13F filing recap · Q1 2009

What did Triple Frond Partners buy in Q1 2009?

Reported stock-position changes between this filing and the previous one.

Stock value

$156.68M

Positions

Estimated turnover

30.1%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

New positions

FDXFedex Corporation$15.37Mreported value+345.5K shares MDTMedtronic Plc$8.96Mreported value+303.9K shares

Increased positions

ZNTZenith National Insurance Corp$14.89Mreported value+210.0K shares+51.5%

Reduced positions

MINIMobile Mini Inc$8.08Mreported value-174.7K shares-19.9%WLPWellpoint Inc$7.56Mreported value-94.2K shares-32.1%

Exited positions

UNHUnitedHealth Group Incorporated$13.29Mprior reported value-499.7K shares-100.0%