1y return+15.6%S&P 500 +20.9%
3y return+30.0%S&P 500 +68.5%
5y return−7.4%S&P 500 +74.5%
10y return+152.6%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $253 against $357 in the S&P 500.2
Formula Growth LtdS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| MUMicron Technology Inc | $13.9M | 4.9% | −42.9% |
| SWIMLatham Group Inc | $8.9M | 3.1% | +9.6% |
| Stratasys LtdCUSIP M85548101 | $7.4M | 2.6% | +7.5% |
| COMPCompass Inc | $6.0M | 2.1% | −14.1% |
| ALHCAlignment Healthcare Inc | $5.3M | 1.9% | −7.5% |
| CECOCeco Environmental Corp | $5.0M | 1.8% | −11.5% |
| James Hardie Inds PLCCUSIP G4253H101 | $5.0M | 1.7% | −19.9% |
| XPOXpo Inc | $4.7M | 1.7% | |
| KVYOKlaviyo Inc | $4.5M | 1.6% | +100.0% |
| ORNOrion Group Hldgs Inc | $4.3M | 1.5% | −13.8% |
| CALXCalix Inc | $4.3M | 1.5% | +202.6% |
| EQPTEquipmentshare Com Inc | $4.2M | 1.5% | +56.6% |
| FOXFFox Factory Hldg Corp | $4.1M | 1.4% | −13.2% |
| RYAAYRyanair Holdings PLC | $4.0M | 1.4% | |
| UUnity Software Inc | $4.0M | 1.4% | +7.7% |
| PACKRanpak Holdings Corp | $3.8M | 1.3% | −24.8% |
| PANWPalo Alto Networks Inc | $3.7M | 1.3% | |
| MODModine Mfg Co | $3.6M | 1.3% | −7.9% |
| BTSGBrightspring Health Svcs Inc | $3.5M | 1.2% | −27.7% |
| Icon PLCCUSIP G4705A100 | $3.2M | 1.1% | +167.0% |
| RBARb Global Inc | $3.2M | 1.1% | |
| LINDLindblad Expeditions Hldgs I | $3.1M | 1.1% | +100.6% |
| CVSACovista Inc | $3.1M | 1.1% | |
| UAUnder Armour Inc | $3.1M | 1.1% | +25.0% |
| HQYHealthequity Inc | $3.1M | 1.1% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| FabrinetCUSIP G3323L100 | June 30, 2020 | +800.5% | $3.0M |
| PANWPalo Alto Networks Inc | June 30, 2020 | +790.9% | $3.7M |
| CECOCeco Environmental Corp | June 30, 2023 | +579.2% | $5.0M |
| AXAxos Financial Inc | June 30, 2020 | +341.1% | $3.0M |
| LINDLindblad Expeditions Hldgs I | September 30, 2023 | +292.2% | $3.1M |
| Copa Holdings SaCUSIP P31076105 | June 30, 2020 | +207.7% | $2.4M |
| ORNOrion Group Hldgs Inc | September 30, 2024 | +191.5% | $4.3M |
| XPOXpo Inc | June 30, 2020 | +165.7% | $4.7M |
| SAHSonic Automotive Inc | June 30, 2020 | +165.7% | $3.0M |
| EVHEvolent Health Inc | March 31, 2026 | +137.7% | $2.6M |
Sold off last quarter
- NAVNNavan Inc was $1.9M
- ARCBArcbest Corp was $1.9M
- INSMInsmed Inc was $1.5M
- WDAYWorkday Inc was $1.3M
- Orla Mng Ltd NewCUSIP 68634K106 was $1.2M
- CSTLCastle Biosciences Inc was $1.1M
- ROADConstruction Partners Inc was $1.1M
- On Hldg AgCUSIP H5919C104 was $1.0M
- EYENational Vision Hldgs Inc was $811K
- HUBSHubspot Inc was $732K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +19.8% | +14.8% |
| March 31, 2026 | −11.1% | −4.6% |
| December 31, 2025 | +2.5% | +2.4% |
| September 30, 2025 | +5.8% | +7.8% |
| June 30, 2025 | +13.9% | +10.5% |
| March 31, 2025 | −12.4% | −4.6% |
| December 31, 2024 | +3.4% | +2.1% |
| September 30, 2024 | +6.5% | +5.4% |
| June 30, 2024 | −8.7% | +4.0% |
| March 31, 2024 | +5.4% | +10.0% |
| December 31, 2023 | +16.2% | +11.2% |
| September 30, 2023 | −8.5% | −3.6% |
| June 30, 2023 | +8.1% | +8.3% |
| March 31, 2023 | +10.8% | +7.0% |
| December 31, 2022 | +3.0% | +7.1% |
| September 30, 2022 | −4.6% | −5.3% |
| June 30, 2022 | −25.0% | −16.5% |
| March 31, 2022 | −10.3% | −4.9% |
| December 31, 2021 | −4.3% | +10.7% |
| September 30, 2021 | −6.0% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Formula Growth Ltd Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1093219&type=13F-HR&dateb=&owner=include&count=40CIK 1093219
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1093219/000101143826000552/Filed August 17, 2026 · accession 0001011438-26-000552