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Topline Capital Management, LLC

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13F filer, CIK 1792549, SANTA MONICA, CA

Topline Capital Management, LLC reported $583,473,032 across 42 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14. Its ten largest share positions make up 72.01% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001085146-25-005251

Period
2025-06-30
Reported value
$583M
Holdings
42
Top 10 weight
72.01%
New
12
Sold out
8

Largest buys vs the previous quarter

SecurityShares changeApprox. value
PRAAadded+1,411,707$20.8M
NUTXadded+129,418$16.1M
CTKBadded+3,760,485$12.8M
FRSHadded+413,213$6.16M
MITKnew+528,766$5.23M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
PSFEreduced-1,396,445-$17.6M
RSIreduced-559,751-$8.34M
CORECARD CORPORATIONreduced-191,923-$5.56M
CVEOexited-212,823-$4.89M
BLreduced-78,628-$4.45M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001085146-25-005251, largest first. % of portfolio is the value over $583,473,032, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
CGNTCOGNYTE SOFTWARE LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 9,020,184 shares; 2025Q1: 7,099,650 shares; 2025Q2: 7,027,290 shares 7,027,290$64.9M11.13%-72,360Timeline
NRDSNERDWALLET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 5,251,145 shares; 2025Q1: 5,251,145 shares; 2025Q2: 5,251,145 shares 5,251,145$57.6M9.87%0Timeline
GDOTGREEN DOT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 5,376,787 shares; 2025Q1: 4,633,469 shares; 2025Q2: 4,965,286 shares 4,965,286$53.5M9.17%+331,817Timeline
BLBLACKLINE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 996,904 shares; 2025Q1: 914,000 shares; 2025Q2: 835,372 shares 835,372$47.3M8.11%-78,628Timeline
PAYSPAYSIGN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 5,611,128 shares; 2025Q1: 5,336,146 shares; 2025Q2: 5,421,737 shares 5,421,737$39M6.69%+85,591Timeline
NUTXNUTEX HEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 179,540 shares; 2025Q1: 179,713 shares; 2025Q2: 309,131 shares 309,131$38.5M6.6%+129,418Timeline
PRAAPRA GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: 838,922 shares; 2025Q2: 2,250,629 shares 2,250,629$33.2M5.69%+1,411,707Timeline
SAPIENS INTL CORP N V SHSSAPIENS INTL CORP N V SHSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 898,662 shares; 2025Q1: 945,377 shares; 2025Q2: 1,037,075 shares 1,037,075$30.3M5.2%+91,698
FRSHFRESHWORKS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 1,680,000 shares; 2025Q1: 1,520,000 shares; 2025Q2: 1,933,213 shares 1,933,213$28.8M4.94%+413,213Timeline
RSIRUSH STREET INTERACTIVE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 1,811,323 shares; 2025Q1: 2,366,875 shares; 2025Q2: 1,807,124 shares 1,807,124$26.9M4.61%-559,751Timeline
PERFORMANT HEALTHCARE INCPERFORMANT HEALTHCARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 6,525,324 shares; 2025Q1: 5,942,510 shares; 2025Q2: 5,462,442 shares 5,462,442$21.8M3.74%-480,068
CTKBCYTEK BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 236,596 shares; 2025Q1: 1,470,775 shares; 2025Q2: 5,231,260 shares 5,231,260$17.8M3.05%+3,760,485Timeline
UNFUNIFIRST CORP MASSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 23,329 shares; 2025Q1: 48,961 shares; 2025Q2: 74,562 shares 74,562$14M2.41%+25,601Timeline
LAWCS DISCO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 1,909,829 shares; 2025Q1: 1,784,222 shares; 2025Q2: 2,965,268 shares 2,965,268$13M2.22%+1,181,046Timeline
KRMDKORU MEDICAL SYSTEMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 4,327,164 shares; 2025Q1: 3,821,230 shares; 2025Q2: 3,608,347 shares 3,608,347$12.9M2.21%-212,883Timeline
CTEVCLARITEV CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 321,698 shares; 2025Q1: 278,257 shares; 2025Q2: 243,935 shares 243,935$11M1.89%-34,322Timeline
ACCSACCESS NEWSWIRE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 709,264 shares; 2025Q1: 709,264 shares; 2025Q2: 709,264 shares 709,264$8.72M1.5%0Timeline
OPXSOPTEX SYS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 779,901 shares; 2025Q1: 779,901 shares; 2025Q2: 691,256 shares 691,256$7.94M1.36%-88,645Timeline
PSFEPAYSAFE LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 2,016,445 shares; 2025Q1: 2,016,445 shares; 2025Q2: 620,000 shares 620,000$7.82M1.34%-1,396,445Timeline
ELAENVELA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 754,603 shares; 2025Q1: 754,963 shares; 2025Q2: 862,433 shares 862,433$5.28M0.9%+107,470Timeline
MITKMITEK SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 528,766 shares 528,766$5.23M0.9%newTimeline
JYNTJOINT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 325,338 shares; 2025Q1: 378,294 shares; 2025Q2: 449,204 shares 449,204$5.18M0.89%+70,910Timeline
IDNINTELLICHECK MOBILISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 1,159,878 shares; 2025Q1: 1,014,507 shares; 2025Q2: 894,649 shares 894,649$4.82M0.83%-119,858Timeline
WKWORKIVA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 58,000 shares 58,000$3.97M0.68%newTimeline
CORECARD CORPORATIONCORECARD CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 322,337 shares; 2025Q1: 320,817 shares; 2025Q2: 128,894 shares 128,894$3.73M0.64%-191,923
HGBLHERITAGE GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 1,927,096 shares; 2025Q1: 1,694,744 shares; 2025Q2: 1,678,507 shares 1,678,507$3.73M0.64%-16,237Timeline
SSENTINELONE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 175,269 shares 175,269$3.2M0.55%newTimeline
ILMNILLUMINA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: 27,200 shares; 2025Q2: 24,600 shares 24,600$2.35M0.4%-2,600Timeline
EXFYEXPENSIFY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 920,947 shares; 2025Q1: 941,609 shares; 2025Q2: 776,796 shares 776,796$2.01M0.34%-164,813Timeline
NEPHNEPHROS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 419,887 shares; 2025Q1: 422,089 shares; 2025Q2: 477,449 shares 477,449$1.95M0.33%+55,360Timeline
DCBODOCEBO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 55,257 shares 55,257$1.6M0.27%newTimeline
NTWKNETSOL TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 515,682 shares; 2025Q1: 487,750 shares; 2025Q2: 467,750 shares 467,750$1.45M0.25%-20,000Timeline
SVCOSILVACO GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 232,290 shares 232,290$1.1M0.19%newTimeline
FLYYSPIRIT AVIATION HLDGS INC COM(Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 202,457 shares 202,457$1.01M0.17%newTimeline
CRGOFREIGHTOS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 270,696 shares 270,696$658K0.11%newTimeline
CCELCRYO-CELL INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 47,791 shares; 2025Q1: 47,791 shares; 2025Q2: 40,553 shares 40,553$210K0.04%-7,238Timeline
INNVINNOVAGE HLDG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 58,740 shares; 2025Q1: 70,143 shares; 2025Q2: 43,378 shares 43,378$160K0.03%-26,765Timeline
INMDINMODE LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 11,047 shares 11,047$160K0.03%newTimeline
RSSSRESEARCH SOLUTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 43,629 shares 43,629$125K0.02%newTimeline
DIBS1STDIBS COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 43,504 shares 43,504$120K0.02%newTimeline
BTMDBIOTE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 28,595 shares 28,595$115K0.02%newTimeline
GOLDEN MATRIX GROUP INCGOLDEN MATRIX GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 53,215 shares 53,215$90.5K0.02%new

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
CVEOCIVEO CORP CDA212,823$4.89Mshares
GRSDGRANDSTAND LTD225,000$2.84Mshares
QTRXQUANTERIX CORP386,037$2.51Mshares
VSTSVESTIS CORPORATION130,000$1.29Mshares
CMBMFCAMBIUM NETWORKS CORP SHS (CYM1,411,420$996Kshares
SEMRSEMRUSH HLDGS INC99,426$928Kshares
NABLN-ABLE INC101,789$722Kshares
GAIAGAIA INC NEW45,944$177Kshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001085146-25-005251 base2025-08-14acceptance time not in the bulk data set