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Topline Capital Management Portfolio holdings

AUM $605M
1-Year Est. Return 26.24%
This Fund
S&P 500
This Quarter Est. Return
-1.19%
1 Year Est. Return
+26.24%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$582M
AUM Growth
-$1.86M
Cap. Flow
+$8.64M
Cap. Flow %
1.48%
Top 10 Hldgs %
71.99%
Holding
53
New
11
Increased
18
Reduced
10
Closed
11

Top Buys

Rank Stock Value
1
NUTX
Nutex Health
NUTX
+$24.3M
2
SPT icon
Sprout Social
SPT
+$22.2M
3
FRSH icon
Freshworks
FRSH
+$11.2M
4
UNF icon
Unifirst Corp
UNF
+$8.3M
5
DCBO
Docebo
DCBO
+$8.1M

Top Sells

Rank Stock Value
1
SPNS
Sapiens International
SPNS
+$30.3M
2
RSI icon
Rush Street Interactive
RSI
+$26.9M
3
PHLT
Performant Healthcare Inc
PHLT
+$21.8M
4
BL icon
BlackLine
BL
+$14.3M
5
PSFE icon
Paysafe
PSFE
+$7.82M

Sector Composition

Rank Sector Weight
1 Technology 42.74%
2 Healthcare 21.49%
3 Financials 18.08%
4 Communication Services 9.8%
5 Industrials 6.61%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPNS
51
DELISTED
Sapiens International
SPNS
– –
-1,037,075
Closed -$30.3M
PHLT
52
DELISTED
Performant Healthcare Inc
PHLT
– –
-5,462,442
Closed -$21.8M
FLYY
53
DELISTED
Spirit Aviation Holdings, Inc.
FLYY
– –
-202,457
Closed -$1.01M
1 2
3

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Topline Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, Topline Capital Management held 53 positions worth $582M, down 0.32% from $583M the previous quarter. Its ten largest holdings account for 72% of the portfolio.

Topline Capital Management's Q3 2025 filing shows 11 new, 18 increased, 10 reduced and 11 closed positions. Its largest new stake was Sprout Social: 1,358,712 shares worth $17.6M. The largest sale was Sapiens International, an estimated $30.3M.

By sector, the portfolio is most concentrated in Technology at 43% of assets, down from 44% a quarter earlier, followed by Healthcare and Financials.

  • Topline Capital Management's largest Q3 2025 buy was Sprout Social: 1,358,712 shares worth $17.6M.
  • Topline Capital Management added most to Nutex Health in Q3 2025, an estimated $24.3M increase.
  • Topline Capital Management's biggest Q3 2025 reduction was BlackLine, cutting an estimated $14.3M.
  • Topline Capital Management fully exited Sapiens International in Q3 2025, selling an estimated $30.3M.
  • Topline Capital Management's ten largest holdings make up 72% of its $582M portfolio in Q3 2025.
  • Topline Capital Management opened 11 new positions and closed 11 in Q3 2025.
  • Topline Capital Management's portfolio value fell 0.32% quarter-over-quarter to $582M.

Based on Topline Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.