13F Insight
DOSSIER · 13F-HR · Q2 2026

Nantahala Capital Management, LLC

$6.0B in tracked AUM across 307 positions as of Q2 2026.

NC
CIK 0001472322 · last filed Jun 30, 2026
Total AUM
$6.0B
as of Q2 2026
Holdings
307
—
positions
Whale Score
71
71
strong
Activity
—
no data
changes this Q
AI Analysis · Q2 2026
Comprehensive Analysis of Nantahala Capital Management 13F Filing (Q3 2025)
1. Portfolio Overview

For the quarter ending September 30, 2025, Nantahala Capital Management reported a significant contraction in assets under management (AUM), with the total portfolio value decreasing by 43.5% from $2.55 billion to $1.44 billion. This reduction is attributed to a combination of active capital reallocation and a major strategic pivot away from broad market exposure. The firm maintains a focused...

The management strategy appears highly active, characterized by a high turnover rate. During the quarter, the firm executed 20 new positions and exited 20 positions, completely replacing a significant portion of the portfolio's capital deployment. The most notable driver of the AUM reduction was the liquidation of a massive position in the iShares Russell 2000 ETF (IWM), which alone accounted for over $776 million in the previous quarter. This move signals a decisive shift away from passive beta toward a selection of specific, high-conviction idiosyncratic plays.

2. Key Holdings
Analysis generated by 13F Insight from SEC Form 13F filing data · Q2 2026. Methodology

Quarter at a glance — Q2 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q2 2026.

#HoldingValueSharesWeight
01
IWM
ISHARES TR
$1.2B4.0M20.0%02
PTON
PELOTON INTERACTIVE INC
$255M43.1M4.2%03
HGV
HILTON GRAND VACATIONS INC
$221M4.2M3.7%04
G4412G101
HERBALIFE LTD
$203M15.4M3.4%05
TBBK
BANCORP INC DEL
$171M2.7M2.8%06
VTRS
VIATRIS INC
$159M10.0M2.6%07
EW
EDWARDS LIFESCIENCES CORP
$145M1.6M2.4%08
N90064101
UNIQURE NV
$131M2.8M2.2%09
XBI
SPDR SERIES TRUST
$127M800K2.1%10
BVS
BIOVENTUS INC
$113M12.0M1.9%

Filing history

2026Q2Jun 30
$6.0B▲ 121.6%
307 positionsView →2026Q1Mar 31
$2.7B▼ 10.2%
152 positionsView →2025Q4Dec 31
$3.0B▲ 109.9%
153 positionsView →2025Q3Sep 30
$1.4B▼ 43.5%
100 positionsView →2025Q2Jun 30
$2.6B▲ 137.2%
158 positionsLocked2025Q1Mar 31
$1.1B▼ 53.8%
99 positionsLocked2024Q4Dec 31
$2.3B▲ 17.8%
137 positionsLocked2024Q3Sep 30
$2.0B▲ 15.5%
140 positionsLocked2024Q2Jun 30
$1.7B▼ 2.3%
130 positionsLocked2024Q1Mar 31
$1.8B▲ 4.7%
124 positionsLocked2023Q4Dec 31
$1.7B▲ 42.9%
128 positionsLocked2023Q3Sep 30
$1.2B▲ 13.2%
133 positionsLocked
Showing 12 of 56