Irenic Capital Management LP 13F: Quarter-over-Quarter Portfolio Changes
Irenic Capital Management LP reported a disclosed portfolio value of approximately $1.4 billion in its latest SEC Form 13F-HR filing for Q2 2026, up 26.0% quarter on quarter. Over the quarter, the fund initiated 15 new positions, bought more shares in 9 holdings, trimmed 6 holdings, and exited 14 positions.
Irenic Capital Management LP's top buy was a new stake in Coupang INC (CPNG) , equal to 3.1% of the disclosed portfolio. Its top sell was Bandwidth INC (BAND 0.5 04/01/28) . The fund exited the position completely after it had accounted for 3.4% of the previous portfolio.
New PositionsQ2 2026
Securities disclosed for the first time in Q2 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| COUPANG INC | CPNG | 3.1% | History → |
| DPC HOLDINGS PLC | DPC | 3.0% | Holders → |
| MERIT MED SYS INC | MMSI | 2.7% | Holders → |
| SMARTSTOP SELF STORAG REIT I | SMA | 2.1% | Holders → |
| ATLANTA BRAVES HLDGS INC | BATRK | 1.9% | Holders → |
| PAR TECHNOLOGY CORP | UNKNOWN | 1.8% | Holders → |
| NOKIA CORP | NOK | 1.7% | Holders → |
| COMPASS INC | COMP | 1.6% | Holders → |
| GDS HLDGS LTD | GDS | 0.6% | Holders → |
| NATIONAL HEALTHCARE PPTYS IN | NHP | 0.6% | Holders → |
| ANAPTYSBIO INC | ANAB | 0.3% | Holders → |
| UNITED STS OIL FD LP | USO | 0.3% | Holders → |
| FRONTVIEW REIT INC | FVR | 0.1% | Holders → |
| IRENIC ACQUISITION CORP | IACQU | 0.0% | Holders → |
| HIGHVIEW MERGER CORP | HVMCW | 0.0% | Holders → |
Top BuysQ2 2026
The fund's top buys among existing positions in Q2 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| ATKORE INC | ATKR | +2.7% | +3531.8% | Holders → |
| ADEIA INC | ADEA | +1.1% | +217.5% | Holders → |
| SONIDA SENIOR LIVING INC | SNDA | +2.0% | +56.1% | History → |
| CENTURI HOLDINGS INC | CTRI | +0.2% | +46.2% | Holders → |
| FIRST SOLAR INC | FSLR | +0.4% | +35.8% | Holders → |
| SOTERA HEALTH CO | SHC | +0.9% | +17.9% | History → |
| BLEND LABS INC | BLND | +-0.1% | +3.6% | Holders → |
| RESERVOIR MEDIA INC | RSVR | +-1.0% | +1.3% | History → |
| INTEGER HLDGS CORP | ITGR | +-1.6% | +0.0% | History → |
Top SellsQ2 2026
The fund's top sells among positions it retained in Q2 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| APARTMENT INVT & MGMT CO | AIV | -1.6% | 72.2% | Holders → |
| WHITESTONE REIT | WSR | -1.3% | 67.7% | Holders → |
| HIGHVIEW MERGER CORP | HVMC | -0.1% | 33.3% | Holders → |
| COMPASS MINERALS INTL INC | CMP | -0.6% | 25.6% | Holders → |
| AH RLTY TR INC | AHRT | -0.3% | 16.3% | Holders → |
| DIEBOLD NIXDORF INC | DBD | -0.4% | 0.8% | Holders → |
Full ExitsQ2 2026
Positions present in the prior 13F-HR filing that no longer appear in Q2 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| BANDWIDTH INC | BAND 0.5 04/01/28 | 3.4% |
| FORWARD AIR CORP | FWRD | 1.9% |
| HEWLETT PACKARD ENTERPRISE ORD | HPE | 1.7% |
| PAR TECHNOLOGY CORP | PAR 1 01/15/30 | 1.6% |
| NEWS CORP NEW | NWS | 1.5% |
| RAYONIER ADVANCED MATLS INC | RYAM | 1.4% |
| PEAKSTONE REALTY TRUST | PKST | 1.3% |
| JANUX THERAPEUTICS INC | JANX | 1.0% |
| SURGERY PARTNERS INC | SGRY | 0.8% |
| UNIQURE NV | QURE | 0.1% |
| ATEA PHARMACEUTICALS IN | AVIR | 0.1% |
| FATE THERAPEUTICS INC | FATE | 0.1% |
| VOR BIOPHARMA INC | VOR | 0.1% |
| DEFINITIVE HEALTHCARE CORP | DH | 0.0% |
Net Portfolio Value ChangeQ2 2026
- $1.1BPrior quarter
- $1.4BCurrent quarter
- +$0.3BNet delta
- +26.0%% change
Methodology & FAQ
How Irenic Capital Management LP Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for Irenic Capital Management LP: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description, including how confidential treatment filings are handled, is documented in the Methodology.
What stocks did Irenic Capital Management LP buy in Q2 2026?
In Q2 2026, Irenic Capital Management LP initiated 15 new positions (COUPANG INC (CPNG), DPC HOLDINGS PLC (DPC), MERIT MED SYS INC (MMSI), SMARTSTOP SELF STORAG REIT I (SMA), ATLANTA BRAVES HLDGS INC (BATRK), PAR TECHNOLOGY CORP (UNKNOWN), NOKIA CORP (NOK), COMPASS INC (COMP), GDS HLDGS LTD (GDS), NATIONAL HEALTHCARE PPTYS IN (NHP), ANAPTYSBIO INC (ANAB), UNITED STS OIL FD LP (USO), FRONTVIEW REIT INC (FVR), IRENIC ACQUISITION CORP (IACQU), HIGHVIEW MERGER CORP (HVMCW)); bought more shares of ATKORE INC (ATKR), ADEIA INC (ADEA), SONIDA SENIOR LIVING INC (SNDA), CENTURI HOLDINGS INC (CTRI), FIRST SOLAR INC (FSLR) (the largest 5 of 9 adds).
What stocks did Irenic Capital Management LP sell in Q2 2026?
In Q2 2026, Irenic Capital Management LP fully sold 14 positions (BANDWIDTH INC (BAND 0.5 04/01/28), FORWARD AIR CORP (FWRD), HEWLETT PACKARD ENTERPRISE ORD (HPE), PAR TECHNOLOGY CORP (PAR 1 01/15/30), NEWS CORP NEW (NWS), RAYONIER ADVANCED MATLS INC (RYAM), PEAKSTONE REALTY TRUST (PKST), JANUX THERAPEUTICS INC (JANX), SURGERY PARTNERS INC (SGRY), UNIQURE NV (QURE), ATEA PHARMACEUTICALS IN (AVIR), FATE THERAPEUTICS INC (FATE), VOR BIOPHARMA INC (VOR), DEFINITIVE HEALTHCARE CORP (DH)); reduced holdings in APARTMENT INVT & MGMT CO (AIV), WHITESTONE REIT (WSR), HIGHVIEW MERGER CORP (HVMC), COMPASS MINERALS INTL INC (CMP), AH RLTY TR INC (AHRT) (the largest 5 of 6 reductions).
Which positions did Irenic Capital Management LP initiate in Q2 2026?
Irenic Capital Management LP established 15 new positions in Q2 2026: COUPANG INC (CPNG, 3.1%), DPC HOLDINGS PLC (DPC, 3.0%), MERIT MED SYS INC (MMSI, 2.7%), SMARTSTOP SELF STORAG REIT I (SMA, 2.1%), ATLANTA BRAVES HLDGS INC (BATRK, 1.9%), PAR TECHNOLOGY CORP (UNKNOWN, 1.8%), NOKIA CORP (NOK, 1.7%), COMPASS INC (COMP, 1.6%), GDS HLDGS LTD (GDS, 0.6%), NATIONAL HEALTHCARE PPTYS IN (NHP, 0.6%), ANAPTYSBIO INC (ANAB, 0.3%), UNITED STS OIL FD LP (USO, 0.3%), FRONTVIEW REIT INC (FVR, 0.1%), IRENIC ACQUISITION CORP (IACQU, 0.0%), HIGHVIEW MERGER CORP (HVMCW, 0.0%).
Which existing positions saw the largest allocation increases for Irenic Capital Management LP in Q2 2026?
Of 9 existing positions with share-count increases in Q2 2026, the largest were: ATKORE INC (ATKR, +2.7% weight, +3531.8% shares), ADEIA INC (ADEA, +1.1% weight, +217.5% shares), SONIDA SENIOR LIVING INC (SNDA, +2.0% weight, +56.1% shares), CENTURI HOLDINGS INC (CTRI, +0.2% weight, +46.2% shares), FIRST SOLAR INC (FSLR, +0.4% weight, +35.8% shares), SOTERA HEALTH CO (SHC, +0.9% weight, +17.9% shares), BLEND LABS INC (BLND, +-0.1% weight, +3.6% shares), RESERVOIR MEDIA INC (RSVR, +-1.0% weight, +1.3% shares), INTEGER HLDGS CORP (ITGR, +-1.6% weight, +0.0% shares).
Which positions did Irenic Capital Management LP fully exit in Q2 2026?
Irenic Capital Management LP fully exited 14 positions in Q2 2026: BANDWIDTH INC (BAND 0.5 04/01/28, last-reported weight 3.4%), FORWARD AIR CORP (FWRD, last-reported weight 1.9%), HEWLETT PACKARD ENTERPRISE ORD (HPE, last-reported weight 1.7%), PAR TECHNOLOGY CORP (PAR 1 01/15/30, last-reported weight 1.6%), NEWS CORP NEW (NWS, last-reported weight 1.5%), RAYONIER ADVANCED MATLS INC (RYAM, last-reported weight 1.4%), PEAKSTONE REALTY TRUST (PKST, last-reported weight 1.3%), JANUX THERAPEUTICS INC (JANX, last-reported weight 1.0%), SURGERY PARTNERS INC (SGRY, last-reported weight 0.8%), UNIQURE NV (QURE, last-reported weight 0.1%), ATEA PHARMACEUTICALS IN (AVIR, last-reported weight 0.1%), FATE THERAPEUTICS INC (FATE, last-reported weight 0.1%), VOR BIOPHARMA INC (VOR, last-reported weight 0.1%), DEFINITIVE HEALTHCARE CORP (DH, last-reported weight 0.0%).
Which existing positions saw the largest allocation reductions for Irenic Capital Management LP in Q2 2026?
Of 6 existing positions with share-count reductions in Q2 2026, the largest were: APARTMENT INVT & MGMT CO (AIV, -1.6% weight, -72.2% shares), WHITESTONE REIT (WSR, -1.3% weight, -67.7% shares), HIGHVIEW MERGER CORP (HVMC, -0.1% weight, -33.3% shares), COMPASS MINERALS INTL INC (CMP, -0.6% weight, -25.6% shares), AH RLTY TR INC (AHRT, -0.3% weight, -16.3% shares), DIEBOLD NIXDORF INC (DBD, -0.4% weight, -0.8% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.