There are two types of 3 port valve, mid position and diverter. You can tell which is which by the number of wires in the actuator cable. 3 wires is a basic diverter valve which can only connect inlet AB to either outlet A or B. This type of valve is used on combi boilers to select either heating or hot water mode, but not both simultaneously.
A Honeywell mid position valve has 5 wires and can connect flow to either A or B or both (mid position). This type of valve is commonly used on Y plan systems.
Honeywell actually make four different 3-port valves!
V4073A - mid-position
V4044C - diverter without auxiliary switch
V4044F1034 - diverter with single pole single throw auxiliary switch
V4044F1000 - diverter with single pole double throw auxiliary switch.
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