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

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $313.0M Q1 2024 Q2 2024: $275.2M Q2 2024 Q3 2024: $291.2M $291.2M Q3 2024 Q4 2024: $295.4M Q4 2024 Q1 2025: $246.6M Q1 2025 Q2 2025: $264.7M Q2 2025 Q3 2025: $281.1M Q3 2025 Q4 2025: $259.5M Q4 2025 Q1 2026: $221.6M Q1 2026 Q2 2026: $284.3M Q2 2026

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%
CNTY Century Casinos Inc. 0.18% 200,000 $512K No change
COOK Traeger Inc. 0.17% 134,110 $494K Reduce -18.3%
NCNO Ncino Inc. 0.16% 15,000 $474K New
LESLIES INC 0.14% 129,879 $410K Reduce -59.4%
STAA Staar Surgical Co. 0.13% 10,200 $379K No change
CDLX Cardlytics Inc. 0.12% 110,000 $352K New
DHC Diversified Healthcare Trust 0.12% 82,000 $344K New
GRDN Guardian Phrmcy Services-A 0.09% 16,182 $272K New
MEI Methode Electronics Inc. 0.05% 12,385 $148K Reduce -54.8%

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

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 145$284.3MMU, SWIM, SSYS, COMP, ALHC
Q1 2026 137$221.6MMU, SWIM, SSYS, FOXF, JHX
Q4 2025 125$259.5MMU, SWIM, JHX, LAW, LIND
Q3 2025 122$281.1MSWIM, JHX, TEAM, SSYS, MU
Q2 2025 119$264.7MSWIM, SSYS, UA, JHX, TEAM
Q1 2025 118$246.6MSWIM, SSYS, UA, BILL, W
Q4 2024 115$295.4MSWIM, UA, SNBRQ, SSYS, W
Q3 2024 109$291.2MSWIM, CROX, BBW, W, SNBRQ
Q2 2024 109$275.2MMU, CROX, PAGS, UCTT, SNOW
Q1 2024 112$313.0MPAGS, EVH, PLAY, UCTT, SNBRQ