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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
+19.64%
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
$2.47B
AUM Growth
+$251M
Cap. Flow
+$92.9M
Cap. Flow %
3.76%
Top 10 Hldgs %
47.29%
Holding
93
New
13
Increased
28
Reduced
15
Closed
4

Top Buys

Rank Stock Value
1
WRLD icon
World Acceptance Corp
WRLD
+$14.4M
2
IOVA icon
Iovance Biotherapeutics
IOVA
+$12.1M
3
AKBA icon
Akebia Therapeutics
AKBA
+$11.4M
4
XELA
Exela Technologies, Inc. Common Stock
XELA
+$10.2M
5
ZVO
Zovio Inc. Common Stock
ZVO
+$9.12M

Top Sells

Rank Stock Value
1
SIGA icon
SIGA Technologies
SIGA
+$23M
2
CGNT
Cogentix Medical, Inc.
CGNT
+$14M
3
AGS
PlayAGS
AGS
+$9.28M
4
QURE icon
uniQure
QURE
+$2.67M
5
THC icon
Tenet Healthcare
THC
+$1.69M

Sector Composition

Rank Sector Weight
1 Miscellaneous 48.8%
2 Healthcare 18.97%
3 Financials 8.26%
4 Consumer Discretionary 7.27%
5 Industrials 6.87%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IWM icon
1
PUT
iShares Russell 2000 ETF
IWM
$78.8B
$328M 13.26%
2,000,000
-670,000
-25% -$107M
STLA icon
2
CALL
Stellantis
STLA
$15.8B
$136M 5.51%
7,200,000
+4,000,000
+125% +$87.6M
LNW
3
CALL
DELISTED
Light & Wonder
LNW
$112M 4.53%
2,276,500
-1,468,700
-39% -$77.5M
EXAS
4
PUT
DELISTED
Exact Sciences
EXAS
$112M 4.52%
1,868,800
-31,200
-2% -$1.68M
CDXS icon
5
Codexis
CDXS
$158M
$96.2M 3.89%
6,679,954
– –
SPY icon
6
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$809B
$94.9M 3.84%
350,000
– –
AABA
7
DELISTED
Altaba Inc
AABA
$85.8M 3.47%
1,171,691
– –
WRLD icon
8
World Acceptance Corp
WRLD
$882M
$68.5M 2.77%
616,705
+131,742
+27% +$14.4M
QURE icon
9
CALL
uniQure
QURE
$3.11B
$68M 2.75%
1,800,000
+1,300,000
+260% +$41.6M
ARQL
10
DELISTED
Arqule Inc
ARQL
$67.6M 2.74%
12,222,130
– –
QURE icon
11
uniQure
QURE
$3.11B
$66.4M 2.69%
1,756,439
-83,335
-5% -$2.67M
THC icon
12
Tenet Healthcare
THC
$21.4B
$53.9M 2.18%
1,604,325
-54,375
-3% -$1.69M
GDEN
13
DELISTED
Golden Entertainment
GDEN
$52.8M 2.14%
1,957,510
+113,183
+6% +$3.16M
XBI icon
14
PUT
State Street SPDR S&P Biotech ETF
XBI
$11.1B
$52.4M 2.12%
550,000
+350,000
+175% +$32.2M
RH icon
15
CALL
RH
RH
$2.59B
$48.4M 1.96%
346,100
-200,000
-37% -$21.7M
CASH icon
16
Pathward Financial
CASH
$1.64B
$46.7M 1.89%
1,439,442
-6,000
-0.4% -$218K
LXFR icon
17
Luxfer Holdings
LXFR
$463M
$46.2M 1.87%
2,645,749
– –
AKBA icon
18
Akebia Therapeutics
AKBA
$267M
$45.1M 1.83%
4,523,111
+1,136,968
+34% +$11.4M
DLB icon
19
Dolby
DLB
$5.95B
$38.6M 1.56%
625,270
+133,000
+27% +$8.46M
SODA
20
CALL
DELISTED
SodaStream International Ltd
SODA
$38.4M 1.55%
450,000
– –
QADA
21
DELISTED
QAD Inc.
QADA
$34.4M 1.39%
686,814
– –
PRTY
22
DELISTED
Party City Holdco Inc.
PRTY
$32.6M 1.32%
2,137,401
+340,000
+19% +$5.22M
XELA
23
DELISTED
Exela Technologies, Inc. Common Stock
XELA
$31.6M 1.28%
555
+176
+46% +$10.2M
NTRI
24
PUT
DELISTED
NutriSystem, Inc.
NTRI
$30.8M 1.25%
+800,000
New +$26.5M
CURO
25
DELISTED
CURO Group Holdings Corp.
CURO
$30.7M 1.24%
1,229,999
+234,400
+24% +$5.15M
1
2 3 4

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Nantahala Capital Management's Q2 2018 Portfolio in Review

As of Q2 2018, Nantahala Capital Management held 93 positions worth $2.47B, up 11% from $2.22B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Nantahala Capital Management deployed $92.9M of net new capital in Q2 2018, opening 13 new positions and adding to 28 existing holdings. Its largest new stake was Iovance Biotherapeutics: 825,000 shares worth $10.6M.

By sector, the portfolio is most concentrated in Miscellaneous at 49% of assets, down from 54% a quarter earlier, followed by Healthcare and Financials.

On the sell side, the largest reduction was SIGA Technologies, an estimated $23M trimmed.

  • Nantahala Capital Management's largest Q2 2018 buy was Iovance Biotherapeutics: 825,000 shares worth $10.6M.
  • Nantahala Capital Management added most to World Acceptance Corp in Q2 2018, an estimated $14.4M increase.
  • Nantahala Capital Management's biggest Q2 2018 reduction was SIGA Technologies, cutting an estimated $23M.
  • Nantahala Capital Management fully exited Cogentix Medical, Inc. in Q2 2018, selling an estimated $14M.
  • Nantahala Capital Management's ten largest holdings make up 47% of its $2.47B portfolio in Q2 2018.
  • Nantahala Capital Management opened 13 new positions and closed 4 in Q2 2018.
  • Nantahala Capital Management's portfolio value rose 11% quarter-over-quarter to $2.47B.

Based on Nantahala Capital Management's 13F filing for Q2 2018, filed 14 Aug 2018.