Irenic Capital Management 13F holdings, Q3 2025
Holdings as of September 30, 2025 · filings on SEC EDGAR · latest filing →
Irenic Capital Management disclosed 20 US equity positions worth $509.2m in its Q3 2025 13F filing. The largest position was SHC at 11.0% of the reported book, followed by PZZA and RSVR. Against the Q2 2025 filing, it opened 7 new positions, added to 3 and reduced 3 among the top 20 holdings.
What did Irenic Capital Management own in Q3 2025? Top 20 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q2 2025 |
|---|---|---|---|---|---|---|---|
| 1 | SHC SOTERA HEALTH CO | Healthcare | 11.0% | $55.8m | 3,548,071 | -4% | reduced |
| 2 | PZZA PAPA JOHNS INTL INC | Consumer Cyclical | 10.2% | $51.7m | 1,073,700 | – | new |
| 3 | RSVR RESERVOIR MEDIA INC | 9.1% | $46.2m | 5,669,671 | 3% | added | |
| 4 | WK WORKIVA INC | Technology | 8.4% | $42.8m | 497,010 | – | new |
| 5 | TBPH THERAVANCE BIOPHARMA INC | Healthcare | 7.9% | $40.3m | 2,760,948 | 0% | held |
| 6 | 9HI HILLENBRAND INC | 7.2% | $36.5m | 1,351,604 | – | new | |
| 7 | BANDWIDTH INC | 6.7% | $34.3m | 40,173,000 | 66% | added | |
| 8 | DBD DIEBOLD NIXDORF INC | Technology | 6.6% | $33.8m | 593,461 | -0% | held |
| 9 | FWRD FORWARD AIR CORP | 6.2% | $31.5m | 1,229,819 | 0% | held | |
| 10 | ELME ELME COMMUNITIES | Real Estate | 5.6% | $28.7m | 1,699,873 | – | new |
| 11 | SGRY SURGERY PARTNERS INC | Healthcare | 4.8% | $24.5m | 1,132,203 | 340% | added |
| 12 | SITE CTRS CORP | 4.6% | $23.5m | 2,605,378 | 0% | held | |
| 13 | NWS NEWS CORP NEW | Communication Services | 4.0% | $20.5m | 593,809 | -8% | reduced |
| 14 | GO GROCERY OUTLET HLDG CORP | Consumer Defensive | 3.5% | $17.8m | 1,106,789 | -29% | reduced |
| 15 | NSA* NATIONAL STORAGE AFFILIATES | 2.4% | $12.2m | 402,822 | – | new | |
| 16 | HIGHVIEW MERGER CORP | 0.6% | $3.0m | 300,000 | – | new | |
| 17 | ARRY ARRAY TECHNOLOGIES INC | 0.5% | $2.6m | 3,000,000 | 0% | held | |
| 18 | SHY ISHARES TR | 0.5% | $2.5m | 30,000 | 0% | held | |
| 19 | JAMF HLDG CORP | 0.2% | $963.0k | 90,000 | – | new | |
| 20 | MRVI MARAVAI LIFESCIENCES HLDGS I | Healthcare | 0.0% | $59.3k | 20,668 | 0% | held |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.