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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
-12.41%
1 Year Est. Return
+49.85%
3 Year Est. Return
+151.9%
5 Year Est. Return
+239.84%
10 Year Est. Return
–
AUM
$684M
AUM Growth
-$63.8M
Cap. Flow
+$21.9M
Cap. Flow %
3.2%
Top 10 Hldgs %
63.17%
Holding
29
New
6
Increased
11
Reduced
6
Closed
6

Top Buys

Rank Stock Value
1
DXCM icon
DexCom
DXCM
+$46.9M
2
ELAN icon
Elanco Animal Health
ELAN
+$39.6M
3
APLS
Apellis Pharmaceuticals
APLS
+$38.7M
4
LEGN icon
Legend Biotech
LEGN
+$31.4M
5
MCK icon
McKesson
MCK
+$29.5M

Top Sells

Rank Stock Value
1
ICLR icon
Icon
ICLR
+$55.4M
2
ABBV icon
AbbVie
ABBV
+$29.4M
3
COO icon
Cooper Companies
COO
+$28.8M
4
SGRY icon
Surgery Partners
SGRY
+$26.1M
5
BSX icon
Boston Scientific
BSX
+$23.6M

Sector Composition

Rank Sector Weight
1 Healthcare 100%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
INSP icon
26
Inspire Medical Systems
INSP
$1.47B
– –
-70,000
Closed -$22.7M
NBIX icon
27
PUT
Neurocrine Biosciences
NBIX
$17.7B
– –
-196,000
Closed -$18.5M
SGRY icon
28
Surgery Partners
SGRY
$1.98B
– –
-580,973
Closed -$26.1M
TMDX icon
29
Transmedics
TMDX
$2.57B
– –
-180,000
Closed -$15.1M
1
2

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Iron Triangle Partners's Q3 2023 Portfolio in Review

As of Q3 2023, Iron Triangle Partners held 29 positions worth $684M, down 8.5% from $748M the previous quarter. Its ten largest holdings account for 63% of the portfolio.

Iron Triangle Partners deployed $21.9M of net new capital in Q3 2023, opening 6 new positions and adding to 11 existing holdings. Its largest new stake was Elanco Animal Health: 3,412,350 shares worth $38.4M.

By sector, the portfolio is most concentrated in Healthcare at 100% of assets, up from 98% a quarter earlier.

On the sell side, the largest reduction was Icon, an estimated $55.4M trimmed.

  • Iron Triangle Partners's largest Q3 2023 buy was Elanco Animal Health: 3,412,350 shares worth $38.4M.
  • Iron Triangle Partners added most to DexCom in Q3 2023, an estimated $46.9M increase.
  • Iron Triangle Partners's biggest Q3 2023 reduction was Icon, cutting an estimated $55.4M.
  • Iron Triangle Partners fully exited Cooper Companies in Q3 2023, selling an estimated $28.8M.
  • Iron Triangle Partners's ten largest holdings make up 63% of its $684M portfolio in Q3 2023.
  • Iron Triangle Partners opened 6 new positions and closed 6 in Q3 2023.
  • Iron Triangle Partners's portfolio value fell 8.5% quarter-over-quarter to $684M.

Based on Iron Triangle Partners's 13F filing for Q3 2023, filed 14 Nov 2023.