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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
+13.03%
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
$1.67B
AUM Growth
+$502M
Cap. Flow
+$375M
Cap. Flow %
22.44%
Top 10 Hldgs %
57.54%
Holding
148
New
14
Increased
40
Reduced
54
Closed
20

Top Buys

Rank Stock Value
1
SLNO
Soleno Therapeutics
SLNO
+$70.1M
2
EOLS icon
Evolus
EOLS
+$22.3M
3
RDNW
RideNow Group
RDNW
+$18M
4
ESTA icon
Establishment Labs
ESTA
+$17.1M
5
IWM icon
iShares Russell 2000 ETF
IWM
+$13.6M

Top Sells

Rank Stock Value
1
CASH icon
Pathward Financial
CASH
+$8.58M
2
RH icon
RH
RH
+$5.38M
3
VTYX
Ventyx Biosciences
VTYX
+$5.13M
4
IMTX icon
Immatics
IMTX
+$4.66M
5
MLKN icon
MillerKnoll
MLKN
+$4.42M

Sector Composition

Rank Sector Weight
1 Healthcare 35.39%
2 Consumer Discretionary 8.45%
3 Financials 4.4%
4 Communication Services 3.48%
5 Technology 2.68%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XBI icon
1
PUT
State Street SPDR S&P Biotech ETF
XBI
$9.95B
$296M 17.69%
3,314,400
+2,364,400
+249% +$176M
IWM icon
2
PUT
iShares Russell 2000 ETF
IWM
$79.8B
$251M 15%
1,250,000
+150,000
+14% +$26.9M
SLNO
3
DELISTED
Soleno Therapeutics
SLNO
$115M 6.87%
2,856,351
+2,463,947
+628% +$70.1M
ESTA icon
4
Establishment Labs
ESTA
$2.72B
$64M 3.82%
2,470,154
+582,537
+31% +$17.1M
CASH icon
5
Pathward Financial
CASH
$1.86B
$56.1M 3.35%
1,059,866
-174,660
-14% -$8.58M
COST icon
6
PUT
Costco
COST
$422B
$46.2M 2.76%
+70,000
New +$41.5M
IMAX icon
7
IMAX
IMAX
$2.62B
$36.2M 2.16%
2,408,753
-198,131
-8% -$3.39M
RDNW
8
RideNow Group
RDNW
$238M
$36M 2.15%
4,416,506
+2,811,114
+175% +$18M
BVS icon
9
Bioventus
BVS
$892M
$31.5M 1.88%
5,977,471
-41,061
-0.7% -$162K
EOLS icon
10
Evolus
EOLS
$385M
$30.7M 1.83%
2,910,849
+2,489,629
+591% +$22.3M
HGV icon
11
Hilton Grand Vacations
HGV
$3.59B
$27M 1.61%
671,171
+166,929
+33% +$6.26M
RDVT icon
12
Red Violet
RDVT
$979M
$24.1M 1.44%
1,205,678
-56,218
-4% -$1.12M
CRMT icon
13
America's Car Mart
CRMT
$26.6M
$23.6M 1.41%
312,128
+81,175
+35% +$6.13M
LYRA
14
DELISTED
LYRA THERAPEUTICS INC
LYRA
$21.2M 1.27%
81,004
– –
QURE icon
15
uniQure
QURE
$3.03B
$20M 1.2%
2,958,027
-65,772
-2% -$435K
PTON icon
16
Peloton Interactive
PTON
$2.77B
$19.9M 1.19%
3,262,939
-291,667
-8% -$1.57M
IWM icon
17
iShares Russell 2000 ETF
IWM
$79.8B
$19.7M 1.18%
97,969
+76,091
+348% +$13.6M
LXFR icon
18
Luxfer Holdings
LXFR
$456M
$16.2M 0.97%
1,809,645
-311,517
-15% -$2.89M
ZVRA icon
19
Zevra Therapeutics
ZVRA
$562M
$16.1M 0.96%
2,453,405
+145,189
+6% +$679K
VMD icon
20
Viemed Healthcare
VMD
$447M
$15.3M 0.92%
1,952,368
-79,802
-4% -$579K
IMTX icon
21
Immatics
IMTX
$1.18B
$14.9M 0.89%
1,413,956
-506,680
-26% -$4.66M
ESTA icon
22
CALL
Establishment Labs
ESTA
$2.72B
$14.2M 0.85%
550,000
-29,000
-5% -$849K
AMRX icon
23
Amneal Pharmaceuticals
AMRX
$5.85B
$14.2M 0.85%
2,334,397
+121,640
+5% +$542K
CDXS icon
24
Codexis
CDXS
$151M
$14M 0.84%
4,592,903
-476,540
-9% -$1.02M
KROS icon
25
Keros Therapeutics
KROS
$199M
$12.3M 0.74%
310,141
-18,640
-6% -$584K
1
2 3 4 5

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Nantahala Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Nantahala Capital Management held 148 positions worth $1.67B, up 43% from $1.17B the previous quarter. Its ten largest holdings account for 58% of the portfolio.

Nantahala Capital Management deployed $375M of net new capital in Q4 2023, opening 14 new positions and adding to 40 existing holdings. Its largest new stake was Abivax: 1,010,034 shares worth $10.8M.

By sector, the portfolio is most concentrated in Healthcare at 35% of assets, down from 36% a quarter earlier, followed by Consumer Discretionary and Financials.

On the sell side, the largest reduction was Pathward Financial, an estimated $8.58M trimmed.

  • Nantahala Capital Management's largest Q4 2023 buy was Abivax: 1,010,034 shares worth $10.8M.
  • Nantahala Capital Management added most to Soleno Therapeutics in Q4 2023, an estimated $70.1M increase.
  • Nantahala Capital Management's biggest Q4 2023 reduction was Pathward Financial, cutting an estimated $8.58M.
  • Nantahala Capital Management fully exited RH in Q4 2023, selling an estimated $5.38M.
  • Nantahala Capital Management's ten largest holdings make up 58% of its $1.67B portfolio in Q4 2023.
  • Nantahala Capital Management opened 14 new positions and closed 20 in Q4 2023.
  • Nantahala Capital Management's portfolio value rose 43% quarter-over-quarter to $1.67B.

Based on Nantahala Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.