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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
+13.51%
1 Year Est. Return
+49.85%
3 Year Est. Return
+151.9%
5 Year Est. Return
+239.84%
10 Year Est. Return
–
AUM
$976M
AUM Growth
+$203M
(+26%)
Cap. Flow
+$115M
Cap. Flow
% of AUM
11.81%
Top 10 Holdings %
Top 10 Hldgs %
53.16%
Holding
40
New
14
Increased
10
Reduced
5
Closed
11
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
West Pharmaceutical
WST
|
+$44.3M |
| 2 |
EXAS
Exact Sciences
EXAS
|
+$44.3M |
| 3 |
Align Technology
ALGN
|
+$41.6M |
| 4 |
APLS
Apellis Pharmaceuticals
APLS
|
+$35.1M |
| 5 |
Neurocrine Biosciences
NBIX
|
+$30M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Universal Health Services
UHS
|
+$49.1M |
| 2 |
Idexx Laboratories
IDXX
|
+$42.2M |
| 3 |
Surgery Partners
SGRY
|
+$33.4M |
| 4 |
Inspire Medical Systems
INSP
|
+$30.5M |
| 5 |
10x Genomics
TXG
|
+$26.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 96.78% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
argenx
ARGX
$55.6B
| $17.7M | 1.81% |
+45,000
| New | +$17.4M |
|
27
CALL
Elanco Animal Health
ELAN
$12.7B
| $9.94M | 1.02% |
+610,500
| New | +$9.54M |
|
28
908 Devices
MASS
$293M
| $7.86M | 0.8% |
1,040,768
-244,179
| -19% | -$1.81M |
|
|
NYXH
29
Nyxoah
NYXH
$140M
| $3.41M | 0.35% |
+253,025
| New | +$2.89M |
|
30
BioMarin Pharmaceuticals
BMRN
$11.6B
| – | – |
-200,000
| Closed | -$19.3M |
|
31
Establishment Labs
ESTA
$2.71B
| – | – |
-331,238
| Closed | -$8.58M |
|
|
32
Idexx Laboratories
IDXX
$43.9B
| – | – |
-76,025
| Closed | -$42.2M |
|
|
33
Inspire Medical Systems
INSP
$1.47B
| – | – |
-150,000
| Closed | -$30.5M |
|
34
Legend Biotech
LEGN
$3.73B
| – | – |
-380,000
| Closed | -$22.9M |
|
35
Pacific Biosciences
PACB
$422M
| – | – |
-1,843,278
| Closed | -$18.1M |
|
36
Repligen
RGEN
$7.39B
| – | – |
-82,537
| Closed | -$14.8M |
|
|
37
Surgery Partners
SGRY
$1.98B
| – | – |
-1,044,530
| Closed | -$33.4M |
|
38
Sanofi
SNY
$105B
| – | – |
-500,000
| Closed | -$24.9M |
|
|
39
10x Genomics
TXG
$5.83B
| – | – |
-479,374
| Closed | -$26.8M |
|
|
40
Universal Health Services
UHS
$9.64B
| – | – |
-321,886
| Closed | -$49.1M |
|
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Iron Triangle Partners's Q1 2024 Portfolio in Review
As of Q1 2024, Iron Triangle Partners held 40 positions worth $976M, up 26% from $773M the previous quarter. Its ten largest holdings account for 53% of the portfolio.
Iron Triangle Partners deployed $115M of net new capital in Q1 2024, opening 14 new positions and adding to 10 existing holdings. Its largest new stake was West Pharmaceutical: 119,736 shares worth $47.4M.
By sector, the portfolio is most concentrated in Healthcare at 97% of assets, down from 100% a quarter earlier.
On the sell side, the largest reduction was Elanco Animal Health, an estimated $26.6M trimmed.
- Iron Triangle Partners's largest Q1 2024 buy was West Pharmaceutical: 119,736 shares worth $47.4M.
- Iron Triangle Partners added most to DexCom in Q1 2024, an estimated $22.8M increase.
- Iron Triangle Partners's biggest Q1 2024 reduction was Elanco Animal Health, cutting an estimated $26.6M.
- Iron Triangle Partners fully exited Universal Health Services in Q1 2024, selling an estimated $49.1M.
- Iron Triangle Partners's ten largest holdings make up 53% of its $976M portfolio in Q1 2024.
- Iron Triangle Partners opened 14 new positions and closed 11 in Q1 2024.
- Iron Triangle Partners's portfolio value rose 26% quarter-over-quarter to $976M.
Based on Iron Triangle Partners's 13F filing for Q1 2024, filed 15 May 2024.