FORMULA GROWTH LTD

CIK

1093219

Location

MONTREAL, A8

Portfolio Value

Small $217,592,693

Diversification

Diversified

Filing Date

Global Rank

#4,024 / 8,605 ▼ 195 · as of Mar 2026

Top Industry

Software - Application 11.7%

3Y Alpha vs SPY

-9.1%

Period ended 3 months ago

Filed May 14, 2026 · 56d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+43.5%

SPY

+76.5%

Annualised alpha

-8.1%

Max drawdown

−31.7%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

135 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

3.3%

−0.3 pts

Top 5

13.4%

−0.2 pts

Top 10

22.8%

−1.1 pts

HHI

122

Diversified−6

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	29.9%	$65,130,351	36
Industrials	27.3%	$59,405,076	32
Healthcare	15.8%	$34,336,684	23
Consumer Cyclical	12.7%	$27,719,141	19
Financial Services	3.8%	$8,355,193	7
Consumer Defensive	3.1%	$6,852,542	5
Basic Materials	3.1%	$6,830,222	5
Real Estate	2.7%	$5,815,483	3
Communication Services	1.3%	$2,771,117	4
Utilities	0.2%	$376,884	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

19 positions

Ticker	Company	Δ Shares	Shares	Value
NOK	Nokia Corp	+200,000	475,000	$3,819,000
SSYS	Stratasys Ltd.	+140,000	800,000	$6,248,000
FOXF	Fox Factory Holding Corp	+140,000	279,206	$4,595,730
COMP	Compass, Inc.	+140,000	567,300	$4,146,963
NAVN	Navan, Inc.	+90,000	140,000	$1,853,600
MEC	Mayville Engineering Company, Inc.	+60,000	100,000	$1,795,000
SWIM	Latham Group, Inc.	+50,000	1,255,082	$6,739,790
LAW	CS Disco, Inc.	+50,000	800,000	$3,056,000
U	Unity Software Inc.	+50,000	130,000	$2,852,200
ZIP	Ziprecruiter, Inc.	+50,000	350,000	$644,000
ARLO	Arlo Technologies, Inc.	+40,000	140,000	$1,992,200
PROF	Profound Medical Corp.	+38,220	241,138	$1,562,574
CALX	Calix, Inc	+28,000	38,000	$1,861,620
NSP	Insperity, Inc.	+20,000	66,700	$1,803,568
LULU	lululemon athletica inc.	+14,000	20,000	$3,062,000
PSN	Parsons Corp	+12,500	27,500	$1,489,675
ABNB	Airbnb, Inc.	+5,000	10,000	$1,262,800
AIR	Aar Corp	+2,974	20,974	$2,295,814
EXPE	Expedia Group, Inc.	+300	3,060	$706,523
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
LIND	Lindblad Expeditions Holdings, Inc.	−348,000	55,591	$961,724
PACK	Ranpak Holdings Corp.	−295,000	694,527	$2,479,461
VUZI	Vuzix Corp	−180,000	150,000	$346,500
TBCH	Turtle Beach Corp	−125,000	55,075	$558,460
ORLA	Orla Mining Ltd.	−108,000	74,000	$1,193,620
GLXY	Galaxy Digital Inc.	−76,000	18,772	$346,343
GDYN	Grid Dynamics Holdings, Inc.	−75,389	252,941	$1,441,763
JHX	James Hardie Industries plc	−70,000	236,840	$4,485,749
AEYE	Audioeye Inc	−70,000	200,000	$1,274,000
LAUR	Laureate Education, Inc.	−50,121	53,177	$1,852,686
FIGS	FIGS, Inc.	−45,500	49,000	$723,730
ARCB	Arcbest Corp /De/	−32,000	18,838	$1,852,905
CDNA	CareDx, Inc.	−22,190	78,478	$1,362,378
BTSG	BrightSpring Health Services, Inc.	−20,187	69,678	$2,968,979
BILL	BILL Holdings, Inc.	−20,000	75,000	$2,872,500
IE	Ivanhoe Electric Inc.	−18,600	18,598	$219,828
GPN	Global Payments Inc	−18,000	12,759	$858,680
VCTR	Victory Capital Holdings, Inc.	−17,841	13,426	$879,134
XPEL	XPEL, Inc.	−15,800	8,800	$389,488
TEAM	Atlassian Corp	−13,000	18,000	$1,228,500
MU	Micron Technology Inc	−11,000	21,000	$7,094,640
EXFY	Expensify, Inc.	−10,000	890,000	$774,300
BBW	Build-A-Bear Workshop Inc	−8,800	35,142	$1,316,067
CECO	Ceco Environmental Corp	−8,376	62,344	$3,714,455
KRUS	Kura Sushi USA, Inc.	−7,800	7,780	$542,966
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
MOD	Modine Manufacturing Co	14,700	$3,185,637
KVYO	Klaviyo, Inc.	150,000	$2,919,000
EQPT	EquipmentShare.com Inc	136,950	$2,789,671
FPS	Forgent Power Solutions, Inc.	82,852	$2,425,078
MDB	MongoDB, Inc.	9,000	$2,202,930
INSM	INSMED Inc	9,000	$1,471,680
WDAY	Workday, Inc.	10,000	$1,299,200
LNTH	Lantheus Holdings, Inc.	16,000	$1,213,600
CSTL	Castle Biosciences Inc	46,000	$1,129,300
ROAD	Construction Partners, Inc.	10,000	$1,111,200
BRBR	Bellring Brands, Inc.	65,000	$1,045,850
ONON	On Holding AG	30,000	$1,020,600
APO	Apollo Global Management, Inc.	8,500	$947,070
MANE	Veradermics, Inc	14,000	$884,100
AGYS	Agilysys Inc	12,000	$853,680
EYE	National Vision Holdings, Inc.	31,300	$810,670
ICLR	Icon PLC	7,000	$774,620
HUBS	Hubspot Inc	3,000	$732,300
HYMC	Hycroft Mining Holding Corp	20,000	$704,000
CLBT	Cellebrite DI Ltd.	50,000	$689,000
TRI	Thomson Reuters Corp /Can/	7,300	$656,854
PLSE	Pulse Biosciences, Inc.	30,000	$647,700
TGT	Target Corp	5,300	$642,360
EVER	EverQuote, Inc.	40,000	$616,800
GLOB	Globant S.A.	12,900	$594,819
No positions match the current search.

Sold Out

Positions the filer fully exited

23 positions

Ticker	Company	Shares	Value
CPRI	Capri Holdings Ltd	163,376	$3,986,374
MNDY	monday.com Ltd.	20,000	$2,951,200
NTRA	Natera, Inc.	11,018	$2,524,113
CWAN	Clearwater Analytics Holdings, Inc.	87,883	$2,119,737
TTD	Trade Desk, Inc.	50,000	$1,898,000
SHOO	Steven Madden, Ltd.	42,224	$1,758,207
OWLT	Owlet, Inc.	105,000	$1,699,950
ASAN	Asana, Inc.	120,000	$1,645,200
NOW	ServiceNow, Inc.	10,000	$1,531,900
WGS	GeneDx Holdings Corp.	11,684	$1,519,621
AR	ANTERO RESOURCES Corp	41,000	$1,412,860
PEN	Penumbra Inc	4,100	$1,274,731
VFC	V F Corp	65,721	$1,188,235
AGX	Argan Inc	3,540	$1,109,152
CVLT	Commvault Systems Inc	8,000	$1,002,880
FIG	Figma, Inc.	23,000	$859,510
ANF	Abercrombie & Fitch Co /De/	5,200	$654,524
RXST	RxSight, Inc.	60,000	$625,200
UWMC	UWM Holdings Corp	125,000	$547,500
HLIO	Helios Technologies, Inc.	10,010	$535,434
PCOR	Procore Technologies, Inc.	6,700	$487,358
BIRK	Birkenstock Holding plc	10,000	$409,000
SOC	Sable Offshore Corp.	26,968	$243,251
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

135 positions · $217,592,693 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 135 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
MU	Micron Technology Inc Technology	Reduced	21,000	-11,000	$7,094,640	−22.3%	3.26%
SWIM	Latham Group, Inc. Industrials	Added	1,255,082	+50,000	$6,739,790	−11.9%	3.10%
SSYS	Stratasys Ltd. Technology	Added	800,000	+140,000	$6,248,000	+9.1%	2.87%
FOXF	Fox Factory Holding Corp Consumer Cyclical	Added	279,206	+140,000	$4,595,730	+93.0%	2.11%
JHX	James Hardie Industries plc Basic Materials	Reduced	236,840	-70,000	$4,485,749	−29.5%	2.06%
XPO	XPO, Inc. Industrials	Held	23,000	0	$4,474,650	+43.1%	2.06%
ALHC	Alignment Healthcare, Inc. Healthcare	Reduced	239,208	-300	$4,214,844	−10.9%	1.94%
COMP	Compass, Inc. Real Estate	Added	567,300	+140,000	$4,146,963	−8.2%	1.91%
NOK	Nokia Corp Technology	Added	475,000	+200,000	$3,819,000	+114.6%	1.76%
CECO	Ceco Environmental Corp Industrials	Reduced	62,344	-8,376	$3,714,455	−12.2%	1.71%
RYAAY	Ryanair Holdings PLC Industrials	Held	62,388	0	$3,606,026	−19.9%	1.66%
FN	Fabrinet Technology	Held	6,400	0	$3,337,728	+14.5%	1.53%
ORN	Orion Group Holdings Inc Industrials	Reduced	297,696	-3,600	$3,244,886	+8.3%	1.49%
MOD	Modine Manufacturing Co Consumer Cyclical	NEW	14,700	NEW	$3,185,637	NEW	1.46%
UTHR	UNITED THERAPEUTICS Corp Healthcare	Reduced	5,356	-258	$3,176,000	+16.1%	1.46%
LULU	lululemon athletica inc. Consumer Cyclical	Added	20,000	+14,000	$3,062,000	+145.6%	1.41%
LAW	CS Disco, Inc. Technology	Added	800,000	+50,000	$3,056,000	−47.5%	1.40%
BTSG	BrightSpring Health Services, Inc. Healthcare	Reduced	69,678	-20,187	$2,968,979	−11.8%	1.36%
KVYO	Klaviyo, Inc. Technology	NEW	150,000	NEW	$2,919,000	NEW	1.34%
CVSA	Covista Inc. Consumer Defensive	Reduced	25,304	-35	$2,916,286	+11.2%	1.34%
HQY	Healthequity, Inc. Healthcare	Reduced	34,552	-4,848	$2,887,510	−20.0%	1.33%
BILL	BILL Holdings, Inc. Technology	Reduced	75,000	-20,000	$2,872,500	−44.6%	1.32%
U	Unity Software Inc. Technology	Added	130,000	+50,000	$2,852,200	−19.3%	1.31%
EQPT	EquipmentShare.com Inc Industrials	NEW	136,950	NEW	$2,789,671	NEW	1.28%
RBA	Rb Global Inc. Industrials	Reduced	27,708	-2,555	$2,655,811	−14.7%	1.22%
AX	Axos Financial, Inc. Financial Services	Held	30,624	0	$2,605,796	−1.2%	1.20%
PODD	Insulet Corp Healthcare	Reduced	12,029	-6	$2,524,165	−26.2%	1.16%
PACK	Ranpak Holdings Corp. Consumer Cyclical	Reduced	694,527	-295,000	$2,479,461	−53.7%	1.14%
SAH	Sonic Automotive Inc Consumer Cyclical	Held	35,800	0	$2,454,806	+10.8%	1.13%
FPS	Forgent Power Solutions, Inc. Industrials	NEW	82,852	NEW	$2,425,078	NEW	1.11%
HCA	HCA Healthcare, Inc. Healthcare	Held	5,000	0	$2,366,200	+1.4%	1.09%
SSNC	SS&C Technologies Holdings Inc Technology	Held	34,725	0	$2,346,368	−22.7%	1.08%
AIR	Aar Corp Industrials	Added	20,974	+2,974	$2,295,814	+54.1%	1.06%
NXT	Nextpower Inc. Technology	Reduced	18,603	-37	$2,242,591	+38.1%	1.03%
TPC	Tutor Perini Corp Industrials	Reduced	28,962	-38	$2,235,576	+15.0%	1.03%
MDB	MongoDB, Inc. Technology	NEW	9,000	NEW	$2,202,930	NEW	1.01%
ARLO	Arlo Technologies, Inc. Industrials	Added	140,000	+40,000	$1,992,200	+42.4%	0.92%
UBER	Uber Technologies, Inc Technology	Held	26,500	0	$1,906,145	−12.0%	0.88%
FCFS	FirstCash Holdings, Inc. Financial Services	Held	10,000	0	$1,880,000	+18.0%	0.86%
CALX	Calix, Inc Technology	Added	38,000	+28,000	$1,861,620	+251.7%	0.86%
NAVN	Navan, Inc. Technology	Added	140,000	+90,000	$1,853,600	+117.0%	0.85%
ARCB	Arcbest Corp /De/ Industrials	Reduced	18,838	-32,000	$1,852,905	−50.9%	0.85%
LAUR	Laureate Education, Inc. Consumer Defensive	Reduced	53,177	-50,121	$1,852,686	−46.7%	0.85%
RH	Rh Consumer Cyclical	Reduced	13,000	-2,000	$1,817,660	−32.4%	0.84%
NSP	Insperity, Inc. Industrials	Added	66,700	+20,000	$1,803,568	−0.3%	0.83%
MEC	Mayville Engineering Company, Inc. Industrials	Added	100,000	+60,000	$1,795,000	+139.7%	0.82%
GXO	GXO Logistics, Inc. Industrials	Held	34,000	0	$1,762,900	−1.5%	0.81%
CPA	Copa Holdings, S.A. Industrials	Held	15,500	0	$1,760,955	−5.8%	0.81%
PANW	Palo Alto Networks Inc Technology	Held	10,946	0	$1,754,862	−13.0%	0.81%
PROF	Profound Medical Corp. Healthcare	Added	241,138	+38,220	$1,562,574	−2.2%	0.72%