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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
-12.41%
1 Year Est. Return
+49.85%
3 Year Est. Return
+151.9%
5 Year Est. Return
+239.84%
10 Year Est. Return
–
AUM
$684M
AUM Growth
-$63.8M
(-8.5%)
Cap. Flow
+$21.9M
Cap. Flow
% of AUM
3.2%
Top 10 Holdings %
Top 10 Hldgs %
63.17%
Holding
29
New
6
Increased
11
Reduced
6
Closed
6
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
DexCom
DXCM
|
+$46.9M |
| 2 |
Elanco Animal Health
ELAN
|
+$39.6M |
| 3 |
APLS
Apellis Pharmaceuticals
APLS
|
+$38.7M |
| 4 |
Legend Biotech
LEGN
|
+$31.4M |
| 5 |
McKesson
MCK
|
+$29.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Icon
ICLR
|
+$55.4M |
| 2 |
AbbVie
ABBV
|
+$29.4M |
| 3 |
Cooper Companies
COO
|
+$28.8M |
| 4 |
Surgery Partners
SGRY
|
+$26.1M |
| 5 |
Boston Scientific
BSX
|
+$23.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 100% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Universal Health Services
UHS
$9.64B
| $63.1M | 9.22% |
501,800
+31,800
| +7% | +$4.34M |
|
2
Acadia Healthcare
ACHC
$2.99B
| $53.8M | 7.86% |
765,204
+261,757
| +52% | +$19.6M |
|
|
3
DexCom
DXCM
$28.3B
| $52.8M | 7.71% |
565,753
+415,753
| +277% | +$46.9M |
|
4
United Therapeutics
UTHR
$26.3B
| $47.6M | 6.95% |
210,635
+10,635
| +5% | +$2.45M |
|
5
Intuitive Surgical
ISRG
$128B
| $41.5M | 6.07% |
142,000
+22,000
| +18% | +$6.87M |
|
|
6
Elanco Animal Health
ELAN
$12.7B
| $38.4M | 5.61% |
+3,412,350
| New | +$39.6M |
|
|
7
AbbVie
ABBV
$454B
| $37.3M | 5.45% |
250,000
-200,000
| -44% | -$29.4M |
|
|
APLS
8
DELISTED
Apellis Pharmaceuticals
APLS
| $33.5M | 4.89% |
+880,000
| New | +$38.7M |
|
9
Glaukos
GKOS
$8.92B
| $32.4M | 4.73% |
430,000
+120,000
| +39% | +$8.96M |
|
|
10
Icon
ICLR
$13B
| $32M | 4.68% |
130,000
-220,000
| -63% | -$55.4M |
|
|
11
McKesson
MCK
$99.5B
| $30.4M | 4.45% |
+70,000
| New | +$29.5M |
|
|
12
Legend Biotech
LEGN
$3.73B
| $30.4M | 4.44% |
+452,629
| New | +$31.4M |
|
13
Establishment Labs
ESTA
$2.71B
| $28M | 4.09% |
570,126
+32,220
| +6% | +$1.93M |
|
14
10x Genomics
TXG
$5.83B
| $27.5M | 4.02% |
666,945
+286,945
| +76% | +$14.9M |
|
15
Bruker
BRKR
$9.14B
| $26.8M | 3.92% |
+430,843
| New | +$29M |
|
|
16
Boston Scientific
BSX
$67.6B
| $21.1M | 3.09% |
400,000
-450,000
| -53% | -$23.6M |
|
17
Brookdale Senior Living
BKD
$3.69B
| $17.5M | 2.56% |
4,236,128
+52,775
| +1% | +$212K |
|
|
ITCI
18
DELISTED
Intra-Cellular Therapies Inc.
ITCI
| $17.2M | 2.52% |
+330,549
| New | +$19.3M |
|
|
EXAS
19
DELISTED
Exact Sciences
EXAS
| $17.1M | 2.49% |
250,000
-250,000
| -50% | -$21.2M |
|
20
Pacific Biosciences
PACB
$422M
| $15M | 2.2% |
1,800,000
-600,000
| -25% | -$6.86M |
|
|
OLK
21
DELISTED
Olink Holding AB (publ) American Depositary Shares
OLK
| $10.9M | 1.59% |
738,062
+423,267
| +134% | +$7.09M |
|
22
908 Devices
MASS
$293M
| $6.53M | 0.95% |
980,463
+80,463
| +9% | +$557K |
|
|
SWTX
23
DELISTED
SpringWorks Therapeutics
SWTX
| $3.47M | 0.51% |
150,211
-314,724
| -68% | -$8.61M |
|
24
Align Technology
ALGN
$12B
| – | – |
-65,000
| Closed | -$23M |
|
|
25
Cooper Companies
COO
$13.7B
| – | – |
-300,000
| Closed | -$28.8M |
|
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Iron Triangle Partners's Q3 2023 Portfolio in Review
As of Q3 2023, Iron Triangle Partners held 29 positions worth $684M, down 8.5% from $748M the previous quarter. Its ten largest holdings account for 63% of the portfolio.
Iron Triangle Partners deployed $21.9M of net new capital in Q3 2023, opening 6 new positions and adding to 11 existing holdings. Its largest new stake was Elanco Animal Health: 3,412,350 shares worth $38.4M.
By sector, the portfolio is most concentrated in Healthcare at 100% of assets, up from 98% a quarter earlier.
On the sell side, the largest reduction was Icon, an estimated $55.4M trimmed.
- Iron Triangle Partners's largest Q3 2023 buy was Elanco Animal Health: 3,412,350 shares worth $38.4M.
- Iron Triangle Partners added most to DexCom in Q3 2023, an estimated $46.9M increase.
- Iron Triangle Partners's biggest Q3 2023 reduction was Icon, cutting an estimated $55.4M.
- Iron Triangle Partners fully exited Cooper Companies in Q3 2023, selling an estimated $28.8M.
- Iron Triangle Partners's ten largest holdings make up 63% of its $684M portfolio in Q3 2023.
- Iron Triangle Partners opened 6 new positions and closed 6 in Q3 2023.
- Iron Triangle Partners's portfolio value fell 8.5% quarter-over-quarter to $684M.
Based on Iron Triangle Partners's 13F filing for Q3 2023, filed 14 Nov 2023.