Toronado Partners 13F annual report

Toronado Partners is an investment fund managing more than $156 billion ran by Michele Clifford. There are currently 10 companies in Mrs. Clifford’s portfolio. The largest investments include Fabrinet and Harmonic, together worth $45.9 billion.

$156 billion Assets Under Management (AUM)

As of 6th August 2024, Toronado Partners’s top holding is 94,215 shares of Fabrinet currently worth over $23.1 billion and making up 14.8% of the portfolio value. Relative to the number of outstanding shares of Fabrinet, Toronado Partners owns more than approximately 0.1% of the company. In addition, the fund holds 1,939,573 shares of Harmonic worth $22.8 billion, whose value fell approximately 0.1% in the past six months. The third-largest holding is Elastic N.V worth $17.2 billion and the next is Jamf Hldg Corp worth $16.4 billion, with 993,614 shares owned.

Currently, Toronado Partners's portfolio is worth at least $156 billion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Toronado Partners

The Toronado Partners office and employees reside in San Francisco, California. According to the last 13-F report filed with the SEC, Michele Clifford serves as the Chief Compliance Officer at Toronado Partners.

Recent trades

In the most recent 13F filing, Toronado Partners revealed that it had increased its stake in Harmonic and bought 496,241 additional shares worth around $7 million. This means they effectively own approximately 0.1% of the company. Harmonic makes up 22.1% of the fund's Technology sector allocation and has decreased its share price by approximately 0.1% in the past year.

On the other hand, there are companies that Toronado Partners is getting rid of from its portfolio. Toronado Partners closed its position in Tenable Inc on 13th August 2024. It sold the previously owned 96,137 shares for $4.75 billion. Michele Clifford also disclosed a decreased stake in Fabrinet by 0.3%. This leaves the value of the investment at $23.1 billion and 94,215 shares.

One of the smallest hedge funds

The two most similar investment funds to Toronado Partners are Gray Private Wealth and Pelion. They manage $156 billion and $156 billion respectively.

Michele Clifford investment strategy

Toronado Partners’s portfolio is diversified across 3 sectors. Currently, their heaviest sector is Technology — making up 66.0% of the total portfolio value. The fund focuses on investments in the United States as 60.0% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up approximately 0.1% of the total holdings value. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. The average market cap of the portfolio companies is close to $3.46 billion.

The complete list of Toronado Partners trades based on 13F SEC filings

These positions were updated on August 13th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security	Shares Owned	Value	Allocation
Fabrinet	26.07% 94,215	$23,062,890,000	14.78%
Harmonic, Inc.	34.38% 1,939,573	$22,828,774,000	14.63%
Elastic N.V	2.53% 151,094	$17,211,118,000	11.03%
Jamf Hldg Corp	36.25% 993,614	$16,394,631,000	10.51%
Mitek Sys Inc	0.43% 1,210,407	$13,532,350,000	8.67%
EverQuote Inc	10.97% 644,986	$13,454,408,000	8.62%
Twilio Inc	26.23% 226,720	$12,879,963,000	8.25%
SiTime Corp	18.65% 102,832	$12,790,244,000	8.20%
Impinj Inc	63.76% 80,096	$12,556,650,000	8.05%
Riskified Ltd.	31.46% 1,775,504	$11,345,471,000	7.27%
Tenable Holdings Inc	Closed 96,137	$4,752,052,000
No transactions found
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