA Teva Pharmaceutical-SP ADR | Reduce -28.6% | 5.63% | −2.34 |
| FLR Fluor Corp. | Sold out | 0.00% | −1.96 |
| VST Vistra Corp. | Reduce -25.0% | 2.76% | −1.10 |
| FTAI Ftai Aviation Ltd. | Reduce -30.4% | 7.73% | −0.98 |
| EOSE Eos Energy Enterprises Inc. | Sold out | 0.00% | −0.89 |
| ADM Archer-Daniels-Midland Co. | Sold out | 0.00% | −0.76 |
| BG Bunge Global SA | Sold out | 0.00% | −0.72 |
| ROIV Roivant Sciences Ltd. | Reduce -44.4% | 1.70% | −0.64 |
| QDEL Quidelortho Corp. | Reduce -12.5% | 0.67% | −0.62 |
| COMP Compass Inc. Class A | Reduce -46.5% | 0.34% | −0.55 |
| MNKD Mannkind Corp. | Reduce -51.6% | 0.11% | −0.40 |
| GPK Graphic Packaging Holding Co. | Sold out | 0.00% | −0.36 |
| PRLB Proto Labs Inc. | Reduce -56.7% | 0.34% | −0.34 |
| NFE New Fortress Energy Inc. | Sold out | 0.00% | −0.32 |
| COLL Collegium Pharmaceutical Inc. | Reduce -14.5% | 0.52% | −0.31 |
| DAR Darling Ingredients Inc. | Sold out | 0.00% | −0.29 |
| SW Smurfit Westrock PLC | Sold out | 0.00% | −0.18 |
| AMRX Amneal Pharmaceuticals Inc. | Reduce -10.5% | 1.68% | −0.18 |
| STUB Stubhub Holdings Inc. Class A | Sold out | 0.00% | −0.13 |
| PRMB Primo Brands Corp. | Reduce -23.3% | 0.64% | −0.07 |
| TRVI Trevi Therapeutics Inc. | Reduce -1.4% | 0.54% | −0.02 |
| ANDE The Andersons Inc. | Reduce -14.9% | 0.75% | +0.11 |
| ECVT Ecovyst Inc. | Reduce -13.0% | 1.44% | +0.22 |
Portfolio Buys Q4 2025 → Q1 2026
| VTRS Viatris Inc. | Add +31.4% | 5.55% | +1.75 |
| ZM Zoom Communications Inc. | New | 0.99% | +0.99 |
| EPC Edgewell Personal Care Co. | Add +297.2% | 1.05% | +0.84 |
| GIL Gildan Activewear Inc. | Add +444.4% | 0.95% | +0.76 |
| LILAK Liberty Latin Americ Class C | Add +44.5% | 1.66% | +0.71 |
| AMCR Amcor PLC | New | 0.62% | +0.62 |
| AKAM Akamai Technologies Inc. | Add +8.3% | 1.83% | +0.58 |
| KNSA Kiniksa Pharmaceuticals Inte | Add +12.7% | 2.21% | +0.57 |
| PTGX Protagonist Therapeutics Inc. | New | 0.55% | +0.55 |
| BGC BGC Group Inc. Class A | Add +10.9% | 2.79% | +0.55 |
| LBTYK Liberty Global Ltd. Class C | Add +51.3% | 1.33% | +0.52 |
| DRVN Driven Brands Holdings Inc. | New | 0.46% | +0.46 |
| CVGW Calavo Growers Inc. | New | 0.45% | +0.45 |
| VISN Vistance Networks Inc. | New | 0.45% | +0.45 |
| LBTYA Liberty Global Ltd. Class A | Add +17.3% | 1.74% | +0.41 |
| ZYME Zymeworks Inc. | Add +21.7% | 2.15% | +0.34 |
| BMRN Biomarin Pharmaceutical Inc. | New | 0.30% | +0.30 |
| AVO Mission Produce Inc. | New | 0.29% | +0.29 |
| VG Venture Global Inc. Class A | New | 0.29% | +0.29 |
| ABUS Arbutus Biopharma Corp. | Add +320.6% | 0.37% | +0.27 |
| CRI Carter's Inc. | Add +121.5% | 0.45% | +0.27 |
| CMPR Cimpress PLC | Add +6.8% | 1.46% | +0.24 |
| LILA Liberty Latin Americ Class A | Add +93.0% | 0.40% | +0.23 |
| ADMA Adma Biologics Inc. | New | 0.20% | +0.20 |
| DNOW Dnow Inc. | New | 0.18% | +0.18 |
| PRTA Prothena Corp. PLC | Add +36.0% | 0.60% | +0.18 |
| MGTX Meiragtx Holdings PLC | Add +13.3% | 0.74% | +0.16 |
| ARDX Ardelyx Inc. | New | 0.14% | +0.14 |
| GEO The Geo Group Inc. | Add +7.3% | 0.77% | +0.10 |
| AERO Grupo Aeromexico Sab DE CV | New | 0.08% | +0.08 |
| NWL Newell Brands Inc. | Add +17.4% | 0.64% | +0.06 |
| EPRX Eupraxia Pharmaceuticals Inc. | New | 0.06% | +0.06 |
| PFSI Pennymac Financial Services | New | 0.06% | +0.06 |
| INDV Indivior Pharmaceuticals Inc. | Add +32.9% | 0.25% | +0.03 |
| CXW Corecivic Inc. | Add +5.0% | 0.48% | +0.03 |
| MCY Mercury General Corp. | Add +4.9% | 2.33% | +0.02 |
| SSYS Stratasys Ltd. | Add +9.0% | 0.77% | +0.00 |
| HELE Helen of Troy Ltd. | Add +42.5% | 0.06% | −0.00 |
| SDGR Schrodinger Inc. | Add +43.8% | 0.84% | −0.06 |
| SPRY Ars Pharmaceuticals Inc. | Add +29.0% | 0.79% | −0.08 |
| CEG Constellation Energy | Add +6.7% | 2.45% | −0.38 |
Options Activity Q4 2025 → Q1 2026
| IWM iShares Russell 2000 ETF | put | New | 5,150,000 | $1.3B |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings 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 |