Iron Triangle Partners LP In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Iron Triangle Partners LP reported 26 stock positions worth $631.9 million . Its top holding was CVS Health (CVS) at 8.2% of the portfolio, followed by Charles River Laboratories (CRL, 7.7% ) and Abbvie (ABBV, 7.3% ). Compared with Q1 2025, it opened 9 new positions, sold out of 10, added to 7 and reduced 10. The biggest buy was a new position in CVS Health (CVS) and the biggest sale an exit from Davita (DVA).
Location Cos Cob, CT
CIK 0001779763
Portfolio Value $631.9M (Q2 2025) Holdings 26 stocks · $631.9M Holdings quarter Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2025 CVS CVS Health Corp. 750,000 $51.7M New CRL Charles River Laboratories 320,000 $48.6M New ABBV Abbvie Inc. 249,997 $46.4M Add +29.6% MMSI Merit Medical Systems Inc. 392,783 $36.7M Add +71.0% ICLR Icon PLC 250,000 $36.4M New MDT Medtronic PLC 400,000 $34.9M New THC Tenet Healthcare Corp. 190,000 $33.4M Reduce -9.3% ISRG Intuitive Surgical Inc. 60,000 $32.6M Add +100.0% HCA HCA Healthcare Inc. 80,000 $30.6M New DOCS Doximity Inc. Class A 471,300 $28.9M Add +30.9% BTSG Brightspring Health Services 1,200,000 $28.3M Add +66.1% GKOS Glaukos Corp. 271,163 $28.0M New PODD Insulet Corp. 68,041 $21.4M Reduce -35.8% AHCO Adapthealth Corp. 1,920,019 $18.1M Add +19.0% CAH Cardinal Health Inc. 105,257 $17.7M Reduce -64.9% ADPT Adaptive Biotechnologies 1,495,883 $17.4M Reduce -29.9% EXAS Exact Sciences Corp. 300,000 $15.9M New TWST Twist Bioscience Corp. 424,355 $15.6M Add +0.1% GH Guardant Health Inc. 300,000 $15.6M Reduce -50.1% ONC Beone Medicines Ltd.-ADR 60,000 $14.5M Reduce -38.7% NVST Envista Holdings Corp. 620,000 $12.1M Reduce -49.7% BKD Brookdale Senior Living Inc. 1,700,000 $11.8M New EHAB Enhabit Inc. 1,027,972 $9.9M Reduce -9.8% ALNY Alnylam Pharmaceuticals Inc. 29,339 $9.6M Reduce -55.1% ARGX Argenx SE - ADR 15,567 $8.6M Reduce -44.1% INSM Insmed Inc. 70,000 $7.0M New
Options reported separately and not counted above: OSCR puts ($19.3M).
Portfolio Sells Q1 2025 → Q2 2025 Portfolio Sells quarter Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▲ DVA Davita Inc. Sold out 0.00% −7.71 TEVA Teva Pharmaceutical-SP ADR Sold out 0.00% −5.37 BSX Boston Scientific Corp. Sold out 0.00% −5.28 GMED Globus Medical Inc. Class A Sold out 0.00% −4.98 AZN Astrazeneca PLC-Spons ADR Sold out 0.00% −4.36 A Agilent Technologies Inc. Sold out 0.00% −3.84 CAH Cardinal Health Inc. Reduce -64.9% 2.80% −3.72 NBIX Neurocrine Biosciences Inc. Sold out 0.00% −2.56 JAZZ Jazz Pharmaceuticals PLC Sold out 0.00% −2.54 TECH Bio-Techne Corp. Sold out 0.00% −2.31 ONC Beone Medicines Ltd.-ADR Reduce -38.7% 2.30% −1.90 GH Guardant Health Inc. Reduce -50.1% 2.47% −1.56 NVST Envista Holdings Corp. Reduce -49.7% 1.92% −1.44 TXG 10X Genomics Inc. Class A Sold out 0.00% −1.38 ALNY Alnylam Pharmaceuticals Inc. Reduce -55.1% 1.51% −1.27 ARGX Argenx SE - ADR Reduce -44.1% 1.36% −1.24 PODD Insulet Corp. Reduce -35.8% 3.38% −1.01 EHAB Enhabit Inc. Reduce -9.8% 1.57% −0.01 ADPT Adaptive Biotechnologies Reduce -29.9% 2.76% +0.26 THC Tenet Healthcare Corp. Reduce -9.3% 5.29% +0.85
Portfolio Buys Q1 2025 → Q2 2025 Portfolio Buys quarter Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▼ CVS CVS Health Corp. New 8.19% +8.19 CRL Charles River Laboratories New 7.68% +7.68 ICLR Icon PLC New 5.75% +5.75 MDT Medtronic PLC New 5.52% +5.52 HCA HCA Healthcare Inc. New 4.85% +4.85 GKOS Glaukos Corp. New 4.43% +4.43 ISRG Intuitive Surgical Inc. Add +100.0% 5.16% +2.82 EXAS Exact Sciences Corp. New 2.52% +2.52 BTSG Brightspring Health Services Add +66.1% 4.48% +2.42 MMSI Merit Medical Systems Inc. Add +71.0% 5.81% +1.98 BKD Brookdale Senior Living Inc. New 1.87% +1.87 DOCS Doximity Inc. Class A Add +30.9% 4.58% +1.28 INSM Insmed Inc. New 1.11% +1.11 ABBV Abbvie Inc. Add +29.6% 7.34% +0.98 AHCO Adapthealth Corp. Add +19.0% 2.87% +0.11 TWST Twist Bioscience Corp. Add +0.1% 2.47% −0.15
Options Activity Q1 2025 → Q2 2025 Security Type Change vs Q1 2025 Underlying Shares Value ▼ OSCR Oscar Health Inc. Class A put New 900,000 $19.3M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
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