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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
+3.79%
1 Year Est. Return
+12.79%
3 Year Est. Return
+78.39%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$491M
AUM Growth
-$13.9M
Cap. Flow
-$52.7M
Cap. Flow %
-10.75%
Top 10 Hldgs %
92.9%
Holding
27
New
5
Increased
9
Reduced
1
Closed
6

Top Buys

Rank Stock Value
1
B
Barnes Group Inc.
B
+$38.7M
2
MODN
MODEL N, INC.
MODN
+$14.1M
3
AIV
Aimco
AIV
+$6.8M
4
SHC icon
Sotera Health
SHC
+$5.5M
5
RSVR icon
Reservoir Media
RSVR
+$5.13M

Top Sells

Rank Stock Value
1
NWSA icon
News Corp Class A
NWSA
+$80.3M
2
NWS icon
News Corp Class B
NWS
+$48.1M
3
ENV
ENVESTNET, INC.
ENV
+$14.2M
4
OUT icon
Outfront Media
OUT
+$11M
5
BLND icon
Blend Labs
BLND
+$2.93M

Sector Composition

Rank Sector Weight
1 Communication Services 29.19%
2 Industrials 19.47%
3 Healthcare 11.81%
4 Real Estate 6.13%
5 Technology 4.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IWM icon
1
PUT
iShares Russell 2000 ETF
IWM
$80.4B
$100M 20.38%
475,500
+356,900
+301% +$71.2M
B
2
DELISTED
Barnes Group Inc.
B
$95.6M 19.47%
2,572,142
+1,125,049
+78% +$38.7M
NWS icon
3
News Corp Class B
NWS
$17.2B
$92.2M 18.79%
3,408,019
-1,818,725
-35% -$48.1M
RSVR icon
4
Reservoir Media
RSVR
$731M
$33.2M 6.76%
4,181,252
+720,751
+21% +$5.13M
SHC icon
5
Sotera Health
SHC
$5.06B
$31.3M 6.37%
2,602,959
+369,764
+17% +$5.5M
AIV
6
Aimco
AIV
$375M
$30.1M 6.13%
3,671,789
+890,850
+32% +$6.8M
TBPH icon
7
Theravance Biopharma
TBPH
$875M
$24.8M 5.05%
2,760,948
– –
DBD icon
8
Diebold Nixdorf
DBD
$3.14B
$17.5M 3.58%
509,502
+16,249
+3% +$522K
MODN
9
DELISTED
MODEL N, INC.
MODN
$15.2M 3.1%
+534,035
New +$14.1M
ESGR
10
DELISTED
Enstar Group
ESGR
$11.6M 2.37%
37,425
+1,796
+5% +$514K
LOGC
11
DELISTED
ContextLogic
LOGC
$3.11M 0.63%
+546,343
New +$3.01M
CCOI icon
12
Cogent Communications
CCOI
$649M
$2.65M 0.54%
40,510
+33,454
+474% +$2.44M
GB
13
DELISTED
Global Blue Group Holding
GB
$2.26M 0.46%
430,885
+25,000
+6% +$116K
ATMU icon
14
Atmus Filtration Technologies
ATMU
$4.45B
$2.21M 0.45%
+68,619
New +$1.64M
KLRS
15
Kalaris Therapeutics
KLRS
$79.5M
$1.95M 0.4%
+112,156
New +$1.83M
PGRU
16
DELISTED
PropertyGuru Group Limited
PGRU
$381K 0.08%
+100,496
New +$347K
TLT icon
17
iShares 20+ Year Treasury Bond ETF
TLT
$43.1B
$284K 0.06%
3,000
– –
BLND icon
18
Blend Labs
BLND
$433M
– –
-1,150,685
Closed -$2.93M
JRVR icon
19
James River Group Holdings
JRVR
$221M
– –
-224,871
Closed -$2.08M
NWSA icon
20
News Corp Class A
NWSA
$15.3B
– –
-3,270,942
Closed -$80.3M
OUT icon
21
Outfront Media
OUT
$5.72B
– –
-800,958
Closed -$11M
SPY icon
22
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$783B
– –
-40,000
Closed -$19M
ENV
23
DELISTED
ENVESTNET, INC.
ENV
– –
-287,155
Closed -$14.2M

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CET
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FBB
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CCP
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Irenic Capital Management's Q1 2024 Portfolio in Review

As of Q1 2024, Irenic Capital Management held 27 positions worth $491M, down 2.8% from $505M the previous quarter. Its ten largest holdings account for 93% of the portfolio.

Irenic Capital Management withdrew a net $52.7M in Q1 2024, closing 6 positions and reducing 1 holding. Its most notable exit was News Corp Class A, an estimated $80.3M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 29% of assets, down from 48% a quarter earlier, followed by Industrials and Healthcare.

Against the trend, Irenic Capital Management opened a new position in MODEL N, INC. worth $15.2M.

  • Irenic Capital Management's largest Q1 2024 buy was MODEL N, INC.: 534,035 shares worth $15.2M.
  • Irenic Capital Management added most to Barnes Group Inc. in Q1 2024, an estimated $38.7M increase.
  • Irenic Capital Management's biggest Q1 2024 reduction was News Corp Class B, cutting an estimated $48.1M.
  • Irenic Capital Management fully exited News Corp Class A in Q1 2024, selling an estimated $80.3M.
  • Irenic Capital Management's ten largest holdings make up 93% of its $491M portfolio in Q1 2024.
  • Irenic Capital Management opened 5 new positions and closed 6 in Q1 2024.
  • Irenic Capital Management's portfolio value fell 2.8% quarter-over-quarter to $491M.

Based on Irenic Capital Management's 13F filing for Q1 2024, filed 14 May 2024.