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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
ESTA icon
126
CALL
Establishment Labs
ESTA
$2.24B
– –
-100,000
Closed -$6.77M
HYPR icon
127
Hyperfine
HYPR
$101M
– –
-368,417
Closed -$531K
IRON icon
128
Disc Medicine
IRON
$3.01B
– –
-89,538
Closed -$1.9M
KRE icon
129
CALL
State Street SPDR S&P Regional Banking ETF
KRE
$4.56B
– –
-50,000
Closed -$2.19M
LFCR icon
130
Lifecore Biomedical
LFCR
$176M
– –
-194,700
Closed -$735K
MDXG icon
131
MiMedx Group
MDXG
$622M
– –
-1,529,100
Closed -$5.21M
MED icon
132
Medifast
MED
$135M
– –
-30,000
Closed -$3.11M
RH icon
133
RH
RH
$3.47B
– –
-36,060
Closed -$9.42M
RNG icon
134
RingCentral
RNG
$5.35B
– –
-137,622
Closed -$4.22M
VKTX icon
135
Viking Therapeutics
VKTX
$4.02B
– –
-200,700
Closed -$3.34M
WNC icon
136
PUT
Wabash National
WNC
$510M
– –
-50,000
Closed -$1.23M
LSDI
137
DELISTED
Lucy Scientific Discovery Inc. Common Stock
LSDI
– –
-9,580
Closed -$105K
CVT
138
DELISTED
Cvent Holding Corp. Common Stock
CVT
– –
-845,000
Closed -$7.06M
QTEKW
139
DELISTED
QualTek Services Inc. Warrant
QTEKW
– –
-96,244
Closed -$2.92K
IDW
140
DELISTED
IDW Media Holdings
IDW
– –
-822,537
Closed -$592K
TA
141
DELISTED
TravelCenters of America LLC
TA
– –
-598,210
Closed -$51.7M
AMYT
142
DELISTED
Amryt Pharma plc American Depositary Shares
AMYT
– –
-820,825
Closed -$12M
APEN
143
CALL
DELISTED
Apollo Endosurgery, Inc.
APEN
– –
-2,000,000
Closed -$19.8M
APEN
144
DELISTED
Apollo Endosurgery, Inc.
APEN
– –
-4,575,021
Closed -$45.4M
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.