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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
+9.79%
1 Year Est. Return
+49.85%
3 Year Est. Return
+151.9%
5 Year Est. Return
+239.84%
10 Year Est. Return
–
AUM
$786M
AUM Growth
+$15M
Cap. Flow
-$41.4M
Cap. Flow %
-5.26%
Top 10 Hldgs %
59.84%
Holding
34
New
8
Increased
8
Reduced
7
Closed
7

Top Buys

Rank Stock Value
1
LH icon
Labcorp
LH
+$39.7M
2
ALGN icon
Align Technology
ALGN
+$38.7M
3
LUNG icon
Pulmonx
LUNG
+$34.4M
4
ABBV icon
AbbVie
ABBV
+$32.1M
5
EHC icon
Encompass Health
EHC
+$22.5M

Top Sells

Rank Stock Value
1
EXAS
Exact Sciences
EXAS
+$54.8M
2
HCA icon
HCA Healthcare
HCA
+$46M
3
DXCM icon
DexCom
DXCM
+$27.7M
4
VCEL icon
Vericel Corp
VCEL
+$19M
5
HRTX icon
Heron Therapeutics
HRTX
+$18.3M

Sector Composition

Rank Sector Weight
1 Healthcare 98.6%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
OM icon
26
Outset Medical
OM
$80.1M
$5.44M 0.69%
6,667
-3,333
-33% -$2.57M
RPRX icon
27
Royalty Pharma
RPRX
$26B
$4.36M 0.55%
100,000
– –
DVA icon
28
DaVita
DVA
$15.2B
– –
-140,000
Closed -$16.4M
DXCM icon
29
DexCom
DXCM
$28.3B
– –
-300,000
Closed -$27.7M
HCA icon
30
HCA Healthcare
HCA
$86.4B
– –
-280,000
Closed -$46M
HRTX icon
31
Heron Therapeutics
HRTX
$86.9M
– –
-865,072
Closed -$18.3M
IWM icon
32
PUT
iShares Russell 2000 ETF
IWM
$80.3B
– –
-300,000
Closed -$58.8M
ACH
33
Accendra Health
ACH
$247M
– –
-454,419
Closed -$12.3M
CTLT
34
DELISTED
CATALENT, INC.
CTLT
– –
-160,000
Closed -$16.7M
1
2

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Iron Triangle Partners's Q1 2021 Portfolio in Review

As of Q1 2021, Iron Triangle Partners held 34 positions worth $786M, up 1.9% from $771M the previous quarter. Its ten largest holdings account for 60% of the portfolio.

Iron Triangle Partners withdrew a net $41.4M in Q1 2021, closing 7 positions and reducing 7 holdings. Its most notable exit was HCA Healthcare, an estimated $46M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 99% of assets, up from 92% a quarter earlier.

Against the trend, Iron Triangle Partners opened a new position in Labcorp worth $43.4M.

  • Iron Triangle Partners's largest Q1 2021 buy was Labcorp: 197,880 shares worth $43.4M.
  • Iron Triangle Partners added most to Encompass Health in Q1 2021, an estimated $22.5M increase.
  • Iron Triangle Partners's biggest Q1 2021 reduction was Exact Sciences, cutting an estimated $54.8M.
  • Iron Triangle Partners fully exited HCA Healthcare in Q1 2021, selling an estimated $46M.
  • Iron Triangle Partners's ten largest holdings make up 60% of its $786M portfolio in Q1 2021.
  • Iron Triangle Partners opened 8 new positions and closed 7 in Q1 2021.
  • Iron Triangle Partners's portfolio value rose 1.9% quarter-over-quarter to $786M.

Based on Iron Triangle Partners's 13F filing for Q1 2021, filed 17 May 2021.