We are live on ! Find out more
TCP

ThornTree Capital Partners Portfolio holdings

AUM $731M
1-Year Est. Return 30.12%
This Fund
S&P 500
This Quarter Est. Return
+18.11%
1 Year Est. Return
+30.12%
3 Year Est. Return
+216.66%
5 Year Est. Return
+151.14%
10 Year Est. Return
–
AUM
$731M
AUM Growth
+$168M
Cap. Flow
+$96.1M
Cap. Flow %
13.14%
Top 10 Hldgs %
73.76%
Holding
21
New
5
Increased
5
Reduced
5
Closed
2

Top Buys

Rank Stock Value
1
AXP icon
American Express
AXP
+$53.4M
2
ADI icon
Analog Devices
ADI
+$30.1M
3
NTRA icon
Natera
NTRA
+$24.7M
4
NU icon
Nu Holdings
NU
+$23.7M
5
LION icon
Lionsgate Studios
LION
+$16.1M

Top Sells

Rank Stock Value
1
ONON icon
On Holding
ONON
+$19.3M
2
AFRM icon
Affirm
AFRM
+$17.4M
3
VEEV icon
Veeva Systems
VEEV
+$17.1M
4
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$13.1M
5
INTU icon
Intuit
INTU
+$11.3M

Sector Composition

Rank Sector Weight
1 Technology 24.64%
2 Consumer Discretionary 24.09%
3 Financials 22.43%
4 Communication Services 19.29%
5 Industrials 5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VIK icon
1
Viking Holdings
VIK
$38.2B
$64.5M 8.83%
616,700
-60,387
-9% -$5.22M
CIEN icon
2
Ciena
CIEN
$45B
$63.9M 8.74%
130,272
– –
NU icon
3
Nu Holdings
NU
$75.7B
$61.3M 8.38%
4,584,775
+1,757,331
+62% +$23.7M
FWONK icon
4
Liberty Media Series C
FWONK
$24.3B
$57.5M 7.87%
604,763
+91,273
+18% +$8.16M
AXP icon
5
American Express
AXP
$223B
$56.4M 7.71%
+166,784
New +$53.4M
ADI icon
6
Analog Devices
ADI
$173B
$55.5M 7.59%
139,751
+76,099
+120% +$30.1M
RL icon
7
Ralph Lauren
RL
$20.5B
$54.4M 7.44%
135,557
+18,017
+15% +$6.71M
AFRM icon
8
Affirm
AFRM
$25.1B
$46.4M 6.34%
568,524
-265,765
-32% -$17.4M
META icon
9
Meta Platforms (Facebook)
META
$1.56T
$43M 5.87%
76,272
– –
MTZ icon
10
MasTec
MTZ
$18.7B
$36.5M 5%
87,828
-24,913
-22% -$9.52M
SHOP icon
11
Shopify
SHOP
$188B
$35.1M 4.8%
307,137
+95,342
+45% +$10.9M
NTRA icon
12
Natera
NTRA
$47.2B
$31.5M 4.31%
+116,021
New +$24.7M
INTU icon
13
Intuit
INTU
$94.2B
$25.7M 3.52%
98,636
-32,537
-25% -$11.3M
ONON icon
14
On Holding
ONON
$9.48B
$23.7M 3.24%
668,771
-528,567
-44% -$19.3M
NFLX icon
15
Netflix
NFLX
$344B
$21.5M 2.94%
300,810
– –
LION icon
16
Lionsgate Studios
LION
$3.3B
$19.1M 2.61%
+1,246,584
New +$16.1M
MELI icon
17
Mercado Libre
MELI
$101B
$18.1M 2.47%
10,642
– –
RRR icon
18
Red Rock Resorts
RRR
$3.38B
$15.5M 2.12%
+237,896
New +$13.5M
SPY icon
19
State Street SPDR S&P 500 ETF Trust
SPY
$818B
$1.79M 0.25%
+2,401
New +$1.74M
GOOGL icon
20
Alphabet (Google) Class A
GOOGL
$4.19T
– –
-45,628
Closed -$13.1M
VEEV icon
21
Veeva Systems
VEEV
$46B
– –
-97,238
Closed -$17.1M

Similar funds

MCM
Morton Capital Management Calabasas, California $731M AUM 20.62% 1-Year Est. Return
MHS
M Holdings Securities Portland, Oregon $731M AUM 34.87% 1-Year Est. Return
GHAM
Gilman Hill Asset Management New Canaan, Connecticut $731M AUM 19.41% 1-Year Est. Return
DC
Decheng Capital Menlo Park, California $732M AUM 275.56% 1-Year Est. Return
HEIP
Hudson Edge Investment Partners Jersey City, New Jersey $732M AUM 23.32% 1-Year Est. Return
LS
Liquid Strategies Atlanta, Georgia $732M AUM 17.42% 1-Year Est. Return
MIOT
Massachusetts Institute of Technology Cambridge, Massachusetts $733M AUM 24.57% 1-Year Est. Return
KF
KKM Financial Chicago, Illinois $730M AUM 53.51% 1-Year Est. Return

ThornTree Capital Partners's Q2 2026 Portfolio in Review

As of Q2 2026, ThornTree Capital Partners held 21 positions worth $731M, up 30% from $564M the previous quarter. Its ten largest holdings account for 74% of the portfolio.

ThornTree Capital Partners deployed $96.1M of net new capital in Q2 2026, opening 5 new positions and adding to 5 existing holdings. Its largest new stake was American Express: 166,784 shares worth $56.4M.

By sector, the portfolio is most concentrated in Technology at 25% of assets, down from 27% a quarter earlier, followed by Consumer Discretionary and Financials.

On the sell side, the largest reduction was On Holding, an estimated $19.3M trimmed.

  • ThornTree Capital Partners's largest Q2 2026 buy was American Express: 166,784 shares worth $56.4M.
  • ThornTree Capital Partners added most to Analog Devices in Q2 2026, an estimated $30.1M increase.
  • ThornTree Capital Partners's biggest Q2 2026 reduction was On Holding, cutting an estimated $19.3M.
  • ThornTree Capital Partners fully exited Veeva Systems in Q2 2026, selling an estimated $17.1M.
  • ThornTree Capital Partners's ten largest holdings make up 74% of its $731M portfolio in Q2 2026.
  • ThornTree Capital Partners opened 5 new positions and closed 2 in Q2 2026.
  • ThornTree Capital Partners's portfolio value rose 30% quarter-over-quarter to $731M.

Based on ThornTree Capital Partners's 13F filing for Q2 2026, filed 14 Aug 2026.