Air Transport Services (ATSG) had the highest return in March 2009 by a small-cap US stock, returning 280%.

ASSET	MONTH	% RETURN
Air Transport Services (ATSG)	March 2009	280%
OFG Bancorp (OFG)	March 2009	167.35%
Financial Institutions (FISI)	March 2009	131.81%
Safehold (SAFE)	March 2009	117.83%
Beazer Homes USA (BZH)	March 2009	102%
Customers Bancorp (CUBI)	March 2009	100%
Kulicke and Soffa Industries (KLIC)	March 2009	98.49%
LifeMD (LFMD)	March 2009	91.67%
Independent Bank (IBCP)	March 2009	90.24%
LSI Industries (LYTS)	March 2009	88%
Hovnanian Enterprises (HOV)	March 2009	83.53%
POET Technologies (POET)	March 2009	83.33%
Telesat (TSAT)	March 2009	82.56%
Digital Turbine (APPS)	March 2009	82%
Helix Energy Solutions (HLX)	March 2009	80.35%
Quantum Computing (QUBT)	March 2009	80%
BlueLinx (BXC)	March 2009	76.35%
Shyft (SHYF)	March 2009	75.55%
Build-A-Bear Workshop (BBW)	March 2009	73.43%
American Coastal Insurance (ACIC)	March 2009	72.72%
BioCryst Pharmaceuticals (BCRX)	March 2009	72.44%
Sify Technologies (SIFY)	March 2009	71.67%
Canadian Solar (CSIQ)	March 2009	70.86%
Himax Technologies (HIMX)	March 2009	70.73%
G-III Apparel (GIII)	March 2009	64.29%

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