Formula Growth Ltd.

Name: FORMULA GROWTH LTD 13F holdings, Q1 2026
Creator: FORMULA GROWTH LTD
Published: 2026-05-14

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

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), Formula Growth Ltd. reported 137 stock positions worth $221.6 million. Its top holding was Micron Technology (MU) at 3.2% of the portfolio, followed by Latham (SWIM, 3.0%) and Stratasys (SSYS, 2.8%). Compared with Q4 2025, it opened 35 new positions, sold out of 23, added to 19 and reduced 45. The biggest buy was a new position in Modine Manufacturing (MOD) and the biggest sale Lindblad Expeditions (LIND, shares −86%).

Most Recent 13F: Q2 2026
Location: MONTREAL, A8
CIK: 0001093219
Portfolio Value: $221.6M (Q1 2026)
SEC Filing: 0001011438-26-000309 ↗ filed May 14, 2026

Holdings Value

Holdings 137 stocks · $221.6M


MU Micron Technology Inc.	3.20%	21,000	$7.1M	Reduce -34.4%
SWIM Latham Group Inc.	3.04%	1,255,082	$6.7M	Add +4.2%
SSYS Stratasys Ltd.	2.82%	800,000	$6.2M	Add +21.2%
FOXF Fox Factory Holding Corp.	2.07%	279,206	$4.6M	Add +100.6%
JHX James Hardie Ind PLC	2.02%	236,840	$4.5M	Reduce -22.8%
XPO Xpo Inc.	2.02%	23,000	$4.5M	No change
ALHC Alignment Healthcare Inc.	1.90%	239,208	$4.2M	Reduce -0.1%
COMP Compass Inc. Class A	1.87%	567,300	$4.1M	Add +32.8%
NOK Nokia Corp.-Spon ADR	1.72%	475,000	$3.8M	Add +72.7%
CECO Ceco Environmental Corp.	1.68%	62,344	$3.7M	Reduce -11.8%
RYAAY Ryanair Holdings PLC-SP ADR	1.63%	62,388	$3.6M	No change
FN Fabrinet	1.51%	6,400	$3.3M	No change
ORN Orion Group Holdings Inc.	1.46%	297,696	$3.2M	Reduce -1.2%
MOD Modine Manufacturing Co.	1.44%	14,700	$3.2M	New
UTHR United Therapeutics Corp.	1.43%	5,356	$3.2M	Reduce -4.6%
LULU Lululemon Athletica Inc.	1.38%	20,000	$3.1M	Add +233.3%
LAW CS Disco Inc.	1.38%	800,000	$3.1M	Add +6.7%
BTSG Brightspring Health Services	1.34%	69,678	$3.0M	Reduce -22.5%
KVYO Klaviyo Inc. Class A	1.32%	150,000	$2.9M	New
CVSA Covista Inc.	1.32%	25,304	$2.9M	Reduce -0.1%
HQY Healthequity Inc.	1.30%	34,552	$2.9M	Reduce -12.3%
BILL Bill Holdings Inc.	1.30%	75,000	$2.9M	Reduce -21.1%
U Unity Software Inc.	1.29%	130,000	$2.9M	Add +62.5%
EQPT Equipmentshare.com Inc. Class A	1.26%	136,950	$2.8M	New
RBA RB Global Inc.	1.20%	27,708	$2.7M	Reduce -8.4%
AX Axos Financial Inc.	1.18%	30,624	$2.6M	No change
PODD Insulet Corp.	1.14%	12,029	$2.5M	Reduce -0.1%
PACK Ranpak Holdings Corp.	1.12%	694,527	$2.5M	Reduce -29.8%
SAH Sonic Automotive Inc. Class A	1.11%	35,800	$2.5M	No change
FPS Forgent Power Solutions Class A	1.09%	82,852	$2.4M	New
HCA HCA Healthcare Inc.	1.07%	5,000	$2.4M	No change
SSNC Ss&c Technologies Holdings	1.06%	34,725	$2.3M	No change
UA Under Armour Inc. Class C	1.05%	400,000	$2.3M	Reduce -33.3%
AIR Aar Corp.	1.04%	20,974	$2.3M	Add +16.5%
NXT Nextpower Inc.	1.01%	18,603	$2.2M	Reduce -0.2%
TPC Tutor Perini Corp.	1.01%	28,962	$2.2M	Reduce -0.1%
MDB Mongodb Inc.	0.99%	9,000	$2.2M	New
ARLO Arlo Technologies Inc.	0.90%	140,000	$2.0M	Add +40.0%
UBER Uber Technologies Inc.	0.86%	26,500	$1.9M	No change
FCFS Firstcash Holdings Inc.	0.85%	10,000	$1.9M	No change
CALX Calix Inc.	0.84%	38,000	$1.9M	Add +280.0%
NAVN Navan Inc. Class A	0.84%	140,000	$1.9M	Add +180.0%
ARCB Arcbest Corp.	0.84%	18,838	$1.9M	Reduce -63.0%
LAUR Laureate Education Inc.	0.84%	53,177	$1.9M	Reduce -48.5%
RH RH	0.82%	13,000	$1.8M	Reduce -13.3%
NSP Insperity Inc.	0.81%	66,700	$1.8M	Add +42.8%
MEC Mayville Engineering Co. Inc.	0.81%	100,000	$1.8M	Add +150.0%
GXO Gxo Logistics Inc.	0.80%	34,000	$1.8M	No change
CPA Copa Holdings SA Class A	0.79%	15,500	$1.8M	No change
PANW Palo Alto Networks Inc.	0.79%	10,946	$1.8M	No change
LBTYK Liberty Global Ltd. Class C	0.76%	142,702	$1.7M	No change
PROF Profound Medical Corp.	0.71%	241,138	$1.6M	Add +18.8%
KEX Kirby Corp.	0.70%	11,745	$1.6M	No change
PSN Parsons Corp.	0.67%	27,500	$1.5M	Add +83.3%
JBHT Hunt (jb) Transprt SVCS Inc.	0.67%	7,000	$1.5M	No change
INSM Insmed Inc.	0.66%	9,000	$1.5M	New
GDYN Grid Dynamics Holdings Inc.	0.65%	252,941	$1.4M	Reduce -23.0%
HOMB Home Bancshares Inc.	0.63%	51,912	$1.4M	No change
CSGP Costar Group Inc.	0.62%	34,000	$1.4M	No change
CDNA Caredx Inc.	0.61%	78,478	$1.4M	Reduce -22.0%
TNDM Tandem Diabetes Care Inc.	0.61%	70,828	$1.4M	Reduce -0.1%
CWST Casella Waste Systems Inc. Class A	0.61%	17,053	$1.4M	No change
TWLO Twilio Inc. Class A	0.61%	10,688	$1.3M	No change
BBW Build-A-Bear Workshop Inc.	0.59%	35,142	$1.3M	Reduce -20.0%
WDAY Workday Inc. Class A	0.59%	10,000	$1.3M	New
AEYE Audioeye Inc.	0.57%	200,000	$1.3M	Reduce -25.9%
ABNB Airbnb Inc. Class A	0.57%	10,000	$1.3M	Add +100.0%
WEX Wex Inc.	0.57%	8,200	$1.3M	No change
TATT Tat Technologies Ltd.	0.56%	30,801	$1.3M	No change
LKQ LKQ Corp.	0.56%	42,300	$1.2M	No change
TEAM Atlassian Corp. Class A	0.55%	18,000	$1.2M	Reduce -41.9%
GENI Genius Sports Ltd.	0.55%	276,355	$1.2M	Reduce -0.1%
LNTH Lantheus Holdings Inc.	0.55%	16,000	$1.2M	New
FSLR First Solar Inc.	0.54%	6,094	$1.2M	Reduce -33.8%
ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW	0.54%	74,000	$1.2M	Reduce -59.3%
TTEK Tetra Tech Inc.	0.53%	39,050	$1.2M	No change
CSTL Castle Biosciences Inc.	0.51%	46,000	$1.1M	New
ROAD Construction Partners Inc. Class A	0.50%	10,000	$1.1M	New
BRBR Bellring Brands Inc.	0.47%	65,000	$1.0M	New
ONON On Holding AG Class A filed as ON HLDG AG	0.46%	30,000	$1.0M	New
EHC Encompass Health Corp.	0.45%	10,403	$1.0M	Reduce -32.6%
LIND Lindblad Expeditions Holding	0.43%	55,591	$962K	Reduce -86.2%
RDNT Radnet Inc.	0.43%	17,176	$960K	No change
DLB Dolby Laboratories Inc. Class A	0.43%	15,900	$955K	No change
APO Apollo Global Management Inc.	0.43%	8,500	$947K	New
WCC Wesco International Inc.	0.41%	3,300	$903K	Reduce -31.3%
MANE Veradermics Inc.	0.40%	14,000	$884K	New
VCTR Victory Capital Holding - A	0.40%	13,426	$879K	Reduce -57.1%
DXCM Dexcom Inc.	0.39%	13,856	$870K	Reduce -1.4%
VCYT Veracyte Inc.	0.39%	27,000	$870K	No change
EEFT Euronet Worldwide Inc.	0.39%	13,000	$863K	No change
GPN Global Payments Inc.	0.39%	12,759	$859K	Reduce -58.5%
RNG Ringcentral Inc. Class A	0.39%	23,000	$855K	No change
AGYS Agilysys Inc.	0.39%	12,000	$854K	New
VCEL Vericel Corp.	0.37%	25,824	$831K	No change
CMPR Cimpress PLC	0.37%	11,300	$825K	No change
EYE National Vision Holdings Inc.	0.37%	31,300	$811K	New
ICLR Icon PLC	0.35%	7,000	$775K	New
EXFY Expensify Inc. Class A	0.35%	890,000	$774K	Reduce -1.1%
HUBS HubSpot Inc.	0.33%	3,000	$732K	New
FIGS Figs Inc. Class A	0.33%	49,000	$724K	Reduce -48.1%
EXPE Expedia Group Inc.	0.32%	3,060	$707K	Add +10.9%
HYMC Hycroft Mining Holding Co. Class A	0.32%	20,000	$704K	New
CLBT Cellebrite Di Ltd.	0.31%	50,000	$689K	New
RXO Rxo Inc.	0.30%	45,000	$658K	No change
TRI Thomson Reuters Corp.	0.30%	7,300	$657K	New
PLSE Pulse Biosciences Inc.	0.29%	30,000	$648K	New
ZIP Ziprecruiter Inc. Class A	0.29%	350,000	$644K	Add +16.7%
TGT Target Corp.	0.29%	5,300	$642K	New
OKTA Okta Inc.	0.28%	8,000	$630K	Reduce -27.3%
PD Pagerduty Inc.	0.28%	100,000	$621K	No change
EVER Everquote Inc. Class A	0.28%	40,000	$617K	New
GLOB Globant SA	0.27%	12,900	$595K	New
CBLL Ceribell Inc.	0.26%	31,000	$568K	New
ESOA Energy Services of America	0.25%	42,689	$561K	New
TBCH Turtle Beach Corp.	0.25%	55,075	$558K	Reduce -69.4%
KRUS Kura Sushi USA Inc. Class A	0.24%	7,780	$543K	Reduce -50.1%
EVH Evolent Health Inc. Class A	0.22%	215,000	$490K	New
TIC Tic Solutions Inc.	0.20%	67,985	$447K	No change
HLLY Holley Inc.	0.19%	138,520	$425K	No change
VITL Vital Farms Inc.	0.18%	28,000	$395K	Reduce -6.7%
XPEL Xpel Inc.	0.18%	8,800	$389K	Reduce -64.2%
MTN Vail Resorts Inc.	0.17%	3,000	$385K	New
OKLO Oklo Inc.	0.17%	7,600	$377K	New
SONO Sonos Inc.	0.16%	27,000	$362K	New
IMXI International Money Express	0.16%	22,058	$349K	No change
VUZI Vuzix Corp.	0.16%	150,000	$347K	Reduce -54.5%
GLXY Galaxy Digital Inc. Class A	0.16%	18,772	$346K	Reduce -80.2%
SVV Savers Value Village Inc.	0.15%	45,257	$337K	No change
BLDR Builders Firstsource Inc.	0.15%	4,000	$329K	No change
BANC Banc of California Inc.	0.13%	17,000	$299K	New
PSTL Postal Realty Trust Inc. Class A	0.13%	16,000	$297K	New
META Meta Platforms Inc. Class A	0.13%	500	$286K	No change
USAR USA Rare Earth Inc.	0.10%	15,000	$227K	Reduce -25.0%
IE Ivanhoe Electric Inc. / US	0.10%	18,598	$220K	Reduce -50.0%
TLSI Trisalus Life Sciences Inc.	0.09%	50,000	$200K	New
MDA Mda Space Ltd.	0.06%	5,000	$127K	New

Portfolio Sells Q4 2025 → Q1 2026


LIND Lindblad Expeditions Holding	Reduce -86.2%	0.43%	−1.81
CPRI Capri Holdings Ltd.	Sold out	0.00%	−1.54
TEAM Atlassian Corp. Class A	Reduce -41.9%	0.55%	−1.38
MNDY Monday.com Ltd.	Sold out	0.00%	−1.14
NTRA Natera Inc.	Sold out	0.00%	−0.97
PACK Ranpak Holdings Corp.	Reduce -29.8%	1.12%	−0.94
CWAN Clearwater Analytics HDS-A	Sold out	0.00%	−0.82
TTD Trade Desk Inc./the Class A	Sold out	0.00%	−0.73
TBCH Turtle Beach Corp.	Reduce -69.4%	0.25%	−0.72
BILL Bill Holdings Inc.	Reduce -21.1%	1.30%	−0.70
SHOO Steven Madden Ltd.	Sold out	0.00%	−0.68
GLXY Galaxy Digital Inc. Class A	Reduce -80.2%	0.16%	−0.66
OWLT Owlet Inc.	Sold out	0.00%	−0.66
ASAN Asana Inc. Class A	Sold out	0.00%	−0.63
GENI Genius Sports Ltd.	Reduce -0.1%	0.55%	−0.62
ARCB Arcbest Corp.	Reduce -63.0%	0.84%	−0.62
NOW ServiceNow Inc.	Sold out	0.00%	−0.59
WGS Genedx Holdings Corp.	Sold out	0.00%	−0.59
AR Antero Resources Corp.	Sold out	0.00%	−0.54
GPN Global Payments Inc.	Reduce -58.5%	0.39%	−0.53
LAUR Laureate Education Inc.	Reduce -48.5%	0.84%	−0.50
GDYN Grid Dynamics Holdings Inc.	Reduce -23.0%	0.65%	−0.49
PEN Penumbra Inc.	Sold out	0.00%	−0.49
AEYE Audioeye Inc.	Reduce -25.9%	0.57%	−0.46
VFC VF Corp.	Sold out	0.00%	−0.46
BBW Build-A-Bear Workshop Inc.	Reduce -20.0%	0.59%	−0.44
JHX James Hardie Ind PLC	Reduce -22.8%	2.02%	−0.43
AGX Argan Inc.	Sold out	0.00%	−0.43
ORLA Orla Mining Ltd.	Reduce -59.3%	0.54%	−0.41
CVLT Commvault Systems Inc.	Sold out	0.00%	−0.39
FSLR First Solar Inc.	Reduce -33.8%	0.54%	−0.38
VCTR Victory Capital Holding - A	Reduce -57.1%	0.40%	−0.36
FIG Figma Inc. Class A	Sold out	0.00%	−0.33
VUZI Vuzix Corp.	Reduce -54.5%	0.16%	−0.32
MU Micron Technology Inc.	Reduce -34.4%	3.20%	−0.32
XPEL Xpel Inc.	Reduce -64.2%	0.18%	−0.30
ANF Abercrombie & Fitch Co. Class A	Sold out	0.00%	−0.25
RXST Rxsight Inc.	Sold out	0.00%	−0.24
RH RH	Reduce -13.3%	0.82%	−0.22
UWMC Uwm Holdings Corp.	Sold out	0.00%	−0.21
HLIO Helios Technologies Inc.	Sold out	0.00%	−0.21
VITL Vital Farms Inc.	Reduce -6.7%	0.18%	−0.19
PCOR Procore Technologies Inc.	Sold out	0.00%	−0.19
PODD Insulet Corp.	Reduce -0.1%	1.14%	−0.18
EHC Encompass Health Corp.	Reduce -32.6%	0.45%	−0.18
EXFY Expensify Inc. Class A	Reduce -1.1%	0.35%	−0.17
BIRK Birkenstock Holding PLC	Sold out	0.00%	−0.16
IE Ivanhoe Electric Inc. / US	Reduce -50.0%	0.10%	−0.13
CDNA Caredx Inc.	Reduce -22.0%	0.61%	−0.12
SOC Sable Offshore Corp.	Sold out	0.00%	−0.09

Portfolio Buys Q4 2025 → Q1 2026


MOD Modine Manufacturing Co.	New	1.44%	+1.44
KVYO Klaviyo Inc. Class A	New	1.32%	+1.32
EQPT Equipmentshare.com Inc. Class A	New	1.26%	+1.26
FOXF Fox Factory Holding Corp.	Add +100.6%	2.07%	+1.16
FPS Forgent Power Solutions Class A	New	1.09%	+1.09
NOK Nokia Corp.-Spon ADR	Add +72.7%	1.72%	+1.04
MDB Mongodb Inc.	New	0.99%	+0.99
LULU Lululemon Athletica Inc.	Add +233.3%	1.38%	+0.90
INSM Insmed Inc.	New	0.66%	+0.66
CALX Calix Inc.	Add +280.0%	0.84%	+0.64
SSYS Stratasys Ltd.	Add +21.2%	2.82%	+0.61
WDAY Workday Inc. Class A	New	0.59%	+0.59
LNTH Lantheus Holdings Inc.	New	0.55%	+0.55
MEC Mayville Engineering Co. Inc.	Add +150.0%	0.81%	+0.52
CSTL Castle Biosciences Inc.	New	0.51%	+0.51
NAVN Navan Inc. Class A	Add +180.0%	0.84%	+0.51
ROAD Construction Partners Inc. Class A	New	0.50%	+0.50
BRBR Bellring Brands Inc.	New	0.47%	+0.47
AIR Aar Corp.	Add +16.5%	1.04%	+0.46
ONON On Holding AG Class A	New	0.46%	+0.46
APO Apollo Global Management Inc.	New	0.43%	+0.43
MANE Veradermics Inc.	New	0.40%	+0.40
AGYS Agilysys Inc.	New	0.39%	+0.39
EYE National Vision Holdings Inc.	New	0.37%	+0.37
ARLO Arlo Technologies Inc.	Add +40.0%	0.90%	+0.36
ICLR Icon PLC	New	0.35%	+0.35
HUBS HubSpot Inc.	New	0.33%	+0.33
HYMC Hycroft Mining Holding Co. Class A	New	0.32%	+0.32
PSN Parsons Corp.	Add +83.3%	0.67%	+0.32
CLBT Cellebrite Di Ltd.	New	0.31%	+0.31
ABNB Airbnb Inc. Class A	Add +100.0%	0.57%	+0.31
TRI Thomson Reuters Corp.	New	0.30%	+0.30
PLSE Pulse Biosciences Inc.	New	0.29%	+0.29
TGT Target Corp.	New	0.29%	+0.29
EVER Everquote Inc. Class A	New	0.28%	+0.28
GLOB Globant SA	New	0.27%	+0.27
CBLL Ceribell Inc.	New	0.26%	+0.26
ESOA Energy Services of America	New	0.25%	+0.25
EVH Evolent Health Inc. Class A	New	0.22%	+0.22
MTN Vail Resorts Inc.	New	0.17%	+0.17
OKLO Oklo Inc.	New	0.17%	+0.17
SONO Sonos Inc.	New	0.16%	+0.16
BANC Banc of California Inc.	New	0.13%	+0.13
PSTL Postal Realty Trust Inc. Class A	New	0.13%	+0.13
COMP Compass Inc. Class A	Add +32.8%	1.87%	+0.13
NSP Insperity Inc.	Add +42.8%	0.81%	+0.12
SWIM Latham Group Inc.	Add +4.2%	3.04%	+0.09
TLSI Trisalus Life Sciences Inc.	New	0.09%	+0.09
PROF Profound Medical Corp.	Add +18.8%	0.71%	+0.09
MDA Mda Space Ltd.	New	0.06%	+0.06

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