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ThornTree Capital Partners Portfolio holdings

AUM $564M
1-Year Est. Return 36.37%
This Fund
S&P 500
This Quarter Est. Return
+26.81%
1 Year Est. Return
+36.37%
3 Year Est. Return
+206.07%
5 Year Est. Return
+135.57%
10 Year Est. Return
–
AUM
$705M
AUM Growth
+$71.8M
Cap. Flow
-$28.3M
Cap. Flow %
-4.01%
Top 10 Hldgs %
58.49%
Holding
32
New
6
Increased
6
Reduced
15
Closed
5

Top Buys

Rank Stock Value
1
NBIS
Nebius Group N.V.
NBIS
+$39.1M
2
ETSY icon
Etsy
ETSY
+$37.1M
3
FIVN icon
FIVE9
FIVN
+$24.3M
4
PLTR icon
Palantir
PLTR
+$18.8M
5
META icon
Meta Platforms (Facebook)
META
+$12.4M

Top Sells

Rank Stock Value
1
TWTR
Twitter, Inc.
TWTR
+$29.6M
2
PENN icon
PENN Entertainment
PENN
+$27.2M
3
AMZN icon
Amazon
AMZN
+$25.2M
4
NET icon
Cloudflare
NET
+$19.1M
5
PYPL icon
PayPal
PYPL
+$9.47M

Sector Composition

Rank Sector Weight
1 Technology 32.84%
2 Communication Services 28.43%
3 Consumer Discretionary 23.48%
4 Financials 5.9%
5 Industrials 3.67%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
U icon
26
Unity
U
$18B
$6.55M 0.93%
+75,000
New +$6.33M
CMRC
27
Commerce.com Inc Series 1
CMRC
$192M
$5.14M 0.73%
+61,700
New +$5.39M
AMZN icon
28
Amazon
AMZN
$2.94T
– –
-182,840
Closed -$25.2M
OUT icon
29
Outfront Media
OUT
$5.48B
– –
-292,937
Closed -$4.09M
WW
30
PUT
DELISTED
WW International
WW
– –
-300,000
Closed -$7.61M
LSXMK
31
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
– –
-226,004
Closed -$6.03M
TWTR
32
DELISTED
Twitter, Inc.
TWTR
– –
-993,668
Closed -$29.6M
1
2

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ThornTree Capital Partners's Q3 2020 Portfolio in Review

As of Q3 2020, ThornTree Capital Partners held 32 positions worth $705M, up 11% from $634M the previous quarter. Its ten largest holdings account for 58% of the portfolio.

ThornTree Capital Partners withdrew a net $28.3M in Q3 2020, closing 5 positions and reducing 15 holdings. Its most notable exit was Twitter, Inc., an estimated $29.6M position sold in full.

By sector, the portfolio is most concentrated in Technology at 33% of assets, up from 28% a quarter earlier, followed by Communication Services and Consumer Discretionary.

Against the trend, ThornTree Capital Partners opened a new position in Nebius Group N.V. worth $42.9M.

  • ThornTree Capital Partners's largest Q3 2020 buy was Nebius Group N.V.: 657,015 shares worth $42.9M.
  • ThornTree Capital Partners added most to Meta Platforms (Facebook) in Q3 2020, an estimated $12.4M increase.
  • ThornTree Capital Partners's biggest Q3 2020 reduction was PENN Entertainment, cutting an estimated $27.2M.
  • ThornTree Capital Partners fully exited Twitter, Inc. in Q3 2020, selling an estimated $29.6M.
  • ThornTree Capital Partners's ten largest holdings make up 58% of its $705M portfolio in Q3 2020.
  • ThornTree Capital Partners opened 6 new positions and closed 5 in Q3 2020.
  • ThornTree Capital Partners's portfolio value rose 11% quarter-over-quarter to $705M.

Based on ThornTree Capital Partners's 13F filing for Q3 2020, filed 13 Nov 2020.