# FORMULA GROWTH LTD

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1093219. Source: https://holderbook.com/funds/1093219-formula-growth-ltd/

- Reported value: $284.3M
- Positions: 145
- Weight of the ten largest: 22.8%
- Filed: 2026-08-17

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $13.9M | 12,000 | 4.9% | 31 |
| LATHAM GROUP INC | [SWIM](https://holderbook.com/stocks/SWIM/) | $8.9M | 1,375,082 | 3.1% | 16 |
| STRATASYS LTD | [SSYS](https://holderbook.com/stocks/SSYS/) | $7.4M | 860,000 | 2.6% | 9 |
| COMPASS INC | [COMP](https://holderbook.com/stocks/COMP/) | $6.0M | 487,300 | 2.1% | 4 |
| ALIGNMENT HEALTHCARE INC | [ALHC](https://holderbook.com/stocks/ALHC/) | $5.3M | 221,347 | 1.9% | 6 |
| CECO ENVIRONMENTAL CORP | [CECO](https://holderbook.com/stocks/CECO/) | $5.0M | 55,159 | 1.8% | 13 |
| JAMES HARDIE INDS PLC | [JHX](https://holderbook.com/stocks/JHX/) | $5.0M | 189,765 | 1.7% | 4 |
| XPO INC | [XPO](https://holderbook.com/stocks/XPO/) | $4.7M | 23,000 | 1.7% | 31 |
| KLAVIYO INC | [KVYO](https://holderbook.com/stocks/KVYO/) | $4.5M | 300,000 | 1.6% | 2 |
| ORION GROUP HLDGS INC | [ORN](https://holderbook.com/stocks/ORN/) | $4.3M | 256,633 | 1.5% | 8 |
| CALIX INC | [CALX](https://holderbook.com/stocks/CALX/) | $4.3M | 115,000 | 1.5% | 10 |
| EQUIPMENTSHARE COM INC | [EQPT](https://holderbook.com/stocks/EQPT/) | $4.2M | 214,523 | 1.5% | 2 |
| FOX FACTORY HLDG CORP | [FOXF](https://holderbook.com/stocks/FOXF/) | $4.1M | 242,442 | 1.4% | 5 |
| RYANAIR HOLDINGS PLC | [RYAAY](https://holderbook.com/stocks/RYAAY/) | $4.0M | 62,388 | 1.4% | 31 |
| UNITY SOFTWARE INC | [U](https://holderbook.com/stocks/U/) | $4.0M | 140,000 | 1.4% | 16 |
| RANPAK HOLDINGS CORP | [PACK](https://holderbook.com/stocks/PACK/) | $3.8M | 522,055 | 1.3% | 9 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $3.7M | 10,946 | 1.3% | 31 |
| MODINE MFG CO | [MOD](https://holderbook.com/stocks/MOD/) | $3.6M | 13,540 | 1.3% | 2 |
| BRIGHTSPRING HEALTH SVCS INC | [BTSG](https://holderbook.com/stocks/BTSG/) | $3.5M | 50,344 | 1.2% | 4 |
| ICON PUB LTD CO | [ICLR](https://holderbook.com/stocks/ICLR/) | $3.2M | 18,692 | 1.1% | 2 |
| RB GLOBAL INC | [RBA](https://holderbook.com/stocks/RBA/) | $3.2M | 27,604 | 1.1% | 7 |
| LINDBLAD EXPEDITIONS HLDGS I | [LIND](https://holderbook.com/stocks/LIND/) | $3.1M | 111,491 | 1.1% | 12 |
| COVISTA INC | [CVSA](https://holderbook.com/stocks/CVSA/) | $3.1M | 25,196 | 1.1% | 7 |
| UNDER ARMOUR INC | [UA](https://holderbook.com/stocks/UA/) | $3.1M | 500,000 | 1.1% | 31 |
| HEALTHEQUITY INC | [HQY](https://holderbook.com/stocks/HQY/) | $3.1M | 34,417 | 1.1% | 6 |
| SONIC AUTOMOTIVE INC | [SAH](https://holderbook.com/stocks/SAH/) | $3.0M | 35,800 | 1.1% | 31 |
| CS DISCO INC | [LAW](https://holderbook.com/stocks/LAW/) | $3.0M | 800,000 | 1.1% | 14 |
| FABRINET | [FN](https://holderbook.com/stocks/FN/) | $3.0M | 5,370 | 1.1% | 31 |
| AAR CORP | [AIR](https://holderbook.com/stocks/AIR/) | $3.0M | 20,890 | 1.1% | 3 |
| AXOS FINANCIAL INC | [AX](https://holderbook.com/stocks/AX/) | $3.0M | 30,624 | 1.0% | 31 |
| GUARDANT HEALTH INC | [GH](https://holderbook.com/stocks/GH/) | $2.9M | 19,300 | 1.0% | 1 |
| UNITED THERAPEUTICS CORP DEL | [UTHR](https://holderbook.com/stocks/UTHR/) | $2.9M | 5,334 | 1.0% | 6 |
| LULULEMON ATHLETICA INC | [LULU](https://holderbook.com/stocks/LULU/) | $2.9M | 25,000 | 1.0% | 3 |
| MAYVILLE ENGR CO INC | [MEC](https://holderbook.com/stocks/MEC/) | $2.8M | 75,000 | 1.0% | 3 |
| LANTHEUS HLDGS INC | [LNTH](https://holderbook.com/stocks/LNTH/) | $2.8M | 25,131 | 1.0% | 2 |
| BILL HOLDINGS INC | [BILL](https://holderbook.com/stocks/BILL/) | $2.7M | 75,000 | 1.0% | 11 |
| NOKIA CORP | [NOK](https://holderbook.com/stocks/NOK/) | $2.7M | 200,000 | 0.9% | 3 |
| EVOLENT HEALTH INC | [EVH](https://holderbook.com/stocks/EVH/) | $2.6M | 485,000 | 0.9% | 2 |
| COPA HOLDINGS SA | [CPA](https://holderbook.com/stocks/CPA/) | $2.4M | 15,500 | 0.8% | 31 |
| INSPERITY INC | [NSP](https://holderbook.com/stocks/NSP/) | $2.3M | 56,700 | 0.8% | 3 |
| RH | [RH](https://holderbook.com/stocks/RH/) | $2.3M | 14,000 | 0.8% | 6 |
| AGILYSYS INC | [AGYS](https://holderbook.com/stocks/AGYS/) | $2.3M | 22,000 | 0.8% | 2 |
| CAREDX INC | [CDNA](https://holderbook.com/stocks/CDNA/) | $2.2M | 78,026 | 0.8% | 7 |
| FIRSTCASH HOLDINGS INC | [FCFS](https://holderbook.com/stocks/FCFS/) | $2.2M | 10,000 | 0.8% | 18 |
| SS&C TECH HLDGS | [SSNC](https://holderbook.com/stocks/SSNC/) | $2.2M | 34,725 | 0.8% | 31 |
| TUTOR PERINI CORP | [TPC](https://holderbook.com/stocks/TPC/) | $2.0M | 24,586 | 0.7% | 8 |
| HUNT J B TRANS SVCS INC | [JBHT](https://holderbook.com/stocks/JBHT/) | $2.0M | 7,000 | 0.7% | 31 |
| MONGODB INC | [MDB](https://holderbook.com/stocks/MDB/) | $2.0M | 6,000 | 0.7% | 2 |
| HCA HEALTHCARE INC | [HCA](https://holderbook.com/stocks/HCA/) | $1.9M | 5,000 | 0.7% | 31 |
| GLOBAL PMTS INC | [GPN](https://holderbook.com/stocks/GPN/) | $1.9M | 26,759 | 0.7% | 6 |
| LAUREATE ED INC | [LAUR](https://holderbook.com/stocks/LAUR/) | $1.9M | 52,977 | 0.7% | 4 |
| BUILD-A-BEAR WORKSHOP INC | [BBW](https://holderbook.com/stocks/BBW/) | $1.9M | 62,642 | 0.7% | 12 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $1.9M | 26,500 | 0.7% | 28 |
| ARLO TECHNOLOGIES INC | [ARLO](https://holderbook.com/stocks/ARLO/) | $1.9M | 140,000 | 0.7% | 3 |
| TWILIO INC | [TWLO](https://holderbook.com/stocks/TWLO/) | $1.9M | 9,000 | 0.7% | 31 |
| NEXTPOWER INC | [NXT](https://holderbook.com/stocks/NXT/) | $1.8M | 15,481 | 0.6% | 4 |
| INSULET CORP | [PODD](https://holderbook.com/stocks/PODD/) | $1.8M | 11,991 | 0.6% | 31 |
| GXO LOGISTICS INCORPORATED | [GXO](https://holderbook.com/stocks/GXO/) | $1.7M | 34,000 | 0.6% | 20 |
| AIRBNB INC | [ABNB](https://holderbook.com/stocks/ABNB/) | $1.7M | 12,000 | 0.6% | 4 |
| VERADERMICS INC | [MANE](https://holderbook.com/stocks/MANE/) | $1.7M | 13,923 | 0.6% | 2 |
| ULTRA CLEAN HLDGS INC | [UCTT](https://holderbook.com/stocks/UCTT/) | $1.7M | 11,900 | 0.6% | 1 |
| FORGENT POWER SOLUTIONS INC | [FPS](https://holderbook.com/stocks/FPS/) | $1.7M | 30,335 | 0.6% | 2 |
| GENIUS SPORTS LIMITED | [GENI](https://holderbook.com/stocks/GENI/) | $1.7M | 275,187 | 0.6% | 7 |
| CASELLA WASTE SYS INC | [CWST](https://holderbook.com/stocks/CWST/) | $1.7M | 17,053 | 0.6% | 11 |
| EVERUS CONSTR GROUP | [ECG](https://holderbook.com/stocks/ECG/) | $1.7M | 9,951 | 0.6% | 1 |
| TURTLE BEACH CORP | [TBCH](https://holderbook.com/stocks/TBCH/) | $1.6M | 131,426 | 0.6% | 6 |
| APOLLO GLOBAL MGMT INC | [APO](https://holderbook.com/stocks/APO/) | $1.6M | 13,800 | 0.6% | 2 |
| THE ONCOLOGY INSTITUTE INC | [TOI](https://holderbook.com/stocks/TOI/) | $1.6M | 300,000 | 0.6% | 1 |
| KIRBY CORP | [KEX](https://holderbook.com/stocks/KEX/) | $1.6M | 11,745 | 0.6% | 31 |
| PROFOUND MED CORP | [PROF](https://holderbook.com/stocks/PROF/) | $1.6M | 240,088 | 0.6% | 7 |
| VERACYTE INC | [VCYT](https://holderbook.com/stocks/VCYT/) | $1.6M | 27,000 | 0.6% | 31 |
| LIBERTY GLOBAL LTD | [LBTYK](https://holderbook.com/stocks/LBTYK/) | $1.6M | 142,702 | 0.6% | 11 |
| EXPENSIFY INC | [EXFY](https://holderbook.com/stocks/EXFY/) | $1.6M | 875,000 | 0.6% | 14 |
| LIFESTANCE HEALTH GROUP INC | [LFST](https://holderbook.com/stocks/LFST/) | $1.6M | 145,000 | 0.5% | 1 |
| TAT TECHNOLOGIES LTD | [TATT](https://holderbook.com/stocks/TATT/) | $1.5M | 30,801 | 0.5% | 5 |
| HOME BANCSHARES INC | [HOMB](https://holderbook.com/stocks/HOMB/) | $1.5M | 51,912 | 0.5% | 31 |
| LUMENTUM HLDGS INC | [LITE](https://holderbook.com/stocks/LITE/) | $1.5M | 1,700 | 0.5% | 1 |
| FIRST SOLAR INC | [FSLR](https://holderbook.com/stocks/FSLR/) | $1.4M | 6,072 | 0.5% | 3 |
| GRID DYNAMICS HLDGS INC | [GDYN](https://holderbook.com/stocks/GDYN/) | $1.4M | 251,896 | 0.5% | 3 |
| ATLASSIAN CORPORATION | [TEAM](https://holderbook.com/stocks/TEAM/) | $1.4M | 18,000 | 0.5% | 6 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $1.4M | 14,000 | 0.5% | 1 |
| IMPINJ INC | [PI](https://holderbook.com/stocks/PI/) | $1.4M | 9,500 | 0.5% | 1 |
| SILICON MOTION TECHNOLOGY CO | [SIMO](https://holderbook.com/stocks/SIMO/) | $1.3M | 3,800 | 0.4% | 1 |
| PLANET FITNESS MASTER ISSUER | [PLNT](https://holderbook.com/stocks/PLNT/) | $1.3M | 24,000 | 0.4% | 1 |
| AEVEX CORP | [AVEX](https://holderbook.com/stocks/AVEX/) | $1.2M | 59,000 | 0.4% | 1 |
| EXPEDIA GROUP INC | [EXPE](https://holderbook.com/stocks/EXPE/) | $1.2M | 4,760 | 0.4% | 4 |
| PAGERDUTY INC | [PD](https://holderbook.com/stocks/PD/) | $1.2M | 125,000 | 0.4% | 5 |
| TRULIEVE CANNABIS CORP | [TRLV](https://holderbook.com/stocks/TRLV/) | $1.2M | 120,000 | 0.4% | 1 |
| AUDIOEYE INC | [AEYE](https://holderbook.com/stocks/AEYE/) | $1.2M | 200,000 | 0.4% | 7 |
| TELESAT CORP | [TSAT](https://holderbook.com/stocks/TSAT/) | $1.2M | 22,873 | 0.4% | 1 |
| WEX INC | [WEX](https://holderbook.com/stocks/WEX/) | $1.2M | 8,200 | 0.4% | 31 |
| CIMPRESS PLC | [CMPR](https://holderbook.com/stocks/CMPR/) | $1.1M | 11,300 | 0.4% | 27 |
| VERICEL CORP | [VCEL](https://holderbook.com/stocks/VCEL/) | $1.1M | 25,824 | 0.4% | 10 |
| VICTORY CAP HLDGS INC DEL | [VCTR](https://holderbook.com/stocks/VCTR/) | $1.1M | 13,426 | 0.4% | 6 |
| TETRA TECH INC NEW | [TTEK](https://holderbook.com/stocks/TTEK/) | $1.1M | 39,050 | 0.4% | 31 |
| KOPIN CORP | [KOPN](https://holderbook.com/stocks/KOPN/) | $1.1M | 250,000 | 0.4% | 1 |
| LKQ CORP | [LKQ](https://holderbook.com/stocks/LKQ/) | $1.1M | 42,300 | 0.4% | 31 |
| POSTAL REALTY TRUST INC | [PSTL](https://holderbook.com/stocks/PSTL/) | $1.1M | 45,000 | 0.4% | 2 |
| SANDISK CORP | [SNDK](https://holderbook.com/stocks/SNDK/) | $1.1M | 480 | 0.4% | 1 |
| TANDEM DIABETES CARE INC | [TNDM](https://holderbook.com/stocks/TNDM/) | $1.1M | 70,304 | 0.4% | 26 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +26.9% | +14.8% | +12.1% | 100% |
| Q1 2026 | -11.5% | -4.6% | -6.8% | 100% |
| Q4 2025 | +2.5% | +2.4% | +0.2% | 100% |
| Q3 2025 | +5.9% | +7.8% | -2.0% | 99% |
| Q2 2025 | +13.9% | +10.5% | +3.4% | 100% |
| Q1 2025 | -12.5% | -4.6% | -8.0% | 100% |
| Q4 2024 | +3.4% | +2.1% | +1.3% | 100% |
| Q3 2024 | +7.2% | +5.4% | +1.8% | 99% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $284.3M | 145 |
| Q1 2026 | $221.6M | 137 |
| Q4 2025 | $259.5M | 125 |
| Q3 2025 | $281.1M | 122 |
| Q2 2025 | $264.7M | 119 |
| Q1 2025 | $246.6M | 118 |
| Q4 2024 | $295.4M | 115 |
| Q3 2024 | $291.2M | 109 |
| Q2 2024 | $275.2M | 109 |
| Q1 2024 | $313.0M | 112 |
| Q4 2023 | $312.1M | 128 |
| Q3 2023 | $293.0M | 136 |