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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
+19.43%
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
$1.75B
AUM Growth
+$77.9M
Cap. Flow
-$78.7M
Cap. Flow %
-4.49%
Top 10 Hldgs %
55.92%
Holding
150
New
22
Increased
25
Reduced
39
Closed
26

Top Buys

Rank Stock Value
1
PTON icon
Peloton Interactive
PTON
+$15.1M
2
TRML
Tourmaline Bio
TRML
+$10.2M
3
EGRX
Eagle Pharmaceuticals, Inc.
EGRX
+$6.91M
4
EHTH icon
eHealth
EHTH
+$6.1M
5
CONN
Conn's Inc.
CONN
+$6.03M

Top Sells

Rank Stock Value
1
ESTA icon
Establishment Labs
ESTA
+$20.3M
2
SLNO
Soleno Therapeutics
SLNO
+$20.2M
3
IWM icon
iShares Russell 2000 ETF
IWM
+$19.5M
4
LXFR icon
Luxfer Holdings
LXFR
+$10.1M
5
CYTK icon
Cytokinetics
CYTK
+$9.19M

Sector Composition

Rank Sector Weight
1 Healthcare 36.87%
2 Consumer Discretionary 8.07%
3 Financials 4.11%
4 Communication Services 3.43%
5 Technology 2.15%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IWM icon
1
PUT
iShares Russell 2000 ETF
IWM
$79.8B
$284M 16.22%
1,350,000
+100,000
+8% +$19.9M
XBI icon
2
PUT
State Street SPDR S&P Biotech ETF
XBI
$9.95B
$180M 10.3%
1,900,000
-1,414,400
-43% -$131M
SLNO
3
DELISTED
Soleno Therapeutics
SLNO
$103M 5.89%
2,410,379
-445,972
-16% -$20.2M
ESTA icon
4
Establishment Labs
ESTA
$2.72B
$100M 5.71%
1,964,562
-505,592
-20% -$20.3M
LLY icon
5
PUT
Eli Lilly
LLY
$1.02T
$77.8M 4.44%
+100,000
New +$71.2M
LOPE icon
6
PUT
Grand Canyon Education
LOPE
$3.79B
$54.5M 3.11%
+400,000
New +$52.2M
CASH icon
7
Pathward Financial
CASH
$1.86B
$51.6M 2.95%
1,021,727
-38,139
-4% -$1.94M
COST icon
8
PUT
Costco
COST
$422B
$51.3M 2.93%
70,000
– –
EOLS icon
9
Evolus
EOLS
$385M
$40.8M 2.33%
2,910,849
– –
IMAX icon
10
IMAX
IMAX
$2.62B
$35.6M 2.04%
2,203,177
-205,576
-9% -$3.12M
HGV icon
11
Hilton Grand Vacations
HGV
$3.59B
$31.6M 1.8%
668,871
-2,300
-0.3% -$101K
BVS icon
12
Bioventus
BVS
$892M
$30.2M 1.72%
5,806,012
-171,459
-3% -$838K
RDNW
13
RideNow Group
RDNW
$238M
$28.5M 1.63%
4,416,506
– –
ESTA icon
14
CALL
Establishment Labs
ESTA
$2.72B
$28M 1.6%
550,000
– –
PTON icon
15
Peloton Interactive
PTON
$2.77B
$27.1M 1.55%
6,312,939
+3,050,000
+93% +$15.1M
IYR icon
16
PUT
iShares US Real Estate ETF
IYR
$4.66B
$27M 1.54%
+300,000
New +$26.5M
RDVT icon
17
Red Violet
RDVT
$979M
$21.8M 1.25%
1,116,249
-89,429
-7% -$1.64M
CRMT icon
18
America's Car Mart
CRMT
$26.6M
$19.9M 1.14%
312,128
– –
KROS icon
19
Keros Therapeutics
KROS
$199M
$19.5M 1.11%
293,997
-16,144
-5% -$957K
LYRA
20
DELISTED
LYRA THERAPEUTICS INC
LYRA
$17.5M 1%
56,420
-24,584
-30% -$6.55M
ABEO icon
21
Abeona Therapeutics
ABEO
$366M
$16.8M 0.96%
2,310,640
+60,388
+3% +$383K
QURE icon
22
uniQure
QURE
$3.03B
$16.1M 0.92%
3,088,082
+130,055
+4% +$746K
TRML
23
DELISTED
Tourmaline Bio
TRML
$16.1M 0.92%
700,907
+290,000
+71% +$10.2M
AMRX icon
24
Amneal Pharmaceuticals
AMRX
$5.85B
$15.9M 0.91%
2,619,943
+285,546
+12% +$1.61M
CDXS icon
25
Codexis
CDXS
$151M
$15.6M 0.89%
4,461,878
-131,025
-3% -$413K
1
2 3 4 5

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CA
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XL
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NB
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Nantahala Capital Management's Q1 2024 Portfolio in Review

As of Q1 2024, Nantahala Capital Management held 150 positions worth $1.75B, up 4.7% from $1.67B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Nantahala Capital Management withdrew a net $78.7M in Q1 2024, closing 26 positions and reducing 39 holdings. Its most notable exit was iShares Russell 2000 ETF, an estimated $19.5M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 37% of assets, up from 35% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Nantahala Capital Management opened a new position in Eagle Pharmaceuticals, Inc. worth $6.6M.

  • Nantahala Capital Management's largest Q1 2024 buy was Eagle Pharmaceuticals, Inc.: 1,258,762 shares worth $6.6M.
  • Nantahala Capital Management added most to Peloton Interactive in Q1 2024, an estimated $15.1M increase.
  • Nantahala Capital Management's biggest Q1 2024 reduction was Establishment Labs, cutting an estimated $20.3M.
  • Nantahala Capital Management fully exited iShares Russell 2000 ETF in Q1 2024, selling an estimated $19.5M.
  • Nantahala Capital Management's ten largest holdings make up 56% of its $1.75B portfolio in Q1 2024.
  • Nantahala Capital Management opened 22 new positions and closed 26 in Q1 2024.
  • Nantahala Capital Management's portfolio value rose 4.7% quarter-over-quarter to $1.75B.

Based on Nantahala Capital Management's 13F filing for Q1 2024, filed 15 May 2024.