Grandeur Peak Global Advisors, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Grandeur Peak Global Advisors, LLC reported 104 stock positions worth $745.4 million. Its top holding was Monolithic Power Systems (MPWR) at 8.1% of the portfolio, followed by Jfrog (FROG, 8.0%) and Marex UK (MRX, 7.9%). Compared with Q2 2025, it opened 12 new positions, sold out of 12, added to 34 and reduced 52. The biggest buy was a new position in Accelerant Class A (ARX) and the biggest sale Bruker (BRKR, shares −95%).
- Most Recent 13F
- Q2 2026
- Location
- SALT LAKE CITY, UT
- CIK
- 0001569137
- Portfolio Value
- $745.4M (Q3 2025)
- SEC Filing
- 0001569137-25-000009 ↗ filed Nov 14, 2025
Holdings Value
Holdings 104 stocks · $745.4M
| MPWR Monolithic Power Systems Inc. | 8.05% | 65,175 | $60.0M | Reduce -4.6% |
| FROG Jfrog Ltd. | 7.99% | 1,257,871 | $59.5M | Reduce -6.5% |
| MRX Marex UK Holdings Ltd. filed as MAREX GROUP PLC | 7.91% | 1,753,821 | $59.0M | Add +17.8% |
| TBBB BBB Foods Inc. Class A | 5.40% | 1,494,204 | $40.3M | Add +5.2% |
| DSGX The Descartes Systems Grp | 5.25% | 415,455 | $39.1M | Add +12.0% |
| CYBR Cyberark Software Ltd./Israel | 5.18% | 79,870 | $38.6M | Reduce -32.5% |
| LFUS Littelfuse Inc. | 3.67% | 105,488 | $27.3M | Reduce -11.3% |
| PRIM Primoris Services Corp. | 3.35% | 181,988 | $25.0M | Reduce -3.9% |
| MAMA Mama's Creations Inc. | 2.11% | 1,498,071 | $15.7M | Add +29.3% |
| ARX Accelerant Holdings Class A | 1.89% | 945,929 | $14.1M | New |
| PWP Perella Weinberg Partners | 1.82% | 635,323 | $13.5M | Reduce -1.4% |
| STN Stantec Inc. | 1.71% | 118,400 | $12.8M | Reduce -23.4% |
| NET Cloudflare Inc. Class A | 1.69% | 58,832 | $12.6M | Reduce -42.0% |
| SLAB Silicon Laboratories Inc. | 1.47% | 83,599 | $11.0M | Add +40.9% |
| SPSC SPS Commerce Inc. | 1.40% | 100,378 | $10.5M | Add +12.9% |
| HQY Healthequity Inc. | 1.40% | 110,074 | $10.4M | Reduce -3.1% |
| IBP Installed Building Products | 1.31% | 39,651 | $9.8M | Reduce -29.7% |
| UPWK Upwork Inc. | 1.25% | 503,662 | $9.4M | Add +8.6% |
| CWAN Clearwater Analytics HDS-A | 1.25% | 517,668 | $9.3M | Add +19.3% |
| BURL Burlington Stores Inc. | 1.18% | 34,538 | $8.8M | Reduce -10.7% |
| TECH Bio-Techne Corp. | 1.17% | 156,361 | $8.7M | Add +12.9% |
| LMAT Lemaitre Vascular Inc. | 1.17% | 99,299 | $8.7M | Add +31.4% |
| CNM Core & Main Inc. Class A | 1.13% | 156,122 | $8.4M | Reduce -28.5% |
| ICLR Icon PLC | 1.12% | 47,711 | $8.3M | Reduce -68.3% |
| NVT Nvent Electric PLC | 1.05% | 79,256 | $7.8M | Reduce -60.0% |
| FIVE Five Below | 1.04% | 49,888 | $7.7M | Reduce -30.9% |
| ESTC Elastic NV | 0.99% | 87,339 | $7.4M | Reduce -12.4% |
| EPAC Enerpac Tool Group Corp. | 0.99% | 179,437 | $7.4M | Add +5.4% |
| PJT PJT Partners Inc. Class A | 0.97% | 40,519 | $7.2M | Add +7.2% |
| RPC Ridgepost Capital Inc. Class A filed as P10 INC | 0.96% | 655,593 | $7.1M | Reduce -37.6% |
| TXRH Texas Roadhouse Inc. | 0.94% | 42,225 | $7.0M | Add +0.6% |
| VTMX Corp. Inmobiliaria Vesta-ADR filed as VESTA REAL ESTATE CORP | 0.90% | 236,414 | $6.7M | Add +4.7% |
| PNTG The Pennant Group Inc. | 0.82% | 241,961 | $6.1M | Reduce -5.1% |
| GO Grocery Outlet Holding Corp. | 0.78% | 362,346 | $5.8M | Reduce -36.0% |
| PAX Patria Investments Ltd. Class A | 0.77% | 394,746 | $5.8M | Reduce -51.4% |
| MANH Manhattan Associates Inc. | 0.77% | 28,074 | $5.8M | Add +1.3% |
| KAI Kadant Inc. | 0.77% | 19,176 | $5.7M | Add +20.2% |
| RYAN Ryan Specialty Holdings Inc. | 0.76% | 100,652 | $5.7M | Add +35.1% |
| ENSG The Ensign Group Inc. | 0.74% | 32,061 | $5.5M | Reduce -35.3% |
| ZS Zscaler Inc. | 0.63% | 15,741 | $4.7M | Reduce -3.8% |
| RDVT Red Violet Inc. | 0.63% | 89,798 | $4.7M | Add +51.5% |
| QLYS Qualys Inc. | 0.62% | 35,096 | $4.6M | Reduce -15.2% |
| TW Tradeweb Markets Inc. Class A | 0.61% | 40,694 | $4.5M | Add +25.4% |
| GNTX Gentex Corp. | 0.60% | 157,895 | $4.5M | Reduce -7.7% |
| DG Dollar General Corp. | 0.56% | 40,423 | $4.2M | Add +30.2% |
| ESQ Esquire Financial Holdings I | 0.56% | 40,915 | $4.2M | Reduce -16.3% |
| DXCM Dexcom Inc. | 0.54% | 60,026 | $4.0M | Add +67.7% |
| NEOG Neogen Corp. | 0.54% | 701,536 | $4.0M | Reduce -21.7% |
| RXST Rxsight Inc. | 0.51% | 420,690 | $3.8M | Add +116.8% |
| GSHD Goosehead Insurance Inc. Class A | 0.48% | 48,576 | $3.6M | Add +5.2% |
| MKTX Marketaxess Holdings Inc. | 0.48% | 20,408 | $3.6M | Reduce -16.9% |
| TPG TPG Inc. | 0.47% | 60,907 | $3.5M | Reduce -16.9% |
| GIC Global Industrial Co. | 0.47% | 94,584 | $3.5M | Reduce -29.3% |
| FRPT Freshpet Inc. | 0.46% | 62,343 | $3.4M | Add +92.0% |
| CSW CSW Industrials Inc. | 0.41% | 12,743 | $3.1M | New |
| TWFG TWFG Inc. | 0.39% | 105,311 | $2.9M | Add +31.2% |
| HLI Houlihan Lokey Inc. | 0.38% | 13,836 | $2.8M | Add +5.7% |
| DT Dynatrace Inc. | 0.38% | 58,552 | $2.8M | Add +3.9% |
| ATRC Atricure Inc. | 0.37% | 78,900 | $2.8M | New |
| MOD Modine Manufacturing Co. | 0.36% | 18,781 | $2.7M | Reduce -0.6% |
| YETI Yeti Holdings Inc. filed as YETI HLDGS INC | 0.34% | 77,053 | $2.6M | Reduce -76.0% |
| IDXX Idexx Laboratories Inc. | 0.32% | 3,736 | $2.4M | Reduce -22.6% |
| TREX Trex Company Inc. | 0.31% | 44,286 | $2.3M | Reduce -15.2% |
| AMKR Amkor Technology Inc. | 0.30% | 79,850 | $2.3M | Add +12.5% |
| KLIC Kulicke & Soffa Industries | 0.30% | 55,316 | $2.2M | Reduce -54.3% |
| ACVA Acv Auctions Inc. Class A | 0.29% | 215,043 | $2.1M | Add +165.8% |
| VVV Valvoline Inc. | 0.27% | 55,967 | $2.0M | Reduce -41.1% |
| ABX Abacus Global Management Inc. | 0.25% | 318,958 | $1.8M | Reduce -18.4% |
| BUR Burford Capital Ltd. | 0.23% | 142,966 | $1.7M | No change |
| LOAR Loar Holdings Inc. | 0.22% | 20,148 | $1.6M | Add +51.2% |
| HCKT The Hackett Group Inc. | 0.21% | 83,875 | $1.6M | Reduce -66.7% |
| BWMN Bowman Consulting Group Ltd. | 0.19% | 33,109 | $1.4M | Reduce -27.8% |
| NTSK Netskope Inc. Class A | 0.17% | 55,946 | $1.3M | New |
| MIAX Miami International Holdings | 0.17% | 31,538 | $1.3M | New |
| MEDP Medpace Holdings Inc. | 0.17% | 2,435 | $1.3M | Reduce -86.9% |
| MRVL Marvell Technology Inc. | 0.15% | 13,558 | $1.1M | Add +3.5% |
| PWR Quanta Services Inc. | 0.15% | 2,676 | $1.1M | Reduce -33.1% |
| BRKR Bruker Corp. | 0.15% | 34,097 | $1.1M | Reduce -95.4% |
| MORN Morningstar Inc. | 0.15% | 4,766 | $1.1M | Reduce -4.4% |
| DECK Deckers Outdoor Corp. | 0.15% | 10,679 | $1.1M | New |
| IRMD Iradimed Corp. | 0.14% | 15,036 | $1.1M | Reduce -32.2% |
| CAVA Cava Group Inc. | 0.14% | 16,836 | $1.0M | New |
| PRM Perimeter Solutions Inc. | 0.13% | 44,151 | $989K | New |
| HDB HDFC Bank Ltd.-ADR | 0.12% | 27,108 | $926K | No change |
| BELFB Bel Fuse Inc. Class B | 0.12% | 6,263 | $883K | Reduce -5.1% |
| FORM Formfactor Inc. | 0.11% | 23,245 | $847K | Add +4.5% |
| SARO Standardaero Inc. | 0.11% | 30,565 | $834K | New |
| CROX Crocs Inc. | 0.11% | 9,664 | $807K | Reduce -8.3% |
| HAE Haemonetics Corp. | 0.10% | 14,822 | $722K | New |
| ARES Ares Management Corp. Class A | 0.10% | 4,438 | $710K | Reduce -77.0% |
| FSS Federal Signal Corp. | 0.09% | 5,729 | $682K | New |
| BBSI Barrett Business SVCS Inc. | 0.09% | 15,345 | $680K | Reduce -49.9% |
| APPF Appfolio Inc. Class A | 0.09% | 2,364 | $652K | Add +12.3% |
| KIDS Orthopediatrics Corp. | 0.08% | 32,295 | $598K | Add +53.3% |
| WIX Wix.com Ltd. | 0.07% | 3,053 | $542K | Reduce -17.1% |
| ALG Alamo Group Inc. | 0.07% | 2,713 | $518K | Reduce -91.9% |
| OWL Blue Owl Capital Inc. | 0.07% | 29,056 | $492K | Reduce -3.9% |
| KRUS Kura Sushi USA Inc. Class A | 0.04% | 5,276 | $313K | Reduce -51.1% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.04% | 562 | $276K | New |
| FIGS Figs Inc. Class A | 0.03% | 38,338 | $256K | Reduce -26.0% |
| TMCI Treace Medical Concepts Inc. | 0.03% | 37,399 | $251K | No change |
| LOVE The Lovesac Co. | 0.03% | 14,140 | $239K | No change |
| JYNT The Joint Corp. | 0.02% | 17,690 | $169K | No change |
| FATN Fatpipe Inc. | 0.02% | 24,470 | $156K | No change |
Portfolio Sells Q2 2025 → Q3 2025
| BRKR Bruker Corp. | Reduce -95.4% | 0.15% | −3.54 |
| LULU Lululemon Athletica Inc. | Sold out | 0.00% | −2.44 |
| ICLR Icon PLC | Reduce -68.3% | 1.12% | −1.52 |
| YETI Yeti Holdings Inc. | Reduce -76.0% | 0.34% | −0.88 |
| ALG Alamo Group Inc. | Reduce -91.9% | 0.07% | −0.81 |
| NET Cloudflare Inc. Class A | Reduce -42.0% | 1.69% | −0.70 |
| NVT Nvent Electric PLC | Reduce -60.0% | 1.05% | −0.70 |
| CYBR Cyberark Software Ltd./Israel | Reduce -32.5% | 5.18% | −0.62 |
| PAX Patria Investments Ltd. Class A | Reduce -51.4% | 0.77% | −0.60 |
| HCKT The Hackett Group Inc. | Reduce -66.7% | 0.21% | −0.56 |
| MEDP Medpace Holdings Inc. | Reduce -86.9% | 0.17% | −0.54 |
| CNM Core & Main Inc. Class A | Reduce -28.5% | 1.13% | −0.46 |
| BOOT Boot Barn Holdings Inc. | Sold out | 0.00% | −0.36 |
| RPC Ridgepost Capital Inc. Class A | Reduce -37.6% | 0.96% | −0.34 |
| STN Stantec Inc. | Reduce -23.4% | 1.71% | −0.31 |
| ARES Ares Management Corp. Class A | Reduce -77.0% | 0.10% | −0.31 |
| BRBR Bellring Brands Inc. | Sold out | 0.00% | −0.25 |
| KLIC Kulicke & Soffa Industries | Reduce -54.3% | 0.30% | −0.20 |
| MKTX Marketaxess Holdings Inc. | Reduce -16.9% | 0.48% | −0.18 |
| ENSG The Ensign Group Inc. | Reduce -35.3% | 0.74% | −0.18 |
| VVV Valvoline Inc. | Reduce -41.1% | 0.27% | −0.16 |
| YUMC Yum China Holdings Inc. | Sold out | 0.00% | −0.12 |
| FIVE Five Below | Reduce -30.9% | 1.04% | −0.11 |
| PNTG The Pennant Group Inc. | Reduce -5.1% | 0.82% | −0.10 |
| QLYS Qualys Inc. | Reduce -15.2% | 0.62% | −0.09 |
| KRUS Kura Sushi USA Inc. Class A | Reduce -51.1% | 0.04% | −0.07 |
| GO Grocery Outlet Holding Corp. | Reduce -36.0% | 0.78% | −0.07 |
| CPNG Coupang Inc. | Sold out | 0.00% | −0.06 |
| DAVA Endava PLC- Spon ADR | Sold out | 0.00% | −0.06 |
| BBSI Barrett Business SVCS Inc. | Reduce -49.9% | 0.09% | −0.06 |
| MNDY Monday.com Ltd. | Sold out | 0.00% | −0.05 |
| MORN Morningstar Inc. | Reduce -4.4% | 0.15% | −0.04 |
| ULTA Ulta Beauty Inc. | Sold out | 0.00% | −0.04 |
| TREX Trex Company Inc. | Reduce -15.2% | 0.31% | −0.04 |
| HQY Healthequity Inc. | Reduce -3.1% | 1.40% | −0.03 |
| PWR Quanta Services Inc. | Reduce -33.1% | 0.15% | −0.03 |
| NSP Insperity Inc. | Sold out | 0.00% | −0.03 |
| DOCN Digitalocean Holdings Inc. | Sold out | 0.00% | −0.03 |
| GLBE Global-E Online Ltd. | Sold out | 0.00% | −0.03 |
| PLBC Plumas Bancorp | Sold out | 0.00% | −0.03 |
| ESTC Elastic NV | Reduce -12.4% | 0.99% | −0.02 |
| CROX Crocs Inc. | Reduce -8.3% | 0.11% | −0.02 |
| IRMD Iradimed Corp. | Reduce -32.2% | 0.14% | −0.02 |
| OWL Blue Owl Capital Inc. | Reduce -3.9% | 0.07% | −0.00 |
| FIGS Figs Inc. Class A | Reduce -26.0% | 0.03% | −0.00 |
| WIX Wix.com Ltd. | Reduce -17.1% | 0.07% | +0.00 |
| ESQ Esquire Financial Holdings I | Reduce -16.3% | 0.56% | +0.00 |
| ABX Abacus Global Management Inc. | Reduce -18.4% | 0.25% | +0.00 |
| TPG TPG Inc. | Reduce -16.9% | 0.47% | +0.01 |
| IDXX Idexx Laboratories Inc. | Reduce -22.6% | 0.32% | +0.01 |
Portfolio Buys Q2 2025 → Q3 2025
| ARX Accelerant Holdings Class A | New | 1.89% | +1.89 |
| MAMA Mama's Creations Inc. | Add +29.3% | 2.11% | +0.95 |
| MRX Marex UK Holdings Ltd. | Add +17.8% | 7.91% | +0.83 |
| DSGX The Descartes Systems Grp | Add +12.0% | 5.25% | +0.70 |
| TBBB BBB Foods Inc. Class A | Add +5.2% | 5.40% | +0.65 |
| UPWK Upwork Inc. | Add +8.6% | 1.25% | +0.50 |
| SLAB Silicon Laboratories Inc. | Add +40.9% | 1.47% | +0.42 |
| CSW CSW Industrials Inc. | New | 0.41% | +0.41 |
| LMAT Lemaitre Vascular Inc. | Add +31.4% | 1.17% | +0.41 |
| ATRC Atricure Inc. | New | 0.37% | +0.37 |
| TECH Bio-Techne Corp. | Add +12.9% | 1.17% | +0.31 |
| RDVT Red Violet Inc. | Add +51.5% | 0.63% | +0.28 |
| PJT PJT Partners Inc. Class A | Add +7.2% | 0.97% | +0.21 |
| RXST Rxsight Inc. | Add +116.8% | 0.51% | +0.20 |
| FRPT Freshpet Inc. | Add +92.0% | 0.46% | +0.20 |
| NTSK Netskope Inc. Class A | New | 0.17% | +0.17 |
| MIAX Miami International Holdings | New | 0.17% | +0.17 |
| DXCM Dexcom Inc. | Add +67.7% | 0.54% | +0.17 |
| KAI Kadant Inc. | Add +20.2% | 0.77% | +0.16 |
| EPAC Enerpac Tool Group Corp. | Add +5.4% | 0.99% | +0.15 |
| VTMX Corp. Inmobiliaria Vesta-ADR | Add +4.7% | 0.90% | +0.15 |
| RYAN Ryan Specialty Holdings Inc. | Add +35.1% | 0.76% | +0.15 |
| DECK Deckers Outdoor Corp. | New | 0.15% | +0.15 |
| CAVA Cava Group Inc. | New | 0.14% | +0.14 |
| DG Dollar General Corp. | Add +30.2% | 0.56% | +0.13 |
| PRM Perimeter Solutions Inc. | New | 0.13% | +0.13 |
| ACVA Acv Auctions Inc. Class A | Add +165.8% | 0.29% | +0.13 |
| AMKR Amkor Technology Inc. | Add +12.5% | 0.30% | +0.12 |
| MANH Manhattan Associates Inc. | Add +1.3% | 0.77% | +0.11 |
| SARO Standardaero Inc. | New | 0.11% | +0.11 |
| CWAN Clearwater Analytics HDS-A | Add +19.3% | 1.25% | +0.11 |
| HLI Houlihan Lokey Inc. | Add +5.7% | 0.38% | +0.10 |
| HAE Haemonetics Corp. | New | 0.10% | +0.10 |
| FSS Federal Signal Corp. | New | 0.09% | +0.09 |
| LOAR Loar Holdings Inc. | Add +51.2% | 0.22% | +0.08 |
| TWFG TWFG Inc. | Add +31.2% | 0.39% | +0.05 |
| CRWD CrowdStrike Holdings Inc. Class A | New | 0.04% | +0.04 |
| TW Tradeweb Markets Inc. Class A | Add +25.4% | 0.61% | +0.03 |
| MRVL Marvell Technology Inc. | Add +3.5% | 0.15% | +0.03 |
| APPF Appfolio Inc. Class A | Add +12.3% | 0.09% | +0.03 |
| KIDS Orthopediatrics Corp. | Add +53.3% | 0.08% | +0.03 |
| FORM Formfactor Inc. | Add +4.5% | 0.11% | +0.02 |
| DT Dynatrace Inc. | Add +3.9% | 0.38% | +0.01 |
| TXRH Texas Roadhouse Inc. | Add +0.6% | 0.94% | −0.01 |
| SPSC SPS Commerce Inc. | Add +12.9% | 1.40% | −0.06 |
| GSHD Goosehead Insurance Inc. Class A | Add +5.2% | 0.48% | −0.10 |
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 |