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ThornTree Capital Partners Portfolio holdings
AUM
$731M
1-Year Est. Return
30.12%
This Fund
S&P 500
This Quarter
Est. Return
+3.18%
1 Year Est. Return
+30.12%
3 Year Est. Return
+216.66%
5 Year Est. Return
+151.14%
10 Year Est. Return
–
AUM
$776M
AUM Growth
-$25.2M
(-3.1%)
Cap. Flow
-$62.5M
Cap. Flow
% of AUM
-8.05%
Top 10 Holdings %
Top 10 Hldgs %
56.78%
Holding
39
New
14
Increased
4
Reduced
13
Closed
8
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Affirm
AFRM
|
+$73.7M |
| 2 |
DISH
DISH Network Corp.
DISH
|
+$19.7M |
| 3 |
AGGRU
Agile Growth Corp Units
AGGRU
|
+$14.9M |
| 4 |
SPLK
Splunk Inc
SPLK
|
+$13.4M |
| 5 |
XM
Qualtrics International Inc. Class A Common Stock
XM
|
+$11.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Booking.com
BKNG
|
+$26.4M |
| 2 |
NBIS
Nebius Group N.V.
NBIS
|
+$25.6M |
| 3 |
FIVE9
FIVN
|
+$24.2M |
| 4 |
Zillow
Z
|
+$21.9M |
| 5 |
Floor & Decor
FND
|
+$19.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28.29% |
| 2 | Consumer Discretionary | 20.69% |
| 3 | Communication Services | 20.36% |
| 4 | Financials | 15.19% |
| 5 | Miscellaneous | 11.2% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Zillow
Z
$7.78B
| $64.7M | 8.34% |
499,259
-147,372
| -23% | -$21.9M |
|
|
2
Affirm
AFRM
$24.4B
| $53.6M | 6.91% |
+758,058
| New | +$73.7M |
|
|
SMAR
3
DELISTED
Smartsheet Inc.
SMAR
| $50.1M | 6.45% |
783,384
+126,850
| +19% | +$8.88M |
|
4
Williams-Sonoma
WSM
$26.8B
| $48.8M | 6.29% |
544,644
+76,438
| +16% | +$5.16M |
|
5
Meta Platforms (Facebook)
META
$1.57T
| $45.8M | 5.9% |
155,365
-40,435
| -21% | -$10.9M |
|
6
PENN Entertainment
PENN
$2.29B
| $45.3M | 5.84% |
431,889
-148,221
| -26% | -$16.4M |
|
7
XP
XP
$10.1B
| $35M | 4.51% |
929,328
-135,272
| -13% | -$5.77M |
|
|
WW
8
DELISTED
WW International
WW
| $34.4M | 4.43% |
1,098,875
-522,633
| -32% | -$15.1M |
|
9
StoneCo
STNE
$2.33B
| $33.7M | 4.34% |
550,228
+29,042
| +6% | +$2.27M |
|
10
PayPal
PYPL
$47B
| $29.3M | 3.77% |
120,506
-11,211
| -9% | -$2.83M |
|
|
11
CALL
Affirm
AFRM
$24.4B
| $28.6M | 3.69% |
+405,000
| New | +$39.4M |
|
12
Twilio
TWLO
$35.8B
| $26.5M | 3.42% |
77,875
-15,747
| -17% | -$5.9M |
|
13
Uber
UBER
$155B
| $25.6M | 3.3% |
470,286
-232,314
| -33% | -$13M |
|
|
DOCU
14
DocuSign
DOCU
$13.1B
| $23.5M | 3.03% |
116,224
-15,789
| -12% | -$3.66M |
|
15
Etsy
ETSY
$7.02B
| $23.4M | 3.02% |
116,207
-71,867
| -38% | -$15M |
|
|
AZUL
16
DELISTED
Azul
AZUL
| $23.3M | 3% |
1,153,391
-576,492
| -33% | -$12.6M |
|
|
DISH
17
CALL
DELISTED
DISH Network Corp.
DISH
| $21.7M | 2.8% |
+600,000
| New | +$20M |
|
|
SPLK
18
CALL
DELISTED
Splunk Inc
SPLK
| $21.7M | 2.79% |
+160,000
| New | +$25M |
|
|
DISH
19
DELISTED
DISH Network Corp.
DISH
| $21.4M | 2.76% |
+592,119
| New | +$19.7M |
|
20
Cloudflare
NET
$99.3B
| $20M | 2.58% |
284,959
+24,052
| +9% | +$1.85M |
|
|
MNTV
21
DELISTED
Momentive Global Inc. Common Stock
MNTV
| $15.5M | 1.99% |
843,990
-116,300
| -12% | -$2.62M |
|
|
AGGRU
22
DELISTED
Agile Growth Corp Units
AGGRU
| $14.9M | 1.92% |
+1,500,000
| New | +$14.9M |
|
|
SPLK
23
DELISTED
Splunk Inc
SPLK
| $11.7M | 1.5% |
+86,191
| New | +$13.4M |
|
24
Atlanta Braves Holdings Series B
BATRK
$3.24B
| $10.6M | 1.36% |
379,649
-273,088
| -42% | -$7.71M |
|
|
XM
25
DELISTED
Qualtrics International Inc. Class A Common Stock
XM
| $9.39M | 1.21% |
+285,477
| New | +$11.6M |
|
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ThornTree Capital Partners's Q1 2021 Portfolio in Review
As of Q1 2021, ThornTree Capital Partners held 39 positions worth $776M, down 3.1% from $801M the previous quarter. Its ten largest holdings account for 57% of the portfolio.
ThornTree Capital Partners withdrew a net $62.5M in Q1 2021, closing 8 positions and reducing 13 holdings. Its most notable exit was Booking.com, an estimated $26.4M position sold in full.
By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 30% a quarter earlier, followed by Consumer Discretionary and Communication Services.
Against the trend, ThornTree Capital Partners opened a new position in Affirm worth $53.6M.
- ThornTree Capital Partners's largest Q1 2021 buy was Affirm: 758,058 shares worth $53.6M.
- ThornTree Capital Partners added most to Smartsheet Inc. in Q1 2021, an estimated $8.88M increase.
- ThornTree Capital Partners's biggest Q1 2021 reduction was Zillow, cutting an estimated $21.9M.
- ThornTree Capital Partners fully exited Booking.com in Q1 2021, selling an estimated $26.4M.
- ThornTree Capital Partners's ten largest holdings make up 57% of its $776M portfolio in Q1 2021.
- ThornTree Capital Partners opened 14 new positions and closed 8 in Q1 2021.
- ThornTree Capital Partners's portfolio value fell 3.1% quarter-over-quarter to $776M.
Based on ThornTree Capital Partners's 13F filing for Q1 2021, filed 17 May 2021.