Rubric Capital Management LP

CIK 0001687509 · Q1 2026

13F Equity AUM

$9.4B

+12.9% QoQ

Positions

+7 QoQ

AUM Rank

#666

Top 5%

Skill Alpha (FF)

+0.2%/yr^ns

No Clear Edge

Rank #2,200 · Top 27%

vs S&P -4.0%/yr (unadj.)

Quarters Tracked

~9 years

Portfolio Concentration

Top 5: 42.5%Top 10: 56.7%Top 20: 73.3%

IWM13.5%

TLN12.2%

FTAIN6.7%

GLNG5.3%

TEVA4.9%

VTRS4.8%

TAC2.5%

BGC2.4%

VST2.4%

CEG2.1%

Others (73)43.3%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Healthcare25.2%

Utilities19.7%

Financial Services18.0%

Industrials8.5%

Energy7.0%

Communication Services6.5%

Technology5.5%

Consumer Defensive3.4%

Other6.3%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 83Median: 0.53%Avg: 1.20%

0–0.5%

40(9.3%)

0.5–1%

19(12.6%)

1–3%

18(30.7%)

3–5%

2(9.7%)

5%+

4(37.7%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 81Unique: 2vs 20 funds

1.1%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

BlackRock, Inc.

1.9%

STATE STREET CORP

2.2%

MORGAN STANLEY

1.4%

GEODE CAPITAL MANAGEMENT, LLC

2.1%

BANK OF AMERICA CORP /DE/

1.6%

VANGUARD CAPITAL MANAGEMENT LLC

2.1%

VANGUARD PORTFOLIO MANAGEMENT LLC

2.4%

JPMORGAN CHASE & CO

1.3%

FMR LLC

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New17Increased25Decreased14Exited10

New Positions

IWM13.5%

+5.2M

ZM0.8%

+1.0M

AMCOR PLC0.5%

+1.3M

PTGX0.5%

+428K

DRVN0.4%

+3.0M

VISN0.4%

+2.0M

CVGW0.4%

+1.4M

BMRN0.3%

+441K

AVO0.3%

+1.7M

VG0.3%

+1.5M

Increased

VTRS4.8%

+8.0M(+31%)

I9DN0.3%

+5.1M(+321%)

LILAB1.4%

+4.7M(+44%)

LBTYK1.1%

+3.1M(+51%)

EPC0.9%

+3.0M(+297%)

BGC2.4%

+2.3M(+11%)

NWL0.6%

+2.3M(+17%)

SDGR0.7%

+1.8M(+44%)

LILAB0.3%

+1.8M(+93%)

SPRY0.7%

+1.8M(+29%)

Decreased

TEVA4.9%

-6,105,510(-29%)

ROIV1.5%

-4,000,000(-44%)

MNKD0.1%

-3,856,082(-52%)

COMP0.3%

-3,253,152(-46%)

ECVT1.2%

-1,363,933(-13%)

AMRX1.4%

-1,297,352(-11%)

FTAIN6.7%

-1,123,814(-30%)

PRMB0.6%

-846,411(-23%)

PRLB0.3%

-636,938(-57%)

VST2.4%

-500,000(-25%)

Exited

FLR

-4,143,808

EOSE

-6,500,000

ADM

-1,101,583

-676,510

GPK

-2,000,000

NFE

-23,701,399

DAR

-680,827

INDIVIOR PLC

-498,527

-400,000

STUB

-784,854

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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