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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
-10.05%
1 Year Est. Return
+49.85%
3 Year Est. Return
+151.9%
5 Year Est. Return
+239.84%
10 Year Est. Return
–
AUM
$771M
AUM Growth
-$69.6M
(-8.3%)
Cap. Flow
+$29.3M
Cap. Flow
% of AUM
3.8%
Top 10 Holdings %
Top 10 Hldgs %
66.45%
Holding
38
New
10
Increased
7
Reduced
7
Closed
13
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Humana
HUM
|
+$44.5M |
| 2 |
Boston Scientific
BSX
|
+$40.7M |
| 3 |
Repligen
RGEN
|
+$39.5M |
| 4 |
Neurocrine Biosciences
NBIX
|
+$32.3M |
| 5 |
Bio-Rad Laboratories Class A
BIO
|
+$30.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
UnitedHealth
UNH
|
+$45.9M |
| 2 |
CTLT
CATALENT, INC.
CTLT
|
+$43.5M |
| 3 |
NVRO
NEVRO CORP.
NVRO
|
+$40.7M |
| 4 |
Illumina
ILMN
|
+$38.4M |
| 5 |
HOLX
Hologic
HOLX
|
+$36.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 79.16% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Align Technology
ALGN
$12B
| – | – |
-50,000
| Closed | -$21.8M |
|
27
GoodRx Holdings
GDRX
$1.03B
| – | – |
-1,089,677
| Closed | -$21.1M |
|
|
HOLX
28
DELISTED
Hologic
HOLX
| – | – |
-480,000
| Closed | -$36.9M |
|
29
ICU Medical
ICUI
$4.04B
| – | – |
-136,313
| Closed | -$30.3M |
|
|
30
Illumina
ILMN
$28.7B
| – | – |
-113,080
| Closed | -$38.4M |
|
31
Molina Healthcare
MOH
$10.4B
| – | – |
-100,000
| Closed | -$33.4M |
|
32
Envista
NVST
$4.34B
| – | – |
-300,000
| Closed | -$14.6M |
|
|
33
UnitedHealth
UNH
$379B
| – | – |
-90,014
| Closed | -$45.9M |
|
34
United Therapeutics
UTHR
$26.3B
| – | – |
-190,073
| Closed | -$34.1M |
|
|
NVRO
35
DELISTED
NEVRO CORP.
NVRO
| – | – |
-562,833
| Closed | -$40.7M |
|
|
CTLT
36
DELISTED
CATALENT, INC.
CTLT
| – | – |
-392,663
| Closed | -$43.5M |
|
|
NSTG
37
DELISTED
NanoString Technologies, Inc.
NSTG
| – | – |
-722,395
| Closed | -$25.1M |
|
|
SGEN
38
DELISTED
Seagen Inc. Common Stock
SGEN
| – | – |
-130,000
| Closed | -$18.7M |
|
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Iron Triangle Partners's Q2 2022 Portfolio in Review
As of Q2 2022, Iron Triangle Partners held 38 positions worth $771M, down 8.3% from $841M the previous quarter. Its ten largest holdings account for 66% of the portfolio.
Iron Triangle Partners deployed $29.3M of net new capital in Q2 2022, opening 10 new positions and adding to 7 existing holdings. Its largest new stake was Humana: 100,000 shares worth $46.8M.
By sector, the portfolio is most concentrated in Healthcare at 79% of assets, down from 99% a quarter earlier.
On the sell side, the largest reduction was Horizon Therapeutics Public Limited Company Ordinary Shares, an estimated $33.5M trimmed.
- Iron Triangle Partners's largest Q2 2022 buy was Humana: 100,000 shares worth $46.8M.
- Iron Triangle Partners added most to DexCom in Q2 2022, an estimated $20.1M increase.
- Iron Triangle Partners's biggest Q2 2022 reduction was Horizon Therapeutics Public Limited Company Ordinary Shares, cutting an estimated $33.5M.
- Iron Triangle Partners fully exited UnitedHealth in Q2 2022, selling an estimated $45.9M.
- Iron Triangle Partners's ten largest holdings make up 66% of its $771M portfolio in Q2 2022.
- Iron Triangle Partners opened 10 new positions and closed 13 in Q2 2022.
- Iron Triangle Partners's portfolio value fell 8.3% quarter-over-quarter to $771M.
Based on Iron Triangle Partners's 13F filing for Q2 2022, filed 15 Aug 2022.