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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
-21.82%
1 Year Est. Return
+36.37%
3 Year Est. Return
+206.07%
5 Year Est. Return
+135.57%
10 Year Est. Return
–
AUM
$456M
AUM Growth
-$60.2M
Cap. Flow
+$35.1M
Cap. Flow %
7.69%
Top 10 Hldgs %
63.35%
Holding
30
New
7
Increased
9
Reduced
3
Closed
9

Top Buys

Rank Stock Value
1
Z icon
Zillow
Z
+$30.8M
2
ABNB icon
Airbnb
ABNB
+$24.1M
3
AMZN icon
Amazon
AMZN
+$22.5M
4
MASI
Masimo
MASI
+$22.3M
5
MELI icon
Mercado Libre
MELI
+$20M

Top Sells

Rank Stock Value
1
UBER icon
Uber
UBER
+$39.9M
2
NET icon
Cloudflare
NET
+$35.6M
3
WW
WW International
WW
+$22.9M
4
TWLO icon
Twilio
TWLO
+$17.3M
5
XM
Qualtrics International Inc. Class A Common Stock
XM
+$17M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 37.06%
2 Technology 25.09%
3 Communication Services 24.69%
4 Financials 9.46%
5 Healthcare 3.7%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
Z icon
1
Zillow
Z
$7.76B
$55.5M 12.17%
1,126,318
+573,047
+104% +$30.8M
META icon
2
Meta Platforms (Facebook)
META
$1.64T
$36.4M 7.97%
163,635
+9,479
+6% +$2.37M
DUOL icon
3
Duolingo
DUOL
$6.24B
$29.6M 6.48%
311,007
+87,353
+39% +$7.89M
ABNB icon
4
Airbnb
ABNB
$86.6B
$25.9M 5.68%
+151,006
New +$24.1M
FIVN icon
5
FIVE9
FIVN
$1.96B
$25.4M 5.57%
230,341
+117,394
+104% +$13.7M
PENN icon
6
PENN Entertainment
PENN
$2.75B
$24.7M 5.41%
581,910
-229,935
-28% -$10.5M
AMZN icon
7
Amazon
AMZN
$2.66T
$23.7M 5.2%
+145,500
New +$22.5M
WSM icon
8
Williams-Sonoma
WSM
$26.9B
$23.6M 5.17%
325,424
+56,436
+21% +$4.27M
XP icon
9
XP
XP
$8.61B
$22.4M 4.91%
743,686
+111,793
+18% +$3.49M
MELI icon
10
Mercado Libre
MELI
$92B
$21.9M 4.79%
+18,395
New +$20M
DOCU
11
DocuSign
DOCU
$10.1B
$21.5M 4.72%
200,928
+152,362
+314% +$17.5M
AFRM icon
12
Affirm
AFRM
$25.5B
$20.8M 4.56%
449,573
+134,022
+42% +$7.01M
SMAR
13
DELISTED
Smartsheet Inc.
SMAR
$20.8M 4.55%
379,129
-235,127
-38% -$13.4M
ACVA icon
14
ACV Auctions
ACVA
$1.3B
$17.5M 3.83%
1,179,498
-11,762
-1% -$164K
PLTR icon
15
Palantir
PLTR
$317B
$17.2M 3.77%
+1,252,339
New +$16.7M
MASI
16
DELISTED
Masimo
MASI
$16.9M 3.7%
+115,949
New +$22.3M
ONON icon
17
On Holding
ONON
$12.4B
$14.9M 3.26%
589,637
+466,039
+377% +$12.4M
SPOT icon
18
Spotify
SPOT
$98.3B
$13.7M 3.01%
+90,859
New +$15.5M
COOK icon
19
Traeger
COOK
$192M
$9.85M 2.16%
+26,483
New +$12.6M
RENT
20
Rent the Runway
RENT
$106M
$7.1M 1.56%
51,519
– –
DIBS icon
21
1stdibs.com
DIBS
$162M
$7.04M 1.54%
881,640
– –
AZUL
22
DELISTED
Azul
AZUL
– –
-972,603
Closed -$12.8M
CMRC
23
Commerce.com Inc Series 1
CMRC
$251M
– –
-471,161
Closed -$16.7M
NET icon
24
Cloudflare
NET
$98.6B
– –
-271,022
Closed -$35.6M
TWLO icon
25
Twilio
TWLO
$31.4B
– –
-65,681
Closed -$17.3M
1
2

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ThornTree Capital Partners's Q1 2022 Portfolio in Review

As of Q1 2022, ThornTree Capital Partners held 30 positions worth $456M, down 12% from $517M the previous quarter. Its ten largest holdings account for 63% of the portfolio.

ThornTree Capital Partners deployed $35.1M of net new capital in Q1 2022, opening 7 new positions and adding to 9 existing holdings. Its largest new stake was Airbnb: 151,006 shares worth $25.9M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 37% of assets, up from 24% a quarter earlier, followed by Technology and Communication Services.

On the sell side, the largest reduction was Smartsheet Inc., an estimated $13.4M trimmed.

  • ThornTree Capital Partners's largest Q1 2022 buy was Airbnb: 151,006 shares worth $25.9M.
  • ThornTree Capital Partners added most to Zillow in Q1 2022, an estimated $30.8M increase.
  • ThornTree Capital Partners's biggest Q1 2022 reduction was Smartsheet Inc., cutting an estimated $13.4M.
  • ThornTree Capital Partners fully exited Uber in Q1 2022, selling an estimated $39.9M.
  • ThornTree Capital Partners's ten largest holdings make up 63% of its $456M portfolio in Q1 2022.
  • ThornTree Capital Partners opened 7 new positions and closed 9 in Q1 2022.
  • ThornTree Capital Partners's portfolio value fell 12% quarter-over-quarter to $456M.

Based on ThornTree Capital Partners's 13F filing for Q1 2022, filed 16 May 2022.