Nantahala Capital Management, LLC 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Nantahala Capital Management, LLC disclosed 133 US equity positions worth $1.7bn in its Q4 2025 13F filing. The largest position was TBBK at 4.3% of the reported book, followed by ESTA and HGV. Against the Q3 2025 filing, it opened 3 new positions, added to 19 and reduced 13 among the top 50 holdings.
What did Nantahala Capital Management, LLC own in Q4 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | TBBK BANCORP INC DEL | Financial Services | 4.3% | $72.4m | 1,071,685 | 26% | added |
| 2 | ESTA ESTABLISHMENT LABS HLDGS INC | Healthcare | 4.3% | $72.0m | 987,689 | -50% | reduced |
| 3 | HGV HILTON GRAND VACATIONS INC | Consumer Cyclical | 4.2% | $69.9m | 1,561,622 | -6% | reduced |
| 4 | SLNOEUR SOLENO THERAPEUTICS INC | 3.6% | $60.8m | 1,314,002 | 52% | added | |
| 5 | XTNT XTANT MED HLDGS INC | 3.2% | $53.6m | 68,394,000 | 0% | held | |
| 6 | FULC FULCRUM THERAPEUTICS INC | Healthcare | 2.9% | $48.6m | 4,293,346 | -8% | reduced |
| 7 | BVS BIOVENTUS INC | Healthcare | 2.7% | $45.0m | 6,047,403 | 4% | added |
| 8 | SVRA SAVARA INC | Healthcare | 2.6% | $44.3m | 7,344,783 | -16% | reduced |
| 9 | EOLS EVOLUS INC | Healthcare | 2.3% | $38.7m | 5,820,649 | 2% | added |
| 10 | FOXF FOX FACTORY HLDG CORP | Consumer Cyclical | 2.2% | $37.4m | 2,188,300 | 200% | added |
| 11 | PTON PELOTON INTERACTIVE INC | Consumer Cyclical | 2.2% | $36.5m | 5,932,676 | 60% | added |
| 12 | GOGO GOGO INC | Communication Services | 1.9% | $31.7m | 6,792,649 | – | new |
| 13 | TNGX TANGO THERAPEUTICS INC | Healthcare | 1.9% | $31.7m | 3,572,633 | 97% | added |
| 14 | AMRX AMNEAL PHARMACEUTICALS INC | Healthcare | 1.8% | $30.8m | 2,447,516 | -42% | reduced |
| 15 | EB4 EVENTBRITE INC | 1.8% | $30.5m | 6,854,718 | 0% | held | |
| 16 | IWM ISHARES TR | 1.7% | $28.8m | 117,159 | – | new | |
| 17 | ABEO ABEONA THERAPEUTICS INC | Healthcare | 1.6% | $26.2m | 4,963,052 | 9% | added |
| 18 | RAPT RAPT THERAPEUTICS INC | 1.5% | $25.5m | 754,153 | 21% | added | |
| 19 | GUTS FRACTYL HEALTH INC | 1.4% | $23.9m | 10,846,440 | -11% | reduced | |
| 20 | AVTX AVALO THERAPEUTICS INC | Healthcare | 1.3% | $22.4m | 1,235,000 | 0% | held |
| 21 | ABVX ABIVAX SA | 1.2% | $20.7m | 153,235 | -73% | reduced | |
| 22 | ETON ETON PHARMACEUTICALS INC | 1.2% | $19.9m | 1,175,951 | 0% | held | |
| 23 | GMED GLOBUS MED INC | Healthcare | 1.2% | $19.6m | 224,962 | -25% | reduced |
| 24 | ADCT ADC THERAPEUTICS SA | Healthcare | 1.2% | $19.3m | 5,475,433 | 142% | added |
| 25 | FOSL FOSSIL GROUP INC | Consumer Cyclical | 1.1% | $19.0m | 5,064,359 | 35% | added |
| 26 | TITN TITAN MACHY INC | Industrials | 1.1% | $18.4m | 1,220,520 | 11% | added |
| 27 | RDNW RIDENOW GROUP INC | 1.1% | $18.1m | 3,272,845 | 0% | held | |
| 28 | IMAX IMAX CORP | Communication Services | 1.1% | $17.6m | 477,092 | -52% | reduced |
| 29 | RMR RMR GROUP INC | 1.0% | $17.1m | 1,147,902 | 0% | held | |
| 30 | QURE UNIQURE NV | 1.0% | $16.7m | 699,298 | -31% | reduced | |
| 31 | JACK JACK IN THE BOX INC | Consumer Cyclical | 1.0% | $16.4m | 865,990 | 44% | added |
| 32 | MDXG MIMEDX GROUP INC | Healthcare | 1.0% | $16.4m | 2,416,389 | 65% | added |
| 33 | CRMT AMERICAS CAR-MART INC | 1.0% | $16.3m | 644,686 | 0% | held | |
| 34 | ZVRA ZEVRA THERAPEUTICS INC | 0.9% | $15.9m | 1,771,936 | -10% | reduced | |
| 35 | DNTH DIANTHUS THERAPEUTICS INC | Healthcare | 0.9% | $15.5m | 375,000 | 0% | held |
| 36 | LB PHARMACEUTICALS INC | 0.9% | $15.0m | 675,000 | 0% | held | |
| 37 | TLSI TRISALUS LIFE SCIENCES INC | 0.9% | $14.5m | 2,070,827 | 1% | added | |
| 38 | CATBUSD ASTRIA THERAPEUTICS INC | 0.8% | $14.0m | 1,069,530 | 0% | held | |
| 39 | BENITEC BIOPHARMA INC | 0.8% | $14.0m | 1,038,371 | 24% | added | |
| 40 | APYX APYX MEDICAL CORPORATION | Healthcare | 0.8% | $13.9m | 3,974,091 | 19% | added |
| 41 | UPB UPSTREAM BIO INC | 0.8% | $13.4m | 494,971 | -17% | reduced | |
| 42 | JCAP JEFFERSON CAPITAL INC | 0.8% | $13.4m | 600,000 | 0% | held | |
| 43 | FLWS 1 800 FLOWERS COM INC | Consumer Cyclical | 0.8% | $13.3m | 3,375,065 | 0% | held |
| 44 | SERVICE PPTYS TR | 0.8% | $13.0m | 7,057,887 | 0% | held | |
| 45 | AVR ANTERIS TECHNOLOGIES GLOBAL | 0.8% | $12.6m | 2,530,910 | 32% | added | |
| 46 | GERN GERON CORP | Healthcare | 0.7% | $11.9m | 9,025,000 | 0% | held |
| 47 | AURA AURA BIOSCIENCES INC | 0.7% | $11.5m | 2,117,697 | 0% | held | |
| 48 | USNA USANA HEALTH SCIENCES INC | Consumer Defensive | 0.7% | $11.5m | 585,074 | – | new |
| 49 | HLF HERBALIFE LTD | Consumer Defensive | 0.7% | $11.4m | 881,857 | -6% | reduced |
| 50 | RYAM RAYONIER ADVANCED MATLS INC | Basic Materials | 0.6% | $10.6m | 1,800,000 | 253% | added |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.