13F filing recap · Q3 2016

What did Triple Frond Partners buy in Q3 2016?

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

Stock value

$701.90M

Positions

Estimated turnover

8.5%

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.

Increased positions

LBTYKLiberty Global Ltd.$124.70Mreported value+482.0K shares+14.6%SCHWSchwab Charles Corp$101.18Mreported value+205.0K shares+6.8%MCOMoody’s Corporation$100.59Mreported value+54.0K shares+6.2%NORDNordicus Partners Corporation$14.65Mreported value+190.6K shares+39.5%

Reduced positions

TDGTransdigm Group Incorporated$81.82Mreported value-34.5K shares-10.9%VVisa Inc.$57.26Mreported value-7.6K shares-1.1%DVADaVita Inc.$44.55Mreported value-41.3K shares-5.8%

Exited positions

LILAKLiberty Global Ltd.$10.34Mprior reported value-318.2K shares-100.0%