Irenic Capital Management LP Quant / Systematic

CIK: 0001929389 · Show all filings

Period: Q3 2025 (← Previous) (Next →)

Filing Date: Nov 14, 2025

Total Value ($000): $954,643 (96.1% shares, 3.9% debt)

Holdings (21)

— ISHARES TR RUSSELL 2000 ETF 46.7%

Value ($000) $445,400 Shares 1,840,800 Est. Cost — Unrealized —

SHC SOTERA HEALTH CO 5.8%

Value ($000) $55,811 Shares 3,548,071 Est. Cost $12.80 Unrealized +9.7%

PZZA PAPA JOHNS INTL INC 5.4%

Value ($000) $51,699 Shares 1,073,700 Est. Cost $44.95 Unrealized 0.0%

RSVR RESERVOIR MEDIA INC 4.8%

Value ($000) $46,151 Shares 5,669,671 Est. Cost $6.71 Unrealized +16.5%

WK WORKIVA INC 4.5%

Value ($000) $42,783 Shares 497,010 Est. Cost $75.12 Unrealized 0.0%

TBPH THERAVANCE BIOPHARMA INC 4.2%

Value ($000) $40,310 Shares 2,760,948 Est. Cost $10.53 Unrealized +20.0%

— HILLENBRAND INC 3.8%

Value ($000) $36,547 Shares 1,351,604 Est. Cost $27.04 Unrealized —

— BANDWIDTH INC 3.6%

Value ($000) $34,319 Shares 40,173,000 Est. Cost $0.73 Unrealized —

DBD DIEBOLD NIXDORF INC 3.5%

Value ($000) $33,845 Shares 593,461 Est. Cost $26.70 Unrealized +121.9%

FWRD FORWARD AIR CORP 3.3%

Value ($000) $31,533 Shares 1,229,819 Est. Cost $17.76 Unrealized +62.0%

ELME ELME COMMUNITIES 3.0%

Value ($000) $28,660 Shares 1,699,873 Est. Cost $16.86 Unrealized —

SGRY SURGERY PARTNERS INC 2.6%

Value ($000) $24,501 Shares 1,132,203 Est. Cost $22.29 Unrealized +0.1%

SITC SITE CTRS CORP 2.5%

Value ($000) $23,474 Shares 2,605,378 Est. Cost $12.17 Unrealized —

NWS NEWS CORP NEW 2.1%

Value ($000) $20,516 Shares 593,809 Est. Cost $17.22 Unrealized +95.6%

GO GROCERY OUTLET HLDG CORP 1.9%

Value ($000) $17,764 Shares 1,106,789 Est. Cost $14.22 Unrealized +12.3%

NSA NATIONAL STORAGE AFFILIATES 1.3%

Value ($000) $12,173 Shares 402,822 Est. Cost $30.22 Unrealized —

HVMCU HIGHVIEW MERGER CORP 0.3%

Value ($000) $3,036 Shares 300,000 Est. Cost $10.12 Unrealized —

— ARRAY TECHNOLOGIES INC 0.3%

Value ($000) $2,610 Shares 3,000,000 Est. Cost $0.74 Unrealized —

SHY ISHARES TR 0.3%

Value ($000) $2,489 Shares 30,000 Est. Cost $82.58 Unrealized —

— JAMF HLDG CORP 0.1%

Value ($000) $963 Shares 90,000 Est. Cost $10.70 Unrealized —

MRVI MARAVAI LIFESCIENCES HLDGS I 0.0%

Value ($000) $59 Shares 20,668 Est. Cost $2.10 Unrealized +21.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	ISHARES TR RUSSELL 2000 ETF	1,840,800	$445,400	46.7%	—	—	Put	464287955
SHC	SOTERA HEALTH CO	3,548,071	$55,811	5.8%	$12.80	+9.7%	COM	83601L102
PZZA	PAPA JOHNS INTL INC	1,073,700	$51,699	5.4%	$44.95	0.0%	COM	698813102
RSVR	RESERVOIR MEDIA INC	5,669,671	$46,151	4.8%	$6.71	+16.5%	COM	76119X105
WK	WORKIVA INC	497,010	$42,783	4.5%	$75.12	0.0%	COM CL A	98139A105
TBPH	THERAVANCE BIOPHARMA INC	2,760,948	$40,310	4.2%	$10.53	+20.0%	COM	G8807B106
—	HILLENBRAND INC	1,351,604	$36,547	3.8%	$27.04	—	COM	431571108
—	BANDWIDTH INC	40,173,000	$34,319	3.6%	$0.73	—	NOTE 0.500% 4/0	05988JAD5
DBD	DIEBOLD NIXDORF INC	593,461	$33,845	3.5%	$26.70	+121.9%	COM SHS	253651202
FWRD	FORWARD AIR CORP	1,229,819	$31,533	3.3%	$17.76	+62.0%	COM	34986A104
ELME	ELME COMMUNITIES	1,699,873	$28,660	3.0%	$16.86	—	SH BEN INT	939653101
SGRY	SURGERY PARTNERS INC	1,132,203	$24,501	2.6%	$22.29	+0.1%	COM	86881A100
SITC	SITE CTRS CORP	2,605,378	$23,474	2.5%	$12.17	—	COM	82981J851
NWS	NEWS CORP NEW	593,809	$20,516	2.1%	$17.22	+95.6%	CL B	65249B208
GO	GROCERY OUTLET HLDG CORP	1,106,789	$17,764	1.9%	$14.22	+12.3%	COM	39874R101
NSA	NATIONAL STORAGE AFFILIATES	402,822	$12,173	1.3%	$30.22	—	COM SHS BEN IN	637870106
HVMCU	HIGHVIEW MERGER CORP	300,000	$3,036	0.3%	$10.12	—	UNIT 07/24/2030	G4569C127
—	ARRAY TECHNOLOGIES INC	3,000,000	$2,610	0.3%	$0.74	—	NOTE 1.000%12/0	04271TAB6
SHY	ISHARES TR	30,000	$2,489	0.3%	$82.58	—	1 3 YR TREAS BD	464287457
—	JAMF HLDG CORP	90,000	$963	0.1%	$10.70	—	COM	47074L105
MRVI	MARAVAI LIFESCIENCES HLDGS I	20,668	$59	0.0%	$2.10	+21.5%	COM CL A	56600D107