Grandeur Peak Global Advisors LLC's Q1 2025 13F: 5 new positions, 19 exits
Form 13F-HR for the quarter ended Mar 31, 2025 · filed May 15, 2025 · 112 reported positions · accession 0001569137-25-000004
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Increased | Bruker Corp (BRKR) | 0.2% | 3.3% | +3.1 pts | +678K sh | +1677% |
| Reduced | Lululemon Athletica Inc (LULU) | 7.4% | 4.7% | −2.7 pts | −68,667 sh | −32% |
| Reduced | JFrog Ltd (FROG) | 6.4% | 6.7% | +0.4 pts | −547K sh | −22% |
| Increased | ICON PLC (ICLR) | 2.7% | 4.6% | +1.9 pts | +93,718 sh | +64% |
| Reduced | Cloudflare Inc (NET) | 2.5% | 1.4% | −1.0 pts | −142K sh | −55% |
| Reduced | Stevanato Group SpA (STVN) | 1.5% | 0.1% | −1.4 pts | −742K sh | −95% |
| Reduced | QIAGEN NV (QGEN) | 1.4% | 0.0% | −1.4 pts | −355K sh | −99% |
| Reduced | Elastic NV (ESTC) | 3.5% | 3.0% | −0.5 pts | −97,466 sh | −25% |
| Reduced | Ollies Bargain Outlet Holding (OLLI) | 0.8% | 0.1% | −0.6 pts | −67,776 sh | −87% |
| New | INSTALLED BLDG PRODS INC (IBP) | — | 0.8% | +0.8 pts | +44,160 sh | new |
| Reduced | Patria Investments Ltd (PAX) | 2.4% | 2.0% | −0.3 pts | −656K sh | −29% |
| Increased | Marex Group PLC (MRX) | 3.0% | 5.1% | +2.1 pts | +209K sh | +19% |
| Exited | Atricure Inc (ATRC) | 0.7% | — | −0.7 pts | −243K sh | −100% |
| Increased | Monolithic Pwr Sys Inc (MPWR) | 3.3% | 4.6% | +1.4 pts | +10,148 sh | +16% |
| Reduced | Littelfuse Inc (LFUS) | 3.1% | 2.7% | −0.5 pts | −27,927 sh | −19% |
| Increased | BBB Foods Inc (TBBB) | 3.5% | 4.8% | +1.2 pts | +197K sh | +14% |
| Reduced | HDFC Bank Ltd (HDB) | 0.5% | 0.1% | −0.4 pts | −75,940 sh | −85% |
| Exited | Vinci Partners Investments Ltd (VINP) | 0.5% | — | −0.5 pts | −579K sh | −100% |
| Exited | Charles Riv Labs Intl Inc (CRL) | 0.5% | — | −0.5 pts | −30,055 sh | −100% |
| Increased | nVent Electric PLC (NVT) | 1.4% | 1.9% | +0.4 pts | +81,703 sh | +34% |
| Increased | Neogen Corp (NEOG) | 0.2% | 0.7% | +0.4 pts | +477K sh | +211% |
| Reduced | Silicon Laboratories Inc (SLAB) | 1.1% | 0.9% | −0.3 pts | −35,918 sh | −34% |
| Exited | Herc Holdings Inc (HRI) | 0.4% | — | −0.4 pts | −26,337 sh | −100% |
| Increased | MarketAxess Holdings Inc (MKTX) | 0.2% | 0.7% | +0.5 pts | +18,249 sh | +176% |
| Increased | Mama's Creations Inc (MAMA) | 0.3% | 0.8% | +0.4 pts | +596K sh | +127% |
| Increased | Gentex Corp (GNTX) | 0.2% | 0.6% | +0.4 pts | +160K sh | +268% |
| Increased | SPS Commerce Inc (SPSC) | 0.8% | 1.1% | +0.3 pts | +26,117 sh | +52% |
| Reduced | Globant SA (GLOB) | 6.5% | 4.1% | −2.4 pts | −26,467 sh | −8% |
| Reduced | Insperity Inc (NSP) | 0.3% | 0.1% | −0.2 pts | −34,455 sh | −80% |
| Reduced | Medpace Holdings Inc (MEDP) | 0.8% | 0.6% | −0.2 pts | −9,977 sh | −35% |
| New | VALVOLINE INC (VVV) | — | 0.3% | +0.3 pts | +85,424 sh | new |
| Exited | PagerDuty Inc (PD) | 0.3% | — | −0.3 pts | −197K sh | −100% |
| Reduced | CORE & MAIN INC (CNM) | 1.5% | 1.5% | 0.0 pts | −59,207 sh | −18% |
| Exited | EMCOR Group Inc (EME) | 0.3% | — | −0.3 pts | −7,575 sh | −100% |
| Increased | Bio-Techne Corp (TECH) | 0.0% | 0.3% | +0.3 pts | +43,250 sh | +844% |
| Increased | Descartes Sys Group Inc (DSGX) | 2.4% | 2.9% | +0.5 pts | +23,100 sh | +10% |
| Reduced | Rexford Industrial Realty Inc (REXR) | 0.4% | 0.2% | −0.2 pts | −58,939 sh | −52% |
| Reduced | CyberArk Software Ltd (CYBR) | 3.9% | 4.7% | +0.8 pts | −6,777 sh | −5% |
| Reduced | DigitalOcean Holdings Inc (DOCN) | 0.8% | 0.7% | −0.1 pts | −68,114 sh | −26% |
| Reduced | ENSIGN GROUP INC (ENSG) | 0.8% | 0.7% | −0.1 pts | −16,985 sh | −25% |
| Reduced | Dexcom Inc (DXCM) | 0.4% | 0.2% | −0.2 pts | −32,104 sh | −51% |
| Exited | Vertiv Holdings Co (VRT) | 0.2% | — | −0.2 pts | −23,916 sh | −100% |
| Reduced | Alamo Group Inc (ALG) | 1.0% | 0.9% | 0.0 pts | −12,026 sh | −20% |
| Reduced | Goosehead Ins Inc (GSHD) | 0.6% | 0.6% | 0.0 pts | −17,643 sh | −27% |
| Increased | Dynatrace Inc (DT) | 0.0% | 0.3% | +0.2 pts | +44,096 sh | +565% |
| Exited | KKR & Co Inc (KKR) | 0.2% | — | −0.2 pts | −16,372 sh | −100% |
| Increased | Upwork Inc (UPWK) | 0.3% | 0.5% | +0.2 pts | +141K sh | +63% |
| Reduced | Burlington Stores Inc (BURL) | 1.1% | 1.0% | −0.2 pts | −7,627 sh | −17% |
| Reduced | Qualys Inc (QLYS) | 0.7% | 0.6% | −0.1 pts | −13,592 sh | −24% |
| Reduced | Enerpac Tool Group Corp (EPAC) | 0.8% | 0.8% | +0.1 pts | −38,076 sh | −18% |
The 50 largest of 122 changes, by size of the trade. Full holdings for this quarter.
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 45.6% of the equity book
Changes in the top 10 this quarter: BRKR entered · LFUS left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | JFrog Ltd (FROG) | 6.4% | 6.7% | |
| 2 | Marex Group PLC (MRX) | 3.0% | 5.1% | |
| 3 | BBB Foods Inc (TBBB) | 3.5% | 4.8% | |
| 4 | Lululemon Athletica Inc (LULU) | 7.4% | 4.7% | |
| 5 | CyberArk Software Ltd (CYBR) | 3.9% | 4.7% | |
| 6 | Monolithic Pwr Sys Inc (MPWR) | 3.3% | 4.6% | |
| 7 | ICON PLC (ICLR) | 2.7% | 4.6% | |
| 8 | Globant SA (GLOB) | 6.5% | 4.1% | |
| 9 | Bruker Corp (BRKR) | 0.2% | 3.3% | Entered the top 10 |
| 10 | Elastic NV (ESTC) | 3.5% | 3.0% | |
| — | Littelfuse Inc (LFUS) | 3.1% | 2.7% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).