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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
CYRN
101
DELISTED
CYREN Ltd.
CYRN
$1.89M 0.06%
91,963
– –
HTGM
102
DELISTED
HTG Molecular Diagnostics, Inc. Common Stock
HTGM
$1.74M 0.05%
30,302
+1,891
+7% +$110K
IMTXW
103
DELISTED
Immatics N.V. Warrants
IMTXW
$1.5M 0.05%
+226,471
New +$649K
SFTTW
104
DELISTED
Shift Technologies, Inc. Warrant
SFTTW
$1.27M 0.04%
+249,999
New +$714K
ALTG.WS
105
DELISTED
Alta Equipment Group Warrants
ALTG.WS
$993K 0.03%
187,500
– –
AMCX icon
106
AMC Global Media
AMCX
$485M
$921K 0.03%
+25,751
New +$720K
CVNA icon
107
Carvana
CVNA
$78.1B
$921K 0.03%
+19,215
New +$878K
IBRX icon
108
ImmunityBio
IBRX
$8.03B
$703K 0.02%
52,771
+2,158
+4% +$20.8K
MOTS
109
DELISTED
Motus GI Holdings, Inc. Common Stock
MOTS
$394K 0.01%
1,385
-7
-0.5% -$1.89K
STRDW
110
DELISTED
Sitio Royalties Corp. Warrant
STRDW
$375K 0.01%
878,022
– –
HURA
111
TuHURA Biosciences
HURA
$139M
$349K 0.01%
+156
New +$391K
MDIA icon
112
Mediaco Holding
MDIA
$82.3M
$270K 0.01%
103,680
+4,786
+5% +$13.1K
ATXI
113
DELISTED
Avenue Therapeutics, Inc. Common Stock
ATXI
$180K 0.01%
+27
New +$142K
CALC icon
114
CalciMedica
CALC
$10.4M
– –
-17,857
Closed -$3.18M
CAR icon
115
PUT
Avis
CAR
$4.95B
– –
-1,500,000
Closed -$39.5M
DMAC icon
116
DiaMedica Therapeutics
DMAC
$371M
– –
-756,193
Closed -$3.21M
ENVA icon
117
Enova International
ENVA
$6.39B
– –
-48,363
Closed -$793K
HAL icon
118
CALL
Halliburton
HAL
$28.2B
– –
-1,086,200
Closed -$13.1M
IWM icon
119
CALL
iShares Russell 2000 ETF
IWM
$81.7B
– –
-700,000
Closed -$105M
IWM icon
120
iShares Russell 2000 ETF
IWM
$81.7B
– –
-86,413
Closed -$15.1M
NNBR icon
121
NN Inc
NNBR
$311M
– –
-132,821
Closed -$685K
PENN icon
122
PUT
PENN Entertainment
PENN
$2.56B
– –
-300,000
Closed -$21.8M
UPBD icon
123
Upbound Group
UPBD
$1.12B
– –
-177,165
Closed -$5.29M
WRLD icon
124
World Acceptance Corp
WRLD
$874M
– –
-212,042
Closed -$22.4M
ITCI
125
DELISTED
Intra-Cellular Therapies Inc.
ITCI
– –
-174,461
Closed -$4.48M
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.