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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
-10.05%
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
-$69.6M
(-8.3%)
Cap. Flow
+$29.3M
Cap. Flow
% of AUM
3.8%
Top 10 Holdings %
Top 10 Hldgs %
66.45%
Holding
38
New
10
Increased
7
Reduced
7
Closed
13
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Humana
HUM
|
+$44.5M |
| 2 |
Boston Scientific
BSX
|
+$40.7M |
| 3 |
Repligen
RGEN
|
+$39.5M |
| 4 |
Neurocrine Biosciences
NBIX
|
+$32.3M |
| 5 |
Bio-Rad Laboratories Class A
BIO
|
+$30.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
UnitedHealth
UNH
|
+$45.9M |
| 2 |
CTLT
CATALENT, INC.
CTLT
|
+$43.5M |
| 3 |
NVRO
NEVRO CORP.
NVRO
|
+$40.7M |
| 4 |
Illumina
ILMN
|
+$38.4M |
| 5 |
HOLX
Hologic
HOLX
|
+$36.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 79.16% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$781B
| $151M | 19.57% |
+400,000
| New | +$164M |
|
2
AbbVie
ABBV
$454B
| $53.6M | 6.95% |
350,000
+110,000
| +46% | +$16.8M |
|
|
3
Humana
HUM
$45.8B
| $46.8M | 6.07% |
+100,000
| New | +$44.5M |
|
|
4
Repligen
RGEN
$7.39B
| $40.6M | 5.26% |
+250,000
| New | +$39.5M |
|
5
Guardant Health
GH
$19.3B
| $40M | 5.18% |
990,568
+268,442
| +37% | +$13.3M |
|
|
6
Boston Scientific
BSX
$67.6B
| $37.3M | 4.83% |
+1,000,000
| New | +$40.7M |
|
7
DexCom
DXCM
$28.3B
| $37.3M | 4.83% |
500,000
+220,000
| +79% | +$20.1M |
|
8
Acadia Healthcare
ACHC
$2.99B
| $37.2M | 4.82% |
550,000
+47,360
| +9% | +$3.3M |
|
9
Icon
ICLR
$13B
| $34.7M | 4.5% |
160,000
-107,551
| -40% | -$24.1M |
|
|
10
Neurocrine Biosciences
NBIX
$17.7B
| $34.1M | 4.42% |
+350,000
| New | +$32.3M |
|
11
HealthEquity
HQY
$8.28B
| $29.8M | 3.87% |
485,541
-1,321
| -0.3% | -$84.6K |
|
12
AstraZeneca
AZN
$263B
| $28.9M | 3.75% |
218,739
+28,739
| +15% | +$3.77M |
|
|
13
Bio-Rad Laboratories Class A
BIO
$8.47B
| $28.7M | 3.72% |
+57,955
| New | +$30.2M |
|
14
Legend Biotech
LEGN
$3.73B
| $27.2M | 3.53% |
+495,329
| New | +$20.9M |
|
15
CONMED
CNMD
$1.31B
| $24.9M | 3.23% |
260,000
+99,470
| +62% | +$11.9M |
|
16
Cigna
CI
$77B
| $21.1M | 2.73% |
+80,000
| New | +$20.6M |
|
17
Inspire Medical Systems
INSP
$1.47B
| $20.8M | 2.7% |
+113,938
| New | +$22.7M |
|
18
Establishment Labs
ESTA
$2.71B
| $17.7M | 2.29% |
+325,008
| New | +$20.6M |
|
19
908 Devices
MASS
$293M
| $17.5M | 2.27% |
850,000
+136,895
| +19% | +$2.3M |
|
|
HZNP
20
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $12M | 1.55% |
150,000
-353,744
| -70% | -$33.5M |
|
|
OHPAU
21
DELISTED
Orion Acquisition Corp. Unit
OHPAU
| $9.8M | 1.27% |
999,513
| – | – |
|
22
Surgery Partners
SGRY
$1.98B
| $7.76M | 1.01% |
268,176
-131,824
| -33% | -$5.76M |
|
23
Karyopharm Therapeutics
KPTI
$161M
| $4.96M | 0.64% |
73,333
-60,000
| -45% | -$5.5M |
|
|
SLGC
24
DELISTED
SomaLogic, Inc. Class A Common Stock
SLGC
| $4.52M | 0.59% |
1,000,000
-770,000
| -44% | -$4.58M |
|
25
Stereotaxis
STXS
$130M
| $3.14M | 0.41% |
1,706,688
-5,224
| -0.3% | -$12.5K |
|
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Iron Triangle Partners's Q2 2022 Portfolio in Review
As of Q2 2022, Iron Triangle Partners held 38 positions worth $771M, down 8.3% from $841M the previous quarter. Its ten largest holdings account for 66% of the portfolio.
Iron Triangle Partners deployed $29.3M of net new capital in Q2 2022, opening 10 new positions and adding to 7 existing holdings. Its largest new stake was Humana: 100,000 shares worth $46.8M.
By sector, the portfolio is most concentrated in Healthcare at 79% of assets, down from 99% a quarter earlier.
On the sell side, the largest reduction was Horizon Therapeutics Public Limited Company Ordinary Shares, an estimated $33.5M trimmed.
- Iron Triangle Partners's largest Q2 2022 buy was Humana: 100,000 shares worth $46.8M.
- Iron Triangle Partners added most to DexCom in Q2 2022, an estimated $20.1M increase.
- Iron Triangle Partners's biggest Q2 2022 reduction was Horizon Therapeutics Public Limited Company Ordinary Shares, cutting an estimated $33.5M.
- Iron Triangle Partners fully exited UnitedHealth in Q2 2022, selling an estimated $45.9M.
- Iron Triangle Partners's ten largest holdings make up 66% of its $771M portfolio in Q2 2022.
- Iron Triangle Partners opened 10 new positions and closed 13 in Q2 2022.
- Iron Triangle Partners's portfolio value fell 8.3% quarter-over-quarter to $771M.
Based on Iron Triangle Partners's 13F filing for Q2 2022, filed 15 Aug 2022.