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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
+7.12%
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
$260M
AUM Growth
-$21.5M
Cap. Flow
-$28.1M
Cap. Flow %
-10.81%
Top 10 Hldgs %
23.43%
Holding
151
New
29
Increased
8
Reduced
52
Closed
26

Top Buys

1
GDYN icon
Grid Dynamics Holdings
GDYN
+$2.84M
2
FSLR icon
First Solar
FSLR
+$2.32M
3
ORLA
Orla Mining
ORLA
+$2.21M
4
NSP icon
Insperity
NSP
+$1.87M
5
FOXF icon
Fox Factory Holding Corp
FOXF
+$1.77M

Top Sells

1
VCTR icon
Victory Capital Holdings
VCTR
+$2.87M
2
CCL icon
Carnival Corporation Ltd
CCL
+$2.76M
3
PHR icon
Phreesia
PHR
+$2.58M
4
CWAN
Clearwater Analytics
CWAN
+$2.25M
5
CECO icon
Ceco Environmental
CECO
+$1.87M

Sector Composition

1 Technology 31.23%
2 Industrials 21.61%
3 Consumer Discretionary 15.46%
4 Healthcare 14.93%
5 Financials 3.97%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ALNT icon
126
Allient
ALNT
$1.5B
– –
-10,000
Closed -$448K
BELFB
127
Bel Fuse Inc Class B
BELFB
$3.92B
– –
-7,000
Closed -$987K
BRBR icon
128
BellRing Brands
BRBR
$1.44B
– –
-10,659
Closed -$387K
CCL icon
129
Carnival Corporation Ltd
CCL
$36.5B
– –
-95,323
Closed -$2.76M
CNTY icon
130
Century Casinos
CNTY
$34M
– –
-136,647
Closed -$357K
DENN
131
DELISTED
Denny's
DENN
– –
-258,885
Closed -$1.35M
DG icon
132
Dollar General
DG
$27.9B
– –
-10,100
Closed -$1.04M
FOR icon
133
Forestar Group
FOR
$1.56B
– –
-32,000
Closed -$851K
FOUR icon
134
Shift4
FOUR
$3.97B
– –
-15,326
Closed -$1.19M
INTC icon
135
Intel
INTC
$484B
– –
-25,000
Closed -$839K
KIDS icon
136
OrthoPediatrics
KIDS
$500M
– –
-81,000
Closed -$1.5M
KVYO icon
137
Klaviyo
KVYO
$5.35B
– –
-15,000
Closed -$415K
LEVI icon
138
Levi Strauss
LEVI
$9.42B
– –
-47,285
Closed -$1.1M
M icon
139
Macy's
M
$6.41B
– –
-64,000
Closed -$1.15M
PAGS icon
140
PagSeguro Digital
PAGS
$2.55B
– –
-128,820
Closed -$1.29M
PHR icon
141
Phreesia
PHR
$654M
– –
-109,534
Closed -$2.58M
RVLV icon
142
Revolve Group
RVLV
$1.78B
– –
-55,000
Closed -$1.17M
SKYT icon
143
SkyWater Technology
SKYT
$1.54B
– –
-90,000
Closed -$1.68M
SNBR
144
DELISTED
Sleep Number
SNBR
– –
-231,793
Closed -$1.63M
UDMY
145
DELISTED
Udemy
UDMY
– –
-152,000
Closed -$1.07M
W icon
146
Wayfair
W
$12B
– –
-7,783
Closed -$695K
WAL icon
147
Western Alliance Bancorporation
WAL
$9.02B
– –
-13,933
Closed -$1.21M
WIX icon
148
WIX.com
WIX
$2.18B
– –
-7,750
Closed -$1.38M
XPOF icon
149
Xponential Fitness
XPOF
$279M
– –
-124,193
Closed -$967K
ARDT
150
Ardent Health
ARDT
$1.45B
– –
-56,099
Closed -$743K
3 4 5
6
7

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Formula Growth's Q4 2025 Portfolio in Review

As of Q4 2025, Formula Growth held 151 positions worth $260M, down 7.7% from $281M the previous quarter. Its ten largest holdings account for 23% of the portfolio.

Formula Growth withdrew a net $28.1M in Q4 2025, closing 26 positions and reducing 52 holdings. Its most notable exit was Carnival Corporation Ltd, an estimated $2.76M position sold in full.

By sector, the portfolio is most concentrated in Technology at 31% of assets, up from 30% a quarter earlier, followed by Industrials and Consumer Discretionary.

Against the trend, Formula Growth opened a new position in Grid Dynamics Holdings worth $2.96M.

  • Formula Growth's largest Q4 2025 buy was Grid Dynamics Holdings: 328,330 shares worth $2.96M.
  • Formula Growth added most to Fox Factory Holding Corp in Q4 2025, an estimated $1.77M increase.
  • Formula Growth's biggest Q4 2025 reduction was Victory Capital Holdings, cutting an estimated $2.87M.
  • Formula Growth fully exited Carnival Corporation Ltd in Q4 2025, selling an estimated $2.76M.
  • Formula Growth's ten largest holdings make up 23% of its $260M portfolio in Q4 2025.
  • Formula Growth opened 29 new positions and closed 26 in Q4 2025.
  • Formula Growth's portfolio value fell 7.7% quarter-over-quarter to $260M.

Based on Formula Growth's 13F filing for Q4 2025, filed 13 Feb 2026.