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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
+22.34%
1 Year Est. Return
+49.85%
3 Year Est. Return
+151.9%
5 Year Est. Return
+239.84%
10 Year Est. Return
–
AUM
$558M
AUM Growth
-$14.3M
(-2.5%)
Cap. Flow
-$80.4M
Cap. Flow
% of AUM
-14.41%
Top 10 Holdings %
Top 10 Hldgs %
63.48%
Holding
36
New
9
Increased
4
Reduced
13
Closed
10
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cooper Companies
COO
|
+$36.3M |
| 2 |
Universal Health Services
UHS
|
+$35.4M |
| 3 |
Gilead Sciences
GILD
|
+$29.6M |
| 4 |
Icon
ICLR
|
+$28M |
| 5 |
Surgery Partners
SGRY
|
+$19.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Neurocrine Biosciences
NBIX
|
+$29.9M |
| 2 |
HealthEquity
HQY
|
+$29.6M |
| 3 |
Cigna
CI
|
+$26.3M |
| 4 |
Guardant Health
GH
|
+$26.2M |
| 5 |
HCA Healthcare
HCA
|
+$25.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 100% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Icon
ICLR
$13B
| $43.7M | 7.84% |
225,000
+141,202
| +169% | +$28M |
|
2
Charles River Laboratories
CRL
$10.8B
| $43.6M | 7.81% |
200,000
-2,000
| -1% | -$437K |
|
|
3
Universal Health Services
UHS
$9.64B
| $42.3M | 7.58% |
+300,000
| New | +$35.4M |
|
|
4
Cooper Companies
COO
$13.7B
| $40.7M | 7.29% |
+492,000
| New | +$36.3M |
|
|
5
Surgery Partners
SGRY
$1.98B
| $35.7M | 6.39% |
1,280,000
+730,000
| +133% | +$19.3M |
|
|
6
Gilead Sciences
GILD
$162B
| $32.1M | 5.75% |
+373,569
| New | +$29.6M |
|
7
Sanofi
SNY
$105B
| $31.5M | 5.64% |
650,000
-250,000
| -28% | -$11M |
|
8
Repligen
RGEN
$7.39B
| $30.1M | 5.4% |
178,000
+78,000
| +78% | +$14.1M |
|
9
Boston Scientific
BSX
$67.6B
| $27.8M | 4.98% |
600,000
-100,000
| -14% | -$4.33M |
|
10
Establishment Labs
ESTA
$2.71B
| $26.7M | 4.79% |
407,074
+84,796
| +26% | +$5.12M |
|
11
Inspire Medical Systems
INSP
$1.47B
| $20.2M | 3.61% |
80,000
-20,000
| -20% | -$4.26M |
|
12
United Therapeutics
UTHR
$26.3B
| $19.9M | 3.57% |
+71,576
| New | +$18.1M |
|
|
13
Cigna
CI
$77B
| $19.9M | 3.56% |
60,000
-83,010
| -58% | -$26.3M |
|
14
Intuitive Surgical
ISRG
$128B
| $18.6M | 3.33% |
+70,000
| New | +$17.1M |
|
15
Acadia Healthcare
ACHC
$2.99B
| $16.5M | 2.95% |
200,000
-150,000
| -43% | -$12.4M |
|
16
Sarepta Therapeutics
SRPT
$1.68B
| $14M | 2.5% |
107,749
-42,251
| -28% | -$4.9M |
|
17
Pacific Biosciences
PACB
$422M
| $13.9M | 2.49% |
1,700,000
-1,300,000
| -43% | -$11.2M |
|
18
DexCom
DXCM
$28.3B
| $13.6M | 2.44% |
120,080
-29,920
| -20% | -$3.28M |
|
|
NARI
19
DELISTED
Inari Medical, Inc. Common Stock
NARI
| $12.1M | 2.17% |
190,000
-110,000
| -37% | -$7.98M |
|
|
20
Neurocrine Biosciences
NBIX
$17.7B
| $12M | 2.14% |
100,089
-255,512
| -72% | -$29.9M |
|
21
Syndax Pharmaceuticals
SNDX
$1.82B
| $9.42M | 1.69% |
+370,294
| New | +$8.64M |
|
22
Amylyx Pharmaceuticals
AMLX
$2.17B
| $8.88M | 1.59% |
+240,240
| New | +$8.53M |
|
|
RXDX
23
DELISTED
Prometheus Biosciences, Inc. Common Stock
RXDX
| $8.25M | 1.48% |
+75,000
| New | +$4.86M |
|
24
908 Devices
MASS
$293M
| $6.67M | 1.2% |
874,731
-25,269
| -3% | -$306K |
|
25
Karyopharm Therapeutics
KPTI
$161M
| $6.55M | 1.17% |
+128,452
| New | +$8.9M |
|
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Iron Triangle Partners's Q4 2022 Portfolio in Review
As of Q4 2022, Iron Triangle Partners held 36 positions worth $558M, down 2.5% from $572M the previous quarter. Its ten largest holdings account for 63% of the portfolio.
Iron Triangle Partners withdrew a net $80.4M in Q4 2022, closing 10 positions and reducing 13 holdings. Its most notable exit was HealthEquity, an estimated $29.6M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 100% of assets, up from 98% a quarter earlier.
Against the trend, Iron Triangle Partners opened a new position in Cooper Companies worth $40.7M.
- Iron Triangle Partners's largest Q4 2022 buy was Cooper Companies: 492,000 shares worth $40.7M.
- Iron Triangle Partners added most to Icon in Q4 2022, an estimated $28M increase.
- Iron Triangle Partners's biggest Q4 2022 reduction was Neurocrine Biosciences, cutting an estimated $29.9M.
- Iron Triangle Partners fully exited HealthEquity in Q4 2022, selling an estimated $29.6M.
- Iron Triangle Partners's ten largest holdings make up 63% of its $558M portfolio in Q4 2022.
- Iron Triangle Partners opened 9 new positions and closed 10 in Q4 2022.
- Iron Triangle Partners's portfolio value fell 2.5% quarter-over-quarter to $558M.
Based on Iron Triangle Partners's 13F filing for Q4 2022, filed 14 Feb 2023.