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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
(-31%)
Cap. Flow
-$72.7M
Cap. Flow
% of AUM
-28.13%
Top 10 Holdings %
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 |
Charles River Laboratories
CRL
|
+$15M |
| 3 |
Molina Healthcare
MOH
|
+$12.5M |
| 4 |
CTLT
CATALENT, INC.
CTLT
|
+$10.9M |
| 5 |
Teva Pharmaceuticals
TEVA
|
+$10.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Illumina
ILMN
|
+$27.4M |
| 2 |
Envista
NVST
|
+$17.7M |
| 3 |
Zimmer Biomet
ZBH
|
+$17M |
| 4 |
Elevance Health
ELV
|
+$16.6M |
| 5 |
Repligen
RGEN
|
+$13.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 92.57% |
| 2 | Technology | 4.49% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Guardant Health
GH
$19.3B
| $2.78M | 1.08% |
40,000
-104,378
| -72% | -$8.01M |
|
27
Centene
CNC
$31.6B
| – | – |
-200,000
| Closed | -$12.6M |
|
|
28
Elevance Health
ELV
$82.1B
| – | – |
-55,000
| Closed | -$16.6M |
|
|
EXAS
29
DELISTED
Exact Sciences
EXAS
| – | – |
-139,900
| Closed | -$12.9M |
|
|
30
Illumina
ILMN
$28.7B
| – | – |
-84,810
| Closed | -$27.4M |
|
|
31
Envista
NVST
$4.34B
| – | – |
-596,064
| Closed | -$17.7M |
|
|
32
Repligen
RGEN
$7.39B
| – | – |
-150,000
| Closed | -$13.9M |
|
33
Sanofi
SNY
$105B
| – | – |
-142,220
| Closed | -$7.14M |
|
|
CERN
34
CALL
DELISTED
Cerner Corp
CERN
| – | – |
-200,000
| Closed | -$14.7M |
|
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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 $72.7M 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 93% of assets, down from 93% 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.