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ThornTree Capital Partners LP

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13F filer, CIK 1688511, Boston, MA

ThornTree Capital Partners LP reported $653,360,070 across 18 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 66.41% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-25-005051

Period
2025-09-30
Reported value
$653M
Holdings
18
Top 10 weight
66.41%
New
3
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
RKTnew+2,174,449$42.1M
GOOGLnew+132,184$32.1M
TDSnew+531,692$20.9M
INTUadded+29,021$19.8M
CFLTadded+543,184$10.8M

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
KMXexited-606,928-$40.8M
FERGreduced-80,137-$18M
TSLAexited-55,941-$17.8M
AFRMreduced-175,477-$12.8M
VIKreduced-165,865-$10.3M

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, Q3 2025

Share positions as resolved from 13F-HR 0001172661-25-005051, largest first. % of portfolio is the value over $653,360,070, 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; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 95,442 shares; 2024Q4: 89,856 shares; 2025Q1: 76,272 shares; 2025Q2: 76,272 shares; 2025Q3: 76,272 shares 76,272$56M8.57%0Timeline
INTUINTUITQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 56,543 shares; 2025Q2: 49,089 shares; 2025Q3: 78,110 shares 78,110$53.3M8.16%+29,021Timeline
CIENCIENA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 600,309 shares; 2024Q4: 611,992 shares; 2025Q1: 433,489 shares; 2025Q2: 378,962 shares; 2025Q3: 339,141 shares 339,141$49.4M7.56%-39,821Timeline
NUNU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 2,724,091 shares 2,724,091$43.6M6.68%-88,344Timeline
CSGPCOSTAR GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 463,350 shares; 2025Q1: 393,198 shares; 2025Q2: 512,507 shares; 2025Q3: 510,201 shares 510,201$43M6.59%-2,306Timeline
RKTROCKET COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 2,174,449 shares 2,174,449$42.1M6.45%newTimeline
VIKVIKING HOLDINGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,086,322 shares; 2024Q4: 977,208 shares; 2025Q1: 959,057 shares; 2025Q2: 785,860 shares; 2025Q3: 619,995 shares 619,995$38.5M5.9%-165,865Timeline
RLRALPH LAUREN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 58,706 shares; 2025Q2: 117,470 shares; 2025Q3: 118,290 shares 118,290$37.1M5.68%+820Timeline
NFLXNETFLIX INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 54,305 shares; 2024Q4: 54,305 shares; 2025Q1: 30,081 shares; 2025Q2: 30,081 shares; 2025Q3: 30,081 shares 30,081$36.1M5.52%0Timeline
CFLTCONFLUENT INC-CLASS AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,059,340 shares; 2025Q2: 1,207,633 shares; 2025Q3: 1,750,817 shares 1,750,817$34.7M5.31%+543,184Timeline
FWONKLIBERTY MEDIA CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 433,988 shares; 2024Q4: 432,447 shares; 2025Q1: 305,386 shares; 2025Q2: 360,379 shares; 2025Q3: 328,829 shares 328,829$34.3M5.26%-31,550Timeline
DKSDICKS SPORTING GOODS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 170,731 shares; 2025Q3: 151,329 shares 151,329$33.6M5.15%-19,402Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 132,184 shares 132,184$32.1M4.92%newTimeline
AFRMAFFIRM HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 716,715 shares; 2024Q4: 674,081 shares; 2025Q1: 662,841 shares; 2025Q2: 591,076 shares; 2025Q3: 415,599 shares 415,599$30.4M4.65%-175,477Timeline
MELIMERCADOLIBRE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 18,758 shares; 2024Q4: 18,758 shares; 2025Q1: 10,642 shares; 2025Q2: 10,642 shares; 2025Q3: 12,079 shares 12,079$28.2M4.32%+1,437Timeline
ONONON HLDG AGQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 441,444 shares; 2024Q4: 584,162 shares; 2025Q1: 450,282 shares; 2025Q2: 376,178 shares; 2025Q3: 579,034 shares 579,034$24.5M3.75%+202,856Timeline
TDSTELEPHONE & DATA SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 531,692 shares 531,692$20.9M3.19%newTimeline
FERGFERGUSON ENTERPRISES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 67,692 shares; 2024Q4: 158,711 shares; 2025Q1: 74,667 shares; 2025Q2: 148,481 shares; 2025Q3: 68,344 shares 68,344$15.3M2.35%-80,137Timeline

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
KMXCARMAX INC606,928$40.8Mshares
TSLATESLA INC55,941$17.8Mshares

How Q3 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 0001172661-25-005051 base2025-11-14acceptance time not in the bulk data set