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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
+3.24%
1 Year Est. Return
+49.85%
3 Year Est. Return
+151.9%
5 Year Est. Return
+239.84%
10 Year Est. Return
–
AUM
$572M
AUM Growth
-$199M
(-26%)
Cap. Flow
-$206M
Cap. Flow
% of AUM
-35.93%
Top 10 Holdings %
Top 10 Hldgs %
54.05%
Holding
34
New
9
Increased
5
Reduced
12
Closed
7
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Charles River Laboratories
CRL
|
+$43.6M |
| 2 |
Sanofi
SNY
|
+$40.1M |
| 3 |
HCA Healthcare
HCA
|
+$27.9M |
| 4 |
CTLT
CATALENT, INC.
CTLT
|
+$24.8M |
| 5 |
NARI
Inari Medical, Inc. Common Stock
NARI
|
+$22.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AbbVie
ABBV
|
+$53.6M |
| 2 |
Repligen
RGEN
|
+$31.6M |
| 3 |
Humana
HUM
|
+$31.6M |
| 4 |
DexCom
DXCM
|
+$29.6M |
| 5 |
AstraZeneca
AZN
|
+$28.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 98.28% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Charles River Laboratories
CRL
$10.8B
| $39.8M | 6.95% |
+202,000
| New | +$43.6M |
|
2
Cigna
CI
$77B
| $39.7M | 6.94% |
143,010
+63,010
| +79% | +$17.7M |
|
3
Neurocrine Biosciences
NBIX
$17.7B
| $37.8M | 6.6% |
355,601
+5,601
| +2% | +$568K |
|
|
4
Sanofi
SNY
$105B
| $34.2M | 5.98% |
+900,000
| New | +$40.1M |
|
5
HealthEquity
HQY
$8.28B
| $29.6M | 5.17% |
440,000
-45,541
| -9% | -$2.88M |
|
6
Acadia Healthcare
ACHC
$2.99B
| $27.4M | 4.78% |
350,000
-200,000
| -36% | -$16M |
|
7
Boston Scientific
BSX
$67.6B
| $27.1M | 4.74% |
700,000
-300,000
| -30% | -$12M |
|
8
Guardant Health
GH
$19.3B
| $26.2M | 4.58% |
487,193
-503,375
| -51% | -$25.8M |
|
|
9
HCA Healthcare
HCA
$86.4B
| $25.7M | 4.5% |
+140,000
| New | +$27.9M |
|
|
NARI
10
DELISTED
Inari Medical, Inc. Common Stock
NARI
| $21.8M | 3.81% |
+300,000
| New | +$22.3M |
|
11
Bio-Rad Laboratories Class A
BIO
$8.47B
| $20.9M | 3.65% |
50,000
-7,955
| -14% | -$3.97M |
|
|
12
Repligen
RGEN
$7.39B
| $18.7M | 3.27% |
100,000
-150,000
| -60% | -$31.6M |
|
13
Insulet
PODD
$11.4B
| $18.4M | 3.21% |
+80,000
| New | +$20M |
|
|
CTLT
14
DELISTED
CATALENT, INC.
CTLT
| $18.1M | 3.16% |
+250,000
| New | +$24.8M |
|
15
Inspire Medical Systems
INSP
$1.47B
| $17.7M | 3.1% |
100,000
-13,938
| -12% | -$2.8M |
|
16
Establishment Labs
ESTA
$2.71B
| $17.6M | 3.08% |
322,278
-2,730
| -0.8% | -$163K |
|
17
Pacific Biosciences
PACB
$422M
| $17.4M | 3.04% |
+3,000,000
| New | +$17.2M |
|
|
18
Humana
HUM
$45.8B
| $17M | 2.97% |
35,000
-65,000
| -65% | -$31.6M |
|
19
Sarepta Therapeutics
SRPT
$1.68B
| $16.6M | 2.9% |
+150,000
| New | +$15.1M |
|
|
HZNP
20
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $16.4M | 2.87% |
265,076
+115,076
| +77% | +$8.04M |
|
21
Alnylam Pharmaceuticals
ALNY
$37.2B
| $16M | 2.8% |
+80,000
| New | +$15.3M |
|
22
Icon
ICLR
$13B
| $15.4M | 2.69% |
83,798
-76,202
| -48% | -$16.6M |
|
23
908 Devices
MASS
$293M
| $14.8M | 2.59% |
900,000
+50,000
| +6% | +$971K |
|
24
Surgery Partners
SGRY
$1.98B
| $12.9M | 2.25% |
550,000
+281,824
| +105% | +$9M |
|
|
25
DexCom
DXCM
$28.3B
| $12.1M | 2.11% |
150,000
-350,000
| -70% | -$29.6M |
|
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Iron Triangle Partners's Q3 2022 Portfolio in Review
As of Q3 2022, Iron Triangle Partners held 34 positions worth $572M, down 26% from $771M the previous quarter. Its ten largest holdings account for 54% of the portfolio.
Iron Triangle Partners withdrew a net $206M in Q3 2022, closing 7 positions and reducing 12 holdings. Its most notable exit was AbbVie, an estimated $53.6M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 98% of assets, up from 79% a quarter earlier.
Against the trend, Iron Triangle Partners opened a new position in Charles River Laboratories worth $39.8M.
- Iron Triangle Partners's largest Q3 2022 buy was Charles River Laboratories: 202,000 shares worth $39.8M.
- Iron Triangle Partners added most to Cigna in Q3 2022, an estimated $17.7M increase.
- Iron Triangle Partners's biggest Q3 2022 reduction was Repligen, cutting an estimated $31.6M.
- Iron Triangle Partners fully exited AbbVie in Q3 2022, selling an estimated $53.6M.
- Iron Triangle Partners's ten largest holdings make up 54% of its $572M portfolio in Q3 2022.
- Iron Triangle Partners opened 9 new positions and closed 7 in Q3 2022.
- Iron Triangle Partners's portfolio value fell 26% quarter-over-quarter to $572M.
Based on Iron Triangle Partners's 13F filing for Q3 2022, filed 14 Nov 2022.