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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
+9.25%
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
$3.27B
AUM Growth
-$46.7M
Cap. Flow
-$431M
Cap. Flow %
-13.18%
Top 10 Hldgs %
56.15%
Holding
134
New
19
Increased
35
Reduced
23
Closed
20

Top Buys

Rank Stock Value
1
BMY.RT
Bristol-Myers Squibb Company Contingent Value Rights
BMY.RT
+$44.1M
2
FCFS icon
FirstCash
FCFS
+$26.4M
3
SNDX icon
Syndax Pharmaceuticals
SNDX
+$20.4M
4
FTIVU
FinTech Acquisition Corp. IV Unit
FTIVU
+$20M
5
AKU
Akumin Inc
AKU
+$17.2M

Top Sells

Rank Stock Value
1
RH icon
RH
RH
+$39.3M
2
MED icon
Medifast
MED
+$37.9M
3
THC icon
Tenet Healthcare
THC
+$37.4M
4
HCA icon
HCA Healthcare
HCA
+$30.4M
5
IWM icon
iShares Russell 2000 ETF
IWM
+$22.3M

Sector Composition

Rank Sector Weight
1 Healthcare 17.92%
2 Consumer Discretionary 6.06%
3 Industrials 4.77%
4 Technology 4.5%
5 Financials 3.84%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HTGM
101
DELISTED
HTG Molecular Diagnostics, Inc. Common Stock
HTGM
$1.69M 0.05%
28,411
+299
+1% +$26.7K
TSHA icon
102
Taysha Gene Therapies
TSHA
$1.91B
$1.68M 0.05%
+75,000
New +$1.76M
HTZ
103
CALL
DELISTED
Hertz Global Holdings, Inc.
HTZ
$1.44M 0.04%
1,300,000
– –
ONDK
104
DELISTED
On Deck Capital, Inc.
ONDK
$1.41M 0.04%
881,197
-3,804,072
-81% -$5.16M
VIRX
105
DELISTED
Viracta Therapeutics, Inc. Common Stock
VIRX
$865K 0.03%
197,615
-75,723
-28% -$662K
ENVA icon
106
Enova International
ENVA
$6.44B
$793K 0.02%
+48,363
New +$776K
INSUW
107
DELISTED
Insurance Acquisition Corp. Warrant
INSUW
$692K 0.02%
+249,999
New +$670K
NNBR icon
108
NN Inc
NNBR
$309M
$685K 0.02%
132,821
-283,167
-68% -$1.5M
MOTS
109
DELISTED
Motus GI Holdings, Inc. Common Stock
MOTS
$408K 0.01%
1,392
– –
IBRX icon
110
ImmunityBio
IBRX
$8.04B
$351K 0.01%
50,613
+613
+1% +$6.11K
ALTG.WS
111
DELISTED
Alta Equipment Group Warrants
ALTG.WS
$322K 0.01%
187,500
– –
MDIA icon
112
Mediaco Holding
MDIA
$82.3M
$260K 0.01%
98,894
– –
PAYA
113
DELISTED
Paya Holdings Inc. Class A Common Stock
PAYA
$237K 0.01%
+22,978
New +$242K
STRDW
114
DELISTED
Sitio Royalties Corp. Warrant
STRDW
$201K 0.01%
878,022
– –
ADVM
115
PUT
DELISTED
Adverum Biotechnologies
ADVM
– –
-5,000
Closed -$1.04M
CVNA icon
116
Carvana
CVNA
$78.3B
– –
-2,915
Closed -$103K
HYG icon
117
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.9B
– –
-1,200,000
Closed -$97.9M
INMD icon
118
InMode
INMD
$870M
– –
-1,023,712
Closed -$14.5M
KRE icon
119
PUT
State Street SPDR S&P Regional Banking ETF
KRE
$4.6B
– –
-1,000,000
Closed -$38.4M
MED icon
120
Medifast
MED
$132M
– –
-272,957
Closed -$37.9M
NNI icon
121
Nelnet
NNI
$4.53B
– –
-34,900
Closed -$1.67M
OTRK
122
DELISTED
Ontrak
OTRK
– –
-4,636
Closed -$10.3M
PTON icon
123
Peloton Interactive
PTON
$2.45B
– –
-300,000
Closed -$17.3M
RH icon
124
RH
RH
$3.46B
– –
-157,920
Closed -$39.3M
SPY icon
125
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$808B
– –
-400,000
Closed -$123M
2 3 4
5
6

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Nantahala Capital Management's Q3 2020 Portfolio in Review

As of Q3 2020, Nantahala Capital Management held 134 positions worth $3.27B, down 1.4% from $3.32B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Nantahala Capital Management withdrew a net $431M in Q3 2020, closing 20 positions and reducing 23 holdings. Its most notable exit was RH, an estimated $39.3M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 18% of assets, down from 19% a quarter earlier, followed by Consumer Discretionary and Industrials.

Against the trend, Nantahala Capital Management opened a new position in Bristol-Myers Squibb Company Contingent Value Rights worth $34.7M.

  • Nantahala Capital Management's largest Q3 2020 buy was Bristol-Myers Squibb Company Contingent Value Rights: 15,437,336 shares worth $34.7M.
  • Nantahala Capital Management added most to TravelCenters of America LLC in Q3 2020, an estimated $16.5M increase.
  • Nantahala Capital Management's biggest Q3 2020 reduction was Tenet Healthcare, cutting an estimated $37.4M.
  • Nantahala Capital Management fully exited RH in Q3 2020, selling an estimated $39.3M.
  • Nantahala Capital Management's ten largest holdings make up 56% of its $3.27B portfolio in Q3 2020.
  • Nantahala Capital Management opened 19 new positions and closed 20 in Q3 2020.
  • Nantahala Capital Management's portfolio value fell 1.4% quarter-over-quarter to $3.27B.

Based on Nantahala Capital Management's 13F filing for Q3 2020, filed 16 Nov 2020.