Topline Capital Management, LLC

SANTA MONICA, CA · CIK 1792549 · 13F filing filed 2026-08-14

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

$385.7m reported value -36.3% vs Q1 2026

36positions

80.9%in top 10

9 new 2 added 21 reduced 16 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	PRA GROUP INC COM PRAA	PRAA	3,845,334	$73.0m18.93%	18.93%	Unchanged
2	WORKIVA INC COM CL A WK	WK	871,101	$42.3m10.96%	10.96%	Reduced -179.0k	-178,989 -17.1%
3	PAYSIGN INC COM PAYS	PAYS	4,639,061	$38.0m9.85%	9.85%	Unchanged
4	DOUBLEVERIFY HLDGS INC COM DV	DV	3,214,515	$34.8m9.03%	9.03%	Reduced -1.8m	-1,808,377 -36.0%
5	NERDWALLET INC COM CL A NRDS	NRDS	3,289,285	$30.4m7.89%	7.89%	Reduced -2.0m	-1,961,860 -37.4%
6	CYTEK BIOSCIENCES INC COM CTKB	CTKB	6,283,450	$27.8m7.22%	7.22%	Reduced -781.0k	-781,031 -11.1%
7	COGNYTE SOFTWARE LTD ORD SHS CGNT	CGNT	3,143,271	$27.6m7.16%	7.16%	Reduced -1.8m	-1,768,729 -36.0%
8	KORU MEDICAL SYSTEMS INC COM KRMD	KRMD	3,373,842	$14.2m3.67%	3.67%	Reduced -141.1k	-141,069 -4.0%
9	ENVELA CORP COM ELA	ELA	413,150	$11.9m3.09%	3.09%	Reduced -366.8k	-366,799 -47.0%
10	DOCEBO INC COM DCBO	DCBO	664,727	$11.9m3.09%	3.09%	Reduced -214.2k	-214,177 -24.4%
11	ZEVIA PBC CL A ZVIA	ZVIA	7,177,524	$11.7m3.03%	3.03%	Added +428.9k	+428,860 6.3%
12	NUTEX HEALTH INC COM NUTX	NUTX	41,764	$7.1m1.85%	1.85%	Reduced -136.0k	-136,036 -76.5%
13	N-ABLE INC COMMON STOCK NABL	NABL	1,902,005	$7.0m1.81%	1.81%	Reduced -50.0k	-49,981 -2.6%
14	OPTEX SYS HLDGS INC COM NEW OPXS	OPXS	449,363	$6.3m1.63%	1.63%	Reduced -130.0k	-130,000 -22.4%
15	CS DISCO INC COM LAW	LAW	1,466,665	$5.5m1.44%	1.44%	Reduced -1.2m	-1,156,449 -44.1%
16	ISSUER DIRECT CORP COM NEW ACCS	ACCS	709,264	$4.6m1.20%	1.20%	Unchanged
17	NATIONAL PRESTO INDS INC COM NPK	NPK	32,282	$4.0m1.05%	1.05%	New
18	ATRICURE INC COM ATRC	ATRC	138,490	$3.9m1.00%	1.00%	New
19	SPROUT SOCIAL INC COM CL A SPT	SPT	501,772	$3.8m0.98%	0.98%	Reduced -2.2m	-2,224,030 -81.6%
20	CERUS CORP COM CERS	CERS	1,051,676	$3.1m0.80%	0.80%	New
21	MERIDIAN HOLDINGS INC COM MRDN	MRDN	186,440	$2.6m0.67%	0.67%	Added +46.2k	+46,174 32.9%
22	SENTINELONE INC CL A S	S	128,038	$2.2m0.56%	0.56%	Reduced -1.7m	-1,651,962 -92.8%
23	HERITAGE GLOBAL INC COM HGBL	HGBL	1,785,488	$2.2m0.56%	0.56%	Unchanged
24	NEPHROS INC COM NEPH	NEPH	535,698	$1.9m0.50%	0.50%	Reduced -46.3k	-46,269 -8.0%
25	MITEK SYS INC COM NEW MITK	MITK	93,985	$1.9m0.49%	0.49%	Reduced -1.5m	-1,518,076 -94.2%
26	TEJON RANCH CO COM TRC	TRC	85,229	$1.6m0.41%	0.41%	Reduced -9.1k	-9,109 -9.7%
27	SIMULATIONS PLUS INC COM COM		84,412	$1.5m0.40%	0.40%	Reduced -133.7k	-133,730 -61.3%
28	SIFCO INDS INC COM SIF	SIF	35,610	$833.3k0.22%	0.22%	New
29	SMITH MIDLAND CORP COM SMID	SMID	20,012	$580.3k0.15%	0.15%	New
30	PERMA-PIPE INTL HLDGS INC COM PPIH	PPIH	16,561	$451.0k0.12%	0.12%	New
31	TAYLOR DEVICES INC COM TAYD	TAYD	4,427	$259.8k0.07%	0.07%	New
32	INNOVATIVE SOLUTIONS & SUPPO COM IA	IA	13,424	$241.6k0.06%	0.06%	New
33	MESA LABS INC COM MLAB	MLAB	2,374	$236.3k0.06%	0.06%	New
34	FRESHWORKS INC CLASS A COM FRSH	FRSH	10,860	$109.9k0.03%	0.03%	Reduced -5.9m	-5,906,726 -99.8%
35	1STDIBS COM INC COM DIBS	DIBS	10,256	$50.3k0.01%	0.01%	Reduced -63.4k	-63,387 -86.1%
36	RESEARCH SOLUTIONS INC COM RSSS	RSSS	11,430	$26.5k0.01%	0.01%	Reduced -449.7k	-449,747 -97.5%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
MONDAY COM LTD MNDY	MNDY	363,974	$25.2m364.0k shares
UNIFIRST CORP MASS UNF	UNF	40,318	$10.1m40.3k shares
CERTARA INC CERT	CERT	749,497	$4.3m749.5k shares
PLAYTIKA HLDG CORP PLTK	PLTK	915,621	$2.5m915.6k shares
INMODE LTD INMD	INMD	181,649	$2.5m181.6k shares
VIANT TECHNOLOGY INC DSP	DSP	193,886	$2.2m193.9k shares
QUANTERIX CORP QTRX	QTRX	563,135	$2.0m563.1k shares
THE TRADE DESK INC TTD	TTD	59,572	$1.4m59.6k shares
TENABLE HLDGS INC TENB	TENB	69,904	$1.2m69.9k shares
NEUROPACE INC NPCE	NPCE	80,945	$1.1m80.9k shares
JAMES RIV GROUP HOLDINGS INC JRVR	JRVR	164,194	$1.0m164.2k shares
PRECIPIO INC PRPO	PRPO	24,624	$615.6k24.6k shares
CRICUT INC CRCT	CRCT	123,061	$460.2k123.1k shares
NETSOL TECHNOLOGIES INC NTWK	NTWK	78,375	$265.7k78.4k shares
SONO TEK CORP SOTK	SOTK	35,159	$142.7k35.2k shares
SOUNDTHINKING INC SSTI	SSTI	12,722	$84.2k12.7k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
COGNYTE SOFTWARE LTD CGNT · 13G · filed 2026-02-13	CGNT	9.9%≈ $63.6m		13G	2026-02-13
NUTEX HEALTH INC NUTX · 13G · filed 2025-10-29	NUTX	9.9%	+4.8 pts	13G	2025-10-29
PAYSIGN INC PAYS · 13G · filed 2025-02-10	PAYS	9.9%≈ $43.7m		13G	2025-02-10
ZEVIA PBC ZVIA · 13G · filed 2026-02-13	ZVIA	8.8%≈ $9.7m	new	13G	2026-02-13
KORU MEDICAL SYSTEMS INC KRMD · 13G · filed 2026-02-13	KRMD	8.5%≈ $16.6m		13G	2026-02-13
PRA GROUP INC PRAA · 13G · filed 2026-02-13	PRAA	7.4%≈ $55.4m	+2.1 pts	13G	2026-02-13
NEPHROS INC NEPH · 13G · filed 2025-11-14	NEPH	5.6%≈ $2.1m	new	13G	2025-11-14
SPROUT SOCIAL INC SPT · 13G · filed 2026-02-13	SPT	5.4%≈ $21.8m	new	13G	2026-02-13
CYTEK BIOSCIENCES INC CTKB · 13G · filed 2025-11-17	CTKB	5.3%≈ $30.0m	new	13G	2025-11-17
DOUBLEVERIFY HLDGS INC DV · 13G · filed 2026-02-13	DV	5.2%≈ $91.6m	new	13G	2026-02-13
CS DISCO INC LAW · 13G · filed 2025-11-14	LAW	5.1%≈ $12.2m	new	13G	2025-11-14
HERITAGE GLOBAL INC HGBL · 13G · filed 2025-02-10	HGBL	5.1%≈ $2.3m		13G	2025-02-10

Trades reported as a company insider since 1 Apr 2026

Owning 10% or more of a company, or having someone on its board, makes this manager an insider there: it reports its trades in that company's shares on Form 4 within two business days. Open-market and private purchases and sales only.

Date	Company	Ticker	Trade	Shares	Value	Their holding
2026-06-30	NERDWALLET INC See Explanation in Footnotes · By Topline Capital Partners, LP	NRDS	Sold	454,872	$4.2m454.9k shares	-12%
2026-06-29	NERDWALLET INC See Explanation in Footnotes · By Topline Capital Partners, LP	NRDS	Sold	587,835	$5.4m587.8k shares	-14%
2026-06-26	NERDWALLET INC See Explanation in Footnotes · By Topline Capital Partners, LP	NRDS	Sold	919,153	$8.2m919.2k shares	-18%