We are live on ! Find out more
NCM

Nantahala Capital Management Portfolio holdings

AUM $2.72B
1-Year Est. Return 121.58%
This Fund
S&P 500
This Quarter Est. Return
+11.54%
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
$3.02B
AUM Growth
+$145M
Cap. Flow
-$41.1M
Cap. Flow %
-1.36%
Top 10 Hldgs %
45.87%
Holding
173
New
19
Increased
36
Reduced
34
Closed
20

Top Buys

Rank Stock Value
1
GOGO icon
Gogo Inc
GOGO
+$49.8M
2
IWM icon
iShares Russell 2000 ETF
IWM
+$28.8M
3
FOXF icon
Fox Factory Holding Corp
FOXF
+$27.8M
4
SLNO
Soleno Therapeutics
SLNO
+$24.7M
5
PTON icon
Peloton Interactive
PTON
+$15.7M

Top Sells

Rank Stock Value
1
ESTA icon
Establishment Labs
ESTA
+$59.5M
2
ABVX
Abivax
ABVX
+$44.1M
3
COGT icon
Cogent Biosciences
COGT
+$35.3M
4
AMRX icon
Amneal Pharmaceuticals
AMRX
+$20.3M
5
IMAX icon
IMAX
IMAX
+$18.1M

Sector Composition

Rank Sector Weight
1 Healthcare 34.48%
2 Consumer Discretionary 8.75%
3 Financials 3.52%
4 Communication Services 3.05%
5 Industrials 1.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CASH icon
76
Pathward Financial
CASH
$1.82B
$9.34M 0.31%
131,608
+123,267
+1,478% +$8.84M
ILPT
77
Industrial Logistics Properties Trust
ILPT
$592M
$9.3M 0.31%
1,678,973
+3,700
+0.2% +$20.5K
SLDB icon
78
Solid Biosciences
SLDB
$943M
$9.04M 0.3%
1,603,336
-95,922
-6% -$520K
DSGR icon
79
Distribution Solutions Group
DSGR
$1.62B
$9.04M 0.3%
330,000
+99,661
+43% +$2.8M
RH icon
80
CALL
RH
RH
$3.46B
$8.96M 0.3%
50,000
– –
QNCX icon
81
Quince Therapeutics
QNCX
$30.7M
$8.95M 0.3%
13,362
-2,007
-13% -$1.01M
COGT icon
82
Cogent Biosciences
COGT
$6.74B
$8.88M 0.29%
250,000
-1,256,989
-83% -$35.3M
EHTH icon
83
eHealth
EHTH
$40.4M
$8.1M 0.27%
1,761,441
– –
IKT icon
84
Inhibikase Therapeutics
IKT
$380M
$8.06M 0.27%
3,929,292
+1,739,292
+79% +$2.77M
ITGR icon
85
Integer Holdings
ITGR
$4.25B
$8M 0.26%
+102,000
New +$8.13M
CMCO icon
86
Columbus McKinnon
CMCO
$560M
$7.76M 0.26%
450,000
– –
KROS icon
87
Keros Therapeutics
KROS
$212M
$7.34M 0.24%
360,419
-872,770
-71% -$15.3M
RSVR
88
Reservoir Media
RSVR
$659M
$7.12M 0.24%
940,960
-10,000
-1% -$74.9K
HAIN icon
89
Hain Celestial
HAIN
$51.8M
$6.99M 0.23%
6,528,789
+3,528,789
+118% +$4.35M
VMD icon
90
Viemed Healthcare
VMD
$352M
$6.93M 0.23%
932,445
– –
RH icon
91
RH
RH
$3.46B
$6.77M 0.22%
+37,791
New +$6.46M
CDXS icon
92
Codexis
CDXS
$160M
$6.5M 0.22%
3,990,169
-40,450
-1% -$82.5K
DRIO icon
93
DarioHealth
DRIO
$75.3M
$6.41M 0.21%
563,232
-1
-0% -$13
CNTA
94
DELISTED
Centessa Pharmaceuticals
CNTA
$6.37M 0.21%
254,803
-150,000
-37% -$3.8M
TELA icon
95
TELA Bio
TELA
$37M
$6.03M 0.2%
5,111,588
– –
NSPR icon
96
InspireMD
NSPR
$38.4M
$6.01M 0.2%
3,376,484
– –
UNCY icon
97
Unicycive Therapeutics
UNCY
$138M
$5.42M 0.18%
939,202
– –
ASRT
98
DELISTED
Assertio
ASRT
$5.33M 0.18%
587,335
-3
-0% -$35
SRZN icon
99
Surrozen
SRZN
$299M
$5.19M 0.17%
229,527
– –
KROS icon
100
CALL
Keros Therapeutics
KROS
$212M
$5.09M 0.17%
250,000
– –
2 3
4
5 6

Similar funds

TAM
Timucuan Asset Management Jacksonville, Florida $2.72B AUM 4.95% 1-Year Est. Return
XL
XN LP New York $2.72B AUM 46.67% 1-Year Est. Return
NB
Nicolet Bankshares Green Bay, Wisconsin $2.71B AUM 17.55% 1-Year Est. Return
PA
Profund Advisors Bethesda, Maryland $2.72B AUM 47.27% 1-Year Est. Return
BCM
Bowie Capital Management Richardson, Texas $2.71B AUM 5.42% 1-Year Est. Return
SCM
Shaolin Capital Management Miami, Florida $2.71B AUM 64.57% 1-Year Est. Return
HCM
Hollencrest Capital Management Newport Beach, California $2.7B AUM 23.62% 1-Year Est. Return
GC
Giverny Capital Montreal, Quebec, Canada $2.73B AUM 14.09% 1-Year Est. Return

Nantahala Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Nantahala Capital Management held 173 positions worth $3.02B, up 5% from $2.88B the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Nantahala Capital Management's Q4 2025 filing shows 19 new, 36 increased, 34 reduced and 20 closed positions. Its largest new stake was Gogo Inc: 6,792,649 shares worth $31.7M. The largest sale was Establishment Labs, an estimated $59.5M.

By sector, the portfolio is most concentrated in Healthcare at 34% of assets, down from 39% a quarter earlier, followed by Consumer Discretionary and Financials.

  • Nantahala Capital Management's largest Q4 2025 buy was Gogo Inc: 6,792,649 shares worth $31.7M.
  • Nantahala Capital Management added most to Fox Factory Holding Corp in Q4 2025, an estimated $27.8M increase.
  • Nantahala Capital Management's biggest Q4 2025 reduction was Establishment Labs, cutting an estimated $59.5M.
  • Nantahala Capital Management fully exited Palvella Therapeutics in Q4 2025, selling an estimated $15.7M.
  • Nantahala Capital Management's ten largest holdings make up 46% of its $3.02B portfolio in Q4 2025.
  • Nantahala Capital Management opened 19 new positions and closed 20 in Q4 2025.
  • Nantahala Capital Management's portfolio value rose 5% quarter-over-quarter to $3.02B.

Based on Nantahala Capital Management's 13F filing for Q4 2025, filed 13 Feb 2026.