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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
+26.81%
1 Year Est. Return
+36.37%
3 Year Est. Return
+206.07%
5 Year Est. Return
+135.57%
10 Year Est. Return
–
AUM
$705M
AUM Growth
+$71.8M
(+11%)
Cap. Flow
-$28.3M
Cap. Flow
% of AUM
-4.01%
Top 10 Holdings %
Top 10 Hldgs %
58.49%
Holding
32
New
6
Increased
6
Reduced
15
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
NBIS
Nebius Group N.V.
NBIS
|
+$39.1M |
| 2 |
Etsy
ETSY
|
+$37.1M |
| 3 |
FIVE9
FIVN
|
+$24.3M |
| 4 |
Palantir
PLTR
|
+$18.8M |
| 5 |
Meta Platforms (Facebook)
META
|
+$12.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TWTR
Twitter, Inc.
TWTR
|
+$29.6M |
| 2 |
PENN Entertainment
PENN
|
+$27.2M |
| 3 |
Amazon
AMZN
|
+$25.2M |
| 4 |
Cloudflare
NET
|
+$19.1M |
| 5 |
PayPal
PYPL
|
+$9.47M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 32.84% |
| 2 | Communication Services | 28.43% |
| 3 | Consumer Discretionary | 23.48% |
| 4 | Financials | 5.9% |
| 5 | Industrials | 3.67% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Zillow
Z
$7.76B
| $69.5M | 9.85% |
684,048
-70,243
| -9% | -$5.49M |
|
|
2
PENN Entertainment
PENN
$2.75B
| $53.8M | 7.63% |
739,862
-554,088
| -43% | -$27.2M |
|
3
StoneCo
STNE
$2.71B
| $43.7M | 6.2% |
826,886
+202,030
| +32% | +$9.65M |
|
|
NBIS
4
Nebius Group N.V.
NBIS
$45.1B
| $42.9M | 6.08% |
+657,015
| New | +$39.1M |
|
|
5
Meta Platforms (Facebook)
META
$1.64T
| $39.5M | 5.6% |
150,900
+47,900
| +47% | +$12.4M |
|
|
6
Etsy
ETSY
$7.98B
| $38.6M | 5.47% |
+316,974
| New | +$37.1M |
|
|
WW
7
DELISTED
WW International
WW
| $32.5M | 4.6% |
1,719,829
+185,593
| +12% | +$4.37M |
|
|
8
PayPal
PYPL
$49.9B
| $31.6M | 4.48% |
160,223
-50,272
| -24% | -$9.47M |
|
|
DOCU
9
DocuSign
DOCU
$10.1B
| $31.1M | 4.41% |
144,513
-36,900
| -20% | -$7.66M |
|
|
SPLK
10
DELISTED
Splunk Inc
SPLK
| $29.4M | 4.17% |
156,477
+18,363
| +13% | +$3.66M |
|
11
Booking.com
BKNG
$141B
| $28M | 3.96% |
408,675
+95,000
| +30% | +$6.67M |
|
|
SMAR
12
DELISTED
Smartsheet Inc.
SMAR
| $27.7M | 3.92% |
560,134
-145,100
| -21% | -$7.01M |
|
|
13
FIVE9
FIVN
$1.96B
| $26.2M | 3.71% |
+201,988
| New | +$24.3M |
|
14
Twilio
TWLO
$31.4B
| $25.9M | 3.67% |
104,822
-11,900
| -10% | -$2.93M |
|
|
AZUL
15
DELISTED
Azul
AZUL
| $25.9M | 3.67% |
1,966,900
-362,665
| -16% | -$4.66M |
|
|
MNTV
16
DELISTED
Momentive Global Inc. Common Stock
MNTV
| $21.2M | 3.01% |
960,290
-309,400
| -24% | -$7.19M |
|
|
17
Palantir
PLTR
$317B
| $18.8M | 2.66% |
+1,975,000
| New | +$18.8M |
|
|
18
Cloudflare
NET
$98.6B
| $17.1M | 2.43% |
417,607
-499,600
| -54% | -$19.1M |
|
|
DISH
19
DELISTED
DISH Network Corp.
DISH
| $15.9M | 2.26% |
549,315
-253,612
| -32% | -$8.37M |
|
|
LSXMA
20
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
| $15.9M | 2.26% |
652,593
-204,966
| -24% | -$5.27M |
|
|
VAPO
21
DELISTED
Vapotherm, Inc. Common Stock
VAPO
| $15.1M | 2.14% |
65,191
+9,904
| +18% | +$2.85M |
|
22
Peloton Interactive
PTON
$2.65B
| $12.9M | 1.82% |
129,646
-108,100
| -45% | -$7.95M |
|
23
Atlanta Braves Holdings Series B
BATRK
$3.31B
| $11.4M | 1.62% |
544,037
-486,900
| -47% | -$9.43M |
|
24
XP
XP
$8.61B
| $10.1M | 1.43% |
241,762
-69,100
| -22% | -$3.16M |
|
|
ARCE
25
DELISTED
Arco Platform Limited Class A Common Shares
ARCE
| $8.98M | 1.27% |
219,901
-31,900
| -13% | -$1.4M |
|
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ThornTree Capital Partners's Q3 2020 Portfolio in Review
As of Q3 2020, ThornTree Capital Partners held 32 positions worth $705M, up 11% from $634M the previous quarter. Its ten largest holdings account for 58% of the portfolio.
ThornTree Capital Partners withdrew a net $28.3M in Q3 2020, closing 5 positions and reducing 15 holdings. Its most notable exit was Twitter, Inc., an estimated $29.6M position sold in full.
By sector, the portfolio is most concentrated in Technology at 33% of assets, up from 28% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, ThornTree Capital Partners opened a new position in Nebius Group N.V. worth $42.9M.
- ThornTree Capital Partners's largest Q3 2020 buy was Nebius Group N.V.: 657,015 shares worth $42.9M.
- ThornTree Capital Partners added most to Meta Platforms (Facebook) in Q3 2020, an estimated $12.4M increase.
- ThornTree Capital Partners's biggest Q3 2020 reduction was PENN Entertainment, cutting an estimated $27.2M.
- ThornTree Capital Partners fully exited Twitter, Inc. in Q3 2020, selling an estimated $29.6M.
- ThornTree Capital Partners's ten largest holdings make up 58% of its $705M portfolio in Q3 2020.
- ThornTree Capital Partners opened 6 new positions and closed 5 in Q3 2020.
- ThornTree Capital Partners's portfolio value rose 11% quarter-over-quarter to $705M.
Based on ThornTree Capital Partners's 13F filing for Q3 2020, filed 13 Nov 2020.