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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
-8.78%
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
$2.7B
AUM Growth
-$549M
Cap. Flow
-$199M
Cap. Flow %
-7.38%
Top 10 Hldgs %
45.84%
Holding
103
New
10
Increased
23
Reduced
17
Closed
11

Top Buys

Rank Stock Value
1
QURE icon
uniQure
QURE
+$30.4M
2
W icon
Wayfair
W
+$15.6M
3
MED icon
Medifast
MED
+$13M
4
AGS
PlayAGS
AGS
+$12.8M
5
VMD icon
Viemed Healthcare
VMD
+$9.98M

Top Sells

Rank Stock Value
1
WRLD icon
World Acceptance Corp
WRLD
+$48.9M
2
CVNA icon
Carvana
CVNA
+$47M
3
RH icon
RH
RH
+$35.5M
4
SPB icon
Spectrum Brands
SPB
+$22.5M
5
THC icon
Tenet Healthcare
THC
+$10M

Sector Composition

Rank Sector Weight
1 Healthcare 17.42%
2 Consumer Discretionary 10.23%
3 Financials 6.46%
4 Industrials 5.76%
5 Technology 5.29%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VMD icon
51
Viemed Healthcare
VMD
$371M
$10.3M 0.38%
+1,498,100
New +$9.98M
RFL icon
52
Rafael Holdings
RFL
$107M
$10.2M 0.38%
492,161
– –
SRL icon
53
Scully Royalty
SRL
$87.1M
$9.75M 0.36%
837,048
-2,606
-0.3% -$33.8K
AGS
54
DELISTED
PlayAGS
AGS
$9.25M 0.34%
+900,000
New +$12.8M
SIGA icon
55
SIGA Technologies
SIGA
$219M
$9.22M 0.34%
1,800,514
– –
FTACU
56
DELISTED
FinTech Acquisition Corp. III Unit
FTACU
$9M 0.33%
842,730
– –
APTO
57
DELISTED
Aptose Biosciences, Inc.
APTO
$8.9M 0.33%
9,483
+1,901
+25% +$2.16M
SIC
58
DELISTED
Select Interior Concepts, Inc. Class A Common Stock
SIC
$8.47M 0.31%
653,461
– –
AKBA icon
59
CALL
Akebia Therapeutics
AKBA
$252M
$7.84M 0.29%
2,000,000
– –
CEMI
60
DELISTED
Chembio diagnostics, Inc.
CEMI
$7.59M 0.28%
1,239,983
– –
SHOS
61
DELISTED
Sears Hometown and Outlet Stores, Inc.
SHOS
$7.49M 0.28%
2,131,251
-5,000
-0.2% -$14.8K
BRSL
62
CALL
Brightstar Lottery PLC
BRSL
$2.03B
$7.11M 0.26%
500,000
– –
NEOS
63
DELISTED
Neos Therapeutics, Inc
NEOS
$6.82M 0.25%
4,610,000
– –
ELVT
64
DELISTED
Elevate Credit, Inc.
ELVT
$6.6M 0.24%
1,568,411
-145,953
-9% -$648K
SSKN
65
DELISTED
Strata Skin Sciences
SSKN
$6.13M 0.23%
285,100
– –
APEN
66
DELISTED
Apollo Endosurgery, Inc.
APEN
$5.96M 0.22%
1,810,562
– –
PRTY
67
CALL
DELISTED
Party City Holdco Inc.
PRTY
$5.71M 0.21%
+1,000,000
New +$5.7M
VIRX
68
DELISTED
Viracta Therapeutics, Inc. Common Stock
VIRX
$5.54M 0.21%
220,004
+92,609
+73% +$2.67M
GYRE icon
69
Gyre Therapeutics
GYRE
$744M
$5.22M 0.19%
141,712
+2,666
+2% +$144K
INSUU
70
DELISTED
Insurance Acquisition Corp. Unit
INSUU
$5.21M 0.19%
500,000
– –
LINC icon
71
Lincoln Educational Services
LINC
$1.3B
$5.07M 0.19%
2,436,805
– –
ARYAU
72
DELISTED
ARYA Sciences Acquisiton Corp. Unit
ARYAU
$4.96M 0.18%
452,944
– –
NATR icon
73
Nature's Sunshine
NATR
$288M
$4.84M 0.18%
583,510
– –
RDNW
74
RideNow Group
RDNW
$262M
$4.72M 0.18%
81,718
– –
GLMD icon
75
Galmed Pharmaceuticals
GLMD
$4.97M
$4.2M 0.16%
4,884
– –
1 2
3
4 5

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Nantahala Capital Management's Q3 2019 Portfolio in Review

As of Q3 2019, Nantahala Capital Management held 103 positions worth $2.7B, down 17% from $3.25B the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Nantahala Capital Management withdrew a net $199M in Q3 2019, closing 11 positions and reducing 17 holdings. Its most notable exit was Spectrum Brands, an estimated $22.5M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 17% of assets, down from 18% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Nantahala Capital Management opened a new position in Medifast worth $12.6M.

  • Nantahala Capital Management's largest Q3 2019 buy was Medifast: 121,407 shares worth $12.6M.
  • Nantahala Capital Management added most to uniQure in Q3 2019, an estimated $30.4M increase.
  • Nantahala Capital Management's biggest Q3 2019 reduction was World Acceptance Corp, cutting an estimated $48.9M.
  • Nantahala Capital Management fully exited Spectrum Brands in Q3 2019, selling an estimated $22.5M.
  • Nantahala Capital Management's ten largest holdings make up 46% of its $2.7B portfolio in Q3 2019.
  • Nantahala Capital Management opened 10 new positions and closed 11 in Q3 2019.
  • Nantahala Capital Management's portfolio value fell 17% quarter-over-quarter to $2.7B.

Based on Nantahala Capital Management's 13F filing for Q3 2019, filed 14 Nov 2019.