Irenic Capital Management LP

NEW YORK, NY · CIK 1929389 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2022 · limited partnership

Assets managed$2.4bn
Staff12 · 7 in investment roles
Main clients (by assets)Private funds 100%
Private funds10 (1 hedge) · $2.4bn gross assets
Form ADV · 2026-04-16SEC adviser record

Legal entityIRENIC CAPITAL MANAGEMENT LP (US)

$1.4bn reported value +26.0% vs Q1 2026

43positions

61.9%in top 10

15 new 10 added 6 reduced 13 sold out vs Q1 2026

Options: 3 call positions ($77.7m notional), 3 put positions ($615.2m notional) – listed below, not included above.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	SNAP INC CL A SNAP	SNAP	30,000,000	$133.2m9.59%	9.59%	Unchanged
2	RALLIANT CORP COM RAL	RAL	1,740,218	$128.1m9.22%	9.22%	Unchanged
3	INTEGER HLDGS CORP COM ITGR	ITGR	1,264,259	$118.1m8.50%	8.50%	Added +596	+596 0.1%
4	TELEFLEX INCORPORATED COM TFX	TFX	870,000	$110.3m7.94%	7.94%	Unchanged
5	SOTERA HEALTH CO COM SHC	SHC	5,141,822	$91.3m6.57%	6.57%	Added +782.5k	+782,474 17.9%
6	SONIDA SENIOR LIVING INC COM SNDA	SNDA	1,903,621	$77.7m5.59%	5.59%	Added +683.9k	+683,874 56.1%
7	RESERVOIR MEDIA INC COM RSVR	RSVR	6,260,176	$61.9m4.46%	4.46%	Added +79.0k	+79,000 1.3%
8	ALKAMI TECHNOLOGY INC COM ALKT	ALKT	2,675,151	$48.5m3.49%	3.49%	Unchanged
9	THERAVANCE BIOPHARMA INC COM 0TB	0TB	2,760,948	$46.9m3.38%	3.38%	Unchanged
10	COUPANG INC CL A CPNG	CPNG	2,484,979	$43.2m3.11%	3.11%	New
11	DPC HOLDINGS PLC ORDINARY SHARES DPC	DPC	839,816	$41.2m2.97%	2.97%	New
12	DIEBOLD NIXDORF INC COM SHS DBD	DBD	476,523	$40.5m2.92%	2.92%	Reduced -4.0k	-4,034 -0.8%
13	ATKORE INC COM ATKR	ATKR	507,613	$38.6m2.78%	2.78%	Added +493.6k	+493,636 3531.8%
14	MERIT MED SYS INC COM MMSI	MMSI	542,589	$37.6m2.71%	2.71%	New
15	SPS COMM INC COM SPSC	SPSC	597,704	$34.2m2.46%	2.46%	Unchanged
16	COMPASS MINERALS INTL INC COM CMP	CMP	1,068,378	$33.3m2.39%	2.39%	Reduced -367.2k	-367,151 -25.6%
17	SMARTSTOP SELF STORAG REIT I COMMON STOCK SMA	SMA	876,608	$28.5m2.05%	2.05%	New
18	WORKIVA INC COM CL A WK	WK	552,010	$26.8m1.93%	1.93%	Unchanged
19	ATLANTA BRAVES HLDGS INC COM SER C BATRK	BATRK	504,983	$26.2m1.89%	1.89%	New
20	FIRST SOLAR INC COM FSLR	FSLR	98,989	$23.4m1.68%	1.68%	Added +26.1k	+26,100 35.8%
21	NOKIA CORP SPONSORED ADR NOK	NOK	1,730,000	$23.0m1.65%	1.65%	New
22	COMPASS INC CL A COMP	COMP	1,796,898	$22.2m1.59%	1.59%	New
23	PAR TECHNOLOGY CORP NOTE 1.000% 1/1 PAR 1 01.15.30	PAR 1 01.15.30	27,226,000	$21.9m1.58%	1.58%	Added +5.0m	+5,000,000 22.5%
24	ADEIA INC COM ADEA	ADEA	634,772	$20.9m1.50%	1.50%	Added +434.9k	+434,872 217.5%
25	ARMADA HOFFLER PPTYS INC COM AHRT	AHRT	2,918,328	$20.7m1.49%	1.49%	Reduced -567.3k	-567,315 -16.3%
26	CENTURI HOLDINGS INC COM SHS CTRI	CTRI	518,705	$15.7m1.13%	1.13%	Added +163.9k	+163,934 46.2%
27	SITE CTRS CORP COM SITC	SITC	2,605,378	$10.3m0.74%	0.74%	Unchanged
28	GDS HLDGS LTD SPONSORED ADS GDS	GDS	283,000	$8.5m0.61%	0.61%	New
29	NATIONAL HEALTHCARE PPTYS IN COM CLASS A COM CLASS A		549,593	$8.1m0.58%	0.58%	New
30	WHITESTONE REIT COM COM		408,245	$7.7m0.56%	0.56%	Reduced -857.1k	-857,146 -67.7%
31	SAFEGUARD ACQUISITION CORP UNIT 99/99/9999 SAC.U	SAC.U	500,000	$5.1m0.37%	0.37%	Unchanged
32	GENERAL PURP ACQUISITION COR UNIT 12/03/2030 GPACU	GPACU	500,000	$5.0m0.36%	0.36%	Unchanged
33	ANAPTYSBIO INC COM ANAB	ANAB	70,447	$4.8m0.34%	0.34%	New
34	APARTMENT INVT & MGMT CO CL A AIV	AIV	1,398,460	$4.2m0.30%	0.30%	Reduced -3.6m	-3,631,061 -72.2%
35	UNITED STS OIL FD LP UNITS USO	USO	38,500	$4.1m0.29%	0.29%	New
36	BLEND LABS INC CL A BLND	BLND	2,284,101	$3.9m0.28%	0.28%	Added +79.9k	+79,901 3.6%
37	PROGRESS SOFTWARE CORP NOTE 3.500% 3/0 PRGS 3.5 03.01.30	PRGS 3.5 03.01.30	3,444,000	$3.3m0.24%	0.24%	New
38	HIGHVIEW MERGER CORP ORD SH CL A HVMC	HVMC	300,000	$3.0m0.22%	0.22%	Reduced -150.0k	-150,000 -33.3%
39	ELME COMMUNITIES SH BEN INT ELME	ELME	1,909,557	$2.8m0.20%	0.20%	Unchanged
40	ISHARES TR 1 3 YR TREAS BD SHY	SHY	30,000	$2.5m0.18%	0.18%	Unchanged
41	FRONTVIEW REIT INC COM FVR	FVR	66,608	$1.3m0.10%	0.10%	New
42	IRENIC ACQUISITION CORP UNIT 04/10/2031 IACQU	IACQU	65,700	$668.2k0.05%	0.05%	New
43	HIGHVIEW MERGER CORP *W EXP 07/24/203 HVMCW	HVMCW	150,000	$52.5k0.00%	0.00%	New

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
BANDWIDTH INC BAND 0.5 04.01.28	BAND 0.5 04.01.28	42,173,000	$37.6m42.2m shares
FORWARD AIR CORP FWRD	FWRD	1,229,819	$20.6m1.2m shares
HEWLETT PACKARD ENTERPRISE C HPE	HPE	785,000	$18.7m785.0k shares
NEWS CORP NEW NWS	NWS	593,809	$16.9m593.8k shares
RAYONIER ADVANCED MATLS INC RYAM	RYAM	1,356,166	$15.0m1.4m shares
PEAKSTONE REALTY TRUST PKST	PKST	674,700	$14.1m674.7k shares
JANUX THERAPEUTICS INC JANX	JANX	765,804	$10.6m765.8k shares
SURGERY PARTNERS INC SGRY	SGRY	711,000	$8.5m711.0k shares
UNIQURE NV QURE	QURE	100,000	$1.6m100.0k shares
ATEA PHARMACEUTICALS INC AVIR	AVIR	301,699	$1.6m301.7k shares
FATE THERAPEUTICS INC FATE	FATE	878,055	$1.1m878.1k shares
VOR BIOPHARMA INC VOR	VOR	32,663	$582.7k32.7k shares
DEFINITIVE HEALTHCARE CORP DH	DH	58,088	$71.4k58.1k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
ISHARES TR IWM · Put	IWM	Put	1,425,400	$428.3m1.4m shares	Added
INVESCO QQQ TR QQQ · Put	QQQ	Put	235,400	$173.3m235.4k shares	Added
FIRST SOLAR INC FSLR · Call	FSLR	Call	250,100	$59.0m250.1k shares	Added
SPDR S&P 500 ETF TR SPY · Put	SPY	Put	18,200	$13.6m18.2k shares	New
SNAP INC SNAP · Call	SNAP	Call	2,116,000	$9.4m2.1m shares	Reduced
SELECT SECTOR SPDR TR XLE · Call	XLE	Call	175,000	$9.3m175.0k shares	New

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
RESERVOIR MEDIA INC RSVR · 13D · filed 2026-03-02	RSVR	9.3%≈ $60.4m	+0.1 pts	13D	2026-03-02
BARNES GROUP INC B · 13D · filed 2025-01-22	B	5.1%		13D	2025-01-22