Irenic Capital Management L.P. 13F annual report
Irenic Capital Management L.P. is an investment fund managing more than $382 billion ran by Josh Brodman. There are currently 15 companies in Mr. Brodman’s portfolio. The largest investments include Barnes and News Corp, together worth $180 billion.
$382 billion Assets Under Management (AUM)
As of 7th August 2024, Irenic Capital Management L.P.’s top holding is 2,572,142 shares of Barnes currently worth over $107 billion and making up 27.9% of the portfolio value.
Relative to the number of outstanding shares of Barnes, Irenic Capital Management L.P. owns less than approximately 0.1% of the company.
In addition, the fund holds 2,600,989 shares of News Corp worth $73.8 billion, whose value grew 5.9% in the past six months.
The third-largest holding is Reservoir Media Inc worth $41.2 billion and the next is Sotera Health Co worth $36 billion, with 3,032,126 shares owned.
Currently, Irenic Capital Management L.P.'s portfolio is worth at least $382 billion. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Irenic Capital Management L.P.
The Irenic Capital Management L.P. office and employees reside in New York, New York. According to the last 13-F report filed with the SEC, Josh Brodman serves as the CCO, CFO at Irenic Capital Management L.P..
Recent trades
In the most recent 13F filing, Irenic Capital Management L.P. revealed that it had opened a new position in
Forward Air and bought 1,068,239 shares worth $20.3 billion.
This means they effectively own approximately 0.1% of the company.
Forward Air makes up
15.9%
of the fund's Industrials sector allocation and has decreased its share price by 65.2% in the past year.
The investment fund also strengthened its position in Barnes by buying
1,125,049 additional shares.
This makes their stake in Barnes total 2,572,142 shares worth $107 billion.
Barnes dropped 0.7% in the past year.
On the other hand, there are companies that Irenic Capital Management L.P. is getting rid of from its portfolio.
Irenic Capital Management L.P. closed its position in News Corp on 14th August 2024.
It sold the previously owned 3,270,942 shares for $80.3 billion.
Josh Brodman also disclosed a decreased stake in News Corp by 0.5%.
This leaves the value of the investment at $73.8 billion and 2,600,989 shares.
One of the smaller hedge funds
The two most similar investment funds to Irenic Capital Management L.P. are Carderock Capital Management Inc and Esl Trust Services. They manage $382 billion and $382 billion respectively.
Josh Brodman investment strategy
Irenic Capital Management L.P.’s portfolio is diversified across 5 sectors.
Currently, their heaviest sector is Industrials — making up 33.5% of
the total portfolio value.
The fund focuses on investments in the United States as
46.7% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are large-cap stocks.
Stocks with a size of more than $10 billion in market cap make up
7% of the total holdings value.
On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio.
The average market cap of the portfolio companies is close to $2.82 billion.
The complete list of Irenic Capital Management L.P. trades based on 13F SEC filings
These positions were updated on August 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Barnes Group Inc. |
77.75%
2,572,142
|
$106,512,400,000 | 27.87% |
| News Corp |
Closed
3,270,942
|
$80,301,626,000 | |
| News Corp |
50.24%
2,600,989
|
$73,842,078,000 | 19.32% |
| Reservoir Media Inc |
50.72%
5,215,553
|
$41,202,869,000 | 10.78% |
| Sotera Health Co |
35.78%
3,032,126
|
$35,991,336,000 | 9.42% |
| Apartment Invt & Mgmt Co |
37.43%
3,821,789
|
$31,682,631,000 | 8.29% |
| Theravance Biopharma Inc |
No change
2,760,948
|
$23,412,839,000 | 6.13% |
| Diebold Nixdorf Inc |
11.42%
549,573
|
$21,147,569,000 | 5.53% |
| Forward Air Corp. |
Opened
1,068,239
|
$20,339,271,000 | 5.32% |
| Definitive Healthcare Corp |
Opened
2,946,942
|
$16,090,303,000 | 4.21% |
| Envestnet Inc. |
Closed
287,155
|
$14,219,916,000 | |
| Outfront Media Inc |
Closed
788,364
|
$11,005,561,000 | |
| Enstar Group Limited |
Closed
35,629
|
$10,487,396,000 | |
| Equity Comwlth |
Opened
325,673
|
$6,318,056,000 | 1.65% |
| Blend Labs, Inc. |
Closed
1,150,685
|
$2,934,247,000 | |
| Propertyguru Group Ltd |
Opened
450,350
|
$2,184,198,000 | 0.57% |
| James Riv Group Ltd |
Closed
224,871
|
$2,077,808,000 | |
| Zuora Inc |
Opened
202,121
|
$2,007,062,000 | 0.53% |
| Hexcel Corp. |
Opened
16,150
|
$1,008,568,000 | 0.26% |
| Cogent Communications Hldgs |
Closed
7,056
|
$536,679,000 | |
| Ishares Tr |
No change
3,000
|
$275,340,000 | 0.07% |
| Global Blue Group Holding AG |
92.22%
31,582
|
$152,225,000 | 0.04% |
| No transactions found | |||
| Showing first 500 out of 22 holdings | |||
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