Stuart Mclaughlin - Triple Frond Partners 13F Activity & Position Changes (Q3 2025)

According to the SEC 13F filed on Nov 14, 2025, the Triple Frond Partners portfolio showed several notable changes in holdings as of quarter-end Sep 30, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q3 2025, the filing reported:

New Buys - Illumina, Inc., TransUnion

Increases - Amazon.com, Inc., ASML, CCC Intelligent Solutions Holdi

Reductions - Alphabet Inc., Lam Research, Meta Platforms, Inc., Microsoft Corporation, Transdigm Group Incorporated

Complete Exits - Moody's Corporation

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q3 2025	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Buy	+53,260	+10.9%	$118.67K	540,451
Q3 2025	ASML ASML	ASML	Buy	+32,170	+40.6%	$107.91K	111,470
Q3 2025	CCCS CCC Intelligent Solutions Holdi	CCC Intelligent Solutions Holdi	Buy	+508,500	+16.1%	$33.38K	3,664,500
Q3 2025	GOOG Alphabet Inc.	Alphabet Inc.	Sell	-98,031	-15.1%	$134.16K	550,874
Q3 2025	ILMN Illumina, Inc.	Illumina, Inc.	Buy - Position Entry	+390,600	-	$37.09K	390,600
Q3 2025	LRCX Lam Research	Lam Research	Sell	-278,725	-39.4%	$57.29K	427,890
Q3 2025	MCO Moody's Corporation	Moody's Corporation	Sell - Position Exit	-81,627	-100.0%	$0.00	-
Q3 2025	META Meta Platforms, Inc.	Meta Platforms, Inc.	Sell	-8,545	-7.8%	$74.65K	101,655
Q3 2025	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-17,865	-4.4%	$199.50K	385,178
Q3 2025	TDG Transdigm Group Incorporated	Transdigm Group Incorporated	Sell	-16,830	-22.8%	$75.08K	56,964
Q3 2025	TRU TransUnion	TransUnion	Buy - Position Entry	+430,470	-	$36.06K	430,470