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TCM
Topline Capital Management Portfolio holdings
AUM
$605M
1-Year Est. Return
26.24%
This Fund
S&P 500
This Quarter
Est. Return
-12.96%
1 Year Est. Return
+26.24%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$437M
AUM Growth
-$92M
(-17%)
Cap. Flow
-$13.3M
Cap. Flow
% of AUM
-3.04%
Top 10 Holdings %
Top 10 Hldgs %
74.45%
Holding
39
New
3
Increased
11
Reduced
18
Closed
1
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
PRA Group
PRAA
|
+$17.8M |
| 2 |
Rush Street Interactive
RSI
|
+$7.3M |
| 3 |
Cytek Biosciences
CTKB
|
+$6.4M |
| 4 |
Unifirst Corp
UNF
|
+$5.35M |
| 5 |
Quanterix
QTRX
|
+$3.22M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cognyte Software
CGNT
|
+$17.5M |
| 2 |
SEMR
Semrush
SEMR
|
+$9.28M |
| 3 |
Green Dot
GDOT
|
+$6.3M |
| 4 |
BlackLine
BL
|
+$4.54M |
| 5 |
Vestis
VSTS
|
+$4.27M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 48.69% |
| 2 | Financials | 13.76% |
| 3 | Healthcare | 13.28% |
| 4 | Communication Services | 10.92% |
| 5 | Consumer Discretionary | 8.66% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Expensify
EXFY
$259M
| $2.86M | 0.66% |
941,609
+20,662
| +2% | +$71.8K |
|
|
GRSD
27
Grandstand Limited Ordinary Shares
GRSD
$67M
| $2.84M | 0.65% |
225,000
-250,851
| -53% | -$3.53M |
|
|
28
Quanterix
QTRX
$190M
| $2.51M | 0.58% |
+386,037
| New | +$3.22M |
|
29
Illumina
ILMN
$28.4B
| $2.16M | 0.49% |
+27,200
| New | +$2.94M |
|
|
30
Vestis
VSTS
$1.88B
| $1.29M | 0.29% |
130,000
-321,442
| -71% | -$4.27M |
|
31
NetSol Technologies
NTWK
$50.6M
| $1.18M | 0.27% |
487,750
-27,932
| -5% | -$70.8K |
|
|
CMBM
32
DELISTED
Cambium Networks
CMBM
| $996K | 0.23% |
1,411,420
-769
| -0.1% | -$753 |
|
|
SEMR
33
DELISTED
Semrush
SEMR
| $928K | 0.21% |
99,426
-680,658
| -87% | -$9.28M |
|
34
Nephros
NEPH
$45.7M
| $726K | 0.17% |
422,089
+2,202
| +0.5% | +$3.45K |
|
35
N-able
NABL
$940M
| $722K | 0.17% |
101,789
-1,623
| -2% | -$14.4K |
|
36
Cryo-Cell International
CCEL
$29M
| $304K | 0.07% |
47,791
| – | – |
|
37
InnovAge Holding
INNV
$1.52B
| $209K | 0.05% |
70,143
+11,403
| +19% | +$39.4K |
|
38
Gaia
GAIA
$48.4M
| $177K | 0.04% |
45,944
| – | – |
|
39
American Vanguard Corp
AVD
$68.9M
| – | – |
-811,755
| Closed | -$3.76M |
|
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Topline Capital Management's Q1 2025 Portfolio in Review
As of Q1 2025, Topline Capital Management held 39 positions worth $437M, down 17% from $529M the previous quarter. Its ten largest holdings account for 74% of the portfolio.
Topline Capital Management withdrew a net $13.3M in Q1 2025, closing 1 position and reducing 18 holdings. Its most notable exit was American Vanguard Corp, an estimated $3.76M position sold in full.
By sector, the portfolio is most concentrated in Technology at 49% of assets, down from 52% a quarter earlier, followed by Financials and Healthcare.
Against the trend, Topline Capital Management opened a new position in PRA Group worth $17.3M.
- Topline Capital Management's largest Q1 2025 buy was PRA Group: 838,922 shares worth $17.3M.
- Topline Capital Management added most to Rush Street Interactive in Q1 2025, an estimated $7.3M increase.
- Topline Capital Management's biggest Q1 2025 reduction was Cognyte Software, cutting an estimated $17.5M.
- Topline Capital Management fully exited American Vanguard Corp in Q1 2025, selling an estimated $3.76M.
- Topline Capital Management's ten largest holdings make up 74% of its $437M portfolio in Q1 2025.
- Topline Capital Management opened 3 new positions and closed 1 in Q1 2025.
- Topline Capital Management's portfolio value fell 17% quarter-over-quarter to $437M.
Based on Topline Capital Management's 13F filing for Q1 2025, filed 14 May 2025.