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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
+11.08%
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
$1.03B
AUM Growth
-$271M
Cap. Flow
-$280M
Cap. Flow %
-27.07%
Top 10 Hldgs %
51.2%
Holding
145
New
21
Increased
20
Reduced
48
Closed
21

Top Buys

Rank Stock Value
1
TBBK icon
The Bancorp
TBBK
+$12.6M
2
CYTK icon
Cytokinetics
CYTK
+$5.52M
3
DYN icon
Dyne Therapeutics
DYN
+$4.89M
4
LYRA
LYRA THERAPEUTICS INC
LYRA
+$4.82M
5
AMLX icon
Amylyx Pharmaceuticals
AMLX
+$4.44M

Top Sells

Rank Stock Value
1
TA
TravelCenters of America LLC
TA
+$51.7M
2
APEN
Apollo Endosurgery, Inc.
APEN
+$45.4M
3
IWM icon
iShares Russell 2000 ETF
IWM
+$24M
4
TNL icon
Travel + Leisure Co
TNL
+$23.3M
5
SNDX icon
Syndax Pharmaceuticals
SNDX
+$13.6M

Sector Composition

Rank Sector Weight
1 Healthcare 41.04%
2 Financials 9.2%
3 Consumer Discretionary 9.01%
4 Communication Services 6.73%
5 Industrials 5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CDTX
51
DELISTED
Cidara Therapeutics
CDTX
$4.48M 0.43%
198,095
-38,387
-16% -$902K
QURE icon
52
CALL
uniQure
QURE
$3.2B
$4.44M 0.43%
387,700
– –
TRML
53
DELISTED
Tourmaline Bio
TRML
$4.41M 0.43%
+145,003
New +$3.7M
IMAX icon
54
CALL
IMAX
IMAX
$2.81B
$4.25M 0.41%
250,000
– –
SSKN
55
DELISTED
Strata Skin Sciences
SSKN
$4.17M 0.4%
439,369
– –
CVNA icon
56
CALL
Carvana
CVNA
$81.6B
$3.89M 0.38%
750,000
– –
DNTH icon
57
Dianthus Therapeutics
DNTH
$6.25B
$3.79M 0.37%
+312,500
New +$3.55M
TELA icon
58
TELA Bio
TELA
$41.6M
$3.61M 0.35%
356,092
+100,000
+39% +$1.02M
AMLX icon
59
Amylyx Pharmaceuticals
AMLX
$2.53B
$3.55M 0.34%
+164,500
New +$4.44M
FBIO icon
60
Fortress Biotech
FBIO
$91.4M
$3.51M 0.34%
426,047
-35,145
-8% -$348K
UTHR icon
61
United Therapeutics
UTHR
$22.7B
$3.47M 0.34%
15,700
– –
IDYA icon
62
IDEAYA Biosciences
IDYA
$3.54B
$3.43M 0.33%
145,860
-107,620
-42% -$2.21M
JSPR icon
63
Jasper Therapeutics
JSPR
$26.3M
$3.39M 0.33%
247,788
+78,943
+47% +$1.17M
NDLS icon
64
Noodles & Co
NDLS
$96.7M
$3.38M 0.33%
+125,000
New +$4.08M
OPTN
65
DELISTED
OptiNose
OPTN
$3.3M 0.32%
178,778
+82,111
+85% +$1.94M
IMTXW
66
DELISTED
Immatics N.V. Warrants
IMTXW
$3.23M 0.31%
986,101
– –
AGS
67
DELISTED
PlayAGS
AGS
$3.12M 0.3%
552,513
+56,000
+11% +$327K
RILY icon
68
BRC Group Holdings
RILY
$292M
$2.87M 0.28%
62,520
– –
ENVA icon
69
Enova International
ENVA
$6.29B
$2.83M 0.27%
53,250
– –
SLNO
70
DELISTED
Soleno Therapeutics
SLNO
$2.79M 0.27%
649,841
-49,523
-7% -$213K
CCCC icon
71
C4 Therapeutics
CCCC
$398M
$2.75M 0.27%
+1,000,000
New +$3.21M
FOSL icon
72
Fossil Group
FOSL
$317M
$2.36M 0.23%
+920,180
New +$2.53M
SRL icon
73
Scully Royalty
SRL
$89.8M
$2.21M 0.21%
303,736
-6,786
-2% -$48K
PWP icon
74
Perella Weinberg Partners
PWP
$1.26B
$2.15M 0.21%
258,273
-247,020
-49% -$2.04M
GPCR icon
75
Structure Therapeutics
GPCR
$3.83B
$2.08M 0.2%
50,000
– –
1 2
3
4 5

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Nantahala Capital Management's Q2 2023 Portfolio in Review

As of Q2 2023, Nantahala Capital Management held 145 positions worth $1.03B, down 21% from $1.31B the previous quarter. Its ten largest holdings account for 51% of the portfolio.

Nantahala Capital Management withdrew a net $280M in Q2 2023, closing 21 positions and reducing 48 holdings. Its most notable exit was TravelCenters of America LLC, an estimated $51.7M position sold in full.

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

Against the trend, Nantahala Capital Management opened a new position in The Bancorp worth $13.3M.

  • Nantahala Capital Management's largest Q2 2023 buy was The Bancorp: 407,946 shares worth $13.3M.
  • Nantahala Capital Management added most to Cytokinetics in Q2 2023, an estimated $5.52M increase.
  • Nantahala Capital Management's biggest Q2 2023 reduction was iShares Russell 2000 ETF, cutting an estimated $24M.
  • Nantahala Capital Management fully exited TravelCenters of America LLC in Q2 2023, selling an estimated $51.7M.
  • Nantahala Capital Management's ten largest holdings make up 51% of its $1.03B portfolio in Q2 2023.
  • Nantahala Capital Management opened 21 new positions and closed 21 in Q2 2023.
  • Nantahala Capital Management's portfolio value fell 21% quarter-over-quarter to $1.03B.

Based on Nantahala Capital Management's 13F filing for Q2 2023, filed 14 Aug 2023.