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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
-0.9%
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
$2.72B
AUM Growth
-$309M
Cap. Flow
-$128M
Cap. Flow %
-4.71%
Top 10 Hldgs %
40.44%
Holding
175
New
22
Increased
46
Reduced
28
Closed
23

Top Buys

Rank Stock Value
1
PTON icon
Peloton Interactive
PTON
+$29.6M
2
MLYS icon
Mineralys Therapeutics
MLYS
+$22.9M
3
CWH icon
Camping World
CWH
+$22.7M
4
VSTM icon
Verastem
VSTM
+$19.3M
5
TBBK icon
The Bancorp
TBBK
+$18.5M

Top Sells

Rank Stock Value
1
TNGX icon
Tango Therapeutics
TNGX
+$32.3M
2
EB
Eventbrite
EB
+$30.5M
3
IWM icon
iShares Russell 2000 ETF
IWM
+$30.2M
4
RAPT
RAPT Therapeutics
RAPT
+$25.5M
5
GMED icon
Globus Medical
GMED
+$19.6M

Sector Composition

Rank Sector Weight
1 Healthcare 36%
2 Consumer Discretionary 9.68%
3 Financials 3.92%
4 Communication Services 2.8%
5 Industrials 1.76%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JCAP
51
Jefferson Capital
JCAP
$1.26B
$14.4M 0.53%
750,000
+150,000
+25% +$3.17M
AURA icon
52
Aura Biosciences
AURA
$741M
$14.2M 0.52%
2,117,697
– –
USNA icon
53
Usana Health Sciences
USNA
$412M
$14.2M 0.52%
810,074
+225,000
+38% +$4.47M
PCVX icon
54
Vaxcyte
PCVX
$8.01B
$13.9M 0.51%
+238,746
New +$13M
CWH icon
55
CALL
Camping World
CWH
$389M
$13.7M 0.5%
2,000,000
– –
MDXG icon
56
MiMedx Group
MDXG
$635M
$13.4M 0.49%
3,397,299
+980,910
+41% +$4.94M
ASRT
57
DELISTED
Assertio
ASRT
$13.2M 0.49%
692,335
+105,000
+18% +$1.29M
FOXF icon
58
CALL
Fox Factory Holding Corp
FOXF
$779M
$13.2M 0.48%
+800,000
New +$14.5M
DSGR icon
59
Distribution Solutions Group
DSGR
$1.6B
$13M 0.48%
494,581
+164,581
+50% +$4.6M
AGMB
60
AgomAb Therapeutics NV
AGMB
$616M
$12.9M 0.47%
+1,200,000
New +$17M
HLXC
61
Helix Acquisition Corp III
HLXC
$232M
$12.7M 0.47%
+1,250,000
New +$12.8M
APYX icon
62
Apyx Medical
APYX
$164M
$12.7M 0.47%
3,440,304
-533,787
-13% -$1.99M
RDNW
63
CALL
RideNow Group
RDNW
$251M
$12M 0.44%
1,700,000
– –
SLN
64
Silence Therapeutics
SLN
$570M
$11.3M 0.42%
2,146,731
+604,304
+39% +$3.33M
JANX icon
65
Janux Therapeutics
JANX
$950M
$11.3M 0.41%
+809,914
New +$11.1M
CHYM
66
CALL
Chime Financial
CHYM
$8.33B
$11.2M 0.41%
600,000
– –
GLUE icon
67
Monte Rosa Therapeutics
GLUE
$1.91B
$10.7M 0.39%
651,993
+594,002
+1,024% +$11.4M
FLWS icon
68
1-800-Flowers.com
FLWS
$245M
$10.3M 0.38%
3,375,065
– –
CNTA
69
DELISTED
Centessa Pharmaceuticals
CNTA
$10.1M 0.37%
254,803
– –
XFOR icon
70
X4 Pharmaceuticals
XFOR
$372M
$10.1M 0.37%
2,449,468
– –
DUOL icon
71
Duolingo
DUOL
$6.19B
$9.86M 0.36%
+100,000
New +$12.3M
COGT icon
72
Cogent Biosciences
COGT
$6.91B
$9.62M 0.35%
250,000
– –
SVC
73
Service Properties Trust
SVC
$1.08B
$9.56M 0.35%
1,411,577
– –
ILPT
74
Industrial Logistics Properties Trust
ILPT
$601M
$9.54M 0.35%
1,678,973
– –
RSVR icon
75
Reservoir Media
RSVR
$707M
$9.21M 0.34%
940,960
– –
1 2
3
4 5

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FNF
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MASUI
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BCM
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Nantahala Capital Management's Q1 2026 Portfolio in Review

As of Q1 2026, Nantahala Capital Management held 175 positions worth $2.72B, down 10% from $3.02B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Nantahala Capital Management withdrew a net $128M in Q1 2026, closing 23 positions and reducing 28 holdings. Its most notable exit was Eventbrite, an estimated $30.5M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 36% of assets, up from 34% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Nantahala Capital Management opened a new position in AgomAb Therapeutics NV worth $12.9M.

  • Nantahala Capital Management's largest Q1 2026 buy was AgomAb Therapeutics NV: 1,200,000 shares worth $12.9M.
  • Nantahala Capital Management added most to Peloton Interactive in Q1 2026, an estimated $29.6M increase.
  • Nantahala Capital Management's biggest Q1 2026 reduction was Tango Therapeutics, cutting an estimated $32.3M.
  • Nantahala Capital Management fully exited Eventbrite in Q1 2026, selling an estimated $30.5M.
  • Nantahala Capital Management's ten largest holdings make up 40% of its $2.72B portfolio in Q1 2026.
  • Nantahala Capital Management opened 22 new positions and closed 23 in Q1 2026.
  • Nantahala Capital Management's portfolio value fell 10% quarter-over-quarter to $2.72B.

Based on Nantahala Capital Management's 13F filing for Q1 2026, filed 15 May 2026.