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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
-8.78%
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
$2.7B
AUM Growth
-$549M
(-17%)
Cap. Flow
-$199M
Cap. Flow
% of AUM
-7.38%
Top 10 Holdings %
Top 10 Hldgs %
45.84%
Holding
103
New
10
Increased
23
Reduced
17
Closed
11
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
uniQure
QURE
|
+$30.4M |
| 2 |
Wayfair
W
|
+$15.6M |
| 3 |
Medifast
MED
|
+$13M |
| 4 |
AGS
PlayAGS
AGS
|
+$12.8M |
| 5 |
Viemed Healthcare
VMD
|
+$9.98M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
World Acceptance Corp
WRLD
|
+$48.9M |
| 2 |
Carvana
CVNA
|
+$47M |
| 3 |
RH
RH
|
+$35.5M |
| 4 |
Spectrum Brands
SPB
|
+$22.5M |
| 5 |
Tenet Healthcare
THC
|
+$10M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 17.42% |
| 2 | Consumer Discretionary | 10.23% |
| 3 | Financials | 6.46% |
| 4 | Industrials | 5.76% |
| 5 | Technology | 5.29% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Dolby
DLB
$5.79B
| $33.7M | 1.25% |
521,693
+75,000
| +17% | +$4.72M |
|
|
GDEN
27
DELISTED
Golden Entertainment
GDEN
| $32.6M | 1.21% |
2,449,713
| – | – |
|
28
International Money Express
IMXI
$367M
| $30.9M | 1.15% |
2,251,010
-681,936
| -23% | -$9.54M |
|
|
LNW
29
DELISTED
Light & Wonder
LNW
| $29.2M | 1.08% |
1,437,167
+237,382
| +20% | +$4.68M |
|
30
The Bancorp
TBBK
$2.84B
| $26.9M | 1% |
2,714,238
| – | – |
|
31
Akebia Therapeutics
AKBA
$252M
| $22.7M | 0.84% |
5,789,561
| – | – |
|
32
Spyre Therapeutics
SYRE
$9.25B
| $21.9M | 0.81% |
114,090
| – | – |
|
|
ONDK
33
DELISTED
On Deck Capital, Inc.
ONDK
| $21.5M | 0.79% |
6,384,602
+69,899
| +1% | +$249K |
|
|
ENT
34
DELISTED
Global Eagle Entertainment Inc.
ENT
| $20.8M | 0.77% |
1,153,435
| – | – |
|
|
BDSI
35
DELISTED
BioDelivery Sciences International, Inc.
BDSI
| $20.4M | 0.76% |
4,846,167
+260,900
| +6% | +$1.11M |
|
|
CRHM
36
DELISTED
CRH Medical Corporation
CRHM
| $20.1M | 0.74% |
6,534,155
+250,000
| +4% | +$742K |
|
37
DHI Group
DHX
$173M
| $19.2M | 0.71% |
4,998,075
+188,822
| +4% | +$701K |
|
|
HTZ
38
CALL
DELISTED
Hertz Global Holdings, Inc.
HTZ
| $18.6M | 0.69% |
1,341,700
+500,000
| +59% | +$7.04M |
|
|
AABA
39
DELISTED
Altaba Inc
AABA
| $17.2M | 0.64% |
883,464
| – | – |
|
|
CURO
40
DELISTED
CURO Group Holdings Corp.
CURO
| $16.3M | 0.61% |
1,229,332
-400,578
| -25% | -$5.12M |
|
41
RadNet
RDNT
$5.69B
| $16.2M | 0.6% |
1,129,814
| – | – |
|
42
Establishment Labs
ESTA
$2.28B
| $16.1M | 0.6% |
851,922
+59,318
| +7% | +$1.28M |
|
43
The Joint Corp
JYNT
$119M
| $15.8M | 0.59% |
848,881
-36,888
| -4% | -$683K |
|
|
XELA
44
DELISTED
Exela Technologies, Inc. Common Stock
XELA
| $15.1M | 0.56% |
1,065
| – | – |
|
45
PAR Technology
PAR
$735M
| $14.9M | 0.55% |
628,017
+27,718
| +5% | +$676K |
|
|
46
Medifast
MED
$141M
| $12.6M | 0.47% |
+121,407
| New | +$13M |
|
47
Cue Biopharma
CUE
$114M
| $11.6M | 0.43% |
45,940
| – | – |
|
|
STR
48
DELISTED
Sitio Royalties
STR
| $11.6M | 0.43% |
504,474
| – | – |
|
|
AFI
49
DELISTED
Armstrong Flooring, Inc.
AFI
| $10.5M | 0.39% |
1,637,724
-526,625
| -24% | -$4.11M |
|
|
HTZ
50
DELISTED
Hertz Global Holdings, Inc.
HTZ
| $10.4M | 0.39% |
751,995
+311,995
| +71% | +$4.4M |
|
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Nantahala Capital Management's Q3 2019 Portfolio in Review
As of Q3 2019, Nantahala Capital Management held 103 positions worth $2.7B, down 17% from $3.25B the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Nantahala Capital Management withdrew a net $199M in Q3 2019, closing 11 positions and reducing 17 holdings. Its most notable exit was Spectrum Brands, an estimated $22.5M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 17% of assets, down from 18% a quarter earlier, followed by Consumer Discretionary and Financials.
Against the trend, Nantahala Capital Management opened a new position in Medifast worth $12.6M.
- Nantahala Capital Management's largest Q3 2019 buy was Medifast: 121,407 shares worth $12.6M.
- Nantahala Capital Management added most to uniQure in Q3 2019, an estimated $30.4M increase.
- Nantahala Capital Management's biggest Q3 2019 reduction was World Acceptance Corp, cutting an estimated $48.9M.
- Nantahala Capital Management fully exited Spectrum Brands in Q3 2019, selling an estimated $22.5M.
- Nantahala Capital Management's ten largest holdings make up 46% of its $2.7B portfolio in Q3 2019.
- Nantahala Capital Management opened 10 new positions and closed 11 in Q3 2019.
- Nantahala Capital Management's portfolio value fell 17% quarter-over-quarter to $2.7B.
Based on Nantahala Capital Management's 13F filing for Q3 2019, filed 14 Nov 2019.