Nantahala Capital Management, LLC
Filing Date
Global Rank
#1,148
/ 8,588
▲ 2
Top Industry
Biotechnology
32.6%
3Y Alpha vs SPY
-0.2%
Period ended 3 months ago
Filed May 15, 2026 · 33d
25 quarters · since Mar 2020
Clone Performance
Jun 2023–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+75.8%
SPY
+76.8%
Annualised alpha
-0.2%
Max drawdown
−28.2%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
129 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
5.9%
−1.0 pts
Top 5
23.0%
−1.8 pts
Top 10
36.0%
−4.0 pts
HHI
205
Diversified−28
Portfolio Trend
25 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Healthcare | 59.2% | $1,279,454,766 |
| Consumer Cyclical | 20.0% | $431,509,867 |
| Consumer Defensive | 5.8% | $125,438,573 |
| Financial Services | 5.2% | $113,205,075 |
| Communication Services | 3.2% | $69,218,309 |
| Industrials | 2.2% | $47,290,769 |
| Real Estate | 1.7% | $36,893,335 |
| Technology | 1.6% | $34,835,775 |
| Basic Materials | 0.8% | $17,712,000 |
| Energy | 0.2% | $5,126,859 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| 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 | Open |
|---|---|---|---|---|---|
| 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 | |
| TEVA | Teva Pharmaceutical Industries Ltd | −1,000,000 | 1,500,000 | $45,180,000 | |
| EW | Edwards Lifesciences Corp | −1,000,000 | 800,000 | $64,064,000 | |
| 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
16 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| 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 | |
| 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 | $1,100,000 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
17 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| 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. | ||||
129 positions ·
$2,160,685,328 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 129 positions by value
· page 1 of 3
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| APRE |
Aprea Therapeutics, Inc.
Healthcare
|
Held | 205,760 | $156,994 | 0.01% | |
| SGRP |
SPAR Group, Inc.
Industrials
|
Held | 660,688 | $416,233 | 0.02% | |
| PHGE |
BiomX Inc.
Industrials
|
Held | 114,795 | $430,940 | 0.02% | |
| SNTI |
Senti Biosciences Holdings, Inc.
Healthcare
|
Held | 888,000 | $721,056 | 0.03% | |
| ACU |
Acme United Corp
Consumer Defensive
|
Held | 20,427 | $917,376 | 0.04% | |
| PERF |
Perfect Corp.
Technology
|
Held | 583,925 | $986,833 | 0.05% | |
| CRIS |
Curis Inc
Healthcare
|
NEW | 2,000,000 | $1,100,000 | 0.05% | |
| VYNE |
VYNE Therapeutics Inc.
Healthcare
|
Added | 2,000,000 | $1,196,000 | 0.06% | |
| PEPG |
PepGen Inc.
Healthcare
|
Reduced | 681,158 | $1,205,649 | 0.06% | |
| POCI |
Precision Optics Corporation, Inc.
Healthcare
|
NEW | 280,000 | $1,229,200 | 0.06% | |
| ACHV |
Achieve Life Sciences, Inc.
Healthcare
|
Held | 648,885 | $1,907,721 | 0.09% | |
| TRDA |
Entrada Therapeutics, Inc.
Healthcare
|
NEW | 159,332 | $2,010,769 | 0.09% | |
| BRCC |
BRC Inc.
Consumer Defensive
|
Held | 2,630,517 | $2,041,281 | 0.09% | |
| DXLG |
Destination XL Group, Inc.
Consumer Cyclical
|
Reduced | 4,141,740 | $2,112,287 | 0.10% | |
| RDI |
Reading International Inc
Communication Services
|
Held | 1,921,088 | $2,170,829 | 0.10% | |
| EHTH |
eHealth, Inc.
Financial Services
|
Held | 1,761,441 | $2,272,258 | 0.11% | |
| PAYO |
Payoneer Global Inc.
Technology
|
Held | 483,836 | $2,336,927 | 0.11% | |
| GAIA |
Gaia, Inc
Communication Services
|
Held | 914,618 | $2,533,491 | 0.12% | |
| TLPH |
Talphera, Inc.
Healthcare
|
Held | 3,492,519 | $2,619,389 | 0.12% | |
| RLYB |
Rallybio Corp
Healthcare
|
NEW | 300,635 | $2,696,695 | 0.12% | |
| AKBA |
Akebia Therapeutics, Inc.
Healthcare
|
Held | 2,000,000 | $2,780,000 | 0.13% | |
| IMUX |
Immunic, Inc.
Healthcare
|
Reduced | 2,506,491 | $2,782,205 | 0.13% | |
| SRL |
Scully Royalty Ltd.
Financial Services
|
Held | 368,182 | $2,879,183 | 0.13% | |
| AYTU |
Aytu Biopharma, Inc
Healthcare
|
Held | 1,086,812 | $2,966,996 | 0.14% | |
| KIDS |
Orthopediatrics Corp
Healthcare
|
Held | 199,449 | $3,165,255 | 0.15% | |
| ARVN |
Arvinas, Inc.
Healthcare
|
Held | 300,000 | $3,180,000 | 0.15% | |
| XNCR |
Xencor Inc
Healthcare
|
Added | 264,639 | $3,191,546 | 0.15% | |
| ELUT |
Elutia Inc.
Healthcare
|
Held | 3,184,947 | $3,344,194 | 0.15% | |
| CGON |
CG Oncology, Inc.
Healthcare
|
Reduced | 49,449 | $3,346,708 | 0.15% | |
| GRCE |
Grace Therapeutics, Inc.
Healthcare
|
Reduced | 728,203 | $3,371,579 | 0.16% | |
| NNBR |
Nn Inc
Industrials
|
Held | 2,441,416 | $3,540,053 | 0.16% | |
| UPB |
Upstream Bio, Inc.
Healthcare
|
Reduced | 400,000 | $3,600,000 | 0.17% | |
| TELA |
TELA Bio, Inc.
Healthcare
|
Added | 5,894,114 | $3,654,350 | 0.17% | |
| STKS |
ONE Group Hospitality, Inc.
Consumer Cyclical
|
Held | 2,121,084 | $3,775,529 | 0.17% | |
| FORR |
Forrester Research, Inc.
Industrials
|
NEW | 694,422 | $3,930,428 | 0.18% | |
| CZR |
Caesars Entertainment, Inc.
Consumer Cyclical
|
NEW | 150,000 | $3,964,500 | 0.18% | |
| IRON |
Disc Medicine, Inc.
Healthcare
|
Reduced | 66,653 | $4,261,792 | 0.20% | |
| IKT |
Inhibikase Therapeutics, Inc.
Healthcare
|
Reduced | 2,701,863 | $4,539,129 | 0.21% | |
| NDLS |
NOODLES & Co
Consumer Cyclical
|
NEW | 553,746 | $4,734,528 | 0.22% | |
| RVMD |
Revolution Medicines, Inc.
Healthcare
|
NEW | 50,000 | $4,862,500 | 0.23% | |
| DRIO |
DarioHealth Corp.
Healthcare
|
Added | 610,690 | $4,897,733 | 0.23% | |
| ALTG |
Alta Equipment Group Inc.
Industrials
|
Held | 934,774 | $5,019,736 | 0.23% | |
| COCH |
Envoy Medical, Inc.
Healthcare
|
NEW | 7,650,000 | $5,087,250 | 0.24% | |
| KOS |
Kosmos Energy Ltd.
Energy
|
Reduced | 1,844,194 | $5,126,859 | 0.24% | |
| NSPR |
InspireMD, Inc.
Healthcare
|
Held | 3,376,484 | $5,503,668 | 0.25% | |
| DNTH |
Dianthus Therapeutics, Inc. /DE/
Healthcare
|
Reduced | 67,282 | $5,646,305 | 0.26% | |
| HAIN |
Hain Celestial Group Inc
Consumer Defensive
|
Added | 8,528,789 | $5,970,152 | 0.28% | |
| ALEC |
Alector, Inc.
Healthcare
|
NEW | 2,815,983 | $6,054,363 | 0.28% | |
| GUTS |
Fractyl Health, Inc.
Healthcare
|
Added | 13,364,519 | $6,120,949 | 0.28% | |
| UNCY |
Unicycive Therapeutics, Inc.
Healthcare
|
Held | 939,202 | $6,179,949 | 0.29% |