Institutional Manager · CIK 0001093219
FORMULA GROWTH LTD
MONTREAL, A8 · File #028-17511
Latest AUM
$259.5M
Positions
125
Top-10 Concentration
34.5%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| NEW | GRID DYNAMICS HLDGS INC | GDYN | +328,330 | +$3.0M | $0 |
| REDUCE | VICTORY CAP HLDGS INC | 92645B103 | -45,060 | -$2.8M | -$127,467 |
| EXITED | CARNIVAL CORP | 143658300 | -95,323 | -$2.8M | $0 |
| REDUCE | CLEARWATER ANALYTICS HLDGS I | CWAN | -112,117 | -$2.7M | +$1.2M |
| EXITED | PHREESIA INC | 71944F106 | -109,534 | -$2.6M | $0 |
| NEW | ORLA MNG LTD NEW | 68634K106 | +182,000 | +$2.5M | $0 |
| NEW | FIRST SOLAR INC | FSLR | +9,200 | +$2.4M | $0 |
| REDUCE | CECO ENVIRONMENTAL CORP | CECO | -34,971 | -$2.1M | +$914,227 |
| REDUCE | TWILIO INC | TWLO | -14,312 | -$2.0M | +$1.1M |
| REDUCE | UNDER ARMOUR INC | UA | -400,000 | -$1.9M | -$30,000 |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 2025125 pos · $259.5M
- 13F HOLDINGS REPORTQ/E Sep 2025122 pos · $281.1M
- 13F HOLDINGS REPORTQ/E Jun 2025119 pos · $264.7M
- 13F HOLDINGS REPORTQ/E Mar 2025118 pos · $246.6M
- 13F HOLDINGS REPORTQ/E Dec 2024115 pos · $295.4M
- 13F HOLDINGS REPORTQ/E Sep 2024109 pos · $291.2M
- 13F HOLDINGS REPORTQ/E Jun 2024109 pos · $275.2M
- 13F HOLDINGS REPORTQ/E Mar 2024112 pos · $313.0M
- 13F HOLDINGS REPORTQ/E Dec 2023136 pos · $293.0M
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | MICRON TECHNOLOGY INC | MU | 32,000 | $9.1M | 5.18% |
| 2 | LATHAM GROUP INC | SWIM | 1,205,082 | $7.7M | 4.34% |
| 3 | JAMES HARDIE INDS PLC | G4253H101 | 306,840 | $6.4M | 3.61% |
| 4 | CS DISCO INC | LAW | 750,000 | $5.8M | 3.30% |
| 5 | LINDBLAD EXPEDITIONS HLDGS I | LIND | 403,591 | $5.8M | 3.30% |
| 6 | STRATASYS LTD | SSYS | 660,000 | $5.7M | 3.25% |
| 7 | RANPAK HOLDINGS CORP | PACK | 989,527 | $5.4M | 3.04% |
| 8 | BILL HOLDINGS INC | BILL | 95,000 | $5.2M | 2.94% |
| 9 | ATLASSIAN CORPORATION | TEAM | 31,000 | $5.0M | 2.85% |
| 10 | ALIGNMENT HEALTHCARE INC | ALHC | 239,508 | $4.7M | 2.69% |
| 11 | COMPASS INC | COMP | 427,300 | $4.5M | 2.56% |
| 12 | RYANAIR HOLDINGS PLC | RYAOF | 62,388 | $4.5M | 2.56% |
| 13 | CECO ENVIRONMENTAL CORP | CECO | 70,720 | $4.2M | 2.40% |
| 14 | CAPRI HOLDINGS LIMITED | CPRI | 163,376 | $4.0M | 2.26% |
| 15 | ARCBEST CORP | ARCB | 50,838 | $3.8M | 2.14% |
| 16 | HEALTHEQUITY INC | HQY | 39,400 | $3.6M | 2.05% |
| 17 | UNITY SOFTWARE INC | U | 80,000 | $3.5M | 2.01% |
| 18 | LAUREATE EDUCATION INC | LAUR | 103,298 | $3.5M | 1.97% |
| 19 | INSULET CORP | PODD | 12,035 | $3.4M | 1.94% |
| 20 | BRIGHTSPRING HEALTH SVCS INC | 10950A106 | 89,865 | $3.4M | 1.91% |