Managers / Q3 2025 · view latest →
Triple Frond Partners LLC
CIK 0001454502 · 1300 EVANS AVENUE, NO. 880154, SAN FRANCISCO, CA, 94188 · 415-392-3600
Summary
Triple Frond Partners LLC reported $918M in U.S.-listed holdings across 11 positions for Q3 2025.
The portfolio is heavily concentrated: MSFT alone accounts for 21.7% of reported value.
Compared with Q2 2025, the fund opened 2 new positions and exited 1.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 100.0% · $918M
Quarter-over-Quarter Changes full breakdown →
vs Q2 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| ILMNILLUMINA INC COM | NEW | +390.6K | 390.6K | +$37M | $37M |
| TRUTRANSUNION COM | NEW | +430.5K | 430.5K | +$36M | $36M |
| MCOMOODYS CORP | SOLD OUT | −81.6K | 0 | −$41M | $0 |
| ASMLASML HOLDING N V | ADDED | +32.2K | 111.5K | +$44M | $108M |
| LRCXLAM RESEARCH CORP | TRIMMED | −278.7K | 427.9K | −$11M | $57M |
| TDGTRANSDIGM GROUP INC | TRIMMED | −16.8K | 57.0K | −$37M | $75M |
| CCCCCC INTELLIGENT SOLUTION HOLDINGS INC | ADDED | +508.5K | 3.66M | +$4M | $33M |
| GOOGALPHABET INC | TRIMMED | −98.0K | 550.9K | +$19M | $134M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | MSFTMICROSOFT CORPhistory → | COM | 21.73% | $200M | 385.2K |
| 2 | GOOGALPHABET INChistory → | CAP STK CL C | 14.62% | $134M | 550.9K |
| 3 | AMZNAMAZON.COM INChistory → | COM | 12.93% | $119M | 540.5K |
| 4 | ASMLASML HOLDING N Vhistory → | NY REG SHS | 11.76% | $108M | 111.5K |
| 5 | TDGTRANSDIGM GROUP INChistory → | COM | 8.18% | $75M | 57.0K |
| 6 | METAMETA PLATFORMS INChistory → | CL A | 8.13% | $75M | 101.7K |
| 7 | LRCXLAM RESEARCH CORPhistory → | COM NEW | 6.24% | $57M | 427.9K |
| 8 | CHTRCHARTER COMMUNICATIONS INC Nhistory → | CL A | 4.81% | $44M | 160.5K |
| 9 | ILMNILLUMINA INC COMhistory → | COM | 4.04% | $37M | 390.6K |
| 10 | TRUTRANSUNION COMhistory → | COM | 3.93% | $36M | 430.5K |
| 11 | CCCCCC INTELLIGENT SOLUTION HOLDINGS INChistory → | COM | 3.64% | $33M | 3.66M |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $963M | 12 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $962M | 12 | Feb 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $918M | 11 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $885M | 10 | Aug 15, 2025 | RESTATEMENT | changes · EDGAR ↗ |
| Q1 2025 | $740M | 10 | May 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $772M | 9 | Feb 11, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $773M | 9 | Nov 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $852M | 11 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $879M | 11 | May 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $841M | 10 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $788M | 10 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $776M | 10 | Aug 8, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $685M | 10 | May 12, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $605M | 9 | Feb 8, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $568M | 10 | Nov 10, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $654M | 9 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $808M | 10 | May 12, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $887M | 10 | Feb 10, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $917M | 10 | Nov 10, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $922M | 11 | Aug 11, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $806M | 11 | May 13, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $820M | 9 | Feb 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $1.2B | 10 | Nov 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $1.0B | 9 | Aug 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $897M | 10 | May 6, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $1.2B | 9 | Feb 11, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $1.0B | 9 | Nov 12, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $989M | 9 | Aug 13, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $866M | 9 | May 10, 2019 | 13F-HR | changes · EDGAR ↗ |
Other Included Managers
This filing reports holdings on behalf of 1 additional manager.
- Hawk Hill Capital Partners LP028-13332
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.