Irenic Capital Management LP 13F holdings, Q4 2025
Irenic Capital Management LP disclosed 45 US equity positions worth $762.9m in its Q4 2025 13F filing. Its largest position is ITGR at 13.0% of the reported book, followed by SHC and TBPH. Versus Q3 2025 it opened 29 new positions, added to 7, reduced 2 and exited 4.
- $763m
- Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
- 45
- Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
- 13.0%
- Largest position The largest single position as a share of the reported equity book.
- 68.6%
- Top 10 weight The ten largest positions together, as a share of the reported equity book.
- 17
- 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 2025: 29 new, 7 added, 2 reduced, 4 exited
| ITGR INTEGER HLDGS CORP | 13.0% | – | new |
| SHC SOTERA HEALTH CO | 8.8% | +7.0% | added |
| TBPH THERAVANCE BIOPHARMA INC | 6.8% | 0.0% | held |
| ALKT ALKAMI TECHNOLOGY INC | 6.4% | – | new |
| WK WORKIVA INC | 6.2% | +11% | added |
| RSVR RESERVOIR MEDIA INC | 5.9% | +5.6% | added |
| DBD DIEBOLD NIXDORF INC | 5.7% | +8.5% | added |
| 9HI HILLENBRAND INC | 5.6% | 0.0% | held |
| SPSC SPS COMMERCE INC | 5.3% | – | new |
| BANDWIDTH INC no ticker | 4.8% | +5.0% | added |
| ELME ELME COMMUNITIES | 4.4% | +12% | added |
| FWRD FORWARD AIR CORP | 4.0% | 0.0% | held |
| AIV APARTMENT INVT & MGMT CO | 3.0% | – | new |
| NWS NEWS CORP NEW | 2.3% | 0.0% | held |
| RAL RALLIANT CORP | 2.2% | – | new |
| SITC SITE CTRS CORP | 2.2% | 0.0% | held |
| AD ARRAY DIGITAL INFRASTRUCTURE | 1.7% | – | new |
| PZZA PAPA JOHNS INTL INC | 1.6% | −70% | reduced |
| TASK TASKUS INC | 1.5% | – | new |
| BLND BLEND LABS INC | 1.2% | – | new |
| CWAN CLEARWATER ANALYTICS HLDGS I | 0.8% | – | new |
| SAFEGUARD ACQUISITION CORP no ticker | 0.7% | – | new |
| GENERAL PURP ACQUISITION COR no ticker | 0.7% | – | new |
| PKST PEAKSTONE REALTY TRUST | 0.6% | – | new |
| CTRI CENTURI HOLDINGS INC | 0.6% | – | new |
| WSRGBP WHITESTONE REIT | 0.6% | – | new |
| SNDA SONIDA SENIOR LIVING INC | 0.5% | – | new |
| HIGHVIEW MERGER CORP no ticker | 0.4% | – | new |
| ARRY ARRAY TECHNOLOGIES INC | 0.4% | 0.0% | held |
| SHY ISHARES TR | 0.3% | 0.0% | held |
| MLAB MESA LABS INC | 0.3% | – | new |
| FSLR FIRST SOLAR INC | 0.2% | – | new |
| WEAV WEAVE COMMUNICATIONS INC | 0.2% | – | new |
| ICLR ICON PLC | 0.2% | – | new |
| SGRY SURGERY PARTNERS INC | 0.2% | −93% | reduced |
| COO COOPER COS INC | 0.2% | – | new |
| AIN ALBANY INTL CORP | 0.1% | – | new |
| ATKR ATKORE INC | 0.1% | – | new |
| LION LIONSGATE STUDIOS CORP | 0.1% | – | new |
| SARO STANDARDAERO INC | 0.09% | – | new |
| HSIC HENRY SCHEIN INC | 0.04% | – | new |
| ABUS ARBUTUS BIOPHARMA CORP | 0.04% | – | new |
| MRVI MARAVAI LIFESCIENCES HLDGS I | 0.03% | +290% | added |
| GSM FERROGLOBE PLC | 0.01% | – | new |
| HIGHVIEW MERGER CORP no ticker | 0.01% | – | new |
Exited since Q3 2025
Sector mix
Book over time
Where Irenic Capital Management LP was early
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