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Torno Capital Portfolio holdings

AUM $3.47B
1-Year Est. Return 37.88%
This Fund
S&P 500
This Quarter Est. Return
+2.84%
1 Year Est. Return
+37.88%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$950M
AUM Growth
+$563M
Cap. Flow
+$154M
Cap. Flow %
16.24%
Top 10 Hldgs %
81.59%
Holding
111
New
36
Increased
13
Reduced
13
Closed
48

Top Buys

Rank Stock Value
1
KWEB icon
KraneShares CSI China Internet ETF
KWEB
+$162M
2
GOOG icon
Alphabet (Google) Class C
GOOG
+$46.6M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$13.1M
4
PEP icon
PepsiCo
PEP
+$4.04M
5
ELV icon
Elevance Health
ELV
+$4.02M

Top Sells

Rank Stock Value
1
DLTR icon
Dollar Tree
DLTR
+$39.8M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$23.7M
3
BOXX icon
Alpha Architect 1-3 Month Box ETF
BOXX
+$8.59M
4
RH icon
RH
RH
+$2.34M
5
IBIT icon
iShares Bitcoin Trust
IBIT
+$1.26M

Sector Composition

Rank Sector Weight
1 Miscellaneous 91.83%
2 Communication Services 7.24%
3 Consumer Staples 0.42%
4 Healthcare 0.41%
5 Consumer Discretionary 0.09%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KWEB icon
1
PUT
KraneShares CSI China Internet ETF
KWEB
$4.89B
$214M 22.5%
+6,225,200
New +$206M
KWEB icon
2
KraneShares CSI China Internet ETF
KWEB
$4.89B
$168M 17.69%
+4,894,750
New +$162M
PEP icon
3
CALL
PepsiCo
PEP
$189B
$90.7M 9.55%
687,000
+681,000
+11,350% +$91.7M
GOOG icon
4
Alphabet (Google) Class C
GOOG
$4.1T
$68.7M 7.24%
387,500
+282,050
+267% +$46.6M
TQQQ icon
5
PUT
ProShares UltraPro QQQ
TQQQ
$35.8B
$53.2M 5.61%
1,283,000
+23,200
+2% +$734K
GOOGL icon
6
PUT
Alphabet (Google) Class A
GOOGL
$4.14T
$51.1M 5.38%
+290,000
New +$47.5M
ELV icon
7
PUT
Elevance Health
ELV
$87.2B
$36.5M 3.85%
+93,900
New +$37.8M
XLE icon
8
PUT
State Street Energy Select Sector SPDR ETF
XLE
$42.6B
$33.1M 3.48%
+780,000
New +$32.5M
ELV icon
9
CALL
Elevance Health
ELV
$87.2B
$30.3M 3.19%
+78,000
New +$31.4M
SOXL icon
10
PUT
Direxion Daily Semiconductor Bull 3X ETF
SOXL
$21.2B
$29.3M 3.09%
1,168,100
-671,100
-36% -$10.8M
TSLA icon
11
CALL
Tesla
TSLA
$1.45T
$28.2M 2.97%
+88,900
New +$26.8M
KWEB icon
12
CALL
KraneShares CSI China Internet ETF
KWEB
$4.89B
$20.6M 2.17%
+600,000
New +$19.9M
SNOW icon
13
CALL
Snowflake
SNOW
$116B
$16.8M 1.77%
75,000
+52,900
+239% +$9.56M
SPY icon
14
State Street SPDR S&P 500 ETF Trust
SPY
$810B
$14.2M 1.5%
+23,000
New +$13.1M
SPOT icon
15
CALL
Spotify
SPOT
$109B
$14M 1.48%
+18,300
New +$11.7M
ISRG icon
16
CALL
Intuitive Surgical
ISRG
$124B
$10.3M 1.09%
+19,000
New +$9.93M
SOXX icon
17
CALL
iShares Semiconductor ETF
SOXX
$43.5B
$4.77M 0.5%
+20,000
New +$4.01M
JPM icon
18
CALL
JPMorgan Chase
JPM
$940B
$4.52M 0.48%
15,600
+2,400
+18% +$612K
STNG icon
19
CALL
Scorpio Tankers
STNG
$4.11B
$4.3M 0.45%
110,000
-62,800
-36% -$2.45M
PEP icon
20
PepsiCo
PEP
$189B
$3.96M 0.42%
+30,000
New +$4.04M
ELV icon
21
Elevance Health
ELV
$87.2B
$3.89M 0.41%
+10,000
New +$4.02M
VNQ icon
22
PUT
Vanguard Real Estate ETF
VNQ
$37.9B
$3.56M 0.38%
+40,000
New +$3.53M
WBA
23
CALL
DELISTED
Walgreens Boots Alliance
WBA
$3.21M 0.34%
280,000
+20,000
+8% +$223K
EWG icon
24
CALL
iShares MSCI Germany ETF
EWG
$1.74B
$2.87M 0.3%
+67,900
New +$2.71M
CCL icon
25
PUT
Carnival Corporation Ltd
CCL
$31.8B
$2.25M 0.24%
+80,000
New +$1.71M
1
2 3 4 5

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Torno Capital's Q2 2025 Portfolio in Review

As of Q2 2025, Torno Capital held 111 positions worth $950M, up 145% from $387M the previous quarter. Its ten largest holdings account for 82% of the portfolio.

Torno Capital deployed $154M of net new capital in Q2 2025, opening 36 new positions and adding to 13 existing holdings. Its largest new stake was KraneShares CSI China Internet ETF: 4,894,750 shares worth $168M.

By sector, the portfolio is most concentrated in Miscellaneous at 92% of assets, up from 78% a quarter earlier, followed by Communication Services and Consumer Staples.

On the sell side, the largest reduction was Alpha Architect 1-3 Month Box ETF, an estimated $8.59M trimmed.

  • Torno Capital's largest Q2 2025 buy was KraneShares CSI China Internet ETF: 4,894,750 shares worth $168M.
  • Torno Capital added most to Alphabet (Google) Class C in Q2 2025, an estimated $46.6M increase.
  • Torno Capital's biggest Q2 2025 reduction was Alpha Architect 1-3 Month Box ETF, cutting an estimated $8.59M.
  • Torno Capital fully exited Dollar Tree in Q2 2025, selling an estimated $39.8M.
  • Torno Capital's ten largest holdings make up 82% of its $950M portfolio in Q2 2025.
  • Torno Capital opened 36 new positions and closed 48 in Q2 2025.
  • Torno Capital's portfolio value rose 145% quarter-over-quarter to $950M.

Based on Torno Capital's 13F filing for Q2 2025, filed 14 Aug 2025.