SEC 13F Intelligence

Managers / Q2 2025 · view latest →

FORMULA GROWTH LTD

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

Reported Value
$265M
Q2 2025
Positions
119
Filings on Record
30
2019–present window
Filed
Aug 13, 2025
original filing

Summary

Formula Growth Ltd reported $265M in U.S.-listed holdings across 119 positions for Q2 2025.

Its largest position, SWIM, represents 3.2% of the portfolio.

Compared with Q1 2025, the fund opened 23 new positions and exited 22.

Portfolio Metrics

Turnover
+17.1%
vs prior filed quarter
Top-10 Concentration
+22.4%
share of reported value
Largest Position
+3.2%
Latham
New / Exited
23 / 22
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, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. 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: 90.8%Other: 6.2%ADR: 2.3%MLP: 0.7%
  • Common Stock · 90.8% · $240M
  • Other · 6.2% · $16M
  • ADR · 2.3% · $6M
  • MLP · 0.7% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
JAMES HARDIE INDS PLCNEW+220.1K220.1K+$6M$6M
LNTHLANTHEUS HLDGS INCNEW+26.1K26.1K+$2M$2M
TAT TECHNOLOGIES LTDNEW+69.8K69.8K+$2M$2M
DGDOLLAR GEN CORP NEWNEW+16.1K16.1K+$2M$2M
TPRTAPESTRY INCNEW+20.7K20.7K+$2M$2M
ABALLIANCEBERNSTEIN HLDG L PNEW+43.1K43.1K+$2M$2M
FOURSHIFT4 PMTS INCNEW+17.3K17.3K+$2M$2M
DNNDENISON MINES CORPNEW+868.7K868.7K+$2M$2M

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

Holdings — Q2 2025

119 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SWIMLATHAM GROUP INChistory →COM3.18%$8M1.32M
2STRATASYS LTDSHS2.82%$7M650.0K
3UAUNDER ARMOUR INChistory →CL C2.45%$6M1.00M
4JAMES HARDIE INDS PLCSPONSORED ADR2.24%$6M220.1K
5TEAMATLASSIAN CORPORATIONhistory →CL A2.23%$6M29.0K
6PODDINSULET CORPhistory →COM2.07%$5M17.4K
7UUNITY SOFTWARE INChistory →COM1.92%$5M210.0K
8BILLBILL HOLDINGS INChistory →COM1.87%$5M107.2K
9LINDLINDBLAD EXPEDITIONS HLDGS Ihistory →COM1.84%$5M416.7K
10ARCBARCBEST CORPhistory →COM1.81%$5M62.1K
11MUMICRON TECHNOLOGY INChistory →COM1.77%$5M38.0K
12TTDTHE TRADE DESK INChistory →COM CL A1.69%$4M62.0K
13DXCMDEXCOM INChistory →COM1.57%$4M47.5K
14GENIGENIUS SPORTS LIMITEDhistory →SHARES CL A1.44%$4M365.7K
15CDNACAREDX INChistory →COM1.42%$4M192.3K
16RHRHhistory →COM1.40%$4M19.6K
17LAWCS DISCO INChistory →COM1.37%$4M830.0K
18TPCTUTOR PERINI CORPhistory →COM1.37%$4M77.4K
19RYAAYRYANAIR HOLDINGS PLChistory →SPONSORED ADS1.36%$4M62.4K
20CCLCARNIVAL CORPhistory →UNIT 99/99/99991.30%$3M122.3K
21CVSAADTALEM GLOBAL ED INChistory →COM1.28%$3M26.6K
22RBARB GLOBAL INChistory →COM1.25%$3M31.3K
23BBWBUILD-A-BEAR WORKSHOP INChistory →COM1.24%$3M63.5K
24PHRPHREESIA INChistory →COM1.18%$3M109.5K
25HQYHEALTHEQUITY INChistory →COM1.17%$3M29.5K
26ORNORION GROUP HLDGS INChistory →COM1.16%$3M338.9K
27AEYEAUDIOEYE INChistory →COM NEW1.14%$3M260.0K
28RDNTRADNET INChistory →COM1.14%$3M53.2K
29CPRICAPRI HOLDINGS LIMITEDhistory →SHS1.13%$3M169.7K
30EXFYEXPENSIFY INChistory →COM CL A1.13%$3M1.15M
31XPOXPO INChistory →COM1.10%$3M23.0K
32CECOCECO ENVIRONMENTAL CORPhistory →COM1.09%$3M102.2K
33SSNCSS&C TECHNOLOGIES HLDGS INChistory →COM1.09%$3M34.7K
34SAHSONIC AUTOMOTIVE INChistory →CL A1.08%$3M35.8K
35PAGSPAGSEGURO DIGITAL LTDhistory →COM CL A1.07%$3M293.8K
36UBERUBER TECHNOLOGIES INChistory →COM1.04%$3M29.5K
37CSGPCOSTAR GROUP INChistory →COM1.03%$3M34.0K
38ASANASANA INChistory →CL A1.02%$3M200.0K
39MMSIMERIT MED SYS INCCOM0.99%$3M28.0K
40ALHCALIGNMENT HEALTHCARE INCCOM0.96%$3M181.2K
41UTIUNIVERSAL TECHNICAL INST INCCOM0.91%$2M71.3K
42NTRANATERA INCCOM0.91%$2M14.3K
43UTHRUNITED THERAPEUTICS CORP DELCOM0.89%$2M8.2K
44AXAXOS FINANCIAL INCCOM0.88%$2M30.6K
45FNFABRINETSHS0.88%$2M7.9K
46KRUSKURA SUSHI USA INCCL A COM0.87%$2M26.7K
47HCAHCA HEALTHCARE INCCOM0.87%$2M6.0K
48TNDMTANDEM DIABETES CARE INCCOM NEW0.86%$2M122.1K
49IEIVANHOE ELECTRIC INCCOM0.85%$2M247.9K
50PANWPALO ALTO NETWORKS INCCOM0.85%$2M10.9K
51ARDTARDENT HEALTH INCCOM0.83%$2M160.0K
52LNTHLANTHEUS HLDGS INCCOM0.81%$2M26.1K
53TAT TECHNOLOGIES LTDORD NEW0.81%$2M69.8K
54VCTRVICTORY CAP HLDGS INCCOM CL A0.79%$2M32.9K
55BKSYBLACKSKY TECHNOLOGY INCCL A NEW0.77%$2M98.5K
56CWSTCASELLA WASTE SYS INCCL A0.74%$2M17.1K
57WALWESTERN ALLIANCE BANCORPCOM0.71%$2M24.3K
58DGDOLLAR GEN CORP NEWCOM0.70%$2M16.1K
59TPRTAPESTRY INCCOM0.69%$2M20.7K
60PERFORMANT HEALTHCARE INCCOM0.68%$2M452.5K
61ABALLIANCEBERNSTEIN HLDG L PUNIT LTD PARTN0.66%$2M43.1K
62TWLOTWILIO INCCL A0.66%$2M14.0K
63FOURSHIFT4 PMTS INCCL A0.65%$2M17.3K
64CPACOPA HOLDINGS SACL A0.64%$2M15.5K
65GXOGXO LOGISTICS INCORPORATEDCOMMON STOCK0.63%$2M34.0K
66TBCHTURTLE BEACH CORPCOM NEW0.61%$2M116.7K
67DNNDENISON MINES CORPCOM0.60%$2M868.7K
68PROPROS HOLDINGS INCCOM0.59%$2M100.0K
69LKQLKQ CORPCOM0.59%$2M42.3K
70SNBRQSLEEP NUMBER CORPCOM0.58%$2M228.1K
71CLEARWATER ANALYTICS HLDGS ICL A0.58%$2M70.0K
72WWAYFAIR INCCL A0.58%$2M29.8K
73UNHUNITEDHEALTH GROUP INCCOM0.57%$2M4.8K
74HOMBHOME BANCSHARES INCCOM0.56%$1M51.9K
75LBTYBLIBERTY GLOBAL LTDCOM CL C0.56%$1M142.7K
76ARESARES MANAGEMENT CORPORATIONCL A COM STK0.55%$1M8.4K
77PROFPROFOUND MED CORPCOM NEW0.54%$1M240.9K
78GPNGLOBAL PMTS INCCOM0.54%$1M17.7K
79TTEKTETRA TECH INC NEWCOM0.53%$1M39.0K
80NV5 GLOBAL INCCOM0.51%$1M59.0K
81FCFSFIRSTCASH HOLDINGS INCCOM0.51%$1M10.0K
82CCJCAMECO CORPCOM0.51%$1M18.1K
83KEXKIRBY CORPCOM0.50%$1M11.7K
84HIMXHIMAX TECHNOLOGIES INCSPONSORED ADR0.50%$1M149.1K
85EEFTEURONET WORLDWIDE INCCOM0.50%$1M13.0K
86SUNRISE COMMUNICATIONS AGADS CL A0.48%$1M22.5K
87WIXWIX COM LTDSHS0.46%$1M7.8K
88VSTVISTRA CORPCOM0.46%$1M6.2K
89WEXWEX INCCOM0.46%$1M8.2K
90LULULULULEMON ATHLETICA INCCOM0.45%$1M5.0K
91DLBDOLBY LABORATORIES INCCOM CL A0.45%$1M15.9K
92DENNDENNYS CORPCOM0.45%$1M287.9K
93PDPAGERDUTY INCCOM0.43%$1M75.0K
94PACKRANPAK HOLDINGS CORPCOM CL A0.43%$1M320.9K
95VCELVERICEL CORPCOM0.42%$1M25.8K
96GOGROCERY OUTLET HLDG CORPCOM0.41%$1M87.3K
97JBHTHUNT J B TRANS SVCS INCCOM0.38%$1M7.0K
98XPOFXPONENTIAL FITNESS INCCOM CL A0.36%$963,162128.6K
99LEVILEVI STRAUSS & CO NEWCL A COM STK0.33%$874,30047.3K
100VFCV F CORPCOM0.31%$816,77869.5K

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 ↗.