ThornTree Capital Partners LP Quant / Systematic

Name: ThornTree Capital Partners LP Q1 2026 13F Filing | 13F Explorer
Creator: ThornTree Capital Partners LP
Published: 2026-05-15

Location: Boston, MA

CIK: 0001688511 · Show all filings

Period: Q1 2026 (← Previous)

Filing Date: May 15, 2026

Total Value: $564M (100.0% shares, 0.0% debt)

Holdings (16)

New Positions (4)

MTZ MASTEC INC 6.4%

Value $36.27M Shares 112,741 Est. Cost — Unrealized —

SHOP SHOPIFY INC 4.5%

Value $25.12M Shares 211,795 Est. Cost — Unrealized —

ADI ANALOG DEVICES INC 3.6%

Value $20.25M Shares 63,652 Est. Cost — Unrealized —

VEEV VEEVA SYS INC 3.0%

Value $17.08M Shares 97,238 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MTZ	MASTEC INC	112,741	$36.27M	6.4%	—	—	COM	576323109
SHOP	SHOPIFY INC	211,795	$25.12M	4.5%	—	—	CL A SUB VTG SHS	82509L107
ADI	ANALOG DEVICES INC	63,652	$20.25M	3.6%	—	—	COM	032654105
VEEV	VEEVA SYS INC	97,238	$17.08M	3.0%	—	—	CL A COM	922475108

Increased Positions (7)

AFRM AFFIRM HLDGS INC 6.8%

Value $38.23M (-33.1%) Shares 834,289 (+8.7%) Est. Cost — Unrealized —

FWONK LIBERTY MEDIA CORP DEL 7.7%

Value $43.66M (+34.8%) Shares 513,490 (+56.2%) Est. Cost — Unrealized —

VIK VIKING HOLDINGS LTD 8.8%

Value $49.75M (+12.4%) Shares 677,087 (+9.2%) Est. Cost — Unrealized —

INTU INTUIT 10.1%

Value $56.72M (-4.1%) Shares 131,173 (+46.9%) Est. Cost — Unrealized —

NU NU HLDGS LTD 7.2%

Value $40.63M (+3.7%) Shares 2,827,444 (+20.8%) Est. Cost — Unrealized —

RL RALPH LAUREN CORP 7.2%

Value $40.43M (+2.0%) Shares 117,540 (+4.9%) Est. Cost — Unrealized —

ONON ON HLDG AG 7.2%

Value $40.73M (+1.7%) Shares 1,197,338 (+38.9%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AFRM	AFFIRM HLDGS INC	834,289 (+8.7%)	$38.23M (-33.1%)	6.8%	—	—	COM CL A	00827B106
FWONK	LIBERTY MEDIA CORP DEL	513,490 (+56.2%)	$43.66M (+34.8%)	7.7%	—	—	COM LBTY ONE S C	531229755
VIK	VIKING HOLDINGS LTD	677,087 (+9.2%)	$49.75M (+12.4%)	8.8%	—	—	ORD SHS	G93A5A101
INTU	INTUIT	131,173 (+46.9%)	$56.72M (-4.1%)	10.1%	—	—	COM	461202103
NU	NU HLDGS LTD	2,827,444 (+20.8%)	$40.63M (+3.7%)	7.2%	—	—	ORD SHS CL A	G6683N103
RL	RALPH LAUREN CORP	117,540 (+4.9%)	$40.43M (+2.0%)	7.2%	—	—	CL A	751212101
ONON	ON HLDG AG	1,197,338 (+38.9%)	$40.73M (+1.7%)	7.2%	—	—	NAMEN AKT A	H5919C104

Exited Positions (3)

RKT ROCKET COS INC 7.7%

Value $43.2M Shares 2,231,659 Est. Cost — Unrealized —

DUOL DUOLINGO INC 5.8%

Value $32.44M Shares 184,867 Est. Cost — Unrealized —

CSGP COSTAR GROUP INC 2.9%

Value $16.27M Shares 242,032 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
RKT	ROCKET COS INC	2,231,659	$43.2M	7.7%	—	—	—	77311W101
DUOL	DUOLINGO INC	184,867	$32.44M	5.8%	—	—	—	26603R106
CSGP	COSTAR GROUP INC	242,032	$16.27M	2.9%	—	—	—	22160N109

Decreased Positions (3)

GOOGL ALPHABET INC 2.3%

Value $13.12M (-71.4%) Shares 45,628 (-68.9%) Est. Cost — Unrealized —

MELI MERCADOLIBRE INC 3.3%

Value $18.4M (-33.9%) Shares 10,642 (-23.0%) Est. Cost — Unrealized —

CIEN CIENA CORP 9.0%

Value $50.58M (+21.0%) Shares 130,272 (-27.1%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	45,628 (-68.9%)	$13.12M (-71.4%)	2.3%	—	—	CAP STK CL A	02079K305
MELI	MERCADOLIBRE INC	10,642 (-23.0%)	$18.4M (-33.9%)	3.3%	—	—	COM	58733R102
CIEN	CIENA CORP	130,272 (-27.1%)	$50.58M (+21.0%)	9.0%	—	—	COM NEW	171779309

Unchanged Positions (2)

META META PLATFORMS INC 7.7%

Value $43.64M Shares 76,272 Est. Cost — Unrealized —

NFLX NETFLIX INC. 5.1%

Value $28.92M Shares 300,810 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
META	META PLATFORMS INC	76,272	$43.64M	7.7%	—	—	CL A	30303M102
NFLX	NETFLIX INC.	300,810	$28.92M	5.1%	—	—	COM	64110L106