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ITP

Iron Triangle Partners Portfolio holdings

AUM $875M
1-Year Est. Return 49.85%
This Fund
S&P 500
This Quarter Est. Return
+3.31%
1 Year Est. Return
+49.85%
3 Year Est. Return
+151.9%
5 Year Est. Return
+239.84%
10 Year Est. Return
–
AUM
$908M
AUM Growth
+$187M
Cap. Flow
+$182M
Cap. Flow %
20.03%
Top 10 Hldgs %
60.19%
Holding
39
New
14
Increased
6
Reduced
3
Closed
16

Top Buys

Rank Stock Value
1
A icon
Agilent Technologies
A
+$81.7M
2
ABBV icon
AbbVie
ABBV
+$68.8M
3
UNH icon
UnitedHealth
UNH
+$68.6M
4
GMED icon
Globus Medical
GMED
+$66.6M
5
BSX icon
Boston Scientific
BSX
+$43.6M

Top Sells

Rank Stock Value
1
ELAN icon
Elanco Animal Health
ELAN
+$62.6M
2
ILMN icon
Illumina
ILMN
+$57.4M
3
THC icon
Tenet Healthcare
THC
+$51.3M
4
ACHC icon
Acadia Healthcare
ACHC
+$50.9M
5
MEDP icon
Medpace
MEDP
+$34.9M

Sector Composition

Rank Sector Weight
1 Healthcare 91.95%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
A icon
1
Agilent Technologies
A
$38.9B
$80.1M 8.82%
+596,326
New +$81.7M
GMED icon
2
Globus Medical
GMED
$10.6B
$69.8M 7.68%
+844,013
New +$66.6M
ABBV icon
3
AbbVie
ABBV
$454B
$66.5M 7.32%
+374,012
New +$68.8M
UNH icon
4
UnitedHealth
UNH
$379B
$61.1M 6.72%
+120,700
New +$68.6M
UNH icon
5
CALL
UnitedHealth
UNH
$379B
$50.6M 5.57%
+100,000
New +$56.8M
TEVA icon
6
Teva Pharmaceuticals
TEVA
$36.2B
$48.5M 5.34%
2,200,036
+256,246
+13% +$4.66M
BSX icon
7
Boston Scientific
BSX
$67.6B
$44.2M 4.87%
+495,009
New +$43.6M
NBIX icon
8
Neurocrine Biosciences
NBIX
$17.7B
$43.4M 4.78%
+318,195
New +$39.4M
NVST icon
9
Envista
NVST
$4.34B
$42.4M 4.67%
2,200,000
+10,631
+0.5% +$210K
PODD icon
10
Insulet
PODD
$11.4B
$40.2M 4.43%
154,014
+44,014
+40% +$11.1M
MMSI icon
11
Merit Medical Systems
MMSI
$4.54B
$39.4M 4.33%
407,022
+154,022
+61% +$15.4M
ISRG icon
12
Intuitive Surgical
ISRG
$128B
$39.1M 4.31%
75,000
+2,999
+4% +$1.56M
DVA icon
13
DaVita
DVA
$15.2B
$38.9M 4.29%
+260,424
New +$40.8M
EXAS
14
DELISTED
Exact Sciences
EXAS
$33.7M 3.71%
600,000
+200,129
+50% +$12.5M
HQY icon
15
HealthEquity
HQY
$8.28B
$32.2M 3.54%
+335,614
New +$31.3M
MEDP icon
16
Medpace
MEDP
$16.5B
$29.9M 3.29%
90,000
-102,842
-53% -$34.9M
TWST icon
17
Twist Bioscience
TWST
$5.39B
$22.9M 2.52%
492,471
-17,529
-3% -$792K
XBI icon
18
State Street SPDR S&P Biotech ETF
XBI
$10.2B
$22.5M 2.48%
+250,000
New +$24.2M
GKOS icon
19
Glaukos
GKOS
$8.92B
$22.5M 2.48%
150,000
-67,674
-31% -$9.32M
CAH icon
20
Cardinal Health
CAH
$53.7B
$22M 2.42%
+186,002
New +$21.7M
ARGX icon
21
argenx
ARGX
$55.6B
$21.5M 2.37%
+35,000
New +$20.5M
WAY
22
Waystar Holding Corp
WAY
$4.44B
$20.3M 2.23%
+551,893
New +$17M
DOCS icon
23
Doximity
DOCS
$3.77B
$16.7M 1.84%
+312,575
New +$15.3M
ACAD icon
24
Acadia Pharmaceuticals
ACAD
$4.35B
– –
-750,000
Closed -$11.5M
ACHC icon
25
Acadia Healthcare
ACHC
$2.99B
– –
-802,151
Closed -$50.9M
1
2

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Iron Triangle Partners's Q4 2024 Portfolio in Review

As of Q4 2024, Iron Triangle Partners held 39 positions worth $908M, up 26% from $722M the previous quarter. Its ten largest holdings account for 60% of the portfolio.

Iron Triangle Partners deployed $182M of net new capital in Q4 2024, opening 14 new positions and adding to 6 existing holdings. Its largest new stake was Agilent Technologies: 596,326 shares worth $80.1M.

By sector, the portfolio is most concentrated in Healthcare at 92% of assets, down from 99% a quarter earlier.

On the sell side, the largest reduction was Medpace, an estimated $34.9M trimmed.

  • Iron Triangle Partners's largest Q4 2024 buy was Agilent Technologies: 596,326 shares worth $80.1M.
  • Iron Triangle Partners added most to Merit Medical Systems in Q4 2024, an estimated $15.4M increase.
  • Iron Triangle Partners's biggest Q4 2024 reduction was Medpace, cutting an estimated $34.9M.
  • Iron Triangle Partners fully exited Elanco Animal Health in Q4 2024, selling an estimated $62.6M.
  • Iron Triangle Partners's ten largest holdings make up 60% of its $908M portfolio in Q4 2024.
  • Iron Triangle Partners opened 14 new positions and closed 16 in Q4 2024.
  • Iron Triangle Partners's portfolio value rose 26% quarter-over-quarter to $908M.

Based on Iron Triangle Partners's 13F filing for Q4 2024, filed 14 Feb 2025.