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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
ONTF
126
DELISTED
ON24
ONTF
– –
-538,906
Closed -$4.74M
SMLR
127
DELISTED
Semler Scientific
SMLR
– –
-72,397
Closed -$2.72M
SNDX icon
128
CALL
Syndax Pharmaceuticals
SNDX
$1.81B
– –
-30,000
Closed -$721K
SPRY icon
129
ARS Pharmaceuticals
SPRY
$591M
– –
-1,249,863
Closed -$6.6M
STIM icon
130
Neuronetics
STIM
$222M
– –
-380,325
Closed -$1.21M
TNL icon
131
CALL
Travel + Leisure Co
TNL
$4.52B
– –
-919,100
Closed -$31.4M
ARYD
132
DELISTED
ARYA Sciences Acquisition Corp IV Class A Odinary Shares
ARYD
– –
-285,730
Closed -$2.83M
HLGN
133
DELISTED
Heliogen, Inc.
HLGN
– –
-12,397
Closed -$807K
ARYE
134
DELISTED
ARYA Sciences Acquisition Corp V Class A Ordinary Shares
ARYE
– –
-759,572
Closed -$7.48M
WEJO
135
DELISTED
Wejo Group Limited Common Shares
WEJO
– –
-118,175
Closed -$129K
TCDA
136
DELISTED
Tricida, Inc. Common Stock
TCDA
– –
-229,610
Closed -$2.41M
FTVIW
137
DELISTED
FinTech Acquisition Corp. VI Warrants
FTVIW
– –
-240,600
Closed -$10K
IIIIW
138
DELISTED
INSU Acquisition Corp. III Warrant
IIIIW
– –
-333,332
Closed -$23K
FTCVW
139
DELISTED
FinTech Acquisition Corp. V Warrant
FTCVW
– –
-333,331
Closed -$13K
ZVO
140
DELISTED
Zovio Inc. Common Stock
ZVO
– –
-1,961,635
Closed -$281K
STRDW
141
DELISTED
Sitio Royalties Corp. Warrant
STRDW
– –
-582,350
Closed -$99K
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.