SEC 13F Intelligence

Managers / Q1 2020 · view latest →

Toronado Partners, LLC

CIK 0001749611 · 50 CALIFORNIA ST., SUITE 1500, SAN FRANCISCO, CA, 94111 · 415-969-8681

Reported Value
$320M
Q1 2020
Positions
11
Filings on Record
30
2019–present window
Filed
May 14, 2020
original filing

Summary

Toronado Partners, LLC reported $320M in U.S.-listed holdings across 11 positions for Q1 2020.

Its largest position, GDS, represents 13.1% of the portfolio.

Compared with Q4 2019, the fund opened 0 new positions and exited 1.

Portfolio Metrics

Turnover
+6.1%
vs prior filed quarter
Top-10 Concentration
+95.3%
share of reported value
Largest Position
+13.1%
Gds

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

13F Reported Value
Q1 ’19: $183MQ1 ’19Q2 ’19: $228MQ3 ’19: $292MQ4 ’19: $352MQ1 ’20: $320MQ1 ’20Q2 ’20: $383MQ3 ’20: $359MQ4 ’20: $377MQ1 ’21: $308MQ1 ’21Q2 ’21: $343MQ3 ’21: $284MQ4 ’21: $314MQ1 ’22: $340MQ1 ’22Q2 ’22: $307MQ3 ’22: $284MQ4 ’22: $261MQ1 ’23: $273MQ1 ’23Q2 ’23: $231MQ3 ’23: $176MQ4 ’23: $190MQ1 ’24: $181MQ1 ’24Q2 ’24: $156MQ3 ’24: $167MQ4 ’24: $158MQ1 ’25: $143MQ1 ’25Q2 ’25: $141MQ3 ’25: $151MQ4 ’25: $105MQ1 ’26: $53MQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 86.9%ADR: 13.1%
  • Common Stock · 86.9% · $278M
  • ADR · 13.1% · $42M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
INTERXION HOLDING N.VSOLD OUT−312.8K0−$26M$0
TWLOTWILIO INCADDED+132.2K368.9K+$10M$33M
PIIMPINJ INCADDED+453.3K1.55M−$2M$26M
ZENDESK INCADDED+142.6K517.9K+$4M$33M
EHTHEHEALTH INCTRIMMED−88.8K288.4K+$4M$41M
GDSGDS HLDGS LTDTRIMMED−180.6K720.1K−$5M$42M
NEW RELIC INCADDED+82.8K604.1K−$6M$28M
BLBLACKLINE INCTRIMMED−102.5K575.9K−$5M$30M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2020

11 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1GDSGDS HLDGS LTDhistory →SPONSORED ADS13.05%$42M720.1K
2EHTHEHEALTH INChistory →COM12.70%$41M288.4K
3ZENDESK INCCOM10.37%$33M517.9K
4TWLOTWILIO INChistory →CL A10.32%$33M368.9K
5IDCCINTERDIGITAL INChistory →COM9.56%$31M685.3K
6BLBLACKLINE INChistory →COM9.47%$30M575.9K
7NEW RELIC INCCOM8.73%$28M604.1K
8PIIMPINJ INChistory →COM8.10%$26M1.55M
9VIAVVIAVI SOLUTIONS INChistory →COM7.09%$23M2.02M
10MXMAGNACHIP SEMICONDUCTOR CORPhistory →COM5.92%$19M1.71M
11MITKMITEK SYS INChistory →COM NEW4.68%$15M1.90M

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$53M11May 13, 202613F-HRchanges · EDGAR ↗
Q4 2025$105M11Feb 12, 202613F-HRchanges · EDGAR ↗
Q3 2025$151M12Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$141M11Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$143M11May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$158M11Feb 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$167M11Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024$156M10Aug 13, 202413F-HRchanges · EDGAR ↗
Q1 2024$181M17May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$190M18Feb 13, 202413F-HRchanges · EDGAR ↗
Q3 2023$176M19Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$231M21Aug 11, 202313F-HRchanges · EDGAR ↗
Q1 2023$273M17May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$261M17May 12, 2023RESTATEMENTchanges · EDGAR ↗
Q3 2022$284M19Nov 10, 202213F-HRchanges · EDGAR ↗
Q2 2022$307M17Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$340M17May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$314M16Feb 11, 202213F-HRchanges · EDGAR ↗
Q3 2021$284M15Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$343M17Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$308M10May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$377M11Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$359M12Nov 13, 202013F-HRchanges · EDGAR ↗
Q2 2020$383M11Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$320M11May 14, 202013F-HRchanges · EDGAR ↗
Q4 2019$352M12Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$292M12Nov 13, 201913F-HRchanges · EDGAR ↗
Q2 2019$228M12Aug 13, 201913F-HRchanges · EDGAR ↗
Q1 2019$183M11May 15, 201913F-HRchanges · 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 ↗.