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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
+2.07%
1 Year Est. Return
+49.85%
3 Year Est. Return
+151.9%
5 Year Est. Return
+239.84%
10 Year Est. Return
–
AUM
$697M
AUM Growth
-$274M
(-28%)
Cap. Flow
-$284M
Cap. Flow
% of AUM
-40.76%
Top 10 Holdings %
Top 10 Hldgs %
63.57%
Holding
35
New
9
Increased
6
Reduced
11
Closed
9
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
HOLX
Hologic
HOLX
|
+$45M |
| 2 |
Envista
NVST
|
+$24M |
| 3 |
HCA Healthcare
HCA
|
+$23.8M |
| 4 |
Boston Scientific
BSX
|
+$22.1M |
| 5 |
Acadia Healthcare
ACHC
|
+$20.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Waters Corp
WAT
|
+$58.8M |
| 2 |
Charles River Laboratories
CRL
|
+$45.9M |
| 3 |
Encompass Health
EHC
|
+$44M |
| 4 |
CTLT
CATALENT, INC.
CTLT
|
+$43.5M |
| 5 |
Intuitive Surgical
ISRG
|
+$40.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 98.57% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
HZNP
1
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $62.9M | 9.03% |
574,467
-44,106
| -7% | -$4.58M |
|
|
2
Envista
NVST
$4.34B
| $61.4M | 8.81% |
1,468,787
+568,787
| +63% | +$24M |
|
3
Humana
HUM
$45.8B
| $61.3M | 8.8% |
157,643
-23,869
| -13% | -$10.1M |
|
|
NVRO
4
DELISTED
NEVRO CORP.
NVRO
| $47M | 6.74% |
403,424
+120,804
| +43% | +$15.8M |
|
|
HOLX
5
DELISTED
Hologic
HOLX
| $44.3M | 6.36% |
+600,000
| New | +$45M |
|
6
AbbVie
ABBV
$454B
| $42.4M | 6.08% |
393,024
-139,499
| -26% | -$15.9M |
|
|
CTLT
7
DELISTED
CATALENT, INC.
CTLT
| $34.6M | 4.97% |
260,000
-348,429
| -57% | -$43.5M |
|
8
Icon
ICLR
$13B
| $34.1M | 4.89% |
130,000
+45,000
| +53% | +$10.9M |
|
9
Molina Healthcare
MOH
$10.4B
| $30.1M | 4.32% |
110,861
-126,352
| -53% | -$33.4M |
|
10
CONMED
CNMD
$1.31B
| $24.9M | 3.57% |
190,000
-27,204
| -13% | -$3.56M |
|
11
Guardant Health
GH
$19.3B
| $23.8M | 3.41% |
190,000
-160,000
| -46% | -$19M |
|
|
12
HCA Healthcare
HCA
$86.4B
| $23.6M | 3.38% |
+97,165
| New | +$23.8M |
|
13
Align Technology
ALGN
$12B
| $23.3M | 3.34% |
35,000
-30,000
| -46% | -$20.4M |
|
|
14
Boston Scientific
BSX
$67.6B
| $21.7M | 3.11% |
+500,000
| New | +$22.1M |
|
15
Tenet Healthcare
THC
$21B
| $21.1M | 3.03% |
317,797
-166,208
| -34% | -$11.8M |
|
|
16
Acadia Healthcare
ACHC
$2.99B
| $20.5M | 2.94% |
+321,000
| New | +$20.3M |
|
17
Thermo Fisher Scientific
TMO
$208B
| $20M | 2.87% |
+35,000
| New | +$19.2M |
|
18
AstraZeneca
AZN
$263B
| $18M | 2.59% |
+150,000
| New | +$17.5M |
|
|
19
Charles River Laboratories
CRL
$10.8B
| $15.4M | 2.22% |
37,404
-110,524
| -75% | -$45.9M |
|
|
20
Intuitive Surgical
ISRG
$128B
| $14.9M | 2.14% |
45,000
-119,997
| -73% | -$40.3M |
|
21
United Therapeutics
UTHR
$26.3B
| $12.9M | 1.85% |
+70,000
| New | +$13.8M |
|
22
Stereotaxis
STXS
$130M
| $10.7M | 1.54% |
1,993,034
+1,800,106
| +933% | +$13.6M |
|
|
OHPAU
23
DELISTED
Orion Acquisition Corp. Unit
OHPAU
| $9.96M | 1.43% |
1,006,229
+144
| +0% | +$1.43K |
|
|
RVNC
24
DELISTED
Revance Therapeutics, Inc.
RVNC
| $9.19M | 1.32% |
+330,000
| New | +$9.42M |
|
|
OLK
25
DELISTED
Olink Holding AB (publ) American Depositary Shares
OLK
| $4.85M | 0.7% |
200,000
+175,000
| +700% | +$5.5M |
|
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Iron Triangle Partners's Q3 2021 Portfolio in Review
As of Q3 2021, Iron Triangle Partners held 35 positions worth $697M, down 28% from $971M the previous quarter. Its ten largest holdings account for 64% of the portfolio.
Iron Triangle Partners withdrew a net $284M in Q3 2021, closing 9 positions and reducing 11 holdings. Its most notable exit was Waters Corp, an estimated $58.8M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 99% of assets, down from 99% a quarter earlier.
Against the trend, Iron Triangle Partners opened a new position in Hologic worth $44.3M.
- Iron Triangle Partners's largest Q3 2021 buy was Hologic: 600,000 shares worth $44.3M.
- Iron Triangle Partners added most to Envista in Q3 2021, an estimated $24M increase.
- Iron Triangle Partners's biggest Q3 2021 reduction was Charles River Laboratories, cutting an estimated $45.9M.
- Iron Triangle Partners fully exited Waters Corp in Q3 2021, selling an estimated $58.8M.
- Iron Triangle Partners's ten largest holdings make up 64% of its $697M portfolio in Q3 2021.
- Iron Triangle Partners opened 9 new positions and closed 9 in Q3 2021.
- Iron Triangle Partners's portfolio value fell 28% quarter-over-quarter to $697M.
Based on Iron Triangle Partners's 13F filing for Q3 2021, filed 15 Nov 2021.