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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
-5.67%
1 Year Est. Return
+49.85%
3 Year Est. Return
+151.9%
5 Year Est. Return
+239.84%
10 Year Est. Return
–
AUM
$841M
AUM Growth
+$123M
(+17%)
Cap. Flow
+$161M
Cap. Flow
% of AUM
19.1%
Top 10 Holdings %
Top 10 Hldgs %
53.06%
Holding
33
New
8
Increased
13
Reduced
7
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Icon
ICLR
|
+$39.5M |
| 2 |
Illumina
ILMN
|
+$38.2M |
| 3 |
DexCom
DXCM
|
+$30.6M |
| 4 |
HealthEquity
HQY
|
+$26.3M |
| 5 |
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
|
+$25.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
DaVita
DVA
|
+$51.2M |
| 2 |
Envista
NVST
|
+$35.1M |
| 3 |
Charles River Laboratories
CRL
|
+$26.4M |
| 4 |
AdaptHealth
AHCO
|
+$17.1M |
| 5 |
Thermo Fisher Scientific
TMO
|
+$16M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 98.83% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Icon
ICLR
$13B
| $65.1M | 7.74% |
267,551
+157,551
| +143% | +$39.5M |
|
|
HZNP
2
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $53M | 6.3% |
503,744
+266,274
| +112% | +$25.9M |
|
3
Guardant Health
GH
$19.3B
| $47.8M | 5.69% |
722,126
+281,871
| +64% | +$19.3M |
|
4
UnitedHealth
UNH
$379B
| $45.9M | 5.46% |
90,014
+30,014
| +50% | +$14.5M |
|
|
CTLT
5
DELISTED
CATALENT, INC.
CTLT
| $43.5M | 5.18% |
392,663
+76,002
| +24% | +$7.94M |
|
|
NVRO
6
DELISTED
NEVRO CORP.
NVRO
| $40.7M | 4.84% |
562,833
+140,573
| +33% | +$10.1M |
|
7
AbbVie
ABBV
$454B
| $38.9M | 4.63% |
240,000
-10,000
| -4% | -$1.45M |
|
|
8
Illumina
ILMN
$28.7B
| $38.4M | 4.57% |
+113,080
| New | +$38.2M |
|
|
HOLX
9
DELISTED
Hologic
HOLX
| $36.9M | 4.39% |
480,000
+200,000
| +71% | +$14.4M |
|
|
10
DexCom
DXCM
$28.3B
| $35.8M | 4.26% |
+280,000
| New | +$30.6M |
|
11
United Therapeutics
UTHR
$26.3B
| $34.1M | 4.06% |
190,073
+20,073
| +12% | +$3.82M |
|
12
Molina Healthcare
MOH
$10.4B
| $33.4M | 3.97% |
100,000
+2,107
| +2% | +$649K |
|
13
Acadia Healthcare
ACHC
$2.99B
| $32.9M | 3.92% |
502,640
-129,549
| -20% | -$7.53M |
|
|
14
HealthEquity
HQY
$8.28B
| $32.8M | 3.91% |
+486,862
| New | +$26.3M |
|
15
ICU Medical
ICUI
$4.04B
| $30.3M | 3.61% |
136,313
+21,807
| +19% | +$4.89M |
|
16
AstraZeneca
AZN
$263B
| $25.2M | 3% |
+190,000
| New | +$22.8M |
|
|
NSTG
17
DELISTED
NanoString Technologies, Inc.
NSTG
| $25.1M | 2.99% |
722,395
-27,605
| -4% | -$951K |
|
18
CONMED
CNMD
$1.31B
| $23.8M | 2.84% |
160,530
+10,753
| +7% | +$1.5M |
|
19
Surgery Partners
SGRY
$1.98B
| $22M | 2.62% |
400,000
-143,696
| -26% | -$7.11M |
|
20
Align Technology
ALGN
$12B
| $21.8M | 2.59% |
50,000
+10,000
| +25% | +$4.87M |
|
21
GoodRx Holdings
GDRX
$1.03B
| $21.1M | 2.51% |
+1,089,677
| New | +$25M |
|
|
SGEN
22
DELISTED
Seagen Inc. Common Stock
SGEN
| $18.7M | 2.23% |
+130,000
| New | +$17.6M |
|
23
Karyopharm Therapeutics
KPTI
$161M
| $14.7M | 1.75% |
+133,333
| New | +$16.6M |
|
|
24
Envista
NVST
$4.34B
| $14.6M | 1.74% |
300,000
-760,000
| -72% | -$35.1M |
|
|
SLGC
25
DELISTED
SomaLogic, Inc. Class A Common Stock
SLGC
| $14.2M | 1.69% |
1,770,000
+332,754
| +23% | +$2.93M |
|
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Iron Triangle Partners's Q1 2022 Portfolio in Review
As of Q1 2022, Iron Triangle Partners held 33 positions worth $841M, up 17% from $718M the previous quarter. Its ten largest holdings account for 53% of the portfolio.
Iron Triangle Partners deployed $161M of net new capital in Q1 2022, opening 8 new positions and adding to 13 existing holdings. Its largest new stake was Illumina: 113,080 shares worth $38.4M.
By sector, the portfolio is most concentrated in Healthcare at 99% of assets, up from 99% a quarter earlier.
On the sell side, the largest reduction was Envista, an estimated $35.1M trimmed.
- Iron Triangle Partners's largest Q1 2022 buy was Illumina: 113,080 shares worth $38.4M.
- Iron Triangle Partners added most to Icon in Q1 2022, an estimated $39.5M increase.
- Iron Triangle Partners's biggest Q1 2022 reduction was Envista, cutting an estimated $35.1M.
- Iron Triangle Partners fully exited DaVita in Q1 2022, selling an estimated $51.2M.
- Iron Triangle Partners's ten largest holdings make up 53% of its $841M portfolio in Q1 2022.
- Iron Triangle Partners opened 8 new positions and closed 5 in Q1 2022.
- Iron Triangle Partners's portfolio value rose 17% quarter-over-quarter to $841M.
Based on Iron Triangle Partners's 13F filing for Q1 2022, filed 16 May 2022.