Q2 2025 · 13F-HR
Nantahala Capital Management, LLCholdings as filed
Filed 2025-08-14 · accession 0001104659-25-078700
$2.55B
Reported value
158
Positions
2025-06-30
Period end
The Brief · Nantahala Capital Management, LLC · Q2 2025
AI · grounded in 13F
Nantahala Capital Management, LLC established a new position in IWM valued at $776.8M. The fund also initiated new stakes in HGV for $106.5M and SLNO for $83.9M. Other new additions include ESTA at $75.8M, XBI at $66.3M, and HLF at $61.4M. Total assets under management stand at $2.55B across 147 positions.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 464287655 | IWM | ISHARES TR | $776.8M | 30.4% | 3,600,000 | PUT | SOLE |
| 834203309 | SLNO | SOLENO THERAPEUTICS INC | $83.9M | 3.29% | 1,001,350 | Common | SOLE |
| 43283X105 | HGV | HILTON GRAND VACATIONS INC | $82.6M | 3.24% | 1,988,858 | Common | SOLE |
| G31249108 | ESTA | ESTABLISHMENT LABS HLDGS INC | $75.8M | 2.97% | 1,775,530 | Common | SOLE |
| 78464A870 | XBI | SPDR SERIES TRUST | $66.3M | 2.60% | 800,000 | PUT | SOLE |
| 05969A105 | TBBK | BANCORP INC DEL | $55.2M | 2.16% | 968,503 | Common | SOLE |
| G4412G101 | HLF | HERBALIFE LTD | $54.3M | 2.13% | 6,300,000 | CALL | SOLE |
| 98420P308 | XTNT | XTANT MED HLDGS INC | $50.5M | 1.98% | 68,394,000 | Common | SOLE |
| 92556V106 | VTRS | VIATRIS INC | $44.6M | 1.75% | 5,000,000 | CALL | SOLE |
| 30052C107 | EOLS | EVOLUS INC | $38.7M | 1.51% | 4,197,926 | Common | SOLE |
| 03062T105 | CRMT | AMERICAS CAR-MART INC | $36.1M | 1.42% | 644,686 | Common | SOLE |
| 03168L105 | AMRX | AMNEAL PHARMACEUTICALS INC | $35.3M | 1.38% | 4,367,438 | Common | SOLE |
| 09075A108 | BVS | BIOVENTUS INC | $35.0M | 1.37% | 5,280,842 | Common | SOLE |
| 45245E109 | IMAX | IMAX CORP | $31.7M | 1.24% | 1,133,993 | Common | SOLE |
| 359616109 | FULC | FULCRUM THERAPEUTICS INC | $29.5M | 1.16% | 4,288,299 | Common | SOLE |
| N90064101 | QURE | UNIQURE NV | $28.6M | 1.12% | 2,051,852 | Common | SOLE |
| 501147102 | KRYS | KRYSTAL BIOTECH INC | $27.5M | 1.08% | 200,000 | PUT | SOLE |
| 00289Y206 | ABEO | ABEONA THERAPEUTICS INC | $24.8M | 0.97% | 4,369,665 | Common | SOLE |
| 43283X105 | HGV | HILTON GRAND VACATIONS INC | $23.9M | 0.94% | 575,000 | CALL | SOLE |
| 70614W100 | PTON | PELOTON INTERACTIVE INC | $22.7M | 0.89% | 3,267,737 | Common | SOLE |
| 88830R101 | TITN | TITAN MACHY INC | $22.5M | 0.88% | 1,135,552 | Common | SOLE |
| 492327101 | KROS | KEROS THERAPEUTICS INC | $21.6M | 0.85% | 1,620,692 | Common | SOLE |
| 70614W100 | PTON | PELOTON INTERACTIVE INC | $20.8M | 0.82% | 3,000,000 | CALL | SOLE |
| 538034109 | LYV | LIVE NATION ENTERTAINMENT IN | $19.7M | 0.77% | 130,300 | PUT | SOLE |
| 81761L102 | SVC | SERVICE PPTYS TR | $19.3M | 0.75% | 8,057,887 | Common | SOLE |
| 805111101 | SVRA | SAVARA INC | $19.0M | 0.74% | 8,325,375 | Common | SOLE |
| 35138V102 | FOXF | FOX FACTORY HLDG CORP | $18.9M | 0.74% | 728,648 | Common | SOLE |
| 03237H101 | AMLX | AMYLYX PHARMACEUTICALS INC | $18.8M | 0.74% | 2,934,405 | Common | SOLE |
| 74967R106 | RMR | RMR GROUP INC | $18.8M | 0.74% | 1,147,902 | Common | SOLE |
| 640268306 | NKTR | NEKTAR THERAPEUTICS | $18.3M | 0.72% | 709,761 | Common | SOLE |
| 379577208 | GMED | GLOBUS MED INC | $17.7M | 0.69% | 300,000 | CALL | SOLE |
| 87583X109 | TNGX | TANGO THERAPEUTICS INC | $17.6M | 0.69% | 3,439,594 | Common | SOLE |
| 13462K109 | CWH | CAMPING WORLD HLDGS INC | $17.2M | 0.67% | 1,000,000 | CALL | SOLE |
| 29975E109 | EB4 | EVENTBRITE INC | $16.8M | 0.66% | 6,381,395 | Common | SOLE |
| 881624209 | TEVA | TEVA PHARMACEUTICAL INDS LTD | $16.8M | 0.66% | 1,000,000 | CALL | SOLE |
| 29772L108 | ETON | ETON PHARMACEUTICALS INC | $16.8M | 0.66% | 1,175,951 | Common | SOLE |
| 88427A107 | — | THIRD HARMONIC BIO INC | $16.0M | 0.63% | 2,938,700 | Common | SOLE |
| 38046C109 | GOGO | GOGO INC | $15.3M | 0.60% | 1,044,415 | Common | SOLE |
| 254604101 | IRON | DISC MEDICINE INC | $15.2M | 0.60% | 287,800 | Common | SOLE |
| 456237106 | ILPT | INDUSTRIAL LOGISTICS PPTYS T | $14.6M | 0.57% | 3,206,219 | Common | SOLE |
| 12769G100 | CZR | CAESARS ENTERTAINMENT INC NE | $14.2M | 0.56% | 500,000 | CALL | SOLE |
| M96088105 | URGN | UROGEN PHARMA LTD | $13.7M | 0.54% | 1,000,000 | CALL | SOLE |
| 05153U107 | AURA | AURA BIOSCIENCES INC | $13.3M | 0.52% | 2,117,697 | Common | SOLE |
| 488445206 | ZVRA | ZEVRA THERAPEUTICS INC | $13.0M | 0.51% | 1,471,936 | Common | SOLE |
| 92337C203 | VSTM | VERASTEM INC | $12.3M | 0.48% | 2,954,735 | Common | SOLE |
| 19240Q201 | COGT | COGENT BIOSCIENCES INC | $11.9M | 0.47% | 1,655,689 | Common | SOLE |
| 20451W101 | CMPS | COMPASS PATHWAYS PLC | $11.7M | 0.46% | 4,179,930 | Common | SOLE |
| 00370M103 | ABVX | ABIVAX SA | $11.3M | 0.44% | 1,482,994 | Common | SOLE |
| 47248R103 | JCAP | JEFFERSON CAPITAL INC | $11.1M | 0.43% | 600,000 | Common | SOLE |
| 76119X105 | RSVR | RESERVOIR MEDIA INC | $11.1M | 0.43% | 1,442,136 | Common | SOLE |
| 89680M101 | TLSI | TRISALUS LIFE SCIENCES INC | $10.9M | 0.43% | 2,000,000 | Common | SOLE |
| 466367109 | JACK | JACK IN THE BOX INC | $10.5M | 0.41% | 600,000 | Common | SOLE |
| 76200L309 | RZLT | REZOLUTE INC | $10.2M | 0.40% | 2,291,395 | Common | SOLE |
| 872381108 | TELA | TELA BIO INC | $9.9M | 0.39% | 5,111,588 | Common | SOLE |
| 68243Q106 | FLWS | 1 800 FLOWERS COM INC | $9.8M | 0.39% | 2,000,000 | Common | SOLE |
| 192005106 | CDXS | CODEXIS INC | $9.8M | 0.39% | 4,030,619 | Common | SOLE |
| 08205P209 | BNTC | BENITEC BIOPHARMA INC | $9.8M | 0.38% | 838,095 | Common | SOLE |
| 75704L104 | RDVT | RED VIOLET INC | $9.6M | 0.37% | 194,339 | Common | SOLE |
| 74967X103 | RH | RH | $9.5M | 0.37% | 50,000 | CALL | SOLE |
| 89157D105 | TRML | TOURMALINE BIO INC | $8.9M | 0.35% | 558,187 | Common | SOLE |
| 88338K103 | STKS | THE ONE GROUP HOSPITALITY IN | $8.6M | 0.34% | 2,121,084 | Common | SOLE |
| 83422E204 | SLDB | SOLID BIOSCIENCES INC | $8.3M | 0.33% | 1,703,336 | Common | SOLE |
| 253393102 | DKS | DICKS SPORTING GOODS INC | $7.9M | 0.31% | 40,000 | Common | SOLE |
| 75382E208 | RAPT | RAPT THERAPEUTICS INC | $7.6M | 0.30% | 951,613 | Common | SOLE |
| 781386305 | RDNW | RUMBLEON INC | $7.6M | 0.30% | 3,272,845 | Common | SOLE |
| 34988V106 | FOSL | FOSSIL GROUP INC | $7.5M | 0.30% | 5,087,803 | Common | SOLE |
| 03837C106 | APYX | APYX MEDICAL CORPORATION | $7.5M | 0.29% | 3,338,048 | Common | SOLE |
| 152309100 | CNTA | CENTESSA PHARMACEUTICALS PLC | $7.3M | 0.29% | 554,803 | Common | SOLE |
| 00972D105 | AKBA | AKEBIA THERAPEUTICS INC | $7.3M | 0.29% | 2,000,000 | Common | SOLE |
| 26818M108 | DYN | DYNE THERAPEUTICS INC | $7.1M | 0.28% | 745,062 | Common | SOLE |
| G4412G101 | HLF | HERBALIFE LTD | $7.1M | 0.28% | 822,298 | Common | SOLE |
| 87164F105 | SNDX | SYNDAX PHARMACEUTICALS INC | $7.1M | 0.28% | 754,503 | Common | SOLE |
| 23331S100 | DHX | DHI GROUP INC | $7.1M | 0.28% | 2,374,027 | Common | SOLE |
| 02128L106 | ALTG | ALTA EQUIPMENT GROUP INC | $6.6M | 0.26% | 1,042,769 | Common | SOLE |
| 91678A107 | UPB | UPSTREAM BIO INC | $6.5M | 0.26% | 594,971 | Common | SOLE |
| 98401F105 | XNCR | XENCOR INC | $6.4M | 0.25% | 820,103 | Common | SOLE |
| 92663R105 | VMD | VIEMED HEALTHCARE INC | $6.4M | 0.25% | 932,445 | Common | SOLE |
| 03675P102 | AVR | ANTERIS TECHNOLOGIES GLOBAL | $6.4M | 0.25% | 1,693,666 | Common | SOLE |
| 05479K106 | ELUT | ELUTIA INC | $6.3M | 0.25% | 3,184,947 | Common | SOLE |
| H0036K147 | ADCT | ADC THERAPEUTICS SA | $6.1M | 0.24% | 2,266,289 | Common | SOLE |
| 82686Q101 | SLN | SILENCE THERAPEUTICS PLC | $6.0M | 0.24% | 1,042,427 | Common | SOLE |
| 46565G104 | 5E7 | ITEOS THERAPEUTICS INC | $5.9M | 0.23% | 596,666 | Common | SOLE |
| 520776105 | DSGR | DISTRIBUTION SOLUTIONS GRP I | $5.8M | 0.23% | 210,800 | Common | SOLE |
| 04635X102 | CATBUSD | ASTRIA THERAPEUTICS INC | $5.7M | 0.22% | 1,069,530 | Common | SOLE |
| 88338H704 | TQ80 | THERATECHNOLOGIES INC | $5.7M | 0.22% | 2,422,563 | Common | SOLE |
| 28238P109 | EHTH | EHEALTH INC | $5.7M | 0.22% | 1,311,441 | Common | SOLE |
| 04546C205 | ASRT | ASSERTIO HOLDINGS INC | $5.6M | 0.22% | 8,810,073 | Common | SOLE |
| 697947109 | PVLA | PALVELLA THERAPEUTICS INC NE | $5.6M | 0.22% | 250,062 | Common | SOLE |
| 30233G209 | EYPT | EYEPOINT PHARMACEUTICALS INC | $5.6M | 0.22% | 593,091 | Common | SOLE |
| 45779A846 | NSPR | INSPIREMD INC | $5.3M | 0.21% | 2,318,017 | Common | SOLE |
| 629337106 | NNBR | NN INC | $5.1M | 0.20% | 2,441,416 | Common | SOLE |
| 05338F306 | AVTX | AVALO THERAPEUTICS INC | $5.0M | 0.19% | 995,000 | Common | SOLE |
| 603170101 | MLYS | MINERALYS THERAPEUTICS INC | $4.8M | 0.19% | 353,982 | Common | SOLE |
| 405217100 | HAIN | HAIN CELESTIAL GROUP INC | $4.6M | 0.18% | 3,000,000 | Common | SOLE |
| 90466Y202 | UNCY | UNICYCIVE THERAPEUTICS INC | $4.6M | 0.18% | 939,202 | Common | SOLE |
| 14179K101 | CRGX | CARGO THERAPEUTICS INC | $4.5M | 0.18% | 1,100,000 | Common | SOLE |
| 034569103 | ANEB | ANEBULO PHARMACEUTICALS INC | $4.4M | 0.17% | 3,036,325 | Common | SOLE |
| 45719W205 | IKT | INHIBIKASE THERAPEUTICS INC | $4.3M | 0.17% | 2,190,000 | Common | SOLE |
| 22053A107 | QNCX | QUINCE THERAPEUTICS INC | $4.2M | 0.16% | 2,528,302 | Common | SOLE |
| 36269P104 | GAIA | GAIA INC NEW | $4.0M | 0.16% | 914,618 | Common | SOLE |
| 92840H400 | VTGN | VISTAGEN THERAPEUTICS INC | $4.0M | 0.16% | 1,978,492 | Common | SOLE |
| 781386305 | RDNW | RUMBLEON INC | $3.9M | 0.15% | 1,700,000 | CALL | SOLE |
| 810648105 | SCPH | SCPHARMACEUTICALS INC | $3.8M | 0.15% | 995,438 | Common | SOLE |
| 92539P101 | — | VERVE THERAPEUTICS INC | $3.7M | 0.15% | 331,437 | Common | SOLE |
| 00439U104 | GRCE | GRACE THERAPEUTICS INC | $3.5M | 0.14% | 1,178,203 | Common | SOLE |
| 86366E106 | GPCR | STRUCTURE THERAPEUTICS INC | $3.5M | 0.14% | 168,553 | Common | SOLE |
| 492327101 | KROS | KEROS THERAPEUTICS INC | $3.3M | 0.13% | 250,000 | CALL | SOLE |
| 70451X104 | PAYO | PAYONEER GLOBAL INC | $3.3M | 0.13% | 483,836 | Common | SOLE |
| 641288105 | NPCE | NEUROPACE INC | $3.3M | 0.13% | 295,089 | Common | SOLE |
| 65540B105 | NDLSUSD | NOODLES & CO | $3.2M | 0.13% | 4,505,489 | Common | SOLE |
| 67577R102 | IRD | OPUS GENETICS INC | $3.2M | 0.12% | 3,345,923 | Common | SOLE |
| 86366E106 | GPCR | STRUCTURE THERAPEUTICS INC | $3.1M | 0.12% | 150,000 | CALL | SOLE |
| 199333105 | CMCO | COLUMBUS MCKINNON CORP N Y | $3.1M | 0.12% | 203,628 | Common | SOLE |
| 28617K101 | ELDN | ELEDON PHARMACEUTICALS INC | $3.1M | 0.12% | 1,141,237 | Common | SOLE |
| 00289Y206 | ABEO | ABEONA THERAPEUTICS INC | $3.0M | 0.12% | 520,000 | CALL | SOLE |
| 500688106 | KOS | KOSMOS ENERGY LTD | $3.0M | 0.12% | 1,716,593 | Common | SOLE |
| 25065K104 | DXLG | DESTINATION XL GROUP INC | $2.9M | 0.11% | 2,576,774 | Common | SOLE |
| 12769G100 | CZR | CAESARS ENTERTAINMENT INC NE | $2.8M | 0.11% | 98,879 | Common | SOLE |
| 755408101 | RDI | READING INTL INC | $2.6M | 0.10% | 1,921,088 | Common | SOLE |
| 29415J106 | NVNO | ENVVENO MEDICAL CORPORATION | $2.4M | 0.09% | 594,661 | Common | SOLE |
| 054754858 | AYTU | AYTU BIOPHARMA INC | $2.4M | 0.09% | 1,086,812 | Common | SOLE |
| 50015M109 | KOD | KODIAK SCIENCES INC | $2.2M | 0.09% | 590,884 | Common | SOLE |
| G7T96K107 | SRL | SCULLY ROYALTY LTD | $2.1M | 0.08% | 368,182 | Common | SOLE |
| 86889P208 | SRZN | SURROZEN INC | $2.1M | 0.08% | 229,527 | Common | SOLE |
| 004468500 | ACHV | ACHIEVE LIFE SCIENCES INC | $2.0M | 0.08% | 898,885 | Common | SOLE |
| 81726A209 | — | SENTI BIOSCIENCES INC | $1.9M | 0.07% | 888,000 | Common | SOLE |
| 984241109 | YMABUSD | Y-MABS THERAPEUTICS INC | $1.6M | 0.06% | 351,878 | Common | SOLE |
| 872381108 | TELA | TELA BIO INC | $1.5M | 0.06% | 750,000 | CALL | SOLE |
| G7006A109 | PERF | PERFECT CORP | $1.3M | 0.05% | 583,925 | Common | SOLE |
| 27966L306 | EDSA | EDESA BIOTECH INC | $1.3M | 0.05% | 625,000 | Common | SOLE |
| 21077P108 | CNTX | CONTEXT THERAPEUTICS INC | $1.3M | 0.05% | 1,935,484 | Common | SOLE |
| L0175J112 | ASPSW | ALTISOURCE PORTFOLIO SOLUTIO | $1.3M | 0.05% | 2,477,312 | Common | SOLE |
| L0175J120 | ASPSZ | ALTISOURCE PORTFOLIO SOLUTIO | $1.2M | 0.05% | 2,477,312 | Common | SOLE |
| L0175J104 | ASPS | ALTISOURCE PORTFOLIO SOLUTIO | $1.2M | 0.05% | 135,601 | Common | SOLE |
| 23725P209 | DRIOEUR | DARIOHEALTH CORP | $1.1M | 0.04% | 1,692,303 | Common | SOLE |
| 09090D301 | PHGE | BIOMX INC | $1.1M | 0.04% | 2,493,309 | Common | SOLE |
| 86272A305 | SSKN | STRATA SKIN SCIENCES INC | $924,970 | 0.04% | 403,917 | Common | SOLE |
| 30052C107 | EOLS | EVOLUS INC | $921,000 | 0.04% | 100,000 | CALL | SOLE |
| 00444T209 | TLPH | TALPHERA INC | $916,957 | 0.04% | 1,992,519 | Common | SOLE |
| 679369108 | OLPX | OLAPLEX HLDGS INC | $910,000 | 0.04% | 650,000 | Common | SOLE |
| 004816104 | ACU | ACME UTD CORP | $846,699 | 0.03% | 20,427 | Common | SOLE |
| 59100U108 | CASH | PATHWARD FINANCIAL INC | $659,940 | 0.03% | 8,341 | Common | SOLE |
| 784933103 | SGRP | SPAR GROUP INC | $634,260 | 0.02% | 660,688 | Common | SOLE |
| 49721T507 | KPRX | KIORA PHARMACEUTICALS INC | $607,997 | 0.02% | 211,110 | Common | SOLE |
| 34960Q307 | FBIO | FORTRESS BIOTECH INC | $605,467 | 0.02% | 325,520 | Common | SOLE |
| 30068X103 | XGN | EXAGEN INC | $427,078 | 0.02% | 61,186 | Common | SOLE |
| 30049G302 | EVOK | EVOKE PHARMA INC | $385,198 | 0.02% | 148,153 | Common | SOLE |
| 03836J201 | APRE | APREA THERAPEUTICS INC | $347,734 | 0.01% | 205,760 | Common | SOLE |
| 505743104 | LADR | LADDER CAP CORP | $273,061 | 0.01% | 25,401 | Common | SOLE |
| 168905107 | PLCE | CHILDRENS PL INC NEW | $252,643 | 0.01% | 57,030 | Common | SOLE |
| 68277Q105 | OKUR | ONKURE THERAPEUTICS INC | $129,557 | 0.01% | 54,208 | Common | SOLE |
| 54948X109 | LUCD | LUCID DIAGNOSTICS INC | $108,722 | 0.00% | 94,541 | Common | SOLE |
| M96088105 | URGN | UROGEN PHARMA LTD | $91,831 | 0.00% | 6,703 | Common | SOLE |
| 892918103 | TACT | TRANSACT TECHNOLOGIES INC | $55,068 | 0.00% | 15,046 | Common | SOLE |
| G4236L120 | GFAIW | GUARDFORCE AI CO LTD | $37,703 | 0.00% | 154,205 | Common | SOLE |
| 09075X108 | BDSX | BIODESIX INC | $23,960 | 0.00% | 84,903 | Common | SOLE |
| G7006A117 | PERFF | PERFECT CORP | $660 | 0.00% | 16,075 | Common | SOLE |
| N44445117 | IMTXW | IMMATICS N.V | $149 | 0.00% | 248,506 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.