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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
+14.15%
1 Year Est. Return
+36.37%
3 Year Est. Return
+206.07%
5 Year Est. Return
+135.57%
10 Year Est. Return
–
AUM
$421M
AUM Growth
+$18.2M
Cap. Flow
-$22.1M
Cap. Flow %
-5.25%
Top 10 Hldgs %
73.16%
Holding
22
New
4
Increased
7
Reduced
7
Closed
4

Top Buys

Rank Stock Value
1
ASO icon
Academy Sports + Outdoors
ASO
+$18.9M
2
FERG icon
Ferguson
FERG
+$18.5M
3
BC icon
Brunswick
BC
+$14M
4
NU icon
Nu Holdings
NU
+$9.47M
5
PYPL icon
PayPal
PYPL
+$8.94M

Top Sells

Rank Stock Value
1
TTWO icon
Take-Two Interactive
TTWO
+$24.6M
2
ADI icon
Analog Devices
ADI
+$21.3M
3
ONON icon
On Holding
ONON
+$19.6M
4
META icon
Meta Platforms (Facebook)
META
+$14.8M
5
GOOS
Canada Goose Holdings
GOOS
+$13.2M

Sector Composition

Rank Sector Weight
1 Communication Services 31.96%
2 Consumer Discretionary 30.35%
3 Financials 17.06%
4 Technology 15.78%
5 Industrials 4.86%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
META icon
1
Meta Platforms (Facebook)
META
$1.64T
$61.3M 14.58%
213,735
-60,145
-22% -$14.8M
NU icon
2
Nu Holdings
NU
$65.6B
$37.7M 8.97%
4,782,207
+1,540,664
+48% +$9.47M
PYPL icon
3
PayPal
PYPL
$49.9B
$34M 8.09%
510,067
+131,069
+35% +$8.94M
FWONK icon
4
Liberty Media Series C
FWONK
$25.6B
$29.7M 7.06%
408,196
+97,275
+31% +$6.92M
SPLK
5
DELISTED
Splunk Inc
SPLK
$28.7M 6.81%
270,154
+25,655
+10% +$2.44M
TCOM icon
6
Trip.com Group
TCOM
$26.7B
$28M 6.65%
799,020
+255,255
+47% +$8.88M
INTU icon
7
Intuit
INTU
$79.6B
$24.5M 5.83%
53,521
+12,605
+31% +$5.52M
NFLX icon
8
Netflix
NFLX
$290B
$23.9M 5.69%
543,340
-141,180
-21% -$5.2M
FERG icon
9
Ferguson
FERG
$45B
$20.4M 4.86%
+129,910
New +$18.5M
SIX
10
DELISTED
Six Flags Entertainment Corp.
SIX
$19.5M 4.63%
749,193
-120,149
-14% -$3.11M
MELI icon
11
Mercado Libre
MELI
$92B
$17.8M 4.23%
15,035
-5,718
-28% -$7.19M
ASO icon
12
Academy Sports + Outdoors
ASO
$3B
$17.8M 4.23%
+328,990
New +$18.9M
BC icon
13
Brunswick
BC
$5.23B
$14.8M 3.52%
+171,021
New +$14M
ACVA icon
14
ACV Auctions
ACVA
$1.3B
$14.4M 3.41%
831,360
-155,697
-16% -$2.38M
ONON icon
15
On Holding
ONON
$12.4B
$14.2M 3.37%
429,537
-643,988
-60% -$19.6M
BFAM icon
16
Bright Horizons
BFAM
$4.03B
$14M 3.34%
151,800
+39,039
+35% +$3.3M
DUOL icon
17
Duolingo
DUOL
$6.24B
$13.2M 3.14%
92,302
-24,204
-21% -$3.47M
FNKO icon
18
Funko
FNKO
$325M
$6.76M 1.61%
+625,155
New +$6.88M
ADI icon
19
Analog Devices
ADI
$183B
– –
-107,910
Closed -$21.3M
GOOS
20
Canada Goose Holdings
GOOS
$958M
– –
-686,582
Closed -$13.2M
RPD icon
21
Rapid7
RPD
$815M
– –
-238,791
Closed -$11M
TTWO icon
22
Take-Two Interactive
TTWO
$43.9B
– –
-205,865
Closed -$24.6M

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AHSW
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AAS
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KBG
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LC
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AMCA
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GWAG
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ThornTree Capital Partners's Q2 2023 Portfolio in Review

As of Q2 2023, ThornTree Capital Partners held 22 positions worth $421M, up 4.5% from $403M the previous quarter. Its ten largest holdings account for 73% of the portfolio.

ThornTree Capital Partners withdrew a net $22.1M in Q2 2023, closing 4 positions and reducing 7 holdings. Its most notable exit was Take-Two Interactive, an estimated $24.6M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 32% of assets, down from 38% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, ThornTree Capital Partners opened a new position in Academy Sports + Outdoors worth $17.8M.

  • ThornTree Capital Partners's largest Q2 2023 buy was Academy Sports + Outdoors: 328,990 shares worth $17.8M.
  • ThornTree Capital Partners added most to Nu Holdings in Q2 2023, an estimated $9.47M increase.
  • ThornTree Capital Partners's biggest Q2 2023 reduction was On Holding, cutting an estimated $19.6M.
  • ThornTree Capital Partners fully exited Take-Two Interactive in Q2 2023, selling an estimated $24.6M.
  • ThornTree Capital Partners's ten largest holdings make up 73% of its $421M portfolio in Q2 2023.
  • ThornTree Capital Partners opened 4 new positions and closed 4 in Q2 2023.
  • ThornTree Capital Partners's portfolio value rose 4.5% quarter-over-quarter to $421M.

Based on ThornTree Capital Partners's 13F filing for Q2 2023, filed 14 Aug 2023.