13F-HR 1 q11113f.txt PCM 13F 1Q2011 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 31-Mar-11 Check here if Amendment [ ] ; Amendment Number: ________ This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manger Filing this Report: Name: Perkins Capital Management, Inc. Address: 730 East Lake Street, Wayzata, Minnesota 55391 SEC File Number: 801-22888 The institutional investment manager filing this report an the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete,and that is understood that all required items, statements, schedules, lists and tables are considered integral parts of this form. Person signing on this Report on Behalf of Reporting Manager: Name: Richard C. Perkins Title: Executive Vice President/Portfolio Manager Phone: (952) 473-8367 Signature: /s/Richard C. Perkins Place and Date of Signing: 5-Mar-11 Report Type (Check only one.): [ X ] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) TITLE OF VALUE SHARES/ SH/ PUT/ INV OTR VOTING AUTHORITY NAME OF ISSUER CLASS CUSIP x$1000 PRN AMT PRN CALL DISC MGRS SOLE SHRD NONE ABBOTT LABS COM 002824100 901 18375 SH SOLE 8450 9925 ABRAXAS PETE CORP COM 003830106 876 150000 SH SOLE 150000 ACTUANT CORP CLA NEW 00508X203 261 9000 SH SOLE 4000 5000 ACTUATE CORP COM 00508B102 338 65000 SH SOLE 65000 ADDVANTAGE TECH NOLOGIES GP I COM NEW 006743306 247 80000 SH SOLE 80000 ALPHATEC HOLDINGS INC COM 02081G102 1241 459750 SH SOLE 156500 303250 ALTRIA GROUP INC COM 02209S103 371 14250 SH SOLE 10750 3500 AMERICAN WTR WKS CO INC NEW COM 030420103 393 14000 SH SOLE 5900 8100 ANGEION CORP COM 03462H404 150 30000 SH SOLE 30000 ANIMAL HEALTH INTL IN COM 03525N109 210 50000 SH SOLE 50000 APPLIANCE RECY CLING CTRS AME COM NEW 03814F205 3297 843000 SH SOLE 558500 284500 ARRAY BIOPHARMA INC COM 04269X105 1327 433750 SH SOLE 183000 250750 ASPENBIO PHARMA INC COM 045346103 1405 1653326 SH SOLE 1156600 496726 AT&T INC COM 00206R102 267 8707 SH SOLE 4500 4207 ATRICURE INC COM 04963C209 3520 309336 SH SOLE 143358 165978 AVI BIOPHARMA INC COM 002346104 1540 828100 SH SOLE 627800 200300 BAXTER INTL INC COM 071813109 752 13990 SH SOLE 7940 6050 BEMIS INC COM 081437105 1383 42150 SH SOLE 20375 21775 BIOSCRIP INC COM 09069N108 1122 240350 SH SOLE 96350 144000 BLUEPHOENIX SOLUTIONS LTD SHS M20157109 19 10000 SH SOLE 10000 BRIDGELINE DIGITAL INC COM 10807Q205 67 61000 SH SOLE 61000 BRISTOL MYERS SQUIBB CO COM 110122108 1270 48050 SH SOLE 22400 25650 CALIX INC COM 13100M509 707 34803 SH SOLE 5371 29432 CARDICA INC COM 14141R101 2155 605230 SH SOLE 312016 293214 CARDIONET INC COM 14159L103 946 197500 SH SOLE 71250 126250 CARDIOVASCULAR SYS INC DEL COM 141619106 2445 225800 SH SOLE 104000 121800 COLEMAN CABLE INC COM 193459302 1342 151500 SH SOLE 104500 47000 COMPUTER TASK GROUP INC COM 205477102 1515 114000 SH SOLE 100000 14000 CONCEPTUS INC COM 206016107 434 30000 SH SOLE 14400 15600 CORVEL CORP COM 221006109 1599 30066 SH SOLE 16091 13975 CYTORI THERA PEUTICS INC COM 23283K105 4220 539700 SH SOLE 381000 158700 DATALINK CORP COM 237934104 1376 214990 SH SOLE 65250 149740 DDI CORP C.0001N 233162502 159 15000 SH SOLE 15000 DELUXE CORP COM 248019101 1112 41900 SH SOLE 23200 18700 DEXCOM INC COM 252131107 3310 213300 SH SOLE 146000 67300 DIAMOND FOODS INC COM 252603105 2045 36650 SH SOLE 20650 16000 DIGIRAD CORP COM 253827109 768 307100 SH SOLE 92900 214200 DONALDSON INC COM 257651109 2259 36850 SH SOLE 14170 22680 DOT HILL SYS CORP COM 25848T109 3672 1297680 SH SOLE 455806 841874 DYNAMICS RESH CORP COM 268057106 180 11000 SH SOLE 11000 EASTMAN KODAK CO COM 277461109 397 123000 SH SOLE 58500 64500 EBIX INC COM NEW 278715206 1419 60000 SH SOLE 60000 EDAP TMS S A SPN ADR 268311107 175 50000 SH SOLE 50000 ELECTROMED INC COM 285409108 330 100000 SH SOLE 38000 62000 ENDOLOGIX INC COM 29266S106 2916 430019 SH SOLE 194186 235833 EPLUS INC COM 294268107 1197 45000 SH SOLE 33000 12000 EXACT SCIENCES CORP COM 30063P105 562 76600 SH SOLE 66200 10400 FAMOUS DAVES AMER INC COM 307068106 1487 152550 SH SOLE 73800 78750 GENERAL MLS INC COM 370334104 220 6012 SH SOLE 2812 3200 GENMARK DIAG NOSTICS INC COM 372309104 132 33000 SH SOLE 17000 16000 GENUINE PARTS CO COM 372460105 412 7675 SH SOLE 4275 3400 GLAXOSMITH KLINE PLC SPN ADR 37733W105 430 11200 SH SOLE 4950 6250 GLOBAL TRAFFIC NETWORK INC COM 37947B103 1570 125891 SH SOLE 43141 82750 GLOBECOMM SYSTEMS INC COM 37956X103 1848 149908 SH SOLE 44119 105789 GRAINGER W W INC COM 384802104 847 6152 SH SOLE 2852 3300 GRANITE CITY FOOD & BREWERY COM NEW 38724Q404 192 50415 SH SOLE 8666 41749 HANSEN MEDICAL INC COM 411307101 1993 901799 SH SOLE 440000 461799 HEALTH CARE REIT INC COM 42217K106 513 9775 SH SOLE 5975 3800 HEALTH STREAM INC COM 42222N103 410 53100 SH SOLE 17600 35500 HOLOGIC INC COM 436440101 249 11200 SH SOLE 7700 3500 ICAD INC COM 44934S107 270 200000 SH SOLE 200000 IKANOS COMMUNI CATIONS COM 45173E105 21 18000 SH SOLE 18000 ILLUMINA INC COM 452327109 1613 23025 SH SOLE 15375 7650 INCONTACT INC COM 45336E109 668 203000 SH SOLE 82000 121000 INFUSYSTEM HLDGS INC COM 45685K102 851 315000 SH SOLE 235000 80000 INNER WORKINGS INC COM 45773Y105 480 65000 SH SOLE 65000 INSIGNIA SYS INC COM 45765Y105 2999 421767 SH SOLE 250000 171767 INTEGRAMED AMER INC COM NEW 45810N302 3631 351800 SH SOLE 179800 172000 INTERNATIONAL BUSINESS MACHS COM 459200101 757 4644 SH SOLE 1839 2805 INVENTURE FOODS INC COM 461212102 487 126500 SH SOLE 104000 22500 ISIS PHARMA CEUTICALS INC COM 464330109 1649 182450 SH SOLE 127800 54650 JOHNSON & JOHNSON COM 478160104 647 10915 SH SOLE 5290 5625 KIPS BAY MED INC COM 49726K105 279 44300 SH SOLE 28000 16300 LAKES ENTMNT INC COM 51206P109 210 77700 SH SOLE 62000 15700 LIFE TIME FITNESS INC COM 53217R207 504 13500 SH SOLE 5700 7800 LILLY ELI & CO COM 532457108 1001 28450 SH SOLE 13000 15450 LINCOLN EDL SVCS CORP COM 533535100 159 10000 SH SOLE 10000 MANPOWER INC COM 56418H100 817 12990 SH SOLE 4840 8150 MATERION CORP COM 576690101 463 11350 SH SOLE 8350 3000 MEDTOX SCIEN TIFIC INC COM NEW 584977201 1378 84000 SH SOLE 30000 54000 MEDTRONIC INC COM 585055106 734 18650 SH SOLE 9426 9224 METROPOLITAN HEALTH NETWRKS COM 592142103 473 100000 SH SOLE 100000 MIDWAY GOLD CORP COM 598153104 135 75000 SH SOLE 75000 MOLSON COORS BREWING CO CL B 60871R209 914 19500 SH SOLE 7150 12350 MOVE INC COM COM 62458M108 179 75000 SH SOLE 34000 41000 MULTIBAND CORP COM NEW 62544X209 186 40000 SH SOLE 40000 NAVARRE CORP COM 639208107 2157 1135000 SH SOLE 323500 811500 NETSCOUT SYS INC COM 64115T104 1113 40750 SH SOLE 34250 6500 NORTECH SYS INC COM 656553104 186 45500 SH SOLE 32500 13000 NOVAMED INC DEL COM NEW 66986W207 363 27500 SH SOLE 27500 OCULUS INNOVA TIVE SCIENCES COM 67575P108 1298 645640 SH SOLE 289233 356407 ONCOTHYREON INC COM 682324108 2797 722765 SH SOLE 500649 222116 ORION ENERGY SYSTEMS INC COM 686275108 1358 336654 SH SOLE 128250 208404 ORTHOVITA INC COM 68750U102 3287 1543364 SH SOLE 829703 713661 OSHKOSH CORP COM 688239201 204 5778 SH SOLE 4528 1250 OWENS CORNING NEW COM 690742101 655 18200 SH SOLE 8000 10200 PATTERSON COM PANIES INC COM 703395103 1428 44350 SH SOLE 16000 28350 PENTAIR INC COM 709631105 794 21017 SH SOLE 10767 10250 PETROLEUM DEV CORP COM 716578109 432 9000 SH SOLE 6000 3000 PFIZER INC COM 717081103 1801 88681 SH SOLE 25741 62940 PFSWEB INC COM NEW 717098206 374 75000 SH SOLE 75000 PHYSICANS FOR MULA HLDGS INC COM 719427106 280 60000 SH SOLE 60000 PLANAR SYS INC COM 726900103 112 41000 SH SOLE 40000 1000 POLYMET MINING CORP COM 731916102 126 63500 SH SOLE 63500 RADNET INC COM 750491102 350 100000 SH SOLE 100000 RAINMAKER SYSTEMS COM NEW 750875304 919 712134 SH SOLE 301538 410596 RAMTRON INTL CORP COM NEW 751907304 569 263591 SH SOLE 117679 145912 RCM TECH NOLOGIES INC COM NEW 749360400 780 153250 SH SOLE 107750 45500 REAL GOODS SOLAR INC CL A 75601N104 73 27700 SH SOLE 5250 22450 RIMAGE CORP COM 766721104 487 30150 SH SOLE 19950 10200 ROCKWELL MEDICAL TECH COM 774374102 3827 226100 SH SOLE 35000 191100 ROSETTA GENOMICS LTD SHS M82183100 881 1662000 SH SOLE 632000 1030000 RTI BIO LOGICS INC COM 74975N105 729 255050 SH SOLE 82750 172300 SANOFI AVENTIS SPN ADR 80105N105 336 9550 SH SOLE 4650 4900 SMUCKER J M CO COM NEW 832696405 701 9825 SH SOLE 5000 4825 SOLTA MED INC COM 83438K103 385 116750 SH SOLE 59750 57000 SPAN AMER MED SYS INC COM 846396109 233 15000 SH SOLE 15000 ST JUDE MED INC COM 790849103 3952 77088 SH SOLE 11000 66088 STAAR SURGICAL CO CMPR.01 852312305 3134 562600 SH SOLE 363600 199000 SUMMER INFANT INC COM 865646103 556 69500 SH SOLE 53000 16500 SUPERCONDUCTOR TECHNOLOGIES COM NEW 867931305 305 102000 SH SOLE 100000 2000 SUPERVALU INC COM 868536103 1470 164600 SH SOLE 93650 70950 SWORDFISH FINAN CIAL INC COM 871105102 87 51190 SH SOLE 40000 11190 SYNERGETICS USA INC COM 87160G107 1275 216500 SH SOLE 129000 87500 SYNOVIS LIFE TECHNOLOGIES COM 87162G105 6284 328000 SH SOLE 208750 119250 TARGET CORP COM 87612E106 210 4200 SH SOLE 4200 TCF FINL CORP COM 872275102 1005 63350 SH SOLE 24400 38950 TENGION INC COM 88034G109 721 282685 SH SOLE 159009 123676 TEREX CORP NEW COM 880779103 815 22000 SH SOLE 11250 10750 TOREADOR RES CORP COM 891050106 108 10000 SH SOLE 10000 TRANS1 INC COM 89385X105 2575 596063 SH SOLE 320063 276000 UNIFY CORP COM NEW 904743200 124 45000 SH SOLE 45000 UNITEDHEALTH GROUP INC COM 91324P102 1080 23900 SH SOLE 7300 16600 UQM TECH NOLOGIES INC COM 903213106 170 57000 SH SOLE 26750 30250 UROLOGIX INC COM 917273104 2387 3789116 SH SOLE 2634866 1154250 UROPLASTY INC COM NEW 917277204 7044 1065620 SH SOLE 545509 520111 U.S. AUTO PARTS NETWORK INC COM 90343C100 2501 287475 SH SOLE 142975 144500 US BANCORP DEL COM 902973304 653 24708 SH SOLE 11048 13660 U S PHYSICAL THERAPY INC COM 90337L108 1755 78550 SH SOLE 47000 31550 USEC INC PUT 90333E958 442 100500 SH SOLE 76500 24000 VERIZON COMMUNI CATIONS INC COM 92343V104 274 7113 SH SOLE 2730 4383 VERMILLION INC COM NEW 92407M206 184 40000 SH SOLE 12000 28000 VITAL IMAGES INC COM 92846N104 6265 463761 SH SOLE 164919 298842 VOYAGER OIL & GAS INC COM 92911K100 1462 332203 SH SOLE 218600 113603 WIRELESS RONIN TECHNOLOGIES COM 97652A203 3364 2607249 SH SOLE 1066238 1541011 ZIX CORP COM 98974P100 8398 2269921 SH SOLE 991505 1278416 TOTAL VALUE 36667731 DATA RECORDS 146 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED 0