4D Advisors, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), 4D Advisors, LLC reported 33 stock positions worth $187.8 million. Its top holding was American Public Education (APEI) at 5.6% of the portfolio, followed by Turning Point Brands (TPB, 5.3%) and U.S. Physical Therapy (USPH, 5.0%). Compared with Q2 2025, it opened 13 new positions, sold out of 14, added to 8 and reduced 11. The biggest buy was a new position in U.S. Physical Therapy (USPH) and the biggest sale an exit from Masimo (MASI).
- Most Recent 13F
- Q2 2026
- Location
- REDONDO BEACH, CA
- CIK
- 0001938268
- Portfolio Value
- $187.8M (Q3 2025)
- SEC Filing
- 0001938268-25-000003 ↗ filed Nov 14, 2025
Holdings Value
Holdings 33 stocks · $187.8M
| APEI American Public Education | 5.57% | 265,000 | $10.5M | Reduce -7.0% |
| TPB Turning Point Brands Inc. | 5.26% | 100,000 | $9.9M | Reduce -55.0% |
| USPH U.S. Physical Therapy Inc. | 4.97% | 110,000 | $9.3M | New |
| SGHC Super Group SGHC Ltd. | 4.92% | 700,000 | $9.2M | New |
| ONTO Onto Innovation Inc. | 4.82% | 70,000 | $9.0M | Add +133.3% |
| AXON Axon Enterprise Inc. | 4.78% | 12,500 | $9.0M | No change |
| CELH Celsius Holdings Inc. | 4.59% | 150,000 | $8.6M | Reduce -14.3% |
| FICO Fair Isaac Corp. | 3.98% | 5,000 | $7.5M | New |
| VEEV Veeva Systems Inc. Class A | 3.97% | 25,000 | $7.4M | Add +25.0% |
| FSS Federal Signal Corp. | 3.48% | 55,000 | $6.5M | Reduce -31.3% |
| NEM Newmont Corp. | 3.37% | 75,000 | $6.3M | Reduce -25.0% |
| VECO Veeco Instruments Inc. | 3.24% | 200,000 | $6.1M | Add +17.6% |
| MPWR Monolithic Power Systems Inc. | 3.19% | 6,500 | $6.0M | Reduce -40.9% |
| BOOT Boot Barn Holdings Inc. | 3.09% | 35,000 | $5.8M | Add +40.0% |
| GWRE Guidewire Software Inc. | 3.06% | 25,000 | $5.7M | Add +25.0% |
| RAMP Liveramp Holdings Inc. | 2.89% | 200,000 | $5.4M | New |
| RXST Rxsight Inc. | 2.66% | 554,930 | $5.0M | Add +343.9% |
| TRNS Transcat Inc. | 2.53% | 65,000 | $4.8M | Add +85.7% |
| STRL Sterling Infrastructure Inc. | 2.53% | 14,000 | $4.8M | Reduce -53.3% |
| CDE Coeur Mining Inc. | 2.50% | 250,000 | $4.7M | Reduce -50.0% |
| CVCO Cavco Industries Inc. | 2.32% | 7,500 | $4.4M | New |
| NSSC Napco Security Technologies | 2.29% | 100,000 | $4.3M | New |
| MOD Modine Manufacturing Co. | 2.27% | 30,000 | $4.3M | New |
| BBSI Barrett Business SVCS Inc. | 2.24% | 95,000 | $4.2M | Reduce -5.0% |
| PWR Quanta Services Inc. | 2.21% | 10,000 | $4.1M | Reduce -33.3% |
| FIX Comfort Systems USA Inc. | 2.20% | 5,000 | $4.1M | Reduce -33.3% |
| GRBK Green Brick Partners Inc. | 1.97% | 50,000 | $3.7M | New |
| LSCC Lattice Semiconductor Corp. | 1.76% | 45,000 | $3.3M | New |
| EME Emcor Group Inc. | 1.73% | 5,000 | $3.2M | New |
| ESTA Establishment Labs Holdings | 1.64% | 75,000 | $3.1M | Add +15.4% |
| NGD New Gold Inc. | 1.53% | 400,000 | $2.9M | New |
| ALM Almonty Industries Inc. | 1.28% | 400,000 | $2.4M | New |
| LRN Stride Inc. | 1.19% | 15,000 | $2.2M | New |
Portfolio Sells Q2 2025 → Q3 2025
| MASI Masimo Corp. | Sold out | 0.00% | −4.07 |
| RSG Republic Services Inc. | Sold out | 0.00% | −3.98 |
| MTH Meritage Homes Corp. | Sold out | 0.00% | −3.96 |
| TPB Turning Point Brands Inc. | Reduce -55.0% | 5.26% | −3.78 |
| HNI Hni Corp. | Sold out | 0.00% | −3.04 |
| WCN Waste Connections Inc. | Sold out | 0.00% | −3.01 |
| FORM Formfactor Inc. | Sold out | 0.00% | −2.31 |
| DVA Davita Inc. | Sold out | 0.00% | −2.30 |
| LOPE Grand Canyon Education Inc. | Sold out | 0.00% | −2.29 |
| LAD Lithia Motors Inc. | Sold out | 0.00% | −2.27 |
| SHYF The Shyft Group Inc. | Sold out | 0.00% | −2.02 |
| BLBD Blue Bird Corp. | Sold out | 0.00% | −1.97 |
| GPI Group 1 Automotive Inc. | Sold out | 0.00% | −1.76 |
| ILMN Illumina Inc. | Sold out | 0.00% | −1.54 |
| STRL Sterling Infrastructure Inc. | Reduce -53.3% | 2.53% | −1.19 |
| MPWR Monolithic Power Systems Inc. | Reduce -40.9% | 3.19% | −1.14 |
| TECH Bio-Techne Corp. | Sold out | 0.00% | −1.11 |
| FSS Federal Signal Corp. | Reduce -31.3% | 3.48% | −1.09 |
| PWR Quanta Services Inc. | Reduce -33.3% | 2.21% | −0.84 |
| BBSI Barrett Business SVCS Inc. | Reduce -5.0% | 2.24% | +0.00 |
| FIX Comfort Systems USA Inc. | Reduce -33.3% | 2.20% | +0.03 |
| CDE Coeur Mining Inc. | Reduce -50.0% | 2.50% | +0.12 |
| CELH Celsius Holdings Inc. | Reduce -14.3% | 4.59% | +0.23 |
| NEM Newmont Corp. | Reduce -25.0% | 3.37% | +0.23 |
| APEI American Public Education | Reduce -7.0% | 5.57% | +0.90 |
Portfolio Buys Q2 2025 → Q3 2025
| USPH U.S. Physical Therapy Inc. | New | 4.97% | +4.97 |
| SGHC Super Group SGHC Ltd. | New | 4.92% | +4.92 |
| FICO Fair Isaac Corp. | New | 3.98% | +3.98 |
| ONTO Onto Innovation Inc. | Add +133.3% | 4.82% | +3.19 |
| RAMP Liveramp Holdings Inc. | New | 2.89% | +2.89 |
| CVCO Cavco Industries Inc. | New | 2.32% | +2.32 |
| NSSC Napco Security Technologies | New | 2.29% | +2.29 |
| MOD Modine Manufacturing Co. | New | 2.27% | +2.27 |
| GRBK Green Brick Partners Inc. | New | 1.97% | +1.97 |
| RXST Rxsight Inc. | Add +343.9% | 2.66% | +1.78 |
| LSCC Lattice Semiconductor Corp. | New | 1.76% | +1.76 |
| EME Emcor Group Inc. | New | 1.73% | +1.73 |
| NGD New Gold Inc. | New | 1.53% | +1.53 |
| VECO Veeco Instruments Inc. | Add +17.6% | 3.24% | +1.38 |
| ALM Almonty Industries Inc. | New | 1.28% | +1.28 |
| LRN Stride Inc. | New | 1.19% | +1.19 |
| BOOT Boot Barn Holdings Inc. | Add +40.0% | 3.09% | +1.04 |
| TRNS Transcat Inc. | Add +85.7% | 2.53% | +0.92 |
| VEEV Veeva Systems Inc. Class A | Add +25.0% | 3.97% | +0.87 |
| GWRE Guidewire Software Inc. | Add +25.0% | 3.06% | +0.53 |
| ESTA Establishment Labs Holdings | Add +15.4% | 1.64% | +0.14 |
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 |