Irenic Capital Management LP
CIK 1929389 · View on SEC EDGAR ↗
- Portfolio value
- $2.1B
- Positions
- 49
- As of
- June 30, 2026
#1,476 of 9,443 by 13F value · top 15.6%
Portfolio value QoQ: +35.6% 13F does not disclose cash
- Top 10 holdings weight
- 66.34%
- Top 25 holdings weight
- 91.02%
- Positions above 1%
- 27
- Effective number of positions
- 13.7
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 11.51% Est. buys $602,582,001 · sells $208,251,332
Median holding: 2.0 quarters Tracked Q4 2024–Q2 2026 · 46.7% still held
- New positions
- 18
- Increased
- 12
- Decreased
- 6
- Closed
- 14
Put-notional exposure: 29.5% puts 13F reports option positions at underlying notional value — may include hedges, not necessarily bearish bets
On this page
- Performance vs S&P How this manager's 13F portfolio performed against the S&P 500.
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
- Related The person behind this filer, where we can match one.
Performance vs S&P 500
Annualized: +2.1% · S&P 500: +17.7%
Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.
Priceable coverage: 89.1% · Options excluded: 40.3%
Sector breakdown
Health Care
23.4%
Technology
12.8%
Communication Services
11.1%
Industrials
9.0%
Real Estate
2.3%
Retail
2.1%
Materials
1.6%
Communications
1.1%
N/A
0.1%
Other/Unmapped
36.5%
Full portfolio 49 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| IWM | $428,261,430 | 20.57% | 1,425,400 | Put option | $104,323,830 | Up ×1 | |
| Unknown issuer (CUSIP: 46090E953) | $173,348,560 | 8.33% | 235,400 | Put option | Up ×1 | ||
| SNAP Snap Inc. Class A Common Stock | $133,200,000 | 6.40% | 30,000,000 | $-4,800,000 | |||
| RAL Ralliant Corporation Common Stock | $128,132,251 | 6.15% | 1,740,218 | $55,756,584 | |||
| ITGR Integer Holdings Corporation Common Stock | $118,145,004 | 5.67% | 1,264,259 | $6,942,660 | Up ×1 | ||
| TFX Teleflex Incorporated Common Stock | $110,281,200 | 5.30% | 870,000 | $6,220,500 | |||
| SHC Sotera Health Company - Common Stock | $91,267,341 | 4.38% | 5,141,822 | $28,754,291 | Up ×3 | ||
| SNDA Sonida Senior Living, Inc. Common Stock | $77,667,737 | 3.73% | 1,903,621 | $38,330,896 | Up ×2 | ||
| RSVR Reservoir Media, Inc.. - Common Stock | $61,913,141 | 2.97% | 6,260,176 | $1,399,428 | Up ×6 | ||
| FSLR First Solar, Inc. - Common Stock | $59,013,596 | 2.83% | 250,100 | Call option | $16,504,066 | Up ×1 | |
| ALKT Alkami Technology, Inc. - Common Stock | $48,473,736 | 2.33% | 2,675,151 | $6,554,120 | |||
| TBPH Theravance Biopharma, Inc. - Ordinary Shares | $46,936,116 | 2.25% | 2,760,948 | $2,125,930 | |||
| CPNG Coupang, Inc. Class A Common Stock | $43,164,085 | 2.07% | 2,484,979 | Up ×1 | |||
| Unknown issuer (CUSIP: G2R11M108) | $41,201,373 | 1.98% | 839,816 | Up ×1 | |||
| DBD Diebold Nixdorf Incorporated Common stock | $40,513,985 | 1.95% | 476,523 | $4,260,765 | Down ×2 | ||
| ATKR Atkore Inc. Common Stock | $38,598,893 | 1.85% | 507,613 | $37,775,508 | Up ×1 | ||
| MMSI Merit Medical Systems, Inc. - Common Stock | $37,623,121 | 1.81% | 542,589 | Up ×1 | |||
| SPSC SPS Commerce, Inc. - Common Stock | $34,170,738 | 1.64% | 597,704 | $896,556 | |||
| CMP Compass Minerals Intl Inc Common Stock | $33,258,607 | 1.60% | 1,068,378 | $-260,995 | Down ×1 | ||
| SMA SmartStop Self Storage REIT, Inc. Common Stock | $28,489,760 | 1.37% | 876,608 | Up ×1 | |||
| WK Workiva Inc. Class A Common Stock | $26,778,005 | 1.29% | 552,010 | $-6,138,351 | |||
| BATRK Atlanta Braves Holdings, Inc. - Series C Common Stock | $26,208,618 | 1.26% | 504,983 | ||||
| FSLR First Solar, Inc. - Common Stock | $23,357,444 | 1.12% | 98,989 | $8,979,360 | Up ×2 | ||
| NOK Nokia Corporation Sponsored American Depositary Shares | $22,974,400 | 1.10% | 1,730,000 | Up ×1 | |||
| COMP Compass, Inc. Class A Common Stock | $22,155,752 | 1.06% | 1,796,898 | Up ×1 | |||
| Unknown issuer (CUSIP: 698884AH6) | $21,943,530 | 1.05% | 27,226,000 | $4,609,406 | Up ×1 | ||
| ADEA Adeia Inc. - Common Stock | $20,903,042 | 1.00% | 634,772 | $16,099,445 | Up ×1 | ||
| AHH | $20,661,762 | 0.99% | 2,918,328 | $1,490,725 | Down ×1 | ||
| CTRI Centuri Holdings, Inc. Common Stock | $15,685,639 | 0.75% | 518,705 | $5,322,778 | Up ×2 | ||
| Unknown issuer (CUSIP: 78462F953) | $13,591,214 | 0.65% | 18,200 | Put option | |||
| SITC SITE Centers Corp. Common Stock | $10,343,351 | 0.50% | 2,605,378 | $-3,725,690 | |||
| SNAP Snap Inc. Class A Common Stock | $9,395,040 | 0.45% | 2,116,000 | Call option | $-17,121,660 | Down ×1 | |
| XLE XLE | $9,294,250 | 0.45% | 175,000 | Call option | Up ×1 | ||
| GDS GDS Holdings Limited - American Depositary Shares | $8,498,490 | 0.41% | 283,000 | Up ×1 | |||
| Unknown issuer (CUSIP: 42226B501) | $8,051,537 | 0.39% | 549,593 | Up ×1 | |||
| WSR Whitestone REIT Common Shares | $7,740,325 | 0.37% | 408,245 | $-12,695,740 | Down ×1 | ||
| SACU | $5,120,000 | 0.25% | 500,000 | $65,000 | |||
| GPACU General Purpose Acquisition Corp. - Units | $5,045,000 | 0.24% | 500,000 | $40,000 | |||
| ANAB AnaptysBio, Inc. - Common Stock | $4,755,173 | 0.23% | 70,447 | Up ×1 | |||
| AIV Apartment Investment and Management Company Common Stock | $4,153,426 | 0.20% | 1,398,460 | $-16,316,724 | Down ×1 | ||
| USO | $4,097,940 | 0.20% | 38,500 | Up ×1 | |||
| BLND Blend Labs, Inc. Class A Common Stock | $3,905,813 | 0.19% | 2,284,101 | $158,673 | Up ×1 | ||
| Unknown issuer (CUSIP: 743312AD2) | $3,314,891 | 0.16% | 3,444,000 | Up ×1 | |||
| HVMC Highview Merger Corp. - Class A Ordinary Share | $3,045,000 | 0.15% | 300,000 | $30,000 | |||
| ELME Elme Communities Common Stock | $2,826,144 | 0.14% | 1,909,557 | $-1,012,066 | |||
| SHY iShares 1-3 Year Treasury Bond ETF | $2,463,300 | 0.12% | 30,000 | $-13,800 | |||
| FVR FrontView REIT, Inc. Common Stock | $1,347,480 | 0.06% | 66,608 | Up ×1 | |||
| Unknown issuer (CUSIP: G4939F115) | $668,169 | 0.03% | 65,700 | Up ×1 | |||
| HVMCW Highview Merger Corp. - Warrants | $52,500 | 0.00% | 150,000 | ||||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| Unknown issuer (CUSIP: 46090E953) | $173,348,560 | 235,400 | 8.33% |
| CPNG | $43,164,085 | 2,484,979 | 2.07% |
| Unknown issuer (CUSIP: G2R11M108) | $41,201,373 | 839,816 | 1.98% |
| MMSI | $37,623,121 | 542,589 | 1.81% |
| SMA | $28,489,760 | 876,608 | 1.37% |
| BATRK | $26,208,618 | 504,983 | 1.26% |
| NOK | $22,974,400 | 1,730,000 | 1.10% |
| COMP | $22,155,752 | 1,796,898 | 1.06% |
| Unknown issuer (CUSIP: 78462F953) | $13,591,214 | 18,200 | 0.65% |
| XLE | $9,294,250 | 175,000 | 0.45% |
| GDS | $8,498,490 | 283,000 | 0.41% |
| Unknown issuer (CUSIP: 42226B501) | $8,051,537 | 549,593 | 0.39% |
| ANAB | $4,755,173 | 70,447 | 0.23% |
| USO | $4,097,940 | 38,500 | 0.20% |
| Unknown issuer (CUSIP: 743312AD2) | $3,314,891 | 3,444,000 | 0.16% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| IWM | Bought more | +119K | +$104.3M |
| RAL | Price move only | +0 | +$55.8M |
| SNDA | Bought more | +684K | +$38.3M |
| SHC | Bought more | +782K | +$28.8M |
| SNAP | Trimmed | -3.6M | -$17.1M |
| FSLR | Bought more | +35K | +$16.5M |
| AIV | Trimmed | -3.6M | -$16.3M |
| ADEA | Bought more | +435K | +$16.1M |
| WSR | Trimmed | -857K | -$12.7M |
| FSLR | Bought more | +26K | +$9.0M |
1 position hidden (data completeness check)
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| B | March 31, 2025 | 2,572,142 | $121,559,431 | 142.8% |
| EDR | March 31, 2025 | 3,051,357 | $95,476,961 | No longer tracked |
| TGI | Sept. 30, 2025 | 2,350,173 | $60,516,955 | No longer tracked |
| HI | March 31, 2026 | 1,351,604 | $42,872,879 | No longer tracked |
| AIV | Sept. 30, 2025 | 4,886,442 | $42,267,723 | -67.0% |
| QQQ | June 30, 2026 | 64,600 | $37,285,828 | |
| KBR | March 31, 2025 | 556,144 | $32,217,422 | -23.0% |
| DH | March 31, 2025 | 7,003,194 | $28,783,127 | -75.8% |
| TRS | Sept. 30, 2025 | 901,926 | $25,804,103 | 0.1% |
| FWRDXXXX | June 30, 2025 | 1,229,719 | $24,705,055 | No longer tracked |
| MAGN | June 30, 2025 | 1,210,829 | $21,988,655 | 2.1% |
| FWRD | June 30, 2026 | 1,229,819 | $20,550,275 | 37.1% |
| BASE | Sept. 30, 2025 | 802,134 | $19,556,027 | No longer tracked |
| HPE | June 30, 2026 | 785,000 | $18,690,850 | 18.8% |
| GO | Dec. 31, 2025 | 1,106,789 | $17,763,963 | 12.4% |
| BATRK | Sept. 30, 2025 | 372,105 | $17,403,351 | 26.7% |
| NWS | June 30, 2026 | 593,809 | $16,929,495 | 22.1% |
| RYAM | June 30, 2026 | 1,356,166 | $15,012,758 | 11.1% |
| PKST | June 30, 2026 | 674,700 | $14,094,483 | No longer tracked |
| AD | March 31, 2026 | 235,294 | $12,616,464 | -23.3% |
| PZZA | March 31, 2026 | 325,108 | $12,513,407 | -26.8% |
| NSA | Dec. 31, 2025 | 402,822 | $12,173,281 | No longer tracked |
| TASK | March 31, 2026 | 954,425 | $11,252,671 | 15.1% |
| JANX | June 30, 2026 | 765,804 | $10,644,676 | 14.5% |
| SGRY | June 30, 2026 | 711,000 | $8,475,120 | -17.0% |
| LION | Sept. 30, 2025 | 1,228,035 | $7,134,883 | 67.4% |
| CWAN | March 31, 2026 | 250,000 | $6,030,000 | No longer tracked |
| ACHC | June 30, 2025 | 133,907 | $4,060,060 | 18.0% |
| HVMCU | Dec. 31, 2025 | 300,000 | $3,036,000 | 2.2% |
| VIGL | Sept. 30, 2025 | 371,321 | $2,952,002 | No longer tracked |
| SARO | June 30, 2026 | 99,800 | $2,577,834 | -14.6% |
| MLAB | March 31, 2026 | 25,000 | $1,962,500 | 35.5% |
| WEAV | March 31, 2026 | 226,731 | $1,720,888 | 58.1% |
| QURE | June 30, 2026 | 100,000 | $1,635,000 | 7.3% |
| AVIR | June 30, 2026 | 301,699 | $1,623,141 | 15.3% |
| ICLR | March 31, 2026 | 8,000 | $1,457,760 | 56.0% |
| COO | March 31, 2026 | 15,000 | $1,229,400 | 6.0% |
| FATE | June 30, 2026 | 878,055 | $1,053,666 | -7.6% |
| AIN | March 31, 2026 | 20,000 | $1,014,000 | 12.8% |
| JAMF | Dec. 31, 2025 | 90,000 | $963,000 | No longer tracked |
| BLND | June 30, 2025 | 284,854 | $954,261 | -54.5% |
| LION | March 31, 2026 | 95,400 | $871,002 | 20.4% |
| VOR | June 30, 2026 | 32,663 | $582,708 | 26.5% |
| FUN | June 30, 2025 | 13,848 | $493,958 | -44.4% |
| ARRY | March 31, 2025 | 70,000 | $422,800 | -2.6% |
| GRAL | March 31, 2025 | 20,000 | $357,000 | 201.6% |
| HSIC | March 31, 2026 | 4,000 | $302,320 | 19.9% |
| ABUS | March 31, 2026 | 59,853 | $287,893 | 16.4% |
| MRVI | March 31, 2026 | 80,668 | $262,171 | 195.2% |
| DH | June 30, 2026 | 58,088 | $71,448 | -15.8% |
| GSM | June 30, 2025 | 16,263 | $60,336 | 9.3% |
| GSM | March 31, 2026 | 10,000 | $46,400 | -2.7% |
| HVMCW | March 31, 2026 | 150,000 | $40,545 | 21.8% |