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NCM

Nantahala Capital Management Portfolio holdings

AUM $3.01B
1-Year Est. Return 119.46%
This Fund
S&P 500
This Quarter Est. Return
-0.9%
1 Year Est. Return
+119.46%
3 Year Est. Return
+340.9%
5 Year Est. Return
+347.01%
10 Year Est. Return
+3,143.27%
AUM
$2.72B
AUM Growth
-$309M
Cap. Flow
+$81.1M
Cap. Flow %
2.98%
Top 10 Hldgs %
40.44%
Holding
175
New
22
Increased
46
Reduced
28
Closed
23

Top Buys

Rank Stock Value
1
PTON icon
Peloton Interactive
PTON
+$29.6M
2
MLYS icon
Mineralys Therapeutics
MLYS
+$22.9M
3
CWH icon
Camping World
CWH
+$22.7M
4
VSTM icon
Verastem
VSTM
+$19.3M
5
TBBK icon
The Bancorp
TBBK
+$18.5M

Top Sells

Rank Stock Value
1
TNGX icon
Tango Therapeutics
TNGX
+$32.3M
2
EB
Eventbrite
EB
+$30.5M
3
IWM icon
iShares Russell 2000 ETF
IWM
+$30.2M
4
RAPT
RAPT Therapeutics
RAPT
+$25.5M
5
GMED icon
Globus Medical
GMED
+$19.6M

Sector Composition

Rank Sector Weight
1 Miscellaneous 41.58%
2 Healthcare 36%
3 Consumer Discretionary 9.68%
4 Financials 3.92%
5 Communication Services 2.8%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PERF.WS
151
DELISTED
Perfect Corp Warrants
PERF.WS
$238 ﹤0.01%
16,075
– –
ANEB
152
DELISTED
Anebulo Pharmaceuticals
ANEB
– –
-3,036,325
Closed -$3.07M
ATXS
153
DELISTED
Astria Therapeutics
ATXS
– –
-1,069,530
Closed -$14M
CASH icon
154
Pathward Financial
CASH
$1.69B
– –
-131,608
Closed -$9.34M
CMCO icon
155
Columbus McKinnon
CMCO
$520M
– –
-450,000
Closed -$7.76M
CMPS
156
Compass Pathways
CMPS
$1.9B
– –
-443,293
Closed -$3.06M
CNTX icon
157
Context Therapeutics
CNTX
$35.3M
– –
-37,837
Closed -$55.6K
EB
158
DELISTED
Eventbrite
EB
– –
-6,854,718
Closed -$30.5M
EDSA icon
159
Edesa Biotech
EDSA
$44.5M
– –
-625,000
Closed -$888K
GDEN
160
DELISTED
Golden Entertainment
GDEN
– –
-368,245
Closed -$10M
GMED icon
161
Globus Medical
GMED
$11.1B
– –
-224,962
Closed -$19.6M
IWM icon
162
iShares Russell 2000 ETF
IWM
$80.8B
– –
-117,159
Closed -$30.2M
KPRX icon
163
Kiora Pharmaceuticals
KPRX
$11.6M
– –
-106,156
Closed -$209K
KROS icon
164
CALL
Keros Therapeutics
KROS
$219M
– –
-250,000
Closed -$5.09M
KZR
165
DELISTED
Kezar Life Sciences
KZR
– –
-276,754
Closed -$1.74M
LUCD icon
166
Lucid Diagnostics
LUCD
$189M
– –
-94,541
Closed -$103K
LYV icon
167
PUT
Live Nation Entertainment
LYV
$42.3B
– –
-130,300
Closed -$18.6M
NKTR icon
168
Nektar Therapeutics
NKTR
$2.48B
– –
-112,946
Closed -$4.78M
NPCE icon
169
Neuropace
NPCE
$495M
– –
-295,089
Closed -$4.56M
NUVB.WS
170
DELISTED
Nuvation Bio Inc Warrants
NUVB.WS
– –
-626,191
Closed -$207K
QNCX icon
171
Quince Therapeutics
QNCX
$34.3M
– –
-13,362
Closed -$8.95M
RAPT
172
DELISTED
RAPT Therapeutics
RAPT
– –
-754,153
Closed -$25.5M
SRZN icon
173
Surrozen
SRZN
$264M
– –
-229,527
Closed -$5.19M
SSKN
174
DELISTED
Strata Skin Sciences
SSKN
– –
-403,917
Closed -$509K
3 4 5 6
7

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Nantahala Capital Management's Q1 2026 Portfolio in Review

As of Q1 2026, Nantahala Capital Management held 175 positions worth $2.72B, down 10% from $3.02B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Nantahala Capital Management's Q1 2026 filing shows 22 new, 46 increased, 28 reduced and 23 closed positions. Its largest new stake was AgomAb Therapeutics NV: 1,200,000 shares worth $12.9M. The largest sale was Tango Therapeutics, an estimated $32.3M.

By sector, the portfolio is most concentrated in Miscellaneous at 42% of assets, down from 46% a quarter earlier, followed by Healthcare and Consumer Discretionary.

  • Nantahala Capital Management's largest Q1 2026 buy was AgomAb Therapeutics NV: 1,200,000 shares worth $12.9M.
  • Nantahala Capital Management added most to Peloton Interactive in Q1 2026, an estimated $29.6M increase.
  • Nantahala Capital Management's biggest Q1 2026 reduction was Tango Therapeutics, cutting an estimated $32.3M.
  • Nantahala Capital Management fully exited Eventbrite in Q1 2026, selling an estimated $30.5M.
  • Nantahala Capital Management's ten largest holdings make up 40% of its $2.72B portfolio in Q1 2026.
  • Nantahala Capital Management opened 22 new positions and closed 23 in Q1 2026.
  • Nantahala Capital Management's portfolio value fell 10% quarter-over-quarter to $2.72B.

Based on Nantahala Capital Management's 13F filing for Q1 2026, filed 15 May 2026.