TF
Triple Frond Partners LLC — 13F Portfolio Report & Top Holdings (Q2 2026)
Triple Frond Partners LLCCIK: 0001454502
ContrarianQuality / disciplined sizingSector-focused
Total reported value
$1.1B
Reporting period: 2026-06-30 · Number of holdings: 13
Triple Frond Partners LLC disclosed 13 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $1.1B and a quarterly turnover rate of 25.6%.
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Personality snowflake
- Concentration
- 44.14
- Portfolio Stability
- 25.63
- Momentum
- 0
- Sector conviction
- 69.89
- Diversification
- 26
- Sizing Uniformity
- 93.14
Triple Frond Partners LLC's disclosed holdings carry a Herfindahl concentration index of 0.110 — mathematically equivalent to about 9 equally-sized positions, close to its 13 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.69), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward initiating meaningfully larger new positions than it adds to existing ones (a 4.6 percentage-point tilt) — a pattern consistent with a more contrarian, new-idea-driven approach.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy DASH
Add ASML
0.0% $79.5M
New buy SPGI
Sold out ILMN
Trim MSFT
0.0% $1.0M
Trim CHTR
0.0% -$11.3M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | ASML | ASML Holding N.V. | Stock-Tech | 21.11% | +4.80% | — | |
| 2 | TDG | Transdigm Group Inc | Stock-Industrials | 12.67% | -0.15% | — | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 11.74% | -1.81% | — | |
| 4 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 9.20% | -1.15% | -9.64% | |
| 5 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 9.19% | -1.34% | -17.52% | |
| 6 | MA | Mastercard Inc - A | Stock-Financials | 8.04% | -1.07% | — | |
| 7 | META | Meta Platforms Inc-class A | Stock-Comm Services | 5.91% | -1.08% | — | |
| 8 | TRU | Transunion | Stock-Financials | 5.27% | -0.61% | — | |
| 9 | DASH | Doordash Inc - A | Stock-Consumer Disc | 4.94% | +4.94% | NEW | |
| 10 | SPGI | S&p Global Inc | Stock-Financials | 4.24% | +4.24% | NEW | |
| 11 | LYV | Live Nation Entertainment In | Stock-Comm Services | 3.24% | -0.48% | -15.55% | |
| 12 | CCC | Ccc Intelligent Solutions Ho | Stock-Tech | 2.49% | -0.88% | — | |
| 13 | CHTR | Charter Communications Inc-a | Stock-Comm Services | 1.95% | -1.50% | — |
Portfolio Performance
Performance for Q3 2026
+6.4%
Performance Last 4 Quarters
+33.5%
- Stdev
- +16.1%
- Beta
- +1.06
- Alpha
- +2.6%
- Max Drawdown
- -13%
- Annualized Perf
- +25%
- Batting Avg vs S&P
- +69.4%
- Sortino
- +3.11
- Stutzer
- +0.43
- Treynor
- +0.22
- Sterling
- +1.35
- Calmar
- +1.92
- Information Ratio
- +0.44
- Tracking Error
- +8.6%
- Stdev Down
- +7.6%
- Winning Months %
- +69.4%
- Losing Months %
- +30.6%
- Best 12 Months
- +37.9%
- Worst 12 Months
- +11.9%
- Efficiency Ratio
- +0.66
- Sharpe
- +1.47
- Stdev Sectors
- +8.1%
- Skewness
- -0.01
- Kurtosis
- -0.69
- Upside Potential
- +4.71
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 13 | $1.1B | 26 | ||
| 2026 Q1 | 12 | $962.9M | 30 | ||
| 2025 Q4 | 12 | $962.2M | 24 | ||
| 2025 Q3 | 11 | $918.0M | 43 | ||
| 2025 Q2 | 10 | $884.6M | 0 | ||
| 2025 Q1 | 10 | $739.9M | 100 | ||
| 2024 Q4 | 9 | $772.5M | 0 | ||
| 2024 Q3 | 9 | $772.9M | 0 | ||
| 2024 Q2 | 11 | $852.3M | 0 | ||
| 2024 Q1 | 11 | $878.6M | 0 | ||
| 2023 Q4 | 10 | $840.7M | 0 | ||
| 2023 Q3 | 10 | $788.3M | 0 | ||
| 2023 Q2 | 10 | $775.6M | 0 | ||
| 2023 Q1 | 10 | $685.4M | 0 | ||
| 2022 Q4 | 9 | $604.7M | 0 | ||
| 2022 Q3 | 10 | $567.8M | 0 | ||
| 2022 Q2 | 9 | $654.1M | 0 | ||
| 2022 Q1 | 10 | $807.8M | 0 | ||
| 2021 Q4 | 10 | $887.4M | 0 | ||
| 2021 Q3 | 10 | $916.9M | 0 | ||
| 2021 Q2 | 11 | $921.9M | 93 | ||
| 2021 Q1 | 11 | $806.3M | 25 | ||
| 2020 Q4 | 9 | $819.9M | 41 | ||
| 2020 Q3 | 10 | $1.2B | 17 | ||
| 2020 Q2 | 9 | $1.0B | 17 | ||
| 2020 Q1 | 10 | $897.5M | 53 | ||
| 2019 Q4 | 9 | $1.2B | 13 | ||
| 2019 Q3 | 9 | $1.0B | 7 | ||
| 2019 Q2 | 9 | $988.9M | 18 | ||
| 2019 Q1 | 9 | $865.7M | 34 | ||
| 2018 Q4 | 10 | $817.6M | 17 | ||
| 2018 Q3 | 10 | $962.0M | 9 | ||
| 2018 Q2 | 10 | $947.8M | 13 | ||
| 2018 Q1 | 9 | $890.1M | 24 | ||
| 2017 Q4 | 8 | $883.1M | 16 | ||
| 2017 Q3 | 8 | $824.7M | 11 | ||
| 2017 Q2 | 9 | $762.2M | 19 | ||
| 2017 Q1 | 9 | $752.3M | 37 | ||
| 2016 Q4 | 9 | $674.3M | 23 | ||
| 2016 Q3 | 9 | $701.9M | 19 | ||
| 2016 Q2 | 10 | $621.5M | 37 | ||
| 2016 Q1 | 8 | $614.1M | 21 | ||
| 2015 Q4 | 7 | $536.1M | 32 | ||
| 2015 Q3 | 7 | $472.6M | 19 | ||
| 2015 Q2 | 7 | $391.5M | 16 | ||
| 2015 Q1 | 6 | $351.8M | 44 | ||
| 2014 Q4 | 6 | $281.2M | 87 | ||
| 2014 Q3 | 5 | $215.7M | 40 | ||
| 2014 Q2 | 5 | $202.1M | 39 | ||
| 2014 Q1 | 7 | $214.9M | 53 | ||
| 2013 Q4 | 10 | $300.1M | 29 | ||
| 2013 Q3 | 9 | $328.0M | 22 | ||
| 2013 Q2 | 8 | $356.8M | 0 |
Holding changes this quarter
Triple Frond Partners LLC's most significant position changes for 2026-06-30: New buy: Doordash Inc - A (DASH); New buy: S&p Global Inc (SPGI); Sold out: Illumina Inc (ILMN); Trim: Alphabet Inc-cl C (GOOG) — shares -17.52%; Trim: Amazon.com Inc (AMZN) — shares -9.64%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | DASH | Doordash Inc - A | +4.9% | NEW | New buy |
| 2 | ASML | ASML Holding N.V. | +4.8% | — | Unchanged |
| 3 | SPGI | S&p Global Inc | +4.2% | NEW | New buy |
| 4 | TDG | Transdigm Group Inc | -0.2% | — | Unchanged |
| 5 | LYV | Live Nation Entertainment In | -0.5% | -15.55% | Trim |
| 6 | TRU | Transunion | -0.6% | — | Unchanged |
| 7 | CCC | Ccc Intelligent Solutions Ho | -0.9% | — | Unchanged |
| 8 | MA | Mastercard Inc - A | -1.1% | — | Unchanged |
| 9 | META | Meta Platforms Inc-class A | -1.1% | — | Unchanged |
| 10 | AMZN | Amazon.com Inc | -1.2% | -9.64% | Trim |
| 11 | GOOG | Alphabet Inc-cl C | -1.3% | -17.52% | Trim |
| 12 | CHTR | Charter Communications Inc-a | -1.5% | — | Unchanged |
| 13 | MSFT | Microsoft CORP | -1.8% | — | Unchanged |
| 14 | ILMN | Illumina Inc | -3.9% | EXIT | Sold out |
Filing History
FAQ
What is Triple Frond Partners LLC and what type of investor is it?
Triple Frond Partners LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $1.1B, spread across 13 disclosed positions.
What are Triple Frond Partners LLC's largest equity positions?
Based on the latest 13F filing, Triple Frond Partners LLC's top holdings by market value are:
1. ASML Holding N.V. (ASML) — $236.6M (21.1%)
2. Transdigm Group Inc (TDG) — $141.9M (12.7%)
3. Microsoft CORP (MSFT) — $131.5M (11.7%)
4. Amazon.com Inc (AMZN) — $103.1M (9.2%)
5. Alphabet Inc-cl C (GOOG) — $103.0M (9.2%)
What changes did Triple Frond Partners LLC make in its most recent portfolio filing?
In the latest reported quarter, Triple Frond Partners LLC made 6 notable position adjustments: 2 new positions were initiated, 0 existing holdings were added to, 3 positions were partially reduced, and 1 were completely exited. The largest of these moves: New buy: Doordash Inc - A (DASH); New buy: S&p Global Inc (SPGI); Sold out: Illumina Inc (ILMN); Trim: Alphabet Inc-cl C (GOOG) — shares -17.52%; Trim: Amazon.com Inc (AMZN) — shares -9.64%
What sectors does Triple Frond Partners LLC focus on?
Triple Frond Partners LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 35.3%
• Communication Services: 20.3%
• Financials: 17.6%
• Consumer Discretionary: 14.1%
• Industrials: 12.7%
Investment Profile
Triple Frond Partners LLC returned an annualized 25.0% over the trailing 36 months — outperforming the S&P 500 by 2.6 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.06 (roughly in line with the market) and a 69% quarterly batting average against the index.
Its portfolio is moderately concentrated and moderately active, with 35.3% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 26 over the past 4 quarters — a shift toward more active trading.
It has added to its ASML position over the past two quarters (+$122.3M, now $236.6M), while trimming CCC over the same stretch (-$10.3M, still holding $27.9M).
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Developer Access
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