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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
+4.75%
1 Year Est. Return
+36.37%
3 Year Est. Return
+206.07%
5 Year Est. Return
+135.57%
10 Year Est. Return
–
AUM
$317M
AUM Growth
-$31.2M
Cap. Flow
-$35.6M
Cap. Flow %
-11.23%
Top 10 Hldgs %
79.25%
Holding
19
New
2
Increased
7
Reduced
4
Closed
4

Top Buys

Rank Stock Value
1
PINS icon
Pinterest
PINS
+$11.4M
2
ARCE
Arco Platform Limited Class A Common Shares
ARCE
+$6.87M
3
SMAR
Smartsheet Inc.
SMAR
+$6.19M
4
DOCU
DocuSign
DOCU
+$5.76M
5
ASAP
Waitr Holdings Inc. Common Stock
ASAP
+$5.03M

Top Sells

Rank Stock Value
1
MTN icon
Vail Resorts
MTN
+$20.8M
2
WYNN icon
Wynn Resorts
WYNN
+$17.6M
3
TWTR
Twitter, Inc.
TWTR
+$13.1M
4
TWLO icon
Twilio
TWLO
+$7.62M
5
PYPL icon
PayPal
PYPL
+$6.53M

Sector Composition

Rank Sector Weight
1 Communication Services 40.38%
2 Technology 22.94%
3 Consumer Discretionary 14.84%
4 Industrials 10.48%
5 Financials 8.8%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PYPL icon
1
PayPal
PYPL
$49.9B
$27.9M 8.8%
243,630
-58,938
-19% -$6.53M
TWLO icon
2
Twilio
TWLO
$31.4B
$27.4M 8.64%
200,822
-57,250
-22% -$7.62M
MNTV
3
DELISTED
Momentive Global Inc. Common Stock
MNTV
$27.2M 8.57%
1,644,588
-312,400
-16% -$5.34M
TMUS icon
4
T-Mobile US
TMUS
$208B
$25.8M 8.15%
348,094
+60,006
+21% +$4.46M
AMZN icon
5
Amazon
AMZN
$2.66T
$25.6M 8.07%
270,020
– –
DOCU
6
DocuSign
DOCU
$10.1B
$25.4M 8.03%
511,920
+107,900
+27% +$5.76M
Z icon
7
Zillow
Z
$7.76B
$25.4M 8.02%
547,599
+66,660
+14% +$2.65M
TWTR
8
DELISTED
Twitter, Inc.
TWTR
$24.3M 7.67%
696,496
-356,883
-34% -$13.1M
ETSY icon
9
Etsy
ETSY
$7.98B
$21.4M 6.77%
349,461
– –
AZUL
10
DELISTED
Azul
AZUL
$20.7M 6.52%
617,711
+15,764
+3% +$457K
SMAR
11
DELISTED
Smartsheet Inc.
SMAR
$19.8M 6.26%
409,640
+145,600
+55% +$6.19M
EB
12
DELISTED
Eventbrite
EB
$13.9M 4.4%
859,614
+120,765
+16% +$2.24M
ASAP
13
DELISTED
Waitr Holdings Inc. Common Stock
ASAP
$12.6M 3.96%
99,765
+29,480
+42% +$5.03M
PINS icon
14
Pinterest
PINS
$13B
$11.3M 3.57%
+415,831
New +$11.4M
ARCE
15
DELISTED
Arco Platform Limited Class A Common Shares
ARCE
$8.11M 2.56%
+185,243
New +$6.87M
BAND
16
Bandwidth Inc
BAND
$2.3B
– –
-70,000
Closed -$4.69M
MTN icon
17
Vail Resorts
MTN
$5.27B
– –
-95,782
Closed -$20.8M
WYNN icon
18
Wynn Resorts
WYNN
$10B
– –
-147,579
Closed -$17.6M
MIME
19
DELISTED
Mimecast Limited
MIME
– –
-103,952
Closed -$4.92M

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PSC
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KF
KKM Financial Chicago, Illinois $563M AUM 28.2% 1-Year Est. Return
AHSW
Adventist Health System West Roseville, California $564M AUM 17.1% 1-Year Est. Return
AAS
Asset Allocation Strategies Farmington, Michigan $563M AUM 15.65% 1-Year Est. Return
KBG
Kahn Brothers Group New York $564M AUM 25.3% 1-Year Est. Return
LC
Lavaca Capital Houston, Texas $564M AUM 4.6% 1-Year Est. Return
AMCA
Arthur M. Cohen & Associates Northbrook, Illinois $563M AUM 20.97% 1-Year Est. Return
GWAG
Garrett Wealth Advisory Group Weatherford, Texas $562M AUM 16.6% 1-Year Est. Return

ThornTree Capital Partners's Q2 2019 Portfolio in Review

As of Q2 2019, ThornTree Capital Partners held 19 positions worth $317M, down 9% from $348M the previous quarter. Its ten largest holdings account for 79% of the portfolio.

ThornTree Capital Partners withdrew a net $35.6M in Q2 2019, closing 4 positions and reducing 4 holdings. Its most notable exit was Vail Resorts, an estimated $20.8M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 40% of assets, up from 35% a quarter earlier, followed by Technology and Consumer Discretionary.

Against the trend, ThornTree Capital Partners opened a new position in Pinterest worth $11.3M.

  • ThornTree Capital Partners's largest Q2 2019 buy was Pinterest: 415,831 shares worth $11.3M.
  • ThornTree Capital Partners added most to Smartsheet Inc. in Q2 2019, an estimated $6.19M increase.
  • ThornTree Capital Partners's biggest Q2 2019 reduction was Twitter, Inc., cutting an estimated $13.1M.
  • ThornTree Capital Partners fully exited Vail Resorts in Q2 2019, selling an estimated $20.8M.
  • ThornTree Capital Partners's ten largest holdings make up 79% of its $317M portfolio in Q2 2019.
  • ThornTree Capital Partners opened 2 new positions and closed 4 in Q2 2019.
  • ThornTree Capital Partners's portfolio value fell 9% quarter-over-quarter to $317M.

Based on ThornTree Capital Partners's 13F filing for Q2 2019, filed 14 Aug 2019.