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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
+7.93%
1 Year Est. Return
+12.79%
3 Year Est. Return
+78.39%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$931M
AUM Growth
-$208M
Cap. Flow
-$239M
Cap. Flow %
-25.64%
Top 10 Hldgs %
81.66%
Holding
30
New
10
Increased
7
Reduced
2
Closed
5

Top Buys

Rank Stock Value
1
KBR icon
KBR
KBR
+$35.5M
2
EDR
Endeavor Group Holdings, Inc.
EDR
+$35.1M
3
MAGN
Magnera Corp
MAGN
+$18.3M
4
TGI
Triumph Group
TGI
+$10.4M
5
ACHC icon
Acadia Healthcare
ACHC
+$6.04M

Top Sells

Rank Stock Value
1
NWS icon
News Corp Class B
NWS
+$36.8M
2
EQC
Equity Commonwealth
EQC
+$20.5M
3
TENB icon
Tenable Holdings
TENB
+$3.71M
4
IART icon
Integra LifeSciences
IART
+$214K

Sector Composition

Rank Sector Weight
1 Industrials 28.37%
2 Communication Services 19.94%
3 Healthcare 10.77%
4 Real Estate 3.72%
5 Technology 2.97%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$783B
$159M 17.05%
270,800
-137,700
-34% -$81.1M
B
2
DELISTED
Barnes Group Inc.
B
$122M 13.06%
2,572,142
– –
OEF icon
3
PUT
iShares S&P 100 ETF
OEF
$19.9B
$109M 11.76%
+495,500
New +$142M
EDR
4
DELISTED
Endeavor Group Holdings, Inc.
EDR
$95.5M 10.26%
3,051,357
+1,180,333
+63% +$35.1M
TGI
5
DELISTED
Triumph Group
TGI
$70.7M 7.59%
3,787,022
+628,296
+20% +$10.4M
RSVR icon
6
Reservoir Media
RSVR
$731M
$48.2M 5.17%
5,322,582
+10,000
+0.2% +$88.2K
NWS icon
7
News Corp Class B
NWS
$17.3B
$42M 4.51%
1,380,261
-1,220,728
-47% -$36.8M
SHC icon
8
Sotera Health
SHC
$5B
$39.8M 4.27%
2,909,163
+120,832
+4% +$1.75M
FWRD icon
9
Forward Air
FWRD
$468M
$39.7M 4.26%
1,229,719
– –
AIV
10
Aimco
AIV
$380M
$34.7M 3.72%
3,812,595
+19,577
+0.5% +$169K
KBR icon
11
KBR
KBR
$4.73B
$32.2M 3.46%
+556,144
New +$35.5M
DH icon
12
Definitive Healthcare
DH
$73.1M
$28.8M 3.09%
7,003,194
+590,009
+9% +$2.58M
DBD icon
13
Diebold Nixdorf
DBD
$3.11B
$27.3M 2.93%
633,327
+60,548
+11% +$2.73M
TBPH icon
14
Theravance Biopharma
TBPH
$875M
$26M 2.79%
2,760,948
– –
MAGN
15
Magnera Corp
MAGN
$501M
$16.3M 1.75%
+895,772
New +$18.3M
KBR icon
16
CALL
KBR
KBR
$4.73B
$6.02M 0.65%
+104,000
New +$6.63M
ACHC icon
17
Acadia Healthcare
ACHC
$2.98B
$5.31M 0.57%
+133,907
New +$6.04M
SHY icon
18
iShares 1-3 Year Treasury Bond ETF
SHY
$25.4B
$492K 0.05%
+6,000
New +$493K
ARRY icon
19
Array Technologies
ARRY
$788M
$423K 0.05%
+70,000
New +$446K
GRAL
20
GRAIL Inc
GRAL
$2.79B
$357K 0.04%
+20,000
New +$325K
FSLR icon
21
CALL
First Solar
FSLR
$21.5B
$194K 0.02%
+1,100
New +$219K
ARRY icon
22
CALL
Array Technologies
ARRY
$788M
$153K 0.02%
+25,300
New +$161K
IART icon
23
Integra LifeSciences
IART
$1.57B
– –
-11,786
Closed -$214K
IWM icon
24
PUT
iShares Russell 2000 ETF
IWM
$80.3B
– –
-1,480,200
Closed -$327M
TENB icon
25
Tenable Holdings
TENB
$3.54B
– –
-91,571
Closed -$3.71M
1
2

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Irenic Capital Management's Q4 2024 Portfolio in Review

As of Q4 2024, Irenic Capital Management held 30 positions worth $931M, down 18% from $1.14B the previous quarter. Its ten largest holdings account for 82% of the portfolio.

Irenic Capital Management withdrew a net $239M in Q4 2024, closing 5 positions and reducing 2 holdings. Its most notable exit was Equity Commonwealth, an estimated $20.5M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 28% of assets, up from 17% a quarter earlier, followed by Communication Services and Healthcare.

Against the trend, Irenic Capital Management opened a new position in KBR worth $32.2M.

  • Irenic Capital Management's largest Q4 2024 buy was KBR: 556,144 shares worth $32.2M.
  • Irenic Capital Management added most to Endeavor Group Holdings, Inc. in Q4 2024, an estimated $35.1M increase.
  • Irenic Capital Management's biggest Q4 2024 reduction was News Corp Class B, cutting an estimated $36.8M.
  • Irenic Capital Management fully exited Equity Commonwealth in Q4 2024, selling an estimated $20.5M.
  • Irenic Capital Management's ten largest holdings make up 82% of its $931M portfolio in Q4 2024.
  • Irenic Capital Management opened 10 new positions and closed 5 in Q4 2024.
  • Irenic Capital Management's portfolio value fell 18% quarter-over-quarter to $931M.

Based on Irenic Capital Management's 13F filing for Q4 2024, filed 14 Feb 2025.