2026 Q2 Portfolio Activity
In 2026 Q2, ThornTree Capital Partners LP maintained a portfolio of 21 distinct positions. The most significant new addition was AMERICAN EXPRESS CO, now representing 7.71% of the total fund value. They heavily accumulated shares in ANALOG DEVICES INC, increasing the position by 119.6%. The fund also reduced its exposure to INTUIT by 24.8%.
Position History
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Total Positions
21
Quarter
2026 Q2
Top Holding
VIK (8.8%)
Top 10 Concentration
73.8%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-21 of 21
ThornTree Capital Partners LP Full Holdings List — 2026 Q2
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
VIK
VIKING HOLDINGS...
|
Consumer Cyclical | 8.83% | 8.83% |
#1
2
Prev: #3
|
6.0 |
—
|
-60,387 | -8.9% |
P
S
|
616,700 | $64,549,989 | 2024 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CIEN
CIENA CORP
|
Technology | 8.74% | 8.97% |
#2
Prev: #2
|
6.0 |
—
|
no change | no change |
P
S
|
130,272 | $63,906,232 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
NU
NU HLDGS LTD
|
Financial Services | 8.38% | 7.21% |
#3
4
Prev: #7
|
7.4 |
—
|
1,757,331 | 62.2% |
P
S
|
4,584,775 | $61,252,594 | 2023 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
FWONK
LIBERTY MEDIA C...
|
Communication Services | 7.87% | 7.75% |
#4
Prev: #4
|
5.6 |
—
|
91,273 | 17.8% |
P
S
|
604,763 | $57,537,152 | 2023 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
AXP
AMERICAN EXPRES...
|
Financial Services | 7.71% | — |
#5
Prev: #—
|
7.1 |
—
|
166,784 | — |
NEW
|
166,784 | $56,414,688 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ADI
ANALOG DEVICES ...
|
Technology | 7.59% | 3.59% |
#6
7
Prev: #13
|
6.0 |
—
|
76,099 | 119.6% |
P
S
|
139,751 | $55,504,905 | 2023 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
RL
RALPH LAUREN CO...
|
Consumer Cyclical | 7.44% | 7.17% |
#7
1
Prev: #8
|
5.0 |
—
|
18,017 | 15.3% |
P
S
|
135,557 | $54,413,935 | 2025 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
AFRM
AFFIRM HLDGS IN...
|
Financial Services | 6.34% | 6.78% |
#8
1
Prev: #9
|
2.5 |
—
|
-265,765 | -31.9% |
P
S
|
568,524 | $46,363,132 | 2021 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
META
META PLATFORMS ...
|
Communication Services | 5.87% | 7.74% |
#9
4
Prev: #5
|
3.3 |
—
|
no change | no change |
P
S
|
76,272 | $42,963,255 | 2018 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
MTZ
MASTEC INC
|
Industrials | 5.00% | 6.44% |
#10
Prev: #10
|
2.0 |
—
|
-24,913 | -22.1% |
P
S
|
87,828 | $36,541,718 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
SHOP
SHOPIFY INC
|
Technology | 4.80% | 4.46% |
#11
1
Prev: #12
|
4.4 |
—
|
95,342 | 45.0% |
P
S
|
307,137 | $35,068,903 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
NTRA
NATERA INC
|
Healthcare | 4.31% | — |
#12
Prev: #—
|
5.2 |
—
|
116,021 | — |
NEW
|
116,021 | $31,493,900 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
INTU
INTUIT
|
Technology | 3.52% | 10.06% |
#13
12
Prev: #1
|
1.4 |
—
|
-32,537 | -24.8% |
P
S
|
98,636 | $25,743,996 | 2022 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ONON
ON HLDG AG
|
Consumer Cyclical | 3.24% | 7.23% |
#14
8
Prev: #6
|
1.3 |
—
|
-528,567 | -44.1% |
P
S
|
668,771 | $23,687,869 | 2021 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
NFLX
NETFLIX INC.
|
Communication Services | 2.94% | 5.13% |
#15
4
Prev: #11
|
2.2 |
—
|
no change | no change |
P
S
|
300,810 | $21,477,834 | 2022 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
LION
LIONSGATE STUDI...
|
Unknown | 2.61% | — |
#16
Prev: #—
|
4.5 |
—
|
1,246,584 | — |
NEW
|
1,246,584 | $19,085,201 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
MELI
MERCADOLIBRE IN...
|
Consumer Cyclical | 2.47% | 3.27% |
#17
3
Prev: #14
|
2.0 |
—
|
no change | no change |
P
S
|
10,642 | $18,063,624 | 2022 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
RRR
RED ROCK RESORT...
|
Consumer Cyclical | 2.12% | — |
#18
Prev: #—
|
4.3 |
—
|
237,896 | — |
NEW
|
237,896 | $15,477,514 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
SPY
STATE STR SPDR ...
|
ETF | 0.25% | — |
#19
Prev: #—
|
3.6 |
—
|
2,401 | — |
NEW
|
2,401 | $1,792,995 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
GOOGL
ALPHABET INC
|
Communication Services | 0.00% | 2.33% |
Sold All 😨
(Was: #16) |
0.0 |
—
|
-45,628 | -100.0% |
CLOSED
|
— | $— | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
VEEV
VEEVA SYS INC
|
Healthcare | 0.00% | 3.03% |
Sold All 😨
(Was: #15) |
0.0 |
—
|
-97,238 | -100.0% |
CLOSED
|
— | $— | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 |
Showing 1-21 of 21 holdings