Irenic Capital Management LP — Quarter-over-Quarter 13F Allocation Shifts Q1 2026
In Q1 2026, Irenic Capital Management LP initiated 14 new positions, increased allocation to 10 existing positions, trimmed 2 positions, and exited 18 positions entirely. The fund's 13F equity book grew from $0.76B to $1.10B (+44.5% QoQ) . All deltas are sourced from sequential SEC Form 13F-HR filings; share-count changes reflect explicit trading activity, while weight changes can also include price movement. This page lists every position change reported — the portfolio overview shows a summary of the top shifts.
Net Portfolio Value Change
- $0.76BPrior quarter
- $1.10BCurrent quarter
- + $0.34BNet delta
- +44.5%% change
New Position Initiations Q1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Allocation Weight | History |
|---|---|---|---|
| SNAP INC | SNAP | 12.52% | History → |
| TELEFLEX INCORPORATED | TFX | 9.44% | History → |
| COMPASS MINERALS INTL INC | CMP | 3.04% | Holders → |
| AH RLTY TR INC | AHRT | 1.74% | Holders → |
| HEWLETT PACKARD ENTERPRISE CO | HPE | 1.70% | Holders → |
| PAR TECHNOLOGY CORP | UNKNOWN | 1.57% | Holders → |
| RAYONIER ADVANCED MATLS INC | RYAM | 1.36% | Holders → |
| JANUX THERAPEUTICS INC | JANX | 0.97% | Holders → |
| ADEIA INC | ADEA | 0.44% | Holders → |
| UNIQURE NV | QURE | 0.15% | Holders → |
| ATEA PHARMACEUTICALS IN | AVIR | 0.15% | Holders → |
| FATE THERAPEUTICS INC | FATE | 0.10% | Holders → |
| VOR BIOPHARMA INC | VOR | 0.05% | Holders → |
| DEFINITIVE HEALTHCARE CORP | DH | 0.01% | Holders → |
Largest Allocation Increases Q1 2026
Largest portfolio-weight increases in existing positions. Share-count delta is shown separately so price-only re-weighting can be distinguished from active adds.
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| SONIDA SENIOR LIVING ORD | SNDA | +3.11% | +1049.35% | History → |
| FIRST SOLAR INC | FSLR | +1.06% | +941.27% | Holders → |
| SURGERY PARTNERS INC | SGRY | +0.60% | +740.23% | Holders → |
| RALLIANT CORP | RAL | +4.35% | +424.10% | History → |
| WHITESTONE REIT | WSR | +1.27% | +292.76% | Holders → |
| PEAKSTONE REALTY TRUST | PKST | +0.64% | +100.32% | Holders → |
| CENTURI HOLDINGS ORD | CTRI | +0.34% | +97.09% | Holders → |
| HIGHVIEW MERGER CORP | HVMC | +-0.12% | +50.00% | Holders → |
| SPS COMM INC | SPSC | +-2.26% | +32.22% | Holders → |
| APARTMENT INVT & MGMT CO | AIV | +-1.17% | +29.28% | Holders → |
Largest Allocation Reductions Q1 2026
Largest portfolio-weight decreases in existing positions (positions kept open at a lower allocation).
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| BLEND LABS INC | BLND | -0.90% | -29.24% | Holders → |
| DIEBOLD NIXDORF INC | DBD | -2.44% | -25.39% | History → |
Exited Positions Q1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| HILLENBRAND INC | SYN_431571108 | 5.62% |
| ARRAY DIGITAL INFRASTRUCTURE | AD | 1.65% |
| PAPA JOHNS INTL INC | PZZA | 1.64% |
| TASKUS INC | TASK | 1.48% |
| CLEARWATER ANALYTICS HLDGS I | CWAN | 0.79% |
| ARRAY TECHNOLOGIES INC | SYN_04271TAB6 | 0.36% |
| MESA LABS INC | MLAB | 0.26% |
| WEAVE COMMUNICATIONS INC | WEAV | 0.23% |
| ICON PLC (ICLR) | ICLR | 0.19% |
| COOPER COMPANIES | COO | 0.16% |
| ALBANY INTL CORP | AIN | 0.13% |
| LIONSGATE STUDIOS CORP | LION | 0.11% |
| STANDARDAERO INC | SARO | 0.09% |
| HENRY SCHEIN INC | HSIC | 0.04% |
| ARBUTUS BIOPHARMA CORP | ABUS | 0.04% |
| MARAVAI LIFESCIENCES HLDGS I | MRVI | 0.03% |
| FERROGLOBE PLC | GSM | 0.01% |
| HIGHVIEW MERGER CORP | HVMCW | 0.01% |
Methodology & FAQ
How Irenic Capital Management LP Quarterly Changes Are Computed
Each row above is computed by joining the most recent 13F-HR filing for Irenic Capital Management LP against the immediately preceding quarterly filing for the same fund. Portfolio weights are normalized to exclude listed options for comparability. A complete description of the methodology — including how confidential treatment filings are handled and why share count rather than weight is the cleaner trading signal — is documented in the Methodology.
Which positions did Irenic Capital Management LP initiate in Q1 2026?
Irenic Capital Management LP established 14 new positions in Q1 2026: SNAP INC (SNAP, 12.52%), TELEFLEX INCORPORATED (TFX, 9.44%), COMPASS MINERALS INTL INC (CMP, 3.04%), AH RLTY TR INC (AHRT, 1.74%), HEWLETT PACKARD ENTERPRISE CO (HPE, 1.70%), PAR TECHNOLOGY CORP (UNKNOWN, 1.57%), RAYONIER ADVANCED MATLS INC (RYAM, 1.36%), JANUX THERAPEUTICS INC (JANX, 0.97%), ADEIA INC (ADEA, 0.44%), UNIQURE NV (QURE, 0.15%), ATEA PHARMACEUTICALS IN (AVIR, 0.15%), FATE THERAPEUTICS INC (FATE, 0.10%), VOR BIOPHARMA INC (VOR, 0.05%), DEFINITIVE HEALTHCARE CORP (DH, 0.01%).
Which existing positions saw the largest allocation increases for Irenic Capital Management LP in Q1 2026?
The largest portfolio-weight increases in existing positions were: SONIDA SENIOR LIVING ORD (SNDA, +3.11% weight, +1049.35% shares), FIRST SOLAR INC (FSLR, +1.06% weight, +941.27% shares), SURGERY PARTNERS INC (SGRY, +0.60% weight, +740.23% shares), RALLIANT CORP (RAL, +4.35% weight, +424.10% shares), WHITESTONE REIT (WSR, +1.27% weight, +292.76% shares), PEAKSTONE REALTY TRUST (PKST, +0.64% weight, +100.32% shares), CENTURI HOLDINGS ORD (CTRI, +0.34% weight, +97.09% shares), HIGHVIEW MERGER CORP (HVMC, +-0.12% weight, +50.00% shares), SPS COMM INC (SPSC, +-2.26% weight, +32.22% shares), APARTMENT INVT & MGMT CO (AIV, +-1.17% weight, +29.28% shares).
Which positions did Irenic Capital Management LP fully exit in Q1 2026?
Irenic Capital Management LP fully exited 18 positions in Q1 2026: HILLENBRAND INC (SYN_431571108, last-reported weight 5.62%), ARRAY DIGITAL INFRASTRUCTURE (AD, last-reported weight 1.65%), PAPA JOHNS INTL INC (PZZA, last-reported weight 1.64%), TASKUS INC (TASK, last-reported weight 1.48%), CLEARWATER ANALYTICS HLDGS I (CWAN, last-reported weight 0.79%), ARRAY TECHNOLOGIES INC (SYN_04271TAB6, last-reported weight 0.36%), MESA LABS INC (MLAB, last-reported weight 0.26%), WEAVE COMMUNICATIONS INC (WEAV, last-reported weight 0.23%), ICON PLC (ICLR) (ICLR, last-reported weight 0.19%), COOPER COMPANIES (COO, last-reported weight 0.16%), ALBANY INTL CORP (AIN, last-reported weight 0.13%), LIONSGATE STUDIOS CORP (LION, last-reported weight 0.11%), STANDARDAERO INC (SARO, last-reported weight 0.09%), HENRY SCHEIN INC (HSIC, last-reported weight 0.04%), ARBUTUS BIOPHARMA CORP (ABUS, last-reported weight 0.04%), MARAVAI LIFESCIENCES HLDGS I (MRVI, last-reported weight 0.03%), FERROGLOBE PLC (GSM, last-reported weight 0.01%), HIGHVIEW MERGER CORP (HVMCW, last-reported weight 0.01%).
Which existing positions saw the largest allocation reductions for Irenic Capital Management LP in Q1 2026?
The largest portfolio-weight reductions in positions kept open were: BLEND LABS INC (BLND, -0.90% weight, -29.24% shares), DIEBOLD NIXDORF INC (DBD, -2.44% weight, -25.39% 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.