WhaleCreep

Irenic Capital Management LP 13F holdings, Q4 2023

Hedge fundSEC filingsCompare with another fundHoldings as of 2023-12-31, filed 2024-02-14

Irenic Capital Management LP disclosed 20 US equity positions worth $461.8m in its Q4 2023 13F filing. Its largest position is NWS at 29.1% of the reported book, followed by NWSA and BUSD. Versus Q3 2023 it opened 4 new positions, added to 8, reduced 4 and exited 5.

$462m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
20
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
29.1%
Largest position
The largest single position as a share of the reported equity book.
90.7%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
7
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
15
Quarters on file since Q4 2022
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q3 2023: 4 new, 8 added, 4 reduced, 5 exited

20 rows
NWS NEWS CORP NEWCommunication Services29.1%$134m5.23m+0.7%added
NWSA NEWS CORP NEWCommunication Services17.4%$80.3m3.27m−0.3%held
BUSD BARNES GROUP INC–10.2%$47.2m1.45m–new
SHC SOTERA HEALTH COHealthcare8.1%$37.6m2.23m+103%added
TBPH THERAVANCE BIOPHARMA INCHealthcare6.7%$31.0m2.76m0.0%held
RSVR RESERVOIR MEDIA INCCommunication Services5.3%$24.7m3.46m+19%added
AIV APARTMENT INVT & MGMT COReal Estate4.7%$21.8m2.78m+502%added
DBD DIEBOLD NIXDORF INCTechnology3.1%$14.3m493,253+22%added
ENVUSD ENVESTNET INC–3.1%$14.2m287,155–new
BANDWIDTH INC no ticker–2.9%$13.3m20.97m+68%added
OUT OUTFRONT MEDIA INCReal Estate2.4%$11.0m788,364+26%added
ENSTAR GROUP LIMITED no ticker–2.3%$10.5m35,629+6.2%added
BL BLACKLINE INCTechnology1.5%$6.8m7.75m−30%reduced
EVENTBRITE INC no ticker–1.3%$5.9m7.00m0.0%held
BLND BLEND LABS INCTechnology0.6%$2.9m1.15m−51%reduced
JAMES RIV GROUP LTD no ticker–0.4%$2.1m224,871−44%reduced
GLOBAL BLUE GROUP HOLDING AG no ticker–0.4%$1.9m405,885−6.0%reduced
QTWO Q2 HLDGS INCTechnology0.2%$910k1.00m0.0%held
CCOI COGENT COMMUNICATIONS HLDGSCommunication Services0.1%$537k7,056–new
TLT ISHARES TR–0.06%$297k3,000–new

Exited since Q3 2023

5 rows
TABULA RASA HEALTHCARE INC no ticker6.7%$21.8m
AYXEUR ALTERYX INC1.5%$4.8m
MASI* MASIMO CORP1.3%$4.1m
ENFUSION INC no ticker0.4%$1.4m
AMBP ARDAGH METAL PACKAGING S A0.05%$152k

Sector mix

  • Communication Services52.0%
  • Unclassified20.7%
  • Healthcare14.9%
  • Real Estate7.1%
  • Technology5.4%

Book over time

Every quarter on file (15)
QuarterPositionsEquity book
Q2 202643$1.4bn
Q1 202641$1.1bn
Q4 202545$763m
Q3 202520$509m
Q2 202520$455m
Q1 202522$660m
Q4 202419$656m
Q3 202417$570m
Q2 202418$412m
Q1 202420$391m
Q4 202320$462m
Q3 202321$326m
Q2 202313$291m
Q1 202315$240m
Q4 202210$188m

Where Irenic Capital Management LP was early

3 rows
AIV APARTMENT INVT & MGMT COQ1 20236 of 945.1%9.3%12Held at last filing, Q2 2026−61%
ALKT ALKAMI TECHNOLOGY INCQ1 20238 of 990.9%6.4%4Held at last filing, Q2 2026+43%
BLND BLEND LABS INCQ3 20237 of 941.0%1.2%6Held at last filing, Q2 2026+25%

Concentration and tenure

24.5%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
86.4%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
1
Median completed holding, quarters