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Nantahala Capital Management, LLC

Q3 2025 · Filed 2025-11-14
Market Value
$1.5B
+16.8%
Holdings
131
+10
New Purchases
18
Added To
21
Closed
21
Reduced
27
Top 10 Concentration
35.3%
Turnover
29.8%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ABVX 3.19% 0.89% +2.30% $47M
QURE 3.96% 2.25% +1.71% $59M
GUTS 1.30% 0.00% +1.30% $19M
GMED 1.16% 0.00% +1.16% $17M
DNTH 0.99% 0.00% +0.99% $15M
GERN 0.83% 0.00% +0.83% $12M
LBRX 0.72% 0.00% +0.72% $11M
MDXG 0.69% 0.00% +0.69% $10M
DRIO 0.66% 0.00% +0.66% $10M
SVRA 2.11% 1.49% +0.62% $31M
PVLA 1.06% 0.44% +0.61% $16M
FULC 2.90% 2.32% +0.57% $43M
CYTK 0.56% 0.00% +0.56% $8M
COGT 1.46% 0.94% +0.52% $22M
XFOR 0.51% 0.00% +0.51% $8M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
HGV 4.70% 6.50% -1.80% $70M
CRMT 1.27% 2.84% -1.57% $19M
THRD 0.00% 1.26% -1.26% $0
GOGO 0.00% 1.21% -1.21% $0
XTNT 2.99% 3.98% -0.99% $44M
RZLT 0.00% 0.80% -0.80% $0
TRML 0.00% 0.70% -0.70% $0
EOLS 2.37% 3.04% -0.67% $35M
AMLX 0.86% 1.48% -0.62% $13M
DKS 0.00% 0.62% -0.62% $0
SNDX 0.00% 0.56% -0.56% $0
TITN 1.24% 1.77% -0.53% $18M
ESTA 5.45% 5.97% -0.52% $81M
ILPT 0.66% 1.15% -0.49% $10M
ITOS 0.00% 0.47% -0.47% $0

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 2 $17M 1.2%
Mid Cap 17 $485M 32.7%
Small Cap 62 $663M 44.6%
Micro Cap 50 $319M 21.5%

Portfolio Analytics

Avg Market Cap
$1.2B
Median Market Cap
$435M
Avg P/E
34.1
Median P/E
19.8
Avg Dividend Yield
0.00%
Avg Beta
1.06
# Stocks
131
# ETFs / Funds
0

Top Holdings (131 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 ESTA 5.45% 1,973,492 $81M $40.99 $5M +197,962 +11.2%
2 HGV 4.70% 1,667,753 $70M $41.81 -$13M -321,105 -16.1%
3 TBBK 4.30% 852,334 $64M $74.89 $9M -116,169 -12.0%
4 QURE 3.96% 1,007,492 $59M $58.37 $30M -1,044,360 -50.9%
5 ABVX 3.19% 557,564 $47M $84.90 $36M -925,430 -62.4%
6 XTNT 2.99% 68,394,000 $44M $0.65 -$6M
7 FULC 2.90% 4,670,784 $43M $9.20 $13M +382,485 +8.9%
8 AMRX 2.85% 4,224,564 $42M $10.01 $7M -142,874 -3.3%
9 BVS 2.62% 5,810,662 $39M $6.69 $4M +529,820 +10.0%
10 EOLS 2.37% 5,726,857 $35M $6.14 -$3M +1,528,931 +36.4%
11 PTON 2.24% 3,697,700 $33M $9.00 $11M +429,963 +13.2%
12 IMAX 2.20% 996,150 $33M $32.75 $917K -137,843 -12.2%
13 SVRA 2.11% 8,775,375 $31M $3.57 $12M +450,000 +5.4%
14 ETON 1.72% 1,175,951 $26M $21.73 $9M
15 0H7R.L 1.62% 4,564,665 $24M $5.28 -$718K +195,000 +4.5%
16 NKTR 1.60% 418,522 $24M $56.90 $5M -291,239 -41.0%
17 COGT 1.46% 1,506,989 $22M $14.36 $10M -148,700 -9.0%
18 KROS 1.31% 1,233,189 $20M $15.82 -$2M -387,503 -23.9%
19 GUTS 1.30% 12,136,917 $19M $1.59 +12,136,917 NEW
20 SVC 1.29% 7,057,887 $19M $2.71 -$131K -1,000,000 -12.4%
21 IRON 1.28% 287,800 $19M $66.08 $4M
22 CRMT 1.27% 644,686 $19M $29.21 -$17M
23 ZVRA 1.26% 1,971,936 $19M $9.51 $6M +500,000 +34.0%
24 TITN 1.24% 1,096,232 $18M $16.74 -$4M -39,320 -3.5%
25 RMR 1.22% 1,147,902 $18M $15.73 -$712K
26 FOXF 1.19% 728,648 $18M $24.29 -$1M
27 EB 1.16% 6,831,395 $17M $2.52 $432K +450,000 +7.0%
28 GMED 1.16% 300,000 $17M $57.27 +300,000 NEW
29 RAPT 1.08% 623,282 $16M $25.79 $8M -328,331 -34.5%
30 PVLA 1.06% 250,062 $16M $62.69 $10M
31 FLWS 1.04% 3,368,065 $15M $4.60 $6M +1,368,065 +68.4%
32 TNGX 1.02% 1,809,948 $15M $8.40 -$2M -1,629,646 -47.4%
33 DNTH 0.99% 375,000 $15M $39.35 +375,000 NEW
34 RDNW 0.97% 3,272,845 $14M $4.40 $7M
35 AURA 0.88% 2,117,697 $13M $6.18 -$169K
36 XNCR 0.87% 1,100,000 $13M $11.73 $6M +279,897 +34.1%
37 AMLX 0.86% 935,684 $13M $13.59 -$6M -1,998,721 -68.1%
38 GERN 0.83% 9,025,000 $12M $1.37 +9,025,000 NEW
39 JACK 0.80% 600,000 $12M $19.77 $1M
40 0LOV.L 0.77% 1,292,903 $11M $8.83 -$846K -1,661,832 -56.2%
41 UPB 0.75% 594,971 $11M $18.81 $5M
42 LBRX 0.72% 675,000 $11M $15.79 +675,000 NEW
43 JCAP 0.70% 600,000 $10M $17.26 -$714K
44 GPCR 0.70% 368,553 $10M $28.00 $7M +200,000 +118.7%
45 MDXG 0.69% 1,466,566 $10M $6.98 +1,466,566 NEW
46 CMPS 0.67% 1,729,930 $10M $5.73 -$2M -2,450,000 -58.6%
47 CDXS 0.66% 4,030,619 $10M $2.44
48 CNTA 0.66% 404,803 $10M $24.25 $3M -150,000 -27.0%
49 DRIO 0.66% 563,233 $10M $17.35 +563,233 NEW
50 ILPT 0.66% 1,675,273 $10M $5.83 -$5M -1,530,946 -47.8%
51 FOSL 0.65% 3,741,157 $10M $2.57 $2M -1,346,646 -26.5%
52 TLSI 0.64% 2,040,245 $9M $4.65 -$1M +40,245 +2.0%
53 ADCT 0.61% 2,266,289 $9M $4.00 $3M
54 DYN 0.60% 702,884 $9M $12.65 $2M -42,178 -5.7%
55 AVR 0.58% 1,918,666 $9M $4.50 $2M +225,000 +13.3%
56 RDVT 0.58% 164,339 $9M $52.25 -$975K -30,000 -15.4%
57 CYTK 0.56% 150,000 $8M $54.96 +150,000 NEW
58 HLF 0.54% 942,431 $8M $8.44 $866K +120,133 +14.6%
59 ATXS 0.52% 1,069,530 $8M $7.28 $2M
60 ASRT 0.52% 8,810,073 $8M $0.88 $2M
61 RSVR 0.52% 950,960 $8M $8.14 -$3M -491,176 -34.1%
62 XFOR 0.51% 2,228,350 $8M $3.42 +2,228,350 NEW
63 TELA 0.51% 5,111,588 $8M $1.49 -$2M
64 EHTH 0.51% 1,761,441 $8M $4.31 $2M +450,000 +34.3%
65 ANEB 0.51% 3,036,325 $8M $2.50 $3M
66 DCTH 0.48% 666,435 $7M $10.75 +666,435 NEW
67 APYX 0.48% 3,338,048 $7M $2.14 -$367K
68 DSGR 0.47% 230,339 $7M $30.08 $1M +19,539 +9.3%
69 ALTG 0.46% 934,774 $7M $7.24 $177K -107,995 -10.4%
70 DHX 0.44% 2,374,027 $7M $2.78 -$451K
71 CMCO 0.43% 450,000 $6M $14.34 $3M +246,372 +121.0%
72 VMD 0.43% 932,445 $6M $6.79 -$112K
73 STKS 0.42% 2,121,084 $6M $2.96 -$2M
74 MLYS 0.41% 158,713 $6M $37.92 $1M -195,269 -55.2%
75 DXLG 0.40% 4,505,000 $6M $1.31 $3M +1,928,226 +74.8%
76 IRD 0.37% 3,345,923 $6M $1.65 $2M
77 AKBA 0.37% 2,000,000 $5M $2.73 -$2M
78 GAIA 0.36% 914,618 $5M $5.92 $1M
79 SLN 0.36% 1,042,427 $5M $5.19 -$636K
80 NNBR 0.34% 2,441,416 $5M $2.06 -$98K
81 CRTX 0.34% 3,073,729 $5M $1.63 $838K +545,427 +21.6%
82 SCPH 0.33% 861,277 $5M $5.67 $1M -134,161 -13.5%
83 KOD 0.32% 290,884 $5M $16.37 $3M -300,000 -50.8%
84 HAIN 0.32% 3,000,000 $5M $1.58 $180K
85 CGON 0.30% 109,449 $4M $40.28 +109,449 NEW
86 BRCC 0.28% 2,630,517 $4M $1.56 +2,630,517 NEW
87 UNCY 0.28% 939,202 $4M $4.36 -$465K
88 AGIO 0.27% 100,000 $4M $40.14 +100,000 NEW
89 RYAM 0.25% 510,510 $4M $7.22 +510,510 NEW
90 GRCE 0.24% 1,178,203 $4M $2.98 $12K
91 AQST 0.23% 600,000 $3M $5.59 +600,000 NEW
92 TLPH 0.21% 3,492,519 $3M $0.89 $2M +1,500,000 +75.3%
93 NPCE 0.20% 295,089 $3M $10.31 -$245K
94 ELDN 0.20% 1,141,237 $3M $2.59 -$137K
95 PAYO 0.20% 483,836 $3M $6.05 -$387K
96 KOS 0.19% 1,716,593 $3M $1.66 -$103K
97 ELUT 0.19% 3,184,947 $3M $0.89 -$3M
98 RDI 0.19% 1,921,088 $3M $1.47 $250K
99 CZR 0.18% 98,879 $3M $27.03 -$135K
100 MAZE 0.16% 93,351 $2M $25.93 +93,351 NEW

Options Breakdown

18 Calls $332M Call Value 6 Puts $922M Put Value 2.78 P/C Ratio

Top Calls

SymbolSharesValueStatus
HLF 6,800,000 $57M
TEVA 2,500,000 $50M
VTRS 5,000,000 $50M
PTON 4,500,000 $40M
CWH 2,000,000 $32M
HGV 575,000 $24M
REGN 40,000 $22M NEW
CZR 500,000 $14M
ALGN 100,000 $13M NEW
RH 50,000 $10M

Top Puts

SymbolSharesValueStatus
IWM 2,650,000 $641M
EW 1,800,000 $140M NEW
XBI 700,000 $70M
KRYS 200,000 $35M
LYV 130,300 $21M
HOOD 100,000 $14M NEW

New Positions

SymbolValue% Port
GUTS $19M 1.30%
GMED $17M 1.16%
DNTH $15M 0.99%
GERN $12M 0.83%
LBRX $11M 0.72%
MDXG $10M 0.69%
DRIO $10M 0.66%
CYTK $8M 0.56%
XFOR $8M 0.51%
DCTH $7M 0.48%
CGON $4M 0.30%
BRCC $4M 0.28%
AGIO $4M 0.27%
RYAM $4M 0.25%
AQST $3M 0.23%

Sold Out Positions

SymbolValue% Port
LADR —%
DKS —%
GOGO —%
EYPT —%
RZLT —%
URGN —%
TACT —%
OKUR —%
NVNO —%
OLPX —%
SNDX —%
XGN —%
PLCE —%
TRML —%
CRGX —%
View SEC EDGAR Filings for Nantahala Capital Management, LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms