Topic models are useful tools for discovering latent semantic structures in large textual corpora. Recent efforts have been oriented at incorporating contextual representations in topic modeling and have been shown to outperform classical topic models. These approaches are typically slow, volatile, and require heavy preprocessing for optimal results. We present Semantic Signal Separation (S³), a theory-driven topic modeling approach in neural embedding spaces. S³ conceptualizes topics as independent axes of semantic space and uncovers these by decomposing contextualized document embeddings using Independent Component Analysis. Our approach provides diverse and highly coherent topics, requires no preprocessing, and is demonstrated to be the fastest contextual topic model, being, on average, 4.5x faster than the runner-up BERTopic. We offer an implementation of S³, and all contextual baselines, in the Turftopic Python package.