ThornTree Capital Partners LP 13F holdings, Q3 2025
Holdings as of September 30, 2025 · filings on SEC EDGAR · latest filing →
ThornTree Capital Partners LP disclosed 18 US equity positions worth $653.4m in its Q3 2025 13F filing. The largest position was META at 8.6% of the reported book, followed by INTU and CIEN. Against the Q2 2025 filing, it opened 3 new positions, added to 5 and reduced 7 among the top 18 holdings.
What did ThornTree Capital Partners LP own in Q3 2025? Top 18 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q2 2025 |
|---|---|---|---|---|---|---|---|
| 1 | META META PLATFORMS INC | Communication Services | 8.6% | $56.0m | 76,272 | 0% | held |
| 2 | INTU INTUIT | Technology | 8.2% | $53.3m | 78,110 | 59% | added |
| 3 | CIEN CIENA CORP | Technology | 7.6% | $49.4m | 339,141 | -11% | reduced |
| 4 | NU NU HLDGS LTD | Financial Services | 6.7% | $43.6m | 2,724,091 | -3% | reduced |
| 5 | CSGP COSTAR GROUP INC | Real Estate | 6.6% | $43.0m | 510,201 | -0% | held |
| 6 | RKT ROCKET COS INC | Financial Services | 6.4% | $42.1m | 2,174,449 | – | new |
| 7 | VIK VIKING HOLDINGS LTD | Consumer Cyclical | 5.9% | $38.5m | 619,995 | -21% | reduced |
| 8 | RL RALPH LAUREN CORP | Consumer Cyclical | 5.7% | $37.1m | 118,290 | 1% | added |
| 9 | NFLX NETFLIX INC | Communication Services | 5.5% | $36.1m | 30,081 | 0% | held |
| 10 | 8QR CONFLUENT INC | 5.3% | $34.7m | 1,750,817 | 45% | added | |
| 11 | LLYVK LIBERTY MEDIA CORP DEL | 5.3% | $34.3m | 328,829 | -9% | reduced | |
| 12 | DKS DICKS SPORTING GOODS INC | Consumer Cyclical | 5.1% | $33.6m | 151,329 | -11% | reduced |
| 13 | GOOGL ALPHABET INC | Communication Services | 4.9% | $32.1m | 132,184 | – | new |
| 14 | AFRM AFFIRM HLDGS INC | Financial Services | 4.6% | $30.4m | 415,599 | -30% | reduced |
| 15 | MELI MERCADOLIBRE INC | Consumer Cyclical | 4.3% | $28.2m | 12,079 | 14% | added |
| 16 | ON HLDG AG | 3.8% | $24.5m | 579,034 | 54% | added | |
| 17 | TDS TELEPHONE & DATA SYS INC | Communication Services | 3.2% | $20.9m | 531,692 | – | new |
| 18 | FERG FERGUSON ENTERPRISES INC | Industrials | 2.3% | $15.3m | 68,344 | -54% | reduced |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.