Toronado Partners, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Toronado Partners, LLC reported 11 stock positions worth $140.9 million. Its top holding was Fabrinet (FN) at 17.6% of the portfolio, followed by Impinj (PI, 15.6%) and Twilio Class A (TWLO, 12.7%). Compared with Q1 2025, it opened 1 new position, sold out of 1, added to 3 and reduced 6. The biggest buy was a new position in Amplitude Class A (AMPL) and the biggest sale Sitime (SITM, shares −54%).
- Most Recent 13F
- Q2 2026
- Location
- SAN FRANCISCO, CA
- CIK
- 0001749611
- Portfolio Value
- $140.9M (Q2 2025)
- SEC Filing
- 0001420506-25-001899 ↗ filed Aug 13, 2025
Holdings Value
Holdings 11 stocks · $140.9M
| FN Fabrinet | 17.64% | 84,329 | $24.9M | Reduce -16.8% |
| PI Impinj Inc. | 15.56% | 197,441 | $21.9M | Reduce -8.9% |
| TWLO Twilio Inc. Class A | 12.68% | 143,609 | $17.9M | Reduce -2.7% |
| TRIP Tripadvisor Inc. | 9.18% | 990,649 | $12.9M | Add +5.8% |
| ESTC Elastic NV | 9.17% | 153,128 | $12.9M | Add +12.8% |
| EVER Everquote Inc. Class A | 9.13% | 531,884 | $12.9M | Add +14.7% |
| SITM Sitime Corp. | 8.97% | 59,312 | $12.6M | Reduce -53.7% |
| HLIT Harmonic Inc. | 8.04% | 1,196,640 | $11.3M | No change |
| JAMF Jamf Holding Corp. filed as JAMF HLDG CORP | 6.08% | 901,236 | $8.6M | Reduce -6.9% |
| AMPL Amplitude Inc. Class A | 2.54% | 288,488 | $3.6M | New |
| RSKD Riskified Ltd. Class A | 1.02% | 287,270 | $1.4M | Reduce -72.4% |
Portfolio Sells Q1 2025 → Q2 2025
| SITM Sitime Corp. | Reduce -53.7% | 8.97% | −4.72 |
| ALAB Astera Labs Inc. | Sold out | 0.00% | −2.58 |
| RSKD Riskified Ltd. Class A | Reduce -72.4% | 1.02% | −2.34 |
| JAMF Jamf Holding Corp. | Reduce -6.9% | 6.08% | −2.15 |
| PI Impinj Inc. | Reduce -8.9% | 15.56% | +1.81 |
| TWLO Twilio Inc. Class A | Reduce -2.7% | 12.68% | +2.56 |
| FN Fabrinet | Reduce -16.8% | 17.64% | +3.64 |
Portfolio Buys Q1 2025 → Q2 2025
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 |