13F filing recap · Q2 2014

What did Triple Frond Partners buy in Q2 2014?

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

Stock value

$202.08M

Positions

Estimated turnover

36.6%

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

MCDMcdonald’s Corporation$30.22Mreported value+300.0K shares

Exited positions

RNRRenaissancere Holdings Ltd.$17.08Mprior reported value-175.0K shares-100.0%VRValidus Holdings, Ltd.$15.08Mprior reported value-400.0K shares-100.0%RYAAYRyanair Holdings Plc$13.87Mprior reported value-235.8K shares-100.0%