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ThornTree Capital Partners LP — 13F Holdings & Portfolio

CIK 1688511 · latest 13F-HR filed 2026-08-14

Backtest portfolio

ThornTree Capital Partners LP manages $731.3M in 13F-reported U.S. long-equity assets across 19 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are VIK (8.83%), CIEN (8.74%), NU (8.38%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 5 new positions and exited 2; 8 existing positions rose in reported value and 3 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

Loading holdings…
AUM
$731.3M

Long-equity book

Holdings
19

Distinct positions

Period
2026-06-30

Filed 2026-08-14

Q/Q Activity
+5 / −2 / ↑8 / ↓3

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
VIK8.8% · -9%CIEN8.7% · 0%NU8.4% · +62%FWONK7.9% · +18%AXP7.7% · newADI7.6% · +120%RL7.4% · +15%AFRM6.3% · -32%META5.9% · 0%MTZ5.0% · -22%SHOP4.8% · +45%NTRA4.3% · newINTU3.5% · -25%ONON3.2% · -44%NFLX2.9% · 0%LION2.6% · newMELI2.5% · 0%RRR2.1% · newSPY0.2% · new

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 73.8%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Jul 8, 2026.

Assets Under Management
$955.3M
Discretionary
$955.3M
Employees
8
Accounts
6
Address
800 BOYLSTON STREET,
SUITE 1520
BOSTON, MA 02199-8182
Phone
(617) 443-2080
Website
Name Title / Status Ownership Type
Giampietro, Philip, Andrew ControlCHIEF COMPLIANCE OFFICER & SENIOR PARTNER
since Jun 2026
25–50%Individual
MOORE, MARK, CHRISTOPHER ControlCHIEF INVESTMENT OFFICER / LIMITED PARTNER
since Nov 2015
50–75%Individual
THE MARK C. MOORE 2012 IRREVOCABLE FAMILY TRUST ControlLIMITED PARTNER
since Jan 2015
25–50%Domestic Entity
THORNTREE CAPITAL PARTNERS LLC ControlGENERAL PARTNER
since Nov 2015
Less than 5%Domestic Entity
NAUGHTON, AMY, BETH Control
Indirect owner via THE MARK C. MOORE 2012 IRREVOCABLE FAMILY TRUST
TRUSTEE
since Nov 2015
25–50%Individual
Ownership & leadership changes · 7 filings with changes since Apr 20, 2016

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Jul 8, 2026 filing
  • No longer listedMOORE, MARK, CHRISTOPHER · MEMBER · 50–75% · indirect via THORNTREE CAPITAL PARTNERS LLC · control person · listed since Nov 2015
  • No longer listedNAUGHTON, AMY, BETH · TRUSTEE - THE MARK C. MOORE 2012 IRREVOCABLE FAMILY TRUST · 25–50% · control person · listed since Nov 2015
  • No longer listedSCOLLINS, EDWARD, JAY · CHIEF COMPLIANCE OFFICER & CHIEF FINANCIAL OFFICER · Less than 5% · control person · listed since Mar 2023
  • No longer listedTHE MARK C. MOORE 2012 IRREVOCABLE FAMILY TRUST · MEMBER · 25–50% · indirect via THORNTREE CAPITAL PARTNERS LLC · control person · listed since Nov 2015
  • AddedGiampietro, Philip, Andrew · CHIEF COMPLIANCE OFFICER & SENIOR PARTNER · 25–50% · control person
  • ChangedNAUGHTON, AMY, BETH · indirect via THE MARK C. MOORE 2012 IRREVOCABLE FAMILY TRUST: ownership General partner, trustee or manager → 25–50%
Mar 31, 2023 filing
  • No longer listedKOSKINAS, GREG, STEPHAN · CHIEF OPERATING OFFICER & CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Mar 2020
  • AddedSCOLLINS, EDWARD, JAY · CHIEF COMPLIANCE OFFICER & CHIEF FINANCIAL OFFICER · Less than 5% · control person
Mar 26, 2021 filing
  • No longer listedULLER, KELLY, MULLIGAN · CHIEF FINANCIAL OFFICER · Less than 5% · control person · listed since Aug 2017
Mar 26, 2020 filing
  • ChangedKOSKINAS, GREG, STEPHAN · title HEAD OF TRADING AND OPERATIONS → CHIEF OPERATING OFFICER & CHIEF COMPLIANCE OFFICER
  • ChangedULLER, KELLY, MULLIGAN · title CHIEF FINANCIAL OFFICER & CHIEF COMPLIANCE OFFICER → CHIEF FINANCIAL OFFICER
Mar 26, 2019 filing
  • No longer listedSONG, SOYOUN, KIM · MANAGING DIRECTOR · Less than 5% · control person · listed since Aug 2017
Dec 10, 2018 filing
  • AddedKOSKINAS, GREG, STEPHAN · HEAD OF TRADING AND OPERATIONS · Less than 5% · control person
  • AddedULLER, KELLY, MULLIGAN · CHIEF FINANCIAL OFFICER & CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • ChangedSONG, SOYOUN, KIM · title MANAGING DIRECTOR / CHIEF COMPLIANCE OFFICER → MANAGING DIRECTOR
Aug 21, 2017 filing
  • No longer listedCAPELA, ANTHONY, EMANUEL · CHIEF FINANCIAL OFFICER / CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Jan 2016
  • AddedSONG, SOYOUN, KIM · MANAGING DIRECTOR / CHIEF COMPLIANCE OFFICER · Less than 5% · control person
Apr 20, 2016 filing (earliest on record)
  • ListedCAPELA, ANTHONY, EMANUEL · CHIEF FINANCIAL OFFICER / CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • ListedMOORE, MARK, CHRISTOPHER · CHIEF INVESTMENT OFFICER / LIMITED PARTNER · 50–75% · control person
  • ListedMOORE, MARK, CHRISTOPHER · MEMBER · 50–75% · indirect via THORNTREE CAPITAL PARTNERS LLC · control person
  • ListedNAUGHTON, AMY, BETH · TRUSTEE - THE MARK C. MOORE 2012 IRREVOCABLE FAMILY TRUST · 25–50% · control person
  • ListedNAUGHTON, AMY, BETH · TRUSTEE · General partner, trustee or manager · indirect via THE MARK C. MOORE 2012 IRREVOCABLE FAMILY TRUST · control person
  • ListedTHE MARK C. MOORE 2012 IRREVOCABLE FAMILY TRUST · LIMITED PARTNER · 25–50% · control person
  • ListedTHE MARK C. MOORE 2012 IRREVOCABLE FAMILY TRUST · MEMBER · 25–50% · indirect via THORNTREE CAPITAL PARTNERS LLC · control person
  • ListedTHORNTREE CAPITAL PARTNERS LLC · GENERAL PARTNER · Less than 5% · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Top Adds (vs prior quarter)

Show all 8 →

Top Trims

Show all 3 →

New Positions

Show all 5 →

Exited Positions

Show all 2 →

ThornTree Capital Partners LP Holdings (2026-06-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 VIKING HOLDINGS LTD VIK G93A5A101 $64.5M 8.83% 616,700 SH
2 CIENA CORP CIEN 171779309 $63.9M 8.74% 130,272 SH
3 NU HLDGS LTD NU G6683N103 $61.3M 8.38% 4,584,775 SH
4 LIBERTY MEDIA CORP DEL FWONK 531229755 $57.5M 7.87% 604,763 SH
5 AMERICAN EXPRESS CO AXP 025816109 $56.4M 7.71% 166,784 SH
6 ANALOG DEVICES INC ADI 032654105 $55.5M 7.59% 139,751 SH
7 RALPH LAUREN CORP RL 751212101 $54.4M 7.44% 135,557 SH
8 AFFIRM HLDGS INC AFRM 00827B106 $46.4M 6.34% 568,524 SH
9 META PLATFORMS INC META 30303M102 $43.0M 5.87% 76,272 SH
10 MASTEC INC MTZ 576323109 $36.5M 5.00% 87,828 SH
11 SHOPIFY INC SHOP 82509L107 $35.1M 4.80% 307,137 SH
12 NATERA INC NTRA 632307104 $31.5M 4.31% 116,021 SH
13 INTUIT INTU 461202103 $25.7M 3.52% 98,636 SH
14 ON HLDG AG ONON H5919C104 $23.7M 3.24% 668,771 SH
15 NETFLIX INC. NFLX 64110L106 $21.5M 2.94% 300,810 SH
16 LIONSGATE STUDIOS CORP LION 53626N102 $19.1M 2.61% 1,246,584 SH
17 MERCADOLIBRE INC MELI 58733R102 $18.1M 2.47% 10,642 SH
18 RED ROCK RESORTS INC RRR 75700L108 $15.5M 2.12% 237,896 SH
19 STATE STR SPDR S&P 500 ETF T SPY 78462F103 $1.8M 0.25% 2,401 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-14 $731.3M 19 0001172661-26-003754
2026-03-31 2026-05-15 $563.5M 16 0001172661-26-002253
2025-12-31 2026-02-17 $597.9M 15 0001172661-26-001146
2025-09-30 2025-11-14 $653.4M 18 0001172661-25-005051
Filer Information
Address
800 BOYLSTON STREET
SUITE 1520
BOSTON, MA 02199-8182
Phone
(617) 443-2080
Filing Manager
ThornTree Capital Partners LP
Boston, MA
Signatory
Philip Giampietro
Chief Compliance Officer and Senior Partner