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ICM

Irenic Capital Management Portfolio holdings

AUM $1.54B
1-Year Est. Return 12.79%
This Fund
S&P 500
This Quarter Est. Return
-8.16%
1 Year Est. Return
+12.79%
3 Year Est. Return
+78.39%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.54B
AUM Growth
+$48.7M
Cap. Flow
+$252M
Cap. Flow %
16.44%
Top 10 Hldgs %
65.25%
Holding
64
New
20
Increased
13
Reduced
2
Closed
18

Top Buys

Rank Stock Value
1
SNAP icon
Snap
SNAP
+$177M
2
TFX icon
Teleflex
TFX
+$95.9M
3
RAL
Ralliant Corp
RAL
+$66.2M
4
SNDA icon
Sonida Senior Living
SNDA
+$37.3M
5
CMP icon
Compass Minerals
CMP
+$33.8M

Top Sells

Rank Stock Value
1
HI
Hillenbrand
HI
+$42.9M
2
AD
Array Digital Infrastructure
AD
+$12.6M
3
PZZA icon
Papa John's
PZZA
+$12.5M
4
DBD icon
Diebold Nixdorf
DBD
+$12M
5
TASK icon
TaskUs
TASK
+$11.3M

Sector Composition

Rank Sector Weight
1 Healthcare 25.14%
2 Technology 16.83%
3 Communication Services 14.03%
4 Real Estate 6%
5 Materials 3.16%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IWM icon
1
PUT
iShares Russell 2000 ETF
IWM
$80.5B
$324M 21.1%
+1,306,200
New +$337M
SNAP icon
2
Snap
SNAP
$7.92B
$138M 8.99%
+30,000,000
New +$177M
ITGR icon
3
Integer Holdings
ITGR
$3.41B
$111M 7.24%
1,263,663
– –
TFX icon
4
Teleflex
TFX
$5.94B
$104M 6.78%
+870,000
New +$95.9M
RAL
5
Ralliant Corp
RAL
$7.58B
$72.4M 4.71%
1,740,218
+1,408,176
+424% +$66.2M
SHC icon
6
Sotera Health
SHC
$5B
$62.5M 4.07%
4,359,348
+561,322
+15% +$9.32M
RSVR icon
7
Reservoir Media
RSVR
$733M
$60.5M 3.94%
6,181,176
+195,000
+3% +$1.62M
TBPH icon
8
Theravance Biopharma
TBPH
$876M
$44.8M 2.92%
2,760,948
– –
FSLR icon
9
CALL
First Solar
FSLR
$21.7B
$42.5M 2.77%
+215,500
New +$47.7M
ALKT icon
10
Alkami Technology
ALKT
$1.93B
$41.9M 2.73%
2,675,151
+568,703
+27% +$10.5M
SNDA icon
11
Sonida Senior Living
SNDA
$2.03B
$39.3M 2.56%
1,219,747
+1,113,622
+1,049% +$37.3M
QQQ icon
12
PUT
Invesco QQQ Trust
QQQ
$447B
$37.3M 2.43%
+64,600
New +$39.2M
DBD icon
13
Diebold Nixdorf
DBD
$3.16B
$36.3M 2.36%
480,557
-163,500
-25% -$12M
CMP icon
14
Compass Minerals
CMP
$1.23B
$33.5M 2.18%
+1,435,529
New +$33.8M
SPSC icon
15
SPS Commerce
SPSC
$2.51B
$33.3M 2.17%
597,704
+145,638
+32% +$10.5M
WK icon
16
Workiva
WK
$3.28B
$32.9M 2.14%
552,010
– –
SNAP icon
17
CALL
Snap
SNAP
$7.92B
$26.5M 1.73%
+5,764,500
New +$34M
FWRD icon
18
Forward Air
FWRD
$471M
$20.6M 1.34%
1,229,819
– –
AIV
19
Aimco
AIV
$378M
$20.5M 1.33%
5,029,521
+1,139,197
+29% +$5.96M
WSR
20
DELISTED
Whitestone REIT
WSR
$20.4M 1.33%
1,265,391
+943,215
+293% +$14.2M
AHRT
21
AH Realty Trust
AHRT
$541M
$19.2M 1.25%
+3,485,643
New +$22.3M
HPE icon
22
Hewlett Packard
HPE
$59.6B
$18.7M 1.22%
+785,000
New +$17.4M
NWS icon
23
News Corp Class B
NWS
$17.3B
$16.9M 1.1%
593,809
– –
RYAM icon
24
Rayonier Advanced Materials
RYAM
$583M
$15M 0.98%
+1,356,166
New +$12.2M
FSLR icon
25
First Solar
FSLR
$21.7B
$14.4M 0.94%
72,889
+65,889
+941% +$14.6M
1
2 3

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CET
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FBB
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Irenic Capital Management's Q1 2026 Portfolio in Review

As of Q1 2026, Irenic Capital Management held 64 positions worth $1.54B, up 3.3% from $1.49B the previous quarter. Its ten largest holdings account for 65% of the portfolio.

Irenic Capital Management deployed $252M of net new capital in Q1 2026, opening 20 new positions and adding to 13 existing holdings. Its largest new stake was Snap: 30,000,000 shares worth $138M.

By sector, the portfolio is most concentrated in Healthcare at 25% of assets, up from 15% a quarter earlier, followed by Technology and Communication Services.

On the sell side, the largest reduction was Diebold Nixdorf, an estimated $12M trimmed.

  • Irenic Capital Management's largest Q1 2026 buy was Snap: 30,000,000 shares worth $138M.
  • Irenic Capital Management added most to Ralliant Corp in Q1 2026, an estimated $66.2M increase.
  • Irenic Capital Management's biggest Q1 2026 reduction was Diebold Nixdorf, cutting an estimated $12M.
  • Irenic Capital Management fully exited Hillenbrand in Q1 2026, selling an estimated $42.9M.
  • Irenic Capital Management's ten largest holdings make up 65% of its $1.54B portfolio in Q1 2026.
  • Irenic Capital Management opened 20 new positions and closed 18 in Q1 2026.
  • Irenic Capital Management's portfolio value rose 3.3% quarter-over-quarter to $1.54B.

Based on Irenic Capital Management's 13F filing for Q1 2026, filed 18 May 2026.