Managers / Q2 2025 · view latest →
Toronado Partners, LLC
CIK 0001749611 · 50 CALIFORNIA ST., SUITE 1500, SAN FRANCISCO, CA, 94111 · 415-969-8681
Summary
Toronado Partners, LLC reported $141M in U.S.-listed holdings across 11 positions for Q2 2025.
Its largest position, FN, represents 17.6% of the portfolio.
Compared with Q1 2025, 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 · 99.0% · $139M
- Other · 1.0% · $1M
Quarter-over-Quarter Changes full breakdown →
vs Q1 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| AMPLAMPLITUDE INC | NEW | +288.5K | 288.5K | +$4M | $4M |
| ALABASTERA LABS INC | SOLD OUT | −61.8K | 0 | −$4M | $0 |
| RISKIFIED LTD | TRIMMED | −752.4K | 287.3K | −$3M | $1M |
| SITMSITIME CORP | TRIMMED | −68.7K | 59.3K | −$7M | $13M |
| FNFABRINET | TRIMMED | −17.0K | 84.3K | +$5M | $25M |
| EVEREVERQUOTE INC | ADDED | +68.3K | 531.9K | +$718,931 | $13M |
| ESTCELASTIC N V | ADDED | +17.4K | 153.1K | +$819,295 | $13M |
| PIIMPINJ INC | TRIMMED | −19.3K | 197.4K | +$2M | $22M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q2 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | FNFABRINEThistory → | SHS | 17.64% | $25M | 84.3K |
| 2 | PIIMPINJ INChistory → | COM | 15.56% | $22M | 197.4K |
| 3 | TWLOTWILIO INChistory → | CL A | 12.68% | $18M | 143.6K |
| 4 | TRIPTRIPADVISOR INChistory → | COM | 9.18% | $13M | 990.6K |
| 5 | ESTCELASTIC N Vhistory → | ORD SHS | 9.17% | $13M | 153.1K |
| 6 | EVEREVERQUOTE INChistory → | COM CL A | 9.13% | $13M | 531.9K |
| 7 | SITMSITIME CORPhistory → | COM | 8.97% | $13M | 59.3K |
| 8 | HLITHARMONIC INChistory → | COM | 8.04% | $11M | 1.20M |
| 9 | JAMFJAMF HLDG CORPhistory → | COM | 6.08% | $9M | 901.2K |
| 10 | AMPLAMPLITUDE INChistory → | COM CL A | 2.54% | $4M | 288.5K |
| 11 | RISKIFIED LTD | SHS CL A | 1.02% | $1M | 287.3K |
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 ↗.