Triple Frond

Q2 2020 13F

As of: Jun 30, 2020
Filed: Aug 11, 2020
US stock: $1.0B · prev $897M
Positions: 9 · prev 10
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%

Moves4 since the prior filing

+2.8 pp in · −4.4 pp out

New 0 0.00 pp
Added 1 +2.83 pp
Trimmed 2 −2.87 pp
Exited 1 −1.54 pp

The book

Very concentrated · behaves like 7 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 8.6% a year, about 11.7 years per position

Low
Moderate
High

Top 5 positions76% of US stock

CHTR Charter Comm Inc Del CL A New held held24.6%
MCO Moody's Corporation trimmed−2.60 pp trimmed−2.6017.2%
GOOG Alphabet Inc. Class C held held12.3%
V VISA Inc. held held12.1%
TDG TransDigm Group Incorporated trimmed−0.27 pp trimmed−0.279.7%

Positions9 in this filing · 1 exited


CHTRCharter Comm Inc Del CL A New	24.59%	500,029	$255M	held	—	17 q
MCOMoody's Corporation	17.22%	650,228	$179M	trimmed−23%	−2.60 pp	21 q
GOOGAlphabet Inc. Class C	12.28%	90,120	$127M	held	—	2 q
VVISA Inc.	12.10%	650,000	$126M	held	—	18 q
TDGTransDigm Group Incorporated	9.72%	228,074	$101M	trimmed−19%	−0.27 pp	22 q
LBRDKLiberty Broadband Corporation Class C	9.16%	766,579	$95M	held	—	10 q
MAMastercard Incorporated	7.91%	277,500	$82M	held	—	15 q
GWREGuidewire Software, Inc.	6.12%	572,800	$63M	added+54%	+2.83 pp	2 q
SPGIS&P Global Inc.	0.89%	28,100	$9M	held	—	2 q
SCHWThe Charles Schwab Corporation	—	−412,300	—	exited	−1.54 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0001454502-20-000004
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet