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Toronado Partners Portfolio holdings

AUM $53M
1-Year Est. Return 13.38%
This Fund
S&P 500
This Quarter Est. Return
+11.1%
1 Year Est. Return
+13.38%
3 Year Est. Return
+61.02%
5 Year Est. Return
+30.71%
10 Year Est. Return
–
AUM
$151M
AUM Growth
+$9.97M
Cap. Flow
-$8.13M
Cap. Flow %
-5.39%
Top 10 Hldgs %
88.25%
Holding
13
New
2
Increased
5
Reduced
5
Closed
1

Top Buys

Rank Stock Value
1
ENPH icon
Enphase Energy
ENPH
+$11.2M
2
AMPL icon
Amplitude
AMPL
+$8.09M
3
STUB
StubHub Holdings
STUB
+$7.98M
4
TWLO icon
Twilio
TWLO
+$3.67M
5
JAMF
Jamf
JAMF
+$1.88M

Top Sells

Rank Stock Value
1
FN icon
Fabrinet
FN
+$16.8M
2
PI icon
Impinj
PI
+$15.2M
3
SITM icon
SiTime
SITM
+$4.29M
4
TRIP icon
TripAdvisor
TRIP
+$2.56M
5
ESTC icon
Elastic
ESTC
+$1.99M

Sector Composition

Rank Sector Weight
1 Technology 77.14%
2 Communication Services 13.76%
3 Consumer Discretionary 9.09%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PI icon
1
Impinj
PI
$4.9B
$18.2M 12.08%
100,795
-96,646
-49% -$15.2M
TWLO icon
2
Twilio
TWLO
$30.1B
$17.6M 11.69%
176,177
+32,568
+23% +$3.67M
TRIP icon
3
TripAdvisor
TRIP
$1.66B
$13.7M 9.09%
843,654
-146,995
-15% -$2.56M
EVER icon
4
EverQuote
EVER
$880M
$13.4M 8.91%
587,440
+55,556
+10% +$1.34M
SITM icon
5
SiTime
SITM
$16.6B
$12.3M 8.15%
40,785
-18,527
-31% -$4.29M
HLIT icon
6
Harmonic Inc
HLIT
$1.27B
$12.3M 8.13%
1,204,593
+7,953
+0.7% +$74.9K
FN icon
7
Fabrinet
FN
$16.4B
$12.1M 8.02%
33,167
-51,162
-61% -$16.8M
JAMF
8
DELISTED
Jamf
JAMF
$11.9M 7.87%
1,109,255
+208,019
+23% +$1.88M
ESTC icon
9
Elastic
ESTC
$7.17B
$10.9M 7.26%
129,548
-23,580
-15% -$1.99M
ENPH icon
10
Enphase Energy
ENPH
$5.13B
$10.7M 7.07%
+301,379
New +$11.2M
AMPL icon
11
Amplitude
AMPL
$1.25B
$10.4M 6.9%
970,344
+681,856
+236% +$8.09M
STUB
12
StubHub Holdings
STUB
$3.34B
$7.33M 4.86%
+435,332
New +$7.98M
RSKD icon
13
Riskified
RSKD
$693M
– –
-287,270
Closed -$1.43M

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Toronado Partners's Q3 2025 Portfolio in Review

As of Q3 2025, Toronado Partners held 13 positions worth $151M, up 7.1% from $141M the previous quarter. Its ten largest holdings account for 88% of the portfolio.

Toronado Partners withdrew a net $8.13M in Q3 2025, closing 1 position and reducing 5 holdings. Its most notable exit was Riskified, an estimated $1.43M position sold in full.

By sector, the portfolio is most concentrated in Technology at 77% of assets, down from 82% a quarter earlier, followed by Communication Services and Consumer Discretionary.

Against the trend, Toronado Partners opened a new position in Enphase Energy worth $10.7M.

  • Toronado Partners's largest Q3 2025 buy was Enphase Energy: 301,379 shares worth $10.7M.
  • Toronado Partners added most to Amplitude in Q3 2025, an estimated $8.09M increase.
  • Toronado Partners's biggest Q3 2025 reduction was Fabrinet, cutting an estimated $16.8M.
  • Toronado Partners fully exited Riskified in Q3 2025, selling an estimated $1.43M.
  • Toronado Partners's ten largest holdings make up 88% of its $151M portfolio in Q3 2025.
  • Toronado Partners opened 2 new positions and closed 1 in Q3 2025.
  • Toronado Partners's portfolio value rose 7.1% quarter-over-quarter to $151M.

Based on Toronado Partners's 13F filing for Q3 2025, filed 13 Nov 2025.