Topline Capital Management, LLC
Long book
$605.3M
Q1 2026
Positions
43
Top-10 weight
70%
concentration
Last quarter
+15.5%
SPY +14.8%
Turnover
39%
of book per quarter
Strategy in plain words
auto-generated from filingsTopline Capital Management, LLC is a concentrated fundamental stock-picker, specialised in technology (64% of the long book), running a $605.3M US long book across 43 positions.
The portfolio is concentrated: the top 10 names carry 70% of the portfolio. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: PRA GROUP INC, WORKIVA INC, NERDWALLET INC-CL A, DOUBLEVERIFY HOLDINGS INC, FRESHWORKS INC-CL A.
Over the last 6 quarters its long book ran on average 1.7pp per quarter behind the S&P 500, beating the index in 3 of 6 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q4 2024
-16.7%
Q1 2025
+25.9%
Q2 2025
+1.0%
Q3 2025
+13.6%
Q4 2025
-21.6%
Q1 2026
+15.5%
Sector allocation
Technology 64%
Financials 11%
Services media 11%
Healthcare 9%
Consumer discretionary 2%
Consumer staples 1%
Other 1%
Real estate 0%
Long book by quarter
What does Topline Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| PRAA PRA GROUP INC | Financials | 3.8M | $67.3M | 11.1% | +31.8% |
| WK WORKIVA INC | Technology | 1.1M | $62.6M | 10.3% | +264.3% |
| NRDS NERDWALLET INC-CL A | Technology | 5.3M | $54.5M | 9.0% | Held |
| DV DOUBLEVERIFY HOLDINGS INC | Technology | 5.0M | $47.7M | 7.9% | -40.6% |
| FRSH FRESHWORKS INC-CL A | Technology | 5.9M | $47.5M | 7.9% | -4.9% |
| CGNT COGNYTE SOFTWARE LTD | Technology | 4.9M | $39.8M | 6.6% | -32.1% |
| CTKB CYTEK BIOSCIENCES INC | Healthcare | 7.1M | $30.9M | 5.1% | -5.1% |
| PAYS PAYSIGN INC | Services media | 4.6M | $27.4M | 4.5% | -15.7% |
| MNDY MONDAY.COM LTD | Technology | 364.0K | $25.2M | 4.2% | -22.2% |
| S SENTINELONE INC -CLASS A | Technology | 1.8M | $22.9M | 3.8% | -76.6% |
| MITK MITEK SYSTEMS INC | Technology | 1.6M | $21.8M | 3.6% | -15.6% |
| NUTX NUTEX HEALTH INC | Services media | 177.8K | $16.9M | 2.8% | -73.7% |
| SPT SPROUT SOCIAL INC - CLASS A | Technology | 2.7M | $15.5M | 2.6% | -5.7% |
| DCBO DOCEBO INC | Technology | 878.9K | $15.4M | 2.5% | +0.9% |
| KRMD KORU MEDICAL SYSTEMS INC | Healthcare | 3.5M | $15.2M | 2.5% | -10.8% |
| ELA ENVELA CORP | Consumer discretionary | 779.9K | $13.0M | 2.1% | -8.4% |
| UNF UNIFIRST CORP/MA | Services media | 40.3K | $10.1M | 1.7% | -74.5% |
| LAW CS DISCO INC | Technology | 2.6M | $10.0M | 1.7% | -20.9% |
| NABL N-ABLE INC | Technology | 2.0M | $9.1M | 1.5% | +40.7% |
| ZVIA ZEVIA PBC-A | Consumer staples | 6.7M | $7.9M | 1.3% | +31.8% |
| OPXS OPTEX SYSTEMS HOLDINGS INC | Other | 579.4K | $7.7M | 1.3% | -13.9% |
| ACCS ACCESS NEWSWIRE INC | Services media | 709.3K | $6.3M | 1.0% | Held |
| CERT CERTARA INC | Technology | 749.5K | $4.3M | 0.7% | -62.4% |
| SLP SIMULATIONS PLUS INC | Technology | 218.1K | $2.6M | 0.4% | New |
| PLTK PLAYTIKA HOLDING CORP | Technology | 915.6K | $2.5M | 0.4% | New |
| INMD INMODE LTD | Healthcare | 181.6K | $2.5M | 0.4% | -69.3% |
| HGBL HERITAGE GLOBAL INC | Services media | 1.8M | $2.4M | 0.4% | -3.5% |
| DSP VIANT TECHNOLOGY INC-A | Technology | 193.9K | $2.2M | 0.4% | -47.5% |
| QTRX QUANTERIX CORP | Healthcare | 563.1K | $2.0M | 0.3% | New |
| TRC TEJON RANCH CO | Real estate | 94.3K | $1.8M | 0.3% | +17.5% |
| NEPH NEPHROS INC | Healthcare | 582.0K | $1.7M | 0.3% | -5.3% |
| TTD TRADE DESK INC/THE -CLASS A | Technology | 59.6K | $1.4M | 0.2% | New |
| TENB TENABLE HOLDINGS INC | Technology | 69.9K | $1.2M | 0.2% | New |
| NPCE NEUROPACE INC | Healthcare | 80.9K | $1.1M | 0.2% | New |
| RSSS RESEARCH SOLUTIONS INC | Services media | 461.2K | $1.0M | 0.2% | -16.8% |
| JRVR JAMES RIVER GROUP HOLDINGS I | Financials | 164.2K | $1.0M | 0.2% | New |
| MRDN MERIDIAN HOLDINGS INC | Technology | 140.3K | $1.0M | 0.2% | New |
| PRPO PRECIPIO INC | Healthcare | 24.6K | $616K | 0.1% | -49.6% |
| CRCT CRICUT INC - CLASS A | Industrials | 123.1K | $460K | 0.1% | -80.9% |
| DIBS 1STDIBS.COM INC | Consumer discretionary | 73.6K | $405K | 0.1% | -46.1% |
| NTWK NETSOL TECHNOLOGIES INC | Technology | 78.4K | $266K | 0.0% | -82.2% |
| SOTK SONO-TEK CORP | Industrials | 35.2K | $143K | 0.0% | -79.3% |
| SSTI SOUNDTHINKING INC | Technology | 12.7K | $84K | 0.0% | -97.7% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 43 | $605.3M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 49 | $1.11B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 42 | $581.6M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 42 | $583.5M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 38 | $436.8M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 36 | $528.8M | canonical | SEC ↗ |