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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
+11.86%
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
$1.54B
AUM Growth
-$2.36M
Cap. Flow
-$96.2M
Cap. Flow %
-6.24%
Top 10 Hldgs %
55.26%
Holding
142
New
22
Increased
21
Reduced
44
Closed
24

Top Buys

Rank Stock Value
1
IWM icon
iShares Russell 2000 ETF
IWM
+$110M
2
HGV icon
Hilton Grand Vacations
HGV
+$16.3M
3
RDNW
RideNow Group
RDNW
+$13.5M
4
BVS icon
Bioventus
BVS
+$12.2M
5
IRON icon
Disc Medicine
IRON
+$7.68M

Top Sells

Rank Stock Value
1
COST icon
Costco
COST
+$40.9M
2
LNW
Light & Wonder
LNW
+$29.8M
3
DXPE icon
DXP Enterprises
DXPE
+$21.9M
4
MLKN icon
MillerKnoll
MLKN
+$11.2M
5
TNL icon
Travel + Leisure Co
TNL
+$11.2M

Sector Composition

Rank Sector Weight
1 Healthcare 31.93%
2 Consumer Discretionary 11.03%
3 Industrials 5.33%
4 Financials 4.5%
5 Technology 4.07%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LUCD icon
101
Lucid Diagnostics
LUCD
$185M
$380K 0.02%
279,537
-6,895
-2% -$12.4K
XGN icon
102
Exagen
XGN
$167M
$352K 0.02%
146,559
-3,976
-3% -$10.2K
UNCY icon
103
Unicycive Therapeutics
UNCY
$138M
$350K 0.02%
64,742
-6,312
-9% -$42.7K
CUE icon
104
Cue Biopharma
CUE
$107M
$266K 0.02%
3,110
– –
IDN icon
105
Intellicheck
IDN
$76.3M
$249K 0.02%
124,594
– –
BACK
106
DELISTED
IMAC Holdings, Inc. Common Stock
BACK
$234K 0.02%
39,142
-1,847
-5% -$17.9K
GYRE icon
107
Gyre Therapeutics
GYRE
$711M
$231K 0.02%
58,407
-282,224
-83% -$1.15M
CYTK icon
108
Cytokinetics
CYTK
$10.8B
$220K 0.01%
+4,802
New +$207K
SGU icon
109
Star Group
SGU
$416M
$153K 0.01%
+12,681
New +$117K
RFL icon
110
Rafael Holdings
RFL
$98.8M
$136K 0.01%
73,695
– –
HURA
111
TuHURA Biosciences
HURA
$142M
$82K 0.01%
340
– –
CYRN
112
DELISTED
CYREN Ltd.
CYRN
$72K ﹤0.01%
116,214
-25,401
-18% -$23.6K
SFT
113
DELISTED
Shift Technologies, Inc. Class A Common Stock
SFT
$45.6K ﹤0.01%
20,000
– –
TCBPW
114
DELISTED
TC BioPharm (Holdings) plc Warrants
TCBPW
$21K ﹤0.01%
235,294
– –
HERAW
115
DELISTED
FTAC Hera Acquisition Corp. Warrant
HERAW
$6.13K ﹤0.01%
222,949
– –
QTEKW
116
DELISTED
QualTek Services Inc. Warrant
QTEKW
$3.96K ﹤0.01%
96,244
– –
GFAIW icon
117
Guardforce AI Warrant
GFAIW
$60K
$3.08K ﹤0.01%
154,205
– –
ALEC icon
118
Alector
ALEC
$218M
– –
-85,514
Closed -$809K
AUTL
119
CALL
Autolus Therapeutics
AUTL
$593M
– –
-70,300
Closed -$150K
CDXS icon
120
CALL
Codexis
CDXS
$161M
– –
-50,000
Closed -$303K
COST icon
121
Costco
COST
$417B
– –
-86,640
Closed -$40.9M
COST icon
122
PUT
Costco
COST
$417B
– –
-91,200
Closed -$43.1M
DRI icon
123
PUT
Darden Restaurants
DRI
$24.9B
– –
-200,000
Closed -$25.3M
IWM icon
124
CALL
iShares Russell 2000 ETF
IWM
$81.8B
– –
-800,000
Closed -$132M
LNW
125
DELISTED
Light & Wonder
LNW
– –
-695,155
Closed -$29.8M
2 3 4
5
6

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Nantahala Capital Management's Q4 2022 Portfolio in Review

As of Q4 2022, Nantahala Capital Management held 142 positions worth $1.54B, down 0.15% from $1.55B the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Nantahala Capital Management withdrew a net $96.2M in Q4 2022, closing 24 positions and reducing 44 holdings. Its most notable exit was Costco, an estimated $40.9M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 32% of assets, up from 29% a quarter earlier, followed by Consumer Discretionary and Industrials.

Against the trend, Nantahala Capital Management opened a new position in Hilton Grand Vacations worth $15.9M.

  • Nantahala Capital Management's largest Q4 2022 buy was Hilton Grand Vacations: 413,200 shares worth $15.9M.
  • Nantahala Capital Management added most to iShares Russell 2000 ETF in Q4 2022, an estimated $110M increase.
  • Nantahala Capital Management's biggest Q4 2022 reduction was DXP Enterprises, cutting an estimated $21.9M.
  • Nantahala Capital Management fully exited Costco in Q4 2022, selling an estimated $40.9M.
  • Nantahala Capital Management's ten largest holdings make up 55% of its $1.54B portfolio in Q4 2022.
  • Nantahala Capital Management opened 22 new positions and closed 24 in Q4 2022.
  • Nantahala Capital Management's portfolio value fell 0.15% quarter-over-quarter to $1.54B.

Based on Nantahala Capital Management's 13F filing for Q4 2022, filed 14 Feb 2023.