Institutional
ThornTree Capital Partners LP
CIK 0001688511
$563.5M
Reported AUM
16
Positions
Q1 2026
Period
2026-05-15
Filed
The Brief · ThornTree Capital Partners LP · Q1 2026
AI · grounded in 13F
ThornTree Capital Partners LP exited its position in RKT, reducing exposure by $43.2M. The fund also closed positions in DUOL and CSGP, while trimming shares of GOOGL by 68.9%. To offset these sales, the fund established new positions in MTZ for $36.3M, SHOP for $25.1M, and ADI for $20.3M.
Portfolio · Q1 2026
Top holdings
QoQ vs Q4 2025
| # | Stock | Issuer | Price | Day % | 1Y Gr. | 5Y Gr. | Value | % of book | Δ shares (QoQ) | Status |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | INTU | INTUIT | $296.76 | -1.73% | -61.23% | -42.11% | $56.7M | 10.06% | +41,871 | +46.9% |
| 2 | CIEN | CIENA CORP | $488.21 | -8.85% | 571.36% | 739.71% | $50.6M | 8.97% | −48,385 | −27.1% |
| 3 | VIK | VIKING HOLDINGS LTD | $89.94 | -0.06% | 84.34% | 186.34% | $49.8M | 8.83% | +57,092 | +9.2% |
| 4 | FWONK | LIBERTY MEDIA CORP DEL | $87.45 | -0.26% | -11.42% | 93.24% | $43.7M | 7.75% | +184,661 | +56.2% |
| 5 | META | META PLATFORMS INC | $593.00 | -5.51% | -14.74% | 67.74% | $43.6M | 7.74% | — | HELD |
| 6 | ONON | ON HLDG AG | $37.08 | -1.04% | -34.44% | 8.55% | $40.7M | 7.23% | +335,328 | +38.9% |
| 7 | NU | NU HLDGS LTD | $11.97 | -1.24% | -1.48% | 61.32% | $40.6M | 7.21% | +486,670 | +20.8% |
| 8 | RL | RALPH LAUREN CORP | $371.93 | 1.47% | 34.95% | 256.22% | $40.4M | 7.17% | +5,488 | +4.9% |
| 9 | AFRM | AFFIRM HLDGS INC | $63.61 | -7.41% | 7.96% | 12.94% | $38.2M | 6.78% | +66,535 | +8.7% |
| 10 | MTZ | MASTEC INC | $363.89 | -2.89% | 122.29% | 259.47% | $36.3M | 6.44% | +112,741 | NEW |
| 11 | NFLX | NETFLIX INC. | $82.18 | 0.76% | -33.80% | 58.78% | $28.9M | 5.13% | — | HELD |
| 12 | SHOP | SHOPIFY INC | $109.54 | -5.60% | -1.68% | -26.97% | $25.1M | 4.46% | +211,795 | NEW |
| 13 | ADI | ANALOG DEVICES INC | $401.39 | -6.38% | 83.85% | 160.94% | $20.3M | 3.59% | +63,652 | NEW |
| 14 | MELI | MERCADOLIBRE INC | $1607.80 | -1.65% | -35.23% | 2.49% | $18.4M | 3.27% | −3,184 | −23.0% |
| 15 | VEEV | VEEVA SYS INC | $172.61 | -3.35% | -39.51% | -48.12% | $17.1M | 3.03% | +97,238 | NEW |
| 16 | GOOGL | ALPHABET INC | $368.53 | -0.98% | 112.92% | 175.80% | $13.1M | 2.33% | −101,197 | −68.9% |
| 17 | RKT | ROCKET COS INC | $12.65 | -4.38% | -0.94% | -16.53% | — | — | −2,231,659 | EXITED |
| 18 | DUOL | DUOLINGO INC | $109.03 | -0.11% | -78.74% | -15.85% | — | — | −184,867 | EXITED |
| 19 | CSGP | COSTAR GROUP INC | $33.89 | 0.68% | -56.84% | -61.86% | — | — | −242,032 | EXITED |
Source: SEC EDGAR · accession 0001172661-26-002253. 13F discloses long positions only — shorts, foreign equities, and options are excluded.