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Triple Frond

Q3 2014 13F

As of
Sep 30, 2014
Filed
Oct 17, 2014
US stock
$216M · prev $202M
Positions
5 · prev 5
Options notional
$0
Documents
1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

  • US stock listed on a US exchange 100.0%
  • Foreign stock not listed in the US 0.0%
  • Notes debt, at principal 0.0%
  • Puts at notional value 0.0%
  • Calls at notional value 0.0%

Moves2 since the prior filing

The book

Very concentrated · behaves like 5 equal-sized positions

  1. Very concentrated
  2. Concentrated
  3. Focused
  4. Diversified

Moderate turnover · 61% a year, about 1.6 years per position

  1. Low
  2. Moderate
  3. High

Top 5 positions100% of US stock

  1. SCHW The Charles Schwab Corporation held held30.7%
  2. PGR Progressive Corporation held held18.9%
  3. DVA DaVita Inc. new+18.65 pp new+18.6518.6%
  4. CCL Carnival Corporation Ltd. held held18.6%
  5. MCD McDonald's Corporation held held13.2%

Positions5 in this filing · 1 exited

SCHWThe Charles Schwab Corporation30.66%2,250,000$66Mheld—6 q
PGRProgressive Corporation18.87%1,610,000$41Mheld—6 q
DVADaVita Inc.18.65%550,000$40Mnew+18.65 ppnew
CCLCarnival Corporation Ltd.18.63%1,000,000$40Mheld—6 q
MCDMcDonald's Corporation13.19%300,000$28Mheld—2 q
unresolvedHCC Insurance Holdings, Inc.—−670,000—exited−16.23 pp—

Source

Form
13F-HR
Reading
0 defects · 0 unresolved
Accession
0000950123-14-010335
Options
none in this filing
Notes
none in this filing
SEC cross-check
SEC data set not published yet