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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
-1.12%
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
$2.84B
AUM Growth
-$331M
Cap. Flow
-$98.6M
Cap. Flow %
-3.47%
Top 10 Hldgs %
46.08%
Holding
156
New
25
Increased
37
Reduced
37
Closed
20

Top Buys

Rank Stock Value
1
PAYA
Paya Holdings Inc. Class A Common Stock
PAYA
+$18.8M
2
QURE icon
uniQure
QURE
+$17.3M
3
SC
SANTANDER CONSUMER USA HOLDINGS INC
SC
+$16.6M
4
SMLR
Semler Scientific
SMLR
+$15M
5
RMR icon
The RMR Group
RMR
+$11.7M

Top Sells

Rank Stock Value
1
QADA
QAD Inc.
QADA
+$81M
2
VG
Vonage Holdings Corporation
VG
+$47.8M
3
CDXS icon
Codexis
CDXS
+$17.6M
4
CASH icon
Pathward Financial
CASH
+$15.3M
5
IWM icon
iShares Russell 2000 ETF
IWM
+$12.9M

Sector Composition

Rank Sector Weight
1 Healthcare 27.36%
2 Consumer Discretionary 9.53%
3 Financials 4.77%
4 Industrials 4.39%
5 Technology 3.3%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AKBA icon
101
CALL
Akebia Therapeutics
AKBA
$234M
$2.26M 0.08%
+1,000,000
New +$2.73M
MACK
102
DELISTED
Merrimack Pharmaceuticals, Inc.
MACK
$2.23M 0.08%
569,971
– –
XGN icon
103
Exagen
XGN
$161M
$2.17M 0.08%
186,936
-24,680
-12% -$289K
ACER
104
DELISTED
Acer Therapeutics Inc
ACER
$2.06M 0.07%
901,290
-12,907
-1% -$30K
LVTX
105
DELISTED
LAVA Therapeutics
LVTX
$1.98M 0.07%
360,808
-8,482
-2% -$55.6K
FFAI
106
Faraday Future Intelligent Electric
FFAI
$11.2M
– –
0
– –
HTGM
107
DELISTED
HTG Molecular Diagnostics, Inc. Common Stock
HTGM
$1.82M 0.06%
27,918
-1,013
-4% -$59K
FVAM
108
DELISTED
5:01 Acquisition Corp
FVAM
$1.79M 0.06%
181,927
-3,286
-2% -$32.3K
AURA icon
109
Aura Biosciences
AURA
$796M
$1.68M 0.06%
+99,146
New +$1.77M
INAB icon
110
IN8bio
INAB
$9.61M
$1.64M 0.06%
12,439
-61
-0.5% -$12K
UNCY icon
111
Unicycive Therapeutics
UNCY
$138M
$1.42M 0.05%
68,676
-1,324
-2% -$33.1K
PWPPW
112
DELISTED
Perella Weinberg Partners Warrant
PWPPW
$1.41M 0.05%
400,000
– –
CGTX icon
113
Cognition Therapeutics
CGTX
$99.8M
$1.32M 0.05%
+209,588
New +$2.04M
ATXI
114
DELISTED
Avenue Therapeutics, Inc. Common Stock
ATXI
$1.32M 0.05%
1,292
+1,265
+4,685% +$1.83M
CABA icon
115
Cabaletta Bio
CABA
$457M
$1.29M 0.05%
+341,538
New +$3.64M
HOOK
116
DELISTED
HOOKIPA Pharma
HOOK
$1.1M 0.04%
47,357
-2,182
-4% -$87.7K
TNGX icon
117
Tango Therapeutics
TNGX
$4.51B
$1.09M 0.04%
100,000
– –
TACT icon
118
Transact Technologies
TACT
$57.6M
$835K 0.03%
76,583
– –
ELOX
119
DELISTED
Eloxx Pharmaceuticals, Inc. Common Stock
ELOX
$632K 0.02%
22,366
-7,867
-26% -$343K
GLMD icon
120
Galmed Pharmaceuticals
GLMD
$4.9M
$542K 0.02%
1,655
-427
-21% -$193K
FTCVW
121
DELISTED
FinTech Acquisition Corp. V Warrant
FTCVW
$490K 0.02%
333,331
– –
BKKT icon
122
Bakkt Inc
BKKT
$342M
$447K 0.02%
+2,100
New +$867K
HURA
123
TuHURA Biosciences
HURA
$137M
$338K 0.01%
379
– –
GFAIW icon
124
Guardforce AI Warrant
GFAIW
$90K
$333K 0.01%
600,000
– –
OCGN icon
125
Ocugen
OCGN
$444M
$289K 0.01%
+63,606
New +$480K
3 4
5
6 7

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Nantahala Capital Management's Q4 2021 Portfolio in Review

As of Q4 2021, Nantahala Capital Management held 156 positions worth $2.84B, down 10% from $3.17B the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Nantahala Capital Management withdrew a net $98.6M in Q4 2021, closing 20 positions and reducing 37 holdings. Its most notable exit was QAD Inc., an estimated $81M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 27% of assets, up from 24% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Nantahala Capital Management opened a new position in SANTANDER CONSUMER USA HOLDINGS INC worth $16.6M.

  • Nantahala Capital Management's largest Q4 2021 buy was SANTANDER CONSUMER USA HOLDINGS INC: 395,176 shares worth $16.6M.
  • Nantahala Capital Management added most to Paya Holdings Inc. Class A Common Stock in Q4 2021, an estimated $18.8M increase.
  • Nantahala Capital Management's biggest Q4 2021 reduction was Codexis, cutting an estimated $17.6M.
  • Nantahala Capital Management fully exited QAD Inc. in Q4 2021, selling an estimated $81M.
  • Nantahala Capital Management's ten largest holdings make up 46% of its $2.84B portfolio in Q4 2021.
  • Nantahala Capital Management opened 25 new positions and closed 20 in Q4 2021.
  • Nantahala Capital Management's portfolio value fell 10% quarter-over-quarter to $2.84B.

Based on Nantahala Capital Management's 13F filing for Q4 2021, filed 14 Feb 2022.