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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
+6.15%
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
$713M
AUM Growth
-$102M
(-13%)
Cap. Flow
-$188M
Cap. Flow
% of AUM
-26.45%
Top 10 Holdings %
Top 10 Hldgs %
44.43%
Holding
114
New
14
Increased
36
Reduced
25
Closed
30
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
VER
VEREIT, Inc.
VER
|
+$10.3M |
| 2 |
ONIT
Onity Group
ONIT
|
+$8.91M |
| 3 |
FLNA
Filana Therapeutics
FLNA
|
+$4.3M |
| 4 |
Regional Management Corp
RM
|
+$3.33M |
| 5 |
The Bancorp
TBBK
|
+$3.21M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Lennar Class B
LEN.B
|
+$10.3M |
| 2 |
LTRPA
Liberty TripAdvisor Holdings, Inc. Series A
LTRPA
|
+$6.3M |
| 3 |
Fidelity National Financial
FNF
|
+$6.14M |
| 4 |
United Rentals
URI
|
+$5.71M |
| 5 |
Stewart Information Services
STC
|
+$5.05M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 13.46% |
| 2 | Financials | 7.61% |
| 3 | Healthcare | 4.5% |
| 4 | Industrials | 2.39% |
| 5 | Technology | 2.34% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
iShares Russell 2000 ETF
IWM
$80.3B
| $77.8M | 10.91% |
650,000
+95,000
| +17% | +$10.9M |
|
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$781B
| $62.7M | 8.8% |
305,000
-110,000
| -27% | -$22.1M |
|
|
LNW
3
CALL
DELISTED
Light & Wonder
LNW
| $33.2M | 4.66% |
2,608,400
+593,600
| +29% | +$7.15M |
|
|
4
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$781B
| $32.9M | 4.62% |
+160,000
| New | +$32.2M |
|
5
PUT
SPDR Gold Trust
GLD
$132B
| $27.9M | 3.91% |
245,500
| – | – |
|
|
SHLD
6
CALL
DELISTED
Sears Holding Corporation
SHLD
| $19.9M | 2.79% |
403,800
-29,753
| -7% | -$976K |
|
|
LTM
7
DELISTED
LIFE TIME FITNESS INC
LTM
| $15.9M | 2.23% |
280,750
-92,627
| -25% | -$4.96M |
|
|
DRII
8
DELISTED
DIAMOND RESORTS INTL, INC
DRII
| $14.1M | 1.98% |
504,404
-191,126
| -27% | -$4.71M |
|
|
LNW
9
DELISTED
Light & Wonder
LNW
| $14M | 1.97% |
1,102,331
+266,247
| +32% | +$3.21M |
|
|
ESI
10
CALL
DELISTED
ITT EDUCATIONAL SERVICES INC
ESI
| $13.4M | 1.87% |
1,390,000
+8,400
| +0.6% | +$71.6K |
|
11
News Corp Class A
NWSA
$14.8B
| $13.1M | 1.84% |
837,800
+102,800
| +14% | +$1.58M |
|
|
DF
12
CALL
DELISTED
Dean Foods Company
DF
| $12.5M | 1.76% |
646,800
-800
| -0.1% | -$12.7K |
|
13
PUT
iShares Biotechnology ETF
IBB
$9.44B
| $12.5M | 1.76% |
123,900
-315,000
| -72% | -$30.6M |
|
|
SCLN
14
DELISTED
Sciclone Pharmaceuticals Inc
SCLN
| $12.2M | 1.71% |
1,389,525
-480,842
| -26% | -$3.89M |
|
|
15
The Bancorp
TBBK
$2.81B
| $11.8M | 1.65% |
1,079,289
+342,029
| +46% | +$3.21M |
|
|
AL
16
CALL
DELISTED
Air Lease Corp
AL
| $10.8M | 1.52% |
316,200
+16,200
| +5% | +$570K |
|
|
17
Regional Management Corp
RM
$386M
| $10.3M | 1.45% |
653,996
+223,072
| +52% | +$3.33M |
|
|
LVNTA
18
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
| $10.1M | 1.42% |
267,835
+81,835
| +44% | +$2.86M |
|
|
VER
19
DELISTED
VEREIT, Inc.
VER
| $9.5M | 1.33% |
+210,000
| New | +$10.3M |
|
|
ZVO
20
DELISTED
Zovio Inc. Common Stock
ZVO
| $9.41M | 1.32% |
830,969
+133,588
| +19% | +$1.52M |
|
21
Codexis
CDXS
$141M
| $9.34M | 1.31% |
3,706,660
+219,807
| +6% | +$524K |
|
22
Crocs
CROX
$6.69B
| $9.25M | 1.3% |
740,610
+65,500
| +10% | +$810K |
|
|
IFT
23
DELISTED
IMPERIAL HLDGS INC COM STK (FL)
IFT
| $9.03M | 1.27% |
1,385,460
-119,900
| -8% | -$756K |
|
|
PGTI
24
DELISTED
PGT, Inc.
PGTI
| $8.43M | 1.18% |
875,731
+113,760
| +15% | +$1.06M |
|
|
LNKD
25
PUT
DELISTED
LinkedIn Corporation
LNKD
| $8.25M | 1.16% |
35,900
| – | – |
|
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BCM
Nantahala Capital Management's Q4 2014 Portfolio in Review
As of Q4 2014, Nantahala Capital Management held 114 positions worth $713M, down 13% from $815M the previous quarter. Its ten largest holdings account for 44% of the portfolio.
Nantahala Capital Management withdrew a net $188M in Q4 2014, closing 30 positions and reducing 25 holdings. Its most notable exit was Liberty TripAdvisor Holdings, Inc. Series A, an estimated $6.3M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 13% of assets, down from 14% a quarter earlier, followed by Financials and Healthcare.
Against the trend, Nantahala Capital Management opened a new position in VEREIT, Inc. worth $9.5M.
- Nantahala Capital Management's largest Q4 2014 buy was VEREIT, Inc.: 210,000 shares worth $9.5M.
- Nantahala Capital Management added most to Regional Management Corp in Q4 2014, an estimated $3.33M increase.
- Nantahala Capital Management's biggest Q4 2014 reduction was Lennar Class B, cutting an estimated $10.3M.
- Nantahala Capital Management fully exited Liberty TripAdvisor Holdings, Inc. Series A in Q4 2014, selling an estimated $6.3M.
- Nantahala Capital Management's ten largest holdings make up 44% of its $713M portfolio in Q4 2014.
- Nantahala Capital Management opened 14 new positions and closed 30 in Q4 2014.
- Nantahala Capital Management's portfolio value fell 13% quarter-over-quarter to $713M.
Based on Nantahala Capital Management's 13F filing for Q4 2014, filed 17 Feb 2015.