Formula Growth Ltd.

Name: FORMULA GROWTH LTD 13F holdings, Q4 2024
Creator: FORMULA GROWTH LTD
Published: 2025-02-13

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q3 2024Q2 2024Q1 2024

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Formula Growth Ltd. reported 115 stock positions worth $295.4 million. Its top holding was Latham (SWIM) at 2.8% of the portfolio, followed by Under Armour Class C (UA, 2.5%) and Sleep Number (SNBRQ, 2.5%). Compared with Q3 2024, it opened 27 new positions, sold out of 21, added to 21 and reduced 42. The biggest buy was a new position in Monday.com (MNDY) and the biggest sale an exit from Crocs (CROX).

Most Recent 13F: Q2 2026
Location: MONTREAL, A8
CIK: 0001093219
Portfolio Value: $295.4M (Q4 2024)
SEC Filing: 0001011438-25-000114 ↗ filed Feb 13, 2025

Holdings Value

Holdings 115 stocks · $295.4M


SWIM Latham Group Inc.	2.83%	1,203,079	$8.4M	Reduce -17.7%
UA Under Armour Inc. Class C	2.53%	1,000,000	$7.5M	Add +58.7%
SNBRQ Sleep Number Corp.	2.50%	485,206	$7.4M	Add +31.8%
SSYS Stratasys Ltd.	2.29%	760,000	$6.8M	Add +58.3%
W Wayfair Inc. Class A	2.17%	144,689	$6.4M	Add +9.5%
VFC VF Corp.	2.01%	276,608	$5.9M	Add +108.0%
OKTA Okta Inc.	1.87%	70,000	$5.5M	Add +9.4%
ACVA Acv Auctions Inc. Class A	1.85%	252,643	$5.5M	Add +5.6%
CALX Calix Inc.	1.83%	155,000	$5.4M	Add +55.0%
PODD Insulet Corp.	1.79%	20,288	$5.3M	Reduce -1.8%
MNDY Monday.com Ltd.	1.67%	21,000	$4.9M	New
URBN Urban Outfitters Inc.	1.67%	90,000	$4.9M	New
ORN Orion Group Holdings Inc.	1.64%	662,000	$4.9M	Add +9.2%
UMBF Umb Financial Corp.	1.61%	42,100	$4.8M	New
LIND Lindblad Expeditions Holding	1.57%	390,775	$4.6M	Reduce -4.9%
WAL Western Alliance Bancorp	1.56%	55,173	$4.6M	New
TNDM Tandem Diabetes Care Inc.	1.54%	125,965	$4.5M	Reduce -1.7%
PAGS Pagseguro Digital Ltd. Class A	1.49%	702,987	$4.4M	Add +11.4%
BBW Build-A-Bear Workshop Inc.	1.44%	92,197	$4.2M	Reduce -58.5%
CECO Ceco Environmental Corp.	1.43%	139,958	$4.2M	Reduce -0.7%
XPOF Xponential Fitness Inc. Class A	1.39%	306,119	$4.1M	Add +119.4%
CPRI Capri Holdings Ltd.	1.39%	195,384	$4.1M	New
U Unity Software Inc.	1.37%	180,000	$4.0M	Add +2.9%
RDNT Radnet Inc.	1.34%	56,750	$4.0M	Reduce -13.7%
XPO Xpo Inc.	1.33%	30,000	$3.9M	Reduce -10.4%
BILL Bill Holdings Inc.	1.32%	46,000	$3.9M	Reduce -59.6%
ARCB Arcbest Corp.	1.31%	41,539	$3.9M	Add +6.3%
DXCM Dexcom Inc.	1.27%	48,148	$3.7M	Add +88.5%
LAW CS Disco Inc.	1.27%	750,000	$3.7M	Add +22.9%
KRUS Kura Sushi USA Inc. Class A	1.24%	40,563	$3.7M	Add +22.1%
UTI Universal Technical Institut	1.20%	137,650	$3.5M	Reduce -5.7%
BKSY Blacksky Technology Inc.	1.19%	326,000	$3.5M	Reduce -18.5%
CCL Carnival Corp.	1.19%	140,500	$3.5M	Reduce -46.0%
GENI Genius Sports Ltd.	1.10%	377,220	$3.3M	New
SAH Sonic Automotive Inc. Class A	1.09%	50,800	$3.2M	No change
MU Micron Technology Inc.	1.08%	38,000	$3.2M	Reduce -22.8%
EXFY Expensify Inc. Class A	1.08%	950,000	$3.2M	Add +1.6%
CVSA Covista Inc. filed as ADTALEM GLOBAL ED INC	1.08%	35,000	$3.2M	New
TPC Tutor Perini Corp.	1.07%	131,040	$3.2M	Reduce -1.5%
MMSI Merit Medical Systems Inc.	1.06%	32,458	$3.1M	Reduce -1.2%
ASAN Asana Inc. Class A	1.03%	150,000	$3.0M	Reduce -52.4%
SSNC Ss&c Technologies Holdings	1.02%	39,675	$3.0M	Reduce -2.5%
F Ford Motor Co. filed as FORD MTR CO	1.00%	298,346	$3.0M	Add +148.6%
RYAAY Ryanair Holdings PLC-SP ADR	0.99%	67,388	$2.9M	No change
RBA RB Global Inc.	0.98%	32,243	$2.9M	New
ARDT Ardent Health Inc.	0.96%	166,000	$2.8M	Add +46.9%
NTRA Natera Inc.	0.91%	17,006	$2.7M	Reduce -18.3%
TWLO Twilio Inc. Class A	0.90%	24,688	$2.7M	Reduce -55.7%
PRCT Procept Biorobotics Corp.	0.90%	33,027	$2.7M	Reduce -14.5%
CSGP Costar Group Inc.	0.82%	34,000	$2.4M	No change
HCA HCA Healthcare Inc.	0.81%	8,000	$2.4M	Reduce -11.1%
AX Axos Financial Inc.	0.80%	33,624	$2.3M	No change
CWST Casella Waste Systems Inc. Class A	0.79%	22,053	$2.3M	No change
BBWI Bath & Body Works Inc.	0.76%	58,000	$2.2M	New
BC Brunswick Corp.	0.76%	34,555	$2.2M	New
PANW Palo Alto Networks Inc.	0.75%	12,146	$2.2M	Reduce -4.0%
UBER Uber Technologies Inc.	0.75%	36,500	$2.2M	No change
WIX Wix.com Ltd.	0.71%	9,710	$2.1M	Reduce -13.4%
CHDN Churchill Downs Inc.	0.68%	15,023	$2.0M	Reduce -1.0%
LKQ LKQ Corp.	0.68%	54,300	$2.0M	No change
AEYE Audioeye Inc.	0.67%	130,000	$2.0M	New
IMXI International Money Express	0.65%	92,599	$1.9M	No change
CXM Sprinklr Inc. Class A	0.64%	225,000	$1.9M	New
PROF Profound Medical Corp.	0.64%	250,000	$1.9M	New
LBTYK Liberty Global Ltd. Class C	0.63%	142,702	$1.9M	No change
FN Fabrinet	0.63%	8,400	$1.8M	No change
PRDO Perdoceo Education Corp.	0.62%	69,066	$1.8M	Add +13.2%
PVH PVH Corp.	0.60%	16,805	$1.8M	New
WRBY Warby Parker Inc. Class A	0.60%	73,000	$1.8M	New
CDNA Caredx Inc.	0.57%	78,000	$1.7M	New
GXO Gxo Logistics Inc.	0.56%	38,000	$1.7M	No change
HOMB Home Bancshares Inc.	0.55%	56,912	$1.6M	No change
TTEK Tetra Tech Inc.	0.53%	39,050	$1.6M	Reduce -8.1%
PACK Ranpak Holdings Corp.	0.51%	220,471	$1.5M	Reduce -2.7%
VCEL Vericel Corp.	0.50%	26,824	$1.5M	No change
DLB Dolby Laboratories Inc. Class A	0.49%	18,500	$1.4M	No change
WEX Wex Inc.	0.49%	8,200	$1.4M	No change
PHLT Performant Healthcare Inc.	0.46%	452,500	$1.4M	Reduce -1.6%
CPA Copa Holdings SA Class A	0.46%	15,500	$1.4M	No change
EEFT Euronet Worldwide Inc.	0.45%	13,000	$1.3M	No change
MATW Matthews Intl Corp. Class A	0.45%	48,000	$1.3M	New
INTC Intel Corp.	0.44%	65,000	$1.3M	New
CTLP Cantaloupe Inc.	0.43%	135,095	$1.3M	Reduce -11.0%
FLR Fluor Corp.	0.43%	25,545	$1.3M	Reduce -60.3%
PLMR Palomar Holdings Inc.	0.42%	11,809	$1.2M	New
KEX Kirby Corp.	0.42%	11,745	$1.2M	No change
SNREY Sunrise Communicat Class A	0.42%	28,540	$1.2M	New
JBHT Hunt (jb) Transprt SVCS Inc.	0.40%	7,000	$1.2M	Reduce -12.5%
RDDT Reddit Inc. Class A	0.39%	7,000	$1.1M	New
NVEE NV5 Global Inc.	0.38%	59,000	$1.1M	Reduce -4.8%
SNOW Snowflake Inc.	0.37%	7,000	$1.1M	Reduce -81.1%
RXO Rxo Inc.	0.36%	45,000	$1.1M	No change
VCYT Veracyte Inc.	0.36%	27,000	$1.1M	No change
FCFS Firstcash Holdings Inc.	0.35%	10,000	$1.0M	No change
EOLS Evolus Inc.	0.34%	90,830	$1.0M	Reduce -34.2%
LEA Lear Corp.	0.32%	10,075	$954K	Reduce -2.4%
NRDS Nerdwallet Inc. Class A	0.32%	70,000	$931K	New
FOXF Fox Factory Holding Corp.	0.31%	30,000	$908K	New
LESLIES INC	0.31%	404,879	$903K	Add +211.7%
BLDR Builders Firstsource Inc.	0.29%	6,000	$858K	No change
CMPR Cimpress PLC	0.27%	11,300	$810K	No change
BRBR Bellring Brands Inc.	0.27%	10,659	$803K	No change
ALL Allstate Corp.	0.22%	3,298	$636K	New
ELF Elf Beauty Inc.	0.21%	5,000	$628K	New
RNG Ringcentral Inc. Class A	0.20%	17,061	$597K	Reduce -72.5%
RMNI Rimini Street Inc.	0.20%	220,000	$587K	New
META Meta Platforms Inc. Class A	0.20%	1,000	$586K	Reduce -33.3%
CNTY Century Casinos Inc.	0.18%	161,647	$524K	Reduce -19.2%
RTO Rentokil Initial PLC-SP ADR	0.17%	20,000	$506K	Reduce -60.0%
PTLO Portillo's Inc. Class A	0.14%	43,000	$404K	Reduce -36.8%
NCNO Ncino Inc.	0.13%	11,000	$369K	Reduce -26.7%
HOLX Hologic Inc.	0.12%	4,810	$347K	Reduce -88.8%
CMRC Commerce.com Inc. filed as BIGCOMMERCE HLDGS INC	0.10%	50,000	$306K	New
OKLO Oklo Inc.	0.09%	12,831	$272K	Reduce -92.0%
STAA Staar Surgical Co.	0.08%	10,200	$248K	No change

Portfolio Sells Q3 2024 → Q4 2024


CROX Crocs Inc.	Sold out	0.00%	−2.79
JD Jd.com Inc.-ADR	Sold out	0.00%	−1.88
EVH Evolent Health Inc. Class A	Sold out	0.00%	−1.82
UCTT Ultra Clean Holdings Inc.	Sold out	0.00%	−1.54
TEAM Atlassian Corp. Class A	Sold out	0.00%	−1.53
BBW Build-A-Bear Workshop Inc.	Reduce -58.5%	1.44%	−1.19
SNOW Snowflake Inc.	Reduce -81.1%	0.37%	−1.09
CHWY Chewy Inc. Class A	Sold out	0.00%	−1.08
HOLX Hologic Inc.	Reduce -88.8%	0.12%	−1.08
TRNS Transcat Inc.	Sold out	0.00%	−1.00
XYL Xylem Inc.	Sold out	0.00%	−0.84
PINS Pinterest Inc. Class A	Sold out	0.00%	−0.83
BILL Bill Holdings Inc.	Reduce -59.6%	1.32%	−0.75
MU Micron Technology Inc.	Reduce -22.8%	1.08%	−0.67
NOVAQ Sunnova Energy International	Sold out	0.00%	−0.65
FLR Fluor Corp.	Reduce -60.3%	0.43%	−0.63
SWIM Latham Group Inc.	Reduce -17.7%	2.83%	−0.58
ASPN Aspen Aerogels Inc.	Sold out	0.00%	−0.48
RNG Ringcentral Inc. Class A	Reduce -72.5%	0.20%	−0.47
CCL Carnival Corp.	Reduce -46.0%	1.19%	−0.46
LW Lamb Weston Holdings Inc.	Sold out	0.00%	−0.44
HCA HCA Healthcare Inc.	Reduce -11.1%	0.81%	−0.44
EOLS Evolus Inc.	Reduce -34.2%	0.34%	−0.43
OKLO Oklo Inc.	Reduce -92.0%	0.09%	−0.35
TWLO Twilio Inc. Class A	Reduce -55.7%	0.90%	−0.34
TNDM Tandem Diabetes Care Inc.	Reduce -1.7%	1.54%	−0.33
CURV Torrid Holdings Inc.	Sold out	0.00%	−0.27
RTO Rentokil Initial PLC-SP ADR	Reduce -60.0%	0.17%	−0.26
BOW Bowhead Specialty Holdings I	Sold out	0.00%	−0.25
INOD Innodata Inc.	Sold out	0.00%	−0.23
RDNT Radnet Inc.	Reduce -13.7%	1.34%	−0.22
ASAN Asana Inc. Class A	Reduce -52.4%	1.03%	−0.22
RYAN Ryan Specialty Holdings Inc.	Sold out	0.00%	−0.19
PTLO Portillo's Inc. Class A	Reduce -36.8%	0.14%	−0.18
COOK Traeger Inc.	Sold out	0.00%	−0.17
TPC Tutor Perini Corp.	Reduce -1.5%	1.07%	−0.17
PRCT Procept Biorobotics Corp.	Reduce -14.5%	0.90%	−0.16
TTEK Tetra Tech Inc.	Reduce -8.1%	0.53%	−0.16
PHLT Performant Healthcare Inc.	Reduce -1.6%	0.46%	−0.13
NVEE NV5 Global Inc.	Reduce -4.8%	0.38%	−0.12
CDLX Cardlytics Inc.	Sold out	0.00%	−0.12
DHC Diversified Healthcare Trust	Sold out	0.00%	−0.12
META Meta Platforms Inc. Class A	Reduce -33.3%	0.20%	−0.10
GRDN Guardian Phrmcy Services-A	Sold out	0.00%	−0.09
JBHT Hunt (jb) Transprt SVCS Inc.	Reduce -12.5%	0.40%	−0.07
LEA Lear Corp.	Reduce -2.4%	0.32%	−0.06
MMSI Merit Medical Systems Inc.	Reduce -1.2%	1.06%	−0.05
MEI Methode Electronics Inc.	Sold out	0.00%	−0.05
NCNO Ncino Inc.	Reduce -26.7%	0.13%	−0.04
CHDN Churchill Downs Inc.	Reduce -1.0%	0.68%	−0.03

Portfolio Buys Q3 2024 → Q4 2024


MNDY Monday.com Ltd.	New	1.67%	+1.67
URBN Urban Outfitters Inc.	New	1.67%	+1.67
UMBF Umb Financial Corp.	New	1.61%	+1.61
WAL Western Alliance Bancorp	New	1.56%	+1.56
CPRI Capri Holdings Ltd.	New	1.39%	+1.39
GENI Genius Sports Ltd.	New	1.10%	+1.10
VFC VF Corp.	Add +108.0%	2.01%	+1.10
CVSA Covista Inc.	New	1.08%	+1.08
RBA RB Global Inc.	New	0.98%	+0.98
SSYS Stratasys Ltd.	Add +58.3%	2.29%	+0.92
XPOF Xponential Fitness Inc. Class A	Add +119.4%	1.39%	+0.80
BBWI Bath & Body Works Inc.	New	0.76%	+0.76
BC Brunswick Corp.	New	0.76%	+0.76
UA Under Armour Inc. Class C	Add +58.7%	2.53%	+0.72
DXCM Dexcom Inc.	Add +88.5%	1.27%	+0.68
AEYE Audioeye Inc.	New	0.67%	+0.67
CXM Sprinklr Inc. Class A	New	0.64%	+0.64
PROF Profound Medical Corp.	New	0.64%	+0.64
PVH PVH Corp.	New	0.60%	+0.60
WRBY Warby Parker Inc. Class A	New	0.60%	+0.60
CDNA Caredx Inc.	New	0.57%	+0.57
F Ford Motor Co.	Add +148.6%	1.00%	+0.56
CALX Calix Inc.	Add +55.0%	1.83%	+0.50
MATW Matthews Intl Corp. Class A	New	0.45%	+0.45
EXFY Expensify Inc. Class A	Add +1.6%	1.08%	+0.45
ORN Orion Group Holdings Inc.	Add +9.2%	1.64%	+0.44
INTC Intel Corp.	New	0.44%	+0.44
PLMR Palomar Holdings Inc.	New	0.42%	+0.42
SNREY Sunrise Communicat Class A	New	0.42%	+0.42
RDDT Reddit Inc. Class A	New	0.39%	+0.39
KRUS Kura Sushi USA Inc. Class A	Add +22.1%	1.24%	+0.32
NRDS Nerdwallet Inc. Class A	New	0.32%	+0.32
FOXF Fox Factory Holding Corp.	New	0.31%	+0.31
ARDT Ardent Health Inc.	Add +46.9%	0.96%	+0.25
OKTA Okta Inc.	Add +9.4%	1.87%	+0.23
ALL Allstate Corp.	New	0.22%	+0.22
ELF Elf Beauty Inc.	New	0.21%	+0.21
RMNI Rimini Street Inc.	New	0.20%	+0.20
SNBRQ Sleep Number Corp.	Add +31.8%	2.50%	+0.19
ACVA Acv Auctions Inc. Class A	Add +5.6%	1.85%	+0.18
LESLIES INC	Add +211.7%	0.31%	+0.16
PRDO Perdoceo Education Corp.	Add +13.2%	0.62%	+0.15
CMRC Commerce.com Inc.	New	0.10%	+0.10
LAW CS Disco Inc.	Add +22.9%	1.27%	+0.04
U Unity Software Inc.	Add +2.9%	1.37%	+0.01
ARCB Arcbest Corp.	Add +6.3%	1.31%	−0.14
PAGS Pagseguro Digital Ltd. Class A	Add +11.4%	1.49%	−0.38
W Wayfair Inc. Class A	Add +9.5%	2.17%	−0.38

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