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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
+43.43%
1 Year Est. Return
+26.24%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$583M
AUM Growth
+$147M
Cap. Flow
+$36.8M
Cap. Flow %
6.3%
Top 10 Hldgs %
72.01%
Holding
50
New
12
Increased
12
Reduced
16
Closed
8

Top Buys

Rank Stock Value
1
PRAA icon
PRA Group
PRAA
+$22.5M
2
NUTX
Nutex Health
NUTX
+$16.7M
3
CTKB icon
Cytek Biosciences
CTKB
+$12.5M
4
FRSH icon
Freshworks
FRSH
+$5.95M
5
MITK icon
Mitek Systems
MITK
+$4.75M

Top Sells

Rank Stock Value
1
PSFE icon
Paysafe
PSFE
+$19.1M
2
RSI icon
Rush Street Interactive
RSI
+$6.95M
3
CVEO icon
Civeo
CVEO
+$4.89M
4
CCRD
CoreCard
CCRD
+$4.5M
5
BL icon
BlackLine
BL
+$4.06M

Sector Composition

Rank Sector Weight
1 Technology 44.3%
2 Healthcare 19.23%
3 Financials 15.5%
4 Communication Services 9.89%
5 Industrials 5.55%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CGNT icon
1
Cognyte Software
CGNT
$659M
$64.9M 11.13%
7,027,290
-72,360
-1% -$712K
NRDS icon
2
NerdWallet
NRDS
$592M
$57.6M 9.87%
5,251,145
– –
GDOT icon
3
Green Dot
GDOT
$743M
$53.5M 9.17%
4,965,286
+331,817
+7% +$3M
BL icon
4
BlackLine
BL
$1.84B
$47.3M 8.11%
835,372
-78,628
-9% -$4.06M
PAYS icon
5
Paysign
PAYS
$501M
$39M 6.69%
5,421,737
+85,591
+2% +$307K
NUTX
6
Nutex Health
NUTX
$1.01B
$38.5M 6.6%
309,131
+129,418
+72% +$16.7M
PRAA icon
7
PRA Group
PRAA
$663M
$33.2M 5.69%
2,250,629
+1,411,707
+168% +$22.5M
SPNS
8
DELISTED
Sapiens International
SPNS
$30.3M 5.2%
1,037,075
+91,698
+10% +$2.56M
FRSH icon
9
Freshworks
FRSH
$3.14B
$28.8M 4.94%
1,933,213
+413,213
+27% +$5.95M
RSI icon
10
Rush Street Interactive
RSI
$2.77B
$26.9M 4.61%
1,807,124
-559,751
-24% -$6.95M
PHLT
11
DELISTED
Performant Healthcare Inc
PHLT
$21.8M 3.74%
5,462,442
-480,068
-8% -$1.36M
CTKB icon
12
Cytek Biosciences
CTKB
$545M
$17.8M 3.05%
5,231,260
+3,760,485
+256% +$12.5M
UNF icon
13
Unifirst Corp
UNF
$5.3B
$14M 2.41%
74,562
+25,601
+52% +$4.65M
LAW icon
14
CS Disco
LAW
$250M
$13M 2.22%
2,965,268
+1,181,046
+66% +$4.63M
KRMD icon
15
KORU Medical Systems
KRMD
$189M
$12.9M 2.21%
3,608,347
-212,883
-6% -$605K
CTEV
16
Claritev Corp
CTEV
$387M
$11M 1.89%
243,935
-34,322
-12% -$987K
ACCS
17
ACCESS Newswire
ACCS
$26.4M
$8.72M 1.5%
709,264
– –
OPXS icon
18
Optex Systems
OPXS
$78.6M
$7.94M 1.36%
691,256
-88,645
-11% -$690K
PSFE icon
19
Paysafe
PSFE
$414M
$7.82M 1.34%
620,000
-1,396,445
-69% -$19.1M
ELA icon
20
Envela
ELA
$563M
$5.28M 0.9%
862,433
+107,470
+14% +$666K
MITK icon
21
Mitek Systems
MITK
$754M
$5.23M 0.9%
+528,766
New +$4.75M
JYNT icon
22
The Joint Corp
JYNT
$118M
$5.18M 0.89%
449,204
+70,910
+19% +$759K
IDN icon
23
Intellicheck
IDN
$73.1M
$4.82M 0.83%
894,649
-119,858
-12% -$458K
WK icon
24
Workiva
WK
$3.36B
$3.97M 0.68%
+58,000
New +$3.99M
CCRD
25
DELISTED
CoreCard
CCRD
$3.73M 0.64%
128,894
-191,923
-60% -$4.5M
1
2

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JHCP
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PC
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AFG
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EFG
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PIFP
Partners in Financial Planning Salem, Virginia $603M AUM 12.72% 1-Year Est. Return
IECM
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MA
MYDA Advisors Woodmere, New York $608M AUM 77.08% 1-Year Est. Return
KJHP
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Topline Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Topline Capital Management held 50 positions worth $583M, up 34% from $437M the previous quarter. Its ten largest holdings account for 72% of the portfolio.

Topline Capital Management deployed $36.8M of net new capital in Q2 2025, opening 12 new positions and adding to 12 existing holdings. Its largest new stake was Mitek Systems: 528,766 shares worth $5.23M.

By sector, the portfolio is most concentrated in Technology at 44% of assets, down from 49% a quarter earlier, followed by Healthcare and Financials.

On the sell side, the largest reduction was Paysafe, an estimated $19.1M trimmed.

  • Topline Capital Management's largest Q2 2025 buy was Mitek Systems: 528,766 shares worth $5.23M.
  • Topline Capital Management added most to PRA Group in Q2 2025, an estimated $22.5M increase.
  • Topline Capital Management's biggest Q2 2025 reduction was Paysafe, cutting an estimated $19.1M.
  • Topline Capital Management fully exited Civeo in Q2 2025, selling an estimated $4.89M.
  • Topline Capital Management's ten largest holdings make up 72% of its $583M portfolio in Q2 2025.
  • Topline Capital Management opened 12 new positions and closed 8 in Q2 2025.
  • Topline Capital Management's portfolio value rose 34% quarter-over-quarter to $583M.

Based on Topline Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.