UNITED STATES
SECURITIES AND EXCHANGE COMISSION
WASHINGTON, D.C. 20549
FORM 13F
FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: September 30, 2011
Check here if Amendment []; Amendment Number:

This Amendment:		[] is a restatement
			[] adds new holdings entries

Institutional Money Manager Filing the Report:
			Name:			Lapides Asset Management, LLC
			Address:		500 West Putnam Avenue
						4th Floor
						Greenwich, CT 06830
			13F File Number:	028-12084

The institutional investment manager filing this report and 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 it is understood that all required items,
statements, schedules, lists, and tables, are considered integral parts of
this submission.

Person Signing this Report on Behalf of Reporting Manager:

Name:			Anne Selkovits
Title:			Compliance Associate
Phone:			203-422-7202
Signature,		Place,			and Date of Signing,
Anne Selkovits		Greenwich, CT		November 9, 2011
Report Type:		[X]	13F HOLDINGS REPORT
			[]	13F NOTICE
			[]	13F COMBINATION REPORT
List of Other Managers Reporting for this Manager:


FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers:		0
Form 13F Information Table Entry Total:	88
Form 13F Information Table Value Total:	$605,078

List of Other Included Managers:		0

No. 13F File Number	Name


					
FORM 13F INFORMATION TABLE

								Voting Authority
								--------------------------
			Value	Shares/	Sh/	Put/	Invstmt	Other
Name of Issuer	Title of class	CUSIP	(x$1000)	Prn Amt	Prn	Call	Dscretn	Managers	Sole	Shared	None
------------------------------	----------------	---------	--------	--------	---	----	-------	------------	--------	--------	--------

Aarons Inc	COM	002535300	22930	908100	SH		Sole		834750	0	73350
ABM Industries Inc	COM	000957100	4348	228100	SH		Sole		228100	0	0
Acco Brands Corp	COM	00081t108	3486	730800	SH		Sole		490700	0	240100
Accuray Inc	COM	004397105	5813	1449700	SH		Sole		1008200	0	441500
Acxiom Corp	COM	005125109	8654	813300	SH		Sole		681100	0	132200
AFC Enterprises Inc	COM	00104q107	903	76300	SH		Sole		33700	0	42600
Affiliated Managers Group	COM	008252108	2833	36300	SH		Sole		36300	0	0
Albany Intl Corp Cl A	COM	012348108	2922	160100	SH		Sole		111800	0	48300
Alliance Data Systems Corp	COM	018581108	4153	44800	SH		Sole		44800	0	0
Amdocs Ltd	COM	g02602103	21691	799800	SH		Sole		799800	0	0
American Software Inc Cl A	COM	029683109	2949	406800	SH		Sole		213700	0	193100
Amphenol Corp Cl A	COM	032095101	2887	70800	SH		Sole		70800	0	0
AngioDynamics Inc	COM	03475v101	4048	308100	SH		Sole		216500	0	91600
AptarGroup Inc	COM	038336103	1974	44200	SH		Sole		44200	0	0
Avery Dennison Corp	COM	053611109	4437	176900	SH		Sole		176900	0	0
Avnet Inc	COM	053807103	12717	487600	SH		Sole		487600	0	0
Avon Products Inc	COM	054303102	3130	159700	SH		Sole		159700	0	0
Ball Corp	COM	058498106	11499	370700	SH		Sole		370700	0	0
Bally Technologies Inc	COM	05874b107	13425	497600	SH		Sole		497600	0	0
Belden Inc	COM	077454106	2489	96500	SH		Sole		63300	0	33200
Brady Corp Cl A	COM	104674106	4993	188900	SH		Sole		153100	0	35800
Bridgepoint Education Inc	COM	10807m105	10968	628900	SH		Sole		505900	0	123000
Broadridge Financial Solutions	COM	11133t103	22061	1095400	SH		Sole		1095400	0	0
Buckeye Technologies Inc	COM	118255108	3549	147200	SH		Sole		119100	0	28100
Cabot Microelectronics Corp	COM	12709p103	3074	89400	SH		Sole		66100	0	23300
Checkpoint Systems Inc	COM	162825103	19755	1454700	SH		Sole		1326500	0	128200
Ciber Inc	COM	17163b102	3819	1260300	SH		Sole		878900	0	381400
Consolidated Graphics Inc	COM	209341106	5315	145500	SH		Sole		97300	0	48200
Crown Holdings Inc	COM	228368106	2473	80800	SH		Sole		80800	0	0
CSG Systems Intl Inc	COM	126349109	4765	377000	SH		Sole		258800	0	118200
Diebold Inc	COM	253651103	234	8500	SH		Sole		8500	0	0
Electro Rent Corp	COM	285218103	3131	226700	SH		Sole		157500	0	69200
Euronet Worldwide Inc	COM	298736109	3137	199300	SH		Sole		143400	0	55900
FMC Corp	COM	302491303	4343	62800	SH		Sole		62800	0	0
Gildan Activewear Inc	COM	375916103	8677	335800	SH		Sole		335800	0	0
Harman Intl Industries Inc	COM	413086109	18831	658900	SH		Sole		609500	0	49400
Harsco Corp	COM	415864107	3981	205300	SH		Sole		205300	0	0
Henry Schein Inc	COM	806407102	3547	57200	SH		Sole		57200	0	0
Hill International Inc	COM	431466101	2527	539900	SH		Sole		291700	0	248200
Huron Consulting Group Inc	COM	447462102	4010	128800	SH		Sole		87200	0	41600
Iconix Brand Group Inc	COM	451055107	2240	141800	SH		Sole		57600	0	84200
Insperity Inc	COM	45778q107	12102	543900	SH		Sole		491100	0	52800
Intermec Inc	COM	458786100	5489	841800	SH		Sole		599700	0	242100
ITT Educational Services Inc	COM	45068b109	18823	326900	SH		Sole		326900	0	0
JDA Software Group Inc	COM	46612k108	7426	316800	SH		Sole		265300	0	51500
KAR Auction Services Inc	COM	48238t109	2872	237200	SH		Sole		237200	0	0
Kid Brands Inc	COM	49375t100	2103	796500	SH		Sole		406700	0	389800
Laboratory Corp America Holdin	COM	50540r409	3502	44300	SH		Sole		44300	0	0
Learning Tree Intl Inc	COM	522015106	7423	1004500	SH		Sole		897000	0	107500
Lincoln Educational Services C	COM	533535100	971	120000	SH		Sole		50400	0	69600
Lumber Liquidators Holdings In	COM	55003t107	1311	86800	SH		Sole		34200	0	52600
Maidenform Brands Inc	COM	560305104	4324	184700	SH		Sole		126400	0	58300
McGrath RentCorp	COM	580589109	2488	104600	SH		Sole		69100	0	35500
Measurement Specialties Inc	COM	583421102	3442	132600	SH		Sole		54100	0	78500
Minerals Technologies Inc	COM	603158106	6114	124100	SH		Sole		109200	0	14900
Mobile Mini Inc	COM	60740f105	21902	1332220	SH		Sole		1224320	0	107900
Molex Inc	COM	608554101	11593	569100	SH		Sole		569100	0	0
Monster Worldwide Inc	COM	611742107	20340	2832900	SH		Sole		2591600	0	241300
Nautilus Inc	COM	63910b102	430	286500	SH		Sole		101900	0	184600
NCR Corp	COM	62886e108	7271	430480	SH		Sole		430480	0	0
NeuStar Inc Cl A	COM	64126x201	23870	949500	SH		Sole		949500	0	0
Nutri Systems Inc	COM	67069d108	2587	213600	SH		Sole		141700	0	71900
Old Dominion Freight Lines Inc	COM	679580100	10554	364300	SH		Sole		312850	0	51450
Packaging Corp America	COM	695156109	909	39000	SH		Sole		39000	0	0
Parametric Technology Corp	COM	699173209	15658	1018100	SH		Sole		1018100	0	0
Parexel Intl Corp	COM	699462107	3053	161300	SH		Sole		111000	0	50300
Plantronics Inc	COM	727493108	3181	111800	SH		Sole		83300	0	28500
Regis Corp Minn	COM	758932107	1198	85000	SH		Sole		32400	0	52600
Richardson Electronics Ltd	COM	763165107	1146	84200	SH		Sole		33400	0	50800
Rimage Corp	COM	766721104	2866	226600	SH		Sole		124700	0	101900
Rock-Tenn Co Cl A	COM	772739207	25640	526700	SH		Sole		526700	0	0
Rockwood Holdings Inc	COM	774415103	468	13900	SH		Sole		13900	0	0
Royal Caribbean Cruises Ltd	COM	v7780t103	10842	501000	SH		Sole		501000	0	0
Sally Beauty Holdings Inc	COM	79546e104	5382	324200	SH		Sole		266200	0	58000
SEI Investments Co	COM	784117103	15643	1017100	SH		Sole		1017100	0	0
Solera Holdings Inc	COM	83421a104	485	9600	SH		Sole		9600	0	0
SonoSite Inc	COM	83568g104	8789	289700	SH		Sole		227500	0	62200
Standard Parking Corp	COM	853790103	3518	224926	SH		Sole		150826	0	74100
Summer Infant Inc	COM	865646103	692	104900	SH		Sole		104900	0	0
Tetra Tech Inc	COM	88162g103	5487	292800	SH		Sole		292800	0	0
Transcend Services Inc	COM	893929208	1449	64300	SH		Sole		24000	0	40300
Trex Co Inc	COM	89531p105	3913	244100	SH		Sole		157300	0	86800
United Stationers Inc	COM	913004107	5077	186500	SH		Sole		186500	0	0
Varian Med Systems Inc	COM	92220p105	2285	43800	SH		Sole		43800	0	0
Warnaco Group Inc	COM	934390402	2618	56800	SH		Sole		56800	0	0
Weight Watchers Intl Inc	COM	948626106	9297	159600	SH		Sole		159600	0	0
Western Union Co	COM	959802109	15499	1013700	SH		Sole		1013700	0	0
Zebra Technologies Corp Cl A	COM	989207105	10331	333900	SH		Sole		333900	0	0