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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
+27.26%
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
$3.21B
AUM Growth
-$44.1M
(-1.4%)
Cap. Flow
-$583M
Cap. Flow
% of AUM
-18.18%
Top 10 Holdings %
Top 10 Hldgs %
55.32%
Holding
109
New
11
Increased
19
Reduced
40
Closed
18
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
RH
RH
|
+$41.7M |
| 2 |
Spectrum Brands
SPB
|
+$19.8M |
| 3 |
RadNet
RDNT
|
+$13.6M |
| 4 |
International Money Express
IMXI
|
+$10.5M |
| 5 |
RC
Ready Capital
RC
|
+$9.92M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
uniQure
QURE
|
+$42.9M |
| 2 |
Codexis
CDXS
|
+$23M |
| 3 |
Marriott Vacations Worldwide
VAC
|
+$16.3M |
| 4 |
Bank OZK
OZK
|
+$11.4M |
| 5 |
ORM
Owens Realty Mortgage, Inc.
ORM
|
+$11.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 17.06% |
| 2 | Consumer Discretionary | 6.9% |
| 3 | Financials | 6.03% |
| 4 | Industrials | 5.85% |
| 5 | Technology | 5.33% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
iShares Russell 2000 ETF
IWM
$79.1B
| $873M | 27.22% |
5,700,000
+1,070,300
| +23% | +$161M |
|
2
PUT
State Street SPDR S&P Biotech ETF
XBI
$10B
| $158M | 4.94% |
1,750,000
+750,000
| +75% | +$63.8M |
|
|
LNW
3
CALL
DELISTED
Light & Wonder
LNW
| $114M | 3.54% |
5,565,400
-1,402,900
| -20% | -$33.5M |
|
|
EXAS
4
PUT
DELISTED
Exact Sciences
EXAS
| $112M | 3.5% |
1,296,200
+186,200
| +17% | +$15.8M |
|
|
5
Codexis
CDXS
$158M
| $110M | 3.43% |
5,363,484
-1,186,316
| -18% | -$23M |
|
|
6
uniQure
QURE
$2.78B
| $90.6M | 2.83% |
1,518,690
-959,977
| -39% | -$42.9M |
|
7
CALL
Stellantis
STLA
$17.4B
| $84.2M | 2.63% |
5,670,000
-3,300,000
| -37% | -$50.7M |
|
8
CALL
Carvana
CVNA
$47.5B
| $84.2M | 2.63% |
7,250,000
| – | – |
|
9
World Acceptance Corp
WRLD
$861M
| $75.9M | 2.37% |
647,845
-94,100
| -13% | -$10.7M |
|
|
10
CALL
uniQure
QURE
$2.78B
| $71.6M | 2.23% |
1,200,000
+100,000
| +9% | +$4.47M |
|
11
CALL
Tenet Healthcare
THC
$22.2B
| $69.2M | 2.16% |
2,400,000
-575,000
| -19% | -$14.2M |
|
12
Luxfer Holdings
LXFR
$456M
| $65M | 2.03% |
2,601,749
-34,000
| -1% | -$682K |
|
|
AABA
13
DELISTED
Altaba Inc
AABA
| $63.8M | 1.99% |
860,464
-2,377
| -0.3% | -$164K |
|
|
14
Tenet Healthcare
THC
$22.2B
| $61.2M | 1.91% |
2,121,112
-352,000
| -14% | -$8.69M |
|
|
ARQL
15
DELISTED
Arqule Inc
ARQL
| $57.5M | 1.79% |
12,005,361
-96,518
| -0.8% | -$373K |
|
|
16
Marriott Vacations Worldwide
VAC
$3.53B
| $57.3M | 1.79% |
612,705
-181,391
| -23% | -$16.3M |
|
17
DXP Enterprises
DXPE
$2.3B
| $49.2M | 1.53% |
1,264,195
+116,231
| +10% | +$4.04M |
|
|
QADA
18
DELISTED
QAD Inc.
QADA
| $45.7M | 1.43% |
1,061,578
+52,869
| +5% | +$2.27M |
|
|
19
RH
RH
$3.33B
| $44.2M | 1.38% |
429,434
+306,265
| +249% | +$41.7M |
|
20
Akebia Therapeutics
AKBA
$338M
| $40.5M | 1.26% |
4,941,061
-123,028
| -2% | -$844K |
|
21
PUT
HCA Healthcare
HCA
$88.4B
| $39.1M | 1.22% |
300,000
-400,000
| -57% | -$53.7M |
|
|
22
Carvana
CVNA
$47.5B
| $36.8M | 1.15% |
3,168,570
-1,230,000
| -28% | -$10.4M |
|
|
23
International Money Express
IMXI
$389M
| $36.2M | 1.13% |
3,102,698
+929,142
| +43% | +$10.5M |
|
24
Pathward Financial
CASH
$1.88B
| $35.4M | 1.1% |
1,799,727
+15,500
| +0.9% | +$339K |
|
|
GDEN
25
DELISTED
Golden Entertainment
GDEN
| $34.7M | 1.08% |
2,449,713
-78,000
| -3% | -$1.37M |
|
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Nantahala Capital Management's Q1 2019 Portfolio in Review
As of Q1 2019, Nantahala Capital Management held 109 positions worth $3.21B, down 1.4% from $3.25B the previous quarter. Its ten largest holdings account for 55% of the portfolio.
Nantahala Capital Management withdrew a net $583M in Q1 2019, closing 18 positions and reducing 40 holdings. Its most notable exit was Bank OZK, an estimated $11.4M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 17% of assets, up from 14% a quarter earlier, followed by Consumer Discretionary and Financials.
Against the trend, Nantahala Capital Management opened a new position in Spectrum Brands worth $20.3M.
- Nantahala Capital Management's largest Q1 2019 buy was Spectrum Brands: 371,150 shares worth $20.3M.
- Nantahala Capital Management added most to RH in Q1 2019, an estimated $41.7M increase.
- Nantahala Capital Management's biggest Q1 2019 reduction was uniQure, cutting an estimated $42.9M.
- Nantahala Capital Management fully exited Bank OZK in Q1 2019, selling an estimated $11.4M.
- Nantahala Capital Management's ten largest holdings make up 55% of its $3.21B portfolio in Q1 2019.
- Nantahala Capital Management opened 11 new positions and closed 18 in Q1 2019.
- Nantahala Capital Management's portfolio value fell 1.4% quarter-over-quarter to $3.21B.
Based on Nantahala Capital Management's 13F filing for Q1 2019, filed 15 May 2019.