# Iron Triangle Partners LP

> Institutional holdings reported to the SEC as of Q4 2025 on Form 13F. CIK 1779763. Source: https://holderbook.com/funds/1779763-iron-triangle-partners-lp/

- Reported value: $874.7M
- Positions: 27
- Weight of the ten largest: 53.2%
- Filed: 2026-02-17

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| CHARLES RIV LABS INTL INC | [CRL](https://holderbook.com/stocks/CRL/) | $75.7M | 379,728 | 8.7% | 3 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $53.5M | 94,459 | 6.1% | 1 |
| REPLIGEN CORP | [RGEN](https://holderbook.com/stocks/RGEN/) | $52.5M | 320,474 | 6.0% | 2 |
| JAZZ PHARMACEUTICALS PLC | [JAZZ](https://holderbook.com/stocks/JAZZ/) | $49.7M | 292,170 | 5.7% | 2 |
| VERACYTE INC | [VCYT](https://holderbook.com/stocks/VCYT/) | $41.3M | 980,391 | 4.7% | 2 |
| BOSTON SCIENTIFIC CORP | [BSX](https://holderbook.com/stocks/BSX/) | $40.1M | 420,773 | 4.6% | 1 |
| WATERS CORP | [WAT](https://holderbook.com/stocks/WAT/) | $39.9M | 105,167 | 4.6% | 1 |
| BROOKDALE SR LIVING INC | [BKD](https://holderbook.com/stocks/BKD/) | $37.7M | 3,491,663 | 4.3% | 3 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $37.7M | 35,045 | 4.3% | 2 |
| BRUKER CORP | [BRKR](https://holderbook.com/stocks/BRKR/) | $37.4M | 794,380 | 4.3% | 1 |
| VERTEX PHARMACEUTICALS INC | [VRTX](https://holderbook.com/stocks/VRTX/) | $34.9M | 76,910 | 4.0% | 1 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $34.3M | 432,457 | 3.9% | 3 |
| FORTREA HLDGS INC | [FTRE](https://holderbook.com/stocks/FTRE/) | $34.3M | 1,986,333 | 3.9% | 1 |
| MERIT MED SYS INC | [MMSI](https://holderbook.com/stocks/MMSI/) | $34.0M | 385,660 | 3.9% | 1 |
| BRIGHTSPRING HEALTH SVCS INC | [BTSG](https://holderbook.com/stocks/BTSG/) | $33.6M | 897,427 | 3.8% | 4 |
| DOXIMITY INC | [DOCS](https://holderbook.com/stocks/DOCS/) | $30.4M | 686,568 | 3.5% | 5 |
| BIO-TECHNE CORP | [TECH](https://holderbook.com/stocks/TECH/) | $27.5M | 467,409 | 3.1% | 1 |
| ALPHATEC HLDGS INC | [ATEC](https://holderbook.com/stocks/ATEC/) | $27.1M | 1,285,685 | 3.1% | 1 |
| ADAPTHEALTH CORP | [AHCO](https://holderbook.com/stocks/AHCO/) | $26.0M | 2,609,003 | 3.0% | 4 |
| ENVISTA HOLDINGS CORPORATION | [NVST](https://holderbook.com/stocks/NVST/) | $25.8M | 1,186,704 | 2.9% | 1 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $23.1M | 70,126 | 2.6% | 1 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $22.0M | 175,333 | 2.5% | 1 |
| IDEAYA BIOSCIENCES INC | [IDYA](https://holderbook.com/stocks/IDYA/) | $16.2M | 467,484 | 1.8% | 2 |
| BIOHAVEN LTD | [BHVN](https://holderbook.com/stocks/BHVN/) | $10.8M | 958,336 | 1.2% | 1 |
| XENON PHARMACEUTICALS INC | [XENE](https://holderbook.com/stocks/XENE/) | $10.5M | 233,688 | 1.2% | 1 |
| DIANTHUS THERAPEUTICS INC | [DNTH](https://holderbook.com/stocks/DNTH/) | $9.5M | 230,730 | 1.1% | 1 |
| MINERALYS THERAPEUTICS INC | [MLYS](https://holderbook.com/stocks/MLYS/) | $9.3M | 257,085 | 1.1% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q4 2025 | +20.1% | +2.4% | +17.7% | 100% |
| Q3 2025 | +8.5% | +7.8% | +0.7% | 100% |
| Q2 2025 | +5.2% | +10.5% | -5.3% | 100% |
| Q1 2025 | -5.2% | -4.6% | -0.7% | 94% |
| Q4 2024 | -8.7% | +2.1% | -10.8% | 99% |
| Q3 2024 | -0.4% | +5.4% | -5.9% | 97% |
| Q2 2024 | -12.0% | +4.0% | -16.1% | 99% |
| Q1 2024 | +7.2% | +10.0% | -2.9% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q4 2025 | $874.7M | 27 |
| Q3 2025 | $703.3M | 25 |
| Q2 2025 | $651.2M | 27 |
| Q1 2025 | $634.4M | 27 |
| Q4 2024 | $908.4M | 22 |
| Q3 2024 | $721.8M | 24 |
| Q2 2024 | $983.7M | 24 |
| Q1 2024 | $976.3M | 28 |
| Q4 2023 | $772.9M | 26 |
| Q3 2023 | $684.2M | 23 |
| Q2 2023 | $748.1M | 23 |
| Q1 2023 | $693.2M | 27 |