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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
+18.65%
1 Year Est. Return
+12.79%
3 Year Est. Return
+78.39%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$505M
AUM Growth
+$152M
Cap. Flow
+$45.8M
Cap. Flow %
9.08%
Top 10 Hldgs %
86.04%
Holding
28
New
5
Increased
7
Reduced
5
Closed
8

Top Buys

Rank Stock Value
1
B
Barnes Group Inc.
B
+$41.3M
2
SHC icon
Sotera Health
SHC
+$16.1M
3
AIV
Aimco
AIV
+$15.7M
4
ENV
ENVESTNET, INC.
ENV
+$11.7M
5
RSVR icon
Reservoir Media
RSVR
+$3.29M

Top Sells

Rank Stock Value
1
AYX
Alteryx Inc
AYX
+$4.83M
2
MASI
Masimo
MASI
+$4.15M
3
JRVR icon
James River Group Holdings
JRVR
+$2.03M
4
BLND icon
Blend Labs
BLND
+$1.8M
5
ENFN
Enfusion, Inc.
ENFN
+$1.43M

Sector Composition

Rank Sector Weight
1 Communication Services 47.55%
2 Healthcare 13.61%
3 Industrials 12.18%
4 Real Estate 6.5%
5 Technology 3.79%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NWS icon
1
News Corp Class B
NWS
$17.3B
$134M 26.64%
5,226,744
+35,739
+0.7% +$809K
NWSA icon
2
News Corp Class A
NWSA
$15.3B
$80.3M 15.91%
3,270,942
-9,993
-0.3% -$217K
B
3
DELISTED
Barnes Group Inc.
B
$47.2M 9.36%
+1,447,093
New +$41.3M
SHC icon
4
Sotera Health
SHC
$5B
$37.6M 7.46%
2,233,195
+1,134,039
+103% +$16.1M
TBPH icon
5
Theravance Biopharma
TBPH
$875M
$31M 6.15%
2,760,948
– –
RSVR icon
6
Reservoir Media
RSVR
$731M
$24.7M 4.89%
3,460,501
+540,360
+19% +$3.29M
IWM icon
7
PUT
iShares Russell 2000 ETF
IWM
$80.3B
$23.8M 4.72%
118,600
-13,900
-10% -$2.49M
AIV
8
Aimco
AIV
$378M
$21.8M 4.32%
2,780,939
+2,319,208
+502% +$15.7M
SPY icon
9
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$783B
$19M 3.77%
+40,000
New +$17.8M
DBD icon
10
Diebold Nixdorf
DBD
$3.11B
$14.3M 2.83%
493,253
+89,496
+22% +$2.04M
ENV
11
DELISTED
ENVESTNET, INC.
ENV
$14.2M 2.82%
+287,155
New +$11.7M
OUT icon
12
Outfront Media
OUT
$5.66B
$11M 2.18%
800,958
+166,353
+26% +$1.88M
ESGR
13
DELISTED
Enstar Group
ESGR
$10.5M 2.08%
35,629
+2,082
+6% +$544K
BLND icon
14
Blend Labs
BLND
$436M
$2.93M 0.58%
1,150,685
-1,190,609
-51% -$1.8M
JRVR icon
15
James River Group Holdings
JRVR
$222M
$2.08M 0.41%
224,871
-177,200
-44% -$2.03M
GB
16
DELISTED
Global Blue Group Holding
GB
$1.92M 0.38%
405,885
-25,758
-6% -$129K
CCOI icon
17
Cogent Communications
CCOI
$637M
$537K 0.11%
+7,056
New +$471K
TLT icon
18
iShares 20+ Year Treasury Bond ETF
TLT
$43.1B
$297K 0.06%
+3,000
New +$271K
AMBP icon
19
Ardagh Metal Packaging
AMBP
$3.02B
– –
-48,565
Closed -$152K
DLR icon
20
PUT
Digital Realty Trust
DLR
$71.9B
– –
-22,500
Closed -$2.72M
MASI
21
DELISTED
Masimo
MASI
– –
-47,309
Closed -$4.15M
ENFN
22
DELISTED
Enfusion, Inc.
ENFN
– –
-159,778
Closed -$1.43M
AYX
23
DELISTED
Alteryx Inc
AYX
– –
-128,081
Closed -$4.83M

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Irenic Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Irenic Capital Management held 28 positions worth $505M, up 43% from $352M the previous quarter. Its ten largest holdings account for 86% of the portfolio.

Irenic Capital Management deployed $45.8M of net new capital in Q4 2023, opening 5 new positions and adding to 7 existing holdings. Its largest new stake was Barnes Group Inc.: 1,447,093 shares worth $47.2M.

By sector, the portfolio is most concentrated in Communication Services at 48% of assets, down from 54% a quarter earlier, followed by Healthcare and Industrials.

On the sell side, the largest reduction was James River Group Holdings, an estimated $2.03M trimmed.

  • Irenic Capital Management's largest Q4 2023 buy was Barnes Group Inc.: 1,447,093 shares worth $47.2M.
  • Irenic Capital Management added most to Sotera Health in Q4 2023, an estimated $16.1M increase.
  • Irenic Capital Management's biggest Q4 2023 reduction was James River Group Holdings, cutting an estimated $2.03M.
  • Irenic Capital Management fully exited Alteryx Inc in Q4 2023, selling an estimated $4.83M.
  • Irenic Capital Management's ten largest holdings make up 86% of its $505M portfolio in Q4 2023.
  • Irenic Capital Management opened 5 new positions and closed 8 in Q4 2023.
  • Irenic Capital Management's portfolio value rose 43% quarter-over-quarter to $505M.

Based on Irenic Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.