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Thorntree Capital Partners LP

CIK:0001688511
Hedge Fund
$1B AUM
17 holdings
Boston, MA, United States
Founded:2016
10 employees
thorntreecap.com
Latest filing:Jun 30, 2025

ThornTree Capital Partners LP is a hedge fund manager headquartered in Boston, Massachusetts. Founded as a limited partnership and registered in Delaware, the firm manages proprietary pooled investment vehicles primarily for institutional clients and high-net-worth individuals. As of 2025, the firm oversees between $246M and $1.1B in assets under management and employs between 8 and 10 staff, with a significant proportion in investment roles. The firm is led by Mark Christopher Moore (Chief Investment Officer, Limited Partner) and Anthony Emanuel Capela (CFO/CCO).

Investment Strategy

ThornTree Capital Partners LP operates as a fundamentally driven hedge fund, concentrating on public equities. The firm takes a discretionary, long/short investment approach, constructing concentrated portfolios with both long and short positions in U.S. and international equities. The selection process relies on deep research to identify misvalued securities, and the fund tends to hold high conviction positions, as evidenced by significant weights in a small number of top equity holdings. Portfolio changes are actively managed based on market conditions and individual security analysis.

Top Buys
D
DKSDICKS SPORTING GOODS INC
+$33.8M
F
FERGFERGUSON ENTERPRISES INC
+$20.4M
R
RLRALPH LAUREN CORP
+$19.3M
T
TSLATESLA INC
+$17.8M
M
METAMETA PLATFORMS INC
+$12.3M
Top Sells
W
WBDWARNER BROS DISCOVERY INC
-$19.2M
U
USMUNITED STATES CELLULAR CORP
-$13.9M
B
BOOTBOOT BARN HLDGS INC
-$5.4M
C
CFLTCONFLUENT INC
+$5.3M
C
CIENCIENA CORP
+$4.6M

Top Holdings

M
METAMETA PLATFORMS INC
+9.4%$56.3M
V
VIKVIKING HOLDINGS LTD
+7.0%$41.9M
C
CSGPCOSTAR GROUP INC
+6.9%$41.2M
A
AFRMAFFIRM HLDGS INC
+6.8%$40.9M
K
KMXCARMAX INC
+6.8%$40.8M

Equity Positions (17)

TickerSecurityWeightMarket ValueSharesAvg CostPriceChange (QoQ)
M
META
META PLATFORMS INC9.37%$56.3M76,272$190.89$738.09+$12.3M
V
VIK
VIKING HOLDINGS LTD6.97%$41.9M785,860$33.55$53.29+$3.8M
C
CSGP
COSTAR GROUP INC6.86%$41.2M512,507$73.64$80.40+$10.1M
A
AFRM
AFFIRM HLDGS INC6.80%$40.9M591,076$29.83$69.14+$10.9M
K
KMX
CARMAX INC6.79%$40.8M606,928$78.26$67.21+$4.2M

Industry Allocation

SERVICES-BUSINESS SERVICES, NEC
+11.5%
SERVICES-PREPACKAGED SOFTWARE
+11.4%
WHOLESALE-HARDWARE & PLUMBING & HEATING EQUIPMENT & SUPPLIES
+10.8%
SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC.
+9.4%
WATER TRANSPORTATION
+7.0%

Investment Team (6)

NameRoleLocationLinkedIn
Alexander C.
Alexander C.		Principal and Founding MemberMiami, FL , United States
M
Mark Moore		Managing Partner and CIOBoston, MA , United States
Nicholas Kordonowy
Nicholas Kordonowy		AnalystNaples, FL , United States
Nick Sertl
Nick Sertl		Investment AnalystBoston, MA , United States
P
Philip Giampietro		PartnerBoston, MA , United States
M
Maria Julia Magalhaes		ThornTree Capital Partners LP—