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ThornTree Capital Partners LP

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13F filer, CIK 1688511, Boston, MA

ThornTree Capital Partners LP reported $600,646,333 across 17 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14. Its ten largest share positions make up 68.26% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-25-003503

Period
2025-06-30
Reported value
$601M
Holdings
17
Top 10 weight
68.26%
New
2
Sold out
4

Largest buys vs the previous quarter

SecurityShares changeApprox. value
DKSnew+170,731$33.8M
TSLAnew+55,941$17.8M
RLadded+58,764$16.1M
FERGadded+73,814$16.1M
CSGPadded+119,309$9.59M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
WBDexited-1,792,720-$19.2M
ADexited-200,366-$13.9M
VIKreduced-173,197-$9.23M
INTUreduced-7,454-$5.87M
BOOTexited-50,000-$5.37M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001172661-25-003503, largest first. % of portfolio is the value over $600,646,333, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 95,442 shares; 2024Q4: 89,856 shares; 2025Q1: 76,272 shares; 2025Q2: 76,272 shares 76,272$56.3M9.37%0Timeline
VIKVIKING HOLDINGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,086,322 shares; 2024Q4: 977,208 shares; 2025Q1: 959,057 shares; 2025Q2: 785,860 shares 785,860$41.9M6.97%-173,197Timeline
CSGPCOSTAR GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 463,350 shares; 2025Q1: 393,198 shares; 2025Q2: 512,507 shares 512,507$41.2M6.86%+119,309Timeline
AFRMAFFIRM HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 716,715 shares; 2024Q4: 674,081 shares; 2025Q1: 662,841 shares; 2025Q2: 591,076 shares 591,076$40.9M6.8%-71,765Timeline
KMXCARMAX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 435,568 shares; 2025Q1: 470,068 shares; 2025Q2: 606,928 shares 606,928$40.8M6.79%+136,860Timeline
NFLXNETFLIX INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 54,305 shares; 2024Q4: 54,305 shares; 2025Q1: 30,081 shares; 2025Q2: 30,081 shares 30,081$40.3M6.71%0Timeline
INTUINTUITQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 56,543 shares; 2025Q2: 49,089 shares 49,089$38.7M6.44%-7,454Timeline
NUNU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,036,703 shares; 2024Q4: 3,497,960 shares; 2025Q1: 2,620,248 shares; 2025Q2: 2,812,435 shares 2,812,435$38.6M6.42%+192,187Timeline
FWONKLIBERTY MEDIA CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 433,988 shares; 2024Q4: 432,447 shares; 2025Q1: 305,386 shares; 2025Q2: 360,379 shares 360,379$37.7M6.27%+54,993Timeline
DKSDICKS SPORTING GOODS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 170,731 shares 170,731$33.8M5.62%newTimeline
FERGFERGUSON ENTERPRISES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 67,692 shares; 2024Q4: 158,711 shares; 2025Q1: 74,667 shares; 2025Q2: 148,481 shares 148,481$32.3M5.38%+73,814Timeline
RLRALPH LAUREN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 58,706 shares; 2025Q2: 117,470 shares 117,470$32.2M5.36%+58,764Timeline
CIENCIENA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 600,309 shares; 2024Q4: 611,992 shares; 2025Q1: 433,489 shares; 2025Q2: 378,962 shares 378,962$30.8M5.13%-54,527Timeline
CFLTCONFLUENT INC-CLASS AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,059,340 shares; 2025Q2: 1,207,633 shares 1,207,633$30.1M5.01%+148,293Timeline
MELIMERCADOLIBRE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 18,758 shares; 2024Q4: 18,758 shares; 2025Q1: 10,642 shares; 2025Q2: 10,642 shares 10,642$27.8M4.63%0Timeline
ONONON HLDG AGQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 441,444 shares; 2024Q4: 584,162 shares; 2025Q1: 450,282 shares; 2025Q2: 376,178 shares 376,178$19.6M3.26%-74,104Timeline
TSLATESLA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 55,941 shares 55,941$17.8M2.96%newTimeline

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
WBDWARNER BROS DISCOVERY INC1,792,720$19.2Mshares
ADARRAY DIGITAL INFRASTRUCTURE200,366$13.9Mshares
BOOTBOOT BARN HLDGS INC50,000$5.37Mshares
LLYVKLIBERTY MEDIA CORP DEL16,891$1.15Mshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001172661-25-003503 base2025-08-14acceptance time not in the bulk data set