Grandeur Peak Global Advisors, LLC

Name: Grandeur Peak Global Advisors, LLC 13F holdings, Q1 2025
Creator: Grandeur Peak Global Advisors, LLC
Published: 2025-05-15

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Grandeur Peak Global Advisors, LLC reported 112 stock positions worth $901.8 million. Its top holding was Jfrog (FROG) at 6.7% of the portfolio, followed by Marex UK (MRX, 5.1%) and BBB Foods Class A (TBBB, 4.8%). Compared with Q4 2024, it opened 5 new positions, sold out of 19, added to 39 and reduced 59. The biggest buy was Bruker (BRKR, shares +1677%) and the biggest sale Lululemon Athletica (LULU, shares −32%).

Most Recent 13F: Q2 2026
Location: SALT LAKE CITY, UT
CIK: 0001569137
Portfolio Value: $901.8M (Q1 2025)
SEC Filing: 0001569137-25-000004 ↗ filed May 15, 2025

Holdings Value

Holdings 112 stocks · $901.8M


FROG Jfrog Ltd.	6.72%	1,892,767	$60.6M	Reduce -22.4%
MRX Marex UK Holdings Ltd. filed as MAREX GROUP PLC	5.07%	1,295,176	$45.7M	Add +19.2%
TBBB BBB Foods Inc. Class A	4.76%	1,610,159	$43.0M	Add +14.0%
LULU Lululemon Athletica Inc.	4.68%	149,202	$42.2M	Reduce -31.5%
CYBR Cyberark Software Ltd./Israel	4.67%	124,616	$42.1M	Reduce -5.2%
MPWR Monolithic Power Systems Inc.	4.65%	72,264	$41.9M	Add +16.3%
ICLR Icon PLC	4.64%	239,042	$41.8M	Add +64.5%
GLOB Globant SA	4.09%	313,147	$36.9M	Reduce -7.8%
BRKR Bruker Corp.	3.32%	718,102	$30.0M	Add +1677.3%
ESTC Elastic NV	2.96%	299,332	$26.7M	Reduce -24.6%
DSGX The Descartes Systems Grp	2.93%	262,825	$26.5M	Add +9.6%
LFUS Littelfuse Inc.	2.66%	122,013	$24.0M	Reduce -18.6%
PAX Patria Investments Ltd. Class A	2.03%	1,624,420	$18.3M	Reduce -28.8%
NVT Nvent Electric PLC	1.86%	320,848	$16.8M	Add +34.2%
STN Stantec Inc.	1.78%	193,900	$16.1M	Reduce -6.2%
RPC Ridgepost Capital Inc. Class A filed as P10 INC	1.63%	1,254,465	$14.7M	Reduce -1.1%
CNM Core & Main Inc. Class A	1.49%	277,325	$13.4M	Reduce -17.6%
NET Cloudflare Inc. Class A	1.44%	115,526	$13.0M	Reduce -55.2%
GO Grocery Outlet Holding Corp.	1.43%	923,072	$12.9M	Add +2.7%
PRIM Primoris Services Corp.	1.22%	191,060	$11.0M	Add +9.2%
PWP Perella Weinberg Partners	1.21%	592,553	$10.9M	Reduce -3.4%
YETI Yeti Holdings Inc. filed as YETI HLDGS INC	1.21%	328,473	$10.9M	Reduce -3.6%
HQY Healthequity Inc.	1.16%	118,545	$10.5M	Reduce -9.1%
CWAN Clearwater Analytics HDS-A	1.15%	388,603	$10.4M	Reduce -9.1%
SPSC SPS Commerce Inc.	1.12%	75,975	$10.1M	Add +52.4%
FIVE Five Below	1.03%	124,374	$9.3M	Reduce -6.2%
BURL Burlington Stores Inc.	0.99%	37,429	$8.9M	Reduce -16.9%
ALG Alamo Group Inc.	0.95%	48,008	$8.6M	Reduce -20.0%
DAVA Endava PLC- Spon ADR	0.87%	400,205	$7.8M	Reduce -7.8%
SLAB Silicon Laboratories Inc.	0.85%	68,369	$7.7M	Reduce -34.4%
EPAC Enerpac Tool Group Corp.	0.85%	170,309	$7.6M	Reduce -18.3%
IBP Installed Building Products	0.84%	44,160	$7.6M	New
HCKT The Hackett Group Inc.	0.84%	257,823	$7.5M	Reduce -2.2%
MAMA Mama's Creations Inc.	0.77%	1,066,924	$6.9M	Add +126.6%
PNTG The Pennant Group Inc.	0.75%	268,659	$6.8M	Add +10.2%
NVEE NV5 Global Inc.	0.74%	345,602	$6.7M	Reduce -12.0%
ENSG The Ensign Group Inc.	0.73%	50,767	$6.6M	Reduce -25.1%
DOCN Digitalocean Holdings Inc.	0.71%	192,318	$6.4M	Reduce -26.1%
MKTX Marketaxess Holdings Inc.	0.69%	28,621	$6.2M	Add +175.9%
NEOG Neogen Corp.	0.68%	703,385	$6.1M	Add +210.9%
ESQ Esquire Financial Holdings I	0.67%	80,041	$6.0M	Reduce -3.5%
MEDP Medpace Holdings Inc.	0.62%	18,288	$5.6M	Reduce -35.3%
GSHD Goosehead Insurance Inc. Class A	0.62%	46,999	$5.5M	Reduce -27.3%
GIC Global Industrial Co.	0.61%	246,963	$5.5M	Add +11.6%
TXRH Texas Roadhouse Inc.	0.60%	32,524	$5.4M	Add +0.9%
QLYS Qualys Inc.	0.59%	42,371	$5.3M	Reduce -24.3%
BOOT Boot Barn Holdings Inc.	0.57%	47,796	$5.1M	Reduce -0.8%
GNTX Gentex Corp.	0.57%	219,781	$5.1M	Add +267.7%
VTMX Corp. Inmobiliaria Vesta-ADR filed as VESTA REAL ESTATE CORP	0.55%	219,190	$5.0M	Reduce -16.9%
RYAN Ryan Specialty Holdings Inc.	0.54%	65,945	$4.9M	Add +0.0%
PJT PJT Partners Inc. Class A	0.53%	34,949	$4.8M	Reduce -2.9%
UPWK Upwork Inc.	0.53%	365,115	$4.8M	Add +62.9%
TW Tradeweb Markets Inc. Class A	0.52%	31,714	$4.7M	Reduce -19.7%
MOD Modine Manufacturing Co.	0.51%	60,275	$4.6M	Add +40.8%
SKX Skechers USA Inc. Class A	0.46%	73,442	$4.2M	Reduce -5.2%
KLIC Kulicke & Soffa Industries	0.44%	121,148	$4.0M	No change
ARES Ares Management Corp. Class A	0.44%	26,850	$3.9M	Reduce -27.7%
ZS Zscaler Inc.	0.42%	19,022	$3.8M	Reduce -27.3%
BWMN Bowman Consulting Group Ltd.	0.38%	156,759	$3.4M	Reduce -1.6%
TPG TPG Inc.	0.37%	69,871	$3.3M	Add +42.1%
SITM Sitime Corp.	0.35%	20,738	$3.2M	Reduce -27.8%
BBSI Barrett Business SVCS Inc.	0.35%	76,544	$3.1M	Reduce -8.0%
MANH Manhattan Associates Inc.	0.34%	17,504	$3.0M	Add +41.8%
VVV Valvoline Inc.	0.33%	85,424	$3.0M	New
IDXX Idexx Laboratories Inc.	0.32%	6,843	$2.9M	Add +10.2%
TREX Trex Company Inc.	0.32%	49,052	$2.8M	Add +34.9%
TECH Bio-Techne Corp.	0.31%	48,375	$2.8M	Add +843.9%
DG Dollar General Corp.	0.31%	31,383	$2.8M	Add +7.3%
WAL Western Alliance Bancorp	0.30%	34,639	$2.7M	No change
RXST Rxsight Inc.	0.28%	99,179	$2.5M	Add +17.3%
DT Dynatrace Inc.	0.27%	51,898	$2.4M	Add +565.2%
DXCM Dexcom Inc.	0.24%	31,316	$2.1M	Reduce -50.6%
REXR Rexford Industrial Realty Inc.	0.23%	53,657	$2.1M	Reduce -52.4%
HLI Houlihan Lokey Inc.	0.21%	11,997	$1.9M	Add +5.7%
BUR Burford Capital Ltd.	0.21%	142,966	$1.9M	Reduce -18.2%
ABX Abacus Global Management Inc.	0.16%	193,201	$1.4M	New
BRBR Bellring Brands Inc.	0.16%	18,884	$1.4M	New
FORM Formfactor Inc.	0.15%	48,698	$1.4M	Reduce -46.2%
FRPT Freshpet Inc.	0.15%	15,966	$1.3M	Add +382.9%
HLNE Hamilton Lane Inc. Class A	0.14%	8,605	$1.3M	Reduce -44.5%
PLBC Plumas Bancorp	0.14%	29,339	$1.3M	Add +10.0%
PWR Quanta Services Inc.	0.13%	4,772	$1.2M	Add +42.2%
MSCI MSCI Inc.	0.13%	2,110	$1.2M	Add +5.3%
MBUU Malibu Boats Inc. Class A	0.13%	38,105	$1.2M	Add +0.5%
OLLI Ollie's Bargain Outlet Holdi	0.13%	9,913	$1.2M	Reduce -87.2%
MORN Morningstar Inc.	0.13%	3,815	$1.1M	Reduce -41.3%
SHLS Shoals Technologies Group -A	0.10%	283,154	$940K	Reduce -34.4%
HDB HDFC Bank Ltd.-ADR	0.10%	13,554	$901K	Reduce -84.8%
MRVL Marvell Technology Inc.	0.09%	13,626	$839K	Add +40.6%
LOAR Loar Holdings Inc.	0.09%	11,473	$811K	Add +15.2%
NSP Insperity Inc.	0.09%	8,866	$791K	Reduce -79.5%
ULTA Ulta Beauty Inc.	0.09%	2,157	$791K	Reduce -38.0%
STVN Stevanato Group SPA	0.09%	37,587	$768K	Reduce -95.2%
OWL Blue Owl Capital Inc.	0.07%	30,241	$606K	Reduce -54.9%
KRUS Kura Sushi USA Inc. Class A	0.07%	11,667	$597K	New
IRMD Iradimed Corp.	0.07%	11,273	$592K	Add +115.5%
BELFB Bel Fuse Inc. Class B	0.06%	7,406	$554K	No change
CPNG Coupang Inc.	0.06%	24,341	$534K	Reduce -73.2%
WIX Wix.com Ltd.	0.06%	3,077	$503K	No change
MNDY Monday.com Ltd.	0.06%	2,057	$500K	Reduce -12.5%
STAA Staar Surgical Co.	0.05%	25,439	$448K	Add +31.5%
S Sentinelone Inc. Class A	0.05%	24,087	$438K	Add +15.8%
TMCI Treace Medical Concepts Inc.	0.04%	45,630	$383K	No change
FIGS Figs Inc. Class A	0.03%	51,813	$238K	Reduce -29.4%
JYNT The Joint Corp.	0.02%	17,690	$221K	No change
LOVE The Lovesac Co.	0.02%	11,039	$201K	No change
ETSY Etsy Inc.	0.02%	3,321	$157K	Reduce -64.0%
QGEN Qiagen NV	0.02%	3,481	$140K	Reduce -99.0%
DCBO Docebo Inc.	0.01%	4,525	$130K	Reduce -60.7%
PODD Insulet Corp.	0.01%	432	$113K	Reduce -83.2%
BILL Bill Holdings Inc.	0.01%	2,310	$106K	No change
POOL Pool Corp.	0.01%	306	$97K	No change

Portfolio Sells Q4 2024 → Q1 2025


LULU Lululemon Athletica Inc.	Reduce -31.5%	4.68%	−2.71
GLOB Globant SA	Reduce -7.8%	4.09%	−2.37
STVN Stevanato Group SPA	Reduce -95.2%	0.09%	−1.42
QGEN Qiagen NV	Reduce -99.0%	0.02%	−1.40
NET Cloudflare Inc. Class A	Reduce -55.2%	1.44%	−1.02
ATRC Atricure Inc.	Sold out	0.00%	−0.66
OLLI Ollie's Bargain Outlet Holdi	Reduce -87.2%	0.13%	−0.63
ESTC Elastic NV	Reduce -24.6%	2.96%	−0.53
VINP Vinci Compass Investments LT	Sold out	0.00%	−0.52
CRL Charles River Laboratories	Sold out	0.00%	−0.49
LFUS Littelfuse Inc.	Reduce -18.6%	2.66%	−0.47
HRI Herc Holdings Inc.	Sold out	0.00%	−0.44
HDB HDFC Bank Ltd.-ADR	Reduce -84.8%	0.10%	−0.41
DAVA Endava PLC- Spon ADR	Reduce -7.8%	0.87%	−0.32
PD Pagerduty Inc.	Sold out	0.00%	−0.32
PAX Patria Investments Ltd. Class A	Reduce -28.8%	2.03%	−0.32
EME Emcor Group Inc.	Sold out	0.00%	−0.30
SLAB Silicon Laboratories Inc.	Reduce -34.4%	0.85%	−0.30
VRT Vertiv Holdings Co. Class A	Sold out	0.00%	−0.24
MEDP Medpace Holdings Inc.	Reduce -35.3%	0.62%	−0.22
KKR KKR & Co. Inc.	Sold out	0.00%	−0.21
NSP Insperity Inc.	Reduce -79.5%	0.09%	−0.21
FIVE Five Below	Reduce -6.2%	1.03%	−0.20
FORM Formfactor Inc.	Reduce -46.2%	0.15%	−0.20
DXCM Dexcom Inc.	Reduce -50.6%	0.24%	−0.20
SITM Sitime Corp.	Reduce -27.8%	0.35%	−0.20
APO Apollo Global Management Inc.	Sold out	0.00%	−0.17
WHD Cactus Inc. Class A	Sold out	0.00%	−0.17
XP XP Inc. Class A	Sold out	0.00%	−0.16
REXR Rexford Industrial Realty Inc.	Reduce -52.4%	0.23%	−0.15
BURL Burlington Stores Inc.	Reduce -16.9%	0.99%	−0.15
ARES Ares Management Corp. Class A	Reduce -27.7%	0.44%	−0.15
GWW WW Grainger Inc.	Sold out	0.00%	−0.13
CPNG Coupang Inc.	Reduce -73.2%	0.06%	−0.12
HCSG Healthcare Services Group	Sold out	0.00%	−0.11
SHLS Shoals Technologies Group -A	Reduce -34.4%	0.10%	−0.11
CRWD CrowdStrike Holdings Inc. Class A	Sold out	0.00%	−0.11
QLYS Qualys Inc.	Reduce -24.3%	0.59%	−0.10
FND Floor & Decor Holdings Inc. Class A	Sold out	0.00%	−0.10
PWP Perella Weinberg Partners	Reduce -3.4%	1.21%	−0.09
BOOT Boot Barn Holdings Inc.	Reduce -0.8%	0.57%	−0.08
DOCN Digitalocean Holdings Inc.	Reduce -26.1%	0.71%	−0.08
OWL Blue Owl Capital Inc.	Reduce -54.9%	0.07%	−0.07
ENSG The Ensign Group Inc.	Reduce -25.1%	0.73%	−0.07
MORN Morningstar Inc.	Reduce -41.3%	0.13%	−0.07
URI United Rentals Inc.	Sold out	0.00%	−0.06
HLNE Hamilton Lane Inc. Class A	Reduce -44.5%	0.14%	−0.06
ALGN Align Technology Inc.	Sold out	0.00%	−0.06
DDOG Datadog Inc. Class A	Sold out	0.00%	−0.05
PODD Insulet Corp.	Reduce -83.2%	0.01%	−0.05

Portfolio Buys Q4 2024 → Q1 2025


BRKR Bruker Corp.	Add +1677.3%	3.32%	+3.11
MRX Marex UK Holdings Ltd.	Add +19.2%	5.07%	+2.07
ICLR Icon PLC	Add +64.5%	4.64%	+1.93
MPWR Monolithic Power Systems Inc.	Add +16.3%	4.65%	+1.39
TBBB BBB Foods Inc. Class A	Add +14.0%	4.76%	+1.22
IBP Installed Building Products	New	0.84%	+0.84
DSGX The Descartes Systems Grp	Add +9.6%	2.93%	+0.52
MKTX Marketaxess Holdings Inc.	Add +175.9%	0.69%	+0.48
MAMA Mama's Creations Inc.	Add +126.6%	0.77%	+0.44
NEOG Neogen Corp.	Add +210.9%	0.68%	+0.43
NVT Nvent Electric PLC	Add +34.2%	1.86%	+0.42
GNTX Gentex Corp.	Add +267.7%	0.57%	+0.42
VVV Valvoline Inc.	New	0.33%	+0.33
SPSC SPS Commerce Inc.	Add +52.4%	1.12%	+0.30
TECH Bio-Techne Corp.	Add +843.9%	0.31%	+0.28
DT Dynatrace Inc.	Add +565.2%	0.27%	+0.23
UPWK Upwork Inc.	Add +62.9%	0.53%	+0.20
GO Grocery Outlet Holding Corp.	Add +2.7%	1.43%	+0.19
PNTG The Pennant Group Inc.	Add +10.2%	0.75%	+0.18
RYAN Ryan Specialty Holdings Inc.	Add +0.0%	0.54%	+0.16
ABX Abacus Global Management Inc.	New	0.16%	+0.16
BRBR Bellring Brands Inc.	New	0.16%	+0.16
GIC Global Industrial Co.	Add +11.6%	0.61%	+0.13
DG Dollar General Corp.	Add +7.3%	0.31%	+0.11
FRPT Freshpet Inc.	Add +382.9%	0.15%	+0.10
TPG TPG Inc.	Add +42.1%	0.37%	+0.09
TREX Trex Company Inc.	Add +34.9%	0.32%	+0.09
IDXX Idexx Laboratories Inc.	Add +10.2%	0.32%	+0.09
TXRH Texas Roadhouse Inc.	Add +0.9%	0.60%	+0.09
MOD Modine Manufacturing Co.	Add +40.8%	0.51%	+0.07
KRUS Kura Sushi USA Inc. Class A	New	0.07%	+0.07
PWR Quanta Services Inc.	Add +42.2%	0.13%	+0.04
IRMD Iradimed Corp.	Add +115.5%	0.07%	+0.04
HLI Houlihan Lokey Inc.	Add +5.7%	0.21%	+0.04
MANH Manhattan Associates Inc.	Add +41.8%	0.34%	+0.04
PRIM Primoris Services Corp.	Add +9.2%	1.22%	+0.03
PLBC Plumas Bancorp	Add +10.0%	0.14%	+0.03
MSCI MSCI Inc.	Add +5.3%	0.13%	+0.03
LOAR Loar Holdings Inc.	Add +15.2%	0.09%	+0.02
RXST Rxsight Inc.	Add +17.3%	0.28%	+0.02
STAA Staar Surgical Co.	Add +31.5%	0.05%	+0.01
S Sentinelone Inc. Class A	Add +15.8%	0.05%	+0.01
MBUU Malibu Boats Inc. Class A	Add +0.5%	0.13%	+0.00
MRVL Marvell Technology Inc.	Add +40.6%	0.09%	−0.00

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026Amended	75	$432.1M	KAI, MPWR, ITT, NVT, TBBB
Q1 2026	86	$426.8M	MRX, MPWR, TBBB, KAI, ITT
Q4 2025	102	$742.8M	FROG, MRX, MPWR, TBBB, DSGX
Q3 2025	104	$745.4M	MPWR, FROG, MRX, TBBB, DSGX
Q2 2025	104	$829.9M	FROG, MRX, MPWR, CYBR, TBBB
Q1 2025	112	$901.8M	FROG, MRX, TBBB, LULU, CYBR
Q4 2024	126	$1.1B	LULU, GLOB, FROG, CYBR, TBBB
Q3 2024	133	$1.2B	GLOB, FROG, LULU, LFUS, CYBR
Q2 2024	131	$1.3B	FROG, MPWR, GLOB, LFUS, ICLR
Q1 2024	121	$1.3B	FROG, GLOB, MPWR, ICLR, LFUS