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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
+4.75%
1 Year Est. Return
+49.85%
3 Year Est. Return
+151.9%
5 Year Est. Return
+239.84%
10 Year Est. Return
–
AUM
$634M
AUM Growth
-$274M
(-30%)
Cap. Flow
-$265M
Cap. Flow
% of AUM
-41.7%
Top 10 Holdings %
Top 10 Hldgs %
53.61%
Holding
35
New
12
Increased
4
Reduced
11
Closed
8
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Tenet Healthcare
THC
|
+$27.6M |
| 2 |
AstraZeneca
AZN
|
+$27.2M |
| 3 |
Guardant Health
GH
|
+$25.9M |
| 4 |
ONC
BeOne Medicines Ltd
ONC
|
+$22.9M |
| 5 |
Jazz Pharmaceuticals
JAZZ
|
+$17M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
UnitedHealth
UNH
|
+$61.1M |
| 2 |
Agilent Technologies
A
|
+$52.3M |
| 3 |
AbbVie
ABBV
|
+$35.2M |
| 4 |
Globus Medical
GMED
|
+$34.1M |
| 5 |
EXAS
Exact Sciences
EXAS
|
+$33.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 100% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
DaVita
DVA
$15.2B
| $48.9M | 7.71% |
319,566
+59,142
| +23% | +$9.29M |
|
2
Cardinal Health
CAH
$53.7B
| $41.3M | 6.52% |
300,000
+113,998
| +61% | +$14.5M |
|
|
3
AbbVie
ABBV
$454B
| $40.4M | 6.37% |
192,819
-181,193
| -48% | -$35.2M |
|
4
Teva Pharmaceuticals
TEVA
$36.2B
| $34.1M | 5.37% |
2,217,730
+17,694
| +0.8% | +$316K |
|
5
Boston Scientific
BSX
$67.6B
| $33.5M | 5.28% |
332,167
-162,842
| -33% | -$16.4M |
|
|
6
Globus Medical
GMED
$10.6B
| $31.6M | 4.98% |
431,221
-412,792
| -49% | -$34.1M |
|
|
7
Tenet Healthcare
THC
$21B
| $28.2M | 4.44% |
+209,454
| New | +$27.6M |
|
8
Insulet
PODD
$11.4B
| $27.8M | 4.39% |
106,029
-47,985
| -31% | -$13M |
|
|
9
AstraZeneca
AZN
$263B
| $27.7M | 4.36% |
+188,165
| New | +$27.2M |
|
|
ONC
10
BeOne Medicines Ltd
ONC
$33.8B
| $26.6M | 4.2% |
+97,840
| New | +$22.9M |
|
|
11
Guardant Health
GH
$19.3B
| $25.6M | 4.03% |
+600,867
| New | +$25.9M |
|
|
12
Agilent Technologies
A
$38.9B
| $24.4M | 3.84% |
208,438
-387,888
| -65% | -$52.3M |
|
13
Merit Medical Systems
MMSI
$4.54B
| $24.3M | 3.83% |
229,738
-177,284
| -44% | -$18.3M |
|
14
Envista
NVST
$4.34B
| $21.3M | 3.35% |
1,232,798
-967,202
| -44% | -$18.8M |
|
15
Doximity
DOCS
$3.77B
| $20.9M | 3.29% |
360,000
+47,425
| +15% | +$2.99M |
|
16
Alnylam Pharmaceuticals
ALNY
$37.2B
| $17.7M | 2.78% |
+65,409
| New | +$16.8M |
|
17
AdaptHealth
AHCO
$1.49B
| $17.5M | 2.76% |
+1,614,045
| New | +$16.2M |
|
18
Twist Bioscience
TWST
$5.39B
| $16.6M | 2.62% |
423,913
-68,558
| -14% | -$3.09M |
|
19
argenx
ARGX
$55.6B
| $16.5M | 2.6% |
27,874
-7,126
| -20% | -$4.5M |
|
20
Neurocrine Biosciences
NBIX
$17.7B
| $16.2M | 2.56% |
146,836
-171,359
| -54% | -$21.7M |
|
|
21
Jazz Pharmaceuticals
JAZZ
$16B
| $16.1M | 2.54% |
+130,000
| New | +$17M |
|
22
Adaptive Biotechnologies
ADPT
$3.61B
| $15.9M | 2.5% |
+2,134,061
| New | +$16.4M |
|
23
Intuitive Surgical
ISRG
$128B
| $14.9M | 2.34% |
30,000
-45,000
| -60% | -$24.9M |
|
24
Bio-Techne
TECH
$11.2B
| $14.7M | 2.31% |
+250,000
| New | +$16.9M |
|
25
BrightSpring Health Services
BTSG
$14.1B
| $13.1M | 2.06% |
+722,341
| New | +$14.2M |
|
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Iron Triangle Partners's Q1 2025 Portfolio in Review
As of Q1 2025, Iron Triangle Partners held 35 positions worth $634M, down 30% from $908M the previous quarter. Its ten largest holdings account for 54% of the portfolio.
Iron Triangle Partners withdrew a net $265M in Q1 2025, closing 8 positions and reducing 11 holdings. Its most notable exit was UnitedHealth, an estimated $61.1M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 100% of assets, up from 92% a quarter earlier.
Against the trend, Iron Triangle Partners opened a new position in Tenet Healthcare worth $28.2M.
- Iron Triangle Partners's largest Q1 2025 buy was Tenet Healthcare: 209,454 shares worth $28.2M.
- Iron Triangle Partners added most to Cardinal Health in Q1 2025, an estimated $14.5M increase.
- Iron Triangle Partners's biggest Q1 2025 reduction was Agilent Technologies, cutting an estimated $52.3M.
- Iron Triangle Partners fully exited UnitedHealth in Q1 2025, selling an estimated $61.1M.
- Iron Triangle Partners's ten largest holdings make up 54% of its $634M portfolio in Q1 2025.
- Iron Triangle Partners opened 12 new positions and closed 8 in Q1 2025.
- Iron Triangle Partners's portfolio value fell 30% quarter-over-quarter to $634M.
Based on Iron Triangle Partners's 13F filing for Q1 2025, filed 15 May 2025.