Toronado Partners, LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Toronado Partners, LLC reported 11 stock positions worth $158.3 million. Its top holding was Fabrinet (FN) at 13.7% of the portfolio, followed by Twilio Class A (TWLO, 10.9%) and Harmonic (HLIT, 10.6%). Compared with Q3 2024, it opened 1 new position, sold out of 1, added to 4 and reduced 6. The biggest buy was a new position in Tripadvisor (TRIP) and the biggest sale an exit from Mitek Systems (MITK).
- Most Recent 13F
- Q2 2026
- Location
- SAN FRANCISCO, CA
- CIK
- 0001749611
- Portfolio Value
- $158.3M (Q4 2024)
- SEC Filing
- 0001749611-25-000003 ↗ filed Feb 13, 2025
Holdings Value
Holdings 11 stocks · $158.3M
| FN Fabrinet | 13.72% | 98,746 | $21.7M | Add +9.7% |
| TWLO Twilio Inc. Class A | 10.94% | 160,250 | $17.3M | Reduce -45.0% |
| HLIT Harmonic Inc. | 10.65% | 1,273,396 | $16.8M | Reduce -2.6% |
| SITM Sitime Corp. | 10.25% | 75,625 | $16.2M | Reduce -20.0% |
| ALAB Astera Labs Inc. | 9.78% | 116,811 | $15.5M | Reduce -61.1% |
| EVER Everquote Inc. Class A | 9.08% | 718,774 | $14.4M | Add +59.7% |
| JAMF Jamf Holding Corp. filed as JAMF HLDG CORP | 8.36% | 941,083 | $13.2M | Add +5.1% |
| PI Impinj Inc. | 8.32% | 90,668 | $13.2M | Add +36.5% |
| ESTC Elastic NV | 7.68% | 122,685 | $12.2M | Reduce -48.2% |
| TRIP Tripadvisor Inc. | 6.66% | 713,163 | $10.5M | New |
| RSKD Riskified Ltd. Class A | 4.57% | 1,528,103 | $7.2M | Reduce -4.0% |
Portfolio Sells Q3 2024 → Q4 2024
| MITK Mitek Systems Inc. | Sold out | 0.00% | −6.55 |
| ESTC Elastic NV | Reduce -48.2% | 7.68% | −3.18 |
| HLIT Harmonic Inc. | Reduce -2.6% | 10.65% | −0.74 |
| TWLO Twilio Inc. Class A | Reduce -45.0% | 10.94% | −0.41 |
| RSKD Riskified Ltd. Class A | Reduce -4.0% | 4.57% | +0.07 |
| ALAB Astera Labs Inc. | Reduce -61.1% | 9.78% | +0.38 |
| SITM Sitime Corp. | Reduce -20.0% | 10.25% | +0.56 |
Portfolio Buys Q3 2024 → Q4 2024
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 11 | $35.5M | PI, SITM, EVER, KRNT, IDCC |
| Q1 2026 | 11 | $53.0M | PI, FN, WIX, ESTC, SITM |
| Q4 2025 | 11 | $104.7M | TWLO, PI, ESTC, SITM, HLIT |
| Q3 2025 | 12 | $150.9M | PI, TWLO, TRIP, EVER, SITM |
| Q2 2025 | 11 | $140.9M | FN, PI, TWLO, TRIP, ESTC |
| Q1 2025 | 11 | $142.9M | FN, PI, SITM, TWLO, TRIP |
| Q4 2024 | 11 | $158.3M | FN, TWLO, HLIT, SITM, ALAB |
| Q3 2024 | 11 | $167.3M | FN, HLIT, TWLO, ESTC, SITM |
| Q2 2024 | 10 | $156.1M | FN, HLIT, ESTC, JAMF, MITK |
| Q1 2024 | 11 | $180.6M | PI, FN, HLIT, TWLO, MITK |