ThornTree Capital Partners LP

CIK

1688511

Location

Boston, MA

Portfolio Value

Small $731,339,428

Diversification

Diversified

Filing Date

Global Rank

#2,304 / 8,633 ▲ 227

Top Industry

Credit Services 14.5%

3Y Alpha vs SPY

+21.3%

Period ended 51 days ago

Filed Aug 14, 2026 · 6d

26 quarters · since Mar 2020

Clone Performance

Aug 2023–Aug 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+188.1%

SPY

+76.2%

Annualised alpha

+21.5%

Max drawdown

−26.2%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. Returns use comparable raw closes and exclude dividends; a captured split can shorten the simulated window. It tracks 95% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

19 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

8.8%

−1.2 pts

Top 5

41.5%

−1.8 pts

Top 10

73.8%

−4.4 pts

HHI

649

Diversified−58

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Technology	24.6%	$180,224,034	4
Consumer Cyclical	24.1%	$176,192,929	5
Financial Services	22.4%	$164,030,414	3
Communication Services	16.7%	$121,978,239	3
Industrials	5.0%	$36,541,717	1
Healthcare	4.3%	$31,493,900	1
Unclassified	2.9%	$20,878,195	2

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

5 positions

Ticker	Company	Δ Shares	Shares	Value
NU	Nu Holdings Ltd.	+1,757,331	4,584,775	$61,252,594
SHOP	Shopify Inc.	+95,342	307,137	$35,068,902
FWONA	Liberty Media Corp	+91,273	604,763	$57,537,151
ADI	Analog Devices Inc	+76,099	139,751	$55,504,904
RL	Ralph Lauren Corp	+18,017	135,557	$54,413,935
No positions match the current search.

Trimmed

Positions the filer reduced

5 positions

Ticker	Company	Δ Shares	Shares	Value
ONON	On Holding AG	−528,567	668,771	$23,687,868
AFRM	Affirm Holdings, Inc.	−265,765	568,524	$46,363,132
VIK	Viking Holdings Ltd	−60,387	616,700	$64,549,989
INTU	Intuit Inc.	−32,537	98,636	$25,743,996
MTZ	Mastec Inc	−24,913	87,828	$36,541,717
No positions match the current search.

New Positions

Positions the filer opened this quarter

5 positions

Ticker	Company	Shares	Value
AXP	American Express Co	166,784	$56,414,688
NTRA	Natera, Inc.	116,021	$31,493,900
LION	Lionsgate Studios Corp.	1,246,584	$19,085,201
RRR	Red Rock Resorts, Inc.	237,896	$15,477,513
SPY	Spdr S&P 500 ETF Trust	2,401	$1,792,994
No positions match the current search.

Sold Out

Positions the filer fully exited

2 positions

Ticker	Company	Shares	Value
VEEV	Veeva Systems Inc	97,238	$17,080,827
GOOGL	Alphabet Inc.	45,628	$13,120,787
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

19 tracked positions · $731,339,428 total · filing declares 19 positions · $731,339,436 · as of Jun 30, 2026

All sectors Communication Services Consumer Cyclical Financial Services Healthcare Industrials Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
VIK	Viking Holdings Ltd Consumer Cyclical	Reduced	616,700	-60,387	$64,549,989	+29.7%	8.83%
CIEN	Ciena Corp Technology	Held	130,272	0	$63,906,232	+26.4%	8.74%
NU	Nu Holdings Ltd. Financial Services	Added	4,584,775	+1,757,331	$61,252,594	+50.8%	8.38%
FWONA	Liberty Media Corp Communication Services	Added	604,763	+91,273	$57,537,151	+31.8%	7.87%
AXP	American Express Co Financial Services	NEW	166,784	NEW	$56,414,688	NEW	7.71%
ADI	Analog Devices Inc Technology	Added	139,751	+76,099	$55,504,904	+174.1%	7.59%
RL	Ralph Lauren Corp Consumer Cyclical	Added	135,557	+18,017	$54,413,935	+34.6%	7.44%
AFRM	Affirm Holdings, Inc. Financial Services	Reduced	568,524	-265,765	$46,363,132	+21.3%	6.34%
META	Meta Platforms, Inc. Communication Services	Held	76,272	0	$42,963,254	−1.5%	5.87%
MTZ	Mastec Inc Industrials	Reduced	87,828	-24,913	$36,541,717	+0.7%	5.00%
SHOP	Shopify Inc. Technology	Added	307,137	+95,342	$35,068,902	+39.6%	4.80%
NTRA	Natera, Inc. Healthcare	NEW	116,021	NEW	$31,493,900	NEW	4.31%
INTU	Intuit Inc. Technology	Reduced	98,636	-32,537	$25,743,996	−54.6%	3.52%
ONON	On Holding AG Consumer Cyclical	Reduced	668,771	-528,567	$23,687,868	−41.8%	3.24%
NFLX	Netflix Inc Communication Services	Held	300,810	0	$21,477,834	−25.7%	2.94%
LION	Lionsgate Studios Corp.	NEW	1,246,584	NEW	$19,085,201	NEW	2.61%
MELI	Mercadolibre Inc Consumer Cyclical	Held	10,642	0	$18,063,624	−1.8%	2.47%
RRR	Red Rock Resorts, Inc. Consumer Cyclical	NEW	237,896	NEW	$15,477,513	NEW	2.12%
SPY	Spdr S&P 500 ETF Trust	NEW	2,401	NEW	$1,792,994	NEW	0.25%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.