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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
-1.21%
1 Year Est. Return
+36.37%
3 Year Est. Return
+206.07%
5 Year Est. Return
+135.57%
10 Year Est. Return
–
AUM
$708M
AUM Growth
-$33.5M
Cap. Flow
+$33M
Cap. Flow %
4.66%
Top 10 Hldgs %
51%
Holding
38
New
7
Increased
6
Reduced
11
Closed
8

Top Buys

Rank Stock Value
1
COOK icon
Traeger
COOK
+$30M
2
PLTR icon
Palantir
PLTR
+$26.6M
3
ACVA icon
ACV Auctions
ACVA
+$23.1M
4
GDRX icon
GoodRx Holdings
GDRX
+$19.9M
5
SPLK
Splunk Inc
SPLK
+$17.5M

Top Sells

Rank Stock Value
1
PYPL icon
PayPal
PYPL
+$19.2M
2
FIVN icon
FIVE9
FIVN
+$18.5M
3
DOCU
DocuSign
DOCU
+$17.4M
4
AGGRU
Agile Growth Corp Units
AGGRU
+$15M
5
ETSY icon
Etsy
ETSY
+$13.3M

Sector Composition

Rank Sector Weight
1 Technology 26.57%
2 Consumer Discretionary 22.42%
3 Communication Services 18.51%
4 Financials 13.65%
5 Industrials 3.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AFRM icon
1
Affirm
AFRM
$25.6B
$65.3M 9.22%
547,859
-68,012
-11% -$5.43M
Z icon
2
Zillow
Z
$7.61B
$44.6M 6.31%
506,578
+116,312
+30% +$11.8M
META icon
3
Meta Platforms (Facebook)
META
$1.65T
$36.6M 5.18%
107,983
-25,062
-19% -$9.03M
PENN icon
4
PENN Entertainment
PENN
$2.87B
$35.2M 4.97%
485,507
+46,399
+11% +$3.41M
WSM icon
5
Williams-Sonoma
WSM
$26.4B
$35M 4.94%
394,600
-48,886
-11% -$4.14M
SMAR
6
DELISTED
Smartsheet Inc.
SMAR
$34M 4.8%
493,886
-123,077
-20% -$9.05M
NET icon
7
Cloudflare
NET
$98.1B
$30.5M 4.31%
271,022
– –
ACVA icon
8
ACV Auctions
ACVA
$1.3B
$27.4M 3.87%
1,532,817
+1,087,838
+244% +$23.1M
PLTR icon
9
Palantir
PLTR
$326B
$26.2M 3.71%
+1,091,521
New +$26.6M
DISH
10
CALL
DELISTED
DISH Network Corp.
DISH
$26.1M 3.68%
600,000
– –
COOK icon
11
Traeger
COOK
$183M
$25.2M 3.56%
+24,054
New +$30M
XP icon
12
XP
XP
$8.79B
$24.7M 3.49%
615,563
-272,763
-31% -$12.2M
WW
13
DELISTED
WW International
WW
$24.3M 3.44%
1,334,135
+530,250
+66% +$13.9M
AZUL
14
DELISTED
Azul
AZUL
$23.2M 3.28%
1,158,580
-109,147
-9% -$2.39M
SPLK
15
CALL
DELISTED
Splunk Inc
SPLK
$23.2M 3.27%
160,000
– –
GDRX icon
16
GoodRx Holdings
GDRX
$1.06B
$22.5M 3.17%
+547,662
New +$19.9M
DISH
17
DELISTED
DISH Network Corp.
DISH
$20.6M 2.91%
473,546
+135,199
+40% +$5.75M
PENN icon
18
CALL
PENN Entertainment
PENN
$2.87B
$19.9M 2.82%
275,000
– –
TWLO icon
19
Twilio
TWLO
$32B
$18.7M 2.64%
58,513
– –
DOCU
20
DocuSign
DOCU
$10.2B
$18.1M 2.55%
70,218
-60,444
-46% -$17.4M
STNE icon
21
StoneCo
STNE
$2.72B
$17.8M 2.52%
512,811
-87,135
-15% -$4.52M
SPLK
22
DELISTED
Splunk Inc
SPLK
$17.4M 2.46%
+120,539
New +$17.5M
MNTV
23
DELISTED
Momentive Global Inc. Common Stock
MNTV
$15.6M 2.2%
794,051
-52,174
-6% -$1.06M
DUOL icon
24
Duolingo
DUOL
$6.29B
$14M 1.98%
+84,179
New +$12.8M
DIBS icon
25
1stdibs.com
DIBS
$164M
$13.6M 1.92%
1,095,928
+592,865
+118% +$10.9M
1
2

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AHSW
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AAS
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KBG
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ThornTree Capital Partners's Q3 2021 Portfolio in Review

As of Q3 2021, ThornTree Capital Partners held 38 positions worth $708M, down 4.5% from $741M the previous quarter. Its ten largest holdings account for 51% of the portfolio.

ThornTree Capital Partners deployed $33M of net new capital in Q3 2021, opening 7 new positions and adding to 6 existing holdings. Its largest new stake was Traeger: 24,054 shares worth $25.2M.

By sector, the portfolio is most concentrated in Technology at 27% of assets, down from 28% a quarter earlier, followed by Consumer Discretionary and Communication Services.

On the sell side, the largest reduction was DocuSign, an estimated $17.4M trimmed.

  • ThornTree Capital Partners's largest Q3 2021 buy was Traeger: 24,054 shares worth $25.2M.
  • ThornTree Capital Partners added most to ACV Auctions in Q3 2021, an estimated $23.1M increase.
  • ThornTree Capital Partners's biggest Q3 2021 reduction was DocuSign, cutting an estimated $17.4M.
  • ThornTree Capital Partners fully exited PayPal in Q3 2021, selling an estimated $19.2M.
  • ThornTree Capital Partners's ten largest holdings make up 51% of its $708M portfolio in Q3 2021.
  • ThornTree Capital Partners opened 7 new positions and closed 8 in Q3 2021.
  • ThornTree Capital Partners's portfolio value fell 4.5% quarter-over-quarter to $708M.

Based on ThornTree Capital Partners's 13F filing for Q3 2021, filed 15 Nov 2021.