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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
+15.96%
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
$2.33B
AUM Growth
+$352M
Cap. Flow
+$348M
Cap. Flow %
14.93%
Top 10 Hldgs %
55.33%
Holding
157
New
17
Increased
46
Reduced
30
Closed
20

Top Buys

Rank Stock Value
1
HGV icon
Hilton Grand Vacations
HGV
+$38.8M
2
SLNO
Soleno Therapeutics
SLNO
+$34.1M
3
KROS icon
Keros Therapeutics
KROS
+$27.7M
4
SVC
Service Properties Trust
SVC
+$26.2M
5
FOXF icon
Fox Factory Holding Corp
FOXF
+$21.9M

Top Sells

Rank Stock Value
1
ESTA icon
Establishment Labs
ESTA
+$30.7M
2
PTON icon
Peloton Interactive
PTON
+$24.4M
3
PWSC
PowerSchool Holdings, Inc.
PWSC
+$13.3M
4
BKSY icon
BlackSky Technology
BKSY
+$9.19M
5
EGRX
Eagle Pharmaceuticals, Inc.
EGRX
+$8.79M

Sector Composition

Rank Sector Weight
1 Healthcare 38.07%
2 Consumer Discretionary 9.17%
3 Communication Services 4.02%
4 Financials 3.76%
5 Industrials 2.12%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VSTM icon
26
Verastem
VSTM
$615M
$19.4M 0.83%
3,752,583
+19,250
+0.5% +$75.8K
FOXF icon
27
Fox Factory Holding Corp
FOXF
$882M
$19.3M 0.83%
+635,994
New +$21.9M
EHTH icon
28
eHealth
EHTH
$40.4M
$18.9M 0.81%
2,009,500
+97,679
+5% +$542K
RDNW
29
RideNow Group
RDNW
$248M
$17.8M 0.76%
3,274,138
+207,601
+7% +$1.15M
PAYO icon
30
Payoneer
PAYO
$2.4B
$15.4M 0.66%
1,538,600
-577,053
-27% -$5.51M
RDVT icon
31
Red Violet
RDVT
$926M
$15.3M 0.66%
422,466
-30,000
-7% -$999K
ETON icon
32
Eton Pharmaceutcials
ETON
$1.2B
$14.9M 0.64%
1,118,483
+119,750
+12% +$1.21M
BKSY icon
33
BlackSky Technology
BKSY
$1.17B
$14.9M 0.64%
1,377,060
-1,072,940
-44% -$9.19M
URGN icon
34
UroGen Pharma
URGN
$2.26B
$14.6M 0.63%
+1,371,638
New +$16.4M
KROS icon
35
Keros Therapeutics
KROS
$212M
$14.5M 0.62%
915,048
+533,389
+140% +$27.7M
RSVR
36
Reservoir Media
RSVR
$656M
$14.1M 0.61%
1,560,797
– –
CASH icon
37
Pathward Financial
CASH
$1.81B
$14.1M 0.6%
191,343
-72,860
-28% -$5.55M
RZLT icon
38
Rezolute
RZLT
$451M
$14M 0.6%
2,857,982
+280,861
+11% +$1.42M
CDXS icon
39
Codexis
CDXS
$161M
$13.6M 0.58%
2,841,660
-126,148
-4% -$519K
TELA icon
40
TELA Bio
TELA
$41.6M
$11.1M 0.48%
3,679,726
+1,764,600
+92% +$4.96M
TRML
41
DELISTED
Tourmaline Bio
TRML
$10.9M 0.47%
536,944
-163,963
-23% -$4.13M
ELUT icon
42
Elutia
ELUT
$36M
$10.7M 0.46%
2,864,947
– –
BNTC icon
43
Benitec Biopharma
BNTC
$473M
$10.6M 0.45%
838,095
– –
ABVX
44
Abivax
ABVX
$11.1B
$10.5M 0.45%
1,436,047
+450,413
+46% +$4.15M
AURA icon
45
Aura Biosciences
AURA
$796M
$10.4M 0.45%
1,270,035
– –
UPB
46
Upstream Bio Inc
UPB
$405M
$9.86M 0.42%
+600,000
New +$13.4M
IRON icon
47
Disc Medicine
IRON
$3.01B
$9.51M 0.41%
150,000
– –
RMR icon
48
The RMR Group
RMR
$335M
$9.3M 0.4%
450,792
+111,306
+33% +$2.58M
AVR
49
Anteris Technologies
AVR
$872M
$9.3M 0.4%
+1,666,666
New +$9.32M
RDNW
50
CALL
RideNow Group
RDNW
$248M
$9.23M 0.4%
1,700,000
– –
1
2
3 4 5

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Nantahala Capital Management's Q4 2024 Portfolio in Review

As of Q4 2024, Nantahala Capital Management held 157 positions worth $2.33B, up 18% from $1.98B the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Nantahala Capital Management deployed $348M of net new capital in Q4 2024, opening 17 new positions and adding to 46 existing holdings. Its largest new stake was Service Properties Trust: 1,618,380 shares worth $20.6M.

By sector, the portfolio is most concentrated in Healthcare at 38% of assets, down from 41% a quarter earlier, followed by Consumer Discretionary and Communication Services.

On the sell side, the largest reduction was Establishment Labs, an estimated $30.7M trimmed.

  • Nantahala Capital Management's largest Q4 2024 buy was Service Properties Trust: 1,618,380 shares worth $20.6M.
  • Nantahala Capital Management added most to Hilton Grand Vacations in Q4 2024, an estimated $38.8M increase.
  • Nantahala Capital Management's biggest Q4 2024 reduction was Establishment Labs, cutting an estimated $30.7M.
  • Nantahala Capital Management fully exited PowerSchool Holdings, Inc. in Q4 2024, selling an estimated $13.3M.
  • Nantahala Capital Management's ten largest holdings make up 55% of its $2.33B portfolio in Q4 2024.
  • Nantahala Capital Management opened 17 new positions and closed 20 in Q4 2024.
  • Nantahala Capital Management's portfolio value rose 18% quarter-over-quarter to $2.33B.

Based on Nantahala Capital Management's 13F filing for Q4 2024, filed 14 Feb 2025.