Managers / Q4 2019 · view latest →
Toronado Partners, LLC
CIK 0001749611 · 50 CALIFORNIA ST., SUITE 1500, SAN FRANCISCO, CA, 94111 · 415-969-8681
Summary
Toronado Partners, LLC reported $352M in U.S.-listed holdings across 12 positions for Q4 2019.
Its largest position, GDS, represents 13.2% of the portfolio.
Compared with Q3 2019, the fund opened 1 new position and exited 1.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 79.4% · $279M
- ADR · 13.2% · $46M
- Other · 7.4% · $26M
Quarter-over-Quarter Changes full breakdown →
vs Q3 2019 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| IDCCINTERDIGITAL INC | NEW | +610.5K | 610.5K | +$33M | $33M |
| CARBON BLACK INC | SOLD OUT | −1.44M | 0 | −$37M | $0 |
| PIIMPINJ INC | ADDED | +407.1K | 1.10M | +$7M | $28M |
| TWLOTWILIO INC | ADDED | +85.1K | 236.7K | +$7M | $23M |
| ZENDESK INC | ADDED | +124.8K | 375.4K | +$11M | $29M |
| BLBLACKLINE INC | ADDED | +176.9K | 678.4K | +$11M | $35M |
| MITKMITEK SYS INC | ADDED | +383.8K | 1.69M | +$329,000 | $13M |
| GDSGDS HLDGS LTD | ADDED | +101.5K | 900.7K | +$14M | $46M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2019
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | GDSGDS HLDGS LTDhistory → | SPONSORED ADS | 13.20% | $46M | 900.7K |
| 2 | EHTHEHEALTH INChistory → | COM | 10.30% | $36M | 377.3K |
| 3 | BLBLACKLINE INChistory → | COM | 9.94% | $35M | 678.4K |
| 4 | NEW RELIC INC | COM | 9.73% | $34M | 521.2K |
| 5 | IDCCINTERDIGITAL INChistory → | COM | 9.45% | $33M | 610.5K |
| 6 | ZENDESK INC | COM | 8.17% | $29M | 375.4K |
| 7 | PIIMPINJ INChistory → | COM | 8.05% | $28M | 1.10M |
| 8 | VIAVVIAVI SOLUTIONS INChistory → | COM | 7.92% | $28M | 1.86M |
| 9 | INTERXION HOLDING N.V | SHS | 7.45% | $26M | 312.8K |
| 10 | TWLOTWILIO INChistory → | CL A | 6.61% | $23M | 236.7K |
| 11 | MXMAGNACHIP SEMICONDUCTOR CORPhistory → | COM | 5.53% | $19M | 1.68M |
| 12 | MITKMITEK SYS INChistory → | COM NEW | 3.67% | $13M | 1.69M |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $53M | 11 | May 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $105M | 11 | Feb 12, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $151M | 12 | Nov 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $141M | 11 | Aug 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $143M | 11 | May 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $158M | 11 | Feb 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $167M | 11 | Nov 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $156M | 10 | Aug 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $181M | 17 | May 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $190M | 18 | Feb 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $176M | 19 | Nov 13, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $231M | 21 | Aug 11, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $273M | 17 | May 12, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $261M | 17 | May 12, 2023 | RESTATEMENT | changes · EDGAR ↗ |
| Q3 2022 | $284M | 19 | Nov 10, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $307M | 17 | Aug 12, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $340M | 17 | May 13, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $314M | 16 | Feb 11, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $284M | 15 | Nov 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $343M | 17 | Aug 13, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $308M | 10 | May 14, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $377M | 11 | Feb 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $359M | 12 | Nov 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $383M | 11 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $320M | 11 | May 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $352M | 12 | Feb 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $292M | 12 | Nov 13, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $228M | 12 | Aug 13, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $183M | 11 | May 15, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.