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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
+30.5%
1 Year Est. Return
+49.85%
3 Year Est. Return
+151.9%
5 Year Est. Return
+239.84%
10 Year Est. Return
–
AUM
$397M
AUM Growth
+$139M
Cap. Flow
+$84.8M
Cap. Flow %
21.35%
Top 10 Hldgs %
59.44%
Holding
33
New
7
Increased
12
Reduced
2
Closed
9

Top Buys

Rank Stock Value
1
HOLX
Hologic
HOLX
+$24.5M
2
BAX icon
Baxter International
BAX
+$20M
3
IQV icon
IQVIA
IQV
+$18.6M
4
EHC icon
Encompass Health
EHC
+$10.2M
5
GH icon
Guardant Health
GH
+$10.1M

Top Sells

Rank Stock Value
1
HUM icon
Humana
HUM
+$12.6M
2
COR icon
Cencora
COR
+$9.73M
3
TEVA icon
Teva Pharmaceuticals
TEVA
+$8.98M
4
HCA icon
HCA Healthcare
HCA
+$7.19M
5
ISRG icon
Intuitive Surgical
ISRG
+$6.93M

Sector Composition

Rank Sector Weight
1 Healthcare 90.25%
2 Technology 3.24%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EHC icon
1
Encompass Health
EHC
$11.3B
$34.1M 8.58%
691,350
+188,550
+38% +$10.2M
HOLX
2
DELISTED
Hologic
HOLX
$28.5M 7.18%
+500,000
New +$24.5M
BAX icon
3
Baxter International
BAX
$12.1B
$28.4M 7.16%
330,000
+230,000
+230% +$20M
HZNP
4
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$24.2M 6.1%
436,127
-63,873
-13% -$2.73M
CRL icon
5
Charles River Laboratories
CRL
$10.8B
$22.7M 5.71%
130,000
+30,000
+30% +$4.79M
BSX icon
6
Boston Scientific
BSX
$67.6B
$21.1M 5.31%
600,000
– –
CTLT
7
DELISTED
CATALENT, INC.
CTLT
$20.5M 5.17%
280,000
+80,000
+40% +$5.43M
IQV icon
8
IQVIA
IQV
$35.6B
$19.5M 4.92%
+137,577
New +$18.6M
TWST icon
9
Twist Bioscience
TWST
$5.39B
$19M 4.8%
420,510
+43,470
+12% +$1.56M
NVRO
10
DELISTED
NEVRO CORP.
NVRO
$18M 4.53%
150,485
+10,485
+7% +$1.24M
MOH icon
11
Molina Healthcare
MOH
$10.4B
$17.8M 4.48%
100,000
+6,903
+7% +$1.18M
BMY icon
12
Bristol-Myers Squibb
BMY
$128B
$16.9M 4.26%
287,710
+37,710
+15% +$2.26M
INOV
13
DELISTED
Inovalon Holdings, Inc. Class A Common Stock
INOV
$14.1M 3.56%
733,053
+276,402
+61% +$4.9M
GH icon
14
Guardant Health
GH
$19.3B
$13.4M 3.38%
165,500
+125,500
+314% +$10.1M
MCK icon
15
McKesson
MCK
$99.5B
$13M 3.28%
85,000
+20,000
+31% +$2.89M
CHNG
16
DELISTED
Change Healthcare Inc. Common Stock
CHNG
$12.9M 3.24%
1,147,800
-13,913
-1% -$156K
AXNX
17
DELISTED
Axonics, Inc. Common Stock
AXNX
$12.2M 3.07%
347,591
+147,591
+74% +$5.08M
BMY icon
18
CALL
Bristol-Myers Squibb
BMY
$128B
$11.8M 2.96%
+200,000
New +$12M
NVST icon
19
Envista
NVST
$4.34B
$10.5M 2.66%
+500,000
New +$9.37M
INSP icon
20
Inspire Medical Systems
INSP
$1.47B
$10.1M 2.54%
+116,054
New +$8.92M
ZBH icon
21
Zimmer Biomet
ZBH
$17.8B
$8.36M 2.1%
72,100
– –
SGRY icon
22
Surgery Partners
SGRY
$1.98B
$7.83M 1.97%
+676,652
New +$7.42M
ADPT icon
23
Adaptive Biotechnologies
ADPT
$3.61B
$7.26M 1.83%
150,000
– –
RPRX icon
24
Royalty Pharma
RPRX
$26B
$4.86M 1.22%
+100,000
New +$4.95M
BKD icon
25
Brookdale Senior Living
BKD
$3.69B
– –
-1,500,000
Closed -$4.68M
1
2

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Iron Triangle Partners's Q2 2020 Portfolio in Review

As of Q2 2020, Iron Triangle Partners held 33 positions worth $397M, up 54% from $259M the previous quarter. Its ten largest holdings account for 59% of the portfolio.

Iron Triangle Partners deployed $84.8M of net new capital in Q2 2020, opening 7 new positions and adding to 12 existing holdings. Its largest new stake was Hologic: 500,000 shares worth $28.5M.

By sector, the portfolio is most concentrated in Healthcare at 90% of assets, down from 93% a quarter earlier, followed by Technology.

On the sell side, the largest reduction was Horizon Therapeutics Public Limited Company Ordinary Shares, an estimated $2.73M trimmed.

  • Iron Triangle Partners's largest Q2 2020 buy was Hologic: 500,000 shares worth $28.5M.
  • Iron Triangle Partners added most to Baxter International in Q2 2020, an estimated $20M increase.
  • Iron Triangle Partners's biggest Q2 2020 reduction was Horizon Therapeutics Public Limited Company Ordinary Shares, cutting an estimated $2.73M.
  • Iron Triangle Partners fully exited Humana in Q2 2020, selling an estimated $12.6M.
  • Iron Triangle Partners's ten largest holdings make up 59% of its $397M portfolio in Q2 2020.
  • Iron Triangle Partners opened 7 new positions and closed 9 in Q2 2020.
  • Iron Triangle Partners's portfolio value rose 54% quarter-over-quarter to $397M.

Based on Iron Triangle Partners's 13F filing for Q2 2020, filed 14 Aug 2020.