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Irenic Capital Management Portfolio holdings

AUM $1.54B
1-Year Est. Return 12.79%
This Fund
S&P 500
This Quarter Est. Return
+1.5%
1 Year Est. Return
+12.79%
3 Year Est. Return
+78.39%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$660M
AUM Growth
-$271M
Cap. Flow
-$233M
Cap. Flow %
-35.28%
Top 10 Hldgs %
82.96%
Holding
32
New
7
Increased
7
Reduced
1
Closed
10

Top Buys

Rank Stock Value
1
BASE
Couchbase
BASE
+$27.7M
2
SITC icon
SITE Centers
SITC
+$21M
3
TRS icon
TriMas Corp
TRS
+$20.2M
4
BATRK icon
Atlanta Braves Holdings Series B
BATRK
+$15.4M
5
AIV
Aimco
AIV
+$7.29M

Top Sells

Rank Stock Value
1
B
Barnes Group Inc.
B
+$122M
2
EDR
Endeavor Group Holdings, Inc.
EDR
+$95.5M
3
KBR icon
KBR
KBR
+$32.2M
4
DH icon
Definitive Healthcare
DH
+$28.8M
5
NWS icon
News Corp Class B
NWS
+$20.2M

Sector Composition

Rank Sector Weight
1 Industrials 18.29%
2 Communication Services 12.04%
3 Healthcare 9.86%
4 Real Estate 9.05%
5 Technology 8.92%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
26
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$810B
– –
-270,800
Closed -$159M
GRAL
27
GRAIL Inc
GRAL
$3.1B
– –
-20,000
Closed -$357K
EDR
28
DELISTED
Endeavor Group Holdings, Inc.
EDR
– –
-3,051,357
Closed -$95.5M
B
29
DELISTED
Barnes Group Inc.
B
– –
-2,572,142
Closed -$122M
1
2

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Irenic Capital Management's Q1 2025 Portfolio in Review

As of Q1 2025, Irenic Capital Management held 32 positions worth $660M, down 29% from $931M the previous quarter. Its ten largest holdings account for 83% of the portfolio.

Irenic Capital Management withdrew a net $233M in Q1 2025, closing 10 positions and reducing 1 holding. Its most notable exit was Barnes Group Inc., an estimated $122M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 18% of assets, down from 28% a quarter earlier, followed by Communication Services and Healthcare.

Against the trend, Irenic Capital Management opened a new position in Couchbase worth $26.4M.

  • Irenic Capital Management's largest Q1 2025 buy was Couchbase: 1,673,409 shares worth $26.4M.
  • Irenic Capital Management added most to Aimco in Q1 2025, an estimated $7.29M increase.
  • Irenic Capital Management's biggest Q1 2025 reduction was News Corp Class B, cutting an estimated $20.2M.
  • Irenic Capital Management fully exited Barnes Group Inc. in Q1 2025, selling an estimated $122M.
  • Irenic Capital Management's ten largest holdings make up 83% of its $660M portfolio in Q1 2025.
  • Irenic Capital Management opened 7 new positions and closed 10 in Q1 2025.
  • Irenic Capital Management's portfolio value fell 29% quarter-over-quarter to $660M.

Based on Irenic Capital Management's 13F filing for Q1 2025, filed 15 May 2025.