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Rubric Capital Management LP

SEC CIK
0001687509
Latest filing
Aug 14, 2026

The latest 13F from Rubric Capital Management LP covers Q2 2026 (filed Aug 14, 2026): 87 long positions worth $10.9B. The top 10 holdings make up 46.4% of the portfolio, and the largest is Talen Energy Corp (TLN) at 12.7%. Livermore has 24 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Full comparison

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

New
18
Est. +$965.6M
Added
35
Est. +$1.53B
Reduced
10
Est. −$269.7M
Sold out
13
Est. −$631.6M

Top 5 holdings

Share of this quarter's portfolio value

  1. TLNTalen Energy Corp
    12.7%$1.38BHistory
  2. FTAIFTAI Aviation Ltd.
    7.4%$811.6MHistory
  3. VTRSViatris Inc
    5.0%$542.6MHistory
  4. TEVATeva Pharmaceutical Industries Ltd
    4.8%$527.7MHistory
  5. GLNGGolar LNG Ltd
    4.2%$457.5MHistory

Share of portfolio

Top 5 holdings and the other 82 positions, by share of portfolio value

  1. TLN12.7%
  2. FTAI7.4%
  3. VTRS5.0%
  4. TEVA4.8%
  5. GLNG4.2%
  6. Other 82 positions65.8%

Biggest buys

New and added positions, by estimated amount bought

  1. FLRFluor Corp
    +$262.9MNewHistory
  2. AMZNAmazon Com Inc
    +$214.5MNewHistory
  3. GILGildan Activewear Inc.
    +$160.2MAddedHistory
  4. ZMZoom Communications, Inc.
    +$152.3MAddedHistory
  5. PFSIPennyMac Financial Services, Inc.
    +$143.3MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. FLRFluor Corp
    +2.41 pp0.0% → 2.4%History
  2. AMZNAmazon Com Inc
    +1.97 pp0.0% → 2.0%History
  3. PFSIPennyMac Financial Services, Inc.
    +1.30 pp0.1% → 1.4%History
  4. ZMZoom Communications, Inc.
    +1.20 pp1.0% → 2.2%History
  5. GILGildan Activewear Inc.
    +1.18 pp1.0% → 2.1%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. CEGConstellation Energy Corp
    −$199.7MSold outHistory
  2. AKAMAkamai Technologies Inc
    −$149.3MSold outHistory
  3. TDSTelephone & Data Systems Inc
    −$77.9MSold outHistory
  4. ADEAAdeia Inc.
    −$71.0MReducedHistory
  5. MCYMercury General Corp
    −$65.4MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. CEGConstellation Energy Corp
    −2.45 pp2.4% → 0.0%History
  2. AKAMAkamai Technologies Inc
    −1.83 pp1.8% → 0.0%History
  3. TDSTelephone & Data Systems Inc
    −0.95 pp1.0% → 0.0%History
  4. MCYMercury General Corp
    −0.82 pp2.3% → 1.5%History
  5. ADEAAdeia Inc.
    −0.62 pp1.3% → 0.6%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$10.9B
+$2.74B (+33.5%) vs. prior quarter
Positions
87
+5 vs. prior quarter
Top 10 concentration
46.4%
Top 10 as share of value
Turnover
9.5%
Q2 2026, one quarter
Average holding period
8.0 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $10.9B (Q2 2026)

Q1 2021: $1.68BQ2 2021: $1.58BQ3 2021: $1.74BQ4 2021: $2.12BQ1 2022: $2.15BQ2 2022: $1.90BQ3 2022: $1.99BQ4 2022: $2.29BQ1 2023: $2.51BQ2 2023: $2.34BQ3 2023: $2.38BQ4 2023: $2.68BQ1 2024: $3.38BQ2 2024: $3.79BQ3 2024: $6.11BQ4 2024: $5.50BQ1 2025: $5.58BQ2 2025: $6.22BQ3 2025: $7.45BQ4 2025: $8.36BQ1 2026: $8.16BQ2 2026: $10.9B
Q1 2021Q2 2026
13F filings of Rubric Capital Management LP by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 202687$10.9BTLNFTAIVTRSvs. Q1 2026SEC
Q1 2026May 15, 202682$8.16BTLNFTAIGLNGvs. Q4 2025SEC
Q4 2025Feb 13, 202676$8.36BTLNFTAITEVAvs. Q3 2025SEC
Q3 2025Nov 14, 202570$7.45BTLNFTAITEVAvs. Q2 2025SEC
Q2 2025Aug 14, 202563$6.22BTLNTEVAFTAIvs. Q1 2025SEC
Q1 2025May 14, 202565$5.58BTLNTEVAGLNGvs. Q4 2024SEC
Q4 2024Feb 14, 202567$5.50BTLNTEVAGLNGvs. Q3 2024SEC
Q3 2024Nov 13, 202464$6.11BTLNTEVAROIVvs. Q2 2024SEC
Q2 2024Aug 13, 202467$3.79BTEVAROIVVTRSvs. Q1 2024SEC
Q1 2024May 10, 202468$3.38BTEVAVTRSROIVvs. Q4 2023SEC
Q4 2023Feb 13, 202457$2.68BROIVTEVAVTRSvs. Q3 2023SEC
Q3 2023Nov 15, 2023Amended59$2.38BTEVAGLNGVTRSvs. Q2 2023SEC
Q2 2023Aug 11, 202361$2.34BTEVAGLNGVTRSvs. Q1 2023SEC
Q1 2023May 12, 202370$2.51BGLNGSTNGCCJvs. Q4 2022SEC
Q4 2022Feb 10, 202394$2.29BGLNGFLRHTZvs. Q3 2022SEC
Q3 2022Nov 14, 202287$1.99BGLNGHTZFLRvs. Q2 2022SEC
Q2 2022Aug 15, 2022Amended88$1.90BGLNGHTZPLYAvs. Q1 2022SEC
Q1 2022May 13, 202270$2.15BHTZGLNGPLYAvs. Q4 2021SEC
Q4 2021Feb 14, 202268$2.12BHTZPLYAGSMvs. Q3 2021SEC
Q3 2021Nov 12, 202155$1.74BWSCGSMPLYAvs. Q2 2021SEC
Q2 2021Aug 13, 202156$1.58BGLNGPLYAWSCvs. Q1 2021SEC
Q1 2021May 14, 202158$1.68BWSCALLYCOLL–SEC

13D and 13G filings

Companies where Rubric Capital Management LP reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

27 companies, largest stake first.

Companies where Rubric Capital Management LP owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
HRTXHeron Therapeutics, Inc.13D/A15.90%30.0M shares−1.60 ppfrom 17.50%Feb 6, 20236 filingsOct 17, 2025SEC
LILALiberty Latin America Ltd.13G9.85%3.75M sharesNewMay 15, 20261 filingMay 15, 2026SEC
MGTXMeiraGTx Holdings plc13G/A9.83%9.10M shares+1.93 ppfrom 7.90%Feb 13, 20262 filingsAug 14, 2026SEC
ZYMEZymeworks Inc.13G/A9.49%7.00M shares+1.81 ppfrom 7.68%Nov 13, 20243 filingsMay 15, 2026SEC
IARTIntegra Lifesciences Holdings Corp13G/A9.46%7.35M shares+3.45 ppfrom 6.01%May 14, 20252 filingsJul 9, 2025SEC
PRTAProthena Corp Public Ltd Co13G/A9.29%5.00M shares+2.46 ppfrom 6.83%Feb 13, 20262 filingsMay 15, 2026SEC
SDGRSchrodinger, Inc.13G/A9.28%6.00M shares+2.81 ppfrom 6.47%Nov 13, 20244 filingsMay 15, 2026SEC
ECVTEcovyst Inc.13G9.09%10.4M sharesNewNov 14, 20251 filingNov 14, 2025SEC
GLNGGolar LNG Ltd13G/A8.59%8.98M shares+1.20 ppfrom 7.39%Feb 14, 20225 filingsMay 14, 2025SEC
EPCEdgewell Personal Care Co13G8.56%4.00M sharesNewMay 15, 20261 filingMay 15, 2026SEC
SPRYARS Pharmaceuticals, Inc.13G/A8.06%8.00M shares+1.79 ppfrom 6.27%Feb 13, 20262 filingsMay 15, 2026SEC
CVGWCalavo Growers Inc13G7.93%1.42M sharesNewMay 15, 20261 filingMay 15, 2026SEC
TLNTalen Energy Corp13G/A7.88%3.60M shares−2.02 ppfrom 9.90%Nov 13, 20244 filingsNov 14, 2025SEC
EDSAEdesa Biotech, Inc.13G7.74%687.5K sharesNewMay 15, 20261 filingMay 15, 2026SEC
KNSAKiniksa Pharmaceuticals International, plc13G/A7.37%3.33M shares−1.87 ppfrom 9.24%Feb 12, 20245 filingsFeb 13, 2026SEC
NRIXNurix Therapeutics, Inc.13G6.96%7.23M sharesNewAug 14, 20261 filingAug 14, 2026SEC
ENOVEnovis CORP13G6.78%3.90M sharesNewAug 14, 20261 filingAug 14, 2026SEC
AVOMission Produce, Inc.13G6.77%5.98M sharesNewAug 14, 20261 filingAug 14, 2026SEC
ARQTArcutis Biotherapeutics, Inc.13G/A6.75%8.27M shares–Feb 12, 20243 filingsFeb 13, 2026SEC
ARDXArdelyx, Inc.13G6.56%16.2M sharesNewAug 14, 20261 filingAug 14, 2026SEC
CMPRCIMPRESS plc13G6.18%1.52M sharesNewFeb 13, 20261 filingFeb 13, 2026SEC
OPKOpko Health, Inc.13G/A6.03%47.8M shares–Nov 13, 20242 filingsJul 9, 2025SEC
BGCBGC Group, Inc.13G5.84%21.0M shares–Feb 10, 20234 filingsFeb 13, 2026SEC
MNKDMannkind Corp13G5.83%18.0M sharesNewAug 14, 20261 filingAug 14, 2026SEC
LBTYALiberty Global Ltd.13G5.74%10.0M sharesNewFeb 13, 20261 filingFeb 13, 2026SEC

Showing the 25 largest of 27 stakes.

Latest filings

184 filings on file made by Rubric Capital Management LP or listing it as a reporting person; the latest 20 are shown.

Schedule 13D and 13G filings by Rubric Capital Management LP
CompanyFiled (ET)FormStakeChangeEvent dateFiling
TSATTelesat CorpAug 14, 20264:06 PM ET13G/A0.00%0 shares–Below 5%Jun 30, 2026SEC
MGTXMeiraGTx Holdings plcAug 14, 20264:05 PM ET13G/A9.83%9.10M shares+1.93 ppfrom 7.90%Jun 30, 2026SEC
NRIXNurix Therapeutics, Inc.Aug 14, 20264:05 PM ET13G6.96%7.23M sharesNewJun 30, 2026SEC
MNKDMannkind CorpAug 14, 20264:04 PM ET13G5.83%18.0M sharesNewJun 30, 2026SEC
ENOVEnovis CORPAug 14, 20264:04 PM ET13G6.78%3.90M sharesNewJun 30, 2026SEC
AVOMission Produce, Inc.Aug 14, 20264:04 PM ET13G6.77%5.98M sharesNewJun 30, 2026SEC
ARDXArdelyx, Inc.Aug 14, 20264:03 PM ET13G6.56%16.2M sharesNewJun 30, 2026SEC
ZYMEZymeworks Inc.May 15, 20264:09 PM ET13G/A9.49%7.00M shares+1.81 ppfrom 7.68%Mar 31, 2026SEC
SPRYARS Pharmaceuticals, Inc.May 15, 20264:08 PM ET13G/A8.06%8.00M shares+1.79 ppfrom 6.27%Mar 31, 2026SEC
SDGRSchrodinger, Inc.May 15, 20264:08 PM ET13G/A9.28%6.00M shares+2.81 ppfrom 6.47%Mar 31, 2026SEC
PRTAProthena Corp Public Ltd CoMay 15, 20264:07 PM ET13G/A9.29%5.00M shares+2.46 ppfrom 6.83%Mar 31, 2026SEC
NFENew Fortress Energy Inc.May 15, 20264:07 PM ET13G/A0.00%0 shares−8.89 ppfrom 8.89%Below 5%Mar 31, 2026SEC
LILALiberty Latin America Ltd.May 15, 20264:04 PM ET13G9.85%3.75M sharesNewMar 31, 2026SEC
EPCEdgewell Personal Care CoMay 15, 20264:04 PM ET13G8.56%4.00M sharesNewMar 31, 2026SEC
EDSAEdesa Biotech, Inc.May 15, 20264:03 PM ET13G7.74%687.5K sharesNewMar 31, 2025SEC
CVGWCalavo Growers IncMay 15, 20264:02 PM ET13G7.93%1.42M sharesNewMar 31, 2026SEC
ZYMEZymeworks Inc.Feb 13, 20264:27 PM ET13G/A7.68%5.75M shares–Dec 31, 2025SEC
TRVITrevi Therapeutics, Inc.Feb 13, 20264:26 PM ET13G/A2.94%3.77M shares−4.18 ppfrom 7.12%Below 5%Dec 31, 2025SEC
SPRYARS Pharmaceuticals, Inc.Feb 13, 20264:24 PM ET13G6.27%6.20M sharesNewDec 31, 2025SEC
SDGRSchrodinger, Inc.Feb 13, 20264:23 PM ET13G/A6.47%4.17M shares−1.38 ppfrom 7.85%Dec 31, 2025SEC