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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
-1.12%
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
$2.84B
AUM Growth
-$331M
Cap. Flow
-$98.6M
Cap. Flow %
-3.47%
Top 10 Hldgs %
46.08%
Holding
156
New
25
Increased
37
Reduced
37
Closed
20

Top Buys

Rank Stock Value
1
PAYA
Paya Holdings Inc. Class A Common Stock
PAYA
+$18.8M
2
QURE icon
uniQure
QURE
+$17.3M
3
SC
SANTANDER CONSUMER USA HOLDINGS INC
SC
+$16.6M
4
SMLR
Semler Scientific
SMLR
+$15M
5
RMR icon
The RMR Group
RMR
+$11.7M

Top Sells

Rank Stock Value
1
QADA
QAD Inc.
QADA
+$81M
2
VG
Vonage Holdings Corporation
VG
+$47.8M
3
CDXS icon
Codexis
CDXS
+$17.6M
4
CASH icon
Pathward Financial
CASH
+$15.3M
5
IWM icon
iShares Russell 2000 ETF
IWM
+$12.9M

Sector Composition

Rank Sector Weight
1 Healthcare 27.36%
2 Consumer Discretionary 9.53%
3 Financials 4.77%
4 Industrials 4.39%
5 Technology 3.3%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PTON icon
26
CALL
Peloton Interactive
PTON
$2.4B
$32.2M 1.13%
900,000
+700,000
+350% +$42.7M
APEN
27
DELISTED
Apollo Endosurgery, Inc.
APEN
$31.7M 1.12%
3,761,783
+1,247,455
+50% +$10.9M
DXPE icon
28
DXP Enterprises
DXPE
$3.05B
$31.4M 1.1%
1,223,258
+47,452
+4% +$1.44M
CUE icon
29
Cue Biopharma
CUE
$106M
$28.7M 1.01%
84,657
-1,046
-1% -$405K
ALTG icon
30
Alta Equipment Group
ALTG
$236M
$28.5M 1%
1,946,541
+6,459
+0.3% +$94.8K
IMXI icon
31
International Money Express
IMXI
$354M
$25.7M 0.9%
1,611,488
+77,828
+5% +$1.26M
SMLR
32
DELISTED
Semler Scientific
SMLR
$25.6M 0.9%
279,085
+133,666
+92% +$15M
PAYA
33
DELISTED
Paya Holdings Inc. Class A Common Stock
PAYA
$24.1M 0.85%
3,799,961
+2,318,865
+157% +$18.8M
DHX icon
34
DHI Group
DHX
$161M
$23.3M 0.82%
3,726,184
+350,578
+10% +$1.86M
FBIO icon
35
Fortress Biotech
FBIO
$89.7M
$22.7M 0.8%
605,734
+63,014
+12% +$2.81M
AUTL
36
Autolus Therapeutics
AUTL
$564M
$21.2M 0.74%
4,077,509
+1,140,718
+39% +$6.85M
DRIO icon
37
DarioHealth
DRIO
$73.7M
$18.3M 0.64%
70,584
+17,408
+33% +$5.29M
TSHA icon
38
Taysha Gene Therapies
TSHA
$1.86B
$17M 0.6%
1,456,147
+206,838
+17% +$3.12M
SC
39
DELISTED
SANTANDER CONSUMER USA HOLDINGS INC
SC
$16.6M 0.58%
+395,176
New +$16.6M
VRM icon
40
CALL
Vroom Inc
VRM
$51.3M
$16.2M 0.57%
+18,750
New +$25.3M
BBQ
41
DELISTED
BBQ Holdings, Inc. Common Stock
BBQ
$15.8M 0.56%
1,000,000
– –
SWAV
42
PUT
DELISTED
Shockwave Medical, Inc. Common Stock
SWAV
$14.3M 0.5%
+80,000
New +$15.8M
RDI icon
43
Reading International Class A
RDI
$34.8M
$14M 0.49%
3,475,832
+5,517
+0.2% +$25.7K
SFT
44
DELISTED
Shift Technologies, Inc. Class A Common Stock
SFT
$14M 0.49%
411,694
-35,728
-8% -$1.96M
SYRE icon
45
Spyre Therapeutics
SYRE
$9.24B
$13.4M 0.47%
112,542
+51,864
+85% +$8.19M
AVTX icon
46
Avalo Therapeutics
AVTX
$1.04B
$12.1M 0.43%
2,481
+67
+3% +$402K
HLGN
47
DELISTED
Heliogen, Inc.
HLGN
$12M 0.42%
22,143
+7,869
+55% +$2.76M
STR
48
DELISTED
Sitio Royalties
STR
$11.6M 0.41%
593,677
-30,051
-5% -$641K
CRIS icon
49
Curis
CRIS
$7.35M
$11.4M 0.4%
5,979
-177
-3% -$421K
HLF icon
50
CALL
Herbalife
HLF
$1.22B
$11.4M 0.4%
278,000
– –
1
2
3 4 5

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Nantahala Capital Management's Q4 2021 Portfolio in Review

As of Q4 2021, Nantahala Capital Management held 156 positions worth $2.84B, down 10% from $3.17B the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Nantahala Capital Management withdrew a net $98.6M in Q4 2021, closing 20 positions and reducing 37 holdings. Its most notable exit was QAD Inc., an estimated $81M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 27% of assets, up from 24% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Nantahala Capital Management opened a new position in SANTANDER CONSUMER USA HOLDINGS INC worth $16.6M.

  • Nantahala Capital Management's largest Q4 2021 buy was SANTANDER CONSUMER USA HOLDINGS INC: 395,176 shares worth $16.6M.
  • Nantahala Capital Management added most to Paya Holdings Inc. Class A Common Stock in Q4 2021, an estimated $18.8M increase.
  • Nantahala Capital Management's biggest Q4 2021 reduction was Codexis, cutting an estimated $17.6M.
  • Nantahala Capital Management fully exited QAD Inc. in Q4 2021, selling an estimated $81M.
  • Nantahala Capital Management's ten largest holdings make up 46% of its $2.84B portfolio in Q4 2021.
  • Nantahala Capital Management opened 25 new positions and closed 20 in Q4 2021.
  • Nantahala Capital Management's portfolio value fell 10% quarter-over-quarter to $2.84B.

Based on Nantahala Capital Management's 13F filing for Q4 2021, filed 14 Feb 2022.