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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
+9.25%
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
$3.27B
AUM Growth
-$46.7M
Cap. Flow
-$431M
Cap. Flow %
-13.18%
Top 10 Hldgs %
56.15%
Holding
134
New
19
Increased
35
Reduced
23
Closed
20

Top Buys

Rank Stock Value
1
BMY.RT
Bristol-Myers Squibb Company Contingent Value Rights
BMY.RT
+$44.1M
2
FCFS icon
FirstCash
FCFS
+$26.4M
3
SNDX icon
Syndax Pharmaceuticals
SNDX
+$20.4M
4
FTIVU
FinTech Acquisition Corp. IV Unit
FTIVU
+$20M
5
AKU
Akumin Inc
AKU
+$17.2M

Top Sells

Rank Stock Value
1
RH icon
RH
RH
+$39.3M
2
MED icon
Medifast
MED
+$37.9M
3
THC icon
Tenet Healthcare
THC
+$37.4M
4
HCA icon
HCA Healthcare
HCA
+$30.4M
5
IWM icon
iShares Russell 2000 ETF
IWM
+$22.3M

Sector Composition

Rank Sector Weight
1 Healthcare 17.92%
2 Consumer Discretionary 6.06%
3 Industrials 4.77%
4 Technology 4.5%
5 Financials 3.84%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IMTX icon
26
Immatics
IMTX
$1.33B
$27M 0.82%
2,622,164
+1,510,077
+136% +$15.9M
TA
27
DELISTED
TravelCenters of America LLC
TA
$25.4M 0.78%
1,298,740
+961,350
+285% +$16.5M
FCFS icon
28
FirstCash
FCFS
$9.05B
$24.7M 0.76%
+431,569
New +$26.4M
DXPE icon
29
DXP Enterprises
DXPE
$2.99B
$24.2M 0.74%
1,500,559
-98,923
-6% -$1.83M
TBBK icon
30
The Bancorp
TBBK
$2.81B
$22.7M 0.69%
2,623,939
– –
WRLD icon
31
World Acceptance Corp
WRLD
$871M
$22.4M 0.68%
212,042
-158,427
-43% -$13.2M
SYRE icon
32
Spyre Therapeutics
SYRE
$9.29B
$22.1M 0.68%
124,937
-3,256
-3% -$602K
PENN icon
33
PUT
PENN Entertainment
PENN
$2.53B
$21.8M 0.67%
300,000
– –
WVE icon
34
Wave Life Sciences
WVE
$1.2B
$20.2M 0.62%
2,378,426
+630,747
+36% +$6.91M
SNDX icon
35
Syndax Pharmaceuticals
SNDX
$1.82B
$19.8M 0.6%
+1,338,691
New +$20.4M
THC icon
36
Tenet Healthcare
THC
$20.9B
$19.2M 0.59%
782,225
-1,462,899
-65% -$37.4M
ALTG icon
37
Alta Equipment Group
ALTG
$237M
$19.1M 0.59%
2,445,524
+9,637
+0.4% +$76.5K
BDSI
38
DELISTED
BioDelivery Sciences International, Inc.
BDSI
$18.9M 0.58%
5,065,955
+62,324
+1% +$265K
HCA icon
39
PUT
HCA Healthcare
HCA
$89.6B
$18.7M 0.57%
150,000
– –
SLNO
40
DELISTED
Soleno Therapeutics
SLNO
$18.6M 0.57%
495,091
– –
AKU
41
DELISTED
Akumin Inc
AKU
$18.5M 0.57%
+5,683,712
New +$17.2M
UPLD icon
42
Upland Software
UPLD
$14.5M
$18M 0.55%
47,852
-4,543
-9% -$1.64M
CAR icon
43
CALL
Avis
CAR
$4.9B
$17.3M 0.53%
657,700
– –
INAQU
44
DELISTED
INSU Acquisition Corp. II Unit
INAQU
$16.3M 0.5%
+1,575,000
New +$16.6M
EHTH icon
45
eHealth
EHTH
$40.4M
$15.4M 0.47%
195,000
+164,151
+532% +$13.3M
EXAS
46
PUT
DELISTED
Exact Sciences
EXAS
$15.3M 0.47%
150,000
– –
FRG
47
DELISTED
Franchise Group, Inc.
FRG
$15.2M 0.46%
598,334
-559,631
-48% -$13.4M
JYNT icon
48
The Joint Corp
JYNT
$123M
$14.8M 0.45%
848,881
– –
CRHM
49
DELISTED
CRH Medical Corporation
CRHM
$14.7M 0.45%
6,777,905
– –
SFT
50
DELISTED
Shift Technologies, Inc. Class A Common Stock
SFT
$14.5M 0.44%
+122,554
New +$14.7M
1
2
3 4 5

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Nantahala Capital Management's Q3 2020 Portfolio in Review

As of Q3 2020, Nantahala Capital Management held 134 positions worth $3.27B, down 1.4% from $3.32B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Nantahala Capital Management withdrew a net $431M in Q3 2020, closing 20 positions and reducing 23 holdings. Its most notable exit was RH, an estimated $39.3M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 18% of assets, down from 19% a quarter earlier, followed by Consumer Discretionary and Industrials.

Against the trend, Nantahala Capital Management opened a new position in Bristol-Myers Squibb Company Contingent Value Rights worth $34.7M.

  • Nantahala Capital Management's largest Q3 2020 buy was Bristol-Myers Squibb Company Contingent Value Rights: 15,437,336 shares worth $34.7M.
  • Nantahala Capital Management added most to TravelCenters of America LLC in Q3 2020, an estimated $16.5M increase.
  • Nantahala Capital Management's biggest Q3 2020 reduction was Tenet Healthcare, cutting an estimated $37.4M.
  • Nantahala Capital Management fully exited RH in Q3 2020, selling an estimated $39.3M.
  • Nantahala Capital Management's ten largest holdings make up 56% of its $3.27B portfolio in Q3 2020.
  • Nantahala Capital Management opened 19 new positions and closed 20 in Q3 2020.
  • Nantahala Capital Management's portfolio value fell 1.4% quarter-over-quarter to $3.27B.

Based on Nantahala Capital Management's 13F filing for Q3 2020, filed 16 Nov 2020.