Managers / Q2 2023 · view latest →
Toronado Partners, LLC
CIK 0001749611 · 50 CALIFORNIA ST., SUITE 1500, SAN FRANCISCO, CA, 94111 · 415-969-8681
Summary
Toronado Partners, LLC reported $231M in U.S.-listed holdings across 21 positions for Q2 2023.
Its largest position, PI, represents 12.7% of the portfolio.
Compared with Q1 2023, the fund opened 2 new positions and exited 0.
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 · 90.7% · $209M
- Other · 9.3% · $21M
Quarter-over-Quarter Changes full breakdown →
vs Q1 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| HLITHARMONIC INC | NEW | +806.2K | 806.2K | +$13M | $13M |
| FNFABRINET | NEW | +71.3K | 71.3K | +$9M | $9M |
| PIIMPINJ INC | ADDED | +140.8K | 327.1K | +$4M | $29M |
| GDYNGRID DYNAMICS HLDGS INC | TRIMMED | −1.45M | 702.5K | −$18M | $6M |
| SITMSITIME CORP | ADDED | +72.3K | 189.3K | +$6M | $22M |
| TWLOTWILIO INC | TRIMMED | −213.7K | 353.0K | −$15M | $22M |
| AMPLAMPLITUDE INC | TRIMMED | −721.6K | 1.29M | −$11M | $14M |
| MITKMITEK SYS INC | TRIMMED | −906.3K | 1.75M | −$7M | $19M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q2 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | PIIMPINJ INChistory → | COM | 12.71% | $29M | 327.1K |
| 2 | TENBTENABLE HLDGS INChistory → | COM | 12.66% | $29M | 670.3K |
| 3 | MXMAGNACHIP SEMICONDUCTOR CORPhistory → | COM | 9.91% | $23M | 2.05M |
| 4 | TWLOTWILIO INChistory → | CL A | 9.74% | $22M | 353.0K |
| 5 | SITMSITIME CORPhistory → | COM | 9.68% | $22M | 189.3K |
| 6 | RISKIFIED LTD | SHS CL A | 9.32% | $21M | 4.42M |
| 7 | ESTCELASTIC N Vhistory → | ORD SHS | 9.13% | $21M | 328.3K |
| 8 | MITKMITEK SYS INChistory → | COM NEW | 8.23% | $19M | 1.75M |
| 9 | AMPLAMPLITUDE INChistory → | COM CL A | 6.14% | $14M | 1.29M |
| 10 | HLITHARMONIC INChistory → | COM | 5.65% | $13M | 806.2K |
| 11 | FNFABRINEThistory → | SHS | 4.01% | $9M | 71.3K |
| 12 | GDYNGRID DYNAMICS HLDGS INChistory → | CL A | 2.82% | $6M | 702.5K |
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 ↗.