ThornTree Capital Partners LP: ON HLDG AG (ONON): Quarterly 13F Position History
As of Q1 2026, ThornTree Capital Partners LP reported 1,197,338 shares of ON HLDG AG (ONON), worth $40.7M and representing 7.2% of its 13F equity book. Quarter-over-quarter share count change: + 335,328 (+38.9%) . The position first appeared in Q4 2021 and has been disclosed across 18 13F-HR filings in Pactolio's tracked window.
- 1,197,338Shares Held (Latest Filing)
- $40.7MReported Market Value (Latest Filing)
- 7.2%Portfolio Weight (% of 13F Equity Book)
- +335,328Quarter-over-Quarter Share Change
- +$667.2KQuarter-over-Quarter Value Change
- 1,197,338Peak Reported Shares (Historical)
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 18 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q1 2026 | 1,197,338 | +335,328 | +38.9% | $40.7M | 7.2% | $34.0 |
| Q4 2025 | 862,010 | +282,976 | +48.9% | $40.1M | 6.7% | $46.5 |
| Q3 2025 | 579,034 | +202,856 | +53.9% | $24.5M | 3.8% | $42.4 |
| Q2 2025 | 376,178 | 74,104 | -16.5% | $19.6M | 3.3% | $52.0 |
| Q1 2025 | 450,282 | 133,880 | -22.9% | $19.8M | 4.4% | $43.9 |
| Q4 2024 | 584,162 | +142,718 | +32.3% | $32.0M | 5.4% | $54.8 |
| Q3 2024 | 441,444 | 0 | — | $22.1M | 4.6% | $50.1 |
| Q2 2024 | 441,444 | 0 | — | $17.1M | 2.9% | $38.8 |
| Q1 2024 | 441,444 | 219,616 | -33.2% | $15.6M | 2.6% | $35.4 |
| Q4 2023 | 661,060 | +193,499 | +41.4% | $17.8M | 3.6% | $27.0 |
| Q3 2023 | 467,561 | +38,024 | +8.9% | $13.0M | 3.4% | $27.8 |
| Q2 2023 | 429,537 | 643,988 | -60.0% | $14.2M | 3.4% | $33.0 |
| Q1 2023 | 1,073,525 | +2,350 | +0.2% | $33.3M | 8.3% | $31.0 |
| Q4 2022 | 1,071,175 | +160,162 | +17.6% | $18.4M | 6.0% | $17.2 |
| Q3 2022 | 911,013 | +599,057 | +192.0% | $14.6M | 5.0% | $16.1 |
| Q2 2022 | 311,956 | 277,681 | -47.1% | $5.5M | 2.2% | $17.7 |
| Q1 2022 | 589,637 | +466,039 | +377.1% | $14.9M | 3.3% | $25.2 |
| Q4 2021 | 123,598 | — | — | $4.7M | 0.9% | $37.8 |
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 ONON position in 13F-HR filings?
ThornTree Capital Partners LP first reported ON HLDG AG (ONON) on its 13F-HR filing for the period ending 2021-12-31 (Q4 2021). The position has appeared on 18 reported quarters within Pactolio's tracked window.
What was ThornTree Capital Partners LP's most recent quarter-over-quarter share-count change in ONON?
Between Q4 2025 and Q1 2026, ThornTree Capital Partners LP added 335,328 shares of ONON (+38.9%), bringing the total reported position to 1,197,338 shares at a market value of $40.7M.
Does the implied price-per-share represent ThornTree Capital Partners LP's cost basis in ONON?
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.