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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
-33.26%
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
$2.67B
AUM Growth
-$576M
Cap. Flow
+$898M
Cap. Flow %
33.65%
Top 10 Hldgs %
56.27%
Holding
114
New
27
Increased
37
Reduced
12
Closed
9

Top Buys

Rank Stock Value
1
RH icon
RH
RH
+$85.8M
2
W icon
Wayfair
W
+$72.3M
3
HCA icon
HCA Healthcare
HCA
+$41.4M
4
VG
Vonage Holdings Corporation
VG
+$35.2M
5
VAC icon
Marriott Vacations Worldwide
VAC
+$31.9M

Top Sells

Rank Stock Value
1
ARQL
Arqule Inc
ARQL
+$131M
2
ARYAU
ARYA Sciences Acquisiton Corp. Unit
ARYAU
+$5.21M
3
QADA
QAD Inc.
QADA
+$3.64M
4
EVRI
Everi Holdings
EVRI
+$3.36M
5
ELVT
Elevate Credit, Inc.
ELVT
+$2.15M

Sector Composition

Rank Sector Weight
1 Healthcare 17%
2 Consumer Discretionary 10.32%
3 Industrials 5.14%
4 Technology 4.37%
5 Financials 3.42%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IWM icon
1
PUT
iShares Russell 2000 ETF
IWM
$81.4B
$515M 19.29%
4,500,000
+150,000
+3% +$22.4M
IWM icon
2
CALL
iShares Russell 2000 ETF
IWM
$81.4B
$320M 12%
+2,800,000
New +$417M
HYG icon
3
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.6B
$193M 7.22%
+2,500,000
New +$211M
CVNA icon
4
CALL
Carvana
CVNA
$69.7B
$101M 3.77%
9,129,500
+1,376,000
+18% +$21.3M
QURE icon
5
uniQure
QURE
$3.08B
$81.1M 3.04%
1,709,272
+377,434
+28% +$21.7M
W icon
6
Wayfair
W
$11.7B
$69.9M 2.62%
1,307,870
+945,000
+260% +$72.3M
CDXS icon
7
Codexis
CDXS
$154M
$59.9M 2.24%
5,363,484
– –
W icon
8
CALL
Wayfair
W
$11.7B
$59.5M 2.23%
1,113,300
+813,300
+271% +$62.2M
VAC icon
9
Marriott Vacations Worldwide
VAC
$3.44B
$53.6M 2.01%
965,079
+306,817
+47% +$31.9M
AKBA icon
10
Akebia Therapeutics
AKBA
$357M
$49.7M 1.86%
6,559,478
-177,642
-3% -$1.38M
RH icon
11
RH
RH
$3.19B
$48M 1.8%
478,180
+460,387
+2,587% +$85.8M
QADA
12
DELISTED
QAD Inc.
QADA
$46.9M 1.76%
1,173,868
-76,854
-6% -$3.64M
LNW
13
CALL
DELISTED
Light & Wonder
LNW
$45.4M 1.7%
4,678,600
-1,311,800
-22% -$26.8M
DLB icon
14
Dolby
DLB
$5.6B
$45.4M 1.7%
836,693
+315,000
+60% +$20.6M
QURE icon
15
CALL
uniQure
QURE
$3.08B
$43.3M 1.62%
912,500
-242,500
-21% -$13.9M
HCA icon
16
PUT
HCA Healthcare
HCA
$88.5B
$42.2M 1.58%
470,000
+150,000
+47% +$19.4M
CASH icon
17
Pathward Financial
CASH
$1.9B
$39.1M 1.46%
1,799,727
– –
APTO
18
DELISTED
Aptose Biosciences, Inc.
APTO
$37.4M 1.4%
13,998
+545
+4% +$1.63M
CUE icon
19
Cue Biopharma
CUE
$113M
$35.5M 1.33%
83,461
+36,630
+78% +$17.8M
THC icon
20
CALL
Tenet Healthcare
THC
$20.4B
$34.6M 1.3%
2,402,500
-196,500
-8% -$5.64M
LXFR icon
21
Luxfer Holdings
LXFR
$456M
$34.4M 1.29%
2,432,531
– –
KRE icon
22
PUT
State Street SPDR S&P Regional Banking ETF
KRE
$4.68B
$32.6M 1.22%
+1,000,000
New +$49M
VG
23
DELISTED
Vonage Holdings Corporation
VG
$31.2M 1.17%
+4,320,800
New +$35.2M
THC icon
24
Tenet Healthcare
THC
$20.4B
$30.7M 1.15%
2,131,171
+1,029,257
+93% +$29.5M
HCA icon
25
HCA Healthcare
HCA
$88.5B
$28.7M 1.07%
+319,434
New +$41.4M
1
2 3 4 5

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Nantahala Capital Management's Q1 2020 Portfolio in Review

As of Q1 2020, Nantahala Capital Management held 114 positions worth $2.67B, down 18% from $3.25B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Nantahala Capital Management deployed $898M of net new capital in Q1 2020, opening 27 new positions and adding to 37 existing holdings. Its largest new stake was HCA Healthcare: 319,434 shares worth $28.7M.

By sector, the portfolio is most concentrated in Healthcare at 17% of assets, down from 18% a quarter earlier, followed by Consumer Discretionary and Industrials.

On the sell side, the largest reduction was QAD Inc., an estimated $3.64M trimmed.

  • Nantahala Capital Management's largest Q1 2020 buy was HCA Healthcare: 319,434 shares worth $28.7M.
  • Nantahala Capital Management added most to RH in Q1 2020, an estimated $85.8M increase.
  • Nantahala Capital Management's biggest Q1 2020 reduction was QAD Inc., cutting an estimated $3.64M.
  • Nantahala Capital Management fully exited Arqule Inc in Q1 2020, selling an estimated $131M.
  • Nantahala Capital Management's ten largest holdings make up 56% of its $2.67B portfolio in Q1 2020.
  • Nantahala Capital Management opened 27 new positions and closed 9 in Q1 2020.
  • Nantahala Capital Management's portfolio value fell 18% quarter-over-quarter to $2.67B.

Based on Nantahala Capital Management's 13F filing for Q1 2020, filed 14 May 2020.