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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
+5.46%
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
$601M
AUM Growth
-$111M
Cap. Flow
-$146M
Cap. Flow %
-24.23%
Top 10 Hldgs %
46.64%
Holding
97
New
13
Increased
32
Reduced
18
Closed
22

Top Buys

Rank Stock Value
1
CASH icon
Pathward Financial
CASH
+$6.62M
2
FCFS icon
FirstCash
FCFS
+$5.22M
3
QADA
QAD Inc.
QADA
+$5.22M
4
LNW
Light & Wonder
LNW
+$4.45M
5
ESI
ITT EDUCATIONAL SERVICES INC
ESI
+$3.62M

Top Sells

Rank Stock Value
1
LTM
LIFE TIME FITNESS INC
LTM
+$11.5M
2
VER
VEREIT, Inc.
VER
+$9.5M
3
PGTI
PGT, Inc.
PGTI
+$8.43M
4
BIRT
Actuate Corp
BIRT
+$7.83M
5
CSBK
Clifton Bancorp Inc.
CSBK
+$6.62M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 16.37%
2 Financials 8.77%
3 Healthcare 7.63%
4 Technology 3.86%
5 Consumer Staples 3.48%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IWM icon
1
PUT
iShares Russell 2000 ETF
IWM
$80.4B
$93.3M 15.52%
750,000
+100,000
+15% +$12.1M
SPY icon
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$782B
$53.7M 8.93%
260,000
-45,000
-15% -$9.29M
LNW
3
CALL
DELISTED
Light & Wonder
LNW
$27.2M 4.53%
2,600,000
-8,400
-0.3% -$106K
CDXS icon
4
Codexis
CDXS
$163M
$16.7M 2.78%
3,662,918
-43,742
-1% -$154K
LNW
5
DELISTED
Light & Wonder
LNW
$15.2M 2.53%
1,455,151
+352,820
+32% +$4.45M
SCLN
6
DELISTED
Sciclone Pharmaceuticals Inc
SCLN
$13.5M 2.24%
1,522,625
+133,100
+10% +$1.06M
DRII
7
DELISTED
DIAMOND RESORTS INTL, INC
DRII
$12.2M 2.03%
365,008
-139,396
-28% -$4.38M
NWSA icon
8
News Corp Class A
NWSA
$15.4B
$11.8M 1.97%
737,800
-100,000
-12% -$1.62M
CROX icon
9
Crocs
CROX
$6.63B
$11.3M 1.89%
960,047
+219,437
+30% +$2.46M
XBI icon
10
CALL
State Street SPDR S&P Biotech ETF
XBI
$10.2B
$11.3M 1.88%
+150,000
New +$10.5M
TBBK icon
11
The Bancorp
TBBK
$2.85B
$11M 1.83%
1,217,689
+138,400
+13% +$1.26M
ORM
12
DELISTED
Owens Realty Mortgage, Inc.
ORM
$10.7M 1.78%
714,088
+172,749
+32% +$2.39M
ZVO
13
DELISTED
Zovio Inc. Common Stock
ZVO
$10.6M 1.77%
1,100,995
+270,026
+32% +$2.72M
ESI
14
CALL
DELISTED
ITT EDUCATIONAL SERVICES INC
ESI
$10M 1.67%
1,479,600
+89,600
+6% +$701K
IFT
15
DELISTED
IMPERIAL HLDGS INC COM STK (FL)
IFT
$9.66M 1.61%
1,385,460
– –
LVNTA
16
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
$9.16M 1.52%
218,035
-49,800
-19% -$1.93M
QADA
17
DELISTED
QAD Inc.
QADA
$8.75M 1.46%
361,685
+244,501
+209% +$5.22M
CRWN
18
DELISTED
CROWN MEDIA HOLDINGS INC CL-A
CRWN
$8.59M 1.43%
2,148,126
+145,074
+7% +$513K
KSPN
19
DELISTED
Kaspien Holdings Inc. Common Stock
KSPN
$8.36M 1.39%
112,899
+582
+0.5% +$41.1K
RM icon
20
Regional Management Corp
RM
$391M
$7.54M 1.25%
510,502
-143,494
-22% -$2.21M
CASH icon
21
Pathward Financial
CASH
$1.86B
$7.42M 1.23%
+560,130
New +$6.62M
SODA
22
DELISTED
SodaStream International Ltd
SODA
$7.39M 1.23%
365,000
+116,600
+47% +$2.2M
WRLD icon
23
CALL
World Acceptance Corp
WRLD
$897M
$7.29M 1.21%
100,000
– –
CTRN icon
24
Citi Trends
CTRN
$557M
$6.78M 1.13%
251,145
+80,600
+47% +$2.04M
RLGT icon
25
Radiant Logistics
RLGT
$412M
$6.73M 1.12%
1,299,360
+45,842
+4% +$217K
1
2 3 4

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Nantahala Capital Management's Q1 2015 Portfolio in Review

As of Q1 2015, Nantahala Capital Management held 97 positions worth $601M, down 16% from $713M the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Nantahala Capital Management withdrew a net $146M in Q1 2015, closing 22 positions and reducing 18 holdings. Its most notable exit was VEREIT, Inc., an estimated $9.5M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 16% of assets, up from 13% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Nantahala Capital Management opened a new position in Pathward Financial worth $7.42M.

  • Nantahala Capital Management's largest Q1 2015 buy was Pathward Financial: 560,130 shares worth $7.42M.
  • Nantahala Capital Management added most to QAD Inc. in Q1 2015, an estimated $5.22M increase.
  • Nantahala Capital Management's biggest Q1 2015 reduction was LIFE TIME FITNESS INC, cutting an estimated $11.5M.
  • Nantahala Capital Management fully exited VEREIT, Inc. in Q1 2015, selling an estimated $9.5M.
  • Nantahala Capital Management's ten largest holdings make up 47% of its $601M portfolio in Q1 2015.
  • Nantahala Capital Management opened 13 new positions and closed 22 in Q1 2015.
  • Nantahala Capital Management's portfolio value fell 16% quarter-over-quarter to $601M.

Based on Nantahala Capital Management's 13F filing for Q1 2015, filed 15 May 2015.