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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
-5.29%
1 Year Est. Return
+36.37%
3 Year Est. Return
+206.07%
5 Year Est. Return
+135.57%
10 Year Est. Return
–
AUM
$318M
AUM Growth
-$27M
Cap. Flow
-$14.5M
Cap. Flow %
-4.57%
Top 10 Hldgs %
82.7%
Holding
22
New
7
Increased
4
Reduced
3
Closed
8

Top Buys

Rank Stock Value
1
TWTR
Twitter, Inc.
TWTR
+$43.4M
2
WYNN icon
Wynn Resorts
WYNN
+$27.7M
3
TWLO icon
Twilio
TWLO
+$24.4M
4
DOCU
DocuSign
DOCU
+$21.6M
5
AMZN icon
Amazon
AMZN
+$20.5M

Top Sells

Rank Stock Value
1
AME icon
Ametek
AME
+$45.9M
2
SITE icon
SiteOne Landscape Supply
SITE
+$29.6M
3
IEX icon
IDEX
IEX
+$24.8M
4
BKNG icon
Booking.com
BKNG
+$23.4M
5
APD icon
Air Products & Chemicals
APD
+$19.8M

Sector Composition

Rank Sector Weight
1 Communication Services 31.76%
2 Consumer Discretionary 23.53%
3 Technology 18.27%
4 Industrials 17%
5 Financials 9.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TWTR
1
DELISTED
Twitter, Inc.
TWTR
$39.8M 12.5%
+1,384,320
New +$43.4M
TMUS icon
2
T-Mobile US
TMUS
$208B
$36.4M 11.45%
572,541
+170,439
+42% +$11.4M
PYPL icon
3
PayPal
PYPL
$49.9B
$30M 9.44%
357,088
+141,603
+66% +$11.8M
TWLO icon
4
Twilio
TWLO
$31.4B
$26.8M 8.42%
+300,072
New +$24.4M
WYNN icon
5
Wynn Resorts
WYNN
$10B
$25.4M 7.97%
+256,479
New +$27.7M
MNTV
6
DELISTED
Momentive Global Inc. Common Stock
MNTV
$24.9M 7.81%
2,025,988
+1,540,264
+317% +$19.2M
AZUL
7
DELISTED
Azul
AZUL
$21M 6.59%
757,001
-110,500
-13% -$2.69M
DOCU
8
DocuSign
DOCU
$10.1B
$20.6M 6.48%
+514,220
New +$21.6M
ETSY icon
9
Etsy
ETSY
$7.98B
$19.8M 6.24%
417,161
+105,474
+34% +$4.96M
AMZN icon
10
Amazon
AMZN
$2.66T
$18.5M 5.81%
+246,020
New +$20.5M
ASAP
11
DELISTED
Waitr Holdings Inc. Common Stock
ASAP
$17.1M 5.38%
+76,770
New +$17.5M
TDG icon
12
TransDigm Group
TDG
$67.9B
$16M 5.03%
47,100
-53,100
-53% -$18.2M
BABA icon
13
Alibaba
BABA
$276B
$11.2M 3.52%
81,646
-86,482
-51% -$12.8M
ERIC icon
14
Ericsson
ERIC
$32.4B
$10.7M 3.37%
+1,207,582
New +$10.5M
AME icon
15
Ametek
AME
$54.3B
– –
-580,435
Closed -$45.9M
APD icon
16
Air Products & Chemicals
APD
$65.8B
– –
-118,268
Closed -$19.8M
APTV icon
17
Aptiv
APTV
$12.2B
– –
-195,500
Closed -$16.4M
BKNG icon
18
Booking.com
BKNG
$141B
– –
-294,525
Closed -$23.4M
IEX icon
19
IDEX
IEX
$16.6B
– –
-164,693
Closed -$24.8M
SBAC icon
20
SBA Communications
SBAC
$19.7B
– –
-119,748
Closed -$19.2M
SITE icon
21
SiteOne Landscape Supply
SITE
$4.6B
– –
-393,031
Closed -$29.6M
TV icon
22
Televisa
TV
$1.43B
– –
-825,155
Closed -$14.6M

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KF
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AHSW
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AAS
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KBG
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LC
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AMCA
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GWAG
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ThornTree Capital Partners's Q4 2018 Portfolio in Review

As of Q4 2018, ThornTree Capital Partners held 22 positions worth $318M, down 7.8% from $345M the previous quarter. Its ten largest holdings account for 83% of the portfolio.

ThornTree Capital Partners withdrew a net $14.5M in Q4 2018, closing 8 positions and reducing 3 holdings. Its most notable exit was Ametek, an estimated $45.9M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 32% of assets, up from 15% a quarter earlier, followed by Consumer Discretionary and Technology.

Against the trend, ThornTree Capital Partners opened a new position in Twitter, Inc. worth $39.8M.

  • ThornTree Capital Partners's largest Q4 2018 buy was Twitter, Inc.: 1,384,320 shares worth $39.8M.
  • ThornTree Capital Partners added most to Momentive Global Inc. Common Stock in Q4 2018, an estimated $19.2M increase.
  • ThornTree Capital Partners's biggest Q4 2018 reduction was TransDigm Group, cutting an estimated $18.2M.
  • ThornTree Capital Partners fully exited Ametek in Q4 2018, selling an estimated $45.9M.
  • ThornTree Capital Partners's ten largest holdings make up 83% of its $318M portfolio in Q4 2018.
  • ThornTree Capital Partners opened 7 new positions and closed 8 in Q4 2018.
  • ThornTree Capital Partners's portfolio value fell 7.8% quarter-over-quarter to $318M.

Based on ThornTree Capital Partners's 13F filing for Q4 2018, filed 14 Feb 2019.