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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
+61.8%
1 Year Est. Return
+36.37%
3 Year Est. Return
+206.07%
5 Year Est. Return
+135.57%
10 Year Est. Return
–
AUM
$634M
AUM Growth
+$273M
Cap. Flow
+$86.2M
Cap. Flow %
13.61%
Top 10 Hldgs %
54.6%
Holding
29
New
8
Increased
10
Reduced
8
Closed
3

Top Buys

Rank Stock Value
1
PENN icon
PENN Entertainment
PENN
+$29.6M
2
DISH
DISH Network Corp.
DISH
+$22.3M
3
SPLK
Splunk Inc
SPLK
+$21.8M
4
META icon
Meta Platforms (Facebook)
META
+$21.5M
5
BKNG icon
Booking.com
BKNG
+$19.1M

Top Sells

Rank Stock Value
1
UBER icon
Uber
UBER
+$32.8M
2
TWLO icon
Twilio
TWLO
+$15.3M
3
WW
WW International
WW
+$14.2M
4
MNTV
Momentive Global Inc. Common Stock
MNTV
+$11.4M
5
PINS icon
Pinterest
PINS
+$9.71M

Sector Composition

Rank Sector Weight
1 Technology 28%
2 Communication Services 27.53%
3 Consumer Discretionary 21.69%
4 Financials 7.85%
5 Industrials 4.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
Z icon
1
Zillow
Z
$7.76B
$43.5M 6.86%
754,291
+7,445
+1% +$370K
PENN icon
2
PENN Entertainment
PENN
$2.75B
$39.5M 6.24%
+1,293,950
New +$29.6M
WW
3
DELISTED
WW International
WW
$38.9M 6.15%
1,534,236
-610,096
-28% -$14.2M
PYPL icon
4
PayPal
PYPL
$49.9B
$36.7M 5.79%
210,495
+10,112
+5% +$1.4M
SMAR
5
DELISTED
Smartsheet Inc.
SMAR
$35.9M 5.67%
705,234
+164,300
+30% +$8.36M
NET icon
6
Cloudflare
NET
$98.6B
$33M 5.2%
917,207
-295,285
-24% -$8.25M
DOCU
7
DocuSign
DOCU
$10.1B
$31.2M 4.93%
181,413
-28,800
-14% -$3.63M
MNTV
8
DELISTED
Momentive Global Inc. Common Stock
MNTV
$29.9M 4.72%
1,269,690
-626,963
-33% -$11.4M
TWTR
9
DELISTED
Twitter, Inc.
TWTR
$29.6M 4.67%
993,668
+161,113
+19% +$4.86M
DISH
10
DELISTED
DISH Network Corp.
DISH
$27.7M 4.37%
+802,927
New +$22.3M
SPLK
11
DELISTED
Splunk Inc
SPLK
$27.4M 4.33%
+138,114
New +$21.8M
AZUL
12
DELISTED
Azul
AZUL
$26M 4.11%
2,329,565
+303,320
+15% +$2.92M
TWLO icon
13
Twilio
TWLO
$31.4B
$25.6M 4.04%
116,722
-95,200
-45% -$15.3M
AMZN icon
14
Amazon
AMZN
$2.66T
$25.2M 3.98%
182,840
-10,000
-5% -$1.21M
STNE icon
15
StoneCo
STNE
$2.71B
$24.2M 3.82%
+624,856
New +$18.2M
META icon
16
Meta Platforms (Facebook)
META
$1.64T
$23.4M 3.69%
+103,000
New +$21.5M
LSXMA
17
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
$21.8M 3.43%
857,559
+388,198
+83% +$9.5M
BATRK icon
18
Atlanta Braves Holdings Series B
BATRK
$3.31B
$20.4M 3.21%
1,030,937
+531,375
+106% +$10.6M
BKNG icon
19
Booking.com
BKNG
$141B
$20M 3.15%
+313,675
New +$19.1M
VAPO
20
DELISTED
Vapotherm, Inc. Common Stock
VAPO
$18.1M 2.86%
55,287
-876
-2% -$185K
PTON icon
21
Peloton Interactive
PTON
$2.65B
$13.7M 2.17%
+237,746
New +$9.84M
XP icon
22
XP
XP
$8.61B
$13.1M 2.06%
310,862
+100,596
+48% +$3.09M
ARCE
23
DELISTED
Arco Platform Limited Class A Common Shares
ARCE
$10.9M 1.73%
251,801
+125,900
+100% +$5.97M
WW
24
PUT
DELISTED
WW International
WW
$7.61M 1.2%
+300,000
New +$6.99M
LSXMK
25
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
$6.03M 0.95%
226,004
+36,471
+19% +$938K
1
2

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ThornTree Capital Partners's Q2 2020 Portfolio in Review

As of Q2 2020, ThornTree Capital Partners held 29 positions worth $634M, up 76% from $360M the previous quarter. Its ten largest holdings account for 55% of the portfolio.

ThornTree Capital Partners deployed $86.2M of net new capital in Q2 2020, opening 8 new positions and adding to 10 existing holdings. Its largest new stake was PENN Entertainment: 1,293,950 shares worth $39.5M.

By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 36% a quarter earlier, followed by Communication Services and Consumer Discretionary.

On the sell side, the largest reduction was Twilio, an estimated $15.3M trimmed.

  • ThornTree Capital Partners's largest Q2 2020 buy was PENN Entertainment: 1,293,950 shares worth $39.5M.
  • ThornTree Capital Partners added most to Atlanta Braves Holdings Series B in Q2 2020, an estimated $10.6M increase.
  • ThornTree Capital Partners's biggest Q2 2020 reduction was Twilio, cutting an estimated $15.3M.
  • ThornTree Capital Partners fully exited Uber in Q2 2020, selling an estimated $32.8M.
  • ThornTree Capital Partners's ten largest holdings make up 55% of its $634M portfolio in Q2 2020.
  • ThornTree Capital Partners opened 8 new positions and closed 3 in Q2 2020.
  • ThornTree Capital Partners's portfolio value rose 76% quarter-over-quarter to $634M.

Based on ThornTree Capital Partners's 13F filing for Q2 2020, filed 14 Aug 2020.