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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
+7.63%
1 Year Est. Return
+36.37%
3 Year Est. Return
+206.07%
5 Year Est. Return
+135.57%
10 Year Est. Return
–
AUM
$382M
AUM Growth
-$38.4M
Cap. Flow
-$41.7M
Cap. Flow %
-10.9%
Top 10 Hldgs %
75.51%
Holding
20
New
2
Increased
5
Reduced
8
Closed
2

Top Buys

Rank Stock Value
1
FERG icon
Ferguson
FERG
+$12.8M
2
AD
Array Digital Infrastructure
AD
+$11.6M
3
MELI icon
Mercado Libre
MELI
+$5.66M
4
ACVA icon
ACV Auctions
ACVA
+$4.61M
5
ONON icon
On Holding
ONON
+$1.2M

Top Sells

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$24M
2
ASO icon
Academy Sports + Outdoors
ASO
+$17.8M
3
TCOM icon
Trip.com Group
TCOM
+$8.37M
4
SIX
Six Flags Entertainment Corp.
SIX
+$6.95M
5
FNKO icon
Funko
FNKO
+$6.76M

Sector Composition

Rank Sector Weight
1 Communication Services 27.81%
2 Consumer Discretionary 25.78%
3 Technology 21.84%
4 Financials 15.5%
5 Industrials 9.07%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPLK
1
DELISTED
Splunk Inc
SPLK
$40.8M 10.68%
279,202
+9,048
+3% +$1.02M
META icon
2
Meta Platforms (Facebook)
META
$1.64T
$40.2M 10.52%
133,958
-79,777
-37% -$24M
FERG icon
3
Ferguson
FERG
$45B
$34.7M 9.07%
210,866
+80,956
+62% +$12.8M
NU icon
4
Nu Holdings
NU
$65.6B
$31.7M 8.28%
4,368,703
-413,504
-9% -$3.09M
PYPL icon
5
PayPal
PYPL
$49.9B
$27.6M 7.22%
472,006
-38,061
-7% -$2.48M
INTU icon
6
Intuit
INTU
$79.6B
$27.3M 7.15%
53,521
– –
MELI icon
7
Mercado Libre
MELI
$92B
$24.7M 6.46%
19,482
+4,447
+30% +$5.66M
FWONK icon
8
Liberty Media Series C
FWONK
$25.6B
$24.6M 6.43%
394,663
-13,533
-3% -$929K
TCOM icon
9
Trip.com Group
TCOM
$26.7B
$20.2M 5.27%
576,501
-222,519
-28% -$8.37M
ACVA icon
10
ACV Auctions
ACVA
$1.3B
$16.9M 4.43%
1,115,273
+283,913
+34% +$4.61M
AD
11
Array Digital Infrastructure
AD
$3.03B
$15.4M 4.04%
+359,290
New +$11.6M
DUOL icon
12
Duolingo
DUOL
$6.24B
$15.3M 4%
92,302
– –
NFLX icon
13
Netflix
NFLX
$290B
$14.9M 3.88%
393,340
-150,000
-28% -$6.36M
BC icon
14
Brunswick
BC
$5.23B
$13.5M 3.53%
171,021
– –
ONON icon
15
On Holding
ONON
$12.4B
$13M 3.4%
467,561
+38,024
+9% +$1.2M
SIX
16
DELISTED
Six Flags Entertainment Corp.
SIX
$10.7M 2.8%
455,257
-293,936
-39% -$6.95M
BFAM icon
17
Bright Horizons
BFAM
$4.03B
$10.3M 2.68%
125,841
-25,959
-17% -$2.4M
LLYVK icon
18
Liberty Live Group Series C
LLYVK
$9.45B
$542K 0.14%
+16,891
New +$559K
ASO icon
19
Academy Sports + Outdoors
ASO
$3B
– –
-328,990
Closed -$17.8M
FNKO icon
20
Funko
FNKO
$325M
– –
-625,155
Closed -$6.76M

Similar funds

PSC
Patient Square Capital Menlo Park, California $564M AUM 261.3% 1-Year Est. Return
KF
KKM Financial Chicago, Illinois $563M AUM 28.2% 1-Year Est. Return
AHSW
Adventist Health System West Roseville, California $564M AUM 17.1% 1-Year Est. Return
AAS
Asset Allocation Strategies Farmington, Michigan $563M AUM 15.65% 1-Year Est. Return
KBG
Kahn Brothers Group New York $564M AUM 25.3% 1-Year Est. Return
LC
Lavaca Capital Houston, Texas $564M AUM 4.6% 1-Year Est. Return
AMCA
Arthur M. Cohen & Associates Northbrook, Illinois $563M AUM 20.97% 1-Year Est. Return
GWAG
Garrett Wealth Advisory Group Weatherford, Texas $562M AUM 16.6% 1-Year Est. Return

ThornTree Capital Partners's Q3 2023 Portfolio in Review

As of Q3 2023, ThornTree Capital Partners held 20 positions worth $382M, down 9.1% from $421M the previous quarter. Its ten largest holdings account for 76% of the portfolio.

ThornTree Capital Partners withdrew a net $41.7M in Q3 2023, closing 2 positions and reducing 8 holdings. Its most notable exit was Academy Sports + Outdoors, an estimated $17.8M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 28% of assets, down from 32% a quarter earlier, followed by Consumer Discretionary and Technology.

Against the trend, ThornTree Capital Partners opened a new position in Array Digital Infrastructure worth $15.4M.

  • ThornTree Capital Partners's largest Q3 2023 buy was Array Digital Infrastructure: 359,290 shares worth $15.4M.
  • ThornTree Capital Partners added most to Ferguson in Q3 2023, an estimated $12.8M increase.
  • ThornTree Capital Partners's biggest Q3 2023 reduction was Meta Platforms (Facebook), cutting an estimated $24M.
  • ThornTree Capital Partners fully exited Academy Sports + Outdoors in Q3 2023, selling an estimated $17.8M.
  • ThornTree Capital Partners's ten largest holdings make up 76% of its $382M portfolio in Q3 2023.
  • ThornTree Capital Partners opened 2 new positions and closed 2 in Q3 2023.
  • ThornTree Capital Partners's portfolio value fell 9.1% quarter-over-quarter to $382M.

Based on ThornTree Capital Partners's 13F filing for Q3 2023, filed 14 Nov 2023.