4D Advisors, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), 4D Advisors, LLC reported 34 stock positions worth $186.0 million. Its top holding was Turning Point Brands (TPB) at 9.0% of the portfolio, followed by Axon Enterprise (AXON, 5.6%) and American Public Education (APEI, 4.7%). Compared with Q1 2025, it opened 15 new positions, sold out of 13, added to 10 and reduced 7. The biggest buy was Turning Point Brands (TPB, shares +134%) and the biggest sale an exit from Waste Management (WM).
- Most Recent 13F
- Q2 2026
- Location
- REDONDO BEACH, CA
- CIK
- 0001938268
- Portfolio Value
- $186.0M (Q2 2025)
- SEC Filing
- 0001879202-25-000032 ↗ filed Aug 14, 2025
Holdings Value
Holdings 34 stocks · $186.0M
| TPB Turning Point Brands Inc. | 9.04% | 222,000 | $16.8M | Add +133.7% |
| AXON Axon Enterprise Inc. | 5.56% | 12,500 | $10.3M | Reduce -21.9% |
| APEI American Public Education | 4.67% | 285,000 | $8.7M | Add +111.1% |
| FSS Federal Signal Corp. | 4.58% | 80,000 | $8.5M | Add +77.8% |
| CELH Celsius Holdings Inc. | 4.36% | 175,000 | $8.1M | Add +16.7% |
| MPWR Monolithic Power Systems Inc. | 4.33% | 11,000 | $8.0M | Add +266.7% |
| MASI Masimo Corp. | 4.07% | 45,000 | $7.6M | Add +50.0% |
| RSG Republic Services Inc. | 3.98% | 30,000 | $7.4M | No change |
| MTH Meritage Homes Corp. | 3.96% | 110,000 | $7.4M | Add +450.0% |
| STRL Sterling Infrastructure Inc. | 3.72% | 30,000 | $6.9M | New |
| NEM Newmont Corp. | 3.13% | 100,000 | $5.8M | New |
| VEEV Veeva Systems Inc. Class A | 3.10% | 20,000 | $5.8M | Reduce -20.0% |
| PWR Quanta Services Inc. | 3.05% | 15,000 | $5.7M | Reduce -25.0% |
| HNI Hni Corp. | 3.04% | 115,000 | $5.7M | New |
| WCN Waste Connections Inc. | 3.01% | 30,000 | $5.6M | New |
| GWRE Guidewire Software Inc. | 2.53% | 20,000 | $4.7M | New |
| CDE Coeur Mining Inc. | 2.38% | 500,000 | $4.4M | New |
| FORM Formfactor Inc. | 2.31% | 125,000 | $4.3M | New |
| DVA Davita Inc. | 2.30% | 30,000 | $4.3M | Reduce -7.7% |
| LOPE Grand Canyon Education Inc. | 2.29% | 22,500 | $4.3M | Reduce -38.4% |
| LAD Lithia Motors Inc. | 2.27% | 12,500 | $4.2M | New |
| BBSI Barrett Business SVCS Inc. | 2.24% | 100,000 | $4.2M | No change |
| FIX Comfort Systems USA Inc. | 2.16% | 7,500 | $4.0M | Reduce -25.0% |
| BOOT Boot Barn Holdings Inc. | 2.04% | 25,000 | $3.8M | Add +25.0% |
| SHYF The Shyft Group Inc. | 2.02% | 300,000 | $3.8M | New |
| BLBD Blue Bird Corp. | 1.97% | 85,000 | $3.7M | Add +54.5% |
| VECO Veeco Instruments Inc. | 1.86% | 170,000 | $3.5M | New |
| GPI Group 1 Automotive Inc. | 1.76% | 7,500 | $3.3M | Reduce -25.0% |
| ONTO Onto Innovation Inc. | 1.63% | 30,000 | $3.0M | New |
| TRNS Transcat Inc. | 1.62% | 35,000 | $3.0M | New |
| ILMN Illumina Inc. | 1.54% | 30,000 | $2.9M | New |
| ESTA Establishment Labs Holdings | 1.49% | 65,000 | $2.8M | New |
| TECH Bio-Techne Corp. | 1.11% | 40,000 | $2.1M | New |
| RXST Rxsight Inc. | 0.87% | 125,000 | $1.6M | Add +92.3% |
Portfolio Sells Q1 2025 → Q2 2025
| WM Waste Management Inc. | Sold out | 0.00% | −11.24 |
| KNF Knife River Corp. | Sold out | 0.00% | −3.85 |
| AAON Aaon Inc. | Sold out | 0.00% | −3.34 |
| TDW Tidewater Inc. | Sold out | 0.00% | −3.12 |
| APG Api Group Corp. | Sold out | 0.00% | −3.06 |
| LOPE Grand Canyon Education Inc. | Reduce -38.4% | 2.29% | −2.62 |
| AR Antero Resources Corp. | Sold out | 0.00% | −2.36 |
| USPH U.S. Physical Therapy Inc. | Sold out | 0.00% | −1.97 |
| SKY Champion Homes Inc. | Sold out | 0.00% | −1.84 |
| SLQT Selectquote Inc. | Sold out | 0.00% | −1.69 |
| DVA Davita Inc. | Reduce -7.7% | 2.30% | −1.56 |
| GOCOQ Gohealth Inc. Class A | Sold out | 0.00% | −1.43 |
| VEEV Veeva Systems Inc. Class A | Reduce -20.0% | 3.10% | −1.40 |
| GRBK Green Brick Partners Inc. | Sold out | 0.00% | −1.36 |
| SWIM Latham Group Inc. | Sold out | 0.00% | −1.32 |
| CSW CSW Industrials Inc. | Sold out | 0.00% | −1.25 |
| GPI Group 1 Automotive Inc. | Reduce -25.0% | 1.76% | −1.21 |
| AXON Axon Enterprise Inc. | Reduce -21.9% | 5.56% | −0.97 |
| PWR Quanta Services Inc. | Reduce -25.0% | 3.05% | −0.90 |
| FIX Comfort Systems USA Inc. | Reduce -25.0% | 2.16% | −0.34 |
Portfolio Buys Q1 2025 → Q2 2025
| TPB Turning Point Brands Inc. | Add +133.7% | 9.04% | +4.66 |
| STRL Sterling Infrastructure Inc. | New | 3.72% | +3.72 |
| NEM Newmont Corp. | New | 3.13% | +3.13 |
| HNI Hni Corp. | New | 3.04% | +3.04 |
| WCN Waste Connections Inc. | New | 3.01% | +3.01 |
| MPWR Monolithic Power Systems Inc. | Add +266.7% | 4.33% | +2.97 |
| MTH Meritage Homes Corp. | Add +450.0% | 3.96% | +2.86 |
| GWRE Guidewire Software Inc. | New | 2.53% | +2.53 |
| CDE Coeur Mining Inc. | New | 2.38% | +2.38 |
| APEI American Public Education | Add +111.1% | 4.67% | +2.33 |
| FORM Formfactor Inc. | New | 2.31% | +2.31 |
| LAD Lithia Motors Inc. | New | 2.27% | +2.27 |
| SHYF The Shyft Group Inc. | New | 2.02% | +2.02 |
| FSS Federal Signal Corp. | Add +77.8% | 4.58% | +2.01 |
| VECO Veeco Instruments Inc. | New | 1.86% | +1.86 |
| ONTO Onto Innovation Inc. | New | 1.63% | +1.63 |
| TRNS Transcat Inc. | New | 1.62% | +1.62 |
| ILMN Illumina Inc. | New | 1.54% | +1.54 |
| ESTA Establishment Labs Holdings | New | 1.49% | +1.49 |
| TECH Bio-Techne Corp. | New | 1.11% | +1.11 |
| BLBD Blue Bird Corp. | Add +54.5% | 1.97% | +0.59 |
| BOOT Boot Barn Holdings Inc. | Add +25.0% | 2.04% | +0.37 |
| CELH Celsius Holdings Inc. | Add +16.7% | 4.36% | +0.21 |
| MASI Masimo Corp. | Add +50.0% | 4.07% | +0.19 |
| RXST Rxsight Inc. | Add +92.3% | 0.87% | −0.40 |
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 |