Nantahala Capital Management, LLC
NEW CANAAN, CT · CIK 1472322 · 13F filing filed 2026-08-14
SEC-registered investment adviser since 2011 · limited liability company
- Assets managed$3.1bn
- Staff14 · 6 in investment roles
- Main clients (by assets)Private funds 100%
- Private funds3 (3 hedge) · $1.3bn gross assets
- Websitenantahalapartners.com
- Form ADV · 2026-09-14SEC adviser record
- Legal entityNANTAHALA CAPITAL MANAGEMENT, LLC (US)
$3.3bn
reported value
+106.0% vs Q1 2026
132positions
27.5%in top 10
22 new
103 added
7 reduced
20 sold out
vs Q1 2026
Options: 16 call positions ($1.0bn notional), 7 put positions ($1.7bn notional) – listed below, not included above.
Holdings, Q2 2026
The small lines show how much was held over the last 4 quarters (adjusted for stock splits).
| Security | Value | Change |
|---|---|---|
| BANCORP INC DEL TBBK | $155.3m4.71% | Added +1.1m |
| BIOVENTUS INC BVS | $113.3m3.43% | Added +5.9m |
| HILTON GRAND VACATIONS INC HGV | $108.2m3.28% | Added +552.7k |
| SAVARA INC SVRA | $86.0m2.60% | Added +6.6m |
| ETON PHARMACEUTICALS INC ETON | $85.1m2.58% | Added +1.2m |
| AMNEAL PHARMACEUTICALS INC AMRX | $78.5m2.38% | Added +1.7m |
| EVOLUS INC EOLS | $77.8m2.36% | Added +4.8m |
| AVALO THERAPEUTICS INC AVTX | $68.8m2.09% | Added +2.5m |
| LB PHARMACEUTICALS INC LBRX | $68.3m2.07% | Added +1.1m |
| ANTERIS TECHNOLOGIES GLOBAL AVR | $66.7m2.02% | Added +1.2m |
| ABEONA THERAPEUTICS INC ABEO | $63.5m1.92% | Added +5.3m |
| PELOTON INTERACTIVE INC PTON | $60.4m1.83% | Reduced -1.8m |
| ESTABLISHMENT LABS HLDGS INC ESTA | $57.6m1.75% | Reduced -161.3k |
| XTANT MED HLDGS INC XTNT | $57.6m1.74% | Added +68.4m |
| JACK IN THE BOX INC JACK | $54.7m1.66% | Added +1.9m |
| GOGO INC GOGO | $53.9m1.63% | Added +8.5m |
| IMAX CORP IMAX | $52.5m1.59% | Added +800.5k |
| ZEVRA THERAPEUTICS INC ZVRA | $51.6m1.56% | Added +1.1m |
| TITAN MACHY INC TITN | $47.9m1.45% | Added +1.0m |
| RMR GROUP INC RMR | $47.1m1.43% | Added +1.1m |
| FOSSIL GROUP INC FOSL | $45.6m1.38% | Added +5.6m |
| FOX FACTORY HLDG CORP FOXF | $44.4m1.35% | Added +1.1m |
| MINERALYS THERAPEUTICS INC MLYS | $44.3m1.34% | Added +745.5k |
| RUMBLEON INC RDNW | $43.6m1.32% | Added +3.3m |
| UNIQURE NV QURE | $42.0m1.27% | Added +674.2k |
| AURA BIOSCIENCES INC AURA | $41.9m1.27% | Added +3.8m |
| AGOMAB THERAPEUTICS NV AGMB | $40.7m1.23% | Added +1.9m |
| FULCRUM THERAPEUTICS INC FULC | $40.1m1.21% | Added +7.9m |
| BENITEC BIOPHARMA INC BNTC | $39.8m1.21% | Added +1.5m |
| ADMA BIOLOGICS INC ADMA | $39.5m1.20% | New |
| CAMPING WORLD HLDGS INC CWH | $38.9m1.18% | Added +1.8m |
| BIOCRYST PHARMACEUTICALS INC BCRX | $38.0m1.15% | Added +1.8m |
| MIMEDX GROUP INC MDXG | $36.7m1.11% | Added +6.1m |
| ABIVAX SA ABVX | $35.6m1.08% | Added +130.3k |
| USANA HEALTH SCIENCES INC USNA | $34.6m1.05% | Added +810.1k |
| MONTE ROSA THERAPEUTICS INC GLUE | $31.6m0.96% | Added +652.0k |
| TANGO THERAPEUTICS INC TNGX | $31.3m0.95% | Reduced -249.1k |
| GERON CORP GERN | $31.3m0.95% | Added +13.2m |
| VOR BIOPHARMA INC VOR | $31.1m0.94% | New |
| KEROS THERAPEUTICS INC KROS | $30.2m0.91% | Added +1.5m |
| SILENCE THERAPEUTICS PLC SLN | $29.6m0.90% | Added +546.7k |
| APYX MEDICAL CORPORATION APYX | $29.4m0.89% | Added +3.1m |
| JEFFERSON CAPITAL INC JCAP | $29.2m0.88% | Added +750.0k |
| HERBALIFE LTD HLF | $29.2m0.88% | Added +864.7k |
| PLANET FITNESS INC PLNT | $29.1m0.88% | New |
| VERASTEM INC VSTM | $27.4m0.83% | Added +3.6m |
| DISTRIBUTION SOLUTIONS GRP I DSGR | $27.1m0.82% | Added +494.6k |
| RAYONIER ADVANCED MATLS INC RYAM | $26.7m0.81% | Added +1.8m |
| HELIX ACQUISITION CORP III HLXC | $26.6m0.81% | Added +1.2m |
| ADC THERAPEUTICS SA ADCT | $26.4m0.80% | Added +19.1m |
| VAXCYTE INC PCVX | $25.8m0.78% | Added +205.5k |
| OPUS GENETICS INC IRD | $25.2m0.76% | Added +4.4m |
| JANUX THERAPEUTICS INC JANX | $24.9m0.75% | Added +809.9k |
| AMANAT ACQUISITION CORP AMAN | $24.4m0.74% | New |
| INSPIRE MED SYS INC INSP | $24.0m0.73% | New |
| 1 800 FLOWERS COM INC FLWS | $23.5m0.71% | Added +3.4m |
| X4 PHARMACEUTICALS INC XFOR | $22.9m0.69% | Added +2.4m |
| INTEGER HLDGS CORP ITGR | $20.8m0.63% | Added +50.6k |
| INVENTIVA SA IVA | $20.3m0.62% | New |
| INDUSTRIAL LOGISTICS PPTYS T ILPT | $19.7m0.60% | Added +543.3k |
| DUOLINGO INC DUOL | $19.3m0.58% | Added +67.8k |
| RESERVOIR MEDIA INC RSVR | $18.6m0.56% | Added +941.0k |
| FRACTYL HEALTH INC COM | $17.9m0.54% | Added +9.2m |
| DHI GROUP INC DHX | $17.6m0.53% | Added +2.4m |
| AMYLYX PHARMACEUTICALS INC AMLX | $17.5m0.53% | Added +437.7k |
| KORRO BIO INC KRRO | $17.4m0.53% | Added +660.0k |
| ALECTOR INC ALEC | $17.4m0.53% | Added +5.8m |
| NOODLES & CO NDLS | $16.6m0.50% | Added +553.7k |
| CODEXIS INC CDXS | $16.4m0.50% | Added +3.1m |
| PERSPECTIVE THERAPEUTICS INC CATX | $15.9m0.48% | New |
| IRENIC ACQUISITION CORP IACQU | $15.2m0.46% | New |
| DAMORA THERAPEUTICS INC COM NEW | $14.5m0.44% | Added +278.0k |
| VIEMED HEALTHCARE INC VMD | $14.4m0.44% | Added +381.1k |
| UNICYCIVE THERAPEUTICS INC UNCY | $13.1m0.40% | Added +1.9m |
| TRAEGER INC COOK | $13.1m0.40% | Added +63.3k |
| FORRESTER RESH INC FORR | $12.8m0.39% | Added +832.5k |
| LEXEO THERAPEUTICS INC LXEO | $12.1m0.37% | Added +1.4m |
| RH RH | $12.1m0.37% | Added +15.6k |
| ENVOY MEDICAL INC COCH | $11.9m0.36% | Added +7.7m |
| ELOXX PHARMACEUTICALS INC ELOX | $11.1m0.34% | New |
| INHIBIKASE THERAPEUTICS INC IKT | $11.0m0.33% | Added +2.7m |
| FIRST TRACKS BIOTHERAPEUTICS TRAX | $10.1m0.30% | New |
| MARA HOLDINGS INC MARA 0 03.01.30 · principal | $10.0m0.30% | Added +5.0m |
| HAIN CELESTIAL GROUP INC HAIN | $9.6m0.29% | Added +8.5m |
| ALTA EQUIPMENT GROUP INC ALTG | $9.4m0.28% | Added +514.8k |
| ORTHOPEDIATRICS CORP KIDS | $9.3m0.28% | Added +285.2k |
| ALTIMMUNE INC ALT | $9.1m0.28% | New |
| TRISALUS LIFE SCIENCES INC TLSI | $9.1m0.28% | Reduced -70.8k |
| SERVICE PPTYS TR COM SH BEN INT | $9.0m0.27% | Reduced -1.7m |
| TELA BIO INC TELA | $8.8m0.27% | Added +6.6m |
| THE ONE GROUP HOSPITALITY IN STKS | $8.5m0.26% | Added +2.1m |
| DARIOHEALTH CORP DRIO | $8.1m0.24% | Added +610.7k |
| IMMUNIC INC IMUX | $7.7m0.23% | New |
| ZAI LAB LTD ZLAB | $7.6m0.23% | New |
| TALPHERA INC TLPH | $7.2m0.22% | Added +3.5m |
| CHIME FINL INC CHYM | $7.0m0.21% | Added +144.2k |
| VENU HLDG CORP VENU | $6.9m0.21% | Added +1.0m |
| PAYONEER GLOBAL INC PAYO | $6.9m0.21% | Added +483.8k |
| ELUTIA INC ELUT | $6.2m0.19% | Added +3.2m |
| KAILERA THERAPEUTICS INC KLRA | $6.2m0.19% | New |
Sold out since Q1 2026
| Security | Value then |
|---|---|
| SOLENO THERAPEUTICS INC SLNO | $58.4m1.7m shares |
| ASSERTIO HOLDINGS INC | $13.2m692.3k shares |
| CENTESSA PHARMACEUTICALS PLC | $10.1m254.8k shares |
| COGENT BIOSCIENCES INC COGT | $9.6m250.0k shares |
| SOLID BIOSCIENCES INC SLDB | $8.4m1.2m shares |
| DIANTHUS THERAPEUTICS INC DNTH | $5.6m67.3k shares |
| KOSMOS ENERGY LTD KOS | $5.1m1.8m shares |
| REVOLUTION MEDICINES INC RVMD | $4.9m50.0k shares |
| CAESARS ENTERTAINMENT INC NE CZR | $4.0m150.0k shares |
| UPSTREAM BIO INC UPB | $3.6m400.0k shares |
| NN INC NNBR | $3.5m2.4m shares |
| GRACE THERAPEUTICS INC GRCE | $3.4m728.2k shares |
| CG ONCOLOGY INC CGON | $3.3m49.4k shares |
| XENCOR INC XNCR | $3.2m264.6k shares |
| IMMUNIC INC | $2.8m2.5m shares |
| ACHIEVE LIFE SCIENCES INC ACHV | $1.9m648.9k shares |
| DISC MEDICINE INC IRON | $1.6m25.7k shares |
| PEPGEN INC PEPG | $1.2m681.2k shares |
| SENTI BIOSCIENCES INC | $721.1k888.0k shares |
| PERFECT CORP PERFF | $23816.1k shares |
Options (notional value)
| Underlying | Notional | Change |
|---|---|---|
| ISHARES TR IWM · Put | $1.2bn4.0m shares | Added |
| PELOTON INTERACTIVE INC PTON · Call | $194.3m32.9m shares | Added |
| HERBALIFE LTD HLF · Call | $173.6m13.2m shares | Added |
| VIATRIS INC VTRS · Call | $158.8m10.0m shares | Added |
| EDWARDS LIFESCIENCES CORP EW · Put | $144.7m1.6m shares | Added |
| SPDR SER TR XBI · Put | $126.6m800.0k shares | Added |
| HILTON GRAND VACATIONS INC HGV · Call | $112.6m2.1m shares | Added |
| ETF SER SOLUTIONS QTUM · Put | $73.8m446.0k shares | New |
| UNIQURE NV QURE · Call | $73.7m1.6m shares | Reduced |
| NEUROCRINE BIOSCIENCES INC NBIX · Call | $67.4m400.0k shares | New |
| PRAXIS PRECISION MEDICINES I PRAX · Put | $67.0m200.0k shares | New |
| KRYSTAL BIOTECH INC KRYS · Put | $63.2m170.0k shares | New |
| REGENERON PHARMACEUTICALS REGN · Call | $49.9m80.0k shares | Added |
| SNAP INC SNAP · Call | $42.6m9.6m shares | New |
| CAMPING WORLD HLDGS INC CWH · Call | $30.5m4.0m shares | Added |
| FOX FACTORY HLDG CORP FOXF · Call | $27.1m1.6m shares | Added |
| CHIME FINL INC CHYM · Call | $24.6m1.2m shares | Added |
| RUMBLEON INC RDNW · Call | $22.6m3.4m shares | Added |
| RH RH · Call | $16.5m100.0k shares | Added |
| BANCORP INC DEL TBBK · Call | $15.8m251.6k shares | Added |
| UNIQURE NV QURE · Put | $14.9m323.0k shares | New |
| ABEONA THERAPEUTICS INC ABEO · Call | $12.6m2.0m shares | Added |
| VAXCYTE INC PCVX · Call | $4.1m70.4k shares | Added |
Stakes above 5%
Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on. The largest 25 of 63.
| Company | Stake |
|---|---|
| XTANT MED HLDGS INC XTNT · 13D · filed 2025-08-05 | 49.1%≈ $28.8m |
| EAGLE PHARMACEUTICALS INC EGRX · 13G · filed 2025-08-14 | 38.1% |
| EVOKE PHARMA INC 13D · filed 2025-02-03 | 16.0% |
| AYTU BIOPHARMA INC AYTU · 13D · filed 2025-06-09 | 14.4%≈ $2.3m |
| RESEARCH ALLIANCE CORP III RACC · 13G · filed 2026-10-07 | 14.1%≈ $11.8m |
| TELA BIO INC TELA · 13G · filed 2026-08-14 | 12.9%≈ $4.3m |
| TALPHERA INC TLPH · 13D · filed 2025-04-03 | 11.7%≈ $2.1m |
| ASSERTIO HOLDINGS INC 13G · filed 2026-04-07 | 10.7% |
| UNICYCIVE THERAPEUTICS INC UNCY · 13G · filed 2026-08-14 | 10.0%≈ $13.2m |
| KIORA PHARMACEUTICALS INC KPRX · 13G · filed 2026-08-14 | 10.0%≈ $1.3m |
| AZITRA INC AZTR · 13G · filed 2026-08-14 | 10.0%≈ $1.1m |
| FOSSIL GROUP INC FOSL · 13G · filed 2026-05-15 | 10.0%≈ $24.3m |
| FRACTYL HEALTH INC 13G · filed 2026-05-15 | 10.0%≈ $12.8m |
| INSPIREMD INC NSPR · 13G · filed 2026-05-15 | 10.0%≈ $3.4m |
| ENVOY MEDICAL INC COCH · 13G · filed 2026-05-15 | 10.0%≈ $6.1m |
| ABEONA THERAPEUTICS INC ABEO · 13G · filed 2026-05-15 | 10.0%≈ $35.7m |
| CURIS INC 13G · filed 2026-04-24 | 10.0%≈ $2.2m |
| APYX MEDICAL CORPORATION APYX · 13G · filed 2026-02-13 | 10.0%≈ $18.5m |
| DARIOHEALTH CORP DRIO · 13G · filed 2026-02-13 | 10.0%≈ $4.5m |
| ELUTIA INC ELUT · 13G · filed 2026-02-13 | 10.0%≈ $4.0m |
| UNICYCIVE THERAPEUTICS INC 13G · filed 2025-11-14 | 10.0% |
| DARIOHEALTH CORP DRIO · 13G · filed 2025-08-14 | 10.0% |
| BIOMX INC 13G · filed 2025-05-15 | 10.0% |
| OPTINOSE INC 13G · filed 2024-11-14 | 10.0% |
| ELOXX PHARMACEUTICALS INC ELOX · 13G · filed 2026-08-14 | 9.9%≈ $5.6m |