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ICM
Irenic Capital Management Portfolio holdings
AUM
$2.08B
1-Year Est. Return
19.87%
This Fund
S&P 500
This Quarter
Est. Return
+17.05%
1 Year Est. Return
+19.87%
3 Year Est. Return
+93.64%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$2.08B
AUM Growth
+$547M
(+36%)
Cap. Flow
+$155M
Cap. Flow
% of AUM
7.44%
Top 10 Holdings %
Top 10 Hldgs %
66.34%
Holding
63
New
17
Increased
13
Reduced
7
Closed
14
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Coupang
CPNG
|
+$44.9M |
| 2 |
DPC
DPC Holdings PLC
DPC
|
+$40.9M |
| 3 |
Atkore
ATKR
|
+$37.2M |
| 4 |
Merit Medical Systems
MMSI
|
+$35.8M |
| 5 |
SMA
SmartStop Self Storage REIT
SMA
|
+$27.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Forward Air
FWRD
|
+$20.6M |
| 2 |
Hewlett Packard
HPE
|
+$18.7M |
| 3 |
News Corp Class B
NWS
|
+$16.9M |
| 4 |
WSR
Whitestone REIT
WSR
|
+$16.1M |
| 5 |
Rayonier Advanced Materials
RYAM
|
+$15M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 35.33% |
| 2 | Healthcare | 23.37% |
| 3 | Technology | 17.18% |
| 4 | Communication Services | 10.63% |
| 5 | Real Estate | 5.08% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
51
Forward Air
FWRD
$562M
| – | – |
-1,229,819
| Closed | -$20.6M |
|
|
52
Hewlett Packard
HPE
$82.4B
| – | – |
-785,000
| Closed | -$18.7M |
|
53
Janux Therapeutics
JANX
$1.05B
| – | – |
-765,804
| Closed | -$10.6M |
|
|
54
News Corp Class B
NWS
$17.5B
| – | – |
-593,809
| Closed | -$16.9M |
|
|
PKST
55
DELISTED
Peakstone Realty Trust
PKST
| – | – |
-674,700
| Closed | -$14.1M |
|
56
uniQure
QURE
$3.09B
| – | – |
-100,000
| Closed | -$1.64M |
|
|
57
Rayonier Advanced Materials
RYAM
$575M
| – | – |
-1,356,166
| Closed | -$15M |
|
58
Surgery Partners
SGRY
$1.88B
| – | – |
-711,000
| Closed | -$8.48M |
|
59
Vor Biopharma
VOR
$1.32B
| – | – |
-32,663
| Closed | -$583K |
|
|
SARO
60
CALL
StandardAero Inc
SARO
$7.96B
| – | – |
-99,800
| Closed | -$2.58M |
|
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Irenic Capital Management's Q2 2026 Portfolio in Review
As of Q2 2026, Irenic Capital Management held 63 positions worth $2.08B, up 36% from $1.54B the previous quarter. Its ten largest holdings account for 66% of the portfolio.
Irenic Capital Management deployed $155M of net new capital in Q2 2026, opening 17 new positions and adding to 13 existing holdings. Its largest new stake was Coupang: 2,484,979 shares worth $43.2M.
By sector, the portfolio is most concentrated in Miscellaneous at 35% of assets, up from 33% a quarter earlier, followed by Healthcare and Technology.
On the sell side, the largest reduction was Whitestone REIT, an estimated $16.1M trimmed.
- Irenic Capital Management's largest Q2 2026 buy was Coupang: 2,484,979 shares worth $43.2M.
- Irenic Capital Management added most to Atkore in Q2 2026, an estimated $37.2M increase.
- Irenic Capital Management's biggest Q2 2026 reduction was Whitestone REIT, cutting an estimated $16.1M.
- Irenic Capital Management fully exited Forward Air in Q2 2026, selling an estimated $20.6M.
- Irenic Capital Management's ten largest holdings make up 66% of its $2.08B portfolio in Q2 2026.
- Irenic Capital Management opened 17 new positions and closed 14 in Q2 2026.
- Irenic Capital Management's portfolio value rose 36% quarter-over-quarter to $2.08B.
Based on Irenic Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.