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NCM

Nantahala Capital Management Portfolio holdings

AUM $2.72B
1-Year Est. Return 121.58%
This Fund
S&P 500
This Quarter Est. Return
-0.9%
1 Year Est. Return
+121.58%
3 Year Est. Return
+308.64%
5 Year Est. Return
+308.9%
10 Year Est. Return
+2,888.73%
AUM
$2.72B
AUM Growth
-$309M
Cap. Flow
-$128M
Cap. Flow %
-4.71%
Top 10 Hldgs %
40.44%
Holding
175
New
22
Increased
46
Reduced
28
Closed
23

Top Buys

Rank Stock Value
1
PTON icon
Peloton Interactive
PTON
+$29.6M
2
MLYS icon
Mineralys Therapeutics
MLYS
+$22.9M
3
CWH icon
Camping World
CWH
+$22.7M
4
VSTM icon
Verastem
VSTM
+$19.3M
5
TBBK icon
The Bancorp
TBBK
+$18.5M

Top Sells

Rank Stock Value
1
TNGX icon
Tango Therapeutics
TNGX
+$32.3M
2
EB
Eventbrite
EB
+$30.5M
3
IWM icon
iShares Russell 2000 ETF
IWM
+$30.2M
4
RAPT
RAPT Therapeutics
RAPT
+$25.5M
5
GMED icon
Globus Medical
GMED
+$19.6M

Sector Composition

Rank Sector Weight
1 Healthcare 36%
2 Consumer Discretionary 9.68%
3 Financials 3.92%
4 Communication Services 2.8%
5 Industrials 1.76%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SLNO
26
CALL
DELISTED
Soleno Therapeutics
SLNO
$25.1M 0.92%
750,000
+248,000
+49% +$9.72M
FOXF icon
27
Fox Factory Holding Corp
FOXF
$779M
$24.5M 0.9%
1,488,300
-700,000
-32% -$12.7M
MLYS icon
28
Mineralys Therapeutics
MLYS
$2.4B
$24.3M 0.89%
895,481
+782,196
+690% +$22.9M
ZVRA icon
29
Zevra Therapeutics
ZVRA
$574M
$23.5M 0.87%
2,521,936
+750,000
+42% +$6.76M
FULC icon
30
Fulcrum Therapeutics
FULC
$249M
$23.4M 0.86%
3,050,040
-1,243,306
-29% -$11.5M
FOSL icon
31
Fossil Group
FOSL
$249M
$23.3M 0.86%
5,404,024
+339,665
+7% +$1.37M
RDNW
32
RideNow Group
RDNW
$251M
$23.1M 0.85%
3,272,845
– –
ABEO icon
33
Abeona Therapeutics
ABEO
$349M
$22.5M 0.83%
5,013,052
+50,000
+1% +$250K
CWH icon
34
Camping World
CWH
$389M
$22.3M 0.82%
3,259,274
+2,200,732
+208% +$22.7M
ADCT icon
35
ADC Therapeutics
ADCT
$145M
$21M 0.77%
5,597,433
+122,000
+2% +$481K
TITN icon
36
Titan Machinery
TITN
$469M
$21M 0.77%
1,254,520
+34,000
+3% +$590K
HLF icon
37
Herbalife
HLF
$1.26B
$19.9M 0.73%
1,353,653
+471,796
+54% +$7.71M
IMAX icon
38
IMAX
IMAX
$2.47B
$19.6M 0.72%
515,554
+38,462
+8% +$1.43M
VSTM icon
39
Verastem
VSTM
$534M
$19M 0.7%
3,584,820
+3,122,680
+676% +$19.3M
BCRX icon
40
BioCryst Pharmaceuticals
BCRX
$2.43B
$18.9M 0.7%
1,987,397
+631,020
+47% +$4.9M
AVTX icon
41
Avalo Therapeutics
AVTX
$1.03B
$18.4M 0.68%
1,235,000
– –
RMR icon
42
The RMR Group
RMR
$348M
$17.8M 0.65%
1,147,902
– –
RYAM icon
43
Rayonier Advanced Materials
RYAM
$573M
$17.7M 0.65%
1,600,000
-200,000
-11% -$1.8M
ALGN icon
44
CALL
Align Technology
ALGN
$12B
$17.1M 0.63%
100,000
– –
GERN icon
45
Geron
GERN
$949M
$16.7M 0.62%
11,225,000
+2,200,000
+24% +$3.34M
BNTC icon
46
Benitec Biopharma
BNTC
$398M
$15.3M 0.56%
1,438,371
+400,000
+39% +$4.63M
ABVX
47
Abivax
ABVX
$11.2B
$15.3M 0.56%
137,237
-15,998
-10% -$1.89M
ITGR icon
48
Integer Holdings
ITGR
$3.38B
$15.1M 0.56%
172,000
+70,000
+69% +$5.96M
KROS icon
49
Keros Therapeutics
KROS
$202M
$15M 0.55%
1,360,419
+1,000,000
+277% +$15.4M
JACK icon
50
Jack in the Box
JACK
$299M
$14.9M 0.55%
1,542,715
+676,725
+78% +$12M
1
2
3 4 5

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CA
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XL
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MASUI
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BCM
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Nantahala Capital Management's Q1 2026 Portfolio in Review

As of Q1 2026, Nantahala Capital Management held 175 positions worth $2.72B, down 10% from $3.02B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Nantahala Capital Management withdrew a net $128M in Q1 2026, closing 23 positions and reducing 28 holdings. Its most notable exit was Eventbrite, an estimated $30.5M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 36% of assets, up from 34% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Nantahala Capital Management opened a new position in AgomAb Therapeutics NV worth $12.9M.

  • Nantahala Capital Management's largest Q1 2026 buy was AgomAb Therapeutics NV: 1,200,000 shares worth $12.9M.
  • Nantahala Capital Management added most to Peloton Interactive in Q1 2026, an estimated $29.6M increase.
  • Nantahala Capital Management's biggest Q1 2026 reduction was Tango Therapeutics, cutting an estimated $32.3M.
  • Nantahala Capital Management fully exited Eventbrite in Q1 2026, selling an estimated $30.5M.
  • Nantahala Capital Management's ten largest holdings make up 40% of its $2.72B portfolio in Q1 2026.
  • Nantahala Capital Management opened 22 new positions and closed 23 in Q1 2026.
  • Nantahala Capital Management's portfolio value fell 10% quarter-over-quarter to $2.72B.

Based on Nantahala Capital Management's 13F filing for Q1 2026, filed 15 May 2026.