IC
Irenic Capital Management LP 13F Filing (Q2 2026) — Top Positions & Stock Picks
Irenic Capital Management LPCIK: 0001929389
Diversified strategyMomentum followerSector-focused
Total reported value
$2.1B
Reporting period: 2026-06-30 · Number of holdings: 49
Irenic Capital Management LP disclosed 49 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $2.1B and a quarterly turnover rate of 57.7%.
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Personality snowflake
- Concentration
- 29.69
- Portfolio Stability
- 57.74
- Momentum
- 100
- Sector conviction
- 91.54
- Diversification
- 94
- Sizing Uniformity
- 84.05
Irenic Capital Management LP's disclosed holdings carry a Herfindahl concentration index of 0.074 — mathematically equivalent to about 13 equally-sized positions, well below its 49 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.59), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 2.9 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Sector classification currently covers about 37% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy 46090E953
Trim SNAP
-10.2% -$21.9M
Sold out BAND 0.5 04-01-28
Sold out QQQ
New buy CPNG
New buy G2R11M108
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 47 holdings (of 49 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 20.57% | -0.53% | +9.13% | |
| 2 | ✓ | Invesco QQQ Tr Put Option 06/2 | Stock-Other | 8.33% | +8.33% | NEW | |
| 3 | SNAP | Snap Inc - A | Stock-Comm Services | 6.85% | -3.86% | -10.20% | |
| 4 | RAL | Ralliant CORP | Stock-Tech | 6.15% | +1.44% | — | |
| 5 | ITGR | Integer Holdings CORP | Stock-Healthcare | 5.67% | -1.57% | +0.05% | |
| 6 | TFX | Teleflex Inc | Stock-Healthcare | 5.30% | -1.48% | — | |
| 7 | SHC | Sotera Health Co | Stock-Other | 4.38% | +0.31% | +17.95% | |
| 8 | FSLR | First Solar Inc | Stock-Tech | 3.96% | +0.26% | +21.05% | |
| 9 | SNDA | Sonida Senior Living Inc | Stock-Other | 3.73% | +1.17% | +56.07% | |
| 10 | RSVR | Reservoir Media Inc | Stock-Other | 2.97% | -0.97% | +1.28% | |
| 11 | ALKT | Alkami Technology Inc | Stock-Other | 2.33% | -0.40% | — | |
| 12 | TBPH | Theravance Biopharma, Inc. | Stock-Other | 2.25% | -0.67% | — | |
| 13 | CPNG | Coupang Inc | Stock-Consumer Disc | 2.07% | +2.07% | NEW | |
| 14 | ✓ | Stock-Other | 1.98% | +1.98% | NEW | ||
| 15 | DBD | Diebold Nixdorf Inc | Stock-Other | 1.95% | -0.41% | -0.84% | |
| 16 | ATKR | Atkore Inc | Stock-Other | 1.85% | +1.80% | +3531.77% | |
| 17 | MMSI | Merit Medical Systems Inc | Stock-Healthcare | 1.81% | +1.81% | NEW | |
| 18 | SPSC | Sps Commerce Inc | Stock-Tech | 1.64% | -0.53% | — | |
| 19 | CMP | Compass Minerals Internation | Stock-Other | 1.60% | -0.58% | -25.58% | |
| 20 | SMA | Smartstop Self Storage Reit | Stock-Other | 1.37% | +1.37% | NEW | |
| 21 | WK | Workiva Inc | Stock-Tech | 1.29% | -0.85% | — | |
| 22 | BATRK | Atlanta Braves Holdings In-c | Stock-Other | 1.26% | +1.26% | NEW | |
| 23 | NOK | Nokia Corp-spon Adr | Stock-Tech | 1.10% | +1.10% | NEW | |
| 24 | COMP | Compass Inc - Class A | Stock-Real Estate | 1.06% | +1.06% | NEW | |
| 25 | PAR 1 01-15-30Bond | Par Technology CORP | Bond | 1.05% | -0.08% | +22.50% | |
| 26 | ADEA | Adeia Inc | Stock-Other | 1.00% | +0.69% | +217.54% | |
| 27 | AHRT | Ah Realty Trust Inc | Stock-Other | 0.99% | -0.26% | -16.28% | |
| 28 | CTRI | Centuri Holdings Inc | Stock-Other | 0.75% | +0.08% | +46.21% | |
| 29 | ✓ | Spdr S&P 500 Etf Tr Put Option | ETF-Large Cap & Growth | 0.65% | +0.65% | NEW | |
| 30 | SITC | Site Centers CORP | Stock-Other | 0.50% | -0.42% | — | |
| 31 | XLE | Ss Energy Select Sector | ETF-Other | 0.45% | +0.45% | NEW | |
| 32 | GDS | Gds Holdings LTD - Adr | Stock-Other | 0.41% | +0.41% | NEW | |
| 33 | ✓ | Stock-Other | 0.39% | +0.39% | NEW | ||
| 34 | WSR | Whitestone Reit | Stock-Other | 0.37% | -0.96% | -67.74% | |
| 35 | ✓ | Safeguard Acquisition CORP | Stock-Other | 0.25% | -0.08% | — | |
| 36 | ✓ | General Purp Acquisition Cor | Stock-Other | 0.24% | -0.09% | — | |
| 37 | ANAB | Anaptysbio Inc | Stock-Other | 0.23% | +0.23% | NEW | |
| 38 | AIV | Apartment Invt & Mgmt Co -a | Stock-Other | 0.20% | -1.13% | -72.19% | |
| 39 | USO | United States Oil Fund LP | ETF-Other | 0.20% | +0.20% | NEW | |
| 40 | BLND | Blend Labs Inc-a | Stock-Other | 0.19% | -0.05% | +3.62% | |
| 41 | PRGS 3.5 03-01-30Bond | Progress Software CORP | Bond | 0.16% | +0.16% | NEW | |
| 42 | ✓ | Highview Merger CORP | Stock-Other | 0.15% | -0.05% | -33.33% | |
| 43 | ELME | Elme Communities | Stock-Other | 0.14% | -0.11% | — | |
| 44 | SHY | Ishares 1-3 Year Treasury Bo | ETF-Gov Bonds | 0.12% | -0.04% | — | |
| 45 | FVR | Frontview Reit Inc | Stock-Other | 0.06% | +0.06% | NEW | |
| 46 | ✓ | Stock-Other | 0.03% | +0.03% | NEW | ||
| 47 | ✓ | Stock-Other | — | — | NEW |
Portfolio Performance
Performance for Q3 2026
+4.4%
Performance Last 4 Quarters
+2.5%
- Stdev
- +18.4%
- Beta
- +1.05
- Alpha
- -3.9%
- Max Drawdown
- -14.4%
- Annualized Perf
- +16.1%
- Batting Avg vs S&P
- +45.8%
- Sortino
- +1.86
- Stutzer
- +0.27
- Treynor
- +0.16
- Sterling
- +0.76
- Calmar
- +1.11
- Information Ratio
- -0.21
- Tracking Error
- +13.9%
- Stdev Down
- +8.9%
- Winning Months %
- +54.2%
- Losing Months %
- +45.8%
- Best 12 Months
- +38.9%
- Worst 12 Months
- +0.2%
- Efficiency Ratio
- +0.34
- Sharpe
- +0.9
- Stdev Sectors
- +14.5%
- Skewness
- +0.39
- Kurtosis
- -0.81
- Upside Potential
- +3.79
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Holding changes this quarter
Irenic Capital Management LP's most significant position changes for 2026-06-30: New buy: Invesco QQQ Tr Put Option 06/2; New buy: Coupang Inc (CPNG); New buy: ; New buy: Merit Medical Systems Inc (MMSI); Sold out: Bandwidth Inc (BAND 0.5 04-01-28).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ✓ | Invesco QQQ Tr Put Option 06/2 | +8.3% | NEW | New buy |
| 2 | CPNG | Coupang Inc | +2.1% | NEW | New buy |
| 3 | ✓ | +2% | NEW | New buy | |
| 4 | MMSI | Merit Medical Systems Inc | +1.8% | NEW | New buy |
| 5 | ATKR | Atkore Inc | +1.8% | +3531.77% | Add |
| 6 | RAL | Ralliant CORP | +1.4% | — | Unchanged |
| 7 | SMA | Smartstop Self Storage Reit | +1.4% | NEW | New buy |
| 8 | BATRK | Atlanta Braves Holdings In-c | +1.3% | NEW | New buy |
| 9 | SNDA | Sonida Senior Living Inc | +1.2% | +56.07% | Add |
| 10 | NOK | Nokia Corp-spon Adr | +1.1% | NEW | New buy |
| 11 | COMP | Compass Inc - Class A | +1.1% | NEW | New buy |
| 12 | ADEA | Adeia Inc | +0.7% | +217.54% | Add |
| 13 | ✓ | Spdr S&P 500 Etf Tr Put Option | +0.7% | NEW | New buy |
| 14 | XLE | Ss Energy Select Sector | +0.5% | NEW | New buy |
| 15 | GDS | Gds Holdings LTD - Adr | +0.4% | NEW | New buy |
| 16 | ✓ | +0.4% | NEW | New buy | |
| 17 | SHC | Sotera Health Co | +0.3% | +17.95% | Add |
| 18 | FSLR | First Solar Inc | +0.3% | +21.05% | Add |
| 19 | ANAB | Anaptysbio Inc | +0.2% | NEW | New buy |
| 20 | USO | United States Oil Fund LP | +0.2% | NEW | New buy |
| 21 | PRGS 3.5 03-01-30Bond | Progress Software CORP | +0.2% | NEW | New buy |
| 22 | CTRI | Centuri Holdings Inc | +0.1% | +46.21% | Add |
| 23 | FVR | Frontview Reit Inc | +0.1% | NEW | New buy |
| 24 | ✓ | 0% | NEW | New buy | |
| 25 | DH | Definitive Healthcare CORP | — | EXIT | Sold out |
| 26 | ✓ | — | NEW | New buy | |
| 27 | VOR | Vor Biopharma Inc | 0% | EXIT | Sold out |
| 28 | SHY | Ishares 1-3 Year Treasury Bo | 0% | — | Unchanged |
| 29 | BLND | Blend Labs Inc-a | -0.1% | +3.62% | Add |
| 30 | ✓ | Highview Merger CORP | -0.1% | -33.33% | Trim |
| 31 | FATE | Fate Therapeutics Inc | -0.1% | EXIT | Sold out |
| 32 | PAR 1 01-15-30Bond | Par Technology CORP | -0.1% | +22.50% | Add |
| 33 | ✓ | Safeguard Acquisition CORP | -0.1% | — | Unchanged |
| 34 | ✓ | General Purp Acquisition Cor | -0.1% | — | Unchanged |
| 35 | QURE | uniQure N.V. | -0.1% | EXIT | Sold out |
| 36 | AVIR | Atea Pharmaceuticals Inc | -0.1% | EXIT | Sold out |
| 37 | ELME | Elme Communities | -0.1% | — | Unchanged |
| 38 | SARO | Standardaero Inc | -0.2% | EXIT | Sold out |
| 39 | AHRT | Ah Realty Trust Inc | -0.3% | -16.28% | Trim |
| 40 | ALKT | Alkami Technology Inc | -0.4% | — | Unchanged |
| 41 | DBD | Diebold Nixdorf Inc | -0.4% | -0.84% | Trim |
| 42 | SITC | Site Centers CORP | -0.4% | — | Unchanged |
| 43 | IWM | Ishares Russell 2000 ETF | -0.5% | +9.13% | Add |
| 44 | SPSC | Sps Commerce Inc | -0.5% | — | Unchanged |
| 45 | SGRY | Surgery Partners Inc | -0.6% | EXIT | Sold out |
| 46 | CMP | Compass Minerals Internation | -0.6% | -25.58% | Trim |
| 47 | TBPH | Theravance Biopharma, Inc. | -0.7% | — | Unchanged |
| 48 | JANX | Janux Therapeutics Inc | -0.7% | EXIT | Sold out |
| 49 | WK | Workiva Inc | -0.9% | — | Unchanged |
| 50 | PKST | Peakstone Realty Trust | -0.9% | EXIT | Sold out |
1–50 of 62
Filing History
FAQ
What is Irenic Capital Management LP and what type of investor is it?
Irenic Capital Management LP is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $2.1B, spread across 49 disclosed positions.
What are Irenic Capital Management LP's largest equity positions?
Based on the latest 13F filing, Irenic Capital Management LP's top holdings by market value are:
1. Ishares Russell 2000 ETF (IWM) — $428.3M (20.6%)
2. Invesco QQQ Tr Put Option 06/2 — $173.3M (8.3%)
3. Snap Inc - A (SNAP) — $142.6M (6.8%)
4. Ralliant CORP (RAL) — $128.1M (6.2%)
5. Integer Holdings CORP (ITGR) — $118.1M (5.7%)
What changes did Irenic Capital Management LP make in its most recent portfolio filing?
In the latest reported quarter, Irenic Capital Management LP made 51 notable position adjustments: 18 new positions were initiated, 11 existing holdings were added to, 7 positions were partially reduced, and 15 were completely exited. The largest of these moves: New buy: Invesco QQQ Tr Put Option 06/2; New buy: Coupang Inc (CPNG); New buy: ; New buy: Merit Medical Systems Inc (MMSI); Sold out: Bandwidth Inc (BAND 0.5 04-01-28)
What sectors does Irenic Capital Management LP focus on?
Irenic Capital Management LP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 38.3%
• Health Care: 34.6%
• Communication Services: 18.6%
• Consumer Discretionary: 5.6%
• Real Estate: 2.9%
Investment Profile
Irenic Capital Management LP returned an annualized 16.1% over the trailing 24 months — underperforming the S&P 500 by 3.9 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.05 (roughly in line with the market) and a 46% quarterly batting average against the index.
Its portfolio is broadly diversified and fast-trading, with 38.3% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 58 over the past 4 quarters — a shift toward more active trading.
It has added to its RAL position over the past two quarters (+$111.2M, now $128.1M), while trimming ELME over the same stretch (-$30.4M, still holding $2.8M).
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