Perkins Capital Management Inc.

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 23, 2026), Perkins Capital Management Inc. reported 86 stock positions worth $106.7 million. Its top holding was Natera (NTRA) at 8.3% of the portfolio, followed by Eli Lilly (LLY, 7.6%) and Axogen (AXGN, 5.2%). Compared with Q4 2025, it opened 4 new positions, sold out of 9, added to 12 and reduced 47. The biggest buy was Quicklogic (QUIK, shares +11%) and the biggest sale an exit from Digital Turbine (APPS).

Most Recent 13F
Q2 2026
Location
WAYZATA, MN
CIK
0000884300
Portfolio Value
$106.7M (Q1 2026)
SEC Filing
0000884300-26-000002 ↗ filed Apr 23, 2026

Holdings Value

0$50.0M$100.0M$150.0M Q1 2024: $119.9M Q1 2024 Q2 2024: $106.1M Q2 2024 Q3 2024: $106.6M Q3 2024 Q4 2024: $112.7M Q4 2024 Q1 2025: $94.8M Q1 2025 Q2 2025: $99.5M Q2 2025 Q3 2025: $113.5M Q3 2025 Q4 2025: $125.9M Q4 2025 Q1 2026: $106.7M $106.7M Q1 2026 Q2 2026: $133.0M Q2 2026

Holdings 86 stocks · $106.7M

NTRA Natera Inc. 8.30% 44,300 $8.9M Reduce -0.6%
LLY Eli Lilly & Co. 7.61% 8,830 $8.1M Reduce -1.5%
AXGN Axogen Inc. 5.24% 168,842 $5.6M Reduce -26.1%
IDXX Idexx Laboratories Inc. 5.11% 9,700 $5.5M No change
MSFT Microsoft Corp. 3.96% 11,415 $4.2M Reduce -6.5%
BFLY Butterfly Network Inc. 3.52% 930,930 $3.8M Add +0.8%
CIEN Ciena Corp. 3.23% 6,300 $3.4M No change
MDXH Mdxhealth 3.18% 1,476,441 $3.4M Add +7.1%
AMD Advanced Micro Devices 2.96% 15,504 $3.2M Reduce -12.2%
QUIK Quicklogic Corp. 2.70% 306,706 $2.9M Add +11.2%
LMAT Lemaitre Vascular Inc. 2.64% 25,825 $2.8M Reduce -10.6%
OOMA Ooma Inc. 2.47% 181,250 $2.6M Reduce -0.6%
VCYT Veracyte Inc. 2.27% 75,333 $2.4M Reduce -0.1%
ABT Abbott Laboratories 1.99% 20,659 $2.1M Reduce -3.5%
ATEC Alphatec Holdings Inc. 1.75% 171,847 $1.9M Add +0.1%
ONDS Ondas Inc. 1.71% 201,983 $1.8M Reduce -0.3%
CYRX Cryoport Inc. 1.58% 203,247 $1.7M Reduce -0.4%
NEOG Neogen Corp. 1.55% 178,000 $1.7M Reduce -0.7%
PERI Perion Network Ltd. 1.47% 156,865 $1.6M Add +13.4%
PSNL Personalis Inc. 1.43% 239,000 $1.5M No change
MGNI Magnite Inc. 1.33% 119,275 $1.4M Reduce -2.0%
LUCD Lucid Diagnostics Inc. 1.21% 1,126,000 $1.3M No change
INGN Inogen Inc. 1.16% 199,600 $1.2M Reduce -8.3%
INUV Inuvo Inc. 1.13% 582,291 $1.2M Reduce -0.5%
CXDO Crexendo Inc. 1.13% 194,850 $1.2M No change
BLZE Backblaze Inc. Class A 1.10% 339,025 $1.2M Add +21.6%
ABBV Abbvie Inc. 1.09% 5,342 $1.2M Reduce -8.6%
NEUROONE MED TECHNOLOGIES CO 1.07% 1,473,000 $1.1M No change
PFE Pfizer Inc. 0.94% 35,909 $1.0M Reduce -3.8%
GILD Gilead Sciences Inc. 0.94% 7,216 $1.0M Reduce -12.7%
NEO Neogenomics Inc. 0.92% 132,350 $982K Reduce -6.7%
MRK Merck & Co. Inc. 0.87% 7,750 $932K Reduce -11.4%
TLSI Trisalus Life Sciences Inc. 0.86% 230,101 $920K New
ZETA Zeta Global Holdings Corp. Class A 0.83% 55,900 $890K Reduce -1.1%
SPAI Safe Pro Group Inc. 0.83% 231,250 $881K New
TELA Tela Bio Inc. 0.82% 1,418,328 $879K Add +1.5%
CDXS Codexis Inc. 0.81% 527,500 $860K Reduce -0.4%
USIO Usio Inc. 0.75% 701,932 $800K Reduce -0.6%
ELUT Elutia Inc. 0.74% 756,894 $795K Reduce -3.0%
CPSH CPS Technologies Corp. 0.70% 200,585 $750K Reduce -0.7%
ATRC Atricure Inc. 0.70% 26,100 $745K Reduce -4.9%
VTRS Viatris Inc. 0.70% 54,895 $742K Reduce -5.2%
PROF Profound Medical Corp. 0.69% 114,280 $741K No change
SKYT Skywater Technology Inc. 0.68% 26,400 $724K Reduce -80.3%
BKSY Blacksky Technology Inc. 0.68% 28,750 $723K No change
AAPL Apple Inc. 0.63% 2,650 $673K Reduce -43.0%
USB US Bancorp 0.61% 12,550 $653K No change
BDSX Biodesix Inc. 0.61% 44,783 $649K No change
COP Conocophillips 0.60% 4,850 $640K Reduce -7.6%
CELC Celcuity Inc. 0.58% 5,400 $616K Reduce -15.6%
ANIP Ani Pharmaceuticals Inc. 0.57% 7,841 $603K Reduce -7.1%
TGT Target Corp. 0.56% 4,900 $594K No change
BLNE Beeline Holdings Inc. 0.54% 245,000 $576K No change
OWLT Owlet Inc. 0.51% 106,095 $545K Add +3.9%
T AT&T Inc. 0.43% 15,992 $464K Reduce -28.9%
VZ Verizon Communications Inc. 0.43% 9,108 $457K Reduce -16.9%
BMY Bristol-Myers Squibb Co. 0.42% 7,430 $451K Reduce -11.9%
BP BP PLC-Spons ADR 0.41% 9,200 $432K No change
DCI Donaldson Co. Inc. 0.37% 4,600 $390K Add +4.5%
CSTL Castle Biosciences Inc. 0.35% 15,415 $378K Reduce -45.0%
PLUS Eplus Inc. 0.35% 5,000 $376K No change
NXPI NXP Semiconductors NV 0.33% 1,800 $354K Reduce -21.7%
DGII Digi International Inc. 0.33% 7,333 $353K No change
FAST Fastenal Co. 0.32% 7,250 $336K No change
VCEL Vericel Corp. 0.32% 10,450 $336K Reduce -2.3%
GIS General Mills Inc. 0.31% 8,875 $330K Reduce -14.9%
ELWT Elauwit Connection Inc. 0.31% 55,500 $329K No change
LFVN Lifevantage Corp. 0.31% 75,458 $326K No change
VERI Veritone Inc. 0.29% 157,250 $310K Reduce -10.4%
JNJ Johnson & Johnson 0.27% 1,200 $293K Reduce -25.0%
BLFS Biolife Solutions Inc. 0.22% 12,500 $239K No change
STX Seagate Technology Holdings 0.20% 550 $215K New
XGN Exagen Inc. 0.20% 71,796 $215K Add +286.5%
MRNA Moderna Inc. 0.19% 4,000 $203K New
XOM Exxon Mobil Corp. 0.19% 1,194 $203K Reduce -29.5%
ASUR Asure Software Inc. 0.19% 23,500 $202K No change
APYX Apyx Medical Corp. 0.15% 42,000 $155K Reduce -50.6%
AIRG Airgain Inc. 0.11% 22,000 $121K No change
OPRX Optimizerx Corp. 0.09% 15,908 $100K Reduce -8.6%
PBYI Puma Biotechnology Inc. 0.07% 12,500 $80K No change
RMTI Rockwell Medical Inc. 0.06% 70,371 $63K Add +3.7%
IRIX Iridex Corp. 0.05% 55,300 $56K Add +33.9%
LUNG Pulmonx Corp. 0.05% 41,000 $53K Reduce -16.3%
SOPH Sophia Genetics SA 0.05% 10,500 $52K No change
DYAI Dyadic International Inc. 0.04% 48,050 $39K Reduce -86.0%
ARAY Accuray Inc. 0.02% 52,500 $20K Reduce -39.3%

Portfolio Sells Q4 2025 → Q1 2026

APPS Digital Turbine Inc. Sold out 0.00% −1.45
SKYT Skywater Technology Inc. Reduce -80.3% 0.68% −1.25
VELO VELO3D Inc. Sold out 0.00% −0.95
MSFT Microsoft Corp. Reduce -6.5% 3.96% −0.73
AXGN Axogen Inc. Reduce -26.1% 5.24% −0.69
DAWN Day One Biopharmaceuticals I Sold out 0.00% −0.62
CSTL Castle Biosciences Inc. Reduce -45.0% 0.35% −0.51
NEO Neogenomics Inc. Reduce -6.7% 0.92% −0.40
AAPL Apple Inc. Reduce -43.0% 0.63% −0.37
INTC Intel Corp. Sold out 0.00% −0.37
VERI Veritone Inc. Reduce -10.4% 0.29% −0.36
VCYT Veracyte Inc. Reduce -0.1% 2.27% −0.25
MGNI Magnite Inc. Reduce -2.0% 1.33% −0.24
DYAI Dyadic International Inc. Reduce -86.0% 0.04% −0.22
COST Costco Wholesale Corp. Sold out 0.00% −0.17
ATRC Atricure Inc. Reduce -4.9% 0.70% −0.16
TCMD Tactile Systems Technology I Sold out 0.00% −0.16
HAIN Hain Celestial Group Inc. Sold out 0.00% −0.15
ABT Abbott Laboratories Reduce -3.5% 1.99% −0.14
APYX Apyx Medical Corp. Reduce -50.6% 0.15% −0.09
CVRX CVRX Inc. Sold out 0.00% −0.09
ZETA Zeta Global Holdings Corp. Class A Reduce -1.1% 0.83% −0.08
OPRX Optimizerx Corp. Reduce -8.6% 0.09% −0.08
GIS General Mills Inc. Reduce -14.9% 0.31% −0.08
NXPI NXP Semiconductors NV Reduce -21.7% 0.33% −0.06
AMD Advanced Micro Devices Reduce -12.2% 2.96% −0.05
LLY Eli Lilly & Co. Reduce -1.5% 7.61% −0.04
ARAY Accuray Inc. Reduce -39.3% 0.02% −0.04
LUNG Pulmonx Corp. Reduce -16.3% 0.05% −0.04
INUV Inuvo Inc. Reduce -0.5% 1.13% −0.02
USIO Usio Inc. Reduce -0.6% 0.75% −0.01
T AT&T Inc. Reduce -28.9% 0.43% −0.01
INGN Inogen Inc. Reduce -8.3% 1.16% −0.01
FPAYQ Flexshopper Inc. Sold out 0.00% 0.00
VCEL Vericel Corp. Reduce -2.3% 0.32% +0.01
JNJ Johnson & Johnson Reduce -25.0% 0.27% +0.01
CYRX Cryoport Inc. Reduce -0.4% 1.58% +0.02
XOM Exxon Mobil Corp. Reduce -29.5% 0.19% +0.03
ABBV Abbvie Inc. Reduce -8.6% 1.09% +0.03
ANIP Ani Pharmaceuticals Inc. Reduce -7.1% 0.57% +0.04
BMY Bristol-Myers Squibb Co. Reduce -11.9% 0.42% +0.06
CELC Celcuity Inc. Reduce -15.6% 0.58% +0.07
VZ Verizon Communications Inc. Reduce -16.9% 0.43% +0.07
CDXS Codexis Inc. Reduce -0.4% 0.81% +0.12
VTRS Viatris Inc. Reduce -5.2% 0.70% +0.12
GILD Gilead Sciences Inc. Reduce -12.7% 0.94% +0.14
ONDS Ondas Inc. Reduce -0.3% 1.71% +0.14
MRK Merck & Co. Inc. Reduce -11.4% 0.87% +0.14
NTRA Natera Inc. Reduce -0.6% 8.30% +0.20
CPSH CPS Technologies Corp. Reduce -0.7% 0.70% +0.21

Portfolio Buys Q4 2025 → Q1 2026

QUIK Quicklogic Corp. Add +11.2% 2.70% +1.38
TLSI Trisalus Life Sciences Inc. New 0.86% +0.86
SPAI Safe Pro Group Inc. New 0.83% +0.83
BFLY Butterfly Network Inc. Add +0.8% 3.52% +0.74
PERI Perion Network Ltd. Add +13.4% 1.47% +0.42
STX Seagate Technology Holdings New 0.20% +0.20
MRNA Moderna Inc. New 0.19% +0.19
XGN Exagen Inc. Add +286.5% 0.20% +0.11
BLZE Backblaze Inc. Class A Add +21.6% 1.10% +0.06
DCI Donaldson Co. Inc. Add +4.5% 0.37% +0.06
IRIX Iridex Corp. Add +33.9% 0.05% +0.01
RMTI Rockwell Medical Inc. Add +3.7% 0.06% +0.01
TELA Tela Bio Inc. Add +1.5% 0.82% −0.49
MDXH Mdxhealth Add +7.1% 3.18% −0.73
OWLT Owlet Inc. Add +3.9% 0.51% −0.80
ATEC Alphatec Holdings Inc. Add +0.1% 1.75% −1.12

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 79$133.0MNTRA, LLY, AMD, BFLY, AXGN
Q1 2026 86$106.7MNTRA, LLY, AXGN, IDXX, MSFT
Q4 2025 91$125.9MNTRA, LLY, AXGN, IDXX, MSFT
Q3 2025 83$113.5MNTRA, LLY, MDXH, MSFT, IDXX
Q2 2025 83$99.5MNTRA, LLY, MSFT, IDXX, MGNI
Q1 2025 82$94.8MLLY, NTRA, AXGN, MSFT, IDXX
Q4 2024 81$112.7MNTRA, LLY, MSFT, INUV, AXGN
Q3 2024 84$106.6MLLY, NTRA, MSFT, IDXX, AXGN
Q2 2024 88$106.1MLLY, MSFT, NTRA, IDXX, ELUT
Q1 2024 90$119.9MLLY, MSFT, AUGX, IDXX, NTRA