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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
+3.18%
1 Year Est. Return
+36.37%
3 Year Est. Return
+206.07%
5 Year Est. Return
+135.57%
10 Year Est. Return
–
AUM
$776M
AUM Growth
-$25.2M
Cap. Flow
-$13.3M
Cap. Flow %
-1.72%
Top 10 Hldgs %
56.78%
Holding
39
New
14
Increased
4
Reduced
13
Closed
8

Top Buys

Rank Stock Value
1
AFRM icon
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
BKNG icon
Booking.com
BKNG
+$26.4M
2
NBIS
Nebius Group N.V.
NBIS
+$25.6M
3
FIVN icon
FIVE9
FIVN
+$24.2M
4
Z icon
Zillow
Z
+$21.9M
5
FND icon
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 Industrials 3%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
Z icon
1
Zillow
Z
$7.76B
$64.7M 8.34%
499,259
-147,372
-23% -$21.9M
AFRM icon
2
Affirm
AFRM
$25.5B
$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
WSM icon
4
Williams-Sonoma
WSM
$26.9B
$48.8M 6.29%
544,644
+76,438
+16% +$5.16M
META icon
5
Meta Platforms (Facebook)
META
$1.64T
$45.8M 5.9%
155,365
-40,435
-21% -$10.9M
PENN icon
6
PENN Entertainment
PENN
$2.75B
$45.3M 5.84%
431,889
-148,221
-26% -$16.4M
XP icon
7
XP
XP
$8.61B
$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
STNE icon
9
StoneCo
STNE
$2.71B
$33.7M 4.34%
550,228
+29,042
+6% +$2.27M
PYPL icon
10
PayPal
PYPL
$49.9B
$29.3M 3.77%
120,506
-11,211
-9% -$2.83M
AFRM icon
11
CALL
Affirm
AFRM
$25.5B
$28.6M 3.69%
+405,000
New +$39.4M
TWLO icon
12
Twilio
TWLO
$31.4B
$26.5M 3.42%
77,875
-15,747
-17% -$5.9M
UBER icon
13
Uber
UBER
$147B
$25.6M 3.3%
470,286
-232,314
-33% -$13M
DOCU
14
DocuSign
DOCU
$10.1B
$23.5M 3.03%
116,224
-15,789
-12% -$3.66M
ETSY icon
15
Etsy
ETSY
$7.98B
$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
NET icon
20
Cloudflare
NET
$98.6B
$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
BATRK icon
24
Atlanta Braves Holdings Series B
BATRK
$3.31B
$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
1
2

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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's Q1 2021 filing shows 14 new, 4 increased, 13 reduced and 8 closed positions. Its largest new stake was Affirm: 758,058 shares worth $53.6M. The largest sale was Booking.com, an estimated $26.4M.

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.

  • 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.