SEC 13F Intelligence

Managers / Q1 2025 · view latest →

FORMULA GROWTH LTD

CIK 0001093219 · 1010 SHERBROOKE ST W SUITE 2300, MONTREAL, A8, H3A 2R7 · 514-288-5136

Reported Value
$247M
Q1 2025
Positions
118
Filings on Record
30
2019–present window
Filed
May 14, 2025
original filing

Summary

Formula Growth Ltd reported $247M in U.S.-listed holdings across 118 positions for Q1 2025.

Its largest position, SWIM, represents 3.0% of the portfolio.

Compared with Q4 2024, the fund opened 28 new positions and exited 25.

Portfolio Metrics

Turnover
+20.9%
vs prior filed quarter
Top-10 Concentration
+22.0%
share of reported value
Largest Position
+3.0%
Latham
New / Exited
28 / 25
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $608MQ4 ’18Q1 ’19: $708MQ2 ’19: $700MQ3 ’19: $667MQ4 ’19: $793MQ4 ’19Q1 ’20: $522MQ2 ’20: $591MQ3 ’20: $535MQ4 ’20: $599MQ4 ’20Q1 ’21: $695MQ2 ’21: $725MQ3 ’21: $699MQ4 ’21: $563MQ4 ’21Q1 ’22: $530MQ2 ’22: $361MQ3 ’22: $350MQ4 ’22: $353MQ4 ’22Q1 ’23: $310MQ2 ’23: $314MQ3 ’23: $293MQ4 ’23: $312MQ4 ’23Q1 ’24: $313MQ2 ’24: $275MQ3 ’24: $291MQ4 ’24: $295MQ4 ’24Q1 ’25: $247MQ2 ’25: $265MQ3 ’25: $281MQ4 ’25: $260MQ4 ’25Q1 ’26: $222Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 88.0%Other: 9.9%ADR: 2.1%
  • Common Stock · 88.0% · $217M
  • Other · 9.9% · $25M
  • ADR · 2.1% · $5M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
TEAM1EURATLASSIAN CORPORATIONNEW+24.5K24.5K+$5M$5M
TTDTHE TRADE DESK INCNEW+91.0K91.0K+$5M$5M
RHRHNEW+15.1K15.1K+$4M$4M
PHRPHREESIA INCNEW+111.3K111.3K+$3M$3M
HQYHEALTHEQUITY INCNEW+30.0K30.0K+$3M$3M
UTHUNITED THERAPEUTICS CORP DELNEW+8.4K8.4K+$3M$3M
ALHCALIGNMENT HEALTHCARE INCNEW+130.0K130.0K+$2M$2M
LLYELI LILLY & CONEW+2.7K2.7K+$2M$2M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2025

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SWIMLATHAM GROUP INChistory →COM2.99%$7M1.15M
2STRATASYS LTDSHS2.50%$6M630.0K
3UAUNDER ARMOUR INChistory →CL C2.41%$6M1.00M
4BILLBILL HOLDINGS INChistory →COM2.33%$6M125.0K
5WWAYFAIR INChistory →CL A2.14%$5M164.7K
6TEAM1EURATLASSIAN CORPORATIONhistory →CL A2.11%$5M24.5K
7TTDTHE TRADE DESK INChistory →COM CL A2.02%$5M91.0K
8PODDINSULET CORPhistory →COM1.97%$5M18.5K
9PAGSEGURO DIGITAL LTDCOM CL A1.92%$5M622.0K
10DC4DEXCOM INChistory →COM1.62%$4M58.4K
11GENIUS SPORTS LIMITEDSHARES CL A1.51%$4M372.1K
12LINDLINDBLAD EXPEDITIONS HLDGS Ihistory →COM1.47%$4M390.8K
13RHRHhistory →COM1.44%$4M15.1K
14ARCBARCBEST CORPhistory →COM1.42%$4M49.6K
15CVSAADTALEM GLOBAL ED INChistory →COM1.41%$3M34.5K
16ORNORION GROUP HLDGS INChistory →COM1.39%$3M654.8K
17MUMICRON TECHNOLOGY INChistory →COM1.34%$3M38.0K
18LAWCS DISCO INChistory →COM1.33%$3M800.0K
19WEAWESTERN ALLIANCE BANCORPhistory →COM1.31%$3M42.2K
20UUNITY SOFTWARE INChistory →COM1.31%$3M165.0K
21RBARB GLOBAL INChistory →COM1.29%$3M31.8K
22SSNCSS&C TECHNOLOGIES HLDGS INChistory →COM1.28%$3M37.7K
23UTIUNIVERSAL TECHNICAL INST INChistory →COM1.27%$3M121.6K
24CECOCECO ENVIRONMENTAL CORPhistory →COM1.26%$3M136.5K
25CCL1EURCARNIVAL CORPhistory →UNIT 99/99/99991.25%$3M157.8K
26EXFYEXPENSIFY INChistory →COM CL A1.23%$3M1.00M
27MMSIMERIT MED SYS INChistory →COM1.22%$3M28.5K
28ASANASANA INChistory →CL A1.18%$3M200.0K
29PHRPHREESIA INChistory →COM1.15%$3M111.3K
30XPOXPO INChistory →COM1.13%$3M26.0K
31RDNTRADNET INChistory →COM1.13%$3M56.0K
32CAPRI HOLDINGS LIMITEDSHS1.12%$3M140.4K
33XPOFXPONENTIAL FITNESS INChistory →COM CL A1.11%$3M329.3K
34CSGPCOSTAR GROUP INChistory →COM1.09%$3M34.0K
35PLMRPALOMAR HLDGS INChistory →COM1.09%$3M19.6K
36HQYHEALTHEQUITY INChistory →COM1.08%$3M30.0K
37RYAAYRYANAIR HOLDINGS PLChistory →SPONSORED ADS1.07%$3M62.4K
38CDNACAREDX INChistory →COM1.07%$3M148.2K
39TWLOTWILIO INChistory →CL A1.06%$3M26.7K
40UTHUNITED THERAPEUTICS CORP DELhistory →COM1.05%$3M8.4K
41CALXCALIX INChistory →COM1.01%$2M70.0K
42ALHCALIGNMENT HEALTHCARE INCCOM0.98%$2M130.0K
43HCAHCA HEALTHCARE INCCOM0.98%$2M7.0K
44TNDMTANDEM DIABETES CARE INCCOM NEW0.96%$2M123.9K
45UBERUBER TECHNOLOGIES INCCOM0.96%$2M32.5K
46NTRANATERA INCCOM0.96%$2M16.7K
47SAHSONIC AUTOMOTIVE INCCL A0.94%$2M40.8K
48LKQ1LKQ CORPCOM0.94%$2M54.3K
49ARDTARDENT HEALTH PARTNERS INCCOM0.91%$2M163.3K
50AEYEAUDIOEYE INCCOM NEW0.90%$2M200.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$222M137May 14, 202613F-HRchanges · EDGAR ↗
Q4 2025$260M125Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$281M122Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$265M119Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$247M118May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$295M115Feb 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$291M109Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024$275M109Aug 13, 202413F-HRchanges · EDGAR ↗
Q1 2024$313M112May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$312M128Feb 13, 202413F-HRchanges · EDGAR ↗
Q3 2023$293M136Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$314M135Aug 11, 202313F-HRchanges · EDGAR ↗
Q1 2023$310M129May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$353M129Feb 13, 202313F-HRchanges · EDGAR ↗
Q3 2022$350M127Nov 10, 202213F-HRchanges · EDGAR ↗
Q2 2022$361M130Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$530M140May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$563M138Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$699M146Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$725M147Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$695M164May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$599M138Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$535M148Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$591M142Aug 13, 202013F-HRchanges · EDGAR ↗
Q1 2020$522M152May 14, 202013F-HRchanges · EDGAR ↗
Q4 2019$793M139Feb 13, 202013F-HRchanges · EDGAR ↗
Q3 2019$667M147Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$700M150Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$708M145May 14, 201913F-HRchanges · EDGAR ↗
Q4 2018$608M139Feb 14, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.