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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
+42.28%
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
$3.23B
AUM Growth
-$42M
Cap. Flow
-$623M
Cap. Flow %
-19.3%
Top 10 Hldgs %
49.44%
Holding
136
New
22
Increased
36
Reduced
40
Closed
23

Top Buys

Rank Stock Value
1
SPRY icon
ARS Pharmaceuticals
SPRY
+$40.3M
2
SFT
Shift Technologies, Inc. Class A Common Stock
SFT
+$23.7M
3
MILE
Metromile, Inc. Common Stock
MILE
+$22.8M
4
IMAX icon
IMAX
IMAX
+$22.3M
5
KROS icon
Keros Therapeutics
KROS
+$16.2M

Top Sells

Rank Stock Value
1
WRLD icon
World Acceptance Corp
WRLD
+$22.4M
2
VAC icon
Marriott Vacations Worldwide
VAC
+$16.8M
3
INAQU
INSU Acquisition Corp. II Unit
INAQU
+$16.3M
4
FRG
Franchise Group, Inc.
FRG
+$15.2M
5
IWM icon
iShares Russell 2000 ETF
IWM
+$15.1M

Sector Composition

Rank Sector Weight
1 Healthcare 24.66%
2 Consumer Discretionary 8.76%
3 Industrials 6.02%
4 Financials 5.59%
5 Technology 5.16%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HCA icon
76
HCA Healthcare
HCA
$89B
$8.44M 0.26%
51,317
-131
-0.3% -$19.2K
PRCH icon
77
Porch Group
PRCH
$1.78B
$8.16M 0.25%
+600,000
New +$6.7M
MILEW
78
DELISTED
Metromile, Inc. Warrant
MILEW
$8.08M 0.25%
+524,964
New +$1.59M
APEN
79
DELISTED
Apollo Endosurgery, Inc.
APEN
$7.78M 0.24%
2,289,263
+375,291
+20% +$988K
NAUT icon
80
Nautilus Biotechnolgy
NAUT
$115M
$7.59M 0.24%
700,000
– –
SCPL
81
DELISTED
SciPlay Corporation Class A Common Stock
SCPL
$7.07M 0.22%
510,122
-307,160
-38% -$4.46M
SSKN
82
DELISTED
Strata Skin Sciences
SSKN
$7.03M 0.22%
468,391
-115
-0% -$1.66K
CDXS icon
83
CALL
Codexis
CDXS
$160M
$6.55M 0.2%
+300,000
New +$4.94M
VG
84
CALL
DELISTED
Vonage Holdings Corporation
VG
$6.44M 0.2%
500,000
– –
XELA
85
DELISTED
Exela Technologies, Inc. Common Stock
XELA
$6.3M 0.2%
1,264
-1
-0.1% -$4.73K
AFI
86
DELISTED
Armstrong Flooring, Inc.
AFI
$6.22M 0.19%
1,627,441
+71,006
+5% +$254K
GLMD icon
87
Galmed Pharmaceuticals
GLMD
$4.65M
$5.99M 0.19%
10,705
-810
-7% -$506K
PAYAW
88
DELISTED
Paya Holdings Inc. Warrant
PAYAW
$5.25M 0.16%
+538,510
New +$1.48M
MACK
89
DELISTED
Merrimack Pharmaceuticals, Inc.
MACK
$5.18M 0.16%
751,843
-100
-0% -$493
PRTY
90
DELISTED
Party City Holdco Inc.
PRTY
$5.09M 0.16%
834,002
– –
ACET icon
91
Adicet Bio
ACET
$75.8M
$4.83M 0.15%
21,501
-4,448
-17% -$911K
CEREW
92
DELISTED
Cerevel Therapeutics Holdings, Inc. Warrant
CEREW
$4.31M 0.13%
+283,332
New +$1.14M
DVD
93
DELISTED
Dover Motorsports
DVD
$4.3M 0.13%
1,895,337
-204
-0% -$354
STRM
94
DELISTED
Streamline Health Solutions
STRM
$4.3M 0.13%
183,573
– –
SRL icon
95
Scully Royalty
SRL
$90.6M
$3.73M 0.12%
753,159
-726
-0.1% -$3.25K
CURIW
96
DELISTED
CuriosityStream Warrant
CURIW
$2.76M 0.09%
+200,000
New +$272K
ACER
97
DELISTED
Acer Therapeutics Inc
ACER
$2.59M 0.08%
989,755
-900
-0.1% -$2.42K
SIGA icon
98
SIGA Technologies
SIGA
$210M
$2.33M 0.07%
321,031
-654,407
-67% -$4.61M
TNGX icon
99
Tango Therapeutics
TNGX
$4.35B
$2.29M 0.07%
200,000
– –
TSHA icon
100
Taysha Gene Therapies
TSHA
$1.84B
$2.08M 0.06%
78,576
+3,576
+5% +$77K
2 3
4
5 6

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Nantahala Capital Management's Q4 2020 Portfolio in Review

As of Q4 2020, Nantahala Capital Management held 136 positions worth $3.23B, down 1.3% from $3.27B the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Nantahala Capital Management withdrew a net $623M in Q4 2020, closing 23 positions and reducing 40 holdings. Its most notable exit was World Acceptance Corp, an estimated $22.4M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 25% of assets, up from 18% a quarter earlier, followed by Consumer Discretionary and Industrials.

Against the trend, Nantahala Capital Management opened a new position in ARS Pharmaceuticals worth $54.4M.

  • Nantahala Capital Management's largest Q4 2020 buy was ARS Pharmaceuticals: 1,206,471 shares worth $54.4M.
  • Nantahala Capital Management added most to Shift Technologies, Inc. Class A Common Stock in Q4 2020, an estimated $23.7M increase.
  • Nantahala Capital Management's biggest Q4 2020 reduction was Marriott Vacations Worldwide, cutting an estimated $16.8M.
  • Nantahala Capital Management fully exited World Acceptance Corp in Q4 2020, selling an estimated $22.4M.
  • Nantahala Capital Management's ten largest holdings make up 49% of its $3.23B portfolio in Q4 2020.
  • Nantahala Capital Management opened 22 new positions and closed 23 in Q4 2020.
  • Nantahala Capital Management's portfolio value fell 1.3% quarter-over-quarter to $3.23B.

Based on Nantahala Capital Management's 13F filing for Q4 2020, filed 16 Feb 2021.