modelformset_factory ignores max_num and returns 15 forms

[Marc Reid]

modelformset_factory(MyModel, form=MyModelForm, max_num=4)
I have tried an array of options, but still it always returns 15 forms inside a template

return render(request, 'form.html', {"forms": forms})

template has simple
{% for form in forms %}

and will iterate through 15, always, regardless of the settings I put in above.