ThornTree Capital Partners LP: 13F holdings, Q2 2026
Hedge fund · SEC EDGAR filings (CIK 1688511) · Explore on the interactive board
ThornTree Capital Partners LP disclosed 19 US equity positions worth $731.3m in its Q2 2026 13F filing (holdings as of June 30, 2026, filed August 14, 2026). Its largest position is VIK at 8.8% of the reported book, followed by CIEN, NU. The top ten holdings are 73.8% of the book, and the portfolio behaves like about 15 equal-weight positions. Versus the prior filing it opened 5 new positions, added to 5, reduced 5 and exited 2. Note: this manager's most recent filing is 3934 quarters behind the newest quarter on file, so these figures are history rather than current positioning.
What does ThornTree Capital Partners LP own? Top holdings as of June 30, 2026
Change is measured in shares against the previous filing (Q1 2026), so price moves do not read as decisions. This quarter: 5 new, 5 added, 5 reduced, 2 exited.
| # | Stock | Sector | Weight | Value | Shares | Δ shares | Action |
|---|---|---|---|---|---|---|---|
| 1 | VIK VIKING HOLDINGS LTD | Consumer Cyclical | 8.8% | $64.5m | 616,700 | -9% | reduced |
| 2 | CIEN CIENA CORP | Technology | 8.7% | $63.9m | 130,272 | 0% | held |
| 3 | NU NU HLDGS LTD | Financial Services | 8.4% | $61.3m | 4,584,775 | 62% | added |
| 4 | LLYVK LIBERTY MEDIA CORP DEL | Communication Services | 7.9% | $57.5m | 604,763 | 18% | added |
| 5 | AXP AMERICAN EXPRESS CO | Financial Services | 7.7% | $56.4m | 166,784 | – | new |
| 6 | ADI ANALOG DEVICES INC | Technology | 7.6% | $55.5m | 139,751 | 120% | added |
| 7 | RL RALPH LAUREN CORP | Consumer Cyclical | 7.4% | $54.4m | 135,557 | 15% | added |
| 8 | AFRM AFFIRM HLDGS INC | Financial Services | 6.3% | $46.4m | 568,524 | -32% | reduced |
| 9 | META META PLATFORMS INC | Communication Services | 5.9% | $43.0m | 76,272 | 0% | held |
| 10 | MTZ MASTEC INC | Industrials | 5.0% | $36.5m | 87,828 | -22% | reduced |
| 11 | SHOP SHOPIFY INC | Technology | 4.8% | $35.1m | 307,137 | 45% | added |
| 12 | NTRA NATERA INC | Healthcare | 4.3% | $31.5m | 116,021 | – | new |
| 13 | INTU INTUIT | Technology | 3.5% | $25.7m | 98,636 | -25% | reduced |
| 14 | ON HLDG AG | 3.2% | $23.7m | 668,771 | -44% | reduced | |
| 15 | NFLX NETFLIX INC. | Communication Services | 2.9% | $21.5m | 300,810 | 0% | held |
| 16 | LION LIONSGATE STUDIOS CORP | 2.6% | $19.1m | 1,246,584 | – | new | |
| 17 | MELI MERCADOLIBRE INC | Consumer Cyclical | 2.5% | $18.1m | 10,642 | 0% | held |
| 18 | RRR RED ROCK RESORTS INC | Consumer Cyclical | 2.1% | $15.5m | 237,896 | – | new |
| 19 | SPY STATE STR SPDR S&P 500 ETF T | 0.2% | $1.8m | 2,401 | – | new |
What did ThornTree Capital Partners LP sell? Positions exited since the previous filing
| Stock | Prior weight | Prior value |
|---|---|---|
| VEEV VEEVA SYS INC | 56.6% | $17.1m |
| GOOGL ALPHABET INC | 43.4% | $13.1m |
Sector mix
| Sector | Weight |
|---|---|
| Technology | 24.6% |
| Financial Services | 22.4% |
| Consumer Cyclical | 20.9% |
| Communication Services | 16.7% |
| Industrials | 5.0% |
| Healthcare | 4.3% |
Sectors cover positions whose ticker resolved to a sector; the remainder is unclassified, not cash.
Filing history
How concentrated is ThornTree Capital Partners LP's portfolio?
Across every quarter ThornTree Capital Partners LP has filed, its median largest position is 9.4% of the book and its median top-ten weight is 76.0%, which WhaleCreep classifies as concentrated (the gate is a median largest position of 5%). Of 2.0 completed holding spells, the median lasted 1.0 quarters; 19.0 positions are still open and their final length is unknown.