ThornTree Capital Partners LP

Q3 2025 13F-HR Holdings

Location
Boston, MA
Holdings as of
9/30/2025
Date filed
11/14/2025
Form type
13F-HR
Num holdings
18
Total value ($000)
$653,360
Net value change ($000)
+52,714 (8.8%)
New positions
3
Sold out positions
2
Turnover %
23.5%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/14/2025 Next filing: 2/17/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
RKT 42,141 NEW
GOOGL 32,134 NEW
TDSPRU 20,864 NEW
CIEN 18,582 60.3%
INTU 14,678 38.0%
NU 5,026 13.0%
ONON 4,942 25.2%
RL 4,871 15.1%
CFLT 4,560 15.1%
CSGP 1,840 4.5%
Top Reduces (Value $000, Stocks/ETFs)
KMX -40,792 -100.0%
TSLA -17,770 -100.0%
FERG -16,983 -52.5%
AFRM -10,495 -25.7%
NFLX -4,217 -10.5%
VIK -3,339 -8.0%
FWONA -3,314 -8.8%
META -283 -0.5%
DKS -144 -0.4%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type