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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
+12.71%
1 Year Est. Return
+36.37%
3 Year Est. Return
+206.07%
5 Year Est. Return
+135.57%
10 Year Est. Return
–
AUM
$770M
AUM Growth
+$169M
Cap. Flow
+$120M
Cap. Flow %
15.52%
Top 10 Hldgs %
57.14%
Holding
31
New
7
Increased
7
Reduced
7
Closed
5

Top Buys

Rank Stock Value
1
CSGP icon
CoStar Group
CSGP
+$35M
2
KMX icon
CarMax
KMX
+$34.2M
3
WBD icon
Warner Bros
WBD
+$19.3M
4
FERG icon
Ferguson
FERG
+$18.1M
5
BIRK icon
Birkenstock
BIRK
+$17.5M

Top Sells

Rank Stock Value
1
PYPL icon
PayPal
PYPL
+$29.2M
2
SGRY icon
Surgery Partners
SGRY
+$23.8M
3
BOOT icon
Boot Barn
BOOT
+$6.78M
4
VIK icon
Viking Holdings
VIK
+$4.63M
5
META icon
Meta Platforms (Facebook)
META
+$3.28M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 24.95%
2 Communication Services 24.19%
3 Technology 10.34%
4 Financials 10.04%
5 Real Estate 4.31%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LLYVK icon
26
Liberty Live Group Series C
LLYVK
$9.46B
$1.15M 0.15%
16,891
– –
META icon
27
PUT
Meta Platforms (Facebook)
META
$1.5T
– –
-55,000
Closed -$31.5M
NU icon
28
PUT
Nu Holdings
NU
$69.2B
– –
-750,000
Closed -$10.2M
PYPL icon
29
PayPal
PYPL
$50.1B
– –
-373,594
Closed -$29.2M
SGRY icon
30
Surgery Partners
SGRY
$2.1B
– –
-736,999
Closed -$23.8M
FLUT icon
31
CALL
Flutter Entertainment
FLUT
$18.4B
– –
-50,000
Closed -$11.9M
1
2

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AHSW
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AAS
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KBG
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LC
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ThornTree Capital Partners's Q4 2024 Portfolio in Review

As of Q4 2024, ThornTree Capital Partners held 31 positions worth $770M, up 28% from $601M the previous quarter. Its ten largest holdings account for 57% of the portfolio.

ThornTree Capital Partners deployed $120M of net new capital in Q4 2024, opening 7 new positions and adding to 7 existing holdings. Its largest new stake was CoStar Group: 463,350 shares worth $33.2M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 25% of assets, up from 22% a quarter earlier, followed by Communication Services and Technology.

On the sell side, the largest reduction was Boot Barn, an estimated $6.78M trimmed.

  • ThornTree Capital Partners's largest Q4 2024 buy was CoStar Group: 463,350 shares worth $33.2M.
  • ThornTree Capital Partners added most to Ferguson in Q4 2024, an estimated $18.1M increase.
  • ThornTree Capital Partners's biggest Q4 2024 reduction was Boot Barn, cutting an estimated $6.78M.
  • ThornTree Capital Partners fully exited PayPal in Q4 2024, selling an estimated $29.2M.
  • ThornTree Capital Partners's ten largest holdings make up 57% of its $770M portfolio in Q4 2024.
  • ThornTree Capital Partners opened 7 new positions and closed 5 in Q4 2024.
  • ThornTree Capital Partners's portfolio value rose 28% quarter-over-quarter to $770M.

Based on ThornTree Capital Partners's 13F filing for Q4 2024, filed 14 Feb 2025.