13F filing recap · Q4 2024

What did Triple Frond Partners buy in Q4 2024?

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

Stock value

$772.47M

Positions

Estimated turnover

19.5%

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.

Quarter in review

Triple Frond Partners opened a new position in Lam Research and exited Union Pacific entirely. The firm added to Microsoft and Canadian Pacific Kansas City, while trimming Alphabet, Amazon, Visa, Transdigm, and Moody’s. Charter Communications was substantially reduced.

New positions

LRCXLam Research Corporation$36.97Mreported value+511.8K shares

Increased positions

MSFTMicrosoft Corporation$117.37Mreported value+26.3K shares+10.4%CPCanadian Pacific Kansas City Ltd/cn$29.26Mreported value+89.6K shares+28.5%

Reduced positions

GOOGAlphabet Inc.$153.75Mreported value-29.5K shares-3.5%AMZNAmazon.com Inc$116.28Mreported value-66.8K shares-11.2%VVisa Inc.$113.27Mreported value-44.6K shares-11.1%TDGTransdigm Group Incorporated$101.07Mreported value-2.9K shares

Exited positions

UNPUnion Pacific Corp$18.36Mprior reported value-74.5K shares-100.0%