Q3 2025 · 13F-HR
Nantahala Capital Management, LLCholdings as filed
Filed 2025-11-14 · accession 0001104659-25-112624
$2.88B
Reported value
153
Positions
2025-09-30
Period end
The Brief · Nantahala Capital Management, LLC · Q3 2025
AI · grounded in 13F
Nantahala Capital Management, LLC established a new position in IWM valued at $641.2M. The fund also initiated new stakes in EW for $140M and HGV for $93.8M. Other new additions include ESTA at $80.9M and PTON at $73.8M. Total assets under management stand at $2.88B across 143 positions.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 464287655 | IWM | ISHARES TR | $641.2M | 22.3% | 2,650,000 | PUT | SOLE |
| 28176E108 | EW | EDWARDS LIFESCIENCES CORP | $140.0M | 4.86% | 1,800,000 | PUT | SOLE |
| G31249108 | ESTA | ESTABLISHMENT LABS HLDGS INC | $80.9M | 2.81% | 1,973,492 | Common | SOLE |
| 78464A870 | XBI | SPDR SERIES TRUST | $70.1M | 2.44% | 700,000 | PUT | SOLE |
| 43283X105 | HGV | HILTON GRAND VACATIONS INC | $69.7M | 2.42% | 1,667,753 | Common | SOLE |
| 05969A105 | TBBK | BANCORP INC DEL | $63.8M | 2.22% | 852,334 | Common | SOLE |
| N90064101 | QURE | UNIQURE NV | $58.8M | 2.04% | 1,007,492 | Common | SOLE |
| 834203309 | SLNO | SOLENO THERAPEUTICS INC | $58.4M | 2.03% | 863,763 | Common | SOLE |
| G4412G101 | HLF | HERBALIFE LTD | $57.4M | 1.99% | 6,800,000 | CALL | SOLE |
| 881624209 | TEVA | TEVA PHARMACEUTICAL INDS LTD | $50.5M | 1.75% | 2,500,000 | CALL | SOLE |
| 92556V106 | VTRS | VIATRIS INC | $49.5M | 1.72% | 5,000,000 | CALL | SOLE |
| 00370M103 | ABVX | ABIVAX SA | $47.3M | 1.64% | 557,564 | Common | SOLE |
| 98420P308 | XTNT | XTANT MED HLDGS INC | $44.4M | 1.54% | 68,394,000 | Common | SOLE |
| 359616109 | FULC | FULCRUM THERAPEUTICS INC | $43.0M | 1.49% | 4,670,784 | Common | SOLE |
| 03168L105 | AMRX | AMNEAL PHARMACEUTICALS INC | $42.3M | 1.47% | 4,224,564 | Common | SOLE |
| 70614W100 | PTON | PELOTON INTERACTIVE INC | $40.5M | 1.41% | 4,500,000 | CALL | SOLE |
| 09075A108 | BVS | BIOVENTUS INC | $38.9M | 1.35% | 5,810,662 | Common | SOLE |
| 501147102 | KRYS | KRYSTAL BIOTECH INC | $35.3M | 1.23% | 200,000 | PUT | SOLE |
| 30052C107 | EOLS | EVOLUS INC | $35.2M | 1.22% | 5,726,857 | Common | SOLE |
| 70614W100 | PTON | PELOTON INTERACTIVE INC | $33.3M | 1.16% | 3,697,700 | Common | SOLE |
| 45245E109 | IMAX | IMAX CORP | $32.6M | 1.13% | 996,150 | Common | SOLE |
| 13462K109 | CWH | CAMPING WORLD HLDGS INC | $31.6M | 1.10% | 2,000,000 | CALL | SOLE |
| 805111101 | SVRA | SAVARA INC | $31.3M | 1.09% | 8,775,375 | Common | SOLE |
| 29772L108 | ETON | ETON PHARMACEUTICALS INC | $25.6M | 0.89% | 1,175,951 | Common | SOLE |
| 00289Y206 | ABEO | ABEONA THERAPEUTICS INC | $24.1M | 0.84% | 4,564,665 | Common | SOLE |
| 43283X105 | HGV | HILTON GRAND VACATIONS INC | $24.0M | 0.83% | 575,000 | CALL | SOLE |
| 640268306 | NKTR | NEKTAR THERAPEUTICS | $23.8M | 0.83% | 418,522 | Common | SOLE |
| 75886F107 | REGN | REGENERON PHARMACEUTICALS | $22.5M | 0.78% | 40,000 | CALL | SOLE |
| 19240Q201 | COGT | COGENT BIOSCIENCES INC | $21.6M | 0.75% | 1,506,989 | Common | SOLE |
| 538034109 | LYV | LIVE NATION ENTERTAINMENT IN | $21.3M | 0.74% | 130,300 | PUT | SOLE |
| 492327101 | KROS | KEROS THERAPEUTICS INC | $19.5M | 0.68% | 1,233,189 | Common | SOLE |
| 35168W103 | GUTS | FRACTYL HEALTH INC | $19.3M | 0.67% | 12,136,917 | Common | SOLE |
| 81761L102 | SVC | SERVICE PPTYS TR | $19.1M | 0.66% | 7,057,887 | Common | SOLE |
| 254604101 | IRON | DISC MEDICINE INC | $19.0M | 0.66% | 287,800 | Common | SOLE |
| 03062T105 | CRMT | AMERICAS CAR-MART INC | $18.8M | 0.65% | 644,686 | Common | SOLE |
| 488445206 | ZVRA | ZEVRA THERAPEUTICS INC | $18.8M | 0.65% | 1,971,936 | Common | SOLE |
| 88830R101 | TITN | TITAN MACHY INC | $18.4M | 0.64% | 1,096,232 | Common | SOLE |
| 74967R106 | RMR | RMR GROUP INC | $18.1M | 0.63% | 1,147,902 | Common | SOLE |
| 35138V102 | FOXF | FOX FACTORY HLDG CORP | $17.7M | 0.61% | 728,648 | Common | SOLE |
| 29975E109 | EB4 | EVENTBRITE INC | $17.2M | 0.60% | 6,831,395 | Common | SOLE |
| 379577208 | GMED | GLOBUS MED INC | $17.2M | 0.60% | 300,000 | Common | SOLE |
| 75382E208 | RAPT | RAPT THERAPEUTICS INC | $16.1M | 0.56% | 623,282 | Common | SOLE |
| 05338F306 | AVTX | AVALO THERAPEUTICS INC | $15.7M | 0.55% | 1,235,000 | Common | SOLE |
| 697947109 | PVLA | PALVELLA THERAPEUTICS INC NE | $15.7M | 0.54% | 250,062 | Common | SOLE |
| 68243Q106 | FLWS | 1 800 FLOWERS COM INC | $15.5M | 0.54% | 3,368,065 | Common | SOLE |
| 87583X109 | TNGX | TANGO THERAPEUTICS INC | $15.2M | 0.53% | 1,809,948 | Common | SOLE |
| 252828108 | DNTH | DIANTHUS THERAPEUTICS INC | $14.8M | 0.51% | 375,000 | Common | SOLE |
| 781386305 | RDNW | RIDENOW GROUP INC | $14.4M | 0.50% | 3,272,845 | Common | SOLE |
| 770700102 | HOOD | ROBINHOOD MKTS INC | $14.3M | 0.50% | 100,000 | PUT | SOLE |
| 12769G100 | CZR | CAESARS ENTERTAINMENT INC NE | $13.5M | 0.47% | 500,000 | CALL | SOLE |
| 05153U107 | AURA | AURA BIOSCIENCES INC | $13.1M | 0.45% | 2,117,697 | Common | SOLE |
| 98401F105 | XNCR | XENCOR INC | $12.9M | 0.45% | 1,100,000 | Common | SOLE |
| 03237H101 | AMLX | AMYLYX PHARMACEUTICALS INC | $12.7M | 0.44% | 935,684 | Common | SOLE |
| 016255101 | ALGN | ALIGN TECHNOLOGY INC | $12.5M | 0.43% | 100,000 | CALL | SOLE |
| 374163103 | GERN | GERON CORP | $12.4M | 0.43% | 9,025,000 | Common | SOLE |
| 466367109 | JACK | JACK IN THE BOX INC | $11.9M | 0.41% | 600,000 | Common | SOLE |
| 08205P209 | BNTC | BENITEC BIOPHARMA INC | $11.8M | 0.41% | 838,095 | Common | SOLE |
| 92337C203 | VSTM | VERASTEM INC | $11.4M | 0.40% | 1,292,903 | Common | SOLE |
| 91678A107 | UPB | UPSTREAM BIO INC | $11.2M | 0.39% | 594,971 | Common | SOLE |
| 50180M108 | LBRX | LB PHARMACEUTICALS INC | $10.7M | 0.37% | 675,000 | Common | SOLE |
| 83422E204 | SLDB | SOLID BIOSCIENCES INC | $10.5M | 0.36% | 1,699,258 | Common | SOLE |
| 47248R103 | JCAP | JEFFERSON CAPITAL INC | $10.4M | 0.36% | 600,000 | Common | SOLE |
| 86366E106 | GPCR | STRUCTURE THERAPEUTICS INC | $10.3M | 0.36% | 368,553 | Common | SOLE |
| 602496101 | MDXG | MIMEDX GROUP INC | $10.2M | 0.36% | 1,466,566 | Common | SOLE |
| 74967X103 | RH | RH | $10.2M | 0.35% | 50,000 | CALL | SOLE |
| 20451W101 | CMPS | COMPASS PATHWAYS PLC | $9.9M | 0.34% | 1,729,930 | Common | SOLE |
| 192005106 | CDXS | CODEXIS INC | $9.8M | 0.34% | 4,030,619 | Common | SOLE |
| 152309100 | CNTA | CENTESSA PHARMACEUTICALS PLC | $9.8M | 0.34% | 404,803 | Common | SOLE |
| 23725P308 | DRIO | DARIOHEALTH CORP | $9.8M | 0.34% | 563,233 | Common | SOLE |
| 456237106 | ILPT | INDUSTRIAL LOGISTICS PPTYS T | $9.8M | 0.34% | 1,675,273 | Common | SOLE |
| 34988V106 | FOSL | FOSSIL GROUP INC | $9.6M | 0.33% | 3,741,157 | Common | SOLE |
| 89680M101 | TLSI | TRISALUS LIFE SCIENCES INC | $9.5M | 0.33% | 2,040,245 | Common | SOLE |
| H0036K147 | ADCT | ADC THERAPEUTICS SA | $9.1M | 0.31% | 2,266,289 | Common | SOLE |
| 26818M108 | DYN | DYNE THERAPEUTICS INC | $8.9M | 0.31% | 702,884 | Common | SOLE |
| 03675P102 | AVR | ANTERIS TECHNOLOGIES GLOBAL | $8.6M | 0.30% | 1,918,666 | Common | SOLE |
| 75704L104 | RDVT | RED VIOLET INC | $8.6M | 0.30% | 164,339 | Common | SOLE |
| 23282W605 | CYTK | CYTOKINETICS INC | $8.2M | 0.29% | 150,000 | Common | SOLE |
| 45779A846 | NSPR | INSPIREMD INC | $8.1M | 0.28% | 3,376,484 | Common | SOLE |
| G4412G101 | HLF | HERBALIFE LTD | $8.0M | 0.28% | 942,431 | Common | SOLE |
| 04635X102 | CATBUSD | ASTRIA THERAPEUTICS INC | $7.8M | 0.27% | 1,069,530 | Common | SOLE |
| 04546C205 | ASRT | ASSERTIO HOLDINGS INC | $7.8M | 0.27% | 8,810,073 | Common | SOLE |
| 76119X105 | RSVR | RESERVOIR MEDIA INC | $7.7M | 0.27% | 950,960 | Common | SOLE |
| 98420X202 | XFOR | X4 PHARMACEUTICALS INC | $7.6M | 0.26% | 2,228,350 | Common | SOLE |
| 872381108 | TELA | TELA BIO INC | $7.6M | 0.26% | 5,111,588 | Common | SOLE |
| 28238P109 | EHTH | EHEALTH INC | $7.6M | 0.26% | 1,761,441 | Common | SOLE |
| 034569103 | ANEB | ANEBULO PHARMACEUTICALS INC | $7.6M | 0.26% | 3,036,325 | Common | SOLE |
| 781386305 | RDNW | RIDENOW GROUP INC | $7.5M | 0.26% | 1,700,000 | CALL | SOLE |
| 24661P807 | DCTH | DELCATH SYS INC | $7.2M | 0.25% | 666,435 | Common | SOLE |
| 03837C106 | APYX | APYX MEDICAL CORPORATION | $7.1M | 0.25% | 3,338,048 | Common | SOLE |
| 92840H400 | VTGN | VISTAGEN THERAPEUTICS INC | $7.0M | 0.24% | 1,978,492 | Common | SOLE |
| 520776105 | DSGR | DISTRIBUTION SOLUTIONS GRP I | $6.9M | 0.24% | 230,339 | Common | SOLE |
| 02128L106 | ALTG | ALTA EQUIPMENT GROUP INC | $6.8M | 0.24% | 934,774 | Common | SOLE |
| 834203309 | SLNO | SOLENO THERAPEUTICS INC | $6.8M | 0.23% | 100,000 | CALL | SOLE |
| 23331S100 | DHX | DHI GROUP INC | $6.6M | 0.23% | 2,374,027 | Common | SOLE |
| 199333105 | CMCO | COLUMBUS MCKINNON CORP N Y | $6.5M | 0.22% | 450,000 | Common | SOLE |
| 92663R105 | VMD | VIEMED HEALTHCARE INC | $6.3M | 0.22% | 932,445 | Common | SOLE |
| 88338K103 | STKS | THE ONE GROUP HOSPITALITY IN | $6.3M | 0.22% | 2,121,084 | Common | SOLE |
| 603170101 | MLYS | MINERALYS THERAPEUTICS INC | $6.0M | 0.21% | 158,713 | Common | SOLE |
| 25065K104 | DXLG | DESTINATION XL GROUP INC | $5.9M | 0.20% | 4,505,000 | Common | SOLE |
| 67577R102 | IRD | OPUS GENETICS INC | $5.5M | 0.19% | 3,345,923 | Common | SOLE |
| 00972D105 | AKBA | AKEBIA THERAPEUTICS INC | $5.5M | 0.19% | 2,000,000 | Common | SOLE |
| 36269P104 | GAIA | GAIA INC NEW | $5.4M | 0.19% | 914,618 | Common | SOLE |
| 82686Q101 | SLN | SILENCE THERAPEUTICS PLC | $5.4M | 0.19% | 1,042,427 | Common | SOLE |
| 629337106 | NNBR | NN INC | $5.0M | 0.17% | 2,441,416 | Common | SOLE |
| 22053A107 | QNCX | QUINCE THERAPEUTICS INC | $5.0M | 0.17% | 3,073,729 | Common | SOLE |
| 810648105 | SCPH | SCPHARMACEUTICALS INC | $4.9M | 0.17% | 861,277 | Common | SOLE |
| 50015M109 | KOD | KODIAK SCIENCES INC | $4.8M | 0.17% | 290,884 | Common | SOLE |
| 405217100 | HAIN | HAIN CELESTIAL GROUP INC | $4.7M | 0.16% | 3,000,000 | Common | SOLE |
| 156944100 | CGON | CG ONCOLOGY INC | $4.4M | 0.15% | 109,449 | Common | SOLE |
| 86366E106 | GPCR | STRUCTURE THERAPEUTICS INC | $4.2M | 0.15% | 150,000 | CALL | SOLE |
| 05601U105 | BRCC | BRC INC | $4.1M | 0.14% | 2,630,517 | Common | SOLE |
| 90466Y202 | UNCY | UNICYCIVE THERAPEUTICS INC | $4.1M | 0.14% | 939,202 | Common | SOLE |
| 00847X104 | AGIO | AGIOS PHARMACEUTICALS INC | $4.0M | 0.14% | 100,000 | Common | SOLE |
| 492327101 | KROS | KEROS THERAPEUTICS INC | $4.0M | 0.14% | 250,000 | CALL | SOLE |
| 75508B104 | RYAM | RAYONIER ADVANCED MATLS INC | $3.7M | 0.13% | 510,510 | Common | SOLE |
| 45719W205 | IKT | INHIBIKASE THERAPEUTICS INC | $3.5M | 0.12% | 2,190,000 | Common | SOLE |
| 00439U104 | GRCE | GRACE THERAPEUTICS INC | $3.5M | 0.12% | 1,178,203 | Common | SOLE |
| 03843E104 | AQST | AQUESTIVE THERAPEUTICS INC | $3.4M | 0.12% | 600,000 | Common | SOLE |
| 00444T209 | TLPH | TALPHERA INC | $3.1M | 0.11% | 3,492,519 | Common | SOLE |
| 641288105 | NPCE | NEUROPACE INC | $3.0M | 0.11% | 295,089 | Common | SOLE |
| 86889P208 | SRZN | SURROZEN INC | $3.0M | 0.10% | 229,527 | Common | SOLE |
| 28617K101 | ELDN | ELEDON PHARMACEUTICALS INC | $3.0M | 0.10% | 1,141,237 | Common | SOLE |
| 70451X104 | PAYO | PAYONEER GLOBAL INC | $2.9M | 0.10% | 483,836 | Common | SOLE |
| 65540B105 | NDLSUSD | NOODLES & CO | $2.9M | 0.10% | 4,505,489 | Common | SOLE |
| 500688106 | KOS | KOSMOS ENERGY LTD | $2.8M | 0.10% | 1,716,593 | Common | SOLE |
| 05479K106 | ELUT | ELUTIA INC | $2.8M | 0.10% | 3,184,947 | Common | SOLE |
| 755408101 | RDI | READING INTL INC | $2.8M | 0.10% | 1,921,088 | Common | SOLE |
| 00289Y206 | ABEO | ABEONA THERAPEUTICS INC | $2.7M | 0.10% | 520,000 | CALL | SOLE |
| 12769G100 | CZR | CAESARS ENTERTAINMENT INC NE | $2.7M | 0.09% | 98,879 | Common | SOLE |
| 578784100 | MAZE | MAZE THERAPEUTICS INC | $2.4M | 0.08% | 93,351 | Common | SOLE |
| G7T96K107 | SRL | SCULLY ROYALTY LTD | $2.2M | 0.08% | 368,182 | Common | SOLE |
| 004468500 | ACHV | ACHIEVE LIFE SCIENCES INC | $2.0M | 0.07% | 648,885 | Common | SOLE |
| 054754858 | AYTU | AYTU BIOPHARMA INC | $2.0M | 0.07% | 1,086,812 | Common | SOLE |
| L0175J112 | ASPSW | ALTISOURCE PORTFOLIO SOLUTIO | $1.7M | 0.06% | 2,477,312 | Common | SOLE |
| 21077P108 | CNTX | CONTEXT THERAPEUTICS INC | $1.6M | 0.06% | 1,661,950 | Common | SOLE |
| 27966L306 | EDSA | EDESA BIOTECH INC | $1.5M | 0.05% | 625,000 | Common | SOLE |
| L0175J120 | ASPSZ | ALTISOURCE PORTFOLIO SOLUTIO | $1.4M | 0.05% | 2,477,312 | Common | SOLE |
| 09090D301 | PHGE | BIOMX INC | $1.3M | 0.05% | 2,493,309 | Common | SOLE |
| 81726A209 | — | SENTI BIOSCIENCES INC | $1.3M | 0.04% | 888,000 | Common | SOLE |
| 872381108 | TELA | TELA BIO INC | $1.1M | 0.04% | 750,000 | CALL | SOLE |
| G7006A109 | PERF | PERFECT CORP | $1.1M | 0.04% | 583,925 | Common | SOLE |
| 68752L100 | KIDS | ORTHOPEDIATRICS CORP | $916,290 | 0.03% | 49,449 | Common | SOLE |
| 004816104 | ACU | ACME UTD CORP | $841,184 | 0.03% | 20,427 | Common | SOLE |
| 86272A305 | SSKN | STRATA SKIN SCIENCES INC | $832,069 | 0.03% | 403,917 | Common | SOLE |
| 30049G302 | EVOK | EVOKE PHARMA INC | $736,320 | 0.03% | 148,153 | Common | SOLE |
| 784933103 | SGRP | SPAR GROUP INC | $680,509 | 0.02% | 660,688 | Common | SOLE |
| 59100U108 | CASH | PATHWARD FINANCIAL INC | $617,317 | 0.02% | 8,341 | Common | SOLE |
| 49721T507 | KPRX | KIORA PHARMACEUTICALS INC | $434,867 | 0.02% | 156,427 | Common | SOLE |
| 03836J201 | APRE | APREA THERAPEUTICS INC | $303,496 | 0.01% | 205,760 | Common | SOLE |
| 035255108 | ANIK | ANIKA THERAPEUTICS INC | $197,033 | 0.01% | 20,961 | Common | SOLE |
| 54948X109 | LUCD | LUCID DIAGNOSTICS INC | $95,486 | 0.00% | 94,541 | Common | SOLE |
| G4236L120 | GFAIW | GUARDFORCE AI CO LTD | $29,284 | 0.00% | 154,205 | Common | SOLE |
| G7006A117 | PERFF | PERFECT CORP | $348 | 0.00% | 16,075 | 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.