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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
-3.92%
1 Year Est. Return
+36.37%
3 Year Est. Return
+206.07%
5 Year Est. Return
+135.57%
10 Year Est. Return
–
AUM
$327M
AUM Growth
+$9.96M
Cap. Flow
+$31.5M
Cap. Flow %
9.63%
Top 10 Hldgs %
88.65%
Holding
18
New
3
Increased
8
Reduced
3
Closed
4

Top Buys

Rank Stock Value
1
XYZ
Block Inc
XYZ
+$36.1M
2
PINS icon
Pinterest
PINS
+$22.2M
3
SMAR
Smartsheet Inc.
SMAR
+$17.1M
4
ETSY icon
Etsy
ETSY
+$14.2M
5
TWLO icon
Twilio
TWLO
+$11.2M

Top Sells

Rank Stock Value
1
TMUS icon
T-Mobile US
TMUS
+$25.8M
2
AMZN icon
Amazon
AMZN
+$25.6M
3
EB
Eventbrite
EB
+$13.9M
4
PYPL icon
PayPal
PYPL
+$12.9M
5
ASAP
Waitr Holdings Inc. Common Stock
ASAP
+$12.6M

Sector Composition

Rank Sector Weight
1 Technology 42.24%
2 Communication Services 32.82%
3 Consumer Discretionary 10.89%
4 Industrials 5.39%
5 Consumer Staples 4.64%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DOCU
1
DocuSign
DOCU
$10.1B
$39.3M 12.04%
635,073
+123,153
+24% +$6.45M
ETSY icon
2
Etsy
ETSY
$7.98B
$33.4M 10.21%
590,361
+240,900
+69% +$14.2M
XYZ
3
Block Inc
XYZ
$47.6B
$32.9M 10.07%
+531,195
New +$36.1M
TWLO icon
4
Twilio
TWLO
$31.4B
$31.6M 9.66%
287,022
+86,200
+43% +$11.2M
PINS icon
5
Pinterest
PINS
$13B
$30.6M 9.37%
1,157,131
+741,300
+178% +$22.2M
MNTV
6
DELISTED
Momentive Global Inc. Common Stock
MNTV
$29.3M 8.98%
1,715,288
+70,700
+4% +$1.23M
SMAR
7
DELISTED
Smartsheet Inc.
SMAR
$27.7M 8.47%
767,840
+358,200
+87% +$17.1M
TWTR
8
DELISTED
Twitter, Inc.
TWTR
$26.4M 8.07%
640,250
-56,246
-8% -$2.3M
Z icon
9
Zillow
Z
$7.76B
$20.9M 6.41%
702,135
+154,536
+28% +$6.16M
AZUL
10
DELISTED
Azul
AZUL
$17.6M 5.39%
491,411
-126,300
-20% -$4.73M
ARCE
11
DELISTED
Arco Platform Limited Class A Common Shares
ARCE
$15.2M 4.64%
299,001
+113,758
+61% +$5.28M
PYPL icon
12
PayPal
PYPL
$49.9B
$13.1M 4.01%
126,588
-117,042
-48% -$12.9M
ZEN
13
DELISTED
ZENDESK INC
ZEN
$6.57M 2.01%
+90,136
New +$7.43M
REAL icon
14
The RealReal
REAL
$1.35B
$2.24M 0.68%
+100,000
New +$2.01M
AMZN icon
15
Amazon
AMZN
$2.66T
– –
-270,020
Closed -$25.6M
EB
16
DELISTED
Eventbrite
EB
– –
-859,614
Closed -$13.9M
TMUS icon
17
T-Mobile US
TMUS
$208B
– –
-348,094
Closed -$25.8M
ASAP
18
DELISTED
Waitr Holdings Inc. Common Stock
ASAP
– –
-99,765
Closed -$12.6M

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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 Q3 2019 Portfolio in Review

As of Q3 2019, ThornTree Capital Partners held 18 positions worth $327M, up 3.1% from $317M the previous quarter. Its ten largest holdings account for 89% of the portfolio.

ThornTree Capital Partners deployed $31.5M of net new capital in Q3 2019, opening 3 new positions and adding to 8 existing holdings. Its largest new stake was Block Inc: 531,195 shares worth $32.9M.

By sector, the portfolio is most concentrated in Technology at 42% of assets, up from 23% a quarter earlier, followed by Communication Services and Consumer Discretionary.

On the sell side, the largest reduction was PayPal, an estimated $12.9M trimmed.

  • ThornTree Capital Partners's largest Q3 2019 buy was Block Inc: 531,195 shares worth $32.9M.
  • ThornTree Capital Partners added most to Pinterest in Q3 2019, an estimated $22.2M increase.
  • ThornTree Capital Partners's biggest Q3 2019 reduction was PayPal, cutting an estimated $12.9M.
  • ThornTree Capital Partners fully exited T-Mobile US in Q3 2019, selling an estimated $25.8M.
  • ThornTree Capital Partners's ten largest holdings make up 89% of its $327M portfolio in Q3 2019.
  • ThornTree Capital Partners opened 3 new positions and closed 4 in Q3 2019.
  • ThornTree Capital Partners's portfolio value rose 3.1% quarter-over-quarter to $327M.

Based on ThornTree Capital Partners's 13F filing for Q3 2019, filed 14 Nov 2019.