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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
Cap. Flow
-$13.3M
Cap. Flow %
-3.04%
Top 10 Hldgs %
74.45%
Holding
39
New
3
Increased
11
Reduced
18
Closed
1

Top Buys

Rank Stock Value
1
PRAA icon
PRA Group
PRAA
+$17.8M
2
RSI icon
Rush Street Interactive
RSI
+$7.3M
3
CTKB icon
Cytek Biosciences
CTKB
+$6.4M
4
UNF icon
Unifirst Corp
UNF
+$5.35M
5
QTRX icon
Quanterix
QTRX
+$3.22M

Top Sells

Rank Stock Value
1
CGNT icon
Cognyte Software
CGNT
+$17.5M
2
SEMR
Semrush
SEMR
+$9.28M
3
GDOT icon
Green Dot
GDOT
+$6.3M
4
BL icon
BlackLine
BL
+$4.54M
5
VSTS icon
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
CGNT icon
1
Cognyte Software
CGNT
$659M
$55.4M 12.68%
7,099,650
-1,920,534
-21% -$17.5M
NRDS icon
2
NerdWallet
NRDS
$592M
$47.5M 10.88%
5,251,145
– –
BL icon
3
BlackLine
BL
$1.84B
$44.3M 10.13%
914,000
-82,904
-8% -$4.54M
GDOT icon
4
Green Dot
GDOT
$743M
$39.1M 8.95%
4,633,469
-743,318
-14% -$6.3M
PSFE icon
5
Paysafe
PSFE
$414M
$31.6M 7.24%
2,016,445
– –
SPNS
6
DELISTED
Sapiens International
SPNS
$25.6M 5.86%
945,377
+46,715
+5% +$1.26M
RSI icon
7
Rush Street Interactive
RSI
$2.77B
$25.4M 5.81%
2,366,875
+555,552
+31% +$7.3M
FRSH icon
8
Freshworks
FRSH
$3.14B
$21.4M 4.91%
1,520,000
-160,000
-10% -$2.68M
PHLT
9
DELISTED
Performant Healthcare Inc
PHLT
$17.6M 4.03%
5,942,510
-582,814
-9% -$1.51M
PRAA icon
10
PRA Group
PRAA
$663M
$17.3M 3.96%
+838,922
New +$17.8M
PAYS icon
11
Paysign
PAYS
$501M
$11.3M 2.59%
5,336,146
-274,982
-5% -$734K
KRMD icon
12
KORU Medical Systems
KRMD
$189M
$9.71M 2.22%
3,821,230
-505,934
-12% -$1.88M
UNF icon
13
Unifirst Corp
UNF
$5.3B
$8.52M 1.95%
48,961
+25,632
+110% +$5.35M
NUTX
14
Nutex Health
NUTX
$1.01B
$8.45M 1.93%
179,713
+173
+0.1% +$8.44K
LAW icon
15
CS Disco
LAW
$250M
$7.3M 1.67%
1,784,222
-125,607
-7% -$610K
ACCS
16
ACCESS Newswire
ACCS
$25.6M
$6.26M 1.43%
709,264
– –
CCRD
17
DELISTED
CoreCard
CCRD
$6M 1.37%
320,817
-1,520
-0.5% -$33K
CTKB icon
18
Cytek Biosciences
CTKB
$545M
$5.9M 1.35%
1,470,775
+1,234,179
+522% +$6.4M
CTEV
19
Claritev Corp
CTEV
$387M
$5.74M 1.31%
278,257
-43,441
-14% -$864K
CVEO icon
20
Civeo
CVEO
$345M
$4.89M 1.12%
212,823
+7,577
+4% +$177K
JYNT icon
21
The Joint Corp
JYNT
$118M
$4.72M 1.08%
378,294
+52,956
+16% +$599K
ELA icon
22
Envela
ELA
$563M
$4.7M 1.08%
754,963
+360
+0% +$2.34K
OPXS icon
23
Optex Systems
OPXS
$78.6M
$4.43M 1.01%
779,901
– –
HGBL icon
24
Heritage Global
HGBL
$40.3M
$3.69M 0.85%
1,694,744
-232,352
-12% -$495K
IDN icon
25
Intellicheck
IDN
$73.1M
$3.07M 0.7%
1,014,507
-145,371
-13% -$383K
1
2

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PC
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AFG
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EFG
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PIFP
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IECM
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MA
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KJHP
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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.