TC
Topline Capital Management, LLC 13F Portfolio Snapshot & Holdings (Q2 2026)
Topline Capital Management, LLCCIK: 0001792549
Sector-focusedMomentum followerQuality / disciplined sizing
Total reported value
$385.7M
Reporting period: 2026-06-30 · Number of holdings: 36
Topline Capital Management, LLC disclosed 36 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $385.7M and a quarterly turnover rate of 58.6%.
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Personality snowflake
- Concentration
- 35.32
- Portfolio Stability
- 58.64
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 72
- Sizing Uniformity
- 85.03
Topline Capital Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.088 — mathematically equivalent to about 11 equally-sized positions, well below its 36 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.50), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 12% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim FRSH
-99.8% -$47.4M
Add PRAA
0.0% $5.7M
Add PAYS
0.0% $10.6M
Sold out MNDY
Trim S
-92.8% -$20.8M
Trim MITK
-94.2% -$19.9M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | PRAA | Pra Group Inc | Stock-Other | 18.93% | +7.81% | — | |
| 2 | WK | Workiva Inc | Stock-Tech | 10.96% | +0.61% | -17.05% | |
| 3 | PAYS | Paysign Inc | Stock-Other | 9.85% | +5.33% | — | |
| 4 | DV | Doubleverify Holdings Inc | Stock-Other | 9.03% | +1.15% | -36.00% | |
| 5 | NRDS | Nerdwallet Inc-cl A | Stock-Other | 7.89% | -1.12% | -37.36% | |
| 6 | CTKB | Cytek Biosciences Inc | Stock-Other | 7.22% | +2.12% | -11.06% | |
| 7 | CGNT | Cognyte Software Ltd. | Stock-Other | 7.16% | +0.59% | -36.01% | |
| 8 | KRMD | Koru Medical Systems Inc | Stock-Other | 3.67% | +1.16% | -4.01% | |
| 9 | ELA | Envela CORP | Stock-Other | 3.09% | +0.94% | -47.03% | |
| 10 | DCBO | Docebo Inc | Stock-Other | 3.09% | +0.55% | -24.37% | |
| 11 | ZVIA | Zevia Pbc-a | Stock-Other | 3.03% | +1.73% | +6.35% | |
| 12 | NUTX | Nutex Health Inc | Stock-Other | 1.85% | -0.94% | -76.51% | |
| 13 | NABL | N-able Inc | Stock-Other | 1.81% | +0.30% | -2.56% | |
| 14 | OPXS | Optex Systems Holdings Inc | Stock-Other | 1.63% | +0.36% | -22.44% | |
| 15 | LAW | Cs Disco Inc | Stock-Other | 1.44% | -0.22% | -44.09% | |
| 16 | ACCS | Access Newswire Inc | Stock-Other | 1.20% | +0.16% | — | |
| 17 | NPK | National Presto Inds Inc | Stock-Other | 1.05% | +1.05% | NEW | |
| 18 | ATRC | Atricure Inc | Stock-Other | 1.00% | +1.00% | NEW | |
| 19 | SPT | Sprout Social Inc - Class A | Stock-Other | 0.98% | -1.59% | -81.59% | |
| 20 | CERS | Cerus CORP | Stock-Other | 0.80% | +0.80% | NEW | |
| 21 | MRDN | Meridian Holdings Inc | Stock-Other | 0.67% | +0.50% | +32.92% | |
| 22 | S | Sentinelone Inc -class A | Stock-Tech | 0.56% | -3.23% | -92.81% | |
| 23 | HGBL | Heritage Global Inc | Stock-Other | 0.56% | +0.16% | — | |
| 24 | NEPH | Nephros Inc | Stock-Other | 0.50% | +0.21% | -7.95% | |
| 25 | MITK | Mitek Systems Inc | Stock-Other | 0.49% | -3.11% | -94.17% | |
| 26 | TRC | Tejon Ranch Co | Stock-Other | 0.41% | +0.12% | -9.66% | |
| 27 | SLP | Simulations Plus Inc | Stock-Other | 0.40% | -0.03% | -61.30% | |
| 28 | SIF | Sifco Industries | Stock-Other | 0.22% | +0.22% | NEW | |
| 29 | SMID | Smith-midland CORP | Stock-Other | 0.15% | +0.15% | NEW | |
| 30 | PPIH | Perma-pipe International Hol | Stock-Other | 0.12% | +0.12% | NEW | |
| 31 | TAYD | Taylor Devices Inc | Stock-Other | 0.07% | +0.07% | NEW | |
| 32 | ISSC | Innovative Solutions & Supp | Stock-Other | 0.06% | +0.06% | NEW | |
| 33 | MLAB | Mesa Laboratories Inc | Stock-Other | 0.06% | +0.06% | NEW | |
| 34 | FRSH | Freshworks Inc-cl A | Stock-Other | 0.03% | -7.82% | -99.82% | |
| 35 | DIBS | 1stdibs.com Inc | Stock-Other | 0.01% | -0.06% | -86.07% | |
| 36 | RSSS | Research Solutions Inc | Stock-Other | 0.01% | -0.16% | -97.52% |
Portfolio Performance
Performance for Q3 2026
+22.8%
Performance Last 4 Quarters
+21.6%
- Stdev
- +26.9%
- Beta
- +0.96
- Alpha
- +11.7%
- Max Drawdown
- -21.8%
- Annualized Perf
- +30%
- Batting Avg vs S&P
- +55.6%
- Sortino
- +1.92
- Stutzer
- +0.32
- Treynor
- +0.31
- Sterling
- +0.94
- Calmar
- +1.38
- Information Ratio
- +0.46
- Tracking Error
- +23.7%
- Stdev Down
- +15.6%
- Winning Months %
- +61.1%
- Losing Months %
- +38.9%
- Best 12 Months
- +21.6%
- Worst 12 Months
- +6.3%
- Efficiency Ratio
- +0.4
- Sharpe
- +1.11
- Stdev Sectors
- 0%
- Skewness
- -0.47
- Kurtosis
- -0.47
- Upside Potential
- +3.52
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
Topline Capital Management, LLC's most significant position changes for 2026-06-30: Sold out: monday.com Ltd. (MNDY); Sold out: Unifirst Corp/ma (UNF); Sold out: Certara Inc (CERT); New buy: National Presto Inds Inc (NPK); New buy: Atricure Inc (ATRC).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | PRAA | Pra Group Inc | +7.8% | — | Unchanged |
| 2 | PAYS | Paysign Inc | +5.3% | — | Unchanged |
| 3 | CTKB | Cytek Biosciences Inc | +2.1% | -11.06% | Trim |
| 4 | ZVIA | Zevia Pbc-a | +1.7% | +6.35% | Add |
| 5 | KRMD | Koru Medical Systems Inc | +1.2% | -4.01% | Trim |
| 6 | DV | Doubleverify Holdings Inc | +1.2% | -36.00% | Trim |
| 7 | NPK | National Presto Inds Inc | +1.1% | NEW | New buy |
| 8 | ATRC | Atricure Inc | +1% | NEW | New buy |
| 9 | ELA | Envela CORP | +0.9% | -47.03% | Trim |
| 10 | CERS | Cerus CORP | +0.8% | NEW | New buy |
| 11 | WK | Workiva Inc | +0.6% | -17.05% | Trim |
| 12 | CGNT | Cognyte Software Ltd. | +0.6% | -36.01% | Trim |
| 13 | DCBO | Docebo Inc | +0.6% | -24.37% | Trim |
| 14 | MRDN | Meridian Holdings Inc | +0.5% | +32.92% | Add |
| 15 | OPXS | Optex Systems Holdings Inc | +0.4% | -22.44% | Trim |
| 16 | NABL | N-able Inc | +0.3% | -2.56% | Trim |
| 17 | SIF | Sifco Industries | +0.2% | NEW | New buy |
| 18 | NEPH | Nephros Inc | +0.2% | -7.95% | Trim |
| 19 | ACCS | Access Newswire Inc | +0.2% | — | Unchanged |
| 20 | HGBL | Heritage Global Inc | +0.2% | — | Unchanged |
| 21 | SMID | Smith-midland CORP | +0.2% | NEW | New buy |
| 22 | PPIH | Perma-pipe International Hol | +0.1% | NEW | New buy |
| 23 | TRC | Tejon Ranch Co | +0.1% | -9.66% | Trim |
| 24 | TAYD | Taylor Devices Inc | +0.1% | NEW | New buy |
| 25 | ISSC | Innovative Solutions & Supp | +0.1% | NEW | New buy |
| 26 | MLAB | Mesa Laboratories Inc | +0.1% | NEW | New buy |
| 27 | SSTI | Soundthinking Inc | 0% | EXIT | Sold out |
| 28 | SOTK | Sono-tek CORP | 0% | EXIT | Sold out |
| 29 | SLP | Simulations Plus Inc | 0% | -61.30% | Trim |
| 30 | NTWK | Netsol Technologies Inc | 0% | EXIT | Sold out |
| 31 | DIBS | 1stdibs.com Inc | -0.1% | -86.07% | Trim |
| 32 | CRCT | Cricut Inc - Class A | -0.1% | EXIT | Sold out |
| 33 | PRPO | Precipio Inc | -0.1% | EXIT | Sold out |
| 34 | RSSS | Research Solutions Inc | -0.2% | -97.52% | Trim |
| 35 | JRVR | James River Group Holdings I | -0.2% | EXIT | Sold out |
| 36 | NPCE | Neuropace Inc | -0.2% | EXIT | Sold out |
| 37 | TENB | Tenable Holdings Inc | -0.2% | EXIT | Sold out |
| 38 | LAW | Cs Disco Inc | -0.2% | -44.09% | Trim |
| 39 | TTD | Trade Desk Inc/the -class A | -0.2% | EXIT | Sold out |
| 40 | QTRX | Quanterix CORP | -0.3% | EXIT | Sold out |
| 41 | DSP | Viant Technology Inc-a | -0.4% | EXIT | Sold out |
| 42 | INMD | InMode Ltd. | -0.4% | EXIT | Sold out |
| 43 | PLTK | Playtika Holding CORP | -0.4% | EXIT | Sold out |
| 44 | CERT | Certara Inc | -0.7% | EXIT | Sold out |
| 45 | NUTX | Nutex Health Inc | -0.9% | -76.51% | Trim |
| 46 | NRDS | Nerdwallet Inc-cl A | -1.1% | -37.36% | Trim |
| 47 | SPT | Sprout Social Inc - Class A | -1.6% | -81.59% | Trim |
| 48 | UNF | Unifirst Corp/ma | -1.7% | EXIT | Sold out |
| 49 | MITK | Mitek Systems Inc | -3.1% | -94.17% | Trim |
| 50 | S | Sentinelone Inc -class A | -3.2% | -92.81% | Trim |
1–50 of 52
Filing History
FAQ
What is Topline Capital Management, LLC and what type of investor is it?
Topline Capital Management, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $385.7M, spread across 36 disclosed positions.
What are Topline Capital Management, LLC's largest equity positions?
Based on the latest 13F filing, Topline Capital Management, LLC's top holdings by market value are:
1. Pra Group Inc (PRAA) — $73.0M (18.9%)
2. Workiva Inc (WK) — $42.3M (11.0%)
3. Paysign Inc (PAYS) — $38.0M (9.8%)
4. Doubleverify Holdings Inc (DV) — $34.8M (9.0%)
5. Nerdwallet Inc-cl A (NRDS) — $30.4M (7.9%)
What changes did Topline Capital Management, LLC make in its most recent portfolio filing?
In the latest reported quarter, Topline Capital Management, LLC made 48 notable position adjustments: 9 new positions were initiated, 2 existing holdings were added to, 21 positions were partially reduced, and 16 were completely exited. The largest of these moves: Sold out: monday.com Ltd. (MNDY); Sold out: Unifirst Corp/ma (UNF); Sold out: Certara Inc (CERT); New buy: National Presto Inds Inc (NPK); New buy: Atricure Inc (ATRC)
What sectors does Topline Capital Management, LLC focus on?
Topline Capital Management, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 100.0%
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Investment Profile
Topline Capital Management, LLC returned an annualized 30.0% over the trailing 18 months — outperforming the S&P 500 by 11.7 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.96 (roughly in line with the market) and a 56% quarterly batting average against the index.
Its portfolio is moderately concentrated and fast-trading, with 100.0% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 59 over the past 4 quarters — a shift toward more active trading.
It has added to its PRAA position over the past two quarters (+$21.4M, now $73.0M), while trimming S over the same stretch (-$112.0M, still holding $2.2M).
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