Nantahala Capital Management, LLC

CIK

1472322

Location

New Canaan, CT

Portfolio Value

Mid $2,162,574,870

Diversification

Diversified

Filing Date

Global Rank

#1,148 / 8,622 ▲ 2 · as of Mar 2026

Top Industry

Biotechnology 31.5%

3Y Alpha vs SPY

-24.1%

Period ended 4 months ago

Filed May 15, 2026 · 2mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+83.6%

SPY

+67.9%

Annualised alpha

+3.6%

Max drawdown

−27.9%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 81% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

130 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

5.9%

−1.0 pts

Top 5

23.0%

−1.8 pts

Top 10

36.0%

−4.1 pts

HHI

205

Diversified−28

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Healthcare	59.1%	$1,278,409,766	82
Consumer Cyclical	20.1%	$434,479,699	16
Consumer Defensive	5.8%	$125,438,573	5
Financial Services	5.2%	$113,205,075	5
Communication Services	3.2%	$69,218,309	5
Industrials	2.2%	$47,290,769	7
Real Estate	1.7%	$36,858,045	3
Technology	1.6%	$34,835,775	5
Basic Materials	0.8%	$17,712,000	1
Energy	0.2%	$5,126,859	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
PTON	Peloton Interactive, Inc.	+17,506,224	29,938,900	$128,437,881
VSTM	Verastem, Inc.	+3,122,680	3,584,820	$18,999,546
AVR	Anteris Technologies Global Corp.	+3,000,000	5,530,910	$30,696,550
GUTS	Fractyl Health, Inc.	+2,518,079	13,364,519	$6,120,949
CWH	Camping World Holdings, Inc.	+2,200,732	5,259,274	$35,920,841
GERN	Geron Corp	+2,200,000	11,225,000	$16,725,250
QURE	uniQure N.V.	+2,137,780	2,837,078	$46,386,225
GOGO	Gogo Inc.	+2,089,387	8,882,036	$35,705,784
HAIN	Hain Celestial Group Inc	+2,000,000	8,528,789	$5,970,152
VYNE	VYNE Therapeutics Inc.	+1,000,000	2,000,000	$1,196,000
MDXG	Mimedx Group, Inc.	+980,910	3,397,299	$13,419,331
MLYS	Mineralys Therapeutics, Inc.	+782,196	895,481	$24,258,580
ZVRA	Zevra Therapeutics, Inc.	+750,000	2,521,936	$23,504,443
KROS	Keros Therapeutics, Inc.	+750,000	1,360,419	$15,019,025
SLNO	Soleno Therapeutics Inc	+678,122	2,494,124	$83,503,271
JACK	Jack In The Box Inc	+676,725	1,542,715	$14,918,054
BCRX	Biocryst Pharmaceuticals Inc	+631,020	1,987,397	$18,920,019
SLN	Silence Therapeutics plc	+604,304	2,146,731	$11,313,272
GLUE	Monte Rosa Therapeutics, Inc.	+594,002	651,993	$10,725,284
EOLS	Evolus, Inc.	+556,208	6,376,857	$26,208,882
ABEO	Abeona Therapeutics Inc.	+550,000	6,033,052	$27,028,072
TBBK	Bancorp, Inc.	+434,571	1,506,256	$80,931,134
BNTC	Benitec Biopharma Inc.	+400,000	1,438,371	$15,318,651
AMRX	Amneal Pharmaceuticals, Inc.	+396,592	2,844,108	$35,352,262
LBRX	Lb Pharmaceuticals Inc	+377,894	1,052,894	$25,964,366
No positions match the current search.

Trimmed

Positions the filer reduced

24 positions

Ticker	Company	Δ Shares	Shares	Value
IRD	Opus Genetics, Inc.	−3,100,000	1,681,330	$7,650,051
TNGX	Tango Therapeutics, Inc.	−2,322,181	1,250,452	$26,159,455
IMUX	Immunic, Inc.	−1,871,915	2,506,491	$2,782,205
HLF	Herbalife Ltd.	−1,728,204	6,953,653	$102,357,772
FULC	Fulcrum Therapeutics, Inc.	−1,243,306	3,050,040	$23,393,806
IKT	Inhibikase Therapeutics, Inc.	−1,227,429	2,701,863	$4,539,129
EW	Edwards Lifesciences Corp	−1,000,000	800,000	$64,064,000
TEVA	Teva Pharmaceutical Industries Ltd	−1,000,000	1,500,000	$45,180,000
PEPG	PepGen Inc.	−866,071	681,158	$1,205,649
APYX	Apyx Medical Corp	−533,787	3,440,304	$12,694,721
KOS	Kosmos Energy Ltd.	−500,000	1,844,194	$5,126,859
GRCE	Grace Therapeutics, Inc.	−450,000	728,203	$3,371,579
SLDB	Solid Biosciences Inc.	−438,258	1,165,078	$8,388,561
DXLG	Destination XL Group, Inc.	−363,260	4,141,740	$2,112,287
DNTH	Dianthus Therapeutics, Inc. /DE/	−307,718	67,282	$5,646,305
AMLX	Amylyx Pharmaceuticals, Inc.	−300,000	535,684	$7,446,007
RYAM	Rayonier Advanced Materials Inc.	−200,000	1,600,000	$17,712,000
ESTA	Establishment Labs Holdings Inc.	−154,733	832,956	$47,295,241
UPB	Upstream Bio, Inc.	−94,971	400,000	$3,600,000
IRON	Disc Medicine, Inc.	−66,147	66,653	$4,261,792
CGON	CG Oncology, Inc.	−60,000	49,449	$3,346,708
VMD	Viemed Healthcare, Inc.	−48,662	883,783	$8,139,641
HGV	Hilton Grand Vacations Inc.	−47,966	2,588,656	$101,268,222
ABVX	Abivax S.A.	−15,998	137,237	$15,281,339
No positions match the current search.

New Positions

Positions the filer opened this quarter

17 positions

Ticker	Company	Shares	Value
HLXC	Helix Acquisition Corp. III	1,250,000	$12,700,000
AGMB	Agomab Therapeutics NV	1,200,000	$12,588,000
JANX	Janux Therapeutics, Inc.	809,914	$11,257,804
DUOL	Duolingo, Inc.	100,000	$9,857,000
DMRA	Damora Therapeutics, Inc.	278,000	$7,200,200
VENU	Venu Holding Corp	2,046,705	$6,774,593
ALEC	Alector, Inc.	2,815,983	$6,054,363
COCH	Envoy Medical, Inc.	7,650,000	$5,087,250
RVMD	Revolution Medicines, Inc.	50,000	$4,862,500
NDLS	NOODLES & Co	553,746	$4,734,528
CZR	Caesars Entertainment, Inc.	150,000	$3,964,500
FORR	Forrester Research, Inc.	694,422	$3,930,428
COOK	Traeger, Inc.	102,408	$2,969,832
RLYB	Rallybio Corp	300,635	$2,696,695
TRDA	Entrada Therapeutics, Inc.	159,332	$2,010,769
POCI	Precision Optics Corporation, Inc.	280,000	$1,229,200
CRIS	Curis Inc	2,000,000	$55,000
No positions match the current search.

Sold Out

Positions the filer fully exited

17 positions

Ticker	Company	Shares	Value
GMED	Globus Medical Inc	224,962	$19,641,432
LYV	Live Nation Entertainment, Inc.	130,300	$18,567,750
GDEN	NEW ROYAL HOLDCO I INC.	368,245	$10,012,581
CASH	Pathward Financial, Inc.	131,608	$9,344,168
QNCX	Quince Therapeutics, Inc.	2,672,429	$8,952,637
CMCO	Columbus Mckinnon Corp	450,000	$7,762,500
SRZN	Surrozen, Inc./DE	229,527	$5,187,310
NKTR	Nektar Therapeutics	112,946	$4,775,356
NPCE	NeuroPace Inc	295,089	$4,556,174
ANEB	Anebulo Pharmaceuticals, Inc.	3,036,325	$3,066,688
CMPS	COMPASS Pathways plc	443,293	$3,058,721
KZR	Kezar Life Sciences, Inc.	276,754	$1,740,782
EDSA	Edesa Biotech, Inc.	625,000	$887,500
SSKN	STRATA Skin Sciences, Inc.	403,917	$508,935
KPRX	Kiora Pharmaceuticals Inc	106,156	$209,127
LUCD	Lucid Diagnostics Inc.	94,541	$103,049
CNTX	Context Therapeutics Inc.	37,837	$55,620
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

130 tracked positions · $2,162,574,870 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology

Showing 1–50 of 130 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
PTON	Peloton Interactive, Inc. CALL + SHARES Consumer Cyclical	Added	29,938,900	+17,506,224	$128,437,881	+67.7%	5.94%
HLF	Herbalife Ltd. CALL + SHARES Consumer Defensive	Reduced	6,953,653	-1,728,204	$102,357,772	−8.5%	4.73%
HGV	Hilton Grand Vacations Inc. CALL + SHARES Consumer Cyclical	Reduced	2,588,656	-47,966	$101,268,222	−14.2%	4.68%
SLNO	Soleno Therapeutics Inc CALL + SHARES Healthcare	Added	2,494,124	+678,122	$83,503,271	−0.7%	3.86%
TBBK	Bancorp, Inc. CALL + SHARES Financial Services	Added	1,506,256	+434,571	$80,931,134	+11.8%	3.74%
VTRS	Viatris Inc CALL Healthcare	Held	5,000,000	0	$67,550,000	+8.5%	3.12%
EW	Edwards Lifesciences Corp PUT Healthcare	Reduced	800,000	-1,000,000	$64,064,000	−58.3%	2.96%
BVS	Bioventus Inc. Healthcare	Added	6,122,403	+75,000	$55,897,539	+24.2%	2.58%
ESTA	Establishment Labs Holdings Inc. Healthcare	Reduced	832,956	-154,733	$47,295,241	−34.3%	2.19%
QURE	uniQure N.V. CALL + SHARES Healthcare	Added	2,837,078	+2,137,780	$46,386,225	+177.2%	2.14%
TEVA	Teva Pharmaceutical Industries Ltd CALL Healthcare	Reduced	1,500,000	-1,000,000	$45,180,000	−42.1%	2.09%
SVRA	Savara Inc Healthcare	Held	7,344,783	0	$40,102,515	−9.5%	1.85%
XTNT	Xtant Medical Holdings, Inc. Healthcare	Held	68,394,000	0	$38,300,640	−28.2%	1.77%
FOXF	Fox Factory Holding Corp CALL + SHARES Consumer Cyclical	Added	2,288,300	+100,000	$37,665,418	+0.6%	1.74%
CWH	Camping World Holdings, Inc. CALL + SHARES Consumer Cyclical	Added	5,259,274	+2,200,732	$35,920,841	+20.7%	1.66%
GOGO	Gogo Inc. Communication Services	Added	8,882,036	+2,089,387	$35,705,784	+12.8%	1.65%
AMRX	Amneal Pharmaceuticals, Inc. Healthcare	Added	2,844,108	+396,592	$35,352,262	+14.6%	1.63%
RDNW	RideNow Group, Inc. CALL + SHARES Consumer Cyclical	Held	4,972,845	0	$35,108,285	+27.9%	1.62%
REGN	Regeneron Pharmaceuticals, Inc. CALL Healthcare	Held	40,000	0	$30,905,600	+0.1%	1.43%
AVR	Anteris Technologies Global Corp. Healthcare	Added	5,530,910	+3,000,000	$30,696,550	+143.1%	1.42%
ETON	Eton Pharmaceuticals, Inc. Healthcare	Held	1,175,951	0	$29,022,470	+45.9%	1.34%
ABEO	Abeona Therapeutics Inc. CALL + SHARES Healthcare	Added	6,033,052	+550,000	$27,028,072	−6.5%	1.25%
EOLS	Evolus, Inc. Healthcare	Added	6,376,857	+556,208	$26,208,882	−32.3%	1.21%
TNGX	Tango Therapeutics, Inc. Healthcare	Reduced	1,250,452	-2,322,181	$26,159,455	−17.4%	1.21%
LBRX	Lb Pharmaceuticals Inc Healthcare	Added	1,052,894	+377,894	$25,964,366	+72.8%	1.20%
MLYS	Mineralys Therapeutics, Inc. Healthcare	Added	895,481	+782,196	$24,258,580	+490.1%	1.12%
ZVRA	Zevra Therapeutics, Inc. Healthcare	Added	2,521,936	+750,000	$23,504,443	+48.0%	1.09%
FULC	Fulcrum Therapeutics, Inc. Healthcare	Reduced	3,050,040	-1,243,306	$23,393,806	−51.8%	1.08%
FOSL	Fossil Group, Inc. Consumer Cyclical	Added	5,404,024	+339,665	$23,291,343	+22.3%	1.08%
ADCT	ADC Therapeutics SA Healthcare	Added	5,597,433	+122,000	$20,990,373	+8.6%	0.97%
TITN	Titan Machinery Inc. Industrials	Added	1,254,520	+34,000	$20,975,574	+14.3%	0.97%
IMAX	Imax Corp Communication Services	Added	515,554	+38,462	$19,596,207	+11.1%	0.91%
VSTM	Verastem, Inc. Healthcare	Reduced	3,584,820	-672,793	$18,999,546	−42.2%	0.88%
BCRX	Biocryst Pharmaceuticals Inc Healthcare	Added	1,987,397	+631,020	$18,920,019	+78.8%	0.87%
AVTX	Avalo Therapeutics, Inc. Healthcare	Held	1,235,000	0	$18,438,550	−17.8%	0.85%
RMR	Rmr Group Inc. Real Estate	Held	1,147,902	0	$17,758,043	+3.8%	0.82%
RYAM	Rayonier Advanced Materials Inc. Basic Materials	Reduced	1,600,000	-200,000	$17,712,000	+67.1%	0.82%
ALGN	Align Technology Inc CALL Healthcare	Held	100,000	0	$17,143,000	+9.8%	0.79%
GERN	Geron Corp Healthcare	Added	11,225,000	+2,200,000	$16,725,250	+40.4%	0.77%
PCVX	Vaxcyte, Inc. CALL + SHARES Healthcare	Added	273,946	+238,746	$15,919,002	+880.2%	0.74%
BNTC	Benitec Biopharma Inc. Healthcare	Added	1,438,371	+400,000	$15,318,651	+9.5%	0.71%
ABVX	Abivax S.A. Healthcare	Reduced	137,237	-15,998	$15,281,339	−26.1%	0.71%
ITGR	Integer Holdings Corp Healthcare	Added	172,000	+70,000	$15,136,000	+89.2%	0.70%
RH	Rh CALL + SHARES Consumer Cyclical	Added	107,791	+20,000	$15,071,337	−4.2%	0.70%
KROS	Keros Therapeutics, Inc. Healthcare	Added	1,360,419	+750,000	$15,019,025	+20.8%	0.69%
CHYM	Chime Financial, Inc. CALL + SHARES Technology	Added	800,000	+200,000	$14,984,000	−0.8%	0.69%
JACK	Jack In The Box Inc Consumer Cyclical	Added	1,542,715	+676,725	$14,918,054	−9.1%	0.69%
JCAP	Jefferson Capital, Inc. / DE Financial Services	Added	750,000	+150,000	$14,422,500	+7.6%	0.67%
AURA	Aura Biosciences, Inc. Healthcare	Held	2,117,697	0	$14,167,392	+22.8%	0.66%
USNA	Usana Health Sciences Inc Consumer Defensive	Added	810,074	+225,000	$14,151,992	+23.2%	0.65%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.