ThornTree Capital Partners LP In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), ThornTree Capital Partners LP reported 17 stock positions worth $479.1 million . Its top holding was Meta Platforms Class A (META) at 11.4% of the portfolio, followed by Nu Holdings Ltd./Cayman Isl-A (NU, 8.7% ) and Netflix (NFLX, 8.0% ). Compared with Q2 2024, it opened 1 new position, sold out of 5, added to 2 and reduced 11. The biggest buy was a new position in Ciena (CIEN) and the biggest sale an exit from Intuit (INTU).
Location Boston, MA
CIK 0001688511
Portfolio Value $479.1M (Q3 2024) Holdings 17 stocks · $479.1M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q2 2024 META Meta Platforms Inc. Class A 95,442 $54.6M Reduce -6.9% NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 3,036,703 $41.5M Reduce -14.9% NFLX Netflix Inc. 54,305 $38.5M Reduce -8.0% MELI MercadoLibre Inc. 18,758 $38.5M Reduce -16.7% VIK Viking Holdings Ltd. 1,086,322 $37.9M Add +21.4% CIEN Ciena Corp. 600,309 $37.0M New FWONK Liberty Media Corp. Class C 433,988 $33.6M Reduce -26.0% AFRM Affirm Holdings Inc. 716,715 $29.3M Reduce -20.2% PYPL PayPal Holdings Inc. 373,594 $29.2M Reduce -21.3% DUOL Duolingo 85,532 $24.1M No change SGRY Surgery Partners Inc. 736,999 $23.8M Reduce -26.3% ONON On Holding AG Class A filed as ON HLDG AG 441,444 $22.1M No change AD Array Digital Infrastructure filed as UNITED STATES CELLULAR CORP 403,971 $22.1M Reduce -32.4% ACVA Acv Auctions Inc. Class A 817,865 $16.6M Add +26.0% BOOT Boot Barn Holdings Inc. 95,919 $16.0M Reduce -63.2% FERG Ferguson Enterprises Inc. 67,692 $13.4M Reduce -46.8% LLYVK Liberty Media Corp.-Liberty-C 16,891 $867K No change
Options reported separately and not counted above: META puts ($31.5M), DUOL puts ($24.0M), ONON puts ($22.1M), MELI puts ($15.4M), FLUT calls ($11.9M), NU puts ($10.2M), NFLX puts ($7.1M).
Portfolio Sells Q2 2024 → Q3 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2024 % Of Portfolio Change To Portfolio ▲ INTU Intuit Inc. Sold out 0.00% −4.92 TKO Tko Group Holdings Inc. Sold out 0.00% −4.60 CFLT Confluent Inc. Class A Sold out 0.00% −4.31 TCOM Trip.com Group Ltd.-ADR Sold out 0.00% −3.88 BURL Burlington Stores Inc. Sold out 0.00% −3.13 BOOT Boot Barn Holdings Inc. Reduce -63.2% 3.35% −2.38 FERG Ferguson Enterprises Inc. Reduce -46.8% 2.81% −1.39 AD Array Digital Infrastructure Reduce -32.4% 4.61% −1.07 FWONK Liberty Media Corp. Class C Reduce -26.0% 7.01% −0.17 NU Nu Holdings Ltd./Cayman Isl-A Reduce -14.9% 8.65% +0.82 SGRY Surgery Partners Inc. Reduce -26.3% 4.96% +0.91 NFLX Netflix Inc. Reduce -8.0% 8.04% +1.25 PYPL PayPal Holdings Inc. Reduce -21.3% 6.09% +1.39 AFRM Affirm Holdings Inc. Reduce -20.2% 6.11% +1.49 MELI MercadoLibre Inc. Reduce -16.7% 8.03% +1.73 META Meta Platforms Inc. Class A Reduce -6.9% 11.40% +2.60
Portfolio Buys Q2 2024 → Q3 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2024 % Of Portfolio Change To Portfolio ▼ CIEN Ciena Corp. New 7.72% +7.72 VIK Viking Holdings Ltd. Add +21.4% 7.91% +2.74 ACVA Acv Auctions Inc. Class A Add +26.0% 3.47% +1.45
Options Activity Q2 2024 → Q3 2024 Security Type Change vs Q2 2024 Underlying Shares Value ▼ META Meta Platforms Inc. Class A put New 55,000 $31.5M DUOL Duolingo put New 85,000 $24.0M ONON On Holding AG Class A put New 440,000 $22.1M MELI MercadoLibre Inc. put New 7,500 $15.4M FLUT Flutter Entertainment PLC-Di call New 50,000 $11.9M NU Nu Holdings Ltd./Cayman Isl-A put New 750,000 $10.2M NFLX Netflix Inc. put New 10,000 $7.1M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 19 $731.3M VIK, CIEN, NU, FWONK, AXP Q1 2026 16 $563.5M INTU, CIEN, VIK, FWONK, META Q4 2025 15 $597.9M INTU, AFRM, META, GOOGL, VIK Q3 2025 18 $653.4M META, INTU, CIEN, NU, CSGP Q2 2025 17 $600.6M META, VIK, CSGP, AFRM, KMX Q1 2025 19 $453.0M META, VIK, KMX, INTU, CSGP Q4 2024 19 $596.1M META, CIEN, NFLX, VIK, AFRM Q3 2024 17 $479.1M META, NU, NFLX, MELI, VIK Q2 2024 21 $586.9M META, NU, FWONK, NFLX, MELI Q1 2024 20 $592.8M META, PYPL, NU, NFLX, DOCU