Aris Mining (ARMN) had the highest return between 2008 and 2012 by a small-cap US stock, returning 22,565.5%.

ASSET	YEARS	% RETURN
Aris Mining (ARMN)	2008-2012	22,565.5%
Par Pacific (PARR)	2008-2012	1,899.93%
Virtus Investment Partners (VRTS)	2008-2012	1,243.78%
Mitek Systems (MITK)	2008-2012	744.74%
Mesoblast (MESO)	2008-2012	741.08%
HealthStream (HSTM)	2008-2012	600.58%
3D Systems (DDD)	2008-2012	593.75%
Sturm Ruger (RGR)	2008-2012	536.24%
Clearfield (CLFD)	2008-2012	468.35%
BioLife Solutions (BLFS)	2008-2012	466.67%
ePlus (PLUS)	2008-2012	385.33%
Steven Madden (SHOO)	2008-2012	376.27%
Turtle Beach (TBCH)	2008-2012	330.63%
B&G Foods (BGS)	2008-2012	287.22%
Travere Therapeutics (TVTX)	2008-2012	272.22%
Stepan (SCL)	2008-2012	272.05%
Barings BDC (BBDC)	2008-2012	260.49%
Ituran Location and Control (ITRN)	2008-2012	257.97%
Clearwater Paper (CLW)	2008-2012	248.09%
Burke & Herbert Financial Services Corp Common Stock (BHRB)	2008-2012	237.74%
Imax (IMAX)	2008-2012	230.59%
Mativ (MATV)	2008-2012	227.68%
Baytex Energy (BTE)	2008-2012	226.06%
HCI (HCI)	2008-2012	224.51%
Magic Software Enterprises (MGIC)	2008-2012	222.39%

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