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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
+11.08%
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
$1.03B
AUM Growth
-$271M
Cap. Flow
-$280M
Cap. Flow %
-27.07%
Top 10 Hldgs %
51.2%
Holding
145
New
21
Increased
20
Reduced
48
Closed
21

Top Buys

Rank Stock Value
1
TBBK icon
The Bancorp
TBBK
+$12.6M
2
CYTK icon
Cytokinetics
CYTK
+$5.52M
3
DYN icon
Dyne Therapeutics
DYN
+$4.89M
4
LYRA
LYRA THERAPEUTICS INC
LYRA
+$4.82M
5
AMLX icon
Amylyx Pharmaceuticals
AMLX
+$4.44M

Top Sells

Rank Stock Value
1
TA
TravelCenters of America LLC
TA
+$51.7M
2
APEN
Apollo Endosurgery, Inc.
APEN
+$45.4M
3
IWM icon
iShares Russell 2000 ETF
IWM
+$24M
4
TNL icon
Travel + Leisure Co
TNL
+$23.3M
5
SNDX icon
Syndax Pharmaceuticals
SNDX
+$13.6M

Sector Composition

Rank Sector Weight
1 Healthcare 41.04%
2 Financials 9.2%
3 Consumer Discretionary 9.01%
4 Communication Services 6.73%
5 Industrials 5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SRTS icon
101
Sensus Healthcare
SRTS
$50.9M
$583K 0.06%
185,048
– –
KROS icon
102
CALL
Keros Therapeutics
KROS
$212M
$494K 0.05%
12,300
– –
TACT icon
103
Transact Technologies
TACT
$57.6M
$354K 0.03%
39,500
-21,289
-35% -$150K
XGN icon
104
Exagen
XGN
$161M
$353K 0.03%
121,894
-10,719
-8% -$30.5K
AKU
105
DELISTED
Akumin Inc
AKU
$340K 0.03%
1,886,856
– –
LADR
106
Ladder Capital
LADR
$1.22B
$294K 0.03%
+27,073
New +$262K
DERM icon
107
Journey Medical
DERM
$177M
$284K 0.03%
178,706
-33,651
-16% -$54.1K
LUCD icon
108
Lucid Diagnostics
LUCD
$183M
$277K 0.03%
199,074
-62,590
-24% -$94.3K
EAR
109
DELISTED
Eargo, Inc. Common Stock
EAR
$266K 0.03%
54,002
– –
BMTX
110
DELISTED
BM Technologies, Inc.
BMTX
$236K 0.02%
79,212
– –
AVTX icon
111
Avalo Therapeutics
AVTX
$1.06B
$198K 0.02%
2,318
-1,052
-31% -$708K
RFL icon
112
Rafael Holdings
RFL
$103M
$152K 0.01%
73,695
– –
EBET
113
DELISTED
EBET, INC. Common Stock
EBET
$126K 0.01%
35,514
– –
NOGNW
114
DELISTED
Nogin, Inc. Warrant
NOGNW
$112K 0.01%
+330,000
New +$5.84K
CUE icon
115
Cue Biopharma
CUE
$110M
$97.7K 0.01%
892
-2,218
-71% -$261K
ABEO icon
116
CALL
Abeona Therapeutics
ABEO
$425M
$80.6K 0.01%
+20,000
New +$70K
NOGN
117
DELISTED
Nogin, Inc. Common Stock
NOGN
$73.9K 0.01%
+56,425
New +$103K
FULC icon
118
Fulcrum Therapeutics
FULC
$286M
$70.5K 0.01%
21,370
– –
GAIA icon
119
Gaia
GAIA
$48.1M
$53.5K 0.01%
23,144
– –
GFAIW icon
120
Guardforce AI Warrant
GFAIW
$90K
$50.9K ﹤0.01%
154,205
– –
GYRE icon
121
Gyre Therapeutics
GYRE
$749M
$23.8K ﹤0.01%
4,520
-6,175
-58% -$22.1K
TCBPW
122
DELISTED
TC BioPharm (Holdings) plc Warrants
TCBPW
$10.1K ﹤0.01%
235,294
– –
BACK
123
DELISTED
IMAC Holdings, Inc. Common Stock
BACK
$5.93K ﹤0.01%
1,797
-32,872
-95% -$137K
CRIS icon
124
Curis
CRIS
$7.13M
– –
-577
Closed -$137K
DAKT icon
125
Daktronics
DAKT
$1.03B
– –
-292,187
Closed -$1.66M
2 3 4
5
6

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Nantahala Capital Management's Q2 2023 Portfolio in Review

As of Q2 2023, Nantahala Capital Management held 145 positions worth $1.03B, down 21% from $1.31B the previous quarter. Its ten largest holdings account for 51% of the portfolio.

Nantahala Capital Management withdrew a net $280M in Q2 2023, closing 21 positions and reducing 48 holdings. Its most notable exit was TravelCenters of America LLC, an estimated $51.7M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 41% of assets, up from 38% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Nantahala Capital Management opened a new position in The Bancorp worth $13.3M.

  • Nantahala Capital Management's largest Q2 2023 buy was The Bancorp: 407,946 shares worth $13.3M.
  • Nantahala Capital Management added most to Cytokinetics in Q2 2023, an estimated $5.52M increase.
  • Nantahala Capital Management's biggest Q2 2023 reduction was iShares Russell 2000 ETF, cutting an estimated $24M.
  • Nantahala Capital Management fully exited TravelCenters of America LLC in Q2 2023, selling an estimated $51.7M.
  • Nantahala Capital Management's ten largest holdings make up 51% of its $1.03B portfolio in Q2 2023.
  • Nantahala Capital Management opened 21 new positions and closed 21 in Q2 2023.
  • Nantahala Capital Management's portfolio value fell 21% quarter-over-quarter to $1.03B.

Based on Nantahala Capital Management's 13F filing for Q2 2023, filed 14 Aug 2023.