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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
+15.96%
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
$2.33B
AUM Growth
+$352M
Cap. Flow
+$348M
Cap. Flow %
14.93%
Top 10 Hldgs %
55.33%
Holding
157
New
17
Increased
46
Reduced
30
Closed
20

Top Buys

Rank Stock Value
1
HGV icon
Hilton Grand Vacations
HGV
+$38.8M
2
SLNO
Soleno Therapeutics
SLNO
+$34.1M
3
KROS icon
Keros Therapeutics
KROS
+$27.7M
4
SVC
Service Properties Trust
SVC
+$26.2M
5
FOXF icon
Fox Factory Holding Corp
FOXF
+$21.9M

Top Sells

Rank Stock Value
1
ESTA icon
Establishment Labs
ESTA
+$30.7M
2
PTON icon
Peloton Interactive
PTON
+$24.4M
3
PWSC
PowerSchool Holdings, Inc.
PWSC
+$13.3M
4
BKSY icon
BlackSky Technology
BKSY
+$9.19M
5
EGRX
Eagle Pharmaceuticals, Inc.
EGRX
+$8.79M

Sector Composition

Rank Sector Weight
1 Healthcare 38.07%
2 Consumer Discretionary 9.17%
3 Communication Services 4.02%
4 Financials 3.76%
5 Industrials 2.12%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ABEO icon
101
CALL
Abeona Therapeutics
ABEO
$425M
$2.9M 0.12%
520,000
– –
SRZN icon
102
Surrozen
SRZN
$295M
$2.81M 0.12%
196,023
+8,817
+5% +$93.6K
KOD icon
103
Kodiak Sciences
KOD
$2.72B
$2.65M 0.11%
266,613
+197,756
+287% +$1.14M
NDLS icon
104
Noodles & Co
NDLS
$96M
$2.61M 0.11%
563,541
– –
ACHV icon
105
Achieve Life Sciences
ACHV
$685M
$2.3M 0.1%
654,000
– –
TELA icon
106
CALL
TELA Bio
TELA
$41.6M
$2.27M 0.1%
750,000
– –
CNTX icon
107
Context Therapeutics
CNTX
$41.6M
$2.03M 0.09%
1,935,484
– –
RAPT
108
DELISTED
RAPT Therapeutics
RAPT
$1.96M 0.08%
+155,439
New +$1.97M
DRIO icon
109
DarioHealth
DRIO
$74.7M
$1.92M 0.08%
122,234
-2,932
-2% -$50.7K
AYTU icon
110
AYTU BioPharma
AYTU
$25.5M
$1.85M 0.08%
1,086,812
– –
NVNO
111
enVVeno Medical
NVNO
$6.93M
$1.8M 0.08%
17,055
– –
BCOV
112
DELISTED
Brightcove, Inc.
BCOV
$1.56M 0.07%
358,052
-1,306,716
-78% -$4.19M
PERF icon
113
Perfect Corp
PERF
$190M
$1.42M 0.06%
500,000
+80,867
+19% +$168K
ASPS icon
114
Altisource Portfolio Solutions
ASPS
$63.3M
$1.4M 0.06%
266,036
+129,660
+95% +$964K
MAX icon
115
MediaAlpha
MAX
$830M
$1.4M 0.06%
123,564
– –
TYRA icon
116
Tyra Biosciences
TYRA
$1.57B
$1.39M 0.06%
+100,000
New +$1.81M
SGRP
117
DELISTED
SPAR Group
SGRP
$1.28M 0.06%
662,028
– –
JBIO
118
Jade Biosciences
JBIO
$1.32B
$1.28M 0.06%
+13,798
New +$1.19M
PHGE icon
119
BiomX
PHGE
$1.78M
$1.24M 0.05%
91,084
– –
SSKN
120
DELISTED
Strata Skin Sciences
SSKN
$1.18M 0.05%
403,917
– –
TLPH icon
121
Talphera
TLPH
$73.2M
$1.04M 0.04%
1,992,519
– –
KPRX icon
122
Kiora Pharmaceuticals
KPRX
$11.4M
$697K 0.03%
211,110
– –
APRE icon
123
Aprea Therapeutics
APRE
$7.98M
$677K 0.03%
205,760
– –
EVOK
124
DELISTED
Evoke Pharma
EVOK
$655K 0.03%
148,194
+91,945
+163% +$458K
GORV
125
DELISTED
Lazydays
GORV
$526K 0.02%
18,371
– –
3 4
5
6 7

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Nantahala Capital Management's Q4 2024 Portfolio in Review

As of Q4 2024, Nantahala Capital Management held 157 positions worth $2.33B, up 18% from $1.98B the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Nantahala Capital Management deployed $348M of net new capital in Q4 2024, opening 17 new positions and adding to 46 existing holdings. Its largest new stake was Service Properties Trust: 1,618,380 shares worth $20.6M.

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

On the sell side, the largest reduction was Establishment Labs, an estimated $30.7M trimmed.

  • Nantahala Capital Management's largest Q4 2024 buy was Service Properties Trust: 1,618,380 shares worth $20.6M.
  • Nantahala Capital Management added most to Hilton Grand Vacations in Q4 2024, an estimated $38.8M increase.
  • Nantahala Capital Management's biggest Q4 2024 reduction was Establishment Labs, cutting an estimated $30.7M.
  • Nantahala Capital Management fully exited PowerSchool Holdings, Inc. in Q4 2024, selling an estimated $13.3M.
  • Nantahala Capital Management's ten largest holdings make up 55% of its $2.33B portfolio in Q4 2024.
  • Nantahala Capital Management opened 17 new positions and closed 20 in Q4 2024.
  • Nantahala Capital Management's portfolio value rose 18% quarter-over-quarter to $2.33B.

Based on Nantahala Capital Management's 13F filing for Q4 2024, filed 14 Feb 2025.