13F filing recap · Q4 2015

What did Triple Frond Partners buy in Q4 2015?

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

Stock value

$536.11M

Positions

Estimated turnover

28.1%

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

SBACSba Communications Corporation$52.53Mreported value+500.0K shares

Increased positions

LBTYKLiberty Global Ltd.$83.58Mreported value+250.0K shares+13.9%TDGTransdigm Group Incorporated$76.36Mreported value+9.2K shares+2.8%MCOMoody’s Corporation$72.75Mreported value+100.0K shares+16.0%DVADaVita Inc.$69.71Mreported value+250.0K shares

Exited positions

PGRProgressive Corp/oh/$49.33Mprior reported value-1.61M shares-100.0%