Iron Triangle Partners LP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Iron Triangle Partners LP reported 27 stock positions worth $874.7 million. Its top holding was Charles River Laboratories (CRL) at 8.7% of the portfolio, followed by Intuitive Surgical (ISRG, 6.1%) and Repligen (RGEN, 6.0%). Compared with Q3 2025, it opened 16 new positions, sold out of 14, added to 8 and reduced 3. The biggest buy was a new position in Intuitive Surgical (ISRG) and the biggest sale an exit from Dexcom (DXCM).
- Most Recent 13F
- Q4 2025
- Location
- Cos Cob, CT
- CIK
- 0001779763
- Portfolio Value
- $874.7M (Q4 2025)
- SEC Filing
- 0001172661-26-000928 ↗ filed Feb 17, 2026
Holdings Value
Holdings 27 stocks · $874.7M
| CRL Charles River Laboratories | 8.66% | 379,728 | $75.7M | Add +41.7% |
| ISRG Intuitive Surgical Inc. | 6.12% | 94,459 | $53.5M | New |
| RGEN Repligen Corp. | 6.00% | 320,474 | $52.5M | Add +18.7% |
| JAZZ Jazz Pharmaceuticals PLC | 5.68% | 292,170 | $49.7M | Add +94.8% |
| VCYT Veracyte Inc. | 4.72% | 980,391 | $41.3M | Add +102.1% |
| BSX Boston Scientific Corp. | 4.59% | 420,773 | $40.1M | New |
| WAT Waters Corp. | 4.57% | 105,167 | $39.9M | New |
| BKD Brookdale Senior Living Inc. | 4.31% | 3,491,663 | $37.7M | Add +23.0% |
| LLY Eli Lilly & Co. | 4.31% | 35,045 | $37.7M | Reduce -29.3% |
| BRKR Bruker Corp. | 4.28% | 794,380 | $37.4M | New |
| VRTX Vertex Pharmaceuticals Inc. | 3.99% | 76,910 | $34.9M | New |
| CVS CVS Health Corp. | 3.92% | 432,457 | $34.3M | Reduce -45.8% |
| FTRE Fortrea Holdings Inc. | 3.92% | 1,986,333 | $34.3M | New |
| MMSI Merit Medical Systems Inc. | 3.89% | 385,660 | $34.0M | New |
| BTSG Brightspring Health Services | 3.84% | 897,427 | $33.6M | Reduce -27.5% |
| DOCS Doximity Inc. Class A | 3.48% | 686,568 | $30.4M | Add +226.9% |
| TECH Bio-Techne Corp. | 3.14% | 467,409 | $27.5M | New |
| ATEC Alphatec Holdings Inc. | 3.09% | 1,285,685 | $27.1M | New |
| AHCO Adapthealth Corp. | 2.97% | 2,609,003 | $26.0M | Add +35.6% |
| NVST Envista Holdings Corp. | 2.95% | 1,186,704 | $25.8M | New |
| UNH Unitedhealth Group Inc. | 2.65% | 70,126 | $23.1M | New |
| ABT Abbott Laboratories | 2.51% | 175,333 | $22.0M | New |
| IDYA Ideaya Biosciences Inc. | 1.85% | 467,484 | $16.2M | Add +73.1% |
| BHVN Biohaven Ltd. | 1.24% | 958,336 | $10.8M | New |
| XENE Xenon Pharmaceuticals Inc. | 1.20% | 233,688 | $10.5M | New |
| DNTH Dianthus Therapeutics Inc. | 1.09% | 230,730 | $9.5M | New |
| MLYS Mineralys Therapeutics Inc. | 1.07% | 257,085 | $9.3M | New |
Portfolio Sells Q3 2025 → Q4 2025
| DXCM Dexcom Inc. | Sold out | 0.00% | −8.13 |
| ABBV Abbvie Inc. | Sold out | 0.00% | −6.60 |
| MDT Medtronic PLC | Sold out | 0.00% | −6.14 |
| CVS CVS Health Corp. | Reduce -45.8% | 3.92% | −4.63 |
| GKOS Glaukos Corp. | Sold out | 0.00% | −3.98 |
| THC Tenet Healthcare Corp. | Sold out | 0.00% | −3.97 |
| EXAS Exact Sciences Corp. | Sold out | 0.00% | −3.89 |
| ADPT Adaptive Biotechnologies | Sold out | 0.00% | −3.87 |
| MDGL Madrigal Pharmaceuticals Inc. | Sold out | 0.00% | −3.81 |
| GH Guardant Health Inc. | Sold out | 0.00% | −3.55 |
| CAH Cardinal Health Inc. | Sold out | 0.00% | −3.08 |
| NBIX Neurocrine Biosciences Inc. | Sold out | 0.00% | −2.62 |
| WST West Pharmaceutical Services | Sold out | 0.00% | −2.61 |
| FOLD Amicus Therapeutics Inc. | Sold out | 0.00% | −2.21 |
| BTSG Brightspring Health Services | Reduce -27.5% | 3.84% | −1.36 |
| LLY Eli Lilly & Co. | Reduce -29.3% | 4.31% | −1.07 |
| ARGX Argenx SE - ADR | Sold out | 0.00% | −1.04 |
Portfolio Buys Q3 2025 → Q4 2025
| ISRG Intuitive Surgical Inc. | New | 6.12% | +6.12 |
| BSX Boston Scientific Corp. | New | 4.59% | +4.59 |
| WAT Waters Corp. | New | 4.57% | +4.57 |
| BRKR Bruker Corp. | New | 4.28% | +4.28 |
| VRTX Vertex Pharmaceuticals Inc. | New | 3.99% | +3.99 |
| FTRE Fortrea Holdings Inc. | New | 3.92% | +3.92 |
| MMSI Merit Medical Systems Inc. | New | 3.89% | +3.89 |
| TECH Bio-Techne Corp. | New | 3.14% | +3.14 |
| ATEC Alphatec Holdings Inc. | New | 3.09% | +3.09 |
| NVST Envista Holdings Corp. | New | 2.95% | +2.95 |
| JAZZ Jazz Pharmaceuticals PLC | Add +94.8% | 5.68% | +2.87 |
| CRL Charles River Laboratories | Add +41.7% | 8.66% | +2.70 |
| UNH Unitedhealth Group Inc. | New | 2.65% | +2.65 |
| ABT Abbott Laboratories | New | 2.51% | +2.51 |
| VCYT Veracyte Inc. | Add +102.1% | 4.72% | +2.35 |
| DOCS Doximity Inc. Class A | Add +226.9% | 3.48% | +1.29 |
| BHVN Biohaven Ltd. | New | 1.24% | +1.24 |
| XENE Xenon Pharmaceuticals Inc. | New | 1.20% | +1.20 |
| DNTH Dianthus Therapeutics Inc. | New | 1.09% | +1.09 |
| MLYS Mineralys Therapeutics Inc. | New | 1.07% | +1.07 |
| BKD Brookdale Senior Living Inc. | Add +23.0% | 4.31% | +0.89 |
| RGEN Repligen Corp. | Add +18.7% | 6.00% | +0.87 |
| IDYA Ideaya Biosciences Inc. | Add +73.1% | 1.85% | +0.80 |
| AHCO Adapthealth Corp. | Add +35.6% | 2.97% | +0.52 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q4 2025 | 27 | $874.7M | CRL, ISRG, RGEN, JAZZ, VCYT |
| Q3 2025 | 25 | $703.3M | CVS, DXCM, ABBV, MDT, CRL |
| Q2 2025 | 26 | $631.9M | CVS, CRL, ABBV, MMSI, ICLR |
| Q1 2025 | 27 | $634.4M | DVA, CAH, ABBV, TEVA, BSX |
| Q4 2024 | 22 | $857.9M | A, GMED, ABBV, UNH, TEVA |
| Q3 2024 | 24 | $711.2M | MEDP, ELAN, ILMN, THC, ACHC |
| Q2 2024 | 24 | $954.0M | EW, DXCM, GKOS, ACHC, ISRG |
| Q1 2024 | 28 | $966.4M | ACHC, DXCM, ICLR, ABBV, ISRG |