13F filing recap · Q4 2014

What did Triple Frond Partners buy in Q4 2014?

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

Stock value

$281.22M

Positions

Estimated turnover

53.9%

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

LBTYKLiberty Global Ltd.$48.31Mreported value+1.00M shares CHTRCharter Communications, Inc.$38.32Mreported value+230.0K shares

Increased positions

SCHWSchwab Charles Corp$75.47Mreported value+250.0K shares+11.1%

Reduced positions

CCLCarnival Corporation Ltd.$34.00Mreported value-250.0K shares-25.0%

Exited positions

MCDMcdonald’s Corporation$28.44Mprior reported value-300.0K shares-100.0%