Torno Capital, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed August 17, 2026), Torno Capital, LLC reported 28 stock positions worth $234.5 million. Its top holding was Alphabet Class A (GOOGL) at 25.0% of the portfolio, followed by Kranesh Csi China Internet (KWEB, 16.7%) and Sprott Uranium Miners ETF (URNM, 12.6%). Compared with Q3 2025, it opened 22 new positions, sold out of 17, added to 3 and reduced 3. The biggest buy was a new position in Sprott Uranium Miners ETF (URNM) and the biggest sale Kranesh Csi China Internet (KWEB, shares −91%).
- Most Recent 13F
- Q2 2026
- Location
- COHASSET, MA
- CIK
- 0001974312
- Portfolio Value
- $234.5M (Q4 2025)
- SEC Filing
- 0001974312-26-000010 ↗ filed Aug 17, 2026
Holdings Value
Holdings 28 stocks · $234.5M
| GOOGL Alphabet Inc. Class A | 25.03% | 187,500 | $58.7M | Reduce -47.9% |
| KWEB Kranesh Csi China Internet | 16.70% | 1,150,000 | $39.2M | Reduce -90.6% |
| URNM Sprott Uranium Miners ETF | 12.64% | 540,100 | $29.6M | New |
| SGDJ Sprott Jr. Gold Miners ETF | 11.26% | 314,000 | $26.4M | New |
| URA Global X Uranium ETF | 10.02% | 550,000 | $23.5M | New |
| SILJ Amplify Junior Silver Miners | 7.32% | 620,500 | $17.2M | New |
| EZA iShares MSCI South Africa Et | 5.43% | 185,000 | $12.7M | New |
| SIL Global X Silver Miners ETF | 2.67% | 75,000 | $6.3M | New |
| EMPD Empery Digital Inc. | 1.65% | 850,000 | $3.9M | Add +347.4% |
| UBRL Granite 2X Long Uber ETF | 1.44% | 159,000 | $3.4M | New |
| MJ Amplify Alternat Harvest ETF | 1.01% | 79,300 | $2.4M | New |
| SLVR Sprott SLVR Miner & PHY SLVR | 0.93% | 39,100 | $2.2M | New |
| BLK BlackRock Inc. | 0.80% | 1,750 | $1.9M | New |
| SBET Sharplink Inc. | 0.63% | 165,600 | $1.5M | New |
| THS Treehouse Foods Inc. | 0.55% | 55,000 | $1.3M | New |
| PSKY Paramount Skydance Class B | 0.34% | 60,000 | $804K | Reduce -52.9% |
| IREN Iren Ltd. filed as IREN LIMITED | 0.27% | 16,600 | $627K | Add +18.6% |
| PSIL Advisorshares Psychedelics | 0.26% | 35,000 | $601K | New |
| COPX Global X Copper Miners ETF | 0.24% | 7,700 | $553K | New |
| DBMF Imgp Dbi MFT STR ETF-Usd Inc. | 0.18% | 15,000 | $421K | New |
| PLRX Pliant Therapeutics Inc. | 0.17% | 320,000 | $390K | Add +144.4% |
| EWJ iShares MSCI Japan ETF | 0.14% | 4,000 | $323K | New |
| BBIO Bridgebio Pharma Inc. | 0.08% | 2,500 | $191K | New |
| ASHR Xtrackers Harvest Csi 300 CH | 0.07% | 5,300 | $174K | New |
| GBIO Generation Bio Co. | 0.06% | 25,000 | $142K | New |
| KZR Kezar Life Sciences Inc. | 0.05% | 20,000 | $126K | New |
| EFA iShares MSCI Eafe ETF | 0.03% | 800 | $77K | New |
| WULF Terawulf Inc. | 0.02% | 5,000 | $57K | New |
Options reported separately and not counted above: KWEB calls ($164.5M), KWEB puts ($136.7M), EWY puts ($55.4M), EZA puts ($44.0M), SGDJ puts ($41.5M), EWY calls ($38.9M), URNM puts ($37.6M), FXI calls ($28.7M), URA puts ($25.3M), DELL puts ($18.9M), BLK calls ($17.6M), BLK puts ($16.3M), and 43 more.
Other holdings (3): bonds, preferreds, convertibles and warrants · $20K (not counted above)
Total filed on the 13F, all lines: $234.5M.
Portfolio Sells Q3 2025 → Q4 2025
| KWEB Kranesh Csi China Internet | Reduce -90.6% | 16.70% | −51.14 |
| GOOG Alphabet Inc. Class C | Sold out | 0.00% | −15.96 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −2.29 |
| BTF Valkyrie ETF Trust II | Sold out | 0.00% | −0.46 |
| VNQ Vanguard Real Estate ETF | Sold out | 0.00% | −0.39 |
| NVDL Granitesh 2X LNG Nvda ETF | Sold out | 0.00% | −0.31 |
| ETHA iShares Ethereum Trust ETF | Sold out | 0.00% | −0.23 |
| HOOD Robinhood Markets Inc. Class A | Sold out | 0.00% | −0.09 |
| BOXX Alpha Architect 1-3 MNTH Box | Sold out | 0.00% | −0.09 |
| MURA Mural Oncology PLC | Sold out | 0.00% | −0.05 |
| AIFC AI Financial Corp. | Sold out | 0.00% | −0.02 |
| SCPH Scpharmaceuticals Inc. | Sold out | 0.00% | −0.02 |
| MIR Mirion Technologies Inc. | Sold out | 0.00% | −0.02 |
| AGIO Agios Pharmaceuticals Inc. | Sold out | 0.00% | −0.01 |
| ZETA Zeta Global Holdings Corp. Class A | Sold out | 0.00% | −0.01 |
| ALAB Astera Labs Inc. | Sold out | 0.00% | −0.01 |
| LVTX Lava Therapeutics NV | Sold out | 0.00% | −0.00 |
| KINS Kingstone Cos Inc. | Sold out | 0.00% | −0.00 |
| PSKY Paramount Skydance Class B | Reduce -52.9% | 0.34% | +0.02 |
| GOOGL Alphabet Inc. Class A | Reduce -47.9% | 25.03% | +13.44 |
Portfolio Buys Q3 2025 → Q4 2025
| URNM Sprott Uranium Miners ETF | New | 12.64% | +12.64 |
| SGDJ Sprott Jr. Gold Miners ETF | New | 11.26% | +11.26 |
| URA Global X Uranium ETF | New | 10.02% | +10.02 |
| SILJ Amplify Junior Silver Miners | New | 7.32% | +7.32 |
| EZA iShares MSCI South Africa Et | New | 5.43% | +5.43 |
| SIL Global X Silver Miners ETF | New | 2.67% | +2.67 |
| EMPD Empery Digital Inc. | Add +347.4% | 1.65% | +1.47 |
| UBRL Granite 2X Long Uber ETF | New | 1.44% | +1.44 |
| MJ Amplify Alternat Harvest ETF | New | 1.01% | +1.01 |
| SLVR Sprott SLVR Miner & PHY SLVR | New | 0.93% | +0.93 |
| BLK BlackRock Inc. | New | 0.80% | +0.80 |
| SBET Sharplink Inc. | New | 0.63% | +0.63 |
| THS Treehouse Foods Inc. | New | 0.55% | +0.55 |
| PSIL Advisorshares Psychedelics | New | 0.26% | +0.26 |
| COPX Global X Copper Miners ETF | New | 0.24% | +0.24 |
| IREN Iren Ltd. | Add +18.6% | 0.27% | +0.18 |
| DBMF Imgp Dbi MFT STR ETF-Usd Inc. | New | 0.18% | +0.18 |
| PLRX Pliant Therapeutics Inc. | Add +144.4% | 0.17% | +0.14 |
| EWJ iShares MSCI Japan ETF | New | 0.14% | +0.14 |
| BBIO Bridgebio Pharma Inc. | New | 0.08% | +0.08 |
| ASHR Xtrackers Harvest Csi 300 CH | New | 0.07% | +0.07 |
| GBIO Generation Bio Co. | New | 0.06% | +0.06 |
| KZR Kezar Life Sciences Inc. | New | 0.05% | +0.05 |
| EFA iShares MSCI Eafe ETF | New | 0.03% | +0.03 |
| WULF Terawulf Inc. | New | 0.02% | +0.02 |
Options Activity Q3 2025 → Q4 2025
| UNH Unitedhealth Group Inc. | call | Sold out | 595,100 | $205.5Mbefore exit |
| KWEB Kranesh Csi China Internet | call | Add +2918.8% | 4,830,000 | $164.5M |
| GOOGL Alphabet Inc. Class A | put | Sold out | 600,000 | $145.9Mbefore exit |
| KWEB Kranesh Csi China Internet | put | Reduce -68.8% | 4,015,000 | $136.7M |
| UNH Unitedhealth Group Inc. | put | Sold out | 254,100 | $87.7Mbefore exit |
| CAT Caterpillar Inc. | call | Sold out | 137,200 | $65.5Mbefore exit |
| TSLA Tesla Inc. | call | Sold out | 147,000 | $65.4Mbefore exit |
| GOOG Alphabet Inc. Class C | put | Sold out | 250,000 | $60.9Mbefore exit |
| EWY iShares MSCI South Korea ETF | put | New | 570,000 | $55.4M |
| EZA iShares MSCI South Africa Et | put | New | 639,500 | $44.0M |
| SGDJ Sprott Jr. Gold Miners ETF | put | New | 493,000 | $41.5M |
| EWY iShares MSCI South Korea ETF | call | New | 400,000 | $38.9M |
| URNM Sprott Uranium Miners ETF | put | New | 684,500 | $37.6M |
| BMI Badger Meter Inc. | call | Sold out | 187,500 | $33.5Mbefore exit |
| WDC Western Digital Corp. | put | Sold out | 248,800 | $29.9Mbefore exit |
| FXI iShares China Large-Cap ETF | call | New | 750,000 | $28.7M |
| URA Global X Uranium ETF | put | New | 592,400 | $25.3M |
| DELL Dell Technologies -C | put | New | 150,000 | $18.9M |
| BTF Valkyrie ETF Trust II | put | Sold out | 1,050,000 | $18.2Mbefore exit |
| BLK BlackRock Inc. | call | New | 16,400 | $17.6M |
| BLK BlackRock Inc. | put | New | 15,200 | $16.3M |
| AIV Apartment Invt & Mgmt Co. Class A | call | Sold out | 2,000,000 | $15.9Mbefore exit |
| GOOG Alphabet Inc. Class C | call | Sold out | 58,900 | $14.3Mbefore exit |
| EWG iShares MSCI Germany ETF | call | Sold out | 335,000 | $13.9Mbefore exit |
| BMI Badger Meter Inc. | put | Sold out | 77,000 | $13.8Mbefore exit |
| LITE Lumentum Holdings Inc. | call | Reduce -77.4% | 36,400 | $13.4M |
| NVDL Granitesh 2X LNG Nvda ETF | put | Reduce -20.0% | 120,000 | $10.6M |
| MSTR Strategy Inc. | put | Sold out | 30,000 | $9.7Mbefore exit |
| CRDO Credo Technology Group Holdi | put | Sold out | 62,500 | $9.1Mbefore exit |
| SNDK Sandisk Corp. | call | Sold out | 80,000 | $9.0Mbefore exit |
| SOXL Direx Dail Semi Bu 3X Et-Usd | put | Reduce -89.1% | 210,300 | $8.8M |
| HWM Howmet Aerospace Inc. | call | New | 28,700 | $5.9M |
| FXI iShares China Large-Cap ETF | put | New | 150,000 | $5.7M |
| TQQQ Proshares Ultrapro QQQ | put | Reduce -71.8% | 103,900 | $5.5M |
| VTR Ventas Inc. | call | New | 70,000 | $5.4M |
| WULF Terawulf Inc. | call | New | 450,000 | $5.2M |
| GDXJ Vaneck Junior Gold Miners | put | New | 41,000 | $4.7M |
| VNQ Vanguard Real Estate ETF | put | Sold out | 50,000 | $4.6Mbefore exit |
| UBRL Granite 2X Long Uber ETF | put | New | 208,500 | $4.4M |
| AEM Agnico Eagle Mines Ltd. | call | New | 15,000 | $2.5M |
| MJ Amplify Alternat Harvest ETF | put | New | 79,300 | $2.4M |
| JNJ Johnson & Johnson | call | Sold out | 12,200 | $2.3Mbefore exit |
| ISRG Intuitive Surgical Inc. | call | Sold out | 4,600 | $2.1Mbefore exit |
| JCI Johnson Controls Internation | call | Reduce -21.4% | 16,900 | $2.0M |
| PSKY Paramount Skydance Class B | put | Add +15.4% | 150,000 | $2.0M |
| ABBV Abbvie Inc. | call | Sold out | 7,800 | $1.8Mbefore exit |
| URNM Sprott Uranium Miners ETF | call | New | 30,000 | $1.6M |
| MET Metlife Inc. | call | Sold out | 19,000 | $1.6Mbefore exit |
| BBIO Bridgebio Pharma Inc. | put | New | 19,900 | $1.5M |
| VLO Valero Energy Corp. | call | Sold out | 8,900 | $1.5Mbefore exit |
Showing the first 50 of 89.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025
| OPENL Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | New | 25,000 | $13K |
| OPENW Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | New | 5,000 | $5K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 21 | $1.4B | NVDA, MSFT, GOOG, AMZN, TSM |
| Q1 2026Amended | 18 | $242.3M | GOOGL, GOOG, WIX, ORCL, SOXL |
| Q4 2025Amended | 28 | $234.5M | GOOGL, KWEB, URNM, SGDJ, URA |
| Q3 2025Amended | 23 | $755.5M | KWEB, GOOG, GOOGL, UNH, BTF |
| Q2 2025Amended | 12 | $265.0M | KWEB, GOOG, SPY, PEP, ELV |
| Q1 2025 | 17 | $96.5M | DLTR, GOOGL, GOOG, BOXX, RH |
| Q4 2024Amended | 39 | $506.3M | AMZN, AMD, NVDA, GOOG, NVDL |
| Q3 2024Amended | 48 | $77.2M | GOOG, GOOGL, STNG, KWEB, DUK |
| Q2 2024Amended | 48 | $947.1M | AMZN, AAPL, META, GOOG, MSFT |
| Q1 2024 | 58 | $465.1M | GOOGL, BKNG, MSFT, BRK.B, MELI |