Toronado Partners, LLC

Q3 2025 13F-HR Holdings

Location
San Francisco, CA
Holdings as of
9/30/2025
Date filed
11/13/2025
Form type
13F-HR
Num holdings
12
Total value ($000)
$150,863
Net value change ($000)
+9,970 (7.1%)
New positions
2
Sold out positions
1
Turnover %
12.9%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/13/2025 Next filing: 2/12/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
ENPH 10,666 NEW
STUB 7,331 NEW
AMPL 6,825 190.8%
JAMF 3,298 38.5%
HLIT 931 8.2%
TRIP 790 6.1%
EVER 574 4.5%
Top Reduces (Value $000, Stocks/ETFs)
FN -12,757 -51.3%
PI -3,711 -16.9%
ESTC -1,967 -15.2%
RSKD -1,433 -100.0%
SITM -349 -2.8%
TWLO -225 -1.3%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type