Irenic Capital Management 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Irenic Capital Management disclosed 45 US equity positions worth $762.9m in its Q4 2025 13F filing. The largest position was ITGR at 13.0% of the reported book, followed by SHC and TBPH. Against the Q3 2025 filing, it opened 29 new positions, added to 7 and reduced 2 among the top 45 holdings.
What did Irenic Capital Management own in Q4 2025? Top 45 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | ITGR INTEGER HLDGS CORP | Healthcare | 13.0% | $99.1m | 1,263,663 | – | new |
| 2 | SHC SOTERA HEALTH CO | Healthcare | 8.8% | $67.0m | 3,798,026 | 7% | added |
| 3 | TBPH THERAVANCE BIOPHARMA INC | Healthcare | 6.8% | $51.7m | 2,760,948 | 0% | held |
| 4 | ALKT ALKAMI TECHNOLOGY INC | Technology | 6.4% | $48.6m | 2,106,448 | – | new |
| 5 | WK WORKIVA INC | Technology | 6.2% | $47.6m | 552,010 | 11% | added |
| 6 | RSVR RESERVOIR MEDIA INC | 5.9% | $45.3m | 5,986,176 | 6% | added | |
| 7 | DBD DIEBOLD NIXDORF INC | Technology | 5.7% | $43.7m | 644,057 | 9% | added |
| 8 | 9HI HILLENBRAND INC | 5.6% | $42.9m | 1,351,604 | 0% | held | |
| 9 | SPSC SPS COMM INC | Technology | 5.3% | $40.3m | 452,066 | – | new |
| 10 | BANDWIDTH INC | 4.8% | $37.0m | 42,173,000 | 5% | added | |
| 11 | ELME ELME COMMUNITIES | Real Estate | 4.4% | $33.2m | 1,909,557 | 12% | added |
| 12 | FWRD FORWARD AIR CORP | 4.0% | $30.7m | 1,229,819 | 0% | held | |
| 13 | APARTMENT INVT & MGMT CO | 3.0% | $23.1m | 3,890,324 | – | new | |
| 14 | NWS NEWS CORP NEW | Communication Services | 2.3% | $17.6m | 593,809 | 0% | held |
| 15 | RAL RALLIANT CORP | Technology | 2.2% | $16.9m | 332,042 | – | new |
| 16 | SITE CTRS CORP | 2.2% | $16.7m | 2,605,378 | 0% | held | |
| 17 | AD ARRAY DIGITAL INFRASTRUCTURE | Communication Services | 1.7% | $12.6m | 235,294 | – | new |
| 18 | PZZA PAPA JOHNS INTL INC | Consumer Cyclical | 1.6% | $12.5m | 325,108 | -70% | reduced |
| 19 | TASK TASKUS INC | Technology | 1.5% | $11.3m | 954,425 | – | new |
| 20 | BLND BLEND LABS INC | 1.2% | $9.5m | 3,114,949 | – | new | |
| 21 | CWAN CLEARWATER ANALYTICS HLDGS I | Technology | 0.8% | $6.0m | 250,000 | – | new |
| 22 | SAFEGUARD ACQUISITION CORP | 0.7% | $5.0m | 500,000 | – | new | |
| 23 | GENERAL PURP ACQUISITION COR | 0.7% | $5.0m | 500,000 | – | new | |
| 24 | PEAKSTONE REALTY TRUST | 0.6% | $4.8m | 336,817 | – | new | |
| 25 | CTRI CENTURI HOLDINGS INC | Utilities | 0.6% | $4.5m | 180,000 | – | new |
| 26 | WHITESTONE REIT | 0.6% | $4.5m | 322,176 | – | new | |
| 27 | SNDA SONIDA SENIOR LIVING INC | Healthcare | 0.5% | $3.5m | 106,125 | – | new |
| 28 | HIGHVIEW MERGER CORP | 0.4% | $3.0m | 300,000 | – | new | |
| 29 | ARRY ARRAY TECHNOLOGIES INC | 0.4% | $2.7m | 3,000,000 | 0% | held | |
| 30 | SHY ISHARES TR | 0.3% | $2.5m | 30,000 | 0% | held | |
| 31 | MLAB MESA LABS INC | Technology | 0.3% | $2.0m | 25,000 | – | new |
| 32 | FSLR FIRST SOLAR INC | Technology | 0.2% | $1.8m | 7,000 | – | new |
| 33 | WEAV WEAVE COMMUNICATIONS INC | Healthcare | 0.2% | $1.7m | 226,731 | – | new |
| 34 | ICLR ICON PLC | Healthcare | 0.2% | $1.5m | 8,000 | – | new |
| 35 | SGRY SURGERY PARTNERS INC | Healthcare | 0.2% | $1.3m | 84,620 | -93% | reduced |
| 36 | COO COOPER COS INC | Healthcare | 0.2% | $1.2m | 15,000 | – | new |
| 37 | AIN ALBANY INTL CORP | Consumer Cyclical | 0.1% | $1.0m | 20,000 | – | new |
| 38 | ATKR ATKORE INC | Industrials | 0.1% | $884.0k | 13,977 | – | new |
| 39 | LION LIONSGATE STUDIOS CORP | 0.1% | $871.0k | 95,400 | – | new | |
| 40 | SARO STANDARDAERO INC | Industrials | 0.1% | $717.0k | 25,000 | – | new |
| 41 | HSIC HENRY SCHEIN INC | Healthcare | 0.0% | $302.3k | 4,000 | – | new |
| 42 | ABUS ARBUTUS BIOPHARMA CORP | Healthcare | 0.0% | $287.9k | 59,853 | – | new |
| 43 | MRVI MARAVAI LIFESCIENCES HLDGS I | Healthcare | 0.0% | $262.2k | 80,668 | 290% | added |
| 44 | GSM FERROGLOBE PLC | Basic Materials | 0.0% | $46.4k | 10,000 | – | new |
| 45 | HIGHVIEW MERGER CORP | 0.0% | $40.5k | 150,000 | – | new |
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.