Irenic Capital Management LP
Sector Allocation
- Technology36.9%$511.9M
- Healthcare35.0%$486.7M
- Communication Services7.8%$109.0M
- Real Estate7.6%$105.8M
- Materials5.4%$74.5M
- Consumer Discretionary3.1%$43.2M
- Other1.8%$24.4M
- Financials1.3%$18.0M
- Energy1.1%$15.7M
AUM History
13fpro.ai/research/fund/irenic-capital-management-lp-1929389
Conviction and streaks
Diversifying · top 10 = 61.9%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
SNAP
$133.2MRAL
$128.1MITGR
$118.1MTFX
$110.3MSHC
$91.3MSNDA
$77.7MRSVR
$61.9MALKT
$48.5MTBPH
$46.9MCPNG
$43.2MDPC
$41.2MDBD
$40.5MATKR
$38.6MMMSI
$37.6MSPSC
$34.2MCMP
$33.3MSMA
$28.5MWK
$26.8MBATRA
$26.2MFSLR
$23.4M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/irenic-capital-management-lp-1929389
Irenic Capital Management LP 13F holdings — Q2 2026
$2.1B portfolio (+35.6% QoQ) · 49 holdings · Q2 2026 13F · top 10 are 62% of the stock portfolio
Includes $692.9M of put/call options ($615.2M puts, $77.7M calls), which 13F rules report at the value of the underlying shares, not the premium at risk. Stocks alone: $1.4B. Weights use the stock portfolio.
$133.2M
9.6% of stocks
No changeThis quarter—Since Q-end—HeldAIQuality55.0#1,276Est. buy—$128.1M
9.2% of stocks
No changeThis quarter—Since Q-end—HeldAIQuality36.2#2,264Est. buy—$118.1M
8.5% of stocks
+0.0%This quarter—Since Q-end—HeldAIQuality55.5#1,234Est. buy—$110.3M
7.9% of stocks
No changeThis quarter—Since Q-end—HeldAIQuality35.1#2,306Est. buy—$91.3M
6.6% of stocks
+18%This quarter—Since Q-end—HeldAIQuality62.3#719Est. buy—$77.7M
5.6% of stocks
+56%This quarter—Since Q-end—Held$61.9M
4.5% of stocks
+1%This quarter—Since Q-end—Held$48.5M
3.5% of stocks
No changeThis quarter—Since Q-end—Held$46.9M
3.4% of stocks
No changeThis quarter—Since Q-end—Held$43.2M
3.1% of stocks
NewThis quarter—Since Q-endNew this quarterHeld
| # | Company | Value | Weight | This quarter | Since Q-end | Held | AI quality | Est. buy | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | $133.2M | 9.6% | No change | — | — | 55.0#1,276 | — | ||
| 2 | $128.1M | 9.2% | No change | — | — | 36.2#2,264 | — | ||
| 3 | $118.1M | 8.5% | +0.0% | — | — | 55.5#1,234 | — | ||
| 4 | $110.3M | 7.9% | No change | — | — | 35.1#2,306 | — | ||
| 5 | $91.3M | 6.6% | +18% | — | — | 62.3#719 | — | ||
| 6 | $77.7M | 5.6% | +56% | — | — | AI quality score is Pro: unlock with a free trial | — | ||
| 7 | $61.9M | 4.5% | +1% | — | — | AI quality score is Pro: unlock with a free trial | — | ||
| 8 | $48.5M | 3.5% | No change | — | — | AI quality score is Pro: unlock with a free trial | — | ||
| 9 | $46.9M | 3.4% | No change | — | — | AI quality score is Pro: unlock with a free trial | — | ||
| 10 | $43.2M | 3.1% | New | — | New this quarter | AI quality score is Pro: unlock with a free trial | — |
All holdings — Irenic Capital Management LP (Q2 2026)
49 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | — PUT | ISHARES TR - RUSSELL 2000 ETF | — | $428.3M | — | 1.43M | +9% | — | — | 13F |
| 12 | INVESCO QQQ TRUST, SERIES 1 | — | $173.3M | — | 235K | +264% | — | — | 13F | |
| 13 | FIRST SOLAR, INC. | Technology | $59.0M | — | 250K | +16% | — | — | 13F | |
| 14 | DPC Holdings PLC | Materials | $41.2M | 3.0% | 840K | New | — | — | 13F | |
| 15 | DIEBOLD NIXDORF, Inc | Technology | $40.5M | 2.9% | 477K | -0.8% | — | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | Atkore Inc. | Technology | $38.6M | 2.8% | 508K | +3532% | — | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | MERIT MEDICAL SYSTEMS INC | Healthcare | $37.6M | 2.7% | 543K | New | — | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | SPS COMMERCE INC | Technology | $34.2M | 2.5% | 598K | — | — | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | COMPASS MINERALS INTERNATIONAL INC | Materials | $33.3M | 2.4% | 1.07M | -26% | — | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | SmartStop Self Storage REIT, Inc. | Real Estate | $28.5M | 2.0% | 877K | New | — | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | WORKIVA INC | Technology | $26.8M | 1.9% | 552K | — | — | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | Atlanta Braves Holdings, Inc. | Communication Services | $26.2M | 1.9% | 505K | New | — | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | FIRST SOLAR, INC. | Technology | $23.4M | 1.7% | 99K | +36% | — | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | NOKIA CORPadr | Technology | $23.0M | 1.6% | 1.73M | New | — | — | 13F | |
| 25 | Compass, Inc. | Real Estate | $22.2M | 1.6% | 1.80M | New | — | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | — | PAR TECHNOLOGY CORP - NOTE 1.000% 1/1 | — | $21.9M | 1.6% | 27.23M | +22% | |||
| 27 | $ADEA | Adeia Inc. | Communication Services | $20.9M | 1.5% | 635K | +218% | |||
| 28 | $AHRT | AH Realty Trust, Inc. | Real Estate | $20.7M | 1.5% | 2.92M | -16% | |||
| 29 | $CTRI | Centuri Holdings, Inc. | Energy | $15.7M | 1.1% | 519K | +46% | |||
| 30 | $SPY PUT | SPDR S&P 500 ETF TRUST | — | $13.6M | — | 18K | New | |||
| 31 | $SITC | SITE Centers Corp. | Real Estate | $10.3M | 0.7% | 2.61M | — | |||
| 32 | $SNAP CALL | Snap Inc | Technology | $9.4M | — | 2.12M | -63% | |||
| 33 | — CALL | SELECT SECTOR SPDR TR - ST STR ENERG ETF | — | $9.3M | — | 175K | New | |||
| 34 | $GDS | GDS Holdings Ltd | Technology | $8.5M | 0.6% | 283K | New | |||
| 35 | $NHP | National Healthcare Properties, Inc. | Real Estate | $8.1M | 0.6% | 550K | New | |||
| 36 | $WSR | Whitestone REIT | Real Estate | $7.7M | 0.6% | 408K | -68% | |||
| 37 | $SAC | Safeguard Acquisition Corp. | Financials | $5.1M | 0.4% | 500K | — | |||
| 38 | $GPAC | General Purpose Acquisition Corp. | Financials | $5.0M | 0.4% | 500K | — | |||
| 39 | $ANAB | ANAPTYSBIO, INC | Healthcare | $4.8M | 0.3% | 70K | New | |||
| 40 | $AIV | APARTMENT INVESTMENT & MANAGEMENT CO | Real Estate | $4.2M | 0.3% | 1.40M | -72% | |||
| 41 | $USO | United States Oil Fund, LP | Financials | $4.1M | 0.3% | 39K | New | |||
| 42 | $BLND | Blend Labs, Inc. | Technology | $3.9M | 0.3% | 2.28M | +4% | |||
| 43 | $PRGS | PROGRESS SOFTWARE CORP /MA | Technology | $3.3M | 0.2% | 3.44M | New | |||
| 44 | $HVMC | Highview Merger Corp. | Financials | $3.0M | 0.2% | 300K | -33% | |||
| 45 | $ELME | Elme Communities | Real Estate | $2.8M | 0.2% | 1.91M | — | |||
| 46 | — | ISHARES TR - 1 3 YR TREAS BD | — | $2.5M | 0.2% | 30K | — | |||
| 47 | $FVR | FrontView REIT, Inc. | Real Estate | $1.3M | 0.1% | 67K | New | |||
| 48 | $IACQ | Irenic Acquisition Corp. | Financials | $668K | 0.1% | 66K | New | |||
| 49 | $HVMC | Highview Merger Corp. | Financials | $53K | 0.0% | 150K | New |
What changed in Q2 2026
Against the previous quarter's 13F: 16 new, 13 added to, 7 trimmed, 14 sold out. Share-count changes; largest moves by dollar size first.
New positions (16)
first bought this quarter
first bought this quarter
first bought this quarter
first bought this quarter
first bought this quarter
$NOKNOKIA CORP$23.0M
first bought this quarter
+10 more in the Excel export
Added to (13)
$QQQPUTINVESCO QQQ TRUST, SERIES 1+264%
now $173.3M
now $38.6M
- PUTISHARES TR - RUSSELL 2000 ETF+9%
now $428.3M
now $77.7M
$ADEAAdeia Inc.+218%
now $20.9M
now $91.3M
+7 more in the Excel export
Trimmed (7)
$WSRWhitestone REIT-68%
now $7.7M
now $9.4M
now $33.3M
$AIVAPARTMENT INVESTMENT & MANAGEMENT CO-72%
now $4.2M
$AHRTAH Realty Trust, Inc.-16%
now $20.7M
$HVMCHighview Merger Corp.-33%
now $3.0M
+1 more in the Excel export
Sold out (14)
$BANDBandwidth Inc.was $37.6M
held 9+ qtrs
$FWRDFORWARD AIR CORPwas $20.6M
held 4 qtrs
$HPEHewlett Packard Enterprise Cowas $18.7M
held 1 qtr
$NWSNEWS CORPwas $16.9M
held 9+ qtrs
$RYAMRAYONIER ADVANCED MATERIALS INC.was $15.0M
held 1 qtr
$PKSTPeakstone Realty Trustwas $14.1M
+8 more in the Excel export
Holdings by quarter
Every 13F Irenic Capital Management LP has filed, 14 earlier quarters. Pick one to see what it held then.
Portfolio Overview
Irenic Capital Management LP disclosed 49 positions worth $2.1B in its Form 13F-HR for Q2 2026 — $1.4B in common stock plus $692.9M of put/call option positions (reported at underlying notional value, not premium at risk), led by $SNAP (Snap Inc) at 9.6% of the equity portfolio, followed by $RAL and $ITGR. During the quarter the fund opened 16 new positions and exited 14 — including a new stake in $CPNG and a full exit from $BAND. The portfolio is most concentrated in Technology (36.9% of disclosed assets). All figures are sourced directly from Irenic Capital Management LP’s Form 13F-HR filing with the SEC under CIK 1929389.
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