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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
TA
76
DELISTED
TravelCenters of America LLC
TA
$4.16M 0.15%
337,390
+4,117
+1% +$61.9K
EMMS
77
DELISTED
Emmis Communications Corp
EMMS
$3.92M 0.15%
831,817
– –
MACK
78
DELISTED
Merrimack Pharmaceuticals, Inc.
MACK
$3.36M 0.12%
747,635
-75,509
-9% -$377K
DVD
79
DELISTED
Dover Motorsports
DVD
$3.36M 0.12%
1,695,541
– –
HTGM
80
DELISTED
HTG Molecular Diagnostics, Inc. Common Stock
HTGM
$3.32M 0.12%
+27,778
New +$5.59M
ACER
81
DELISTED
Acer Therapeutics Inc
ACER
$3.16M 0.12%
990,655
– –
SCPL
82
DELISTED
SciPlay Corporation Class A Common Stock
SCPL
$2.67M 0.1%
250,000
– –
ZVO
83
DELISTED
Zovio Inc. Common Stock
ZVO
$2.13M 0.08%
1,083,906
+93,601
+9% +$282K
CCXI
84
CALL
DELISTED
ChemoCentryx, Inc.
CCXI
$2.03M 0.08%
+300,000
New +$2.25M
STRM
85
DELISTED
Streamline Health Solutions
STRM
$1.91M 0.07%
117,353
– –
DRIO icon
86
DarioHealth
DRIO
$71.2M
$1.3M 0.05%
10,704
– –
DCPH
87
DELISTED
Deciphera Pharmaceuticals, Inc. Common Stock
DCPH
$1.3M 0.05%
+38,247
New +$1.13M
CVNA icon
88
Carvana
CVNA
$77.9B
$1.22M 0.05%
92,645
-3,271,925
-97% -$47M
PHGE icon
89
BiomX
PHGE
$1.85M
$1.2M 0.04%
+526
New +$1.03M
STRDW
90
DELISTED
Sitio Royalties Corp. Warrant
STRDW
$942K 0.03%
878,022
– –
MOTS
91
DELISTED
Motus GI Holdings, Inc. Common Stock
MOTS
$827K 0.03%
1,392
– –
FBIO icon
92
Fortress Biotech
FBIO
$88.7M
$475K 0.02%
+22,441
New +$528K
RBCAA icon
93
Republic Bancorp
RBCAA
$1.95B
– –
-7,371
Closed -$367K
SPB icon
94
Spectrum Brands
SPB
$2.07B
– –
-417,912
Closed -$22.5M
SPY icon
95
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$810B
– –
-300,000
Closed -$87.9M
TLYS icon
96
Tilly's
TLYS
$128M
– –
-858,103
Closed -$6.55M
XLV icon
97
PUT
State Street Health Care Select Sector SPDR ETF
XLV
$43.3B
– –
-1,500,000
Closed -$139M
PVLA
98
Palvella Therapeutics
PVLA
$2.27B
– –
-18,470
Closed -$6.95M
VIVE
99
DELISTED
VIVEVE MED INC
VIVE
– –
-6,581
Closed -$2.5M
CHAC.U
100
DELISTED
Chardan Healthcare Acquisition Corp.
CHAC.U
– –
-100,000
Closed -$1.02M
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.