Portolan Capital Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
51JOB, INC. ADR	COM	316827104	1,508	20,993	SH		SOLE		0	0	0
A. H. BELO CORPORATION SERIES A	COM	001282102	493	62,759	SH		SOLE		0	0	0
ABIOMED, INC.	COM	003654100	6,045	317,154	SH		SOLE		0	0	0
ABRAXAS PETROLEUM CORPORATION	COM	003830106	9,113	3,544,588	SH		SOLE		0	0	0
AKAMAI TECHNOLOGIES, INC.	COM	00971T101	628	12,148	SH		SOLE		0	0	0
ALERE, INC.	COM	01449J105	304	9,947	SH		SOLE		0	0	0
ALTISOURCE ASSET MANAGEMENT CORPORATION	COM	02153X108	3,556	6,672	SH		SOLE		0	0	0
ALTISOURCE PORTFOLIO SOLUTIONS S.A.	COM	L0175J104	13,177	94,116	SH		SOLE		0	0	0
ALTISOURCE RESIDENTIAL CORPORATION	COM	02153W100	9,330	406,016	SH		SOLE		0	0	0
AMERICAN APPAREL INC.	COM	023850100	2,741	2,108,669	SH		SOLE		0	0	0
AMERICAN AXLE & MFG HOLDINGS, INC.	COM	024061103	2,449	124,174	SH		SOLE		0	0	0
ANIKA THERAPEUTICS, INC.	COM	035255108	3,439	143,958	SH		SOLE		0	0	0
ARMSTRONG WORLD INDUSTRIES, INC.	COM	04247X102	3,664	66,661	SH		SOLE		0	0	0
AVIS BUDGET GROUP, INC.	COM	053774105	7,027	243,723	SH		SOLE		0	0	0
BAIDU, INC. SPONSORED ADR	COM	056752108	1,093	7,043	SH		SOLE		0	0	0
BANC OF CALIFORNIA, INC.	COM	05990K106	3,821	276,302	SH		SOLE		0	0	0
BANK OF MARIN BANCORP	COM	063425102	473	11,385	SH		SOLE		0	0	0
BLUCORA, INC.	COM	095229100	2,043	88,911	SH		SOLE		0	0	0
BRAVO BRIO RESTAURANT GROUP, INC.	COM	10567B109	305	20,203	SH		SOLE		0	0	0
BUILDERS FIRSTSOURCE, INC.	COM	12008R107	4,374	743,864	SH		SOLE		0	0	0
CABELA'S INCORPORATED CLASS A	COM	126804301	2,493	39,560	SH		SOLE		0	0	0
CABOT CORPORATION	COM	127055101	2,202	51,559	SH		SOLE		0	0	0
CAESARSTONE SDOT-YAM LTD	COM	M20598104	2,259	49,458	SH		SOLE		0	0	0
CAI INTERNATIONAL, INC.	COM	12477X106	2,868	123,228	SH		SOLE		0	0	0
CAPITAL ONE FINANCIAL CORPORATION	COM	14040H105	296	4,303	SH		SOLE		0	0	0
CAPITAL SENIOR LIVING CORPORATION	COM	140475104	6,447	304,802	SH		SOLE		0	0	0
CARROLS RESTAURANT GROUP, INC.	COM	14574X104	2,823	463,600	SH		SOLE		0	0	0
CASELLA WASTE SYSTEMS, INC. CLASS A	COM	147448104	1,181	205,388	SH		SOLE		0	0	0
CITI TRENDS, INC.	COM	17306X102	2,446	139,903	SH		SOLE		0	0	0
CITIGROUP, INC.	COM	172967424	439	9,041	SH		SOLE		0	0	0
CLEAN HARBORS, INC.	COM	184496107	2,366	40,341	SH		SOLE		0	0	0
COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION CLASS A	COM	192446102	382	4,654	SH		SOLE		0	0	0
COMVERSE, INC.	COM	20585P105	3,594	112,476	SH		SOLE		0	0	0
CROCS, INC.	COM	227046109	542	39,840	SH		SOLE		0	0	0
CROWN HOLDINGS, INC.	COM	228368106	570	13,474	SH		SOLE		0	0	0
DELTA AIR LINES, INC.	COM	247361702	469	19,869	SH		SOLE		0	0	0
DESTINATION XL GROUP, INC.	COM	25065K104	3,445	532,464	SH		SOLE		0	0	0
DRESSER-RAND GROUP, INC.	COM	261608103	576	9,225	SH		SOLE		0	0	0
ELECTRONIC ARTS	COM	285512109	6,660	260,680	SH		SOLE		0	0	0
ELLIE MAE, INC.	COM	28849P100	2,215	69,197	SH		SOLE		0	0	0
EMERALD OIL, INC.	COM	29101U209	360	50,000	SH		SOLE		0	0	0
ENCORE CAPITAL GROUP, INC.	COM	292554102	4,375	95,582	SH		SOLE		0	0	0
EXA CORPORATION	COM	300614500	694	44,793	SH		SOLE		0	0	0
FACEBOOK, INC. CLASS A	COM	30303M102	2,756	54,865	SH		SOLE		0	0	0
FEDERAL AGRICULTURAL MORTGAGE CORPORATION CL-C	COM	313148306	4,803	143,899	SH		SOLE		0	0	0
FIESTA RESTAURANT GROUP, INC.	COM	31660B101	1,031	27,387	SH		SOLE		0	0	0
FOSSIL GROUP, INC.	COM	34988V106	1,093	9,406	SH		SOLE		0	0	0
GAMESTOP CORPORATION CLASS A	COM	36467W109	3,067	61,765	SH		SOLE		0	0	0
GANNETT CO., INC.	COM	364730101	7,008	261,596	SH		SOLE		0	0	0
GENWORTH FINANCIAL, INC. CLASS A	COM	37247D106	6,833	533,807	SH		SOLE		0	0	0
GOODRICH PETROLEUM CORPORATION (NEW)	COM	382410405	1,343	55,286	SH		SOLE		0	0	0
GUIDANCE SOFTWARE, INC.	COM	401692108	3,614	398,416	SH		SOLE		0	0	0
HDFC BANK LIMITED ADR	COM	40415F101	607	19,707	SH		SOLE		0	0	0
HERBALIFE LTD.	COM	G4412G101	4,004	57,392	SH		SOLE		0	0	0
HERTZ GLOBAL HOLDINGS, INC.	COM	42805T105	7,857	354,559	SH		SOLE		0	0	0
HOLOGIC, INC.	COM	436440101	523	25,342	SH		SOLE		0	0	0
HORSEHEAD HOLDING CORPORATION	COM	440694305	129	10,360	SH		SOLE		0	0	0
HOVNANIAN K ENTERPRISES, INC. CLASS A	COM	442487203	123	23,494	SH		SOLE		0	0	0
HUNTINGTON BANCSHARES, INC.	COM	446150104	267	32,373	SH		SOLE		0	0	0
ICICI BANK LIMITED ADR	COM	45104G104	713	23,402	SH		SOLE		0	0	0
INCONTACT, INC.	COM	45336E109	6,115	741,228	SH		SOLE		0	0	0
KAPSTONE PAPER AND PACKAGING CORPORATION	COM	48562P103	470	10,990	SH		SOLE		0	0	0
KEY ENERGY SERVICES, INC.	COM	492914106	131	17,998	SH		SOLE		0	0	0
KODIAK OIL & GAS CORPORATION	COM	50015Q100	4,970	412,098	SH		SOLE		0	0	0
LIFELOCK, INC.	COM	53224V100	2,797	188,631	SH		SOLE		0	0	0
LIONBRIDGE TECHNOLOGIES, INC.	COM	536252109	1,590	430,950	SH		SOLE		0	0	0
LIVEPERSON, INC.	COM	538146101	2,365	250,806	SH		SOLE		0	0	0
MASONITE INTERNATIONAL CORPORATION	COM	575385109	2,834	57,915	SH		SOLE		0	0	0
MATRIX SERVICE COMPANY	COM	576853105	295	15,041	SH		SOLE		0	0	0
MEDIA GENERAL, INC. CLASS A	COM	584404107	3,631	254,643	SH		SOLE		0	0	0
MEDIFAST, INC.	COM	58470H101	4,945	183,912	SH		SOLE		0	0	0
MENS WEARHOUSE, INC. (THE)	COM	587118100	426	12,509	SH		SOLE		0	0	0
MERITOR, INC.	COM	59001K100	5,314	676,027	SH		SOLE		0	0	0
MGIC INVESTMENT CORPORATION COMMON STOCK	COM	552848103	2,449	336,399	SH		SOLE		0	0	0
MILLENNIAL MEDIA, INC.	COM	60040N105	94	13,330	SH		SOLE		0	0	0
MONRO MUFFLER BRAKE, INC.	COM	610236101	228	4,911	SH		SOLE		0	0	0
MOVE, INC.	COM	62458M207	15,539	916,152	SH		SOLE		0	0	0
MUELLER WATER PRODUCTS, INC. SERIES A	COM	624758108	324	40,603	SH		SOLE		0	0	0
NELNET, INC. CLASS A	COM	64031N108	252	6,558	SH		SOLE		0	0	0
NEW RESIDENTIAL INVESTMENT CORPORATION	COM	64828T102	3,056	461,633	SH		SOLE		0	0	0
NORTHERN OIL AND GAS, INC.	COM	665531109	5,380	372,833	SH		SOLE		0	0	0
NQ MOBILE, INC. ADR	COM	64118U108	3,857	176,992	SH		SOLE		0	0	0
NU SKIN ENTERPRISES, INC. CLASS A	COM	67018T105	3,566	37,249	SH		SOLE		0	0	0
OASIS PETROLEM, INC.	COM	674215108	3,334	67,860	SH		SOLE		0	0	0
OCWEN FINANCIAL CORPORATION	COM	675746309	7,159	128,362	SH		SOLE		0	0	0
OFFICEMAX, INC.	COM	67622P101	6,265	489,827	SH		SOLE		0	0	0
OWENS CORNING	COM	690742101	5,468	143,971	SH		SOLE		0	0	0
OXFORD IND, INC.	COM	691497309	201	2,964	SH		SOLE		0	0	0
PENSKE AUTOMOTIVE GROUP, INC.	COM	70959W103	224	5,237	SH		SOLE		0	0	0
PERFORMANT FINANCIAL CORPORATION	COM	71377E105	456	41,818	SH		SOLE		0	0	0
PLY GEM HOLDINGS, INC.	COM	72941W100	201	14,353	SH		SOLE		0	0	0
PNC FINANCIAL SERVICES GROUP	COM	693475105	1,133	15,635	SH		SOLE		0	0	0
PROOFPOINT, INC.	COM	743424103	2,137	66,526	SH		SOLE		0	0	0
QUAD / GRAPHICS, INC.	COM	747301109	391	12,870	SH		SOLE		0	0	0
QUINSTREET, INC.	COM	74874Q100	495	52,445	SH		SOLE		0	0	0
RADIAN GROUP, INC.	COM	750236101	1,964	141,002	SH		SOLE		0	0	0
REALOGY HOLDINGS CORPORTION	COM	75605Y106	4,027	93,599	SH		SOLE		0	0	0
REGIONS FINANCIAL CORPORATION	COM	7591EP100	2,468	266,564	SH		SOLE		0	0	0
RENT-A-CENTER, INC.	COM	76009N100	2,184	57,296	SH		SOLE		0	0	0
RESPONSYS, INC.	COM	761248103	7,841	474,637	SH		SOLE		0	0	0
ROCK-TENN COMPANY CLASS A	COM	772739207	214	2,111	SH		SOLE		0	0	0
RPM INTERNATIONAL, INC.	COM	749685103	1,883	52,009	SH		SOLE		0	0	0
SALEM COMMUNICATIONS CLASS A	COM	794093104	4,907	592,665	SH		SOLE		0	0	0
SALIX PHARMACEUTICALS, LTD.	COM	795435106	336	5,026	SH		SOLE		0	0	0
SEAGATE TECHNOLOGY PLC	COM	G7945M107	1,537	35,132	SH		SOLE		0	0	0
SHOE CARNIVAL, INC.	COM	824889109	3,137	116,136	SH		SOLE		0	0	0
SIGNET JEWELERS LIMITED	COM	G81276100	976	13,623	SH		SOLE		0	0	0
SLM CORPORATION	COM	78442P106	805	32,345	SH		SOLE		0	0	0
STAMPS.COM, INC.	COM	852857200	1,874	40,801	SH		SOLE		0	0	0
STANDARD PACIFIC CORPORATION NEW	COM	85375C101	221	27,946	SH		SOLE		0	0	0
SUNCOR ENERGY, INC.	COM	867224107	1,386	38,737	SH		SOLE		0	0	0
TENNECO, INC.	COM	880349105	974	19,289	SH		SOLE		0	0	0
THE ACTIVE NETWORK, INC.	COM	00506D100	1,238	86,542	SH		SOLE		0	0	0
THE GOODYEAR TIRE & RUBBER COMPANY	COM	382550101	7,834	348,945	SH		SOLE		0	0	0
THE HOWARD HUGHES CORPORATION	COM	44267D107	3,902	34,721	SH		SOLE		0	0	0
THERAVANCE, INC.	COM	88338T104	2,637	64,528	SH		SOLE		0	0	0
TRONOX LIMITED CLASS A	COM	Q9235V101	1,803	73,685	SH		SOLE		0	0	0
TUESDAY MORNING CORPORATION	COM	899035505	5,533	362,100	SH		SOLE		0	0	0
UNISYS CORPORATION	COM	909214306	4,737	188,048	SH		SOLE		0	0	0
UNITED ONLINE, INC.	COM	911268100	139	17,482	SH		SOLE		0	0	0
US AIRWAYS GROUP, INC.	COM	90341W108	498	26,244	SH		SOLE		0	0	0
VALASSIS COMMUNICATIONS, INC.	COM	918866104	1,041	36,029	SH		SOLE		0	0	0
VIRTUSA CORPORATION	COM	92827P102	767	26,379	SH		SOLE		0	0	0
VITACOST.COM, INC. CLASS	COM	92847A200	430	50,622	SH		SOLE		0	0	0
VOCUS, INC.	COM	92858J108	3,015	323,840	SH		SOLE		0	0	0
WALGREEN CO.	COM	931422109	299	5,554	SH		SOLE		0	0	0
WALTER ENERGY, INC.	COM	93317Q105	3,162	225,348	SH		SOLE		0	0	0
WEB.COM GROUP, INC.	COM	94733A104	9,977	308,413	SH		SOLE		0	0	0
WHIRLPOOL CORPORATION	COM	963320106	1,311	8,953	SH		SOLE		0	0	0
WHITING PETROLEUM CORPORATION	COM	966387102	8,063	134,713	SH		SOLE		0	0	0
XPO LOGISTICS, INC.	COM	983793100	732	33,787	SH		SOLE		0	0	0
ZALE CORPORATION (NEW)	COM	988858106	15,723	1,034,439	SH		SOLE		0	0	0
ZIX CORPORATION	COM	98974P100	3,066	625,772	SH		SOLE		0	0	0