Iron Triangle Partners LP's Q3 2023 13F: 6 new positions, 5 exits
Form 13F-HR for the quarter ended Sep 30, 2023 · filed Nov 14, 2023 · 23 reported positions · accession 0001172661-23-003880
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | ICON PLC (ICLR) | 12.0% | 4.7% | −7.3 pts | −220K sh | −63% |
| Increased | DEXCOM INC (DXCM) | 2.6% | 7.7% | +5.1 pts | +416K sh | +277% |
| New | ELANCO ANIMAL HEALTH INC (ELAN) | — | 5.6% | +5.6 pts | +3.41M sh | new |
| New | APELLIS PHARMACEUTICALS INC (APLS) | — | 4.9% | +4.9 pts | +880K sh | new |
| New | MCKESSON CORP (MCK) | — | 4.4% | +4.4 pts | +70,000 sh | new |
| New | LEGEND BIOTECH CORP (LEGN) | — | 4.4% | +4.4 pts | +453K sh | new |
| Reduced | ABBVIE INC (ABBV) | 8.3% | 5.4% | −2.9 pts | −200K sh | −44% |
| Exited | COOPER COS INC (COO) | 3.9% | — | −3.9 pts | −75,000 sh | −100% |
| New | BRUKER CORP (BRKR) | — | 3.9% | +3.9 pts | +431K sh | new |
| Exited | SURGERY PARTNERS INC (SGRY) | 3.6% | — | −3.6 pts | −581K sh | −100% |
| Reduced | BOSTON SCIENTIFIC CORP (BSX) | 6.3% | 3.1% | −3.2 pts | −450K sh | −53% |
| Exited | ALIGN TECHNOLOGY INC (ALGN) | 3.2% | — | −3.2 pts | −65,000 sh | −100% |
| Exited | INSPIRE MED SYS INC (INSP) | 3.1% | — | −3.1 pts | −70,000 sh | −100% |
| Increased | ACADIA HEALTHCARE COMPANY IN (ACHC) | 5.5% | 7.9% | +2.4 pts | +262K sh | +52% |
| New | INTRA-CELLULAR THERAPIES INC (ITCI) | — | 2.5% | +2.5 pts | +331K sh | new |
| Reduced | EXACT SCIENCES CORP (EXAS) | 6.4% | 2.5% | −3.9 pts | −250K sh | −50% |
| Exited | TRANSMEDICS GROUP INC (TMDX) | 2.1% | — | −2.1 pts | −180K sh | −100% |
| Increased | 10X GENOMICS INC (TXG) | 2.9% | 4.0% | +1.1 pts | +287K sh | +76% |
| Increased | GLAUKOS CORP (GKOS) | 3.0% | 4.7% | +1.7 pts | +120K sh | +39% |
| Reduced | SPRINGWORKS THERAPEUTICS INC (SWTX) | 1.7% | 0.5% | −1.2 pts | −315K sh | −68% |
| Increased | INTUITIVE SURGICAL INC (ISRG) | 5.6% | 6.1% | +0.4 pts | +22,000 sh | +18% |
| Increased | OLINK HLDG AB (OLK) | 0.8% | 1.6% | +0.8 pts | +423K sh | +134% |
| Reduced | PACIFIC BIOSCIENCES CALIF IN (PACB) | 4.4% | 2.2% | −2.2 pts | −600K sh | −25% |
| Increased | UNIVERSAL HLTH SVCS INC (UHS) | 10.2% | 9.2% | −0.9 pts | +31,800 sh | +7% |
| Increased | UNITED THERAPEUTICS CORP DEL (UTHR) | 6.1% | 7.0% | +0.9 pts | +10,635 sh | +5% |
| Increased | ESTABLISHMENT LABS HLDGS INC (ESTA) | 5.1% | 4.1% | −1.0 pts | +32,220 sh | +6% |
| Increased | 908 DEVICES INC (MASS) | 0.8% | 1.0% | +0.1 pts | +80,463 sh | +9% |
| Increased | BROOKDALE SR LIVING INC (BKD) | 2.4% | 2.6% | +0.1 pts | +52,775 sh | +1% |
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 63.2% of the equity book
Changes in the top 10 this quarter: DXCM entered · ELAN entered · APLS entered · GKOS entered · EXAS left · BSX left · ESTA left · PACB left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | UNIVERSAL HLTH SVCS INC (UHS) | 10.2% | 9.2% | |
| 2 | ACADIA HEALTHCARE COMPANY IN (ACHC) | 5.5% | 7.9% | |
| 3 | DEXCOM INC (DXCM) | 2.6% | 7.7% | Entered the top 10 |
| 4 | UNITED THERAPEUTICS CORP DEL (UTHR) | 6.1% | 7.0% | |
| 5 | INTUITIVE SURGICAL INC (ISRG) | 5.6% | 6.1% | |
| 6 | ELANCO ANIMAL HEALTH INC (ELAN) | 0.0% | 5.6% | Entered the top 10 |
| 7 | ABBVIE INC (ABBV) | 8.3% | 5.4% | |
| 8 | APELLIS PHARMACEUTICALS INC (APLS) | 0.0% | 4.9% | Entered the top 10 |
| 9 | GLAUKOS CORP (GKOS) | 3.0% | 4.7% | Entered the top 10 |
| 10 | ICON PLC (ICLR) | 12.0% | 4.7% | |
| — | EXACT SCIENCES CORP (EXAS) | 6.4% | 2.5% | Left the top 10 |
| — | BOSTON SCIENTIFIC CORP (BSX) | 6.3% | 3.1% | Left the top 10 |
| — | ESTABLISHMENT LABS HLDGS INC (ESTA) | 5.1% | 4.1% | Left the top 10 |
| — | PACIFIC BIOSCIENCES CALIF IN (PACB) | 4.4% | 2.2% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).
Option positions (puts and calls)
Reported separately from the positions above. The value a 13F reports for an option is that of the underlying shares, not the option itself.
| Activity | Security | Type | Shares before | Shares now | Reported value |
|---|---|---|---|---|---|
| Exited | NEUROCRINE BIOSCIENCES INC (NBIX) | Put | 196K | 0 | $0 |