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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
-10.72%
1 Year Est. Return
+49.85%
3 Year Est. Return
+151.9%
5 Year Est. Return
+239.84%
10 Year Est. Return
–
AUM
$259M
AUM Growth
-$119M
Cap. Flow
-$58M
Cap. Flow %
-22.45%
Top 10 Hldgs %
57.74%
Holding
34
New
11
Increased
3
Reduced
11
Closed
8

Top Buys

Rank Stock Value
1
CHNG
Change Healthcare Inc. Common Stock
CHNG
+$16.2M
2
CRL icon
Charles River Laboratories
CRL
+$15M
3
MOH icon
Molina Healthcare
MOH
+$12.5M
4
CTLT
CATALENT, INC.
CTLT
+$10.9M
5
TEVA icon
Teva Pharmaceutical Industries Limited
TEVA
+$10.2M

Top Sells

Rank Stock Value
1
ILMN icon
Illumina
ILMN
+$27.4M
2
NVST icon
Envista
NVST
+$17.7M
3
ZBH icon
Zimmer Biomet
ZBH
+$17M
4
ELV icon
Elevance Health
ELV
+$16.6M
5
RGEN icon
Repligen
RGEN
+$13.9M

Sector Composition

Rank Sector Weight
1 Healthcare 95.51%
2 Technology 4.49%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GH icon
26
Guardant Health
GH
$24.6B
$2.78M 1.08%
40,000
-104,378
-72% -$8.01M
CNC icon
27
Centene
CNC
$33.1B
– –
-200,000
Closed -$12.6M
ELV icon
28
Elevance Health
ELV
$89.8B
– –
-55,000
Closed -$16.6M
EXAS
29
DELISTED
Exact Sciences
EXAS
– –
-139,900
Closed -$12.9M
ILMN icon
30
Illumina
ILMN
$37B
– –
-84,810
Closed -$27.4M
NVST icon
31
Envista
NVST
$3.81B
– –
-596,064
Closed -$17.7M
RGEN icon
32
Repligen
RGEN
$10.1B
– –
-150,000
Closed -$13.9M
SNY icon
33
Sanofi
SNY
$103B
– –
-142,220
Closed -$7.14M
CERN
34
CALL
DELISTED
Cerner Corp
CERN
– –
-200,000
Closed -$14.7M
1
2

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Iron Triangle Partners's Q1 2020 Portfolio in Review

As of Q1 2020, Iron Triangle Partners held 34 positions worth $259M, down 31% from $377M the previous quarter. Its ten largest holdings account for 58% of the portfolio.

Iron Triangle Partners withdrew a net $58M in Q1 2020, closing 8 positions and reducing 11 holdings. Its most notable exit was Illumina, an estimated $27.4M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 96% of assets, down from 96% a quarter earlier, followed by Technology.

Against the trend, Iron Triangle Partners opened a new position in Change Healthcare Inc. Common Stock worth $11.6M.

  • Iron Triangle Partners's largest Q1 2020 buy was Change Healthcare Inc. Common Stock: 1,161,713 shares worth $11.6M.
  • Iron Triangle Partners added most to NEVRO CORP. in Q1 2020, an estimated $6.09M increase.
  • Iron Triangle Partners's biggest Q1 2020 reduction was Zimmer Biomet, cutting an estimated $17M.
  • Iron Triangle Partners fully exited Illumina in Q1 2020, selling an estimated $27.4M.
  • Iron Triangle Partners's ten largest holdings make up 58% of its $259M portfolio in Q1 2020.
  • Iron Triangle Partners opened 11 new positions and closed 8 in Q1 2020.
  • Iron Triangle Partners's portfolio value fell 31% quarter-over-quarter to $259M.

Based on Iron Triangle Partners's 13F filing for Q1 2020, filed 15 May 2020.