Triple Frond Partners LLC
Long book
$962.9M
Q1 2026
Positions
12
Top-10 weight
93%
concentration
Last quarter
+15.8%
SPY +14.8%
Turnover
15%
of book per quarter
Strategy in plain words
auto-generated from filingsTriple Frond Partners LLC is a concentrated fundamental stock-picker, running a $962.9M US long book across 12 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is modest: positions are typically held for years. Current anchor positions: ASML HOLDING NV-NY REG SHS, MICROSOFT CORP, TRANSDIGM GROUP INC, ALPHABET INC-CL C, AMAZON.COM INC.
Over the last 9 quarters its long book ran on average 1pp per quarter ahead of the S&P 500, beating the index in 6 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+4.9%
Q2 2024
+1.7%
Q3 2024
+6.0%
Q4 2024
-4.0%
Q1 2025
+19.2%
Q2 2025
+6.6%
Q3 2025
+5.8%
Q4 2025
-6.7%
Q1 2026
+15.8%
Sector allocation
Technology 34%
Industrials 29%
Services media 19%
Consumer discretionary 10%
Healthcare 4%
Communications 3%
Long book by quarter
What does Triple Frond own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| ASML ASML HOLDING NV-NY REG SHS | Industrials | 118.9K | $157.1M | 16.3% | +11.4% |
| MSFT MICROSOFT CORP | Technology | 352.5K | $130.5M | 13.6% | Held |
| TDG TRANSDIGM GROUP INC | Industrials | 106.5K | $123.5M | 12.8% | +2.6% |
| GOOG ALPHABET INC-CL C | Technology | 353.5K | $101.4M | 10.5% | Held |
| AMZN AMAZON.COM INC | Consumer discretionary | 478.5K | $99.7M | 10.4% | Held |
| MA MASTERCARD INC - A | Services media | 175.5K | $87.7M | 9.1% | New |
| META META PLATFORMS INC-CLASS A | Technology | 117.6K | $67.3M | 7.0% | +20.8% |
| TRU TRANSUNION | Services media | 817.8K | $56.6M | 5.9% | +48.4% |
| ILMN ILLUMINA INC | Healthcare | 306.5K | $37.8M | 3.9% | -18.1% |
| LYV LIVE NATION ENTERTAINMENT IN | Services media | 234.8K | $35.8M | 3.7% | -8.2% |
| CHTR CHARTER COMMUNICATIONS INC-A | Communications | 153.7K | $33.2M | 3.4% | Held |
| CCC CCC INTELLIGENT SOLUTIONS HO | Technology | 5.4M | $32.5M | 3.4% | +12.7% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 12 | $962.9M | $K fixed canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 12 | $962.2M | $K fixed canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 11 | $918.0M | $K fixed canonical | SEC ↗ |
| Q2 2025 | 13F-HR/ARESTATEMENT | Aug 15, 2025 | 10 | $884.6M | $K fixed canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 10 | $571K | SEC ↗ | |
| Q1 2025 | 13F-HR | May 14, 2025 | 10 | $739.9M | $K fixed canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 11, 2025 | 9 | $772.5M | $K fixed canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 13, 2024 | 9 | $772.9M | $K fixed canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 11 | $852.3M | $K fixed canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 11 | $878.6M | $K fixed canonical | SEC ↗ |
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