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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
+5.37%
1 Year Est. Return
+13.38%
3 Year Est. Return
+61.02%
5 Year Est. Return
+30.71%
10 Year Est. Return
–
AUM
$105M
AUM Growth
-$46.2M
Cap. Flow
-$52.9M
Cap. Flow %
-50.54%
Top 10 Hldgs %
94.51%
Holding
13
New
1
Increased
2
Reduced
8
Closed
2

Top Buys

Rank Stock Value
1
WIX icon
WIX.com
WIX
+$6.69M
2
STUB
StubHub Holdings
STUB
+$1.89M
3
ESTC icon
Elastic
ESTC
+$979K

Top Sells

Rank Stock Value
1
JAMF
Jamf
JAMF
+$11.9M
2
ENPH icon
Enphase Energy
ENPH
+$10.7M
3
TWLO icon
Twilio
TWLO
+$8.86M
4
EVER icon
EverQuote
EVER
+$7.2M
5
FN icon
Fabrinet
FN
+$6.74M

Sector Composition

Rank Sector Weight
1 Technology 77.3%
2 Communication Services 14.68%
3 Consumer Discretionary 8.02%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TWLO icon
1
Twilio
TWLO
$29.1B
$14.9M 14.22%
104,663
-71,514
-41% -$8.86M
PI icon
2
Impinj
PI
$3.89B
$12M 11.43%
68,775
-32,020
-32% -$5.7M
ESTC icon
3
Elastic
ESTC
$6.1B
$10.7M 10.2%
141,548
+12,000
+9% +$979K
SITM icon
4
SiTime
SITM
$16.6B
$10.6M 10.16%
30,102
-10,683
-26% -$3.34M
HLIT icon
5
Harmonic Inc
HLIT
$1.21B
$9.98M 9.53%
1,008,690
-195,903
-16% -$1.97M
AMPL icon
6
Amplitude
AMPL
$1.07B
$8.98M 8.58%
775,573
-194,771
-20% -$2.05M
TRIP icon
7
TripAdvisor
TRIP
$1.59B
$8.4M 8.02%
576,715
-266,939
-32% -$4.06M
FN icon
8
Fabrinet
FN
$17.1B
$8.04M 7.68%
17,667
-15,500
-47% -$6.74M
EVER icon
9
EverQuote
EVER
$886M
$7.84M 7.49%
290,549
-296,891
-51% -$7.2M
STUB
10
StubHub Holdings
STUB
$3.1B
$7.52M 7.18%
555,710
+120,378
+28% +$1.89M
WIX icon
11
WIX.com
WIX
$2.15B
$5.75M 5.49%
+55,300
New +$6.69M
ENPH icon
12
Enphase Energy
ENPH
$4.84B
– –
-301,379
Closed -$10.7M
JAMF
13
DELISTED
Jamf
JAMF
– –
-1,109,255
Closed -$11.9M

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BCM
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ETCM
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Toronado Partners's Q4 2025 Portfolio in Review

As of Q4 2025, Toronado Partners held 13 positions worth $105M, down 31% from $151M the previous quarter. Its ten largest holdings account for 95% of the portfolio.

Toronado Partners withdrew a net $52.9M in Q4 2025, closing 2 positions and reducing 8 holdings. Its most notable exit was Jamf, an estimated $11.9M position sold in full.

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

Against the trend, Toronado Partners opened a new position in WIX.com worth $5.75M.

  • Toronado Partners's largest Q4 2025 buy was WIX.com: 55,300 shares worth $5.75M.
  • Toronado Partners added most to StubHub Holdings in Q4 2025, an estimated $1.89M increase.
  • Toronado Partners's biggest Q4 2025 reduction was Twilio, cutting an estimated $8.86M.
  • Toronado Partners fully exited Jamf in Q4 2025, selling an estimated $11.9M.
  • Toronado Partners's ten largest holdings make up 95% of its $105M portfolio in Q4 2025.
  • Toronado Partners opened 1 new position and closed 2 in Q4 2025.
  • Toronado Partners's portfolio value fell 31% quarter-over-quarter to $105M.

Based on Toronado Partners's 13F filing for Q4 2025, filed 12 Feb 2026.