In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), 4D Advisors, LLC reported 32 stock positions worth $128.7 million . Its top holding was Waste Management (WM) at 11.2% of the portfolio, followed by Axon Enterprise (AXON, 6.5% ) and Republic Services (RSG, 5.6% ). Compared with Q4 2024, it opened 15 new positions, sold out of 17, added to 7 and reduced 10. The biggest buy was a new position in Republic Services (RSG) and the biggest sale an exit from Tandem Diabetes Care (TNDM).
Location REDONDO BEACH, CA
CIK 0001938268
Portfolio Value $128.7M (Q1 2025) Holdings 32 stocks · $128.7M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2024 WM Waste Management Inc. 62,500 $14.5M Add +56.3% AXON Axon Enterprise Inc. 16,000 $8.4M Add +6.7% RSG Republic Services Inc. 30,000 $7.3M New LOPE Grand Canyon Education Inc. 36,500 $6.3M New VEEV Veeva Systems Inc. Class A 25,000 $5.8M Add +25.0% TPB Turning Point Brands Inc. 95,000 $5.6M New CELH Celsius Holdings Inc. 150,000 $5.3M New PWR Quanta Services Inc. 20,000 $5.1M New MASI Masimo Corp. 30,000 $5.0M New DVA Davita Inc. 32,500 $5.0M New KNF Knife River Corp. 55,000 $5.0M Reduce -45.0% AAON Aaon Inc. 55,000 $4.3M Add +175.0% BBSI Barrett Business SVCS Inc. 100,000 $4.1M Reduce -20.0% TDW Tidewater Inc. 95,000 $4.0M New APG Api Group Corp. 110,000 $3.9M New GPI Group 1 Automotive Inc. 10,000 $3.8M Reduce -50.0% FSS Federal Signal Corp. 45,000 $3.3M Reduce -10.0% FIX Comfort Systems USA Inc. 10,000 $3.2M Add +17.6% AR Antero Resources Corp. 75,000 $3.0M New APEI American Public Education 135,000 $3.0M New USPH U.S. Physical Therapy Inc. 35,000 $2.5M New SKY Champion Homes Inc. 25,000 $2.4M New SLQT Selectquote Inc. 650,000 $2.2M Add +18.2% BOOT Boot Barn Holdings Inc. 20,000 $2.1M Reduce -42.9% GOCOQ Gohealth Inc. Class A 150,000 $1.8M New BLBD Blue Bird Corp. 55,000 $1.8M New GRBK Green Brick Partners Inc. 30,000 $1.7M Reduce -50.0% MPWR Monolithic Power Systems Inc. 3,000 $1.7M Reduce -64.7% SWIM Latham Group Inc. 265,000 $1.7M Reduce -47.0% RXST Rxsight Inc. 65,000 $1.6M Add +18.2% CSW CSW Industrials Inc. 5,500 $1.6M Reduce -15.4% MTH Meritage Homes Corp. 20,000 $1.4M Reduce -50.0%
Portfolio Sells Q4 2024 → Q1 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▲ TNDM Tandem Diabetes Care Inc. Sold out 0.00% −5.05 DXCM Dexcom Inc. Sold out 0.00% −4.09 TER Teradyne Inc. Sold out 0.00% −3.53 KNF Knife River Corp. Reduce -45.0% 3.85% −3.28 TLN Talen Energy Corp. Sold out 0.00% −3.18 GPI Group 1 Automotive Inc. Reduce -50.0% 2.97% −2.95 ONTO Onto Innovation Inc. Sold out 0.00% −2.92 EEFT Euronet Worldwide Inc. Sold out 0.00% −2.89 ESTA Establishment Labs Holdings Sold out 0.00% −2.75 LRCX Lam Research Corp. Sold out 0.00% −2.53 MITK Mitek Systems Inc. Sold out 0.00% −2.34 NPKI NPK International Inc. Sold out 0.00% −2.23 MPWR Monolithic Power Systems Inc. Reduce -64.7% 1.35% −2.18 BOOT Boot Barn Holdings Inc. Reduce -42.9% 1.67% −2.06 LAD Lithia Motors Inc. Sold out 0.00% −1.88 COHU Cohu Inc. Sold out 0.00% −1.87 AEIS Advanced Energy Industries Sold out 0.00% −1.83 ACA Arcosa Inc. Sold out 0.00% −1.70 XPOF Xponential Fitness Inc. Class A Sold out 0.00% −1.42 FOXF Fox Factory Holding Corp. Sold out 0.00% −1.27 SWIM Latham Group Inc. Reduce -47.0% 1.32% −1.12 MTH Meritage Homes Corp. Reduce -50.0% 1.10% −1.06 GRBK Green Brick Partners Inc. Reduce -50.0% 1.36% −1.02 AMWL American Well Corp. Class A Sold out 0.00% −0.76 FSS Federal Signal Corp. Reduce -10.0% 2.57% −0.67 BBSI Barrett Business SVCS Inc. Reduce -20.0% 3.20% −0.61 CSW CSW Industrials Inc. Reduce -15.4% 1.25% −0.36
Portfolio Buys Q4 2024 → Q1 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▼ RSG Republic Services Inc. New 5.64% +5.64 WM Waste Management Inc. Add +56.3% 11.24% +5.58 LOPE Grand Canyon Education Inc. New 4.91% +4.91 TPB Turning Point Brands Inc. New 4.39% +4.39 CELH Celsius Holdings Inc. New 4.15% +4.15 PWR Quanta Services Inc. New 3.95% +3.95 MASI Masimo Corp. New 3.88% +3.88 DVA Davita Inc. New 3.86% +3.86 TDW Tidewater Inc. New 3.12% +3.12 APG Api Group Corp. New 3.06% +3.06 AR Antero Resources Corp. New 2.36% +2.36 APEI American Public Education New 2.34% +2.34 USPH U.S. Physical Therapy Inc. New 1.97% +1.97 SKY Champion Homes Inc. New 1.84% +1.84 AAON Aaon Inc. Add +175.0% 3.34% +1.69 VEEV Veeva Systems Inc. Class A Add +25.0% 4.50% +1.55 GOCOQ Gohealth Inc. Class A New 1.43% +1.43 BLBD Blue Bird Corp. New 1.38% +1.38 AXON Axon Enterprise Inc. Add +6.7% 6.54% +0.28 SLQT Selectquote Inc. Add +18.2% 1.69% +0.25 FIX Comfort Systems USA Inc. Add +17.6% 2.50% −0.02 RXST Rxsight Inc. Add +18.2% 1.28% −0.05
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ SLQT Selectquote Inc. call Sold out 250,000 $930Kbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 37 $260.3M KNX, JBHT, ARCB, AXON, CLH Q1 2026 34 $157.8M WM, APEI, JBHT, ODFL, PR Q4 2025 37 $182.5M TPB, CWST, FSS, AXON, FICO Q3 2025 33 $187.8M APEI, TPB, USPH, SGHC, ONTO Q2 2025 34 $186.0M TPB, AXON, APEI, FSS, CELH Q1 2025 32 $128.7M WM, AXON, RSG, LOPE, VEEV Q4 2024 34 $142.5M KNF, AXON, GPI, WM, TNDM