Iron Triangle Partners LP
CIK 1779763 · View on SEC EDGAR ↗
- Portfolio value
- $874.7M
- Positions
- 27
- As of
- Dec. 31, 2025 Data as of Q4 2025
#2,667 of 9,443 by 13F value · top 28.2%
Portfolio value QoQ: +24.4% 13F does not disclose cash
- Top 10 holdings weight
- 53.22%
- Top 25 holdings weight
- 97.85%
- Positions above 1%
- 27
- Effective number of positions
- 22.3
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q4 2025: 56.74% Est. buys $557,045,244 · sells $447,657,704
Median holding: 2.0 quarters Tracked Q4 2024–Q4 2025 · 44.3% still held
- New positions
- 16
- Increased
- 8
- Decreased
- 3
- Closed
- 14
On this page
- Performance vs S&P How this manager's 13F portfolio performed against the S&P 500.
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Performance vs S&P 500
Annualized: +30.5% · S&P 500: +17.9%
Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.
Priceable coverage: 100.0% · Options excluded: 2.4%
Sector breakdown
Healthcare
100.0%
Full portfolio 27 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| CRL Charles River Laboratories International, Inc. Common Stock | $75,748,141 | 8.66% | 379,728 | $33,816,861 | Up ×1 | ||
| ISRG Intuitive Surgical, Inc. - Common Stock | $53,497,799 | 6.12% | 94,459 | ||||
| RGEN Repligen Corporation - Common Stock | $52,512,870 | 6.00% | 320,474 | $16,421,970 | Up ×1 | ||
| JAZZ Jazz Pharmaceuticals plc - Ordinary Shares | $49,668,900 | 5.68% | 292,170 | $29,898,900 | Up ×1 | ||
| VCYT Veracyte, Inc. - Common Stock | $41,274,461 | 4.72% | 980,391 | $24,624,411 | Up ×1 | ||
| BSX Boston Scientific Corporation Common Stock | $40,120,706 | 4.59% | 420,773 | ||||
| WAT Waters Corporation Common Stock | $39,945,582 | 4.57% | 105,167 | Up ×1 | |||
| BKD Brookdale Senior Living Inc. Common Stock | $37,675,044 | 4.31% | 3,491,663 | $13,634,126 | Up ×2 | ||
| LLY Eli Lilly and Company Common Stock | $37,662,161 | 4.31% | 35,045 | $-148,304 | Down ×1 | ||
| BRKR Bruker Corporation - Common Stock | $37,423,242 | 4.28% | 794,380 | Up ×1 | |||
| VRTX Vertex Pharmaceuticals Incorporated - Common Stock | $34,867,918 | 3.99% | 76,910 | Up ×1 | |||
| CVS CVS Health Corporation Common Stock | $34,319,788 | 3.92% | 432,457 | $-25,833,893 | Down ×1 | ||
| FTRE Fortrea Holdings Inc. - Common Stock | $34,264,244 | 3.92% | 1,986,333 | Up ×1 | |||
| MMSI Merit Medical Systems, Inc. - Common Stock | $33,992,072 | 3.89% | 385,660 | ||||
| BTSG BrightSpring Health Services, Inc. - Common Stock | $33,608,641 | 3.84% | 897,427 | $-3,002,010 | Down ×1 | ||
| DOCS Doximity, Inc. Class A Common Stock | $30,401,231 | 3.48% | 686,568 | $15,039,731 | Up ×1 | ||
| TECH Bio-Techne Corp - Common Stock | $27,488,323 | 3.14% | 467,409 | ||||
| ATEC Alphatec Holdings, Inc. - Common Stock | $27,050,812 | 3.09% | 1,285,685 | Up ×1 | |||
| AHCO AdaptHealth Corp. - Common Stock | $25,985,670 | 2.97% | 2,609,003 | $8,764,689 | Up ×3 | ||
| NVST Envista Holdings Corporation Common Stock | $25,763,344 | 2.95% | 1,186,704 | ||||
| UNH UnitedHealth Group Incorporated Common Stock (DE) | $23,149,294 | 2.65% | 70,126 | ||||
| ABT Abbott Laboratories Common Stock | $21,967,472 | 2.51% | 175,333 | Up ×1 | |||
| IDYA IDEAYA Biosciences, Inc. - Common Stock | $16,160,922 | 1.85% | 467,484 | $8,814,222 | Up ×1 | ||
| BHVN Biohaven Ltd. Common Shares | $10,819,613 | 1.24% | 958,336 | Up ×1 | |||
| XENE Xenon Pharmaceuticals Inc. - Common Shares | $10,473,896 | 1.20% | 233,688 | Up ×1 | |||
| DNTH Dianthus Therapeutics, Inc. - Common Stock | $9,508,383 | 1.09% | 230,730 | Up ×1 | |||
| MLYS Mineralys Therapeutics, Inc. - Common Stock | $9,329,615 | 1.07% | 257,085 | Up ×1 | |||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
| Security | Value | % of portfolio | Streak |
|---|---|---|---|
| AHCO | $25,985,670 | 2.97% | up ×3 |
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| ISRG | $53,497,799 | 94,459 | 6.12% |
| BSX | $40,120,706 | 420,773 | 4.59% |
| WAT | $39,945,582 | 105,167 | 4.57% |
| BRKR | $37,423,242 | 794,380 | 4.28% |
| VRTX | $34,867,918 | 76,910 | 3.99% |
| FTRE | $34,264,244 | 1,986,333 | 3.92% |
| MMSI | $33,992,072 | 385,660 | 3.89% |
| TECH | $27,488,323 | 467,409 | 3.14% |
| ATEC | $27,050,812 | 1,285,685 | 3.09% |
| NVST | $25,763,344 | 1,186,704 | 2.95% |
| UNH | $23,149,294 | 70,126 | 2.65% |
| ABT | $21,967,472 | 175,333 | 2.51% |
| BHVN | $10,819,613 | 958,336 | 1.24% |
| XENE | $10,473,896 | 233,688 | 1.20% |
| DNTH | $9,508,383 | 230,730 | 1.09% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| CRL | Bought more | +112K | +$33.8M |
| JAZZ | Bought more | +142K | +$29.9M |
| CVS | Trimmed | -365K | -$25.8M |
| VCYT | Bought more | +495K | +$24.6M |
| RGEN | Bought more | +50K | +$16.4M |
| DOCS | Bought more | +477K | +$15.0M |
| BKD | Bought more | +653K | +$13.6M |
| IDYA | Bought more | +197K | +$8.8M |
| AHCO | Bought more | +685K | +$8.8M |
| BTSG | Trimmed | -341K | -$3.0M |
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| UNH | March 31, 2025 | 220,700 | $111,643,302 | -25.1% |
| DXCM | Dec. 31, 2025 | 850,000 | $57,196,500 | 37.2% |
| DVA | June 30, 2025 | 319,566 | $48,884,011 | 24.4% |
| ABBV | Dec. 31, 2025 | 200,326 | $46,383,482 | 16.1% |
| MDT | Dec. 31, 2025 | 453,347 | $43,176,768 | -2.0% |
| MMSI | Sept. 30, 2025 | 392,783 | $36,717,355 | 10.3% |
| ICLR | Sept. 30, 2025 | 250,000 | $36,362,500 | 1.1% |
| TEVA | June 30, 2025 | 2,217,730 | $34,086,510 | 120.8% |
| EXAS | March 31, 2025 | 600,000 | $33,714,000 | No longer tracked |
| BSX | June 30, 2025 | 332,167 | $33,509,007 | -52.1% |
| ISRG | Sept. 30, 2025 | 60,000 | $32,604,600 | -11.7% |
| HQY | March 31, 2025 | 335,614 | $32,202,163 | 19.5% |
| GMED | June 30, 2025 | 431,221 | $31,565,377 | 49.5% |
| HCA | Sept. 30, 2025 | 80,000 | $30,648,000 | -3.7% |
| MEDP | March 31, 2025 | 90,000 | $29,900,700 | 102.7% |
| GKOS | Dec. 31, 2025 | 342,804 | $27,955,666 | 68.7% |
| THC | Dec. 31, 2025 | 137,448 | $27,907,442 | 38.0% |
| AZN | June 30, 2025 | 376,330 | $27,660,255 | 133.7% |
| EXAS | Dec. 31, 2025 | 500,000 | $27,355,000 | No longer tracked |
| ADPT | Dec. 31, 2025 | 1,820,915 | $27,240,888 | 59.3% |
| MDGL | Dec. 31, 2025 | 58,378 | $26,775,653 | -7.9% |
| GH | Dec. 31, 2025 | 400,000 | $24,992,000 | 63.3% |
| A | June 30, 2025 | 208,438 | $24,383,077 | 32.0% |
| XBI | March 31, 2025 | 250,000 | $22,515,000 | No longer tracked |
| GKOS | March 31, 2025 | 150,000 | $22,491,000 | 93.6% |
| CAH | Dec. 31, 2025 | 138,011 | $21,662,207 | 12.8% |
| PODD | Sept. 30, 2025 | 68,041 | $21,377,121 | -50.9% |
| WAY | March 31, 2025 | 551,893 | $20,254,473 | -33.0% |
| OSCR | Sept. 30, 2025 | 900,000 | $19,296,000 | 73.6% |
| NBIX | Dec. 31, 2025 | 131,390 | $18,444,528 | 9.2% |
| WST | Dec. 31, 2025 | 70,000 | $18,363,100 | 28.7% |
| NBIX | June 30, 2025 | 146,836 | $16,240,062 | 23.2% |
| JAZZ | June 30, 2025 | 130,000 | $16,139,500 | 136.8% |
| TWST | Sept. 30, 2025 | 424,355 | $15,612,020 | 388.5% |
| FOLD | Dec. 31, 2025 | 1,971,260 | $15,533,529 | No longer tracked |
| TECH | June 30, 2025 | 250,000 | $14,657,500 | 40.6% |
| ONC | Sept. 30, 2025 | 60,000 | $14,524,200 | 9.4% |
| NVST | Sept. 30, 2025 | 620,000 | $12,114,800 | 34.2% |
| EHAB | Sept. 30, 2025 | 1,027,972 | $9,909,650 | No longer tracked |
| ALNY | Sept. 30, 2025 | 29,339 | $9,567,155 | -47.6% |
| TXG | June 30, 2025 | 1,000,000 | $8,730,000 | 438.4% |
| ARGX | Dec. 31, 2025 | 9,900 | $7,301,844 | 22.7% |
| INSM | Sept. 30, 2025 | 70,000 | $7,044,800 | -10.9% |