We are live on ! Find out more
NCM

Nantahala Capital Management Portfolio holdings

AUM $2.72B
1-Year Est. Return 121.58%
This Fund
S&P 500
This Quarter Est. Return
+11.54%
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
$3.02B
AUM Growth
+$145M
Cap. Flow
-$41.1M
Cap. Flow %
-1.36%
Top 10 Hldgs %
45.87%
Holding
173
New
19
Increased
36
Reduced
34
Closed
20

Top Buys

Rank Stock Value
1
GOGO icon
Gogo Inc
GOGO
+$49.8M
2
IWM icon
iShares Russell 2000 ETF
IWM
+$28.8M
3
FOXF icon
Fox Factory Holding Corp
FOXF
+$27.8M
4
SLNO
Soleno Therapeutics
SLNO
+$24.7M
5
PTON icon
Peloton Interactive
PTON
+$15.7M

Top Sells

Rank Stock Value
1
ESTA icon
Establishment Labs
ESTA
+$59.5M
2
ABVX
Abivax
ABVX
+$44.1M
3
COGT icon
Cogent Biosciences
COGT
+$35.3M
4
AMRX icon
Amneal Pharmaceuticals
AMRX
+$20.3M
5
IMAX icon
IMAX
IMAX
+$18.1M

Sector Composition

Rank Sector Weight
1 Healthcare 34.48%
2 Consumer Discretionary 8.75%
3 Financials 3.52%
4 Communication Services 3.05%
5 Industrials 1.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ABEO icon
26
Abeona Therapeutics
ABEO
$425M
$26.2M 0.86%
4,963,052
+398,387
+9% +$2.01M
RAPT
27
DELISTED
RAPT Therapeutics
RAPT
$25.5M 0.84%
754,153
+130,871
+21% +$4.06M
GUTS icon
28
Fractyl Health
GUTS
$107M
$23.9M 0.79%
10,846,440
-1,290,477
-11% -$2.08M
SLNO
29
CALL
DELISTED
Soleno Therapeutics
SLNO
$23.2M 0.77%
502,000
+402,000
+402% +$22M
AVTX icon
30
Avalo Therapeutics
AVTX
$1.06B
$22.4M 0.74%
1,235,000
– –
ABVX
31
Abivax
ABVX
$11.1B
$20.7M 0.68%
153,235
-404,329
-73% -$44.1M
ETON icon
32
Eton Pharmaceutcials
ETON
$1.2B
$19.9M 0.66%
1,175,951
– –
GMED icon
33
Globus Medical
GMED
$11.7B
$19.6M 0.65%
224,962
-75,038
-25% -$5.7M
CWH icon
34
CALL
Camping World
CWH
$635M
$19.5M 0.64%
2,000,000
– –
ADCT icon
35
ADC Therapeutics
ADCT
$144M
$19.3M 0.64%
5,475,433
+3,209,144
+142% +$13M
FOSL icon
36
Fossil Group
FOSL
$317M
$19M 0.63%
5,064,359
+1,323,202
+35% +$3.73M
LYV icon
37
PUT
Live Nation Entertainment
LYV
$43B
$18.6M 0.61%
130,300
– –
TITN icon
38
Titan Machinery
TITN
$426M
$18.4M 0.61%
1,220,520
+124,288
+11% +$2M
RDNW
39
RideNow Group
RDNW
$248M
$18.1M 0.6%
3,272,845
– –
IMAX icon
40
IMAX
IMAX
$2.81B
$17.6M 0.58%
477,092
-519,058
-52% -$18.1M
RMR icon
41
The RMR Group
RMR
$335M
$17.1M 0.57%
1,147,902
– –
QURE icon
42
uniQure
QURE
$3.2B
$16.7M 0.55%
699,298
-308,194
-31% -$11.9M
JACK icon
43
Jack in the Box
JACK
$340M
$16.4M 0.54%
865,990
+265,990
+44% +$4.81M
MDXG icon
44
MiMedx Group
MDXG
$622M
$16.4M 0.54%
2,416,389
+949,823
+65% +$6.66M
CRMT icon
45
America's Car Mart
CRMT
$26.1M
$16.3M 0.54%
644,686
– –
ZVRA icon
46
Zevra Therapeutics
ZVRA
$682M
$15.9M 0.52%
1,771,936
-200,000
-10% -$1.89M
ALGN icon
47
CALL
Align Technology
ALGN
$12.5B
$15.6M 0.52%
100,000
– –
DNTH icon
48
Dianthus Therapeutics
DNTH
$6.25B
$15.5M 0.51%
375,000
– –
CHYM
49
CALL
Chime Financial
CHYM
$11.7B
$15.1M 0.5%
+600,000
New +$12.7M
LBRX
50
LB Pharmaceuticals
LBRX
$1.31B
$15M 0.5%
675,000
– –
1
2
3 4 5

Similar funds

TAM
Timucuan Asset Management Jacksonville, Florida $2.72B AUM 4.95% 1-Year Est. Return
XL
XN LP New York $2.72B AUM 46.67% 1-Year Est. Return
NB
Nicolet Bankshares Green Bay, Wisconsin $2.71B AUM 17.55% 1-Year Est. Return
PA
Profund Advisors Bethesda, Maryland $2.72B AUM 47.27% 1-Year Est. Return
BCM
Bowie Capital Management Richardson, Texas $2.71B AUM 5.42% 1-Year Est. Return
SCM
Shaolin Capital Management Miami, Florida $2.71B AUM 64.57% 1-Year Est. Return
HCM
Hollencrest Capital Management Newport Beach, California $2.7B AUM 23.62% 1-Year Est. Return
GC
Giverny Capital Montreal, Quebec, Canada $2.73B AUM 14.09% 1-Year Est. Return

Nantahala Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Nantahala Capital Management held 173 positions worth $3.02B, up 5% from $2.88B the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Nantahala Capital Management's Q4 2025 filing shows 19 new, 36 increased, 34 reduced and 20 closed positions. Its largest new stake was Gogo Inc: 6,792,649 shares worth $31.7M. The largest sale was Establishment Labs, an estimated $59.5M.

By sector, the portfolio is most concentrated in Healthcare at 34% of assets, down from 39% a quarter earlier, followed by Consumer Discretionary and Financials.

  • Nantahala Capital Management's largest Q4 2025 buy was Gogo Inc: 6,792,649 shares worth $31.7M.
  • Nantahala Capital Management added most to Fox Factory Holding Corp in Q4 2025, an estimated $27.8M increase.
  • Nantahala Capital Management's biggest Q4 2025 reduction was Establishment Labs, cutting an estimated $59.5M.
  • Nantahala Capital Management fully exited Palvella Therapeutics in Q4 2025, selling an estimated $15.7M.
  • Nantahala Capital Management's ten largest holdings make up 46% of its $3.02B portfolio in Q4 2025.
  • Nantahala Capital Management opened 19 new positions and closed 20 in Q4 2025.
  • Nantahala Capital Management's portfolio value rose 5% quarter-over-quarter to $3.02B.

Based on Nantahala Capital Management's 13F filing for Q4 2025, filed 13 Feb 2026.