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Thorntree Capital Partners LP
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.
Latest 13F Filing Activity
Thorntree Capital Partners LP filed their most recent 13F report on Jun 30, 2025 disclosing 17 equity positions with a total 13F market value of $601M. The fund increased holdings in Dicks Sporting Goods Inc., Ferguson Enterprises Inc., Ralph Lauren Corp. among other positions. Thorntree Capital Partners LP reduced exposure to Warner Bros Discovery Inc., United States Cellular Corp., Boot Barn HLDGS Inc. among others.
Top Holdings
Equity Positions (17)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
M META | META PLATFORMS INC | 9.37% | $56.3M | 76,272 | $190.89 | $738.09 | +$12.3M |
V VIK | VIKING HOLDINGS LTD | 6.97% | $41.9M | 785,860 | $33.55 | $53.29 | +$3.8M |
C CSGP | COSTAR GROUP INC | 6.86% | $41.2M | 512,507 | $73.64 | $80.40 | +$10.1M |
A AFRM | AFFIRM HLDGS INC | 6.80% | $40.9M | 591,076 | $29.83 | $69.14 | +$10.9M |
K KMX | CARMAX INC | 6.79% | $40.8M | 606,928 | $78.26 | $67.21 | +$4.2M |
Industry Allocation
Investment Team (6)
| Name | Role | Location | |
|---|---|---|---|
 | Principal and Founding Member | Miami, FL , United States | |
M Mark Moore | Managing Partner and CIO | Boston, MA , United States | |
 | Analyst | Naples, FL , United States | |
 | Investment Analyst | Boston, MA , United States | |
P Philip Giampietro | Partner | Boston, MA , United States | |
M Maria Julia Magalhaes | ThornTree Capital Partners LP | — |
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