1y return+49.1%S&P 500 +20.9%
3y return+70.5%S&P 500 +68.5%
5y return+23.1%S&P 500 +74.5%
10y return+331.1%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $431 against $357 in the S&P 500.2
Nantahala Capital Management, LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| TBBKBancorp Inc Del | $155.3M | 4.7% | +79.6% |
| BVSBioventus Inc | $113.3M | 3.4% | +96.0% |
| HGVHilton Grand Vacations Inc | $108.2M | 3.3% | +36.5% |
| SVRASavara Inc | $86.0M | 2.6% | +90.0% |
| ETONEton Pharmaceuticals Inc | $85.1M | 2.6% | +100.0% |
| AMRXAmneal Pharmaceuticals Inc | $78.5M | 2.4% | +59.5% |
| EOLSEvolus Inc | $77.8M | 2.4% | +75.7% |
| AVTXAvalo Therapeutics Inc | $68.8M | 2.1% | +201.6% |
| LBRXLb Pharmaceuticals Inc | $68.3M | 2.1% | +100.0% |
| AVRAnteris Technologies Global | $66.7M | 2.0% | +22.3% |
| ABEOAbeona Therapeutics Inc | $63.5M | 1.9% | +104.9% |
| PTONPeloton Interactive Inc | $60.4M | 1.8% | −14.9% |
| Establishment Labs Hldgs IncCUSIP G31249108 | $57.6M | 1.8% | −19.4% |
| XTNTXtant Med Hldgs Inc | $57.6M | 1.8% | +100.0% |
| JACKJack In The Box Inc | $54.7M | 1.7% | +124.1% |
| GOGOGogo Inc | $53.9M | 1.6% | +95.8% |
| IMAXImax Corp | $52.5M | 1.6% | +155.3% |
| ZVRAZevra Therapeutics Inc | $51.6M | 1.6% | +42.5% |
| TITNTitan Machy Inc | $47.9M | 1.5% | +80.6% |
| RMRRmr Group Inc | $47.1M | 1.4% | +100.0% |
| FOSLFossil Group Inc | $45.6M | 1.4% | +103.7% |
| FOXFFox Factory Hldg Corp | $44.4M | 1.4% | +76.1% |
| MLYSMineralys Therapeutics Inc | $44.3M | 1.3% | +83.2% |
| RDNWRidenow Group Inc | $43.6M | 1.3% | +100.0% |
| Uniqure NvCUSIP N90064101 | $42.0M | 1.3% | +284.4% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| AMRXAmneal Pharmaceuticals Inc | March 31, 2023 | +1145.3% | $78.5M |
| ETONEton Pharmaceuticals Inc | June 30, 2024 | +1000.3% | $85.1M |
| Establishment Labs Hldgs IncCUSIP G31249108 | June 30, 2020 | +359.4% | $57.6M |
| ZVRAZevra Therapeutics Inc | September 30, 2023 | +197.5% | $51.6M |
| AVTXAvalo Therapeutics Inc | March 31, 2025 | +130.7% | $68.8M |
| IMAXImax Corp | December 31, 2020 | +121.2% | $52.5M |
| MLYSMineralys Therapeutics Inc | March 31, 2024 | +109.0% | $44.3M |
| LBRXLb Pharmaceuticals Inc | September 30, 2025 | +105.5% | $68.3M |
| ABEOAbeona Therapeutics Inc | December 31, 2022 | +100.6% | $63.5M |
| BNTCBenitec Biopharma Inc | June 30, 2024 | +91.4% | $39.8M |
Sold off last quarter
- Soleno Therapeutics IncCUSIP 834203309 was $58.4M
- Assertio Holdings IncCUSIP 04546C304 was $13.2M
- Centessa Pharmaceuticals PLCCUSIP 152309100 was $10.1M
- COGTCogent Biosciences Inc was $9.6M
- SLDBSolid Biosciences Inc was $8.4M
- DNTHDianthus Therapeutics Inc was $5.6M
- KOSKosmos Energy Ltd was $5.1M
- RVMDRevolution Medicines Inc was $4.9M
- CZRCaesars Entertainment Inc Ne was $4.0M
- UPBUpstream Bio Inc was $3.6M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +18.4% | +14.8% |
| March 31, 2026 | −3.5% | −4.6% |
| December 31, 2025 | +12.3% | +2.4% |
| September 30, 2025 | +16.3% | +7.8% |
| June 30, 2025 | +10.4% | +10.5% |
| March 31, 2025 | −5.7% | −4.6% |
| December 31, 2024 | +4.8% | +2.1% |
| September 30, 2024 | +13.2% | +5.4% |
| June 30, 2024 | −8.6% | +4.0% |
| March 31, 2024 | +12.9% | +10.0% |
| December 31, 2023 | +1.2% | +11.2% |
| September 30, 2023 | −11.2% | −3.6% |
| June 30, 2023 | +1.5% | +8.3% |
| March 31, 2023 | +6.1% | +7.0% |
| December 31, 2022 | +10.2% | +7.1% |
| September 30, 2022 | −1.6% | −5.3% |
| June 30, 2022 | −20.8% | −16.5% |
| March 31, 2022 | −15.0% | −4.9% |
| December 31, 2021 | −3.3% | +10.7% |
| September 30, 2021 | −5.0% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Nantahala Capital Management, LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1472322&type=13F-HR&dateb=&owner=include&count=40CIK 1472322
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1472322/000110465926097253/Filed August 14, 2026 · accession 0001104659-26-097253