Q4 2025 · 13F-HR
Irenic Capital Management LPholdings as filed
Filed 2026-02-17 · accession 0001929389-26-000002
$1.49B
Reported value
46
Positions
2025-12-31
Period end
The Brief · Irenic Capital Management LP · Q4 2025
AI · grounded in 13F
Irenic Capital Management LP established a new position in INTEGER HLDGS CORP valued at $99.1M. The fund also opened new stakes in ALKT for $48.6M and SPSC for $40.3M. On the selling side, the fund closed its positions in GO and NSA, while trimming its holding in SGRY by 92.5%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 464287955 | — | ISHARES TR RUSSELL 2000 ETF | $723.9M | 48.7% | 2,940,900 | PUT | SOLE |
| 45826H109 | ITGR | INTEGER HLDGS CORP | $99.1M | 6.67% | 1,263,663 | Common | SOLE |
| 83601L102 | SHC | SOTERA HEALTH CO | $67.0M | 4.51% | 3,798,026 | Common | SOLE |
| G8807B106 | TBPH | THERAVANCE BIOPHARMA INC | $51.7M | 3.47% | 2,760,948 | Common | SOLE |
| 01644J108 | ALKT | ALKAMI TECHNOLOGY INC | $48.6M | 3.27% | 2,106,448 | Common | SOLE |
| 98139A105 | WK | WORKIVA INC | $47.6M | 3.20% | 552,010 | Common | SOLE |
| 76119X105 | RSVR | RESERVOIR MEDIA INC | $45.3M | 3.05% | 5,986,176 | Common | SOLE |
| 253651202 | DBD | DIEBOLD NIXDORF INC | $43.7M | 2.94% | 644,057 | Common | SOLE |
| 431571108 | 9HI | HILLENBRAND INC | $42.9M | 2.88% | 1,351,604 | Common | SOLE |
| 78463M107 | SPSC | SPS COMM INC | $40.3M | 2.71% | 452,066 | Common | SOLE |
| 05988JAD5 | BAND 0.5 04/01/28 | BANDWIDTH INC | $37.0M | 2.49% | 42,173,000 | Common | SOLE |
| 939653101 | ELME | ELME COMMUNITIES | $33.2M | 2.23% | 1,909,557 | Common | SOLE |
| 34986A104 | FWRD | FORWARD AIR CORP | $30.7M | 2.07% | 1,229,819 | Common | SOLE |
| 03748R747 | AIV | APARTMENT INVT & MGMT CO | $23.1M | 1.55% | 3,890,324 | Common | SOLE |
| 65249B208 | NWS | NEWS CORP NEW | $17.6M | 1.18% | 593,809 | Common | SOLE |
| 750940108 | RAL | RALLIANT CORP | $16.9M | 1.14% | 332,042 | Common | SOLE |
| 82981J851 | SITC | SITE CTRS CORP | $16.7M | 1.13% | 2,605,378 | Common | SOLE |
| 911684108 | AD | ARRAY DIGITAL INFRASTRUCTURE | $12.6M | 0.85% | 235,294 | Common | SOLE |
| 698813102 | PZZA | PAPA JOHNS INTL INC | $12.5M | 0.84% | 325,108 | Common | SOLE |
| 87652V109 | TASK | TASKUS INC | $11.3M | 0.76% | 954,425 | Common | SOLE |
| 09352U108 | BLND | BLEND LABS INC | $9.5M | 0.64% | 3,114,949 | Common | SOLE |
| 185123106 | CWAN | CLEARWATER ANALYTICS HLDGS I | $6.0M | 0.41% | 250,000 | Common | SOLE |
| G77676123 | SAC/U | SAFEGUARD ACQUISITION CORP | $5.0M | 0.34% | 500,000 | Common | SOLE |
| G3810N122 | GPACU | GENERAL PURP ACQUISITION COR | $5.0M | 0.34% | 500,000 | Common | SOLE |
| 39818P799 | PKST | PEAKSTONE REALTY TRUST | $4.8M | 0.33% | 336,817 | Common | SOLE |
| 155923105 | CTRI | CENTURI HOLDINGS INC | $4.5M | 0.31% | 180,000 | Common | SOLE |
| 966084204 | WSR | WHITESTONE REIT | $4.5M | 0.30% | 322,176 | Common | SOLE |
| 140475203 | SNDA | SONIDA SENIOR LIVING INC | $3.5M | 0.23% | 106,125 | Common | SOLE |
| G4569C101 | HVMC | HIGHVIEW MERGER CORP | $3.0M | 0.20% | 300,000 | Common | SOLE |
| 04271TAB6 | ARRY 1 12/01/28 | ARRAY TECHNOLOGIES INC | $2.7M | 0.18% | 3,000,000 | Common | SOLE |
| 464287457 | SHY | ISHARES TR | $2.5M | 0.17% | 30,000 | Common | SOLE |
| 59064R109 | MLAB | MESA LABS INC | $2.0M | 0.13% | 25,000 | Common | SOLE |
| 336433107 | FSLR | FIRST SOLAR INC | $1.8M | 0.12% | 7,000 | Common | SOLE |
| 94724R108 | WEAV | WEAVE COMMUNICATIONS INC | $1.7M | 0.12% | 226,731 | Common | SOLE |
| G4705A100 | ICLR | ICON PLC | $1.5M | 0.10% | 8,000 | Common | SOLE |
| 86881A100 | SGRY | SURGERY PARTNERS INC | $1.3M | 0.09% | 84,620 | Common | SOLE |
| 216648501 | COO | COOPER COS INC | $1.2M | 0.08% | 15,000 | Common | SOLE |
| 012348108 | AIN | ALBANY INTL CORP | $1.0M | 0.07% | 20,000 | Common | SOLE |
| 047649108 | ATKR | ATKORE INC | $884,045 | 0.06% | 13,977 | Common | SOLE |
| 53626N102 | LION | LIONSGATE STUDIOS CORP | $871,002 | 0.06% | 95,400 | Common | SOLE |
| 85423L103 | SARO | STANDARDAERO INC | $717,000 | 0.05% | 25,000 | Common | SOLE |
| 806407102 | HSIC | HENRY SCHEIN INC | $302,320 | 0.02% | 4,000 | Common | SOLE |
| 03879J100 | ABUS | ARBUTUS BIOPHARMA CORP | $287,893 | 0.02% | 59,853 | Common | SOLE |
| 56600D107 | MRVI | MARAVAI LIFESCIENCES HLDGS I | $262,171 | 0.02% | 80,668 | Common | SOLE |
| G33856108 | GSM | FERROGLOBE PLC | $46,400 | 0.00% | 10,000 | Common | SOLE |
| G4569C119 | HVMCW | HIGHVIEW MERGER CORP | $40,545 | 0.00% | 150,000 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.