Q4 2025 · 13F-HR
Rubric Capital Management LPholdings as filed
Filed 2026-02-13 · accession 0001104659-26-015172
$8.36B
Reported value
76
Positions
2025-12-31
Period end
The Brief · Rubric Capital Management LP · Q4 2025
AI · grounded in 13F
Rubric Capital Management LP exited its position in SPY, reducing exposure by $932.65M. The fund also closed its position in IWM for $483.92M and liquidated BAX for $85.95M. On the buy side, the fund established new positions in VST for $322.66M and CEG for $236.69M. Additionally, it increased its stake in VTRS by 65.75%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 87422Q109 | TLN | TALEN ENERGY CORP | $1.35B | 16.1% | 3,602,171 | Common | SOLE |
| G3730V105 | FTAI | FTAI AVIATION LTD | $728.3M | 8.71% | 3,700,000 | Common | SOLE |
| 881624209 | TEVA | TEVA PHARMACEUTICAL INDS LTD | $666.5M | 7.97% | 21,355,510 | Common | SOLE |
| G9456A100 | GLNG | GOLAR LNG LTD | $341.5M | 4.08% | 9,178,978 | Common | SOLE |
| 92840M102 | VST | VISTRA CORP | $322.7M | 3.86% | 2,000,000 | Common | SOLE |
| 92556V106 | VTRS | VIATRIS INC | $317.5M | 3.80% | 25,500,000 | Common | SOLE |
| 03969K108 | ARQT | ARCUTIS BIOTHERAPEUTICS INC | $240.2M | 2.87% | 8,271,577 | Common | SOLE |
| 21037T109 | CEG | CONSTELLATION ENERGY CORP | $236.7M | 2.83% | 670,000 | Common | SOLE |
| 89346D107 | TAC | TRANSALTA CORP | $224.8M | 2.69% | 17,781,325 | Common | SOLE |
| G76279101 | ROIV | ROIVANT SCIENCES LTD | $195.3M | 2.34% | 9,000,000 | Common | SOLE |
| 589400100 | MCY | MERCURY GENL CORP NEW | $193.2M | 2.31% | 2,054,504 | Common | SOLE |
| 088929104 | BGC | BGC GROUP INC | $187.5M | 2.24% | 21,000,000 | Common | SOLE |
| 343412102 | FLR | FLUOR CORP NEW | $164.2M | 1.96% | 4,143,808 | Common | SOLE |
| 03168L105 | AMRX | AMNEAL PHARMACEUTICALS INC | $155.4M | 1.86% | 12,334,941 | Common | SOLE |
| 98985Y108 | ZYME | ZYMEWORKS INC | $151.4M | 1.81% | 5,750,000 | Common | SOLE |
| G52694109 | KNSA | KINIKSA PHARMACEUTICALS INTL | $137.3M | 1.64% | 3,328,653 | Common | SOLE |
| G61188101 | LBTYA | LIBERTY GLOBAL LTD | $111.6M | 1.33% | 10,018,432 | Common | SOLE |
| 219798105 | QDEL | QUIDELORTHO CORP | $107.9M | 1.29% | 3,777,157 | Common | SOLE |
| 00971T101 | AKAM | AKAMAI TECHNOLOGIES INC | $104.7M | 1.25% | 1,200,000 | Common | SOLE |
| 27923Q109 | ECVT | ECOVYST INC | $102.2M | 1.22% | 10,500,000 | Common | SOLE |
| G2143T103 | CMPR | CIMPRESS PLC | $101.5M | 1.21% | 1,525,000 | Common | SOLE |
| 457985208 | IART | INTEGRA LIFESCIENCES HLDGS C | $96.3M | 1.15% | 7,753,934 | Common | SOLE |
| 24665A103 | DK | DELEK US HLDGS INC NEW | $79.7M | 0.95% | 2,687,449 | Common | SOLE |
| G9001E128 | LILAK | LIBERTY LATIN AMERICA LTD | $79.5M | 0.95% | 10,656,935 | Common | SOLE |
| 879433829 | TDS | TELEPHONE & DATA SYS INC | $75.8M | 0.91% | 1,850,000 | Common | SOLE |
| 80810D103 | SDGR | SCHRODINGER INC | $74.6M | 0.89% | 4,171,498 | Common | SOLE |
| 29415C101 | EOSE | EOS ENERGY ENTERPRISES INC | $74.5M | 0.89% | 6,500,000 | Common | SOLE |
| 20464U100 | COMP | COMPASS INC | $74.0M | 0.88% | 7,000,000 | Common | SOLE |
| 00676P107 | ADEA | ADEIA INC | $73.9M | 0.88% | 4,284,205 | Common | SOLE |
| 82835W108 | SPRY | ARS PHARMACEUTICALS INC | $72.2M | 0.86% | 6,200,000 | Common | SOLE |
| 19459J104 | COLL | COLLEGIUM PHARMACEUTICAL INC | $69.3M | 0.83% | 1,496,436 | Common | SOLE |
| G61188127 | LBTYK | LIBERTY GLOBAL LTD | $67.6M | 0.81% | 6,121,582 | Common | SOLE |
| 194014502 | ENOV | ENOVIS CORPORATION | $65.4M | 0.78% | 2,453,265 | Common | SOLE |
| M85548101 | SSYS | STRATASYS LTD | $63.7M | 0.76% | 7,340,026 | Common | SOLE |
| 039483102 | ADM | ARCHER DANIELS MIDLAND CO | $63.3M | 0.76% | 1,101,583 | Common | SOLE |
| G7500M104 | RNW | RENEW ENERGY GLOBAL PLC | $62.1M | 0.74% | 11,000,000 | Common | SOLE |
| H11356104 | BG | BUNGE GLOBAL SA | $60.3M | 0.72% | 676,510 | Common | SOLE |
| 68375N103 | OPK | OPKO HEALTH INC | $60.2M | 0.72% | 47,791,243 | Common | SOLE |
| 741623102 | PRMB | PRIMO BRANDS CORPORATION | $59.3M | 0.71% | 3,628,815 | Common | SOLE |
| 743713109 | PRLB | PROTO LABS INC | $56.8M | 0.68% | 1,123,338 | Common | SOLE |
| 68752M108 | OFIX | ORTHOFIX MED INC | $56.4M | 0.67% | 3,721,715 | Common | SOLE |
| 36162J106 | GEO | GEO GROUP INC NEW | $56.2M | 0.67% | 3,486,915 | Common | SOLE |
| 034164103 | ANDE | ANDERSONS INC | $53.5M | 0.64% | 1,005,631 | Common | SOLE |
| G59665102 | MGTX | MEIRAGTX HLDGS PLC | $49.1M | 0.59% | 6,175,331 | Common | SOLE |
| 808541106 | MATV | MATIV HOLDINGS INC | $48.4M | 0.58% | 3,982,442 | Common | SOLE |
| 651229106 | NWL | NEWELL BRANDS INC | $48.4M | 0.58% | 13,000,000 | Common | SOLE |
| 89532M101 | TRVI | TREVI THERAPEUTICS INC | $47.2M | 0.56% | 3,766,749 | Common | SOLE |
| 67080M103 | NRIX | NURIX THERAPEUTICS INC | $46.9M | 0.56% | 2,473,885 | Common | SOLE |
| 56400P706 | MNKD | MANNKIND CORP | $42.4M | 0.51% | 7,476,495 | Common | SOLE |
| 427746102 | HRTX | HERON THERAPEUTICS INC | $39.1M | 0.47% | 30,046,828 | Common | SOLE |
| 21871N101 | CXW | CORECIVIC INC | $37.5M | 0.45% | 1,961,446 | Common | SOLE |
| G72800108 | PRTA | PROTHENA CORP PLC | $35.1M | 0.42% | 3,677,331 | Common | SOLE |
| 388689101 | GPK | GRAPHIC PACKAGING HLDG CO | $30.1M | 0.36% | 2,000,000 | Common | SOLE |
| 644393100 | NFE | NEW FORTRESS ENERGY INC | $27.0M | 0.32% | 23,701,399 | Common | SOLE |
| 879512309 | TSAT | TELESAT CORP | $24.6M | 0.29% | 843,781 | Common | SOLE |
| 237266101 | DAR | DARLING INGREDIENTS INC | $24.5M | 0.29% | 680,827 | Common | SOLE |
| 98423J101 | XPER | XPERI INC | $24.3M | 0.29% | 4,143,744 | Common | SOLE |
| G4766E116 | INDV | INDIVIOR PLC | $17.9M | 0.21% | 498,527 | Common | SOLE |
| 87615L107 | TH | TARGET HOSPITALITY CORP | $17.5M | 0.21% | 2,189,456 | Common | SOLE |
| 28035Q102 | EPC | EDGEWELL PERS CARE CO | $17.2M | 0.21% | 1,007,071 | Common | SOLE |
| G1890L107 | CPRI | CAPRI HOLDINGS LIMITED | $16.5M | 0.20% | 675,000 | Common | SOLE |
| 375916103 | GIL | GILDAN ACTIVEWEAR INC | $16.0M | 0.19% | 256,398 | Common | SOLE |
| G8267P108 | SW | SMURFIT WESTROCK PLC | $15.5M | 0.18% | 400,000 | Common | SOLE |
| 146229109 | CRI | CARTERS INC | $14.9M | 0.18% | 460,000 | Common | SOLE |
| G9001E102 | LILA | LIBERTY LATIN AMERICA LTD | $14.4M | 0.17% | 1,943,065 | Common | SOLE |
| 29082K105 | EMBC | EMBECTA CORP | $12.3M | 0.15% | 1,037,416 | Common | SOLE |
| 00404A109 | ACHC | ACADIA HEALTHCARE COMPANY IN | $12.1M | 0.14% | 850,000 | Common | SOLE |
| 812215200 | SEG | SEAPORT ENTMT GROUP INC | $11.2M | 0.13% | 568,530 | Common | SOLE |
| 86384P109 | STUB | STUBHUB HLDGS INC | $10.6M | 0.13% | 784,854 | Common | SOLE |
| 03879J100 | ABUS | ARBUTUS BIOPHARMA CORP | $7.6M | 0.09% | 1,575,376 | Common | SOLE |
| 589492107 | MREO | MEREO BIOPHARMA GROUP PLC | $6.4M | 0.08% | 15,307,347 | Common | SOLE |
| G4388N106 | HELE | HELEN OF TROY LTD | $5.5M | 0.07% | 256,937 | Common | SOLE |
| 88338N206 | TXMD | THERAPEUTICSMD INC | $1.9M | 0.02% | 1,192,191 | Common | SOLE |
| 72815G108 | MYPS | PLAYSTUDIOS INC | $1.8M | 0.02% | 2,697,384 | Common | SOLE |
| 68375NAG8 | OPK 3.75 01/15/29 | OPKO HEALTH INC | $1.7M | 0.02% | 1,250,000 | Common | SOLE |
| 27966L306 | EDSA | EDESA BIOTECH INC | $976,250 | 0.01% | 687,500 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.