What did Triple Frond Partners buy in Q3 2025?

Triple Frond Partners opened 2 new positions (ILMN, TRU) and added to 1 existing holding in the Q3 2025 13F.

What did Triple Frond Partners sell in Q3 2025?

Triple Frond Partners exited 1 position (MCO) and trimmed 2.

What Triple Frond Partners bought and sold in Q3 2025

In Q3 2025, Triple Frond Partners (Triple Frond Partners) opened 2 new positions — including ILMN (4.0%), TRU (3.9%), added to 1, trimmed 2, exited 1 (MCO). The book stood at $918M across 11 positions, filed Nov 14, 2025.

2New1Added2Trimmed1Exited

Share𝕏 in

New positions (2)

ILMNIllumina Inc4.0% · $37M
TRUTransunion3.9% · $36M

Added to (1)

ASMLAsml Holding N V+41% shares · 11.8% · $108M

Trimmed (2)

TDGTransdigm Group Inc-23% shares · 8.2% · $75M
LRCXLam Research Corp-39% shares · 6.2% · $57M

Exited (1)

MCOMoody's Corpwas 4.8% of book

Triple Frond Partners's other filings

Q1 2026 changes Q4 2025 changes Q2 2025 changes Q1 2025 changes Q4 2024 changes

Triple Frond Partners's full portfolio →The whole cohort in Q3 2025 →

Changes vs the prior quarter's 13F, long US equity positions only (no shorts, options, or non-US listings). ADD/TRIM are share- count changes of ±20% or more. Sourced from SEC EDGAR. Not investment advice.