Topline Capital Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Topline Capital Management, LLC reported 49 stock positions worth $1.1 billion. Its top holding was Sentinelone Class A (S) at 10.3% of the portfolio, followed by Nutex Health (NUTX, 10.1%) and Doubleverify (DV, 8.7%). Compared with Q3 2025, it opened 15 new positions, sold out of 8, added to 23 and reduced 9. The biggest buy was a new position in Sentinelone Class A (S) and the biggest sale Green Dot Class A (GDOT, shares −28%).
- Most Recent 13F
- Q2 2026
- Location
- SANTA MONICA, CA
- CIK
- 0001792549
- Portfolio Value
- $1.1B (Q4 2025)
- SEC Filing
- 0001792549-26-000021 ↗ filed Feb 17, 2026
Holdings Value
Holdings 49 stocks · $1.1B
| S Sentinelone Inc. Class A | 10.33% | 7,612,982 | $114.2M | New |
| NUTX Nutex Health Inc. | 10.06% | 675,494 | $111.2M | Add +21.4% |
| DV Doubleverify Holdings Inc. | 8.75% | 8,453,543 | $96.7M | New |
| FRSH Freshworks Inc. Class A | 6.90% | 6,223,651 | $76.2M | Add +125.1% |
| NRDS Nerdwallet Inc. Class A | 6.44% | 5,251,145 | $71.2M | No change |
| MNDY Monday.com Ltd. | 6.25% | 468,000 | $69.1M | New |
| CGNT Cognyte Software Ltd. | 6.16% | 7,238,153 | $68.0M | Add +0.6% |
| PRAA Pra Group Inc. | 4.67% | 2,918,487 | $51.6M | Add +11.6% |
| GDOT Green Dot Corp. Class A | 3.84% | 3,315,574 | $42.5M | Reduce -28.1% |
| CTKB Cytek Biosciences Inc. | 3.40% | 7,442,466 | $37.6M | Add +7.2% |
| SPT Sprout Social Inc. Class A | 2.95% | 2,889,410 | $32.6M | Add +112.7% |
| UNF Unifirst Corp. | 2.76% | 158,117 | $30.5M | Add +29.2% |
| PAYS Paysign Inc. | 2.56% | 5,504,288 | $28.3M | Add +1.1% |
| LAW CS Disco Inc. | 2.33% | 3,317,374 | $25.7M | Add +3.5% |
| WK Workiva Inc. | 2.25% | 288,250 | $24.9M | Add +3302.8% |
| KRMD Koru Medical Systems Inc. | 2.07% | 3,941,014 | $22.9M | Add +8.0% |
| MITK Mitek Systems Inc. | 1.82% | 1,909,722 | $20.1M | Add +80.9% |
| DCBO Docebo Inc. | 1.75% | 871,299 | $19.3M | Add +169.6% |
| CERT Certara Inc. | 1.59% | 1,990,927 | $17.5M | Add +264.3% |
| ILMN Illumina Inc. | 1.31% | 110,076 | $14.4M | New |
| BL Blackline Inc. | 1.19% | 237,173 | $13.1M | Reduce -58.4% |
| ZVIA Zevia PBC-A | 1.08% | 5,121,790 | $11.9M | New |
| ELA Envela Corp. | 1.03% | 851,763 | $11.4M | Reduce -1.3% |
| NABL N-Able Inc. | 0.94% | 1,387,181 | $10.4M | Add +205.2% |
| OPXS Optex Systems Holdings Inc. | 0.86% | 672,934 | $9.5M | Reduce -0.9% |
| OSPN Onespan Inc. | 0.79% | 680,433 | $8.7M | Add +94.8% |
| INMD Inmode Ltd. | 0.79% | 592,461 | $8.7M | Add +123.8% |
| CTEV Claritev Corp. | 0.76% | 196,718 | $8.4M | Reduce -2.5% |
| STAA Staar Surgical Co. | 0.62% | 297,672 | $6.9M | New |
| ACCS Access Newswire Inc. | 0.60% | 709,264 | $6.6M | No change |
| IDN Intellicheck Inc. | 0.46% | 761,026 | $5.1M | Reduce -0.8% |
| DSP Viant Technology Inc. Class A | 0.40% | 368,959 | $4.4M | Add +48.1% |
| SSTI Soundthinking Inc. | 0.40% | 545,666 | $4.4M | New |
| CRCT Cricut Inc. Class A | 0.29% | 644,621 | $3.2M | New |
| NEPH Nephros Inc. | 0.27% | 614,302 | $3.0M | Add +3.0% |
| HGBL Heritage Global Inc. | 0.21% | 1,850,964 | $2.3M | Add +10.3% |
| EEFT Euronet Worldwide Inc. | 0.15% | 22,515 | $1.7M | New |
| RSSS Research Solutions Inc. | 0.15% | 554,506 | $1.6M | Add +126.4% |
| NTWK Netsol Technologies Inc. | 0.12% | 441,264 | $1.3M | Reduce -1.4% |
| TRC Tejon Ranch Co. | 0.11% | 80,273 | $1.3M | New |
| PRPO Precipio Inc. | 0.10% | 48,896 | $1.1M | Reduce -24.9% |
| GOLDEN MATRIX GROUP INC | 0.10% | 1,396,108 | $1.1M | Add +123.8% |
| CERS Cerus Corp. | 0.08% | 410,963 | $847K | New |
| DIBS 1STDIBS.COM Inc. | 0.07% | 136,514 | $818K | Reduce -28.9% |
| CRGO Freightos Ltd. | 0.07% | 356,834 | $814K | Add +32.6% |
| SOTK Sono-Tek Corp. | 0.06% | 169,875 | $702K | New |
| FORR Forrester Research Inc. | 0.05% | 65,168 | $529K | New |
| NAII Natural Alternatives Intl | 0.04% | 109,503 | $392K | New |
| KRT Karat Packaging Inc. | 0.03% | 14,022 | $316K | New |
Portfolio Sells Q3 2025 → Q4 2025
| GDOT Green Dot Corp. Class A | Reduce -28.1% | 3.84% | −6.81 |
| BL Blackline Inc. | Reduce -58.4% | 1.19% | −4.02 |
| CCRD Corecard Corp. | Sold out | 0.00% | −1.10 |
| CTEV Claritev Corp. | Reduce -2.5% | 0.76% | −1.08 |
| JYNT The Joint Corp. | Sold out | 0.00% | −0.71 |
| SEMR Semrush Holdings Inc. Class A | Sold out | 0.00% | −0.67 |
| OPXS Optex Systems Holdings Inc. | Reduce -0.9% | 0.86% | −0.64 |
| JAMF Jamf Holding Corp. | Sold out | 0.00% | −0.31 |
| RPAY Repay Holdings Corp. | Sold out | 0.00% | −0.27 |
| NTWK Netsol Technologies Inc. | Reduce -1.4% | 0.12% | −0.24 |
| IDN Intellicheck Inc. | Reduce -0.8% | 0.46% | −0.23 |
| SVCO Silvaco Group Inc. | Sold out | 0.00% | −0.16 |
| ELA Envela Corp. | Reduce -1.3% | 1.03% | −0.13 |
| PRPO Precipio Inc. | Reduce -24.9% | 0.10% | −0.10 |
| PLPC Preformed Line Products Co. | Sold out | 0.00% | −0.07 |
| OFLX Omega Flex Inc. | Sold out | 0.00% | −0.06 |
| DIBS 1STDIBS.COM Inc. | Reduce -28.9% | 0.07% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| S Sentinelone Inc. Class A | New | 10.33% | +10.33 |
| DV Doubleverify Holdings Inc. | New | 8.75% | +8.75 |
| MNDY Monday.com Ltd. | New | 6.25% | +6.25 |
| WK Workiva Inc. | Add +3302.8% | 2.25% | +2.12 |
| ILMN Illumina Inc. | New | 1.31% | +1.31 |
| FRSH Freshworks Inc. Class A | Add +125.1% | 6.90% | +1.30 |
| ZVIA Zevia PBC-A | New | 1.08% | +1.08 |
| STAA Staar Surgical Co. | New | 0.62% | +0.62 |
| CERT Certara Inc. | Add +264.3% | 1.59% | +0.44 |
| SSTI Soundthinking Inc. | New | 0.40% | +0.40 |
| NABL N-Able Inc. | Add +205.2% | 0.94% | +0.33 |
| CRCT Cricut Inc. Class A | New | 0.29% | +0.29 |
| DCBO Docebo Inc. | Add +169.6% | 1.75% | +0.23 |
| NUTX Nutex Health Inc. | Add +21.4% | 10.06% | +0.17 |
| EEFT Euronet Worldwide Inc. | New | 0.15% | +0.15 |
| TRC Tejon Ranch Co. | New | 0.11% | +0.11 |
| INMD Inmode Ltd. | Add +123.8% | 0.79% | +0.11 |
| CERS Cerus Corp. | New | 0.08% | +0.08 |
| SOTK Sono-Tek Corp. | New | 0.06% | +0.06 |
| MITK Mitek Systems Inc. | Add +80.9% | 1.82% | +0.05 |
| FORR Forrester Research Inc. | New | 0.05% | +0.05 |
| NAII Natural Alternatives Intl | New | 0.04% | +0.04 |
| DSP Viant Technology Inc. Class A | Add +48.1% | 0.40% | +0.03 |
| KRT Karat Packaging Inc. | New | 0.03% | +0.03 |
| RSSS Research Solutions Inc. | Add +126.4% | 0.15% | −0.01 |
| GOLDEN MATRIX GROUP INC | Add +123.8% | 0.10% | −0.02 |
| SPT Sprout Social Inc. Class A | Add +112.7% | 2.95% | −0.07 |
| CRGO Freightos Ltd. | Add +32.6% | 0.07% | −0.08 |
| OSPN Onespan Inc. | Add +94.8% | 0.79% | −0.16 |
| NEPH Nephros Inc. | Add +3.0% | 0.27% | −0.21 |
| HGBL Heritage Global Inc. | Add +10.3% | 0.21% | −0.27 |
| KRMD Koru Medical Systems Inc. | Add +8.0% | 2.07% | −0.33 |
| CTKB Cytek Biosciences Inc. | Add +7.2% | 3.40% | −0.74 |
| UNF Unifirst Corp. | Add +29.2% | 2.76% | −0.76 |
| LAW CS Disco Inc. | Add +3.5% | 2.33% | −1.23 |
| PRAA Pra Group Inc. | Add +11.6% | 4.67% | −2.27 |
| PAYS Paysign Inc. | Add +1.1% | 2.56% | −3.32 |
| CGNT Cognyte Software Ltd. | Add +0.6% | 6.16% | −4.24 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 36 | $385.7M | PRAA, WK, PAYS, DV, NRDS |
| Q1 2026 | 43 | $605.3M | PRAA, WK, NRDS, DV, FRSH |
| Q4 2025 | 49 | $1.1B | S, NUTX, DV, FRSH, NRDS |
| Q3 2025 | 42 | $581.6M | GDOT, CGNT, NUTX, NRDS, PRAA |
| Q2 2025 | 42 | $583.5M | CGNT, NRDS, GDOT, BL, PAYS |
| Q1 2025 | 38 | $436.8M | CGNT, NRDS, BL, GDOT, PSFE |
| Q4 2024 | 36 | $528.8M | CGNT, NRDS, BL, GDOT, PSFE |