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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
+12.61%
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
$1.31B
AUM Growth
-$238M
Cap. Flow
-$311M
Cap. Flow %
-23.85%
Top 10 Hldgs %
52.69%
Holding
138
New
20
Increased
29
Reduced
47
Closed
14

Top Buys

Rank Stock Value
1
QURE icon
uniQure
QURE
+$7.76M
2
CVT
Cvent Holding Corp. Common Stock
CVT
+$6.1M
3
APEN
Apollo Endosurgery, Inc.
APEN
+$5.13M
4
ILPT
Industrial Logistics Properties Trust
ILPT
+$4.93M
5
IMAX icon
IMAX
IMAX
+$4.42M

Top Sells

Rank Stock Value
1
IWM icon
iShares Russell 2000 ETF
IWM
+$92.1M
2
TA
TravelCenters of America LLC
TA
+$28.5M
3
PAYA
Paya Holdings Inc. Class A Common Stock
PAYA
+$19.4M
4
CNCE
Concert Pharmaceuticals, Inc.
CNCE
+$10.1M
5
ALTG icon
Alta Equipment Group
ALTG
+$9.43M

Sector Composition

Rank Sector Weight
1 Healthcare 38.41%
2 Consumer Discretionary 14.33%
3 Communication Services 6.54%
4 Financials 5.4%
5 Industrials 4.93%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IWM icon
1
PUT
iShares Russell 2000 ETF
IWM
$79.8B
$180M 13.81%
1,010,000
-690,000
-41% -$127M
ESTA icon
2
Establishment Labs
ESTA
$2.72B
$127M 9.72%
1,872,160
+57,137
+3% +$3.92M
QURE icon
3
uniQure
QURE
$3.03B
$61.8M 4.74%
3,070,361
+370,122
+14% +$7.76M
IMAX icon
4
IMAX
IMAX
$2.62B
$58.6M 4.49%
3,053,695
+256,806
+9% +$4.42M
CASH icon
5
Pathward Financial
CASH
$1.86B
$55.6M 4.26%
1,339,935
+38,737
+3% +$1.82M
TA
6
DELISTED
TravelCenters of America LLC
TA
$51.7M 3.97%
598,210
-433,184
-42% -$28.5M
APEN
7
DELISTED
Apollo Endosurgery, Inc.
APEN
$45.4M 3.48%
4,575,021
+518,394
+13% +$5.13M
LXFR icon
8
Luxfer Holdings
LXFR
$456M
$41.6M 3.19%
2,464,288
+11,969
+0.5% +$192K
IWM icon
9
iShares Russell 2000 ETF
IWM
$79.8B
$34.1M 2.61%
191,040
-500,036
-72% -$92.1M
KROS icon
10
Keros Therapeutics
KROS
$199M
$31.7M 2.43%
742,819
-49,274
-6% -$2.49M
PTON icon
11
Peloton Interactive
PTON
$2.77B
$27.9M 2.14%
2,457,243
+62,059
+3% +$746K
TNL icon
12
Travel + Leisure Co
TNL
$4.66B
$24.6M 1.89%
628,479
– –
RDVT icon
13
Red Violet
RDVT
$979M
$23.1M 1.77%
1,310,804
+35,716
+3% +$766K
RMR icon
14
The RMR Group
RMR
$325M
$21.6M 1.65%
821,907
-24,260
-3% -$680K
CDXS icon
15
Codexis
CDXS
$151M
$21.3M 1.63%
5,151,559
+663,777
+15% +$3.48M
SNDX icon
16
Syndax Pharmaceuticals
SNDX
$1.69B
$20.6M 1.58%
975,705
– –
APEN
17
CALL
DELISTED
Apollo Endosurgery, Inc.
APEN
$19.8M 1.52%
2,000,000
– –
MLKN icon
18
MillerKnoll
MLKN
$1.53B
$19.1M 1.46%
934,033
-67,392
-7% -$1.52M
IMTX icon
19
Immatics
IMTX
$1.18B
$19M 1.45%
2,748,527
– –
HGV icon
20
Hilton Grand Vacations
HGV
$3.59B
$18.2M 1.4%
410,200
-3,000
-0.7% -$136K
MAX icon
21
MediaAlpha
MAX
$758M
$16.3M 1.25%
1,086,993
-196,247
-15% -$2.65M
CBAY
22
DELISTED
Cymabay Therapeutics
CBAY
$15.6M 1.2%
1,790,103
-460,456
-20% -$3.69M
VMD icon
23
Viemed Healthcare
VMD
$447M
$15.4M 1.18%
1,592,794
-177,206
-10% -$1.54M
GDEN
24
DELISTED
Golden Entertainment
GDEN
$15.4M 1.18%
353,409
-102,700
-23% -$4.16M
AUTL
25
Autolus Therapeutics
AUTL
$397M
$14.2M 1.08%
7,691,813
-90,205
-1% -$176K
1
2 3 4 5

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Nantahala Capital Management's Q1 2023 Portfolio in Review

As of Q1 2023, Nantahala Capital Management held 138 positions worth $1.31B, down 15% from $1.54B the previous quarter. Its ten largest holdings account for 53% of the portfolio.

Nantahala Capital Management withdrew a net $311M in Q1 2023, closing 14 positions and reducing 47 holdings. Its most notable exit was Paya Holdings Inc. Class A Common Stock, an estimated $19.4M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 38% of assets, up from 32% a quarter earlier, followed by Consumer Discretionary and Communication Services.

Against the trend, Nantahala Capital Management opened a new position in Cvent Holding Corp. Common Stock worth $7.06M.

  • Nantahala Capital Management's largest Q1 2023 buy was Cvent Holding Corp. Common Stock: 845,000 shares worth $7.06M.
  • Nantahala Capital Management added most to uniQure in Q1 2023, an estimated $7.76M increase.
  • Nantahala Capital Management's biggest Q1 2023 reduction was iShares Russell 2000 ETF, cutting an estimated $92.1M.
  • Nantahala Capital Management fully exited Paya Holdings Inc. Class A Common Stock in Q1 2023, selling an estimated $19.4M.
  • Nantahala Capital Management's ten largest holdings make up 53% of its $1.31B portfolio in Q1 2023.
  • Nantahala Capital Management opened 20 new positions and closed 14 in Q1 2023.
  • Nantahala Capital Management's portfolio value fell 15% quarter-over-quarter to $1.31B.

Based on Nantahala Capital Management's 13F filing for Q1 2023, filed 15 May 2023.