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FG

Formula Growth Portfolio holdings

AUM $222M
1-Year Est. Return 27.84%
This Fund
S&P 500
This Quarter Est. Return
+15.49%
1 Year Est. Return
+27.84%
3 Year Est. Return
+65.65%
5 Year Est. Return
+39.07%
10 Year Est. Return
+165.6%
AUM
$265M
AUM Growth
+$18.1M
Cap. Flow
-$11.1M
Cap. Flow %
-4.2%
Top 10 Hldgs %
22.42%
Holding
141
New
23
Increased
19
Reduced
54
Closed
22

Top Buys

Rank Stock Value
1
JHX icon
James Hardie Industries
JHX
+$5.32M
2
LNTH icon
Lantheus
LNTH
+$2.29M
3
TATT icon
TAT Technologies
TATT
+$2.01M
4
UNH icon
UnitedHealth
UNH
+$1.84M
5
PRO
PROS Holdings
PRO
+$1.7M

Top Sells

Rank Stock Value
1
W icon
Wayfair
W
+$5.04M
2
PAGS icon
PagSeguro Digital
PAGS
+$2.96M
3
PLMR icon
Palomar
PLMR
+$2.84M
4
CALX icon
Calix
CALX
+$2.57M
5
ORN icon
Orion Group Holdings
ORN
+$2.37M

Sector Composition

Rank Sector Weight
1 Technology 27.15%
2 Industrials 19.46%
3 Healthcare 18.14%
4 Consumer Discretionary 16.63%
5 Financials 4.74%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ORN icon
26
Orion Group Holdings
ORN
$387M
$3.07M 1.16%
338,883
-315,947
-48% -$2.37M
AEYE icon
27
AudioEye
AEYE
$72.8M
$3.03M 1.14%
260,000
+60,000
+30% +$715K
RDNT icon
28
RadNet
RDNT
$4.93B
$3.03M 1.14%
53,189
-2,858
-5% -$157K
CPRI icon
29
Capri Holdings
CPRI
$1.82B
$3M 1.13%
169,676
+29,292
+21% +$482K
EXFY icon
30
Expensify
EXFY
$178M
$2.98M 1.13%
1,150,000
+150,000
+15% +$383K
XPO icon
31
XPO
XPO
$23.4B
$2.9M 1.1%
23,000
-3,000
-12% -$337K
CECO icon
32
Ceco Environmental
CECO
$3.83B
$2.89M 1.09%
102,191
-34,333
-25% -$855K
SSNC icon
33
SS&C Technologies
SSNC
$18.6B
$2.88M 1.09%
34,725
-2,950
-8% -$232K
SAH icon
34
Sonic Automotive
SAH
$3.17B
$2.86M 1.08%
35,800
-5,000
-12% -$337K
PAGS icon
35
PagSeguro Digital
PAGS
$2.75B
$2.83M 1.07%
293,820
-328,167
-53% -$2.96M
UBER icon
36
Uber
UBER
$143B
$2.75M 1.04%
29,500
-3,000
-9% -$247K
CSGP icon
37
CoStar Group
CSGP
$12B
$2.73M 1.03%
34,000
– –
ASAN icon
38
Asana
ASAN
$1.83B
$2.7M 1.02%
200,000
– –
MMSI icon
39
Merit Medical Systems
MMSI
$4.97B
$2.62M 0.99%
27,981
-480
-2% -$45.5K
ALHC icon
40
Alignment Healthcare
ALHC
$3.85B
$2.54M 0.96%
181,208
+51,208
+39% +$825K
UTI icon
41
Universal Technical Institute
UTI
$2.21B
$2.42M 0.91%
71,302
-50,322
-41% -$1.58M
NTRA icon
42
Natera
NTRA
$38.6B
$2.41M 0.91%
14,290
-2,442
-15% -$381K
UTHR icon
43
United Therapeutics
UTHR
$26.2B
$2.37M 0.89%
8,237
-146
-2% -$43.6K
AX icon
44
Axos Financial
AX
$5.6B
$2.33M 0.88%
30,624
-3,000
-9% -$203K
FN icon
45
Fabrinet
FN
$15.7B
$2.33M 0.88%
7,900
– –
KRUS icon
46
Kura Sushi USA
KRUS
$568M
$2.3M 0.87%
26,717
-346
-1% -$22.7K
HCA icon
47
HCA Healthcare
HCA
$85.7B
$2.3M 0.87%
6,000
-1,000
-14% -$360K
TNDM icon
48
Tandem Diabetes Care
TNDM
$1.3B
$2.28M 0.86%
122,096
-1,849
-1% -$36.6K
IE icon
49
Ivanhoe Electric
IE
$1.48B
$2.25M 0.85%
247,934
+161,774
+188% +$1.12M
PANW icon
50
Palo Alto Networks
PANW
$265B
$2.24M 0.85%
10,946
-1,200
-10% -$223K
1
2
3 4 5

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Formula Growth's Q2 2025 Portfolio in Review

As of Q2 2025, Formula Growth held 141 positions worth $265M, up 7.4% from $247M the previous quarter. Its ten largest holdings account for 22% of the portfolio.

Formula Growth withdrew a net $11.1M in Q2 2025, closing 22 positions and reducing 54 holdings. Its most notable exit was Eli Lilly, an estimated $2.2M position sold in full.

By sector, the portfolio is most concentrated in Technology at 27% of assets, up from 27% a quarter earlier, followed by Industrials and Healthcare.

Against the trend, Formula Growth opened a new position in James Hardie Industries worth $5.92M.

  • Formula Growth's largest Q2 2025 buy was James Hardie Industries: 220,140 shares worth $5.92M.
  • Formula Growth added most to Tutor Perini Cor in Q2 2025, an estimated $1.54M increase.
  • Formula Growth's biggest Q2 2025 reduction was Wayfair, cutting an estimated $5.04M.
  • Formula Growth fully exited Eli Lilly in Q2 2025, selling an estimated $2.2M.
  • Formula Growth's ten largest holdings make up 22% of its $265M portfolio in Q2 2025.
  • Formula Growth opened 23 new positions and closed 22 in Q2 2025.
  • Formula Growth's portfolio value rose 7.4% quarter-over-quarter to $265M.

Based on Formula Growth's 13F filing for Q2 2025, filed 13 Aug 2025.