Portolan Capital Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Portolan Capital Management, LLC reported 119 stock positions worth $1.8 billion. Its top holding was Modine Manufacturing (MOD) at 4.6% of the portfolio, followed by TTM Technologies (TTMI, 3.7%) and Elf Beauty (ELF, 3.5%). Compared with Q2 2025, it opened 41 new positions, sold out of 40, added to 35 and reduced 42. The biggest buy was Modine Manufacturing (MOD, shares +22%) and the biggest sale Celestica (CLS, shares −54%).
- Most Recent 13F
- Q2 2026
- Location
- BOSTON, MA
- CIK
- 0001350290
- Portfolio Value
- $1.8B (Q3 2025)
- SEC Filing
- 0001104659-25-111284 ↗ filed Nov 13, 2025
Holdings Value
Holdings 119 stocks · $1.8B
| MOD Modine Manufacturing Co. | 4.63% | 602,462 | $85.6M | Add +22.4% |
| TTMI TTM Technologies | 3.71% | 1,188,822 | $68.5M | Add +5.8% |
| ELF Elf Beauty Inc. | 3.49% | 487,525 | $64.6M | Add +4.4% |
| DBRG Digitalbridge Group Inc. | 3.46% | 5,468,226 | $64.0M | Add +77.4% |
| CLS Celestica Inc. | 3.35% | 251,556 | $62.0M | Reduce -54.2% |
| KTOS Kratos Defense & Security | 2.95% | 596,106 | $54.5M | Reduce -55.1% |
| SMTC Semtech Corp. | 2.59% | 668,862 | $47.8M | Add +76.5% |
| AVAV Aerovironment Inc. | 2.52% | 147,929 | $46.6M | Reduce -17.3% |
| POWL Powell Industries Inc. | 2.45% | 148,245 | $45.2M | Reduce -13.1% |
| CLBT Cellebrite Di Ltd. | 2.43% | 2,419,662 | $44.8M | Add +139.1% |
| GENI Genius Sports Ltd. | 2.42% | 3,612,811 | $44.7M | Reduce -11.6% |
| HUCK Huckleberry AI Inc. filed as DOMO INC | 2.30% | 2,684,753 | $42.5M | Add +142.3% |
| TLN Talen Energy Corp. | 2.18% | 94,717 | $40.3M | Add +44.4% |
| FLEX Flex Ltd. | 1.87% | 595,786 | $34.5M | Add +24.0% |
| CSTL Castle Biosciences Inc. | 1.87% | 1,515,111 | $34.5M | Add +1.7% |
| GOOS Canada Goose Holdings Inc. | 1.62% | 2,174,001 | $30.0M | Add +46.1% |
| VPG Vishay Precision Group | 1.43% | 823,298 | $26.4M | Reduce -16.9% |
| PRCH Porch Group Inc. | 1.39% | 1,534,303 | $25.7M | Reduce -37.2% |
| HNST The Honest Co. Inc. | 1.38% | 6,928,004 | $25.5M | Add +11.4% |
| IIIV I3 Verticals Inc. Class A | 1.31% | 747,656 | $24.3M | Reduce -22.3% |
| REAL BROKERAGE INC/THE filed as THE REAL BROKERAGE INC | 1.30% | 5,769,203 | $24.1M | Add +190.5% |
| TSEM Tower Semiconductor Ltd. | 1.28% | 327,305 | $23.7M | Add +198.6% |
| OPRA Opera Ltd.-ADR | 1.26% | 1,124,085 | $23.2M | Add +28.3% |
| QTRX Quanterix Corp. | 1.25% | 4,259,851 | $23.1M | Add +17.2% |
| LASR Nlight Inc. | 1.23% | 769,788 | $22.8M | New |
| WWW Wolverine World Wide Inc. | 1.18% | 796,627 | $21.9M | New |
| GDOT Green Dot Corp. Class A | 1.17% | 1,615,280 | $21.7M | Add +15.3% |
| MAMA Mama's Creations Inc. | 1.16% | 2,034,928 | $21.4M | Reduce -6.0% |
| PRIM Primoris Services Corp. | 1.11% | 149,241 | $20.5M | Add +50.1% |
| ZETA Zeta Global Holdings Corp. Class A | 1.10% | 1,025,195 | $20.4M | Reduce -22.1% |
| PSIX Power Solutions Internationa | 1.04% | 195,804 | $19.2M | New |
| FSLR First Solar Inc. | 0.99% | 83,198 | $18.3M | New |
| WRBY Warby Parker Inc. Class A | 0.96% | 646,088 | $17.8M | Reduce -31.9% |
| BELFB Bel Fuse Inc. Class B | 0.94% | 123,766 | $17.5M | Add +97.9% |
| RDNT Radnet Inc. | 0.93% | 226,669 | $17.3M | Reduce -33.6% |
| WIX Wix.com Ltd. | 0.92% | 95,809 | $17.0M | New |
| ACMR Acm Research Inc. Class A | 0.86% | 405,860 | $15.9M | New |
| LNTH Lantheus Holdings Inc. | 0.82% | 297,208 | $15.2M | Add +16.8% |
| VRT Vertiv Holdings Co. Class A | 0.82% | 100,599 | $15.2M | Add +31.1% |
| FOUR SHIFT4 Payments Inc. Class A | 0.79% | 188,761 | $14.6M | Reduce -56.6% |
| SEI Solaris Energy Infrastructur | 0.79% | 363,440 | $14.5M | New |
| SMCI Super Micro Computer Inc. | 0.77% | 296,341 | $14.2M | Add +200.7% |
| AAOI Applied Optoelectronics Inc. | 0.77% | 546,219 | $14.2M | Add +20.0% |
| DKNG Draftkings Inc. Class A | 0.75% | 372,002 | $13.9M | Reduce -24.2% |
| CDNA Caredx Inc. | 0.73% | 933,532 | $13.6M | Add +48.2% |
| LUXE Luxexperience BV | 0.72% | 1,561,266 | $13.3M | Reduce -49.0% |
| BIO Bio-Rad Laboratories-A | 0.70% | 46,440 | $13.0M | Reduce -26.0% |
| SPHR Sphere Entertainment Co. | 0.70% | 208,418 | $12.9M | New |
| LPTH Lightpath Technologies Inc. Class A | 0.70% | 1,631,622 | $12.9M | New |
| ZGN Ermenegildo Zegna NV | 0.70% | 1,369,176 | $12.9M | Add +15.6% |
| CIEN Ciena Corp. | 0.70% | 88,786 | $12.9M | New |
| BAND Bandwidth Inc. Class A | 0.67% | 745,802 | $12.4M | Add +115.8% |
| ALNT Allient Inc. | 0.62% | 257,653 | $11.5M | New |
| RPAY Repay Holdings Corp. | 0.62% | 2,182,925 | $11.4M | New |
| TTWO Take-Two Interactive Softwre | 0.61% | 43,611 | $11.3M | Reduce -0.1% |
| ENVA Enova International Inc. | 0.61% | 97,817 | $11.3M | Reduce -0.1% |
| SMWB Similarweb Ltd. | 0.59% | 1,179,000 | $11.0M | Add +62.0% |
| FN Fabrinet | 0.57% | 28,770 | $10.5M | Add +48.2% |
| HZO Marinemax Inc. | 0.54% | 392,713 | $9.9M | Add +27.5% |
| KRUS Kura Sushi USA Inc. Class A | 0.54% | 167,408 | $9.9M | Reduce -2.7% |
| CELH Celsius Holdings Inc. | 0.51% | 164,031 | $9.4M | Add +125.1% |
| GTES Gates Industrial Corp. UK Ltd. | 0.49% | 366,945 | $9.1M | Reduce -44.3% |
| CXT Crane NXT Co. | 0.48% | 131,989 | $8.9M | New |
| META Meta Platforms Inc. Class A | 0.46% | 11,688 | $8.6M | Reduce -0.2% |
| PL Planet Labs PBC | 0.44% | 630,964 | $8.2M | New |
| LITE Lumentum Holdings Inc. | 0.44% | 49,457 | $8.0M | New |
| RDDT Reddit Inc. Class A | 0.43% | 34,550 | $7.9M | Reduce -36.6% |
| BKSY Blacksky Technology Inc. | 0.42% | 389,802 | $7.9M | New |
| LPRO Open Lending Corp. | 0.42% | 3,673,890 | $7.8M | New |
| TMDX Transmedics Group Inc. | 0.42% | 68,910 | $7.7M | New |
| UTHR United Therapeutics Corp. | 0.41% | 18,076 | $7.6M | Reduce -41.2% |
| GNRC Generac Holdings Inc. | 0.41% | 45,031 | $7.5M | New |
| LINC Lincoln Educational Services | 0.41% | 319,878 | $7.5M | Reduce -18.9% |
| STC Stewart Information Services | 0.40% | 101,782 | $7.5M | New |
| UPWK Upwork Inc. | 0.40% | 393,929 | $7.3M | New |
| TGLS Tecnoglass Holdings Inc. | 0.40% | 109,265 | $7.3M | Reduce -27.1% |
| NUS Nu Skin Enterprises Inc. Class A | 0.39% | 596,724 | $7.3M | New |
| CADL Candel Therapeutics Inc. | 0.38% | 1,384,142 | $7.1M | Reduce -14.7% |
| FEIM Frequency Electronics Inc. | 0.37% | 203,827 | $6.9M | New |
| DOUG Douglas Elliman Inc. | 0.36% | 2,353,950 | $6.7M | Add +28.5% |
| ESTA Establishment Labs Holdings | 0.34% | 155,096 | $6.4M | Add +24.7% |
| TIC Tic Solutions Inc. filed as ACUREN CORP | 0.34% | 472,954 | $6.3M | New |
| GCT Gigacloud Technology Inc. Class A | 0.34% | 220,387 | $6.3M | Reduce -4.5% |
| ECG Everus Construction Group | 0.34% | 72,930 | $6.3M | New |
| LMT Lockheed Martin Corp. | 0.34% | 12,506 | $6.2M | Reduce -21.7% |
| SHLS Shoals Technologies Group -A | 0.33% | 815,205 | $6.0M | New |
| AMRC Ameresco Inc. Class A | 0.32% | 174,903 | $5.9M | New |
| VNET Vnet Group Inc.-ADR | 0.32% | 567,466 | $5.9M | New |
| ONTO Onto Innovation Inc. | 0.31% | 44,564 | $5.8M | New |
| FORR Forrester Research Inc. | 0.29% | 513,872 | $5.4M | Add +46.1% |
| TGEN Tecogen Inc./Waltham Ma | 0.28% | 595,806 | $5.2M | Add +28.0% |
| LEVI Levi Strauss & Co. Class A | 0.27% | 214,221 | $5.0M | New |
| PKE Park Aerospace Corp. | 0.27% | 245,035 | $5.0M | New |
| PRG Prog Holdings Inc. | 0.26% | 150,161 | $4.9M | New |
| OLPX Olaplex Holdings Inc. | 0.26% | 3,635,124 | $4.8M | Add +132.6% |
| WGS Genedx Holdings Corp. | 0.26% | 44,048 | $4.7M | Reduce -72.8% |
| SITM Sitime Corp. | 0.25% | 15,503 | $4.7M | New |
| WYFI Whitefiber Inc. | 0.24% | 160,669 | $4.4M | New |
| CTOS Custom Truck One Source Inc. | 0.23% | 649,076 | $4.2M | New |
| RCKY Rocky Brands Inc. | 0.21% | 128,307 | $3.8M | Reduce -38.7% |
Portfolio Sells Q2 2025 → Q3 2025
| CLS Celestica Inc. | Reduce -54.2% | 3.35% | −2.03 |
| FOUR SHIFT4 Payments Inc. Class A | Reduce -56.6% | 0.79% | −1.91 |
| SLM SLM Corp. | Sold out | 0.00% | −1.46 |
| PBPB Potbelly Corp. | Sold out | 0.00% | −1.28 |
| METC Ramaco Resources Inc. Class A | Sold out | 0.00% | −1.17 |
| TPR Tapestry Inc. | Reduce -88.1% | 0.16% | −1.03 |
| KTOS Kratos Defense & Security | Reduce -55.1% | 2.95% | −0.92 |
| LUXE Luxexperience BV | Reduce -49.0% | 0.72% | −0.81 |
| ALGN Align Technology Inc. | Sold out | 0.00% | −0.80 |
| VIRT Virtu Financial Inc. Class A | Sold out | 0.00% | −0.77 |
| PAYO Payoneer Global Inc. | Sold out | 0.00% | −0.75 |
| OPRT Oportun Financial Corp. | Sold out | 0.00% | −0.73 |
| BOOT Boot Barn Holdings Inc. | Sold out | 0.00% | −0.71 |
| LHX L3HARRIS Technologies Inc. | Reduce -89.8% | 0.08% | −0.70 |
| WGS Genedx Holdings Corp. | Reduce -72.8% | 0.26% | −0.68 |
| AVAV Aerovironment Inc. | Reduce -17.3% | 2.52% | −0.67 |
| HII Huntington Ingalls Industrie | Sold out | 0.00% | −0.63 |
| WLDN Willdan Group Inc. | Reduce -89.7% | 0.09% | −0.57 |
| DKNG Draftkings Inc. Class A | Reduce -24.2% | 0.75% | −0.57 |
| GPOR Gulfport Energy Corp. | Sold out | 0.00% | −0.55 |
| LOCO El Pollo Loco Holdings Inc. | Sold out | 0.00% | −0.52 |
| ACI Albertsons Cos Inc. Class A | Sold out | 0.00% | −0.47 |
| HCAT Health Catalyst Inc. | Sold out | 0.00% | −0.47 |
| GTES Gates Industrial Corp. UK Ltd. | Reduce -44.3% | 0.49% | −0.46 |
| KMPR Kemper Corp. | Sold out | 0.00% | −0.44 |
| WT Wisdomtree Inc. | Reduce -89.6% | 0.05% | −0.44 |
| PWP Perella Weinberg Partners | Sold out | 0.00% | −0.43 |
| GRAB Grab Holdings Ltd. Class A | Sold out | 0.00% | −0.43 |
| PRCH Porch Group Inc. | Reduce -37.2% | 1.39% | −0.41 |
| SRAD Sportradar Group AG-A | Reduce -61.4% | 0.19% | −0.41 |
| AVPT Avepoint Inc. | Sold out | 0.00% | −0.39 |
| KRUS Kura Sushi USA Inc. Class A | Reduce -2.7% | 0.54% | −0.39 |
| MYGN Myriad Genetics Inc. | Sold out | 0.00% | −0.39 |
| SG Sweetgreen Inc. Class A | Reduce -38.4% | 0.14% | −0.34 |
| IIIV I3 Verticals Inc. Class A | Reduce -22.3% | 1.31% | −0.34 |
| WRBY Warby Parker Inc. Class A | Reduce -31.9% | 0.96% | −0.34 |
| WEAV Weave Communications Inc. | Sold out | 0.00% | −0.34 |
| FLR Fluor Corp. | Sold out | 0.00% | −0.34 |
| TGLS Tecnoglass Holdings Inc. | Reduce -27.1% | 0.40% | −0.33 |
| BV Brightview Holdings Inc. | Sold out | 0.00% | −0.32 |
| VPG Vishay Precision Group | Reduce -16.9% | 1.43% | −0.32 |
| FIVN FIVE9 Inc. | Sold out | 0.00% | −0.31 |
| NTGR Netgear Inc. | Sold out | 0.00% | −0.31 |
| RL Ralph Lauren Corp. | Sold out | 0.00% | −0.29 |
| RDNT Radnet Inc. | Reduce -33.6% | 0.93% | −0.28 |
| TTAM Titan America SA | Sold out | 0.00% | −0.28 |
| CROX Crocs Inc. | Sold out | 0.00% | −0.27 |
| SM SM Energy Co. | Sold out | 0.00% | −0.26 |
| DECK Deckers Outdoor Corp. | Sold out | 0.00% | −0.26 |
| BXC Bluelinx Holdings Inc. | Reduce -88.7% | 0.03% | −0.25 |
Portfolio Buys Q2 2025 → Q3 2025
| MOD Modine Manufacturing Co. | Add +22.4% | 4.63% | +1.59 |
| SMTC Semtech Corp. | Add +76.5% | 2.59% | +1.51 |
| DBRG Digitalbridge Group Inc. | Add +77.4% | 3.46% | +1.46 |
| CLBT Cellebrite Di Ltd. | Add +139.1% | 2.43% | +1.41 |
| HUCK Huckleberry AI Inc. | Add +142.3% | 2.30% | +1.33 |
| LASR Nlight Inc. | New | 1.23% | +1.23 |
| WWW Wolverine World Wide Inc. | New | 1.18% | +1.18 |
| PSIX Power Solutions Internationa | New | 1.04% | +1.04 |
| FSLR First Solar Inc. | New | 0.99% | +0.99 |
| TLN Talen Energy Corp. | Add +44.4% | 2.18% | +0.98 |
| TSEM Tower Semiconductor Ltd. | Add +198.6% | 1.28% | +0.98 |
| WIX Wix.com Ltd. | New | 0.92% | +0.92 |
| ACMR Acm Research Inc. Class A | New | 0.86% | +0.86 |
| TTMI TTM Technologies | Add +5.8% | 3.71% | +0.83 |
| SEI Solaris Energy Infrastructur | New | 0.79% | +0.79 |
| REAL BROKERAGE INC/THE | Add +190.5% | 1.30% | +0.74 |
| SPHR Sphere Entertainment Co. | New | 0.70% | +0.70 |
| LPTH Lightpath Technologies Inc. Class A | New | 0.70% | +0.70 |
| CIEN Ciena Corp. | New | 0.70% | +0.70 |
| ALNT Allient Inc. | New | 0.62% | +0.62 |
| PRIM Primoris Services Corp. | Add +50.1% | 1.11% | +0.62 |
| RPAY Repay Holdings Corp. | New | 0.62% | +0.62 |
| GOOS Canada Goose Holdings Inc. | Add +46.1% | 1.62% | +0.58 |
| BELFB Bel Fuse Inc. Class B | Add +97.9% | 0.94% | +0.56 |
| CXT Crane NXT Co. | New | 0.48% | +0.48 |
| SMCI Super Micro Computer Inc. | Add +200.7% | 0.77% | +0.47 |
| PL Planet Labs PBC | New | 0.44% | +0.44 |
| LITE Lumentum Holdings Inc. | New | 0.44% | +0.44 |
| BKSY Blacksky Technology Inc. | New | 0.42% | +0.42 |
| LPRO Open Lending Corp. | New | 0.42% | +0.42 |
| TMDX Transmedics Group Inc. | New | 0.42% | +0.42 |
| GNRC Generac Holdings Inc. | New | 0.41% | +0.41 |
| STC Stewart Information Services | New | 0.40% | +0.40 |
| UPWK Upwork Inc. | New | 0.40% | +0.40 |
| NUS Nu Skin Enterprises Inc. Class A | New | 0.39% | +0.39 |
| FEIM Frequency Electronics Inc. | New | 0.37% | +0.37 |
| FLEX Flex Ltd. | Add +24.0% | 1.87% | +0.36 |
| TIC Tic Solutions Inc. | New | 0.34% | +0.34 |
| ECG Everus Construction Group | New | 0.34% | +0.34 |
| BAND Bandwidth Inc. Class A | Add +115.8% | 0.67% | +0.33 |
| SHLS Shoals Technologies Group -A | New | 0.33% | +0.33 |
| AMRC Ameresco Inc. Class A | New | 0.32% | +0.32 |
| VNET Vnet Group Inc.-ADR | New | 0.32% | +0.32 |
| ONTO Onto Innovation Inc. | New | 0.31% | +0.31 |
| CELH Celsius Holdings Inc. | Add +125.1% | 0.51% | +0.30 |
| LEVI Levi Strauss & Co. Class A | New | 0.27% | +0.27 |
| PKE Park Aerospace Corp. | New | 0.27% | +0.27 |
| PRG Prog Holdings Inc. | New | 0.26% | +0.26 |
| SITM Sitime Corp. | New | 0.25% | +0.25 |
| WYFI Whitefiber Inc. | New | 0.24% | +0.24 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 148 | $2.7B | VPG, VIRT, TTMI, MOD, QLYS |
| Q1 2026 | 144 | $1.9B | MOD, TTMI, CLS, VIRT, AKAM |
| Q4 2025 | 155 | $1.9B | TTMI, MOD, CSTL, CLS, AKAM |
| Q3 2025 | 119 | $1.8B | MOD, TTMI, ELF, DBRG, CLS |
| Q2 2025 | 118 | $1.6B | CLS, KTOS, ELF, AVAV, MOD |
| Q1 2025 | 109 | $1.3B | LNTH, SLM, KTOS, GENI, MOD |
| Q4 2024 | 131 | $1.5B | LNTH, CLS, SMTC, MOD, HNST |
| Q3 2024 | 129 | $1.4B | LNTH, ZETA, KTOS, TLN, CLS |
| Q2 2024 | 117 | $1.2B | LNTH, CLS, SMCI, ZETA, KTOS |
| Q1 2024 | 116 | $1.3B | SMCI, CLS, LNTH, ELF, BIO |