SEC 13F Intelligence

Managers / Q3 2025 · view latest →

FORMULA GROWTH LTD

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

Reported Value
$281M
Q3 2025
Positions
122
Filings on Record
30
2019–present window
Filed
Nov 13, 2025
original filing

Summary

Formula Growth Ltd reported $281M in U.S.-listed holdings across 122 positions for Q3 2025.

Its largest position, SWIM, represents 2.7% of the portfolio.

Compared with Q2 2025, the fund opened 28 new positions and exited 25.

Portfolio Metrics

Turnover
+24.2%
vs prior filed quarter
Top-10 Concentration
+21.6%
share of reported value
Largest Position
+2.7%
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: 84.7%Other: 13.9%ADR: 1.3%
  • Common Stock · 84.7% · $238M
  • Other · 13.9% · $39M
  • ADR · 1.3% · $4M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
JAMES HARDIE INDS PLCNEW+376.8K376.8K+$7M$7M
GLXYGALAXY DIGITAL INC.NEW+139.2K139.2K+$5M$5M
MONDAY COM LTDNEW+20.0K20.0K+$4M$4M
LAURLAUREATE EDUCATION INCNEW+111.0K111.0K+$4M$4M
EHCENCOMPASS HEALTH CORPNEW+26.7K26.7K+$3M$3M
BTSGBRIGHTSPRING HEALTH SVCS INCNEW+101.4K101.4K+$3M$3M
COMPCOMPASS INCNEW+347.3K347.3K+$3M$3M
OKTAOKTA INCNEW+21.0K21.0K+$2M$2M

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

Holdings — Q3 2025

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SWIMLATHAM GROUP INChistory →COM2.68%$8M989.0K
2JAMES HARDIE INDS PLCORD SHS2.58%$7M376.8K
3TEAM1EURATLASSIAN CORPORATIONhistory →CL A2.27%$6M40.0K
4STRATASYS LTDSHS2.27%$6M570.0K
5MUMICRON TECHNOLOGY INChistory →COM2.26%$6M38.0K
6PACKRANPAK HOLDINGS CORPhistory →COM CL A2.05%$6M1.03M
7CECOCECO ENVIRONMENTAL CORPhistory →COM1.93%$5M105.7K
8LINDLINDBLAD EXPEDITIONS HLDGS Ihistory →COM1.90%$5M416.7K
9LAWCS DISCO INChistory →COM1.88%$5M820.0K
10BILLBILL HOLDINGS INChistory →COM1.79%$5M95.0K
11VCTRVICTORY CAP HLDGS INChistory →COM CL A1.76%$5M76.3K
12BBWBUILD-A-BEAR WORKSHOP INChistory →COM1.72%$5M74.3K
13UAUNDER ARMOUR INChistory →CL C1.72%$5M1.00M
14GLXYGALAXY DIGITAL INC.history →CL A1.67%$5M139.2K
15ARCBARCBEST CORPhistory →COM1.66%$5M66.6K
16PODDINSULET CORPhistory →COM1.65%$5M15.0K
17ALHCALIGNMENT HEALTHCARE INChistory →COM1.54%$4M248.2K
18TBCHTURTLE BEACH CORPhistory →COM NEW1.47%$4M260.1K
19CVSAADTALEM GLOBAL ED INChistory →COM1.46%$4M26.6K
20MONDAY COM LTDSHS1.38%$4M20.0K
21HQYHEALTHEQUITY INChistory →COM1.37%$4M40.6K
22RYAAYRYANAIR HOLDINGS PLChistory →SPONSORED ADS1.34%$4M62.4K
23TTDTHE TRADE DESK INChistory →COM CL A1.31%$4M75.0K
24CLEARWATER ANALYTICS HLDGS ICL A1.28%$4M200.0K
25GENIUS SPORTS LIMITEDSHARES CL A1.26%$4M285.7K
26LAURLAUREATE EDUCATION INChistory →COMMON STOCK1.25%$4M111.0K
27UUNITY SOFTWARE INChistory →COM1.21%$3M85.0K
28EHCENCOMPASS HEALTH CORPhistory →COM1.21%$3M26.7K
29RBARB GLOBAL INChistory →COM1.21%$3M31.3K
30CAPRI HOLDINGS LIMITEDSHS1.20%$3M169.7K
31SSNCSS&C TECHNOLOGIES HLDGS INChistory →COM1.10%$3M34.7K
32AEYEAUDIOEYE INChistory →COM NEW1.08%$3M220.0K
33BTSGBRIGHTSPRING HEALTH SVCS INChistory →COM1.07%$3M101.4K
34XPOXPO INChistory →COM1.06%$3M23.0K
35RDNTRADNET INChistory →COM1.04%$3M38.2K
36UBERUBER TECHNOLOGIES INChistory →COM1.03%$3M29.5K
37FABRINETSHS1.02%$3M7.9K
38CSGPCOSTAR GROUP INChistory →COM1.02%$3M34.0K
39ORNORION GROUP HLDGS INChistory →COM1.00%$3M338.9K
40CDNACAREDX INCCOM0.99%$3M192.3K
41COMPCOMPASS INCCL A0.99%$3M347.3K
42GPNGLOBAL PMTS INCCOM0.99%$3M33.4K
43CCL1EURCARNIVAL CORPUNIT 99/99/99990.98%$3M95.3K
44RHRHCOM0.98%$3M13.6K
45UTHUNITED THERAPEUTICS CORP DELCOM0.98%$3M6.5K
46SAHSONIC AUTOMOTIVE INCCL A0.97%$3M35.8K
47BB4AXOS FINANCIAL INCCOM0.92%$3M30.6K
48PHRPHREESIA INCCOM0.92%$3M109.5K
49HCAHCA HEALTHCARE INCCOM0.91%$3M6.0K
50DC4DEXCOM INCCOM0.90%$3M37.5K

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 ↗.