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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
-2.79%
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
$3.17B
AUM Growth
-$346M
Cap. Flow
-$135M
Cap. Flow %
-4.27%
Top 10 Hldgs %
44.56%
Holding
148
New
27
Increased
24
Reduced
52
Closed
18

Top Buys

Rank Stock Value
1
IWM icon
iShares Russell 2000 ETF
IWM
+$22.1M
2
SMLR
Semler Scientific
SMLR
+$18.4M
3
TSHA icon
Taysha Gene Therapies
TSHA
+$15.5M
4
FTCV
FinTech Acquisition Corp. V Class A Common Stock
FTCV
+$10.5M
5
IMAX icon
IMAX
IMAX
+$10.4M

Top Sells

Rank Stock Value
1
VG
Vonage Holdings Corporation
VG
+$18.9M
2
LNW
Light & Wonder
LNW
+$15.3M
3
PWP icon
Perella Weinberg Partners
PWP
+$13.7M
4
FTCVU
FinTech Acquisition Corp. V Unit
FTCVU
+$13.1M
5
PAYO icon
Payoneer
PAYO
+$11.2M

Sector Composition

Rank Sector Weight
1 Healthcare 24.07%
2 Consumer Discretionary 8.35%
3 Technology 4.89%
4 Financials 4.19%
5 Communication Services 4.05%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IWM icon
1
PUT
iShares Russell 2000 ETF
IWM
$79.8B
$481M 15.17%
2,200,000
+200,000
+10% +$44.3M
W icon
2
CALL
Wayfair
W
$11.2B
$206M 6.5%
807,700
-496,300
-38% -$140M
ESTA icon
3
Establishment Labs
ESTA
$2.72B
$147M 4.64%
2,057,039
+129,775
+7% +$9.56M
LNW
4
CALL
DELISTED
Light & Wonder
LNW
$130M 4.08%
1,559,300
– –
CDXS icon
5
Codexis
CDXS
$151M
$87.2M 2.75%
3,749,241
-111,991
-3% -$2.65M
TLT icon
6
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$42.1B
$86.6M 2.73%
600,000
-600,000
-50% -$89.1M
QADA
7
DELISTED
QAD Inc.
QADA
$81M 2.55%
926,756
– –
QURE icon
8
CALL
uniQure
QURE
$3.03B
$67.4M 2.12%
2,105,900
– –
CAR icon
9
PUT
Avis
CAR
$4.86B
$64.1M 2.02%
+550,000
New +$48.5M
TA
10
DELISTED
TravelCenters of America LLC
TA
$63.4M 2%
1,272,570
-18,328
-1% -$687K
XBI icon
11
PUT
State Street SPDR S&P Biotech ETF
XBI
$9.95B
$62.9M 1.98%
500,000
+100,000
+25% +$12.9M
CVNA icon
12
CALL
Carvana
CVNA
$68.6B
$61.4M 1.94%
1,018,500
– –
CASH icon
13
Pathward Financial
CASH
$1.86B
$60.4M 1.9%
1,151,305
+77,369
+7% +$3.85M
THC icon
14
CALL
Tenet Healthcare
THC
$20.5B
$58.2M 1.83%
875,900
– –
QURE icon
15
uniQure
QURE
$3.03B
$56.3M 1.77%
1,759,218
-3,548
-0.2% -$108K
MLKN icon
16
MillerKnoll
MLKN
$1.53B
$55.3M 1.74%
1,468,766
+102,500
+8% +$4.4M
TNL icon
17
CALL
Travel + Leisure Co
TNL
$4.66B
$54.5M 1.72%
+1,000,000
New +$54.7M
IMAX icon
18
IMAX
IMAX
$2.62B
$53.5M 1.68%
2,816,492
+625,002
+29% +$10.4M
TNL icon
19
Travel + Leisure Co
TNL
$4.66B
$50.8M 1.6%
932,294
+102,202
+12% +$5.59M
SNDX icon
20
Syndax Pharmaceuticals
SNDX
$1.69B
$50.8M 1.6%
2,657,159
+63,822
+2% +$1.06M
VG
21
DELISTED
Vonage Holdings Corporation
VG
$47.8M 1.5%
2,962,298
-1,304,842
-31% -$18.9M
MRK icon
22
CALL
Merck
MRK
$322B
$45.1M 1.42%
+600,000
New +$45.6M
GDEN
23
DELISTED
Golden Entertainment
GDEN
$44.2M 1.39%
901,237
+175,210
+24% +$8.15M
LXFR icon
24
Luxfer Holdings
LXFR
$456M
$41.5M 1.31%
2,112,728
+19,704
+0.9% +$406K
CUE icon
25
Cue Biopharma
CUE
$113M
$37.5M 1.18%
85,703
-3,553
-4% -$1.24M
1
2 3 4 5

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Nantahala Capital Management's Q3 2021 Portfolio in Review

As of Q3 2021, Nantahala Capital Management held 148 positions worth $3.17B, down 9.8% from $3.52B the previous quarter. Its ten largest holdings account for 45% of the portfolio.

Nantahala Capital Management withdrew a net $135M in Q3 2021, closing 18 positions and reducing 52 holdings. Its most notable exit was FinTech Acquisition Corp. V Unit, an estimated $13.1M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 24% of assets, up from 23% a quarter earlier, followed by Consumer Discretionary and Technology.

Against the trend, Nantahala Capital Management opened a new position in iShares Russell 2000 ETF worth $21.8M.

  • Nantahala Capital Management's largest Q3 2021 buy was iShares Russell 2000 ETF: 99,593 shares worth $21.8M.
  • Nantahala Capital Management added most to Taysha Gene Therapies in Q3 2021, an estimated $15.5M increase.
  • Nantahala Capital Management's biggest Q3 2021 reduction was Vonage Holdings Corporation, cutting an estimated $18.9M.
  • Nantahala Capital Management fully exited FinTech Acquisition Corp. V Unit in Q3 2021, selling an estimated $13.1M.
  • Nantahala Capital Management's ten largest holdings make up 45% of its $3.17B portfolio in Q3 2021.
  • Nantahala Capital Management opened 27 new positions and closed 18 in Q3 2021.
  • Nantahala Capital Management's portfolio value fell 9.8% quarter-over-quarter to $3.17B.

Based on Nantahala Capital Management's 13F filing for Q3 2021, filed 15 Nov 2021.