13F filing recap · Q4 2016

What did Triple Frond Partners buy in Q4 2016?

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

Stock value

$674.30M

Positions

Estimated turnover

32.8%

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

MAMastercard Inc$19.20Mreported value+186.0K shares

Increased positions

LBTYKLiberty Global Ltd.$136.37Mreported value+817.5K shares+21.7%MCOMoody’s Corporation$97.48Mreported value+105.1K shares+11.3%SBACSba Communications Corporation$85.16Mreported value+224.7K shares+37.4%TDGTransdigm Group Incorporated$81.94Mreported value+46.1K shares

Reduced positions

CHTRCharter Communications, Inc.$93.45Mreported value-82.3K shares-20.2%SCHWSchwab Charles Corp$89.00Mreported value-950.0K shares-29.6%VVisa Inc.$39.01Mreported value-192.4K shares-27.8%

Exited positions

DVADaVita Inc.$44.55Mprior reported value-674.3K shares-100.0%