Portolan Capital Management, LLC

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Portolan Capital Management, LLC reported 109 stock positions worth $1.3 billion. Its top holding was Lantheus (LNTH) at 6.4% of the portfolio, followed by SLM (SLM, 3.4%) and Kratos Defense & Security (KTOS, 3.3%). Compared with Q4 2024, it opened 21 new positions, sold out of 43, added to 53 and reduced 35. The biggest buy was SLM (SLM, shares +68%) and the biggest sale Semtech (SMTC, shares −90%).

Most Recent 13F
Q2 2026
Location
BOSTON, MA
CIK
0001350290
Portfolio Value
$1.3B (Q1 2025)
SEC Filing
0001104659-25-049320 ↗ filed May 15, 2025

Holdings Value

0$1.0B$2.0B$3.0B Q1 2024: $1.3B Q1 2024 Q2 2024: $1.2B Q2 2024 Q3 2024: $1.4B Q3 2024 Q4 2024: $1.5B Q4 2024 Q1 2025: $1.3B $1.3B Q1 2025 Q2 2025: $1.6B Q2 2025 Q3 2025: $1.8B Q3 2025 Q4 2025: $1.9B Q4 2025 Q1 2026: $1.9B Q1 2026 Q2 2026: $2.7B Q2 2026

Holdings 109 stocks · $1.3B
LNTH Lantheus Holdings Inc. 6.43% 867,309 $84.6M Add +6.7%
SLM SLM Corp. 3.38% 1,512,274 $44.4M Add +67.9%
KTOS Kratos Defense & Security 3.30% 1,460,730 $43.4M Add +8.4%
GENI Genius Sports Ltd. 3.26% 4,281,255 $42.9M Add +39.5%
MOD Modine Manufacturing Co. 2.88% 493,575 $37.9M Add +50.1%
FOUR SHIFT4 Payments Inc. Class A 2.52% 406,499 $33.2M Add +188.4%
EBAY eBay Inc. 2.44% 474,658 $32.1M Add +99.3%
GTES Gates Industrial Corp. UK Ltd. 2.42% 1,731,408 $31.9M Add +55.0%
CLS Celestica Inc. 2.35% 392,920 $31.0M Reduce -37.3%
HNST The Honest Co. Inc. 1.97% 5,519,206 $25.9M Add +3.0%
CSTL Castle Biosciences Inc. 1.93% 1,265,223 $25.3M Add +62.9%
ELF Elf Beauty Inc. 1.89% 395,252 $24.8M Add +71.8%
OPRA Opera Ltd.-ADR 1.85% 1,529,691 $24.4M Add +104.4%
PRCH Porch Group Inc. 1.82% 3,292,276 $24.0M Add +43.2%
RDNT Radnet Inc. 1.81% 478,406 $23.8M Add +12.7%
TREE Lendingtree Inc. 1.68% 438,795 $22.1M New
TTMI TTM Technologies 1.59% 1,021,297 $20.9M Reduce -21.5%
CROX Crocs Inc. 1.57% 194,210 $20.6M Add +138.5%
DBRG Digitalbridge Group Inc. 1.52% 2,266,652 $20.0M Add +186.2%
LUXE Luxexperience BV filed as MYT NETHERLANDS PARENT B V 1.51% 2,628,728 $19.9M Add +38.1%
VPG Vishay Precision Group 1.50% 820,973 $19.8M Add +66.8%
IIIV I3 Verticals Inc. Class A 1.48% 789,156 $19.5M Add +16.7%
LQDT Liquidity Services Inc. 1.48% 626,358 $19.4M New
QTRX Quanterix Corp. 1.47% 2,963,397 $19.3M Add +14.5%
CLBT Cellebrite Di Ltd. 1.46% 988,992 $19.2M Add +8.1%
KMPR Kemper Corp. 1.46% 286,557 $19.2M Add +24.5%
KRUS Kura Sushi USA Inc. Class A 1.45% 372,999 $19.1M Reduce -0.1%
TPR Tapestry Inc. 1.32% 247,107 $17.4M Add +24.9%
PAYO Payoneer Global Inc. 1.25% 2,243,548 $16.4M Add +3.2%
DKNG Draftkings Inc. Class A 1.24% 492,422 $16.4M Add +53.6%
ACI Albertsons Cos Inc. Class A 1.19% 709,576 $15.6M Add +44.8%
SMCI Super Micro Computer Inc. 1.13% 433,863 $14.9M Add +363.1%
VIRT Virtu Financial Inc. Class A 1.13% 388,844 $14.8M Reduce -26.4%
UTHR United Therapeutics Corp. 1.06% 45,068 $13.9M Add +216.3%
QNST Quinstreet Inc. 1.06% 778,296 $13.9M Reduce -15.2%
BELFB Bel Fuse Inc. Class B 1.05% 184,224 $13.8M Reduce -11.6%
BIDU Baidu Inc. - Spon ADR 0.94% 134,546 $12.4M New
DY Dycom Industries Inc. 0.94% 81,002 $12.3M Add +248.4%
PBPB Potbelly Corp. 0.92% 1,276,612 $12.1M Add +29.4%
MAMA Mama's Creations Inc. 0.90% 1,817,293 $11.8M Add +122.0%
SKX Skechers USA Inc. Class A 0.86% 199,867 $11.3M Add +0.5%
SG Sweetgreen Inc. Class A 0.84% 439,850 $11.0M Add +43.3%
RPRX Royalty Pharma PLC Class A 0.83% 352,257 $11.0M Add +2.4%
ENVA Enova International Inc. 0.83% 112,513 $10.9M Reduce -46.0%
WEAV Weave Communications Inc. 0.80% 952,162 $10.6M Add +119.7%
ZETA Zeta Global Holdings Corp. Class A 0.76% 741,852 $10.1M Add +11.7%
NOG Northern Oil and Gas Inc. 0.76% 331,955 $10.0M Add +68.5%
SRAD Sportradar Group AG-A 0.72% 438,020 $9.5M Reduce -38.8%
FLEX Flex Ltd. 0.71% 280,908 $9.3M Reduce -35.5%
STKL Sunopta Inc. 0.70% 1,894,080 $9.2M Add +13.6%
POWL Powell Industries Inc. 0.69% 53,224 $9.1M Add +322.6%
TTWO Take-Two Interactive Softwre 0.67% 42,729 $8.9M Add +0.6%
LUCK Lucky Strike Entertainment C 0.65% 880,427 $8.6M Reduce -38.4%
GES Guess? Inc. 0.65% 776,182 $8.6M New
TLN Talen Energy Corp. 0.65% 42,670 $8.5M Reduce -72.4%
UPWK Upwork Inc. 0.64% 644,548 $8.4M New
PSIX Power Solutions Internationa 0.57% 296,442 $7.5M Reduce -13.1%
GPOR Gulfport Energy Corp. 0.57% 40,488 $7.5M New
CDNA Caredx Inc. 0.56% 411,683 $7.3M New
META Meta Platforms Inc. Class A 0.55% 12,443 $7.2M Reduce -15.4%
ZGN Ermenegildo Zegna NV 0.54% 957,202 $7.1M Add +135.9%
HZO Marinemax Inc. 0.53% 322,105 $6.9M Add +52.0%
NTGR Netgear Inc. 0.53% 283,092 $6.9M Add +47.3%
LIND Lindblad Expeditions Holding 0.49% 689,246 $6.4M Add +26.6%
MRX Marex UK Holdings Ltd. filed as MAREX GROUP PLC 0.47% 174,196 $6.2M Reduce -22.1%
HCAT Health Catalyst Inc. 0.45% 1,317,079 $6.0M Add +75.8%
CTOS Custom Truck One Source Inc. 0.45% 1,397,327 $5.9M Reduce -3.7%
BV Brightview Holdings Inc. 0.41% 421,336 $5.4M Add +29.0%
GDOT Green Dot Corp. Class A 0.41% 636,067 $5.4M New
BIO Bio-Rad Laboratories-A 0.40% 21,740 $5.3M Reduce -28.9%
TGLS Tecnoglass Holdings Inc. 0.40% 73,148 $5.2M Reduce -35.9%
CELH Celsius Holdings Inc. 0.39% 142,549 $5.1M New
CADL Candel Therapeutics Inc. 0.38% 881,184 $5.0M Add +16.9%
GEN Gen Digital Inc. 0.38% 187,169 $5.0M New
WRBY Warby Parker Inc. Class A 0.37% 267,675 $4.9M Reduce -39.4%
MYGN Myriad Genetics Inc. 0.37% 549,922 $4.9M New
ECPG Encore Capital Group Inc. 0.37% 140,726 $4.8M Reduce -34.7%
KOS Kosmos Energy Ltd. 0.35% 2,011,814 $4.6M Add +24.4%
HUCK Huckleberry AI Inc. filed as DOMO INC 0.34% 584,277 $4.5M New
OPRT Oportun Financial Corp. 0.34% 818,354 $4.5M New
RMNI Rimini Street Inc. 0.33% 1,235,224 $4.3M New
TPB Turning Point Brands Inc. 0.32% 70,451 $4.2M Add +10.9%
REAL BROKERAGE INC/THE filed as THE REAL BROKERAGE INC 0.32% 1,023,099 $4.2M New
ESTA Establishment Labs Holdings 0.31% 100,829 $4.1M Reduce -48.0%
GEHC GE Healthcare Technology 0.29% 47,443 $3.8M New
FIVN FIVE9 Inc. 0.29% 138,255 $3.8M New
VKTX Viking Therapeutics Inc. 0.25% 138,748 $3.4M Add +8.0%
INVE Inve Technologies Inc. filed as IDENTIV INC 0.25% 1,044,652 $3.3M Reduce -0.2%
TMDX Transmedics Group Inc. 0.24% 47,536 $3.2M New
PACK Ranpak Holdings Corp. 0.24% 573,622 $3.1M New
SMWB Similarweb Ltd. 0.23% 370,191 $3.1M Add +30.9%
NTRA Natera Inc. 0.22% 20,559 $2.9M Reduce -46.7%
RELY Remitly Global Inc. 0.20% 127,227 $2.6M Reduce -81.7%
EVER Everquote Inc. Class A 0.20% 100,552 $2.6M New
FORR Forrester Research Inc. 0.20% 280,114 $2.6M Add +11.4%
SMTC Semtech Corp. 0.18% 69,307 $2.4M Reduce -89.6%
MSFT Microsoft Corp. 0.17% 5,797 $2.2M Reduce -15.3%
GCO Genesco Inc. 0.14% 88,732 $1.9M Reduce -80.9%
BXC Bluelinx Holdings Inc. 0.14% 24,393 $1.8M Reduce -30.4%
CWST Casella Waste Systems Inc. Class A 0.13% 15,303 $1.7M Reduce -0.2%
ORCL Oracle Corp. 0.10% 9,844 $1.4M Reduce -87.3%
GOOG Alphabet Inc. Class C 0.08% 6,367 $995K Add +25.7%
KIDS Orthopediatrics Corp. 0.06% 34,553 $851K Reduce -83.2%
SKY Champion Homes Inc. 0.06% 8,971 $850K Reduce -0.3%
VRT Vertiv Holdings Co. Class A 0.05% 8,234 $594K Reduce -89.8%
PRIM Primoris Services Corp. 0.04% 10,240 $588K Reduce -90.5%
RDDT Reddit Inc. Class A 0.04% 4,885 $512K Reduce -96.3%
SPWH Sportsman's Warehouse Holdin 0.02% 237,334 $236K Reduce -89.8%
PRTCY Puretech Health PLC - ADR 0.02% 11,885 $235K New

Portfolio Sells Q4 2024 → Q1 2025
SMTC Semtech Corp. Reduce -89.6% 0.18% −2.59
SNAP Snap Inc. Class A Sold out 0.00% −1.71
CLS Celestica Inc. Reduce -37.3% 2.35% −1.54
TLN Talen Energy Corp. Reduce -72.4% 0.65% −1.44
RDDT Reddit Inc. Class A Reduce -96.3% 0.04% −1.41
GCO Genesco Inc. Reduce -80.9% 0.14% −1.19
CORZ Core Scientific Inc. Sold out 0.00% −0.97
RELY Remitly Global Inc. Reduce -81.7% 0.20% −0.85
AAOI Applied Optoelectronics Inc. Sold out 0.00% −0.84
KRUS Kura Sushi USA Inc. Class A Reduce -0.1% 1.45% −0.82
ORCL Oracle Corp. Reduce -87.3% 0.10% −0.76
GNRC Generac Holdings Inc. Sold out 0.00% −0.74
DELL Dell Technologies -C Sold out 0.00% −0.68
UBS UBS Group AG-Reg Sold out 0.00% −0.66
MLR Miller Industries Inc. Sold out 0.00% −0.63
TTMI TTM Technologies Reduce -21.5% 1.59% −0.57
VRT Vertiv Holdings Co. Class A Reduce -89.8% 0.05% −0.57
BILL Bill Holdings Inc. Sold out 0.00% −0.56
WDC Western Digital Corp. Sold out 0.00% −0.52
ENVA Enova International Inc. Reduce -46.0% 0.83% −0.52
PRIM Primoris Services Corp. Reduce -90.5% 0.04% −0.51
OSG Octave Specialty Group Inc. Sold out 0.00% −0.50
ULTA Ulta Beauty Inc. Sold out 0.00% −0.49
FLEX Flex Ltd. Reduce -35.5% 0.71% −0.42
SPWH Sportsman's Warehouse Holdin Reduce -89.8% 0.02% −0.40
STNG Scorpio Tankers Inc. Sold out 0.00% −0.40
MYRG MYR Group Inc./Delaware Sold out 0.00% −0.38
CDMO Avid Bioservices Inc. Sold out 0.00% −0.38
ALTG Alta Equipment Group Inc. Sold out 0.00% −0.37
QNST Quinstreet Inc. Reduce -15.2% 1.06% −0.37
OTLY Oatly Group AB Sold out 0.00% −0.35
WRBY Warby Parker Inc. Class A Reduce -39.4% 0.37% −0.35
BASE Couchbase Inc. Sold out 0.00% −0.35
AMPH Amphastar Pharmaceuticals Inc. Sold out 0.00% −0.33
ECPG Encore Capital Group Inc. Reduce -34.7% 0.37% −0.33
MXCT Maxcyte Inc. Sold out 0.00% −0.32
NVGS Navigator Holdings Ltd. Sold out 0.00% −0.32
LUCK Lucky Strike Entertainment C Reduce -38.4% 0.65% −0.31
GOOS Canada Goose Holdings Inc. Sold out 0.00% −0.30
CACI Caci International Inc. Class A Sold out 0.00% −0.29
ESTA Establishment Labs Holdings Reduce -48.0% 0.31% −0.29
BIO Bio-Rad Laboratories-A Reduce -28.9% 0.40% −0.27
TSEM Tower Semiconductor Ltd. Sold out 0.00% −0.26
KIDS Orthopediatrics Corp. Reduce -83.2% 0.06% −0.26
BLFS Biolife Solutions Inc. Sold out 0.00% −0.24
JBL Jabil Inc. Sold out 0.00% −0.23
INDI Indie Semiconductor Inc. Class A Sold out 0.00% −0.23
SEZL Sezzle Inc. Sold out 0.00% −0.23
NBIS Nebius Group NV Sold out 0.00% −0.23
ORN Orion Group Holdings Inc. Sold out 0.00% −0.22

Portfolio Buys Q4 2024 → Q1 2025
SLM SLM Corp. Add +67.9% 3.38% +1.71
TREE Lendingtree Inc. New 1.68% +1.68
LNTH Lantheus Holdings Inc. Add +6.7% 6.43% +1.54
FOUR SHIFT4 Payments Inc. Class A Add +188.4% 2.52% +1.54
LQDT Liquidity Services Inc. New 1.48% +1.48
GENI Genius Sports Ltd. Add +39.5% 3.26% +1.47
EBAY eBay Inc. Add +99.3% 2.44% +1.45
PRCH Porch Group Inc. Add +43.2% 1.82% +1.06
CROX Crocs Inc. Add +138.5% 1.57% +0.97
BIDU Baidu Inc. - Spon ADR New 0.94% +0.94
SMCI Super Micro Computer Inc. Add +363.1% 1.13% +0.94
DBRG Digitalbridge Group Inc. Add +186.2% 1.52% +0.92
KTOS Kratos Defense & Security Add +8.4% 3.30% +0.90
OPRA Opera Ltd.-ADR Add +104.4% 1.85% +0.90
GTES Gates Industrial Corp. UK Ltd. Add +55.0% 2.42% +0.88
VPG Vishay Precision Group Add +66.8% 1.50% +0.73
UTHR United Therapeutics Corp. Add +216.3% 1.06% +0.72
DY Dycom Industries Inc. Add +248.4% 0.94% +0.67
GES Guess? Inc. New 0.65% +0.65
UPWK Upwork Inc. New 0.64% +0.64
LUXE Luxexperience BV Add +38.1% 1.51% +0.60
GPOR Gulfport Energy Corp. New 0.57% +0.57
CDNA Caredx Inc. New 0.56% +0.56
ACI Albertsons Cos Inc. Class A Add +44.8% 1.19% +0.54
CSTL Castle Biosciences Inc. Add +62.9% 1.93% +0.53
POWL Powell Industries Inc. Add +322.6% 0.69% +0.50
MAMA Mama's Creations Inc. Add +122.0% 0.90% +0.46
TPR Tapestry Inc. Add +24.9% 1.32% +0.45
DKNG Draftkings Inc. Class A Add +53.6% 1.24% +0.44
IIIV I3 Verticals Inc. Class A Add +16.7% 1.48% +0.43
KMPR Kemper Corp. Add +24.5% 1.46% +0.43
GDOT Green Dot Corp. Class A New 0.41% +0.41
CELH Celsius Holdings Inc. New 0.39% +0.39
GEN Gen Digital Inc. New 0.38% +0.38
MYGN Myriad Genetics Inc. New 0.37% +0.37
HUCK Huckleberry AI Inc. New 0.34% +0.34
OPRT Oportun Financial Corp. New 0.34% +0.34
WEAV Weave Communications Inc. Add +119.7% 0.80% +0.34
RMNI Rimini Street Inc. New 0.33% +0.33
REAL BROKERAGE INC/THE New 0.32% +0.32
MOD Modine Manufacturing Co. Add +50.1% 2.88% +0.31
ZGN Ermenegildo Zegna NV Add +135.9% 0.54% +0.31
PBPB Potbelly Corp. Add +29.4% 0.92% +0.30
GEHC GE Healthcare Technology New 0.29% +0.29
FIVN FIVE9 Inc. New 0.29% +0.29
NOG Northern Oil and Gas Inc. Add +68.5% 0.76% +0.27
TMDX Transmedics Group Inc. New 0.24% +0.24
RPRX Royalty Pharma PLC Class A Add +2.4% 0.83% +0.24
PACK Ranpak Holdings Corp. New 0.24% +0.24
EVER Everquote Inc. Class A New 0.20% +0.20

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 148$2.7BVPG, VIRT, TTMI, MOD, QLYS
Q1 2026 144$1.9BMOD, TTMI, CLS, VIRT, AKAM
Q4 2025 155$1.9BTTMI, MOD, CSTL, CLS, AKAM
Q3 2025 119$1.8BMOD, TTMI, ELF, DBRG, CLS
Q2 2025 118$1.6BCLS, KTOS, ELF, AVAV, MOD
Q1 2025 109$1.3BLNTH, SLM, KTOS, GENI, MOD
Q4 2024 131$1.5BLNTH, CLS, SMTC, MOD, HNST
Q3 2024 129$1.4BLNTH, ZETA, KTOS, TLN, CLS
Q2 2024 117$1.2BLNTH, CLS, SMCI, ZETA, KTOS
Q1 2024 116$1.3BSMCI, CLS, LNTH, ELF, BIO