Iron Triangle Partners LP's Q4 2024 13F: 13 new positions, 15 exits
Form 13F-HR for the quarter ended Dec 31, 2024 · filed Feb 14, 2025 · 22 reported positions · accession 0001172661-25-000888
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| New | AGILENT TECHNOLOGIES INC (A) | — | 9.3% | +9.3 pts | +596K sh | new |
| Exited | ELANCO ANIMAL HEALTH INC (ELAN) | 8.8% | — | −8.8 pts | −4.26M sh | −100% |
| New | GLOBUS MED INC (GMED) | — | 8.1% | +8.1 pts | +844K sh | new |
| Exited | ILLUMINA INC (ILMN) | 8.1% | — | −8.1 pts | −440K sh | −100% |
| New | ABBVIE INC (ABBV) | — | 7.7% | +7.7 pts | +374K sh | new |
| Exited | TENET HEALTHCARE CORP (THC) | 7.2% | — | −7.2 pts | −309K sh | −100% |
| Exited | ACADIA HEALTHCARE COMPANY IN (ACHC) | 7.2% | — | −7.2 pts | −802K sh | −100% |
| New | UNITEDHEALTH GROUP INC (UNH) | — | 7.1% | +7.1 pts | +121K sh | new |
| New | BOSTON SCIENTIFIC CORP (BSX) | — | 5.2% | +5.2 pts | +495K sh | new |
| New | NEUROCRINE BIOSCIENCES INC (NBIX) | — | 5.1% | +5.1 pts | +318K sh | new |
| Exited | OSCAR HEALTH INC (OSCR) | 4.8% | — | −4.8 pts | −1.61M sh | −100% |
| New | DAVITA INC (DVA) | — | 4.5% | +4.5 pts | +260K sh | new |
| Exited | DANAHER CORPORATION (DHR) | 4.3% | — | −4.3 pts | −110K sh | −100% |
| Reduced | MEDPACE HLDGS INC (MEDP) | 9.1% | 3.5% | −5.6 pts | −103K sh | −53% |
| New | HEALTHEQUITY INC (HQY) | — | 3.8% | +3.8 pts | +336K sh | new |
| Exited | AXSOME THERAPEUTICS INC (AXSM) | 3.2% | — | −3.2 pts | −252K sh | −100% |
| New | SPDR SER TR (XBI) | — | 2.6% | +2.6 pts | +250K sh | new |
| New | CARDINAL HEALTH INC (CAH) | — | 2.6% | +2.6 pts | +186K sh | new |
| New | ARGENX SE (ARGX) | — | 2.5% | +2.5 pts | +35,000 sh | new |
| New | WAYSTAR HLDG CORP (WAY) | — | 2.4% | +2.4 pts | +552K sh | new |
| Exited | GERON CORP (GERN) | 2.1% | — | −2.1 pts | −3.35M sh | −100% |
| Exited | SANOFI (SNY) | 2.1% | — | −2.1 pts | −262K sh | −100% |
| Exited | BROOKDALE SR LIVING INC (BKD) | 2.1% | — | −2.1 pts | −2.2M sh | −100% |
| New | DOXIMITY INC (DOCS) | — | 1.9% | +1.9 pts | +313K sh | new |
| Exited | INSMED INC (INSM) | 1.8% | — | −1.8 pts | −180K sh | −100% |
| Increased | MERIT MED SYS INC (MMSI) | 3.5% | 4.6% | +1.1 pts | +154K sh | +61% |
| Exited | ACADIA PHARMACEUTICALS INC (ACAD) | 1.6% | — | −1.6 pts | −750K sh | −100% |
| Exited | MYRIAD GENETICS INC (MYGN) | 1.5% | — | −1.5 pts | −402K sh | −100% |
| Increased | INSULET CORP (PODD) | 3.6% | 4.7% | +1.1 pts | +44,014 sh | +40% |
| Increased | EXACT SCIENCES CORP (EXAS) | 3.8% | 3.9% | +0.1 pts | +200K sh | +50% |
| Reduced | GLAUKOS CORP (GKOS) | 4.0% | 2.6% | −1.4 pts | −67,674 sh | −31% |
| Exited | INDIVIOR PLC (INDV) | 1.2% | — | −1.2 pts | −845K sh | −100% |
| Exited | BICARA THERAPEUTICS INC (BCAX) | 0.7% | — | −0.7 pts | −200K sh | −100% |
| Increased | TEVA PHARMACEUTICAL INDS LTD (TEVA) | 4.9% | 5.7% | +0.7 pts | +256K sh | +13% |
| Increased | INTUITIVE SURGICAL INC (ISRG) | 5.0% | 4.6% | −0.4 pts | +2,999 sh | +4% |
| Reduced | TWIST BIOSCIENCE CORP (TWST) | 3.2% | 2.7% | −0.6 pts | −17,529 sh | −3% |
| Increased | ENVISTA HOLDINGS CORPORATION (NVST) | 6.1% | 4.9% | −1.1 pts | +10,631 sh | 0% |
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 — 62.4% of the equity book
Changes in the top 10 this quarter: A entered · GMED entered · ABBV entered · UNH entered · BSX entered · NBIX entered · PODD entered · MMSI entered · MEDP left · ELAN left · ILMN left · THC left · ACHC left · ISRG left · OSCR left · DHR left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | AGILENT TECHNOLOGIES INC (A) | 0.0% | 9.3% | Entered the top 10 |
| 2 | GLOBUS MED INC (GMED) | 0.0% | 8.1% | Entered the top 10 |
| 3 | ABBVIE INC (ABBV) | 0.0% | 7.7% | Entered the top 10 |
| 4 | UNITEDHEALTH GROUP INC (UNH) | 0.0% | 7.1% | Entered the top 10 |
| 5 | TEVA PHARMACEUTICAL INDS LTD (TEVA) | 4.9% | 5.7% | |
| 6 | BOSTON SCIENTIFIC CORP (BSX) | 0.0% | 5.2% | Entered the top 10 |
| 7 | NEUROCRINE BIOSCIENCES INC (NBIX) | 0.0% | 5.1% | Entered the top 10 |
| 8 | ENVISTA HOLDINGS CORPORATION (NVST) | 6.1% | 4.9% | |
| 9 | INSULET CORP (PODD) | 3.6% | 4.7% | Entered the top 10 |
| 10 | MERIT MED SYS INC (MMSI) | 3.5% | 4.6% | Entered the top 10 |
| — | MEDPACE HLDGS INC (MEDP) | 9.1% | 3.5% | Left the top 10 |
| — | ELANCO ANIMAL HEALTH INC (ELAN) | 8.8% | 0.0% | Left the top 10 |
| — | ILLUMINA INC (ILMN) | 8.1% | 0.0% | Left the top 10 |
| — | TENET HEALTHCARE CORP (THC) | 7.2% | 0.0% | Left the top 10 |
| — | ACADIA HEALTHCARE COMPANY IN (ACHC) | 7.2% | 0.0% | Left the top 10 |
| — | INTUITIVE SURGICAL INC (ISRG) | 5.0% | 4.6% | Left the top 10 |
| — | OSCAR HEALTH INC (OSCR) | 4.8% | 0.0% | Left the top 10 |
| — | DANAHER CORPORATION (DHR) | 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 | UNITEDHEALTH GROUP INC (UNH) | Call | 0 | 100K | $50.6M |
| Exited | ELANCO ANIMAL HEALTH INC (ELAN) | Call | 724K | 0 | $0 |