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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
+1.74%
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
$898M
AUM Growth
-$65.5M
Cap. Flow
-$124M
Cap. Flow %
-13.83%
Top 10 Hldgs %
59.34%
Holding
67
New
9
Increased
17
Reduced
20
Closed
12

Top Buys

Rank Stock Value
1
WRLD icon
World Acceptance Corp
WRLD
+$21.2M
2
ENT
Global Eagle Entertainment Inc.
ENT
+$11.8M
3
FNTEU
FinTech Acquisition Corp. II Unit
FNTEU
+$5.06M
4
CASH icon
Pathward Financial
CASH
+$4.73M
5
CRMT icon
America's Car Mart
CRMT
+$3.23M

Top Sells

Rank Stock Value
1
LNW
Light & Wonder
LNW
+$18.7M
2
SODA
SodaStream International Ltd
SODA
+$13.5M
3
RH icon
RH
RH
+$11.3M
4
CZR icon
Caesars Entertainment
CZR
+$10.7M
5
ALT icon
Altimmune
ALT
+$10.4M

Sector Composition

Rank Sector Weight
1 Financials 16.19%
2 Healthcare 10.11%
3 Consumer Discretionary 8.51%
4 Industrials 8.4%
5 Energy 5.42%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IWM icon
1
PUT
iShares Russell 2000 ETF
IWM
$80.3B
$100M 11.18%
730,000
-860,000
-54% -$117M
SPY icon
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$783B
$70.7M 7.88%
+300,000
New +$69.7M
LNW
3
CALL
DELISTED
Light & Wonder
LNW
$69.5M 7.75%
2,940,000
-1,658,200
-36% -$32M
DLB icon
4
Dolby
DLB
$4.8B
$47.3M 5.27%
902,507
-25,400
-3% -$1.26M
DLB icon
5
CALL
Dolby
DLB
$4.8B
$47.2M 5.25%
900,000
+500,000
+125% +$24.7M
YHOO
6
DELISTED
Yahoo Inc
YHOO
$44.1M 4.91%
950,425
+67,649
+8% +$3.02M
FCFS icon
7
FirstCash
FCFS
$8.7B
$43.4M 4.84%
883,772
+19,300
+2% +$858K
CASH icon
8
Pathward Financial
CASH
$1.84B
$38.8M 4.32%
1,313,841
+152,883
+13% +$4.73M
SODA
9
DELISTED
SodaStream International Ltd
SODA
$36M 4.01%
742,843
-297,974
-29% -$13.5M
SPY icon
10
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$783B
$35.4M 3.94%
+150,000
New +$34.9M
CDXS icon
11
Codexis
CDXS
$139M
$28.8M 3.21%
5,998,322
+396,281
+7% +$1.81M
AKBA icon
12
Akebia Therapeutics
AKBA
$343M
$21M 2.34%
2,280,531
+48,123
+2% +$470K
ZVO
13
DELISTED
Zovio Inc. Common Stock
ZVO
$20.8M 2.31%
1,946,761
+172,563
+10% +$1.77M
WRLD icon
14
World Acceptance Corp
WRLD
$923M
$20.4M 2.27%
+394,354
New +$21.2M
QADA
15
DELISTED
QAD Inc.
QADA
$19.7M 2.2%
708,954
-50,000
-7% -$1.44M
TBBK icon
16
The Bancorp
TBBK
$2.82B
$19.1M 2.12%
3,739,697
+226,000
+6% +$1.29M
LXFR icon
17
Luxfer Holdings
LXFR
$461M
$18.9M 2.11%
1,556,293
+19,000
+1% +$216K
SCLN
18
DELISTED
Sciclone Pharmaceuticals Inc
SCLN
$18.5M 2.06%
1,891,328
-277,715
-13% -$2.77M
RH icon
19
CALL
RH
RH
$3.41B
$18.5M 2.06%
400,000
-300,000
-43% -$9.28M
GDEN
20
DELISTED
Golden Entertainment
GDEN
$14.2M 1.58%
1,071,329
+57,469
+6% +$691K
CTRN icon
21
Citi Trends
CTRN
$542M
$11.7M 1.31%
689,352
-118,997
-15% -$2.07M
ORM
22
DELISTED
Owens Realty Mortgage, Inc.
ORM
$11.5M 1.28%
647,403
-7,565
-1% -$131K
ARQL
23
DELISTED
Arqule Inc
ARQL
$10.3M 1.15%
9,700,043
+366,502
+4% +$489K
ONDK
24
DELISTED
On Deck Capital, Inc.
ONDK
$8.95M 1%
1,776,026
+18,900
+1% +$94.5K
CCN
25
DELISTED
CardConnect Corp.
CCN
$8.92M 0.99%
675,926
-262,882
-28% -$3.61M
1
2 3

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CA
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MASUI
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Nantahala Capital Management's Q1 2017 Portfolio in Review

As of Q1 2017, Nantahala Capital Management held 67 positions worth $898M, down 6.8% from $963M the previous quarter. Its ten largest holdings account for 59% of the portfolio.

Nantahala Capital Management withdrew a net $124M in Q1 2017, closing 12 positions and reducing 20 holdings. Its most notable exit was RH, an estimated $11.3M position sold in full.

By sector, the portfolio is most concentrated in Financials at 16% of assets, up from 14% a quarter earlier, followed by Healthcare and Consumer Discretionary.

Against the trend, Nantahala Capital Management opened a new position in World Acceptance Corp worth $20.4M.

  • Nantahala Capital Management's largest Q1 2017 buy was World Acceptance Corp: 394,354 shares worth $20.4M.
  • Nantahala Capital Management added most to Pathward Financial in Q1 2017, an estimated $4.73M increase.
  • Nantahala Capital Management's biggest Q1 2017 reduction was Light & Wonder, cutting an estimated $18.7M.
  • Nantahala Capital Management fully exited RH in Q1 2017, selling an estimated $11.3M.
  • Nantahala Capital Management's ten largest holdings make up 59% of its $898M portfolio in Q1 2017.
  • Nantahala Capital Management opened 9 new positions and closed 12 in Q1 2017.
  • Nantahala Capital Management's portfolio value fell 6.8% quarter-over-quarter to $898M.

Based on Nantahala Capital Management's 13F filing for Q1 2017, filed 15 May 2017.