Data as of Q4 2025 (Dec 31, 2025)

4D Advisors, LLC

•CIK: 1938268•Filing: Q4 2025

**4D Advisors, LLC** manages $182M across a concentrated portfolio of 37 positions. The fund exhibits notable conviction in technology and specialized sectors, evidenced by top holdings including TPB at $12.5M and CWST at $9.3M. Further significant allocations are directed toward FSS ($7.6M), AXON ($7.1M), and FICO ($6.8M). This structure suggests a focused, high-conviction approach targeting specific market opportunities.

Total AUM
$182.5M
QoQ Performance
-2.9%
Positions
37
Top 10 Concentration
41.0%
Latest Filing
Q4 2025

Top Holdings Allocation

TPB
CWST
TPB6.8%
CWST5.1%
FSS4.2%
AXON3.9%
FICO3.7%
51A3.6%
CELH3.5%
CSL3.5%

📈 Biggest Buys

CWST
CASELLA WASTE SYS INC
NEW
5.1% of portfolio
CSL
CARLISLE COS INC
NEW
3.5% of portfolio
CALX
CALIX INC
NEW
3.3% of portfolio
ACVA
ACV AUCTIONS INC
NEW
3.3% of portfolio
DAVE
DAVE INC
NEW
3.0% of portfolio

📉 Biggest Sells

ONTO
ONTO INNOVATION INC
-57.1%
2.6% of portfolio
51A
AMERICAN PUB ED INC
-34.0%
3.6% of portfolio
BOOT
BOOT BARN HLDGS INC
-42.9%
1.9% of portfolio
NEM
NEWMONT CORP
-33.3%
2.7% of portfolio
—
SUPER GROUP SGHC LIMITED
-28.6%
3.3% of portfolio

Sector Breakdown

Other100.0%

🚪 Exited Positionssold since Q3 2025

USPH
U S PHYSICAL THERAPY
SOLD
$9.3M
VEEV
VEEVA SYS INC
SOLD
$7.4M
VECO
VEECO INSTRS INC DEL
SOLD
$6.1M
GWRE
GUIDEWIRE SOFTWARE INC
SOLD
$5.7M
RXST
RXSIGHT INC
SOLD
$5.0M
+10 more exited positions

Changes from Q3 2025

NEW19 new positions
↑2 increased
↓13 decreased

Historical Filings

Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024

📌 Top Holdings

TPB6.8%
TURNING PT BRANDS INC
$12.5M
CWST5.1%
CASELLA WASTE SYS INC
$9.3M
FSS4.2%
FEDERAL SIGNAL CORP
$7.6M
AXON3.9%
AXON ENTERPRISE INC
$7.1M
FICO3.7%
FAIR ISAAC CORP
$6.8M

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