Formula Growth Ltd.
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 13, 2024), Formula Growth Ltd. reported 109 stock positions worth $291.2 million. Its top holding was Latham (SWIM) at 3.4% of the portfolio, followed by Crocs (CROX, 2.8%) and Build-A-Bear Workshop (BBW, 2.6%). Compared with Q2 2024, it opened 21 new positions, sold out of 21, added to 22 and reduced 45. The biggest buy was a new position in Jd.com Inc.-ADR (JD) and the biggest sale Micron Technology (MU, shares −40%).
- Most Recent 13F
- Q2 2026
- Location
- MONTREAL, A8
- CIK
- 0001093219
- Portfolio Value
- $291.2M (Q3 2024)
- SEC Filing
- 0001011438-24-000606 ↗ filed Nov 13, 2024
Holdings Value
Holdings 109 stocks · $291.2M
| SWIM Latham Group Inc. | 3.41% | 1,462,124 | $9.9M | Reduce -25.4% |
| CROX Crocs Inc. | 2.79% | 56,100 | $8.1M | Reduce -7.4% |
| BBW Build-A-Bear Workshop Inc. | 2.62% | 222,160 | $7.6M | Reduce -0.9% |
| W Wayfair Inc. Class A | 2.55% | 132,117 | $7.4M | Add +7.3% |
| SNBRQ Sleep Number Corp. | 2.32% | 368,151 | $6.7M | Reduce -13.9% |
| BILL Bill Holdings Inc. | 2.07% | 114,000 | $6.0M | Add +28.1% |
| JD Jd.com Inc.-ADR | 1.88% | 137,000 | $5.5M | New |
| TNDM Tandem Diabetes Care Inc. | 1.87% | 128,125 | $5.4M | Add +2.8% |
| PAGS Pagseguro Digital Ltd. Class A | 1.87% | 630,857 | $5.4M | Reduce -9.3% |
| EVH Evolent Health Inc. Class A | 1.82% | 186,926 | $5.3M | Add +9.0% |
| UA Under Armour Inc. Class C | 1.81% | 630,000 | $5.3M | Add +137.7% |
| MU Micron Technology Inc. | 1.75% | 49,218 | $5.1M | Reduce -40.3% |
| ACVA Acv Auctions Inc. Class A | 1.67% | 239,325 | $4.9M | Reduce -6.6% |
| PODD Insulet Corp. | 1.65% | 20,653 | $4.8M | Reduce -1.0% |
| CCL Carnival Corp. | 1.65% | 260,000 | $4.8M | Add +664.7% |
| OKTA Okta Inc. | 1.63% | 64,000 | $4.8M | New |
| RDNT Radnet Inc. | 1.57% | 65,750 | $4.6M | Reduce -9.5% |
| UCTT Ultra Clean Holdings Inc. | 1.54% | 112,355 | $4.5M | Reduce -27.5% |
| TEAM Atlassian Corp. Class A | 1.53% | 28,000 | $4.4M | Add +40.0% |
| SNOW Snowflake Inc. | 1.46% | 37,000 | $4.2M | Reduce -27.4% |
| ARCB Arcbest Corp. | 1.46% | 39,094 | $4.2M | Reduce -13.3% |
| SSYS Stratasys Ltd. | 1.37% | 480,000 | $4.0M | Add +108.7% |
| CECO Ceco Environmental Corp. | 1.36% | 140,958 | $4.0M | Reduce -36.1% |
| U Unity Software Inc. | 1.36% | 175,000 | $4.0M | Add +25.0% |
| CALX Calix Inc. | 1.33% | 100,000 | $3.9M | Reduce -9.1% |
| LIND Lindblad Expeditions Holding | 1.30% | 410,775 | $3.8M | Reduce -21.5% |
| HCA HCA Healthcare Inc. | 1.26% | 9,000 | $3.7M | Reduce -25.0% |
| ASAN Asana Inc. Class A | 1.25% | 315,000 | $3.7M | Add +50.0% |
| TWLO Twilio Inc. Class A | 1.25% | 55,688 | $3.6M | Reduce -8.2% |
| TPC Tutor Perini Corp. | 1.24% | 133,000 | $3.6M | New |
| XPO Xpo Inc. | 1.24% | 33,500 | $3.6M | No change |
| LAW CS Disco Inc. | 1.23% | 610,000 | $3.6M | Add +13.0% |
| ORN Orion Group Holdings Inc. | 1.20% | 606,000 | $3.5M | New |
| HOLX Hologic Inc. | 1.20% | 42,810 | $3.5M | Reduce -11.3% |
| MMSI Merit Medical Systems Inc. | 1.12% | 32,858 | $3.2M | New |
| CHWY Chewy Inc. Class A | 1.08% | 107,400 | $3.1M | Reduce -26.2% |
| PRCT Procept Biorobotics Corp. | 1.06% | 38,638 | $3.1M | Reduce -13.1% |
| LBTYK Liberty Global Ltd. Class C | 1.06% | 142,702 | $3.1M | No change |
| FLR Fluor Corp. | 1.05% | 64,331 | $3.1M | Add +24.4% |
| RYAAY Ryanair Holdings PLC-SP ADR | 1.05% | 67,388 | $3.0M | Add +150.0% |
| SSNC Ss&c Technologies Holdings | 1.04% | 40,675 | $3.0M | Reduce -4.2% |
| SAH Sonic Automotive Inc. Class A | 1.02% | 50,800 | $3.0M | No change |
| TRNS Transcat Inc. | 1.00% | 24,217 | $2.9M | Add +68.9% |
| UBER Uber Technologies Inc. | 0.94% | 36,500 | $2.7M | Reduce -9.9% |
| KRUS Kura Sushi USA Inc. Class A | 0.92% | 33,235 | $2.7M | Add +64.3% |
| VFC VF Corp. | 0.91% | 133,000 | $2.7M | New |
| NTRA Natera Inc. | 0.91% | 20,806 | $2.6M | Reduce -29.2% |
| CSGP Costar Group Inc. | 0.88% | 34,000 | $2.6M | No change |
| XYL Xylem Inc. | 0.84% | 18,013 | $2.4M | Reduce -8.1% |
| PINS Pinterest Inc. Class A | 0.83% | 75,000 | $2.4M | New |
| UTI Universal Technical Institut | 0.81% | 145,950 | $2.4M | Add +36.9% |
| EOLS Evolus Inc. | 0.77% | 138,000 | $2.2M | New |
| CWST Casella Waste Systems Inc. Class A | 0.75% | 22,053 | $2.2M | Reduce -4.3% |
| LKQ LKQ Corp. | 0.74% | 54,300 | $2.2M | Reduce -6.9% |
| PANW Palo Alto Networks Inc. | 0.74% | 6,323 | $2.2M | Reduce -4.5% |
| AX Axos Financial Inc. | 0.73% | 33,624 | $2.1M | No change |
| ARDT Ardent Health Inc. | 0.71% | 113,000 | $2.1M | New |
| CHDN Churchill Downs Inc. | 0.70% | 15,171 | $2.1M | Reduce -1.3% |
| TTEK Tetra Tech Inc. | 0.69% | 42,500 | $2.0M | Reduce -10.5% |
| FN Fabrinet | 0.68% | 8,400 | $2.0M | Reduce -4.5% |
| GXO Gxo Logistics Inc. | 0.68% | 38,000 | $2.0M | No change |
| RNG Ringcentral Inc. Class A | 0.67% | 62,061 | $2.0M | Reduce -7.5% |
| BKSY Blacksky Technology Inc. | 0.65% | 400,000 | $1.9M | New |
| NOVAQ Sunnova Energy International | 0.65% | 193,225 | $1.9M | Reduce -48.0% |
| WIX Wix.com Ltd. | 0.64% | 11,210 | $1.9M | Reduce -4.3% |
| EXFY Expensify Inc. Class A | 0.63% | 935,000 | $1.8M | Add +33.6% |
| XPOF Xponential Fitness Inc. Class A | 0.59% | 139,519 | $1.7M | Add +100.8% |
| PHLT Performant Healthcare Inc. | 0.59% | 460,000 | $1.7M | Reduce -4.2% |
| WEX Wex Inc. | 0.59% | 8,200 | $1.7M | No change |
| DXCM Dexcom Inc. | 0.59% | 25,548 | $1.7M | Reduce -0.7% |
| IMXI International Money Express | 0.59% | 92,599 | $1.7M | Reduce -11.2% |
| HOMB Home Bancshares Inc. | 0.53% | 56,912 | $1.5M | No change |
| PACK Ranpak Holdings Corp. | 0.51% | 226,621 | $1.5M | Add +166.6% |
| CPA Copa Holdings SA Class A | 0.50% | 15,500 | $1.5M | No change |
| NVEE NV5 Global Inc. | 0.50% | 15,500 | $1.4M | No change |
| KEX Kirby Corp. | 0.49% | 11,745 | $1.4M | No change |
| DLB Dolby Laboratories Inc. Class A | 0.49% | 18,500 | $1.4M | No change |
| ASPN Aspen Aerogels Inc. | 0.48% | 50,000 | $1.4M | Add +66.7% |
| JBHT Hunt (jb) Transprt SVCS Inc. | 0.47% | 8,000 | $1.4M | No change |
| PRDO Perdoceo Education Corp. | 0.47% | 61,000 | $1.4M | New |
| LW Lamb Weston Holdings Inc. | 0.44% | 20,000 | $1.3M | New |
| OKLO Oklo Inc. | 0.44% | 160,000 | $1.3M | New |
| EEFT Euronet Worldwide Inc. | 0.44% | 13,000 | $1.3M | Reduce -10.3% |
| F Ford Motor Co. filed as FORD MTR CO | 0.44% | 120,000 | $1.3M | New |
| RXO Rxo Inc. | 0.43% | 45,000 | $1.3M | No change |
| RTO Rentokil Initial PLC-SP ADR | 0.43% | 50,000 | $1.2M | New |
| BLDR Builders Firstsource Inc. | 0.40% | 6,000 | $1.2M | Reduce -14.3% |
| FCFS Firstcash Holdings Inc. | 0.39% | 10,000 | $1.1M | No change |
| VCEL Vericel Corp. | 0.39% | 26,824 | $1.1M | Reduce -40.0% |
| LEA Lear Corp. | 0.39% | 10,325 | $1.1M | Reduce -32.6% |
| CTLP Cantaloupe Inc. | 0.39% | 151,795 | $1.1M | No change |
| CMPR Cimpress PLC | 0.32% | 11,300 | $926K | No change |
| VCYT Veracyte Inc. | 0.32% | 27,000 | $919K | No change |
| PTLO Portillo's Inc. Class A | 0.31% | 68,000 | $916K | Add +41.7% |
| META Meta Platforms Inc. Class A | 0.29% | 1,500 | $859K | Reduce -25.0% |
| CURV Torrid Holdings Inc. | 0.27% | 203,000 | $798K | New |
| BOW Bowhead Specialty Holdings I | 0.25% | 26,222 | $734K | Add +2.8% |
| INOD Innodata Inc. | 0.23% | 40,000 | $671K | New |
| BRBR Bellring Brands Inc. | 0.22% | 10,659 | $647K | No change |
| RYAN Ryan Specialty Holdings Inc. | 0.19% | 8,207 | $545K | Reduce -49.7% |
Portfolio Sells Q2 2024 → Q3 2024
| MU Micron Technology Inc. | Reduce -40.3% | 1.75% | −2.19 |
| INFN Infinera Corp. | Sold out | 0.00% | −1.77 |
| IRTC Irhythm Holdings Inc. | Sold out | 0.00% | −1.58 |
| UCTT Ultra Clean Holdings Inc. | Reduce -27.5% | 1.54% | −1.22 |
| MRVL Marvell Technology Inc. | Sold out | 0.00% | −1.15 |
| PAGS Pagseguro Digital Ltd. Class A | Reduce -9.3% | 1.87% | −1.09 |
| SNOW Snowflake Inc. | Reduce -27.4% | 1.46% | −1.04 |
| NARI Inari Medical Inc. | Sold out | 0.00% | −0.95 |
| CECO Ceco Environmental Corp. | Reduce -36.1% | 1.36% | −0.95 |
| ATEC Alphatec Holdings Inc. | Sold out | 0.00% | −0.95 |
| KIDS Orthopediatrics Corp. | Sold out | 0.00% | −0.89 |
| RXST Rxsight Inc. | Sold out | 0.00% | −0.89 |
| RL Ralph Lauren Corp. | Sold out | 0.00% | −0.70 |
| INST Instructure Holdings Inc. | Sold out | 0.00% | −0.68 |
| SIX Six Flags Entertainment Corp. | Sold out | 0.00% | −0.63 |
| UAA Under Armour Inc. Class A | Sold out | 0.00% | −0.57 |
| LIND Lindblad Expeditions Holding | Reduce -21.5% | 1.30% | −0.53 |
| GPGI Gpgi Inc. | Sold out | 0.00% | −0.48 |
| DXCM Dexcom Inc. | Reduce -0.7% | 0.59% | −0.47 |
| CROX Crocs Inc. | Reduce -7.4% | 2.79% | −0.42 |
| RUN Sunrun Inc. | Sold out | 0.00% | −0.40 |
| IAS Integral Ad Science Holding | Sold out | 0.00% | −0.39 |
| CHWY Chewy Inc. Class A | Reduce -26.2% | 1.08% | −0.36 |
| VCEL Vericel Corp. | Reduce -40.0% | 0.39% | −0.36 |
| LESLIES INC | Reduce -59.4% | 0.14% | −0.35 |
| ARCB Arcbest Corp. | Reduce -13.3% | 1.46% | −0.30 |
| BIRK Birkenstock Holding PLC | Sold out | 0.00% | −0.30 |
| SPIR Spire Global Inc. | Sold out | 0.00% | −0.28 |
| BGC BGC Group Inc. Class A | Sold out | 0.00% | −0.27 |
| NTRA Natera Inc. | Reduce -29.2% | 0.91% | −0.25 |
| LEA Lear Corp. | Reduce -32.6% | 0.39% | −0.25 |
| IQV Iqvia Holdings Inc. | Sold out | 0.00% | −0.23 |
| TREE Lendingtree Inc. | Sold out | 0.00% | −0.23 |
| IMXI International Money Express | Reduce -11.2% | 0.59% | −0.20 |
| RYAN Ryan Specialty Holdings Inc. | Reduce -49.7% | 0.19% | −0.16 |
| JLL Jones Lang Lasalle Inc. | Sold out | 0.00% | −0.15 |
| HCA HCA Healthcare Inc. | Reduce -25.0% | 1.26% | −0.14 |
| LKQ LKQ Corp. | Reduce -6.9% | 0.74% | −0.14 |
| XYL Xylem Inc. | Reduce -8.1% | 0.84% | −0.13 |
| UBER Uber Technologies Inc. | Reduce -9.9% | 0.94% | −0.13 |
| NOVAQ Sunnova Energy International | Reduce -48.0% | 0.65% | −0.11 |
| HOLX Hologic Inc. | Reduce -11.3% | 1.20% | −0.10 |
| EEFT Euronet Worldwide Inc. | Reduce -10.3% | 0.44% | −0.10 |
| FN Fabrinet | Reduce -4.5% | 0.68% | −0.10 |
| CALX Calix Inc. | Reduce -9.1% | 1.33% | −0.08 |
| CWST Casella Waste Systems Inc. Class A | Reduce -4.3% | 0.75% | −0.08 |
| CHDN Churchill Downs Inc. | Reduce -1.3% | 0.70% | −0.07 |
| PANW Palo Alto Networks Inc. | Reduce -4.5% | 0.74% | −0.07 |
| META Meta Platforms Inc. Class A | Reduce -25.0% | 0.29% | −0.07 |
| MODVQ Modivcare Inc. | Sold out | 0.00% | −0.06 |
Portfolio Buys Q2 2024 → Q3 2024
| JD Jd.com Inc.-ADR | New | 1.88% | +1.88 |
| OKTA Okta Inc. | New | 1.63% | +1.63 |
| CCL Carnival Corp. | Add +664.7% | 1.65% | +1.42 |
| TPC Tutor Perini Corp. | New | 1.24% | +1.24 |
| ORN Orion Group Holdings Inc. | New | 1.20% | +1.20 |
| UA Under Armour Inc. Class C | Add +137.7% | 1.81% | +1.18 |
| MMSI Merit Medical Systems Inc. | New | 1.12% | +1.12 |
| VFC VF Corp. | New | 0.91% | +0.91 |
| PINS Pinterest Inc. Class A | New | 0.83% | +0.83 |
| EOLS Evolus Inc. | New | 0.77% | +0.77 |
| ARDT Ardent Health Inc. | New | 0.71% | +0.71 |
| SSYS Stratasys Ltd. | Add +108.7% | 1.37% | +0.67 |
| BKSY Blacksky Technology Inc. | New | 0.65% | +0.65 |
| EVH Evolent Health Inc. Class A | Add +9.0% | 1.82% | +0.62 |
| U Unity Software Inc. | Add +25.0% | 1.36% | +0.53 |
| PRDO Perdoceo Education Corp. | New | 0.47% | +0.47 |
| KRUS Kura Sushi USA Inc. Class A | Add +64.3% | 0.92% | +0.46 |
| LW Lamb Weston Holdings Inc. | New | 0.44% | +0.44 |
| OKLO Oklo Inc. | New | 0.44% | +0.44 |
| F Ford Motor Co. | New | 0.44% | +0.44 |
| RTO Rentokil Initial PLC-SP ADR | New | 0.43% | +0.43 |
| TRNS Transcat Inc. | Add +68.9% | 1.00% | +0.38 |
| BILL Bill Holdings Inc. | Add +28.1% | 2.07% | +0.36 |
| PACK Ranpak Holdings Corp. | Add +166.6% | 0.51% | +0.31 |
| CURV Torrid Holdings Inc. | New | 0.27% | +0.27 |
| EXFY Expensify Inc. Class A | Add +33.6% | 0.63% | +0.25 |
| TEAM Atlassian Corp. Class A | Add +40.0% | 1.53% | +0.24 |
| FLR Fluor Corp. | Add +24.4% | 1.05% | +0.24 |
| INOD Innodata Inc. | New | 0.23% | +0.23 |
| ASPN Aspen Aerogels Inc. | Add +66.7% | 0.48% | +0.22 |
| UTI Universal Technical Institut | Add +36.9% | 0.81% | +0.21 |
| XPOF Xponential Fitness Inc. Class A | Add +100.8% | 0.59% | +0.20 |
| W Wayfair Inc. Class A | Add +7.3% | 2.55% | +0.19 |
| ASAN Asana Inc. Class A | Add +50.0% | 1.25% | +0.19 |
| NCNO Ncino Inc. | New | 0.16% | +0.16 |
| PTLO Portillo's Inc. Class A | Add +41.7% | 0.31% | +0.14 |
| CDLX Cardlytics Inc. | New | 0.12% | +0.12 |
| DHC Diversified Healthcare Trust | New | 0.12% | +0.12 |
| GRDN Guardian Phrmcy Services-A | New | 0.09% | +0.09 |
| LAW CS Disco Inc. | Add +13.0% | 1.23% | +0.06 |
| TNDM Tandem Diabetes Care Inc. | Add +2.8% | 1.87% | +0.04 |
| BOW Bowhead Specialty Holdings I | Add +2.8% | 0.25% | +0.02 |
| RYAAY Ryanair Holdings PLC-SP ADR | Add +150.0% | 1.05% | −0.10 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 145 | $284.3M | MU, SWIM, SSYS, COMP, ALHC |
| Q1 2026 | 137 | $221.6M | MU, SWIM, SSYS, FOXF, JHX |
| Q4 2025 | 125 | $259.5M | MU, SWIM, JHX, LAW, LIND |
| Q3 2025 | 122 | $281.1M | SWIM, JHX, TEAM, SSYS, MU |
| Q2 2025 | 119 | $264.7M | SWIM, SSYS, UA, JHX, TEAM |
| Q1 2025 | 118 | $246.6M | SWIM, SSYS, UA, BILL, W |
| Q4 2024 | 115 | $295.4M | SWIM, UA, SNBRQ, SSYS, W |
| Q3 2024 | 109 | $291.2M | SWIM, CROX, BBW, W, SNBRQ |
| Q2 2024 | 109 | $275.2M | MU, CROX, PAGS, UCTT, SNOW |
| Q1 2024 | 112 | $313.0M | PAGS, EVH, PLAY, UCTT, SNBRQ |