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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
+26.2%
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
+$324M
Cap. Flow
+$208M
Cap. Flow %
26.98%
Top 10 Hldgs %
60.02%
Holding
35
New
10
Increased
8
Reduced
4
Closed
9

Top Buys

Rank Stock Value
1
EXAS
Exact Sciences
EXAS
+$60.5M
2
UNH icon
UnitedHealth
UNH
+$44.4M
3
HCA icon
HCA Healthcare
HCA
+$40.9M
4
HAE icon
Haemonetics
HAE
+$29.7M
5
DXCM icon
DexCom
DXCM
+$26.8M

Top Sells

Rank Stock Value
1
HOLX
Hologic
HOLX
+$23.8M
2
BSX icon
Boston Scientific
BSX
+$22.9M
3
PACB icon
Pacific Biosciences
PACB
+$20.4M
4
INOV
Inovalon Holdings, Inc. Class A Common Stock
INOV
+$17.2M
5
ELV icon
Elevance Health
ELV
+$16.1M

Sector Composition

Rank Sector Weight
1 Healthcare 92.38%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EXAS
1
DELISTED
Exact Sciences
EXAS
$66.2M 8.59%
+500,000
New +$60.5M
IWM icon
2
PUT
iShares Russell 2000 ETF
IWM
$80.3B
$58.8M 7.62%
+300,000
New +$52.5M
ZBH icon
3
Zimmer Biomet
ZBH
$17.8B
$57M 7.39%
381,100
+154,500
+68% +$21.8M
HZNP
4
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$47.5M 6.16%
650,000
+300,000
+86% +$22.3M
UNH icon
5
UnitedHealth
UNH
$379B
$46.4M 6.02%
+132,442
New +$44.4M
HCA icon
6
HCA Healthcare
HCA
$86.4B
$46M 5.97%
+280,000
New +$40.9M
EHC icon
7
Encompass Health
EHC
$11.3B
$41.3M 5.36%
628,500
-248,457
-28% -$14.6M
CRL icon
8
Charles River Laboratories
CRL
$10.8B
$35M 4.53%
140,000
+10,000
+8% +$2.38M
HAE icon
9
Haemonetics
HAE
$3.63B
$32.7M 4.24%
+275,453
New +$29.7M
MOH icon
10
Molina Healthcare
MOH
$10.4B
$31.9M 4.14%
150,000
+50,000
+50% +$10.3M
NVST icon
11
Envista
NVST
$4.34B
$30.4M 3.94%
900,687
+600,687
+200% +$17.4M
NVRO
12
DELISTED
NEVRO CORP.
NVRO
$29.2M 3.79%
168,761
+8,761
+5% +$1.42M
DXCM icon
13
DexCom
DXCM
$28.3B
$27.7M 3.59%
+300,000
New +$26.8M
SGRY icon
14
Surgery Partners
SGRY
$1.98B
$26.7M 3.46%
919,338
+169,338
+23% +$4.21M
IQV icon
15
IQVIA
IQV
$35.6B
$25.6M 3.32%
143,020
+3,020
+2% +$509K
GH icon
16
Guardant Health
GH
$19.3B
$21.4M 2.77%
166,000
– –
PACB icon
17
Pacific Biosciences
PACB
$422M
$20.8M 2.69%
800,000
-1,200,000
-60% -$20.4M
HRTX icon
18
Heron Therapeutics
HRTX
$86.9M
$18.3M 2.37%
+865,072
New +$15M
VCEL icon
19
Vericel Corp
VCEL
$2.31B
$17.9M 2.32%
580,000
– –
CTLT
20
DELISTED
CATALENT, INC.
CTLT
$16.7M 2.16%
160,000
-120,000
-43% -$11.6M
CNMD icon
21
CONMED
CNMD
$1.31B
$16.6M 2.15%
+148,317
New +$14M
DVA icon
22
DaVita
DVA
$15.2B
$16.4M 2.13%
140,000
-80,000
-36% -$8.15M
NTRA icon
23
Natera
NTRA
$37B
$14.9M 1.94%
+150,000
New +$12.5M
ACH
24
Accendra Health
ACH
$247M
$12.3M 1.59%
+454,419
New +$11.7M
OM icon
25
Outset Medical
OM
$80.1M
$8.53M 1.11%
10,000
– –
1
2

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Iron Triangle Partners's Q4 2020 Portfolio in Review

As of Q4 2020, Iron Triangle Partners held 35 positions worth $771M, up 72% from $447M the previous quarter. Its ten largest holdings account for 60% of the portfolio.

Iron Triangle Partners deployed $208M of net new capital in Q4 2020, opening 10 new positions and adding to 8 existing holdings. Its largest new stake was Exact Sciences: 500,000 shares worth $66.2M.

By sector, the portfolio is most concentrated in Healthcare at 92% of assets, down from 96% a quarter earlier.

On the sell side, the largest reduction was Pacific Biosciences, an estimated $20.4M trimmed.

  • Iron Triangle Partners's largest Q4 2020 buy was Exact Sciences: 500,000 shares worth $66.2M.
  • Iron Triangle Partners added most to Horizon Therapeutics Public Limited Company Ordinary Shares in Q4 2020, an estimated $22.3M increase.
  • Iron Triangle Partners's biggest Q4 2020 reduction was Pacific Biosciences, cutting an estimated $20.4M.
  • Iron Triangle Partners fully exited Hologic in Q4 2020, selling an estimated $23.8M.
  • Iron Triangle Partners's ten largest holdings make up 60% of its $771M portfolio in Q4 2020.
  • Iron Triangle Partners opened 10 new positions and closed 9 in Q4 2020.
  • Iron Triangle Partners's portfolio value rose 72% quarter-over-quarter to $771M.

Based on Iron Triangle Partners's 13F filing for Q4 2020, filed 16 Feb 2021.