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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
+23.78%
1 Year Est. Return
+36.37%
3 Year Est. Return
+206.07%
5 Year Est. Return
+135.57%
10 Year Est. Return
–
AUM
$348M
AUM Growth
+$29.8M
Cap. Flow
-$31.3M
Cap. Flow %
-8.99%
Top 10 Hldgs %
75.25%
Holding
20
New
6
Increased
1
Reduced
10
Closed
3

Top Buys

Rank Stock Value
1
EB
Eventbrite
EB
+$20.9M
2
MTN icon
Vail Resorts
MTN
+$19.6M
3
Z icon
Zillow
Z
+$17.2M
4
SMAR
Smartsheet Inc.
SMAR
+$9.13M
5
MIME
Mimecast Limited
MIME
+$4.37M

Top Sells

Rank Stock Value
1
TMUS icon
T-Mobile US
TMUS
+$19.9M
2
TDG icon
TransDigm Group
TDG
+$16M
3
WYNN icon
Wynn Resorts
WYNN
+$13M
4
BABA icon
Alibaba
BABA
+$11.2M
5
ERIC icon
Ericsson
ERIC
+$10.7M

Sector Composition

Rank Sector Weight
1 Communication Services 34.79%
2 Consumer Discretionary 24.7%
3 Technology 21.46%
4 Industrials 10.02%
5 Financials 9.03%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MNTV
1
DELISTED
Momentive Global Inc. Common Stock
MNTV
$35.6M 10.24%
1,956,988
-69,000
-3% -$971K
TWTR
2
DELISTED
Twitter, Inc.
TWTR
$34.6M 9.95%
1,053,379
-330,941
-24% -$10.5M
TWLO icon
3
Twilio
TWLO
$31.4B
$33.3M 9.58%
258,072
-42,000
-14% -$4.73M
PYPL icon
4
PayPal
PYPL
$49.9B
$31.4M 9.03%
302,568
-54,520
-15% -$5.16M
AMZN icon
5
Amazon
AMZN
$2.66T
$24M 6.91%
270,020
+24,000
+10% +$2M
ETSY icon
6
Etsy
ETSY
$7.98B
$23.5M 6.75%
349,461
-67,700
-16% -$4.04M
DOCU
7
DocuSign
DOCU
$10.1B
$20.9M 6.02%
404,020
-110,200
-21% -$5.62M
MTN icon
8
Vail Resorts
MTN
$5.27B
$20.8M 5.98%
+95,782
New +$19.6M
TMUS icon
9
T-Mobile US
TMUS
$208B
$19.9M 5.72%
288,088
-284,453
-50% -$19.9M
WYNN icon
10
Wynn Resorts
WYNN
$10B
$17.6M 5.06%
147,579
-108,900
-42% -$13M
AZUL
11
DELISTED
Azul
AZUL
$17.6M 5.05%
601,947
-155,054
-20% -$4.63M
ASAP
12
DELISTED
Waitr Holdings Inc. Common Stock
ASAP
$17.3M 4.97%
70,285
-6,485
-8% -$1.55M
Z icon
13
Zillow
Z
$7.76B
$16.7M 4.8%
+480,939
New +$17.2M
EB
14
DELISTED
Eventbrite
EB
$14.2M 4.07%
+738,849
New +$20.9M
SMAR
15
DELISTED
Smartsheet Inc.
SMAR
$10.8M 3.1%
+264,040
New +$9.13M
MIME
16
DELISTED
Mimecast Limited
MIME
$4.92M 1.41%
+103,952
New +$4.37M
BAND
17
Bandwidth Inc
BAND
$2.3B
$4.69M 1.35%
+70,000
New +$3.68M
BABA icon
18
Alibaba
BABA
$276B
– –
-81,646
Closed -$11.2M
ERIC icon
19
Ericsson
ERIC
$32.4B
– –
-1,207,582
Closed -$10.7M
TDG icon
20
TransDigm Group
TDG
$67.9B
– –
-47,100
Closed -$16M

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PSC
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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 Q1 2019 Portfolio in Review

As of Q1 2019, ThornTree Capital Partners held 20 positions worth $348M, up 9.4% from $318M the previous quarter. Its ten largest holdings account for 75% of the portfolio.

ThornTree Capital Partners withdrew a net $31.3M in Q1 2019, closing 3 positions and reducing 10 holdings. Its most notable exit was TransDigm Group, an estimated $16M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 35% of assets, up from 32% a quarter earlier, followed by Consumer Discretionary and Technology.

Against the trend, ThornTree Capital Partners opened a new position in Eventbrite worth $14.2M.

  • ThornTree Capital Partners's largest Q1 2019 buy was Eventbrite: 738,849 shares worth $14.2M.
  • ThornTree Capital Partners added most to Amazon in Q1 2019, an estimated $2M increase.
  • ThornTree Capital Partners's biggest Q1 2019 reduction was T-Mobile US, cutting an estimated $19.9M.
  • ThornTree Capital Partners fully exited TransDigm Group in Q1 2019, selling an estimated $16M.
  • ThornTree Capital Partners's ten largest holdings make up 75% of its $348M portfolio in Q1 2019.
  • ThornTree Capital Partners opened 6 new positions and closed 3 in Q1 2019.
  • ThornTree Capital Partners's portfolio value rose 9.4% quarter-over-quarter to $348M.

Based on ThornTree Capital Partners's 13F filing for Q1 2019, filed 15 May 2019.