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Triple Frond

Q3 2024 13F · by Stuart McLaughlin, portfolio manager

As of
Sep 30, 2024
Filed
Nov 12, 2024
US stock
$773M · prev $852M
Positions
9 · prev 11
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%

Moves9 since the prior filing

The book

Very concentrated · behaves like 7 equal-sized positions

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

Moderate turnover · 62% a year, about 1.6 years per position

  1. Low
  2. Moderate
  3. High

Top 5 positions76% of US stock

  1. GOOG Alphabet Inc. Class C added+2.64 pp added+2.6418.1%
  2. TDG TransDigm Group Incorporated added+5.94 pp added+5.9415.3%
  3. AMZN Amazon.Com Inc added+2.10 pp added+2.1014.4%
  4. V VISA Inc. added+7.59 pp added+7.5914.3%
  5. MSFT Microsoft Corp added+2.05 pp added+2.0514.0%

Positions9 in this filing · 2 exited

GOOGAlphabet Inc. Class C18.10%836,850$140Madded+17%+2.64 pp19 q
TDGTransDigm Group Incorporated15.27%82,673$118Madded+33%+5.94 pp39 q
AMZNAmazon.Com Inc14.39%596,771$111Madded+10%+2.10 pp13 q
VVISA Inc.14.34%402,969$111Madded+84%+7.59 pp35 q
MSFTMicrosoft Corp14.04%252,144$108Madded+10%+2.05 pp17 q
CHTRCharter Comm Inc Del CL A New11.35%270,740$88Mtrimmed−57%−10.66 pp34 q
MCOMoody's Corporation6.66%108,387$51Mtrimmed−28%−0.79 pp38 q
CPCanadian Pacific Kansas City Limited3.48%314,734$27Mheld—4 q
UNPUnion Pacific Corp.2.38%74,500$18Mheld—3 q
LRCXLam Research Corp—−52,530—exited−6.56 pp—
MSCIMSCI, Inc.—−57,920—exited−3.27 pp—

Source

Form
13F-HR
Reading
0 defects · 0 unresolved
Accession
0001387292-24-000020
Options
none in this filing
Notes
none in this filing
SEC cross-check
SEC data set not published yet