Nantahala Capital Management portfolio

What changed this quarter

92 positions with a change (14 new, 24 added to, 40 trimmed, 14 sold); also, 5 entered through an IPO, 5 exited through an acquisition or merger, 2 entered through a spin-off. 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Establishment Labs Holdings−60%fewer sharesReduced
  3.0% → 1.7%
• Peloton Interactive−57%fewer sharesReduced
  3.2% → 1.8%
• Hilton Grand Vacations−32%fewer sharesReduced
  3.7% → 3.3%
• Tango Therapeutics−60%fewer sharesReduced
  1.6% → 0.9%
• Anteris Technologies Global−39%fewer sharesReduced
  1.9% → 2.0%
• Adma Biologics+1.2 ppof portfolioNew
  — → 1.2%
• Vor Biopharma+0.9 ppof portfolioNew
  — → 0.9%
• Planet Fitness+0.9 ppof portfolioNew
  — → 0.9%
• Inspire Medical Systems+0.7 ppof portfolioNew
  — → 0.7%
• Avalo Therapeutics+51%more sharesIncreased
  1.2% → 2.1%
• Zevra Therapeutics−29%fewer sharesReduced
  1.5% → 1.6%
• Inventiva+0.6 ppof portfolioNew
  — → 0.6%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• BancorpTBBK4.7%
• BioventusBVS3.4%
• Hilton Grand VacationsHGV3.3%
• SavaraSVRA2.6%
• Eton PharmaceuticalsETON2.6%
• Amneal PharmaceuticalsAMRX2.4%
• EvolusEOLS2.4%
• Avalo TherapeuticsAVTX2.1%
• LB PharmaceuticalsLBRX2.1%
• Anteris Technologies GlobalAVR2.0%
• Abeona TherapeuticsABEO1.9%
• Peloton InteractivePTON1.8%
• Establishment Labs HoldingsESTA1.7%
• Xtant Medical HoldingsXTNT1.7%
• JACK In the BoxJACK1.7%
• GogoGOGO1.6%
• IMAXIMAX1.6%
• Zevra TherapeuticsZVRA1.6%
• Titan MachineryTITN1.4%
• RMR GroupRMR1.4%
• Fossil GroupFOSL1.4%
• Fox Factory HoldingFOXF1.3%
• Mineralys TherapeuticsMLYS1.3%
• RideNow GroupRDNW1.3%
• uniQureQURE1.3%
• Aura BiosciencesAURA1.3%
• AgomAb TherapeuticsAGMB1.2%
• Fulcrum TherapeuticsFULC1.2%
• Benitec BiopharmaBNTC1.2%
• ADMA BiologicsADMA1.2%
• Camping World HoldingsCWH1.2%
• Biocryst PharmaceuticalsBCRX1.2%
• Mimedx GroupMDXG1.1%
• AbivaxABVX1.1%
• Usana Health SciencesUSNA1.0%
• Monte Rosa TherapeuticsGLUE1.0%
• Tango TherapeuticsTNGX0.9%
• GeronGERN0.9%
• Vor BiopharmaVOR0.9%
• Keros TherapeuticsKROS0.9%
• Silence TherapeuticsSLN0.9%
• Apyx MedicalAPYX0.9%
• Jefferson CapitalJCAP0.9%
• HerbalifeHLF0.9%
• Planet FitnessPLNT0.9%
• VerastemVSTM0.8%
• Distribution Solutions GroupDSGR0.8%
• Rayonier Advanced MaterialsRYAM0.8%
• Helix Acquisition Corp. IIIHLXC0.8%
• ADC TherapeuticsADCT0.8%
• VaxcytePCVX0.8%
• Opus GeneticsIRD0.8%
• Janux TherapeuticsJANX0.8%
• Amanat AcquisitionAMAN0.7%
• Inspire Medical SystemsINSP0.7%
• 1 800 FlowersFLWS0.7%
• X4 PharmaceuticalsXFOR0.7%
• Integer HoldingsITGR0.6%
• InventivaIVA0.6%
• Industrial Logistics Properties TrustILPT0.6%
• DuolingoDUOL0.6%
• Reservoir MediaRSVR0.6%
• Service Properties Trust0.5%
• Fractyl HealthGUTS0.5%
• DHI GroupDHX0.5%
• Amylyx PharmaceuticalsAMLX0.5%
• Korro BioKRRO0.5%
• AlectorALEC0.5%
• NoodlesNDLS0.5%
• CodexisCDXS0.5%
• Perspective TherapeuticsCATX0.5%
• Irenic AcquisitionIACQU(unit)0.5%
• Damora Therapeutics0.4%
• Viemed HealthcareVMD0.4%
• Unicycive TherapeuticsUNCY0.4%
• TraegerCOOK0.4%
• Forrester ResearchFORR0.4%
• Lexeo TherapeuticsLXEO0.4%
• RHRH0.4%
• Envoy MedicalCOCH0.4%
• Eloxx PharmaceuticalsELOX0.3%
• Inhibikase TherapeuticsIKT0.3%
• First Tracks BiotherapeuticsTRAX0.3%
• Hain Celestial GroupHAIN0.3%
• Alta Equipment GroupALTG0.3%
• OrthoPediatricsKIDS0.3%
• AltimmuneALT0.3%
• TriSalus Life SciencesTLSI0.3%
• TELA BioTELA0.3%
• One Group HospitalitySTKS0.3%
• DarioHealthDRIO0.2%
• ImmunicIMUX0.2%
• ZAI LabZLAB0.2%
• TalpheraTLPH0.2%
• Chime FinancialCHYM0.2%
• Venu HoldingVENU0.2%
• Payoneer GlobalPAYO0.2%
• ElutiaELUT0.2%
• Kailera TherapeuticsKLRA0.2%
• RallybioRLYB0.2%