13F filing recap · Q1 2016

What did Triple Frond Partners buy in Q1 2016?

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

Stock value

$614.06M

Positions

Estimated turnover

20.3%

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

VVisa Inc.$53.54Mreported value+700.0K shares

Increased positions

LBTYKLiberty Global Ltd.$95.78Mreported value+500.0K shares+24.4%MCOMoody’s Corporation$84.49Mreported value+150.0K shares+20.7%TDGTransdigm Group Incorporated$82.63Mreported value+40.8K shares+12.2%SBACSba Communications Corporation$60.10Mreported value+100.0K shares

Reduced positions

DVADaVita Inc.$62.37Mreported value-150.0K shares-15.0%