Toronado Partners, LLC Concentrated Active

CIK: 0001749611 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 12, 2026

Total Value ($000): $104,671 (100.0% shares, 0.0% debt)

Holdings (11)

New Positions (1)

WIX WIX COM LTD 5.5%

Value ($000) $5,745 Shares 55,300 Est. Cost $120.92 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
WIX	WIX COM LTD	55,300	$5,745	5.5%	$120.92	0.0%	SHS	M98068105

Increased Positions (2)

ESTC ELASTIC N V 10.2%

Value ($000) $10,678 (-2.4%) Shares 141,548 (+9.3%) Est. Cost $85.60 Unrealized -4.7%

STUB STUBHUB HLDGS INC 7.2%

Value ($000) $7,519 (+2.6%) Shares 555,710 (+27.7%) Est. Cost $17.77 Unrealized -11.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ESTC	ELASTIC N V	141,548 (+9.3%)	$10,678 (-2.4%)	10.2%	$85.60	-4.7%	ORD SHS	N14506104
STUB	STUBHUB HLDGS INC	555,710 (+27.7%)	$7,519 (+2.6%)	7.2%	$17.77	-11.5%	CL A	86384P109

Exited Positions (2)

— JAMF HLDG CORP 11.3%

Value ($000) $11,869 Shares 1,109,255 Est. Cost $16.24 Unrealized —

ENPH ENPHASE ENERGY INC 10.2%

Value ($000) $10,666 Shares 301,379 Est. Cost $37.15 Unrealized -12.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	JAMF HLDG CORP	1,109,255	$11,869	11.3%	$16.24	—	—	47074L105
ENPH	ENPHASE ENERGY INC	301,379	$10,666	10.2%	$37.15	-12.8%	—	29355A107

Decreased Positions (8)

PI IMPINJ INC 11.4%

Value ($000) $11,968 (-34.3%) Shares 68,775 (-31.8%) Est. Cost $107.52 Unrealized +65.7%

EVER EVERQUOTE INC 7.5%

Value ($000) $7,845 (-41.6%) Shares 290,549 (-50.5%) Est. Cost $15.28 Unrealized +58.6%

TRIP TRIPADVISOR INC 8.0%

Value ($000) $8,397 (-38.8%) Shares 576,715 (-31.6%) Est. Cost $14.78 Unrealized +2.9%

FN FABRINET 7.7%

Value ($000) $8,043 (-33.5%) Shares 17,667 (-46.7%) Est. Cost $146.85 Unrealized +196.2%

TWLO TWILIO INC 14.2%

Value ($000) $14,887 (-15.6%) Shares 104,663 (-40.6%) Est. Cost $89.01 Unrealized +39.2%

HLIT HARMONIC INC 9.5%

Value ($000) $9,976 (-18.6%) Shares 1,008,690 (-16.3%) Est. Cost $12.99 Unrealized -22.5%

SITM SITIME CORP 10.2%

Value ($000) $10,632 (-13.5%) Shares 30,102 (-26.2%) Est. Cost $139.66 Unrealized +124.1%

AMPL AMPLITUDE INC 8.6%

Value ($000) $8,981 (-13.7%) Shares 775,573 (-20.1%) Est. Cost $11.55 Unrealized -8.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PI	IMPINJ INC	68,775 (-31.8%)	$11,968 (-34.3%)	11.4%	$107.52	+65.7%	COM	453204109
EVER	EVERQUOTE INC	290,549 (-50.5%)	$7,845 (-41.6%)	7.5%	$15.28	+58.6%	COM CL A	30041R108
TRIP	TRIPADVISOR INC	576,715 (-31.6%)	$8,397 (-38.8%)	8.0%	$14.78	+2.9%	COM	896945201
FN	FABRINET	17,667 (-46.7%)	$8,043 (-33.5%)	7.7%	$146.85	+196.2%	SHS	G3323L100
TWLO	TWILIO INC	104,663 (-40.6%)	$14,887 (-15.6%)	14.2%	$89.01	+39.2%	CL A	90138F102
HLIT	HARMONIC INC	1,008,690 (-16.3%)	$9,976 (-18.6%)	9.5%	$12.99	-22.5%	COM	413160102
SITM	SITIME CORP	30,102 (-26.2%)	$10,632 (-13.5%)	10.2%	$139.66	+124.1%	COM	82982T106
AMPL	AMPLITUDE INC	775,573 (-20.1%)	$8,981 (-13.7%)	8.6%	$11.55	-8.9%	COM CL A	03213A104