ThornTree Capital Partners LP: NU HOLDINGS LTD (NU): Quarterly 13F Position History
As of Q1 2026, ThornTree Capital Partners LP reported 2,827,444 shares of NU HOLDINGS LTD (NU), worth $40.6M and representing 7.2% of its 13F equity book. Quarter-over-quarter share count change: + 486,670 (+20.8%) . The position first appeared in Q1 2023 and has been disclosed across 13 13F-HR filings in Pactolio's tracked window.
- 2,827,444Shares Held (Latest Filing)
- $40.6MReported Market Value (Latest Filing)
- 7.2%Portfolio Weight (% of 13F Equity Book)
- +486,670Quarter-over-Quarter Share Change
- +$1.4MQuarter-over-Quarter Value Change
- 4,782,207Peak Reported Shares (Historical)
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 13 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q1 2026 | 2,827,444 | +486,670 | +20.8% | $40.6M | 7.2% | $14.4 |
| Q4 2025 | 2,340,774 | 383,317 | -14.1% | $39.2M | 6.6% | $16.7 |
| Q3 2025 | 2,724,091 | 88,344 | -3.1% | $43.6M | 6.7% | $16.0 |
| Q2 2025 | 2,812,435 | +192,187 | +7.3% | $38.6M | 6.4% | $13.7 |
| Q1 2025 | 2,620,248 | 877,712 | -25.1% | $26.8M | 5.9% | $10.2 |
| Q4 2024 | 3,497,960 | +461,257 | +15.2% | $36.2M | 6.1% | $10.4 |
| Q3 2024 | 3,036,703 | 529,902 | -14.9% | $41.5M | 8.7% | $13.7 |
| Q2 2024 | 3,566,605 | 376,177 | -9.5% | $46.0M | 7.8% | $12.9 |
| Q1 2024 | 3,942,782 | 320,946 | -7.5% | $47.0M | 7.9% | $11.9 |
| Q4 2023 | 4,263,728 | 104,975 | -2.4% | $35.5M | 7.2% | $8.3 |
| Q3 2023 | 4,368,703 | 413,504 | -8.6% | $31.7M | 8.3% | $7.3 |
| Q2 2023 | 4,782,207 | +1,540,664 | +47.5% | $37.7M | 9.0% | $7.9 |
| Q1 2023 | 3,241,543 | — | — | $15.4M | 3.8% | $4.8 |
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 NU position in 13F-HR filings?
ThornTree Capital Partners LP first reported NU HOLDINGS LTD (NU) on its 13F-HR filing for the period ending 2023-03-31 (Q1 2023). The position has appeared on 13 reported quarters within Pactolio's tracked window.
What was ThornTree Capital Partners LP's most recent quarter-over-quarter share-count change in NU?
Between Q4 2025 and Q1 2026, ThornTree Capital Partners LP added 486,670 shares of NU (+20.8%), bringing the total reported position to 2,827,444 shares at a market value of $40.6M.
Does the implied price-per-share represent ThornTree Capital Partners LP's cost basis in NU?
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.