13F filing recap · Q2 2011

What did Triple Frond Partners buy in Q2 2011?

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

Stock value

$297.20M

Positions

Estimated turnover

21.2%

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

GRFSGrifols SA$17.55Mreported value+2.34M shares HPQHP Inc.$10.30Mreported value+283.0K shares

Increased positions

RNRRenaissancere Holdings Ltd.$20.50Mreported value+143.0K shares+95.3%

Exited positions

TLCRTalecris Biotherapeutics Holdings Corp$21.44Mprior reported value-800.0K shares-100.0%AKO/BEmbotelladora Andina S A$1.07Mprior reported value-36.6K shares-100.0%