Irenic Capital Management LP In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Irenic Capital Management LP reported 42 stock positions worth $1.4 billion . Its top holding was Snap Class A (SNAP) at 9.6% of the portfolio, followed by Ralliant (RAL, 9.2% ) and Integer (ITGR, 8.5% ). Compared with Q1 2026, it opened 14 new positions, sold out of 13, added to 10 and reduced 6. The biggest buy was a new position in Coupang (CPNG) and the biggest sale an exit from Bandwidth Inc. (band 0.5 04/01/28) .
Location NEW YORK, NY
CIK 0001929389
Portfolio Value $1.4B (Q2 2026) Holdings 42 stocks · $1.4B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2026 SNAP Snap Inc. Class A 30,000,000 $133.2M No change RAL Ralliant Corp. 1,740,218 $128.1M No change ITGR Integer Holdings Corp. 1,264,259 $118.1M Add +0.1% TFX Teleflex Inc. 870,000 $110.3M No change SHC Sotera Health Co. 5,141,822 $91.3M Add +17.9% SNDA Sonida Senior Living Inc. 1,903,621 $77.7M Add +56.1% RSVR Reservoir Media Inc. 6,260,176 $61.9M Add +1.3% ALKT Alkami Technology Inc. 2,675,151 $48.5M No change TBPH Theravance Biopharma Inc. 2,760,948 $46.9M No change CPNG Coupang Inc. 2,484,979 $43.2M New DPC DPC Holdings PLC 839,816 $41.2M New DBD Diebold Nixdorf Inc. 476,523 $40.5M Reduce -0.8% ATKR Atkore Inc. 507,613 $38.6M Add +3531.8% MMSI Merit Medical Systems Inc. 542,589 $37.6M New SPSC SPS Commerce Inc. 597,704 $34.2M No change CMP Compass Minerals Internation 1,068,378 $33.3M Reduce -25.6% SMA Smartstop Self Storage REIT 876,608 $28.5M New WK Workiva Inc. 552,010 $26.8M No change BATRK Atlanta Braves Holdings in-C 504,983 $26.2M New FSLR First Solar Inc. 98,989 $23.4M Add +35.8% NOK Nokia Corp.-Spon ADR 1,730,000 $23.0M New COMP Compass Inc. Class A 1,796,898 $22.2M New PAR TECHNOLOGY CORP (PAR 1 01/15/30) 27,226,000 $21.9M Add +22.5% ADEA Adeia Inc. 634,772 $20.9M Add +217.5% AHRT Ah Realty Trust Inc. 2,918,328 $20.7M Reduce -16.3% CTRI Centuri Holdings Inc. 518,705 $15.7M Add +46.2% SITC Site Centers Corp. filed as SITE CTRS CORP 2,605,378 $10.3M No change GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD 283,000 $8.5M New NHP National Healthcare Properti 549,593 $8.1M New WSR Whitestone REIT 408,245 $7.7M Reduce -67.7% SAC.U Safeguard Acquisition Corp. 500,000 $5.1M No change GPACU General Purpose Acquisition 500,000 $5.0M No change ANAB Anaptysbio Inc. 70,447 $4.8M New AIV Apartment Invt & Mgmt Co. Class A 1,398,460 $4.2M Reduce -72.2% USO United States Oil Fund LP 38,500 $4.1M New BLND Blend Labs Inc. Class A 2,284,101 $3.9M Add +3.6% PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) 3,444,000 $3.3M New HVMC Highview Merger Corp. Class A 300,000 $3.0M Reduce -33.3% ELME Elme Communities 1,909,557 $2.8M No change SHY iShares 1-3 Year Treasury Bo 30,000 $2.5M No change FVR Frontview REIT Inc. 66,608 $1.3M New IACQU Irenic Acquisition Corp. 65,700 $668K New
Options reported separately and not counted above: IWM puts ($428.3M), INVESCO QQQ TR puts ($173.3M), FSLR calls ($59.0M), STATE STR SPDR S&P 500 ETF T puts ($13.6M), SNAP calls ($9.4M), XLE calls ($9.3M).
Other holdings (1): bonds, preferreds, convertibles and warrants · $53K (not counted above) Security Class Shares / Principal Value Change HVMCW Highview Merger Corp. - 30 *W EXP 07/24/203 150,000 $53K New
Total filed on the 13F, all lines: $1.4B.
Portfolio Sells Q1 2026 → Q2 2026 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▲ BANDWIDTH INC (BAND 0.5 04/01/28) Sold out 0.00% −3.41 FWRD Forward Air Corp. Sold out 0.00% −1.86 HPE Hewlett Packard Enterprise Sold out 0.00% −1.70 AIV Apartment Invt & Mgmt Co. Class A Reduce -72.2% 0.30% −1.56 NWS News Corp. Class B Sold out 0.00% −1.54 RYAM Rayonier Advanced Materials Sold out 0.00% −1.36 WSR Whitestone REIT Reduce -67.7% 0.56% −1.30 PKST Peakstone Realty Trust Sold out 0.00% −1.28 JANX Janux Therapeutics Inc. Sold out 0.00% −0.97 SGRY Surgery Partners Inc. Sold out 0.00% −0.77 CMP Compass Minerals Internation Reduce -25.6% 2.39% −0.65 DBD Diebold Nixdorf Inc. Reduce -0.8% 2.92% −0.37 AHRT Ah Realty Trust Inc. Reduce -16.3% 1.49% −0.25 QURE Uniqure NV Sold out 0.00% −0.15 AVIR Atea Pharmaceuticals Inc. Sold out 0.00% −0.15 FATE Fate Therapeutics Inc. Sold out 0.00% −0.10 HVMC Highview Merger Corp. Class A Reduce -33.3% 0.22% −0.06 VOR Vor Biopharma Inc. Sold out 0.00% −0.05 DH Definitive Healthcare Corp. Sold out 0.00% −0.01
Portfolio Buys Q1 2026 → Q2 2026 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▼ CPNG Coupang Inc. New 3.11% +3.11 DPC DPC Holdings PLC New 2.97% +2.97 MMSI Merit Medical Systems Inc. New 2.71% +2.71 ATKR Atkore Inc. Add +3531.8% 2.78% +2.70 SMA Smartstop Self Storage REIT New 2.05% +2.05 SNDA Sonida Senior Living Inc. Add +56.1% 5.59% +2.02 BATRK Atlanta Braves Holdings in-C New 1.89% +1.89 NOK Nokia Corp.-Spon ADR New 1.65% +1.65 COMP Compass Inc. Class A New 1.59% +1.59 ADEA Adeia Inc. Add +217.5% 1.50% +1.07 SHC Sotera Health Co. Add +17.9% 6.57% +0.90 GDS GDS Holdings Ltd. - ADR New 0.61% +0.61 NHP National Healthcare Properti New 0.58% +0.58 FSLR First Solar Inc. Add +35.8% 1.68% +0.38 ANAB Anaptysbio Inc. New 0.34% +0.34 USO United States Oil Fund LP New 0.29% +0.29 PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) New 0.24% +0.24 CTRI Centuri Holdings Inc. Add +46.2% 1.13% +0.19 FVR Frontview REIT Inc. New 0.10% +0.10 IACQU Irenic Acquisition Corp. New 0.05% +0.05 PAR TECHNOLOGY CORP (PAR 1 01/15/30) Add +22.5% 1.58% +0.01 BLND Blend Labs Inc. Class A Add +3.6% 0.28% −0.06 RSVR Reservoir Media Inc. Add +1.3% 4.46% −1.03 ITGR Integer Holdings Corp. Add +0.1% 8.51% −1.58
Options Activity Q1 2026 → Q2 2026 Security Type Change vs Q1 2026 Underlying Shares Value ▼ IWM iShares Russell 2000 ETF put Add +9.1% 1,425,400 $428.3M INVESCO QQQ TR put New 235,400 $173.3M FSLR First Solar Inc. call Add +16.1% 250,100 $59.0M QQQ Invesco QQQ Trust Series 1 put Sold out 64,600 $37.3Mbefore exit STATE STR SPDR S&P 500 ETF T put New 18,200 $13.6M SNAP Snap Inc. Class A call Reduce -63.3% 2,116,000 $9.4M XLE SS Energy Select Sector call New 175,000 $9.3M SARO Standardaero Inc. call Sold out 99,800 $2.6Mbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2026 → Q2 2026 Security Class Change vs Q1 2026 Shares / Principal Value ▼ HVMCW Highview Merger Corp. - 30 *W EXP 07/24/203 New 150,000 $53K
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 42 $1.4B SNAP, RAL, ITGR, TFX, SHC Q1 2026 41 $1.1B SNAP, ITGR, TFX, RAL, SHC Q4 2025 42 $723.1M ITGR, SHC, TBPH, ALKT, WK Q3 2025 18 $472.3M SHC, PZZA, RSVR, WK, TBPH Q2 2025 18 $431.8M TGI, AIV, RSVR, SHC, DBD Q1 2025 19 $632.0M ISHARES TR, TGI, RSVR, AIV, SHC Q4 2024 17 $629.1M BARNES GROUP INC, EDR, TGI, RSVR, NWS Q3 2024 14 $539.2M BARNES GROUP INC, NWS, EDR, SHC, FWRD Q2 2024 15 $382.2M BARNES GROUP INC, NWS, RSVR, SHC, AIV Q1 2024 16 $364.3M BARNES GROUP INC, NWS, RSVR, SHC, AIV