Grandeur Peak Global Advisors, LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Grandeur Peak Global Advisors, LLC reported 104 stock positions worth $829.9 million. Its top holding was Jfrog (FROG) at 7.1% of the portfolio, followed by Marex UK (MRX, 7.1%) and Monolithic Power Systems (MPWR, 6.0%). Compared with Q1 2025, it opened 12 new positions, sold out of 20, added to 34 and reduced 51. The biggest buy was Marex UK (MRX, shares +15%) and the biggest sale an exit from Globant (GLOB).

Most Recent 13F
Q2 2026
Location
SALT LAKE CITY, UT
CIK
0001569137
Portfolio Value
$829.9M (Q2 2025)
SEC Filing
0001569137-25-000007 ↗ filed Aug 13, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $1.3B Q1 2024 Q2 2024: $1.3B Q2 2024 Q3 2024: $1.2B Q3 2024 Q4 2024: $1.1B Q4 2024 Q1 2025: $901.8M Q1 2025 Q2 2025: $829.9M $829.9M Q2 2025 Q3 2025: $745.4M Q3 2025 Q4 2025: $742.8M Q4 2025 Q1 2026: $426.8M Q1 2026 Q2 2026: $432.1M Q2 2026

Holdings 104 stocks · $829.9M
FROG Jfrog Ltd. 7.11% 1,344,530 $59.0M Reduce -29.0%
MRX Marex UK Holdings Ltd. filed as MAREX GROUP PLC 7.08% 1,489,309 $58.8M Add +15.0%
MPWR Monolithic Power Systems Inc. 6.02% 68,286 $49.9M Reduce -5.5%
CYBR Cyberark Software Ltd./Israel 5.80% 118,313 $48.1M Reduce -5.1%
TBBB BBB Foods Inc. Class A 4.75% 1,420,644 $39.4M Reduce -11.8%
DSGX The Descartes Systems Grp 4.54% 371,075 $37.7M Add +41.2%
BRKR Bruker Corp. 3.69% 743,794 $30.6M Add +3.6%
LFUS Littelfuse Inc. 3.25% 118,864 $27.0M Reduce -2.6%
ICLR Icon PLC 2.64% 150,532 $21.9M Reduce -37.0%
LULU Lululemon Athletica Inc. 2.44% 85,346 $20.3M Reduce -42.8%
NET Cloudflare Inc. Class A 2.40% 101,514 $19.9M Reduce -12.1%
STN Stantec Inc. 2.03% 154,500 $16.8M Reduce -20.3%
PRIM Primoris Services Corp. 1.78% 189,380 $14.8M Reduce -0.9%
NVT Nvent Electric PLC 1.75% 198,201 $14.5M Reduce -38.2%
CNM Core & Main Inc. Class A 1.59% 218,291 $13.2M Reduce -21.3%
PWP Perella Weinberg Partners 1.51% 644,355 $12.5M Add +8.7%
SPSC SPS Commerce Inc. 1.46% 88,911 $12.1M Add +17.0%
HQY Healthequity Inc. 1.43% 113,577 $11.9M Reduce -4.2%
PAX Patria Investments Ltd. Class A 1.38% 812,276 $11.4M Reduce -50.0%
RPC Ridgepost Capital Inc. Class A filed as P10 INC 1.29% 1,050,306 $10.7M Reduce -16.3%
IBP Installed Building Products 1.23% 56,393 $10.2M Add +27.7%
YETI Yeti Holdings Inc. filed as YETI HLDGS INC 1.22% 321,310 $10.1M Reduce -2.2%
MAMA Mama's Creations Inc. 1.16% 1,158,781 $9.6M Add +8.6%
CWAN Clearwater Analytics HDS-A 1.15% 433,817 $9.5M Add +11.6%
FIVE Five Below 1.14% 72,252 $9.5M Reduce -41.9%
BURL Burlington Stores Inc. 1.08% 38,660 $9.0M Add +3.3%
SLAB Silicon Laboratories Inc. 1.05% 59,327 $8.7M Reduce -13.2%
ESTC Elastic NV 1.01% 99,707 $8.4M Reduce -66.7%
TXRH Texas Roadhouse Inc. 0.95% 41,980 $7.9M Add +29.1%
ENSG The Ensign Group Inc. 0.92% 49,566 $7.6M Reduce -2.4%
PNTG The Pennant Group Inc. 0.92% 255,037 $7.6M Reduce -5.1%
ALG Alamo Group Inc. 0.88% 33,581 $7.3M Reduce -30.1%
TECH Bio-Techne Corp. 0.86% 138,514 $7.1M Add +186.3%
GO Grocery Outlet Holding Corp. 0.85% 566,423 $7.0M Reduce -38.6%
EPAC Enerpac Tool Group Corp. 0.83% 170,309 $6.9M No change
HCKT The Hackett Group Inc. 0.77% 251,991 $6.4M Reduce -2.3%
LMAT Lemaitre Vascular Inc. 0.76% 75,551 $6.3M New
PJT PJT Partners Inc. Class A 0.75% 37,801 $6.2M Add +8.2%
UPWK Upwork Inc. 0.75% 463,926 $6.2M Add +27.1%
VTMX Corp. Inmobiliaria Vesta-ADR filed as VESTA REAL ESTATE CORP 0.75% 225,782 $6.2M Add +3.0%
QLYS Qualys Inc. 0.71% 41,365 $5.9M Reduce -2.4%
MEDP Medpace Holdings Inc. 0.70% 18,626 $5.8M Add +1.9%
MKTX Marketaxess Holdings Inc. 0.66% 24,546 $5.5M Reduce -14.2%
MANH Manhattan Associates Inc. 0.66% 27,719 $5.5M Add +58.4%
ZS Zscaler Inc. 0.62% 16,366 $5.1M Reduce -14.0%
KAI Kadant Inc. 0.61% 15,959 $5.1M New
RYAN Ryan Specialty Holdings Inc. 0.61% 74,510 $5.1M Add +13.0%
GSHD Goosehead Insurance Inc. Class A 0.59% 46,171 $4.9M Reduce -1.8%
TW Tradeweb Markets Inc. Class A 0.57% 32,457 $4.8M Add +2.3%
ESQ Esquire Financial Holdings I 0.56% 48,866 $4.6M Reduce -39.0%
NEOG Neogen Corp. 0.52% 895,811 $4.3M Add +27.4%
KLIC Kulicke & Soffa Industries 0.51% 121,148 $4.2M No change
TPG TPG Inc. 0.46% 73,298 $3.8M Add +4.9%
GNTX Gentex Corp. 0.45% 171,077 $3.8M Reduce -22.2%
GIC Global Industrial Co. 0.44% 133,855 $3.6M Reduce -45.8%
VVV Valvoline Inc. 0.43% 95,084 $3.6M Add +11.3%
DG Dollar General Corp. 0.43% 31,037 $3.6M Reduce -1.1%
ARES Ares Management Corp. Class A 0.40% 19,268 $3.3M Reduce -28.2%
DXCM Dexcom Inc. 0.38% 35,799 $3.1M Add +14.3%
DT Dynatrace Inc. 0.37% 56,340 $3.1M Add +8.6%
BOOT Boot Barn Holdings Inc. 0.36% 19,650 $3.0M Reduce -58.9%
RDVT Red Violet Inc. 0.35% 59,254 $2.9M New
TREX Trex Company Inc. 0.34% 52,223 $2.8M Add +6.5%
TWFG TWFG Inc. 0.34% 80,257 $2.8M New
IDXX Idexx Laboratories Inc. 0.31% 4,830 $2.6M Reduce -29.4%
RXST Rxsight Inc. 0.30% 194,050 $2.5M Add +95.7%
HLI Houlihan Lokey Inc. 0.28% 13,089 $2.4M Add +9.1%
FRPT Freshpet Inc. 0.27% 32,465 $2.2M Add +103.3%
BRBR Bellring Brands Inc. 0.25% 36,320 $2.1M Add +92.3%
BUR Burford Capital Ltd. 0.25% 142,966 $2.0M No change
ABX Abacus Global Management Inc. 0.24% 390,645 $2.0M Add +102.2%
MOD Modine Manufacturing Co. 0.22% 18,899 $1.9M Reduce -68.7%
MORN Morningstar Inc. 0.19% 4,986 $1.6M Add +30.7%
PWR Quanta Services Inc. 0.18% 3,998 $1.5M Reduce -16.2%
AMKR Amkor Technology Inc. 0.18% 71,000 $1.5M New
IRMD Iradimed Corp. 0.16% 22,165 $1.3M Add +96.6%
BWMN Bowman Consulting Group Ltd. 0.16% 45,832 $1.3M Reduce -70.8%
ACVA Acv Auctions Inc. Class A 0.16% 80,893 $1.3M New
BBSI Barrett Business SVCS Inc. 0.15% 30,617 $1.3M Reduce -60.0%
LOAR Loar Holdings Inc. 0.14% 13,327 $1.1M Add +16.2%
CROX Crocs Inc. 0.13% 10,534 $1.1M New
HDB HDFC Bank Ltd.-ADR 0.13% 13,554 $1.0M No change
MRVL Marvell Technology Inc. 0.12% 13,093 $1.0M Reduce -3.9%
YUMC Yum China Holdings Inc. 0.12% 22,000 $985K New
KRUS Kura Sushi USA Inc. Class A 0.11% 10,797 $929K Reduce -7.5%
FORM Formfactor Inc. 0.09% 22,236 $765K Reduce -54.3%
BELFB Bel Fuse Inc. Class B 0.08% 6,600 $645K Reduce -10.9%
WIX Wix.com Ltd. 0.07% 3,683 $584K Add +19.7%
OWL Blue Owl Capital Inc. 0.07% 30,241 $581K No change
CPNG Coupang Inc. 0.06% 17,962 $538K Reduce -26.2%
DAVA Endava PLC- Spon ADR 0.06% 34,085 $522K Reduce -91.5%
APPF Appfolio Inc. Class A 0.06% 2,106 $485K New
MNDY Monday.com Ltd. 0.05% 1,445 $454K Reduce -29.8%
KIDS Orthopediatrics Corp. 0.05% 21,066 $452K New
ULTA Ulta Beauty Inc. 0.04% 664 $311K Reduce -69.2%
FIGS Figs Inc. Class A 0.04% 51,813 $292K No change
NSP Insperity Inc. 0.03% 4,518 $272K Reduce -49.0%
LOVE The Lovesac Co. 0.03% 14,140 $257K Add +28.1%
DOCN Digitalocean Holdings Inc. 0.03% 8,925 $255K Reduce -95.4%
GLBE Global-E Online Ltd. 0.03% 7,464 $250K New
FATN Fatpipe Inc. 0.03% 24,470 $241K New
PLBC Plumas Bancorp 0.03% 5,155 $229K Reduce -82.4%
TMCI Treace Medical Concepts Inc. 0.03% 37,399 $220K Reduce -18.0%
JYNT The Joint Corp. 0.02% 17,690 $204K No change

Portfolio Sells Q1 2025 → Q2 2025
GLOB Globant SA Sold out 0.00% −4.09
LULU Lululemon Athletica Inc. Reduce -42.8% 2.44% −2.24
ICLR Icon PLC Reduce -37.0% 2.64% −2.00
ESTC Elastic NV Reduce -66.7% 1.01% −1.94
DAVA Endava PLC- Spon ADR Reduce -91.5% 0.06% −0.80
NVEE NV5 Global Inc. Sold out 0.00% −0.74
DOCN Digitalocean Holdings Inc. Reduce -95.4% 0.03% −0.68
PAX Patria Investments Ltd. Class A Reduce -50.0% 1.38% −0.66
GO Grocery Outlet Holding Corp. Reduce -38.6% 0.85% −0.58
SKX Skechers USA Inc. Class A Sold out 0.00% −0.46
SITM Sitime Corp. Sold out 0.00% −0.35
RPC Ridgepost Capital Inc. Class A Reduce -16.3% 1.29% −0.34
WAL Western Alliance Bancorp Sold out 0.00% −0.30
MOD Modine Manufacturing Co. Reduce -68.7% 0.22% −0.29
REXR Rexford Industrial Realty Inc. Sold out 0.00% −0.23
BWMN Bowman Consulting Group Ltd. Reduce -70.8% 0.16% −0.22
BOOT Boot Barn Holdings Inc. Reduce -58.9% 0.36% −0.21
BBSI Barrett Business SVCS Inc. Reduce -60.0% 0.15% −0.20
GIC Global Industrial Co. Reduce -45.8% 0.44% −0.18
HLNE Hamilton Lane Inc. Class A Sold out 0.00% −0.14
MSCI MSCI Inc. Sold out 0.00% −0.13
MBUU Malibu Boats Inc. Class A Sold out 0.00% −0.13
OLLI Ollie's Bargain Outlet Holdi Sold out 0.00% −0.13
NVT Nvent Electric PLC Reduce -38.2% 1.75% −0.12
GNTX Gentex Corp. Reduce -22.2% 0.45% −0.11
PLBC Plumas Bancorp Reduce -82.4% 0.03% −0.11
ESQ Esquire Financial Holdings I Reduce -39.0% 0.56% −0.11
SHLS Shoals Technologies Group -A Sold out 0.00% −0.10
STVN Stevanato Group SPA Sold out 0.00% −0.09
ALG Alamo Group Inc. Reduce -30.1% 0.88% −0.07
HCKT The Hackett Group Inc. Reduce -2.3% 0.77% −0.06
FORM Formfactor Inc. Reduce -54.3% 0.09% −0.06
NSP Insperity Inc. Reduce -49.0% 0.03% −0.06
ULTA Ulta Beauty Inc. Reduce -69.2% 0.04% −0.05
STAA Staar Surgical Co. Sold out 0.00% −0.05
S Sentinelone Inc. Class A Sold out 0.00% −0.05
ARES Ares Management Corp. Class A Reduce -28.2% 0.40% −0.03
GSHD Goosehead Insurance Inc. Class A Reduce -1.8% 0.59% −0.03
MKTX Marketaxess Holdings Inc. Reduce -14.2% 0.66% −0.03
ETSY Etsy Inc. Sold out 0.00% −0.02
TMCI Treace Medical Concepts Inc. Reduce -18.0% 0.03% −0.02
QGEN Qiagen NV Sold out 0.00% −0.02
DCBO Docebo Inc. Sold out 0.00% −0.01
PODD Insulet Corp. Sold out 0.00% −0.01
BILL Bill Holdings Inc. Sold out 0.00% −0.01
TBBB BBB Foods Inc. Class A Reduce -11.8% 4.75% −0.01
POOL Pool Corp. Sold out 0.00% −0.01
IDXX Idexx Laboratories Inc. Reduce -29.4% 0.31% −0.01
MNDY Monday.com Ltd. Reduce -29.8% 0.05% −0.00
CPNG Coupang Inc. Reduce -26.2% 0.06% +0.01

Portfolio Buys Q1 2025 → Q2 2025
MRX Marex UK Holdings Ltd. Add +15.0% 7.08% +2.01
DSGX The Descartes Systems Grp Add +41.2% 4.54% +1.61
LMAT Lemaitre Vascular Inc. New 0.76% +0.76
KAI Kadant Inc. New 0.61% +0.61
TECH Bio-Techne Corp. Add +186.3% 0.86% +0.54
MAMA Mama's Creations Inc. Add +8.6% 1.16% +0.39
IBP Installed Building Products Add +27.7% 1.23% +0.39
BRKR Bruker Corp. Add +3.6% 3.69% +0.37
RDVT Red Violet Inc. New 0.35% +0.35
TXRH Texas Roadhouse Inc. Add +29.1% 0.95% +0.35
SPSC SPS Commerce Inc. Add +17.0% 1.46% +0.34
TWFG TWFG Inc. New 0.34% +0.34
MANH Manhattan Associates Inc. Add +58.4% 0.66% +0.32
PWP Perella Weinberg Partners Add +8.7% 1.51% +0.30
UPWK Upwork Inc. Add +27.1% 0.75% +0.22
PJT PJT Partners Inc. Class A Add +8.2% 0.75% +0.22
VTMX Corp. Inmobiliaria Vesta-ADR Add +3.0% 0.75% +0.19
AMKR Amkor Technology Inc. New 0.18% +0.18
ACVA Acv Auctions Inc. Class A New 0.16% +0.16
DXCM Dexcom Inc. Add +14.3% 0.38% +0.14
CROX Crocs Inc. New 0.13% +0.13
YUMC Yum China Holdings Inc. New 0.12% +0.12
FRPT Freshpet Inc. Add +103.3% 0.27% +0.12
VVV Valvoline Inc. Add +11.3% 0.43% +0.10
DT Dynatrace Inc. Add +8.6% 0.37% +0.10
BRBR Bellring Brands Inc. Add +92.3% 0.25% +0.10
TPG TPG Inc. Add +4.9% 0.46% +0.10
BURL Burlington Stores Inc. Add +3.3% 1.08% +0.09
IRMD Iradimed Corp. Add +96.6% 0.16% +0.09
MEDP Medpace Holdings Inc. Add +1.9% 0.70% +0.09
ABX Abacus Global Management Inc. Add +102.2% 0.24% +0.08
RYAN Ryan Specialty Holdings Inc. Add +13.0% 0.61% +0.07
HLI Houlihan Lokey Inc. Add +9.1% 0.28% +0.07
MORN Morningstar Inc. Add +30.7% 0.19% +0.06
APPF Appfolio Inc. Class A New 0.06% +0.06
KIDS Orthopediatrics Corp. New 0.05% +0.05
TW Tradeweb Markets Inc. Class A Add +2.3% 0.57% +0.05
LOAR Loar Holdings Inc. Add +16.2% 0.14% +0.05
GLBE Global-E Online Ltd. New 0.03% +0.03
FATN Fatpipe Inc. New 0.03% +0.03
RXST Rxsight Inc. Add +95.7% 0.30% +0.03
TREX Trex Company Inc. Add +6.5% 0.34% +0.03
WIX Wix.com Ltd. Add +19.7% 0.07% +0.01
LOVE The Lovesac Co. Add +28.1% 0.03% +0.01
CWAN Clearwater Analytics HDS-A Add +11.6% 1.15% −0.01
NEOG Neogen Corp. Add +27.4% 0.52% −0.16

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026Amended 75$432.1MKAI, MPWR, ITT, NVT, TBBB
Q1 2026 86$426.8MMRX, MPWR, TBBB, KAI, ITT
Q4 2025 102$742.8MFROG, MRX, MPWR, TBBB, DSGX
Q3 2025 104$745.4MMPWR, FROG, MRX, TBBB, DSGX
Q2 2025 104$829.9MFROG, MRX, MPWR, CYBR, TBBB
Q1 2025 112$901.8MFROG, MRX, TBBB, LULU, CYBR
Q4 2024 126$1.1BLULU, GLOB, FROG, CYBR, TBBB
Q3 2024 133$1.2BGLOB, FROG, LULU, LFUS, CYBR
Q2 2024 131$1.3BFROG, MPWR, GLOB, LFUS, ICLR
Q1 2024 121$1.3BFROG, GLOB, MPWR, ICLR, LFUS