ThornTree Capital Partners LP
CIK 1688511 · View on SEC EDGAR ↗
- Portfolio value
- $731.3M
- Positions
- 19
- As of
- June 30, 2026
Portfolio value QoQ: +29.8% 13F does not disclose cash
- Top 10 holdings weight
- 73.76%
- Top 25 holdings weight
- 100.00%
- Positions above 1%
- 18
- Effective number of positions
- 15.4
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 14.79% Est. buys $204,768,547 · sells $95,774,761
Median holding: 2.0 quarters Tracked Q4 2024–Q2 2026 · 44.2% still held
- New positions
- 5
- Increased
- 5
- Decreased
- 5
- Closed
- 2
On this page
- Performance vs S&P How this manager's 13F portfolio performed against the S&P 500.
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Performance vs S&P 500
Annualized: +10.6% · S&P 500: +18.0%
Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.
Priceable coverage: 99.9% · Options excluded: 4.8%
Sector breakdown
Full portfolio 19 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| VIK Viking Holdings Ltd Ordinary Shares | $64,549,989 | 8.83% | 616,700 | $14,797,636 | Down ×1 | ||
| CIEN Ciena Corporation Common Stock | $63,906,232 | 8.74% | 130,272 | $13,330,733 | |||
| NU Nu Holdings Ltd. Class A Ordinary Shares | $61,252,594 | 8.38% | 4,584,775 | $20,622,224 | Up ×2 | ||
| FWONK Liberty Media Corporation - Series C Liberty Formula One Common Stock | $57,537,152 | 7.87% | 604,763 | $13,880,232 | Up ×2 | ||
| AXP American Express Company Common Stock | $56,414,688 | 7.71% | 166,784 | Up ×1 | |||
| ADI Analog Devices, Inc. - Common Stock | $55,504,905 | 7.59% | 139,751 | $35,254,658 | Up ×1 | ||
| RL Ralph Lauren Corporation Common Stock | $54,413,935 | 7.44% | 135,557 | $13,981,350 | Up ×2 | ||
| AFRM Affirm Holdings, Inc. - Class A Common Stock | $46,363,132 | 6.34% | 568,524 | $8,136,010 | Down ×1 | ||
| META Meta Platforms, Inc. - Class A Common Stock | $42,963,255 | 5.87% | 76,272 | $-674,244 | |||
| MTZ MasTec, Inc. Common Stock | $36,541,718 | 5.00% | 87,828 | $268,429 | Down ×1 | ||
| SHOP Shopify Inc. - Class A Subordinate Voting Shares | $35,068,903 | 4.80% | 307,137 | $9,945,780 | Up ×1 | ||
| NTRA Natera, Inc. - Common Stock | $31,493,900 | 4.31% | 116,021 | Up ×1 | |||
| INTU Intuit Inc. - Common Stock | $25,743,996 | 3.52% | 98,636 | $-30,972,586 | Down ×1 | ||
| ONON On Holding AG Class A Ordinary Shares | $23,687,869 | 3.24% | 668,771 | $-17,045,570 | Down ×1 | ||
| NFLX Netflix, Inc. - Common Stock | $21,477,834 | 2.94% | 300,810 | $-7,445,048 | |||
| LION Lionsgate Studios Corp Common Shares | $19,085,201 | 2.61% | 1,246,584 | Up ×1 | |||
| MELI MercadoLibre, Inc. - Common Stock | $18,063,624 | 2.47% | 10,642 | $-336,607 | |||
| RRR Red Rock Resorts, Inc. - Class A Common Stock | $15,477,514 | 2.12% | 237,896 | Up ×1 | |||
| SPY SPY | $1,792,995 | 0.25% | 2,401 | Up ×1 | |||
| No matches | |||||||
Biggest new bets
New positions opened this quarter, largest first.
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| ADI | Bought more | +76K | +$35.3M |
| INTU | Trimmed | -33K | -$31.0M |
| NU | Bought more | +1.8M | +$20.6M |
| ONON | Trimmed | -529K | -$17.0M |
| VIK | Trimmed | -60K | +$14.8M |
| RL | Bought more | +18K | +$14.0M |
| FWONK | Bought more | +91K | +$13.9M |
| CIEN | Price move only | +0 | +$13.3M |
| SHOP | Bought more | +95K | +$9.9M |
| AFRM | Trimmed | -266K | +$8.1M |
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| DUOL | March 31, 2025 | 170,532 | $55,291,590 | -52.5% |
| RKT | March 31, 2026 | 2,231,659 | $43,204,918 | -1.0% |
| KMX | Sept. 30, 2025 | 606,928 | $40,791,631 | 34.0% |
| CFLT | Dec. 31, 2025 | 1,750,817 | $34,666,177 | No longer tracked |
| DKS | Dec. 31, 2025 | 151,329 | $33,628,330 | -6.6% |
| DUOL | March 31, 2026 | 184,867 | $32,444,159 | 49.6% |
| FLUT | March 31, 2025 | 100,000 | $25,845,000 | -53.9% |
| ACVA | March 31, 2025 | 1,040,719 | $22,479,530 | -47.3% |
| TDS | Dec. 31, 2025 | 531,692 | $20,863,594 | -15.1% |
| BIRK | March 31, 2025 | 344,257 | $19,505,602 | -22.6% |
| WBD | June 30, 2025 | 1,792,720 | $19,235,886 | 147.6% |
| TSLA | Sept. 30, 2025 | 55,941 | $17,770,218 | -22.4% |
| VEEV | June 30, 2026 | 97,238 | $17,080,827 | 42.0% |
| CSGP | March 31, 2026 | 242,032 | $16,274,232 | -17.0% |
| FERG | Dec. 31, 2025 | 68,344 | $15,348,696 | 7.6% |
| AD | June 30, 2025 | 200,366 | $13,855,309 | -45.3% |
| GOOGL | June 30, 2026 | 45,628 | $13,120,788 | -4.0% |
| BOOT | June 30, 2025 | 50,000 | $5,371,500 | 8.3% |
| LLYVKXXXX | June 30, 2025 | 16,891 | $1,150,953 | No longer tracked |