PaperPanda Fund Terminal
Triple Frond Partners
Triple Frond Partners LLC · CIK: 1454502 · Report Period: 2025-12-31 · Filed: 2026-02-13
Portfolio Concentration
Top 10 holdings by weight — hover for cross-investor insights
Loading chart data...
Holdings
Total: $962,175,000 · 12 positions
| # | Ticker | Issuer | Class | % of Portfolio | Value ($) | Shares | Activity | Share Change |
|---|---|---|---|---|---|---|---|---|
| 1 |
 MSFT
|
MICROSOFT CORP | COM | 17.7% | $170,478,000 | 352,504 | REDUCE | -32,674 |
| 2 |
 TDG
|
TRANSDIGM GROUP INC | COM | 14.4% | $138,163,000 | 103,894 | ADD | +46,930 |
| 3 |
 ASML
|
ASML HOLDING N V | COM | 11.9% | $114,238,000 | 106,778 | REDUCE | -4,692 |
| 4 |
 GOOG
|
ALPHABET INC | COM | 11.5% | $110,915,000 | 353,459 | REDUCE | -197,415 |
| 5 |
 AMZN
|
AMAZON.COM INC | COM | 11.5% | $110,455,000 | 478,534 | REDUCE | -61,917 |
| 6 |
 META
|
META PLATFORMS INC | COM | 6.7% | $64,277,000 | 97,376 | REDUCE | -4,279 |
| 7 |
 LRCX
|
LAM RESEARCH CORP | COM | 5.3% | $50,563,000 | 295,377 | REDUCE | -132,513 |
| 8 |
 ILMN
|
ILLUMINA INC COM | COM | 5.1% | $49,075,000 | 374,160 | REDUCE | -16,440 |
| 9 |
 TRU
|
TRANSUNION COM | COM | 4.9% | $47,261,000 | 551,153 | ADD | +120,683 |
| 10 |
 CCCS
|
CCC INTELLIGENT SOLUTION HOLDINGS INC | COM | 4.0% | $38,200,000 | 4,805,036 | ADD | +1,140,536 |
| 11 |
 LYV
|
LIVE NATION ENTERTAINMENT IN | COM | 3.8% | $36,460,000 | 255,858 | NEW BUY | +255,858 |
| 12 |
 CHTR
|
CHARTER COMMUNICATIONS INC N | COM | 3.3% | $32,090,000 | 153,725 | REDUCE | -6,755 |
Position Changes
8 quarters available
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | LRCX | LAM RESEARCH CORP | REDUCE | -132,513 | -31.0% | 295,377 | $50,563,000 |
| 2 | AMZN | AMAZON.COM INC | REDUCE | -61,917 | -11.5% | 478,534 | $110,455,000 |
| 3 | LYV | LIVE NATION ENTERTAINMENT IN | NEW BUY | +255,858 | New | 255,858 | $36,460,000 |
| 4 | GOOG | ALPHABET INC | REDUCE | -197,415 | -35.8% | 353,459 | $110,915,000 |
| 5 | ILMN | ILLUMINA INC COM | REDUCE | -16,440 | -4.2% | 374,160 | $49,075,000 |
| 6 | META | META PLATFORMS INC | REDUCE | -4,279 | -4.2% | 97,376 | $64,277,000 |
| 7 | TDG | TRANSDIGM GROUP INC | ADD | +46,930 | +82.4% | 103,894 | $138,163,000 |
| 8 | CHTR | CHARTER COMMUNICATIONS INC N | REDUCE | -6,755 | -4.2% | 153,725 | $32,090,000 |
| 9 | CCCS | CCC INTELLIGENT SOLUTION HOLDINGS INC | ADD | +1,140,536 | +31.1% | 4,805,036 | $38,200,000 |
| 10 | MSFT | MICROSOFT CORP | REDUCE | -32,674 | -8.5% | 352,504 | $170,478,000 |
| 11 | TRU | TRANSUNION COM | ADD | +120,683 | +28.0% | 551,153 | $47,261,000 |
| 12 | ASML | ASML HOLDING N V | REDUCE | -4,692 | -4.2% | 106,778 | $114,238,000 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | LRCX | LAM RESEARCH CORP | REDUCE | -278,725 | -39.4% | 427,890 | $57,294,000 |
| 2 | AMZN | AMAZON.COM INC | ADD | +53,260 | +10.9% | 540,451 | $118,667,000 |
| 3 | GOOG | ALPHABET INC | REDUCE | -98,031 | -15.1% | 550,874 | $134,165,000 |
| 4 | ILMN | ILLUMINA INC COM | NEW BUY | +390,600 | New | 390,600 | $37,095,000 |
| 5 | - | MOODYS CORP | SOLD | -81,627 | Exit | - | - |
| 6 | META | META PLATFORMS INC | REDUCE | -8,545 | -7.8% | 101,655 | $74,653,000 |
| 7 | TDG | TRANSDIGM GROUP INC | REDUCE | -16,830 | -22.8% | 56,964 | $75,080,000 |
| 8 | CCCS | CCC INTELLIGENT SOLUTION HOLDINGS INC | ADD | +508,500 | +16.1% | 3,664,500 | $33,384,000 |
| 9 | MSFT | MICROSOFT CORP | REDUCE | -17,865 | -4.4% | 385,178 | $199,503,000 |
| 10 | TRU | TRANSUNION COM | NEW BUY | +430,470 | New | 430,470 | $36,065,000 |
| 11 | ASML | ASML HOLDING N V | ADD | +32,170 | +40.6% | 111,470 | $107,913,000 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | LRCX | LAM RESEARCH CORP | ADD | +194,850 | +38.1% | 706,615 | $51,371,000 |
| 2 | AMZN | AMAZON.COM INC | REDUCE | -42,800 | -8.1% | 487,191 | $92,693,000 |
| 3 | GOOG | ALPHABET INC | REDUCE | -158,409 | -19.6% | 648,905 | $101,378,000 |
| 4 | - | MOODYS CORP | REDUCE | -22,960 | -22.0% | 81,627 | $38,013,000 |
| 5 | - | CANADIAN PACIFIC KANSAS CITY | SOLD | -404,369 | Exit | - | - |
| 6 | META | META PLATFORMS INC | NEW BUY | +76,750 | New | 76,750 | $44,236,000 |
| 7 | TDG | TRANSDIGM GROUP INC | ADD | +12,390 | +15.5% | 92,144 | $127,462,000 |
| 8 | CCCS | CCC INTELLIGENT SOLUTION HOLDINGS INC | NEW BUY | +2,415,000 | New | 2,415,000 | $21,807,000 |
| 9 | MSFT | MICROSOFT CORP | ADD | +124,585 | +44.7% | 403,043 | $151,298,000 |
| 10 | ASML | ASML HOLDING N V | NEW BUY | +79,300 | New | 79,300 | $52,547,000 |
| 11 | - | VISA INC | SOLD | -358,393 | Exit | - | - |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | TDG | TRANSDIGM GROUP INC | REDUCE | -2,919 | -3.5% | 79,754 | $101,071,000 |
| 2 | CHTR | CHARTER COMMUNICATIONS INC N | REDUCE | -110,260 | -40.7% | 160,480 | $55,008,000 |
| 3 | LRCX | LAM RESEARCH CORP | NEW BUY | +511,765 | New | 511,765 | $36,965,000 |
| 4 | - | UNION PAC CORP | SOLD | -74,500 | Exit | - | - |
| 5 | AMZN | AMAZON.COM INC | REDUCE | -66,780 | -11.2% | 529,991 | $116,275,000 |
| 6 | GOOG | ALPHABET INC | REDUCE | -29,536 | -3.5% | 807,314 | $153,745,000 |
| 7 | - | MOODYS CORP | REDUCE | -3,800 | -3.5% | 104,587 | $49,508,000 |
| 8 | - | CANADIAN PACIFIC KANSAS CITY | ADD | +89,635 | +28.5% | 404,369 | $29,264,000 |
| 9 | MSFT | MICROSOFT CORP | ADD | +26,314 | +10.4% | 278,458 | $117,370,000 |
| 10 | - | VISA INC | REDUCE | -44,576 | -11.1% | 358,393 | $113,266,000 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | AMZN | AMAZON.COM INC | ADD | +54,870 | +10.1% | 596,771 | $111,196,000 |
| 2 | GOOG | ALPHABET INC | ADD | +118,590 | +16.5% | 836,850 | $139,913,000 |
| 3 | - | MOODYS CORP | REDUCE | -42,400 | -28.1% | 108,387 | $51,440,000 |
| 4 | TDG | TRANSDIGM GROUP INC | ADD | +20,434 | +32.8% | 82,673 | $117,985,000 |
| 5 | CHTR | CHARTER COMMUNICATIONS INC N | REDUCE | -356,785 | -56.9% | 270,740 | $87,741,000 |
| 6 | - | LAM RESEARCH CORP | SOLD | -52,530 | Exit | - | - |
| 7 | - | MSCI INC | SOLD | -57,920 | Exit | - | - |
| 8 | MSFT | MICROSOFT CORP | ADD | +23,490 | +10.3% | 252,144 | $108,498,000 |
| 9 | - | VISA INC | ADD | +183,640 | +83.7% | 402,969 | $110,796,000 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | GOOG | ALPHABET INC | REDUCE | -60,040 | -7.7% | 718,260 | $131,743,000 |
| 2 | - | MOODYS CORP | REDUCE | -23,966 | -13.7% | 150,787 | $63,471,000 |
| 3 | - | CANADIAN PACIFIC KANSAS CITY | REDUCE | -126,110 | -28.6% | 314,734 | $24,779,000 |
| 4 | - | VERISIGN INC | SOLD | -233,415 | Exit | - | - |
| 5 | TDG | TRANSDIGM GROUP INC | REDUCE | -40,443 | -39.4% | 62,239 | $79,517,000 |
| 6 | CHTR | CHARTER COMMUNICATIONS INC N | ADD | +165,880 | +35.9% | 627,525 | $187,605,000 |
| 7 | - | MSCI INC | NEW BUY | +57,920 | New | 57,920 | $27,903,000 |
| 8 | - | VISA INC | REDUCE | -82,838 | -27.4% | 219,329 | $57,567,000 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | UNION PAC CORP | NEW BUY | +74,500 | New | 74,500 | $18,322,000 |
| 2 | GOOG | ALPHABET INC | ADD | +61,600 | +8.6% | 778,300 | $118,504,000 |
| 3 | TDG | TRANSDIGM GROUP INC | REDUCE | -17,300 | -14.4% | 102,682 | $126,463,000 |
| 4 | CHTR | CHARTER COMMUNICATIONS INC N | ADD | +63,600 | +16.0% | 461,645 | $134,168,000 |
| 5 | - | LAM RESEARCH CORP | REDUCE | -9,530 | -15.4% | 52,530 | $51,037,000 |
| 6 | - | VISA INC | REDUCE | -64,470 | -17.6% | 302,167 | $84,329,000 |
Loading deployment data...