Iron Triangle Partners LP's Q1 2024 13F: 13 new positions, 11 exits
Form 13F-HR for the quarter ended Mar 31, 2024 · filed May 15, 2024 · 28 reported positions · accession 0001172661-24-002396
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Exited | UNIVERSAL HLTH SVCS INC (UHS) | 6.3% | — | −6.3 pts | −322K sh | −100% |
| Exited | IDEXX LABS INC (IDXX) | 5.5% | — | −5.5 pts | −76,025 sh | −100% |
| New | EXACT SCIENCES CORP (EXAS) | — | 5.0% | +5.0 pts | +700K sh | new |
| New | WEST PHARMACEUTICAL SVSC INC (WST) | — | 4.9% | +4.9 pts | +120K sh | new |
| New | ALIGN TECHNOLOGY INC (ALGN) | — | 4.8% | +4.8 pts | +142K sh | new |
| Exited | SURGERY PARTNERS INC (SGRY) | 4.3% | — | −4.3 pts | −1.04M sh | −100% |
| Exited | INSPIRE MED SYS INC (INSP) | 3.9% | — | −3.9 pts | −150K sh | −100% |
| Exited | 10X GENOMICS INC (TXG) | 3.5% | — | −3.5 pts | −479K sh | −100% |
| New | APELLIS PHARMACEUTICALS INC (APLS) | — | 3.3% | +3.3 pts | +550K sh | new |
| New | FORTREA HLDGS INC (FTRE) | — | 3.3% | +3.3 pts | +791K sh | new |
| Exited | SANOFI (SNY) | 3.2% | — | −3.2 pts | −500K sh | −100% |
| New | NEUROCRINE BIOSCIENCES INC (NBIX) | — | 3.1% | +3.1 pts | +220K sh | new |
| New | AVANTOR INC (AVTR) | — | 3.0% | +3.0 pts | +1.15M sh | new |
| Exited | LEGEND BIOTECH CORP (LEGN) | 3.0% | — | −3.0 pts | −380K sh | −100% |
| Reduced | ELANCO ANIMAL HEALTH INC (ELAN) | 5.8% | 2.2% | −3.6 pts | −1.7M sh | −57% |
| New | SHOCKWAVE MED INC (SWAV) | — | 2.7% | +2.7 pts | +79,736 sh | new |
| Increased | DEXCOM INC (DXCM) | 4.7% | 6.8% | +2.1 pts | +182K sh | +63% |
| Exited | BIOMARIN PHARMACEUTICAL INC (BMRN) | 2.5% | — | −2.5 pts | −200K sh | −100% |
| New | SYNDAX PHARMACEUTICALS INC (SNDX) | — | 2.4% | +2.4 pts | +973K sh | new |
| Reduced | MCKESSON CORP (MCK) | 4.8% | 2.1% | −2.7 pts | −42,581 sh | −53% |
| Exited | PACIFIC BIOSCIENCES CALIF IN (PACB) | 2.3% | — | −2.3 pts | −1.84M sh | −100% |
| New | SPDR SER TR (XBI) | — | 2.2% | +2.2 pts | +226K sh | new |
| New | CYTOKINETICS INC (CYTK) | — | 2.2% | +2.2 pts | +300K sh | new |
| Increased | TEVA PHARMACEUTICAL INDS LTD (TEVA) | 1.8% | 4.0% | +2.3 pts | +1.47M sh | +113% |
| Exited | REPLIGEN CORP (RGEN) | 1.9% | — | −1.9 pts | −82,537 sh | −100% |
| New | ARGENX SE (ARGX) | — | 1.8% | +1.8 pts | +45,000 sh | new |
| Increased | GLAUKOS CORP (GKOS) | 2.5% | 4.2% | +1.7 pts | +185K sh | +76% |
| Increased | ILLUMINA INC (ILMN) | 4.0% | 4.7% | +0.7 pts | +111K sh | +50% |
| Exited | ESTABLISHMENT LABS HLDGS INC (ESTA) | 1.1% | — | −1.1 pts | −331K sh | −100% |
| Reduced | OSCAR HEALTH INC (OSCR) | 2.4% | 2.1% | −0.4 pts | −718K sh | −35% |
| Increased | SCHRODINGER INC (SDGR) | 2.2% | 2.4% | +0.2 pts | +395K sh | +84% |
| Increased | ACADIA HEALTHCARE COMPANY IN (ACHC) | 8.0% | 7.4% | −0.6 pts | +111K sh | +14% |
| Reduced | ICON PLC (ICLR) | 6.3% | 5.2% | −1.1 pts | −21,822 sh | −13% |
| Increased | BROOKDALE SR LIVING INC (BKD) | 3.7% | 4.0% | +0.4 pts | +1.04M sh | +21% |
| Increased | ABBVIE INC (ABBV) | 5.0% | 5.2% | +0.2 pts | +26,098 sh | +10% |
| New | NYXOAH S A (NYXH) | — | 0.4% | +0.4 pts | +253K sh | new |
| Reduced | 908 DEVICES INC (MASS) | 1.9% | 0.8% | −1.1 pts | −244K sh | −19% |
| Increased | INTUITIVE SURGICAL INC (ISRG) | 5.2% | 5.1% | −0.1 pts | +4,337 sh | +4% |
| Increased | BRUKER CORP (BRKR) | 4.3% | 4.5% | +0.3 pts | +16,521 sh | +4% |
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 — 53.7% of the equity book
Changes in the top 10 this quarter: EXAS entered · WST entered · ALGN entered · ILMN entered · BRKR entered · UHS left · ELAN left · IDXX left · MCK left · SGRY left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | ACADIA HEALTHCARE COMPANY IN (ACHC) | 8.0% | 7.4% | |
| 2 | DEXCOM INC (DXCM) | 4.7% | 6.8% | |
| 3 | ICON PLC (ICLR) | 6.3% | 5.2% | |
| 4 | ABBVIE INC (ABBV) | 5.0% | 5.2% | |
| 5 | INTUITIVE SURGICAL INC (ISRG) | 5.2% | 5.1% | |
| 6 | EXACT SCIENCES CORP (EXAS) | 0.0% | 5.0% | Entered the top 10 |
| 7 | WEST PHARMACEUTICAL SVSC INC (WST) | 0.0% | 4.9% | Entered the top 10 |
| 8 | ALIGN TECHNOLOGY INC (ALGN) | 0.0% | 4.8% | Entered the top 10 |
| 9 | ILLUMINA INC (ILMN) | 4.0% | 4.7% | Entered the top 10 |
| 10 | BRUKER CORP (BRKR) | 4.3% | 4.5% | Entered the top 10 |
| — | UNIVERSAL HLTH SVCS INC (UHS) | 6.3% | 0.0% | Left the top 10 |
| — | ELANCO ANIMAL HEALTH INC (ELAN) | 5.8% | 2.2% | Left the top 10 |
| — | IDEXX LABS INC (IDXX) | 5.5% | 0.0% | Left the top 10 |
| — | MCKESSON CORP (MCK) | 4.8% | 2.1% | Left the top 10 |
| — | SURGERY PARTNERS INC (SGRY) | 4.3% | 0.0% | 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 |
|---|---|---|---|---|---|
| New | ELANCO ANIMAL HEALTH INC (ELAN) | Call | 0 | 611K | $9.94M |