ThornTree Capital Partners LP: AFFIRM HLDGS INC (AFRM): Quarterly 13F Position History
As of Q1 2026, ThornTree Capital Partners LP reported 834,289 shares of AFFIRM HLDGS INC (AFRM), worth $38.2M and representing 6.8% of its 13F equity book. Quarter-over-quarter share count change: + 66,535 (+8.7%) . The position first appeared in Q1 2021 and has been disclosed across 21 13F-HR filings in Pactolio's tracked window.
- 834,289Shares Held (Latest Filing)
- $38.2MReported Market Value (Latest Filing)
- 6.8%Portfolio Weight (% of 13F Equity Book)
- +66,535Quarter-over-Quarter Share Change
- -$18.9MQuarter-over-Quarter Value Change
- 897,848Peak Reported Shares (Historical)
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 21 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q1 2026 | 834,289 | +66,535 | +8.7% | $38.2M | 6.8% | $45.8 |
| Q4 2025 | 767,754 | +352,155 | +84.7% | $57.1M | 9.6% | $74.4 |
| Q3 2025 | 415,599 | 175,477 | -29.7% | $30.4M | 4.6% | $73.1 |
| Q2 2025 | 591,076 | 71,765 | -10.8% | $40.9M | 6.8% | $69.1 |
| Q1 2025 | 662,841 | 11,240 | -1.7% | $30.0M | 6.6% | $45.2 |
| Q4 2024 | 674,081 | 42,634 | -5.9% | $41.1M | 6.9% | $60.9 |
| Q3 2024 | 716,715 | 181,133 | -20.2% | $29.3M | 6.1% | $40.8 |
| Q2 2024 | 897,848 | +897,848 | — | $27.1M | 4.6% | $30.2 |
| Q1 2024 | 0 | 0 | — | $0 | 0.0% | — |
| Q4 2023 | 0 | 0 | — | $0 | 0.0% | — |
| Q3 2023 | 0 | 0 | — | $0 | 0.0% | — |
| Q2 2023 | 0 | 0 | — | $0 | 0.0% | — |
| Q1 2023 | 0 | 0 | — | $0 | 0.0% | — |
| Q4 2022 | 0 | 417,962 | -100.0% | $0 | 0.0% | — |
| Q3 2022 | 417,962 | 17,598 | -4.0% | $7.8M | 2.7% | $18.8 |
| Q2 2022 | 435,560 | 14,013 | -3.1% | $7.9M | 3.1% | $18.1 |
| Q1 2022 | 449,573 | +134,022 | +42.5% | $20.8M | 4.6% | $46.3 |
| Q4 2021 | 315,551 | 232,308 | -42.4% | $31.7M | 6.1% | $100.6 |
| Q3 2021 | 547,859 | 68,012 | -11.0% | $65.3M | 10.5% | $119.1 |
| Q2 2021 | 615,871 | 142,187 | -18.8% | $41.5M | 6.4% | $67.4 |
| Q1 2021 | 758,058 | — | — | $53.6M | 7.6% | $70.7 |
Methodology & FAQ
How This Position History Is Sourced
Each row is one SEC Form 13F-HR filing disclosing this position. Share count, market value, and reported quarter are taken verbatim from the filing; portfolio weight is recomputed against the same filing's total reported equity book. Implied price-per-share is market value divided by shares — a quarter-end mark, not the manager's cost basis. See the full methodology document for the normalization rules.
When did ThornTree Capital Partners LP first disclose a AFRM position in 13F-HR filings?
ThornTree Capital Partners LP first reported AFFIRM HLDGS INC (AFRM) on its 13F-HR filing for the period ending 2021-03-31 (Q1 2021). The position has appeared on 21 reported quarters within Pactolio's tracked window.
What was ThornTree Capital Partners LP's most recent quarter-over-quarter share-count change in AFRM?
Between Q4 2025 and Q1 2026, ThornTree Capital Partners LP added 66,535 shares of AFRM (+8.7%), bringing the total reported position to 834,289 shares at a market value of $38.2M.
Does the implied price-per-share represent ThornTree Capital Partners LP's cost basis in AFRM?
No. The implied price-per-share column is the 13F-HR reported market value divided by reported share count on the filing date (end of quarter). It is a quarter-end mark, not a cost basis or transaction price. Use it as a sanity check on the value column, not as an indicator of the manager's entry or exit price.