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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
+11.86%
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
$1.54B
AUM Growth
-$2.36M
Cap. Flow
-$96.2M
Cap. Flow %
-6.24%
Top 10 Hldgs %
55.26%
Holding
142
New
22
Increased
21
Reduced
44
Closed
24

Top Buys

Rank Stock Value
1
IWM icon
iShares Russell 2000 ETF
IWM
+$110M
2
HGV icon
Hilton Grand Vacations
HGV
+$16.3M
3
RDNW
RideNow Group
RDNW
+$13.5M
4
BVS icon
Bioventus
BVS
+$12.2M
5
IRON icon
Disc Medicine
IRON
+$7.68M

Top Sells

Rank Stock Value
1
COST icon
Costco
COST
+$40.9M
2
LNW
Light & Wonder
LNW
+$29.8M
3
DXPE icon
DXP Enterprises
DXPE
+$21.9M
4
MLKN icon
MillerKnoll
MLKN
+$11.2M
5
TNL icon
Travel + Leisure Co
TNL
+$11.2M

Sector Composition

Rank Sector Weight
1 Healthcare 31.93%
2 Consumer Discretionary 11.03%
3 Industrials 5.33%
4 Financials 4.5%
5 Technology 4.07%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IWM icon
1
PUT
iShares Russell 2000 ETF
IWM
$79.8B
$296M 19.21%
1,700,000
+565,000
+50% +$100M
IWM icon
2
iShares Russell 2000 ETF
IWM
$79.8B
$120M 7.81%
691,076
+615,706
+817% +$110M
ESTA icon
3
Establishment Labs
ESTA
$2.72B
$119M 7.72%
1,815,023
-69,407
-4% -$4.19M
QURE icon
4
uniQure
QURE
$3.03B
$61.2M 3.97%
2,700,239
-201,690
-7% -$4.35M
CASH icon
5
Pathward Financial
CASH
$1.86B
$56M 3.63%
1,301,198
-26,770
-2% -$1.1M
TA
6
DELISTED
TravelCenters of America LLC
TA
$46.2M 2.99%
1,031,394
-65,807
-6% -$3.41M
IMAX icon
7
IMAX
IMAX
$2.62B
$41M 2.66%
2,796,889
+93,553
+3% +$1.36M
APEN
8
DELISTED
Apollo Endosurgery, Inc.
APEN
$40.4M 2.62%
4,056,627
+82,721
+2% +$617K
KROS icon
9
Keros Therapeutics
KROS
$199M
$38M 2.47%
792,093
-53,599
-6% -$2.5M
LXFR icon
10
Luxfer Holdings
LXFR
$456M
$33.6M 2.18%
2,452,319
+114,714
+5% +$1.67M
IMAX icon
11
CALL
IMAX
IMAX
$2.62B
$32.1M 2.08%
2,191,300
– –
RDVT icon
12
Red Violet
RDVT
$979M
$29.4M 1.9%
1,275,088
-4,166
-0.3% -$84.8K
QURE icon
13
CALL
uniQure
QURE
$3.03B
$26.9M 1.75%
1,187,700
+187,700
+19% +$4.05M
SNDX icon
14
Syndax Pharmaceuticals
SNDX
$1.69B
$24.8M 1.61%
975,705
-399,723
-29% -$9.32M
IMTX icon
15
Immatics
IMTX
$1.18B
$23.9M 1.55%
2,748,527
+34,559
+1% +$357K
RMR icon
16
The RMR Group
RMR
$325M
$23.9M 1.55%
846,167
-65,138
-7% -$1.77M
TNL icon
17
Travel + Leisure Co
TNL
$4.66B
$22.9M 1.48%
628,479
-297,834
-32% -$11.2M
MLKN icon
18
MillerKnoll
MLKN
$1.53B
$21M 1.36%
1,001,425
-560,749
-36% -$11.2M
CDXS icon
19
Codexis
CDXS
$151M
$20.9M 1.36%
4,487,782
-16,227
-0.4% -$89K
APEN
20
CALL
DELISTED
Apollo Endosurgery, Inc.
APEN
$19.9M 1.29%
2,000,000
– –
PAYA
21
DELISTED
Paya Holdings Inc. Class A Common Stock
PAYA
$19.4M 1.26%
2,472,352
-465,001
-16% -$3.59M
DHX icon
22
DHI Group
DHX
$182M
$19.4M 1.26%
3,661,976
-429,768
-11% -$2.39M
PTON icon
23
Peloton Interactive
PTON
$2.77B
$19M 1.23%
2,395,184
+78,842
+3% +$756K
GDEN
24
DELISTED
Golden Entertainment
GDEN
$17.1M 1.11%
456,109
-25,856
-5% -$1.07M
HGV icon
25
Hilton Grand Vacations
HGV
$3.59B
$15.9M 1.03%
+413,200
New +$16.3M
1
2 3 4 5

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CA
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XL
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NB
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MASUI
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BCM
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Nantahala Capital Management's Q4 2022 Portfolio in Review

As of Q4 2022, Nantahala Capital Management held 142 positions worth $1.54B, down 0.15% from $1.55B the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Nantahala Capital Management withdrew a net $96.2M in Q4 2022, closing 24 positions and reducing 44 holdings. Its most notable exit was Costco, an estimated $40.9M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 32% of assets, up from 29% a quarter earlier, followed by Consumer Discretionary and Industrials.

Against the trend, Nantahala Capital Management opened a new position in Hilton Grand Vacations worth $15.9M.

  • Nantahala Capital Management's largest Q4 2022 buy was Hilton Grand Vacations: 413,200 shares worth $15.9M.
  • Nantahala Capital Management added most to iShares Russell 2000 ETF in Q4 2022, an estimated $110M increase.
  • Nantahala Capital Management's biggest Q4 2022 reduction was DXP Enterprises, cutting an estimated $21.9M.
  • Nantahala Capital Management fully exited Costco in Q4 2022, selling an estimated $40.9M.
  • Nantahala Capital Management's ten largest holdings make up 55% of its $1.54B portfolio in Q4 2022.
  • Nantahala Capital Management opened 22 new positions and closed 24 in Q4 2022.
  • Nantahala Capital Management's portfolio value fell 0.15% quarter-over-quarter to $1.54B.

Based on Nantahala Capital Management's 13F filing for Q4 2022, filed 14 Feb 2023.