Toronado Partners, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 12, 2026), Toronado Partners, LLC reported 11 stock positions worth $104.7 million. Its top holding was Twilio Class A (TWLO) at 14.2% of the portfolio, followed by Impinj (PI, 11.4%) and Elastic (ESTC, 10.2%). Compared with Q3 2025, it opened 1 new position, sold out of 2, added to 2 and reduced 8. The biggest buy was a new position in Wix.com (WIX) and the biggest sale an exit from Jamf (JAMF).
- Most Recent 13F
- Q2 2026
- Location
- SAN FRANCISCO, CA
- CIK
- 0001749611
- Portfolio Value
- $104.7M (Q4 2025)
- SEC Filing
- 0001420506-26-000319 ↗ filed Feb 12, 2026
Holdings Value
Holdings 11 stocks · $104.7M
| TWLO Twilio Inc. Class A | 14.22% | 104,663 | $14.9M | Reduce -40.6% |
| PI Impinj Inc. | 11.43% | 68,775 | $12.0M | Reduce -31.8% |
| ESTC Elastic NV | 10.20% | 141,548 | $10.7M | Add +9.3% |
| SITM Sitime Corp. | 10.16% | 30,102 | $10.6M | Reduce -26.2% |
| HLIT Harmonic Inc. | 9.53% | 1,008,690 | $10.0M | Reduce -16.3% |
| AMPL Amplitude Inc. Class A | 8.58% | 775,573 | $9.0M | Reduce -20.1% |
| TRIP Tripadvisor Inc. | 8.02% | 576,715 | $8.4M | Reduce -31.6% |
| FN Fabrinet | 7.68% | 17,667 | $8.0M | Reduce -46.7% |
| EVER Everquote Inc. Class A | 7.49% | 290,549 | $7.8M | Reduce -50.5% |
| STUB Stubhub Holdings Inc. Class A | 7.18% | 555,710 | $7.5M | Add +27.6% |
| WIX Wix.com Ltd. | 5.49% | 55,300 | $5.7M | New |
Portfolio Sells Q3 2025 → Q4 2025
| JAMF Jamf Holding Corp. | Sold out | 0.00% | −7.87 |
| ENPH Enphase Energy Inc. | Sold out | 0.00% | −7.07 |
| EVER Everquote Inc. Class A | Reduce -50.5% | 7.49% | −1.41 |
| TRIP Tripadvisor Inc. | Reduce -31.6% | 8.02% | −1.07 |
| PI Impinj Inc. | Reduce -31.8% | 11.43% | −0.64 |
| FN Fabrinet | Reduce -46.7% | 7.68% | −0.33 |
| HLIT Harmonic Inc. | Reduce -16.3% | 9.53% | +1.40 |
| AMPL Amplitude Inc. Class A | Reduce -20.1% | 8.58% | +1.69 |
| SITM Sitime Corp. | Reduce -26.2% | 10.16% | +2.01 |
| TWLO Twilio Inc. Class A | Reduce -40.6% | 14.22% | +2.53 |
Portfolio Buys Q3 2025 → Q4 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 |