Guild Holdings (GHLD) had the highest return last month by a small-cap US stock, returning 237%.

ASSET	MONTH	% RETURN
Guild Holdings (GHLD)	November 2025	237.01%
Forge Global (FRGE)	November 2025	104.14%
Relmada Therapeutics (RLMD)	November 2025	103.15%
Innventure (INV)	November 2025	97.59%
Falcon's Beyond Global, Inc Class A Common Stock (FBYD)	November 2025	85.81%
Ironwood Pharmaceuticals (IRWD)	November 2025	78.57%
E W Scripps Co Class A (SSP)	November 2025	75.52%
Babcock & Wilcox Enterprises (BW)	November 2025	73.61%
Sigma Lithium Resources (SGML)	November 2025	69.44%
Neuropace (NPCE)	November 2025	65.59%
Sight Sciences (SGHT)	November 2025	64.57%
Hotel101 Global Holdings Corp Class A Ordinary Shares (HBNB)	November 2025	63.33%
Semrush (SEMR)	November 2025	63.17%
Alumis (ALMS)	November 2025	62.85%
TryHard Holdings Limited Ordinary Shares (THH)	November 2025	61.93%
Tactile Systems Technology (TCMD)	November 2025	61.09%
Rigel Pharmaceuticals (RIGL)	November 2025	59.88%
Herbalife Nutrition (HLF)	November 2025	57.16%
MBX Biosciences, Inc Common Stock (MBX)	November 2025	57.06%
Denny’s (DENN)	November 2025	57%
Castle Biosciences (CSTL)	November 2025	56.67%
NGL Energy Partners (NGL)	November 2025	56.03%
SurModics (SRDX)	November 2025	55.78%
Hycroft Mining (HYMC)	November 2025	53.95%
Compass Therapeutics (CMPX)	November 2025	53.85%

Small-cap stocks are treated as having a market cap between $300M and $2B.