13F HOLDINGS REPORT
Nantahala Capital Management, LLC
Quarter ended Q3 2025 · Filed November 14, 2025 · Accession 0001104659-25-112624
Total Value
$2.88B
Positions
153
Other Managers
0
Confidential Omitted
No
Holdings (153)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | ISHARES TR | 464287655 | 2,650,000 | $641.2M | 22.27% |
| 2 | EDWARDS LIFESCIENCES CORP | EW | 1,800,000 | $140.0M | 4.86% |
| 3 | ESTABLISHMENT LABS HLDGS INC | ESTA | 1,973,492 | $80.9M | 2.81% |
| 4 | SPDR SERIES TRUST | 78464A870 | 700,000 | $70.1M | 2.44% |
| 5 | HILTON GRAND VACATIONS INC | HGV | 1,667,753 | $69.7M | 2.42% |
| 6 | BANCORP INC DEL | TBBK | 852,334 | $63.8M | 2.22% |
| 7 | UNIQURE NV | QURE | 1,007,492 | $58.8M | 2.04% |
| 8 | SOLENO THERAPEUTICS INC | SLNO | 863,763 | $58.4M | 2.03% |
| 9 | HERBALIFE LTD | HLF | 6,800,000 | $57.4M | 1.99% |
| 10 | TEVA PHARMACEUTICAL INDS LTD | 881624209 | 2,500,000 | $50.5M | 1.75% |
| 11 | VIATRIS INC | VTRS | 5,000,000 | $49.5M | 1.72% |
| 12 | ABIVAX SA | AAVXF | 557,564 | $47.3M | 1.64% |
| 13 | XTANT MED HLDGS INC | 98420P308 | 68,394,000 | $44.4M | 1.54% |
| 14 | FULCRUM THERAPEUTICS INC | FULC | 4,670,784 | $43.0M | 1.49% |
| 15 | AMNEAL PHARMACEUTICALS INC | AMRX | 4,224,564 | $42.3M | 1.47% |
| 16 | PELOTON INTERACTIVE INC | PTON | 4,500,000 | $40.5M | 1.41% |
| 17 | BIOVENTUS INC | BVS | 5,810,662 | $38.9M | 1.35% |
| 18 | KRYSTAL BIOTECH INC | KRYS | 200,000 | $35.3M | 1.23% |
| 19 | EVOLUS INC | EOLS | 5,726,857 | $35.2M | 1.22% |
| 20 | PELOTON INTERACTIVE INC | PTON | 3,697,700 | $33.3M | 1.16% |
| 21 | IMAX CORP | IMAX | 996,150 | $32.6M | 1.13% |
| 22 | CAMPING WORLD HLDGS INC | CWH | 2,000,000 | $31.6M | 1.10% |
| 23 | SAVARA INC | SVRA | 8,775,375 | $31.3M | 1.09% |
| 24 | ETON PHARMACEUTICALS INC | ETON | 1,175,951 | $25.6M | 0.89% |
| 25 | ABEONA THERAPEUTICS INC | ABEO | 4,564,665 | $24.1M | 0.84% |
| 26 | HILTON GRAND VACATIONS INC | HGV | 575,000 | $24.0M | 0.83% |
| 27 | NEKTAR THERAPEUTICS | NKTR | 418,522 | $23.8M | 0.83% |
| 28 | REGENERON PHARMACEUTICALS | REGN | 40,000 | $22.5M | 0.78% |
| 29 | COGENT BIOSCIENCES INC | COGT | 1,506,989 | $21.6M | 0.75% |
| 30 | LIVE NATION ENTERTAINMENT IN | LYV | 130,300 | $21.3M | 0.74% |
| 31 | KEROS THERAPEUTICS INC | KROS | 1,233,189 | $19.5M | 0.68% |
| 32 | FRACTYL HEALTH INC | GUTS | 12,136,917 | $19.3M | 0.67% |
| 33 | SERVICE PPTYS TR | 81761L102 | 7,057,887 | $19.1M | 0.66% |
| 34 | DISC MEDICINE INC | IRON | 287,800 | $19.0M | 0.66% |
| 35 | AMERICAS CAR-MART INC | 03062T105 | 644,686 | $18.8M | 0.65% |
| 36 | ZEVRA THERAPEUTICS INC | ZVRA | 1,971,936 | $18.8M | 0.65% |
| 37 | TITAN MACHY INC | KMCM | 1,096,232 | $18.4M | 0.64% |
| 38 | RMR GROUP INC | RMR | 1,147,902 | $18.1M | 0.63% |
| 39 | FOX FACTORY HLDG CORP | FOXF | 728,648 | $17.7M | 0.61% |
| 40 | EVENTBRITE INC | EVEX-WT | 6,831,395 | $17.2M | 0.60% |
| 41 | GLOBUS MED INC | GMED | 300,000 | $17.2M | 0.60% |
| 42 | RAPT THERAPEUTICS INC | 75382E208 | 623,282 | $16.1M | 0.56% |
| 43 | AVALO THERAPEUTICS INC | AVTX | 1,235,000 | $15.7M | 0.55% |
| 44 | PALVELLA THERAPEUTICS INC NE | PVLA | 250,062 | $15.7M | 0.54% |
| 45 | 1 800 FLOWERS COM INC | FLWS | 3,368,065 | $15.5M | 0.54% |
| 46 | TANGO THERAPEUTICS INC | TNGX | 1,809,948 | $15.2M | 0.53% |
| 47 | DIANTHUS THERAPEUTICS INC | DNTH | 375,000 | $14.8M | 0.51% |
| 48 | RIDENOW GROUP INC | RUMBW | 3,272,845 | $14.4M | 0.50% |
| 49 | ROBINHOOD MKTS INC | 770700102 | 100,000 | $14.3M | 0.50% |
| 50 | CAESARS ENTERTAINMENT INC NE | 12769G100 | 500,000 | $13.5M | 0.47% |
| 51 | AURA BIOSCIENCES INC | AURA | 2,117,697 | $13.1M | 0.45% |
| 52 | XENCOR INC | XNCR | 1,100,000 | $12.9M | 0.45% |
| 53 | AMYLYX PHARMACEUTICALS INC | AMLX | 935,684 | $12.7M | 0.44% |
| 54 | ALIGN TECHNOLOGY INC | ALGN | 100,000 | $12.5M | 0.43% |
| 55 | GERON CORP | GERN | 9,025,000 | $12.4M | 0.43% |
| 56 | JACK IN THE BOX INC | JACK | 600,000 | $11.9M | 0.41% |
| 57 | BENITEC BIOPHARMA INC | BNTC | 838,095 | $11.8M | 0.41% |
| 58 | VERASTEM INC | VSTM | 1,292,903 | $11.4M | 0.40% |
| 59 | UPSTREAM BIO INC | UPB | 594,971 | $11.2M | 0.39% |
| 60 | LB PHARMACEUTICALS INC | LBRX | 675,000 | $10.7M | 0.37% |
| 61 | SOLID BIOSCIENCES INC | SLDB | 1,699,258 | $10.5M | 0.36% |
| 62 | JEFFERSON CAPITAL INC | JCAP | 600,000 | $10.4M | 0.36% |
| 63 | STRUCTURE THERAPEUTICS INC | GPCR | 368,553 | $10.3M | 0.36% |
| 64 | MIMEDX GROUP INC | MDXG | 1,466,566 | $10.2M | 0.36% |
| 65 | RH | RH | 50,000 | $10.2M | 0.35% |
| 66 | COMPASS PATHWAYS PLC | CMPS | 1,729,930 | $9.9M | 0.34% |
| 67 | CODEXIS INC | CDXS | 4,030,619 | $9.8M | 0.34% |
| 68 | CENTESSA PHARMACEUTICALS PLC | CNTA | 404,803 | $9.8M | 0.34% |
| 69 | DARIOHEALTH CORP | DRIO | 563,233 | $9.8M | 0.34% |
| 70 | INDUSTRIAL LOGISTICS PPTYS T | 456237106 | 1,675,273 | $9.8M | 0.34% |
| 71 | FOSSIL GROUP INC | FOSL | 3,741,157 | $9.6M | 0.33% |
| 72 | TRISALUS LIFE SCIENCES INC | TLSIW | 2,040,245 | $9.5M | 0.33% |
| 73 | ADC THERAPEUTICS SA | ADCT | 2,266,289 | $9.1M | 0.31% |
| 74 | DYNE THERAPEUTICS INC | DYN | 702,884 | $8.9M | 0.31% |
| 75 | ANTERIS TECHNOLOGIES GLOBAL | AVR | 1,918,666 | $8.6M | 0.30% |
| 76 | RED VIOLET INC | RDVT | 164,339 | $8.6M | 0.30% |
| 77 | CYTOKINETICS INC | CYTK | 150,000 | $8.2M | 0.29% |
| 78 | INSPIREMD INC | NSPR | 3,376,484 | $8.1M | 0.28% |
| 79 | HERBALIFE LTD | HLF | 942,431 | $8.0M | 0.28% |
| 80 | ASTRIA THERAPEUTICS INC | 04635X102 | 1,069,530 | $7.8M | 0.27% |
| 81 | ASSERTIO HOLDINGS INC | ASRT | 8,810,073 | $7.8M | 0.27% |
| 82 | RESERVOIR MEDIA INC | RSVRW | 950,960 | $7.7M | 0.27% |
| 83 | X4 PHARMACEUTICALS INC | XFOR | 2,228,350 | $7.6M | 0.26% |
| 84 | TELA BIO INC | TELA | 5,111,588 | $7.6M | 0.26% |
| 85 | EHEALTH INC | EHTH | 1,761,441 | $7.6M | 0.26% |
| 86 | ANEBULO PHARMACEUTICALS INC | ANEB | 3,036,325 | $7.6M | 0.26% |
| 87 | RIDENOW GROUP INC | RUMBW | 1,700,000 | $7.5M | 0.26% |
| 88 | DELCATH SYS INC | DCTH | 666,435 | $7.2M | 0.25% |
| 89 | APYX MEDICAL CORPORATION | APYX | 3,338,048 | $7.1M | 0.25% |
| 90 | VISTAGEN THERAPEUTICS INC | VTGN | 1,978,492 | $7.0M | 0.24% |
| 91 | DISTRIBUTION SOLUTIONS GRP I | 520776105 | 230,339 | $6.9M | 0.24% |
| 92 | ALTA EQUIPMENT GROUP INC | ALTG-PA | 934,774 | $6.8M | 0.24% |
| 93 | SOLENO THERAPEUTICS INC | SLNO | 100,000 | $6.8M | 0.23% |
| 94 | DHI GROUP INC | DHX | 2,374,027 | $6.6M | 0.23% |
| 95 | COLUMBUS MCKINNON CORP N Y | CMCO | 450,000 | $6.5M | 0.22% |
| 96 | VIEMED HEALTHCARE INC | VMD | 932,445 | $6.3M | 0.22% |
| 97 | THE ONE GROUP HOSPITALITY IN | 88338K103 | 2,121,084 | $6.3M | 0.22% |
| 98 | MINERALYS THERAPEUTICS INC | MLYS | 158,713 | $6.0M | 0.21% |
| 99 | DESTINATION XL GROUP INC | DXLG | 4,505,000 | $5.9M | 0.20% |
| 100 | OPUS GENETICS INC | IRD | 3,345,923 | $5.5M | 0.19% |
| 101 | AKEBIA THERAPEUTICS INC | AKBA | 2,000,000 | $5.5M | 0.19% |
| 102 | GAIA INC NEW | GAIA | 914,618 | $5.4M | 0.19% |
| 103 | SILENCE THERAPEUTICS PLC | SLNCF | 1,042,427 | $5.4M | 0.19% |
| 104 | NN INC | NNBR | 2,441,416 | $5.0M | 0.17% |
| 105 | QUINCE THERAPEUTICS INC | QNCX | 3,073,729 | $5.0M | 0.17% |
| 106 | SCPHARMACEUTICALS INC | 810648105 | 861,277 | $4.9M | 0.17% |
| 107 | KODIAK SCIENCES INC | KOD | 290,884 | $4.8M | 0.17% |
| 108 | HAIN CELESTIAL GROUP INC | HAIN | 3,000,000 | $4.7M | 0.16% |
| 109 | CG ONCOLOGY INC | CGON | 109,449 | $4.4M | 0.15% |
| 110 | STRUCTURE THERAPEUTICS INC | GPCR | 150,000 | $4.2M | 0.15% |
| 111 | BRC INC | BRCC | 2,630,517 | $4.1M | 0.14% |
| 112 | UNICYCIVE THERAPEUTICS INC | UNCY | 939,202 | $4.1M | 0.14% |
| 113 | AGIOS PHARMACEUTICALS INC | AGIO | 100,000 | $4.0M | 0.14% |
| 114 | KEROS THERAPEUTICS INC | KROS | 250,000 | $4.0M | 0.14% |
| 115 | RAYONIER ADVANCED MATLS INC | RYN | 510,510 | $3.7M | 0.13% |
| 116 | INHIBIKASE THERAPEUTICS INC | IKT | 2,190,000 | $3.5M | 0.12% |
| 117 | GRACE THERAPEUTICS INC | GRCE | 1,178,203 | $3.5M | 0.12% |
| 118 | AQUESTIVE THERAPEUTICS INC | AQST | 600,000 | $3.4M | 0.12% |
| 119 | TALPHERA INC | TLPH | 3,492,519 | $3.1M | 0.11% |
| 120 | NEUROPACE INC | NPCE | 295,089 | $3.0M | 0.11% |
| 121 | SURROZEN INC | SRZNW | 229,527 | $3.0M | 0.10% |
| 122 | ELEDON PHARMACEUTICALS INC | ELDN | 1,141,237 | $3.0M | 0.10% |
| 123 | PAYONEER GLOBAL INC | PAYO | 483,836 | $2.9M | 0.10% |
| 124 | NOODLES & CO | NDLS | 4,505,489 | $2.9M | 0.10% |
| 125 | KOSMOS ENERGY LTD | KOS | 1,716,593 | $2.8M | 0.10% |
| 126 | ELUTIA INC | ELUT | 3,184,947 | $2.8M | 0.10% |
| 127 | READING INTL INC | 755408101 | 1,921,088 | $2.8M | 0.10% |
| 128 | ABEONA THERAPEUTICS INC | ABEO | 520,000 | $2.7M | 0.10% |
| 129 | CAESARS ENTERTAINMENT INC NE | 12769G100 | 98,879 | $2.7M | 0.09% |
| 130 | MAZE THERAPEUTICS INC | MAZE | 93,351 | $2.4M | 0.08% |
| 131 | SCULLY ROYALTY LTD | SRL | 368,182 | $2.2M | 0.08% |
| 132 | ACHIEVE LIFE SCIENCES INC | ACHV | 648,885 | $2.0M | 0.07% |
| 133 | AYTU BIOPHARMA INC | AYTU | 1,086,812 | $2.0M | 0.07% |
| 134 | ALTISOURCE PORTFOLIO SOLUTIO | ASPSW | 2,477,312 | $1.7M | 0.06% |
| 135 | CONTEXT THERAPEUTICS INC | CNTX | 1,661,950 | $1.6M | 0.06% |
| 136 | EDESA BIOTECH INC | EDSA | 625,000 | $1.5M | 0.05% |
| 137 | ALTISOURCE PORTFOLIO SOLUTIO | ASPSW | 2,477,312 | $1.4M | 0.05% |
| 138 | BIOMX INC | PHGE | 2,493,309 | $1.3M | 0.05% |
| 139 | SENTI BIOSCIENCES INC | SNTI | 888,000 | $1.3M | 0.04% |
| 140 | TELA BIO INC | TELA | 750,000 | $1.1M | 0.04% |
| 141 | PERFECT CORP | PERF-WT | 583,925 | $1.1M | 0.04% |
| 142 | ORTHOPEDIATRICS CORP | KIDS | 49,449 | $916,290 | 0.03% |
| 143 | ACME UTD CORP | 004816104 | 20,427 | $841,184 | 0.03% |
| 144 | STRATA SKIN SCIENCES INC | SSKN | 403,917 | $832,069 | 0.03% |
| 145 | EVOKE PHARMA INC | 30049G302 | 148,153 | $736,320 | 0.03% |
| 146 | SPAR GROUP INC | SGRP | 660,688 | $680,509 | 0.02% |
| 147 | PATHWARD FINANCIAL INC | CASH | 8,341 | $617,317 | 0.02% |
| 148 | KIORA PHARMACEUTICALS INC | KPHMW | 156,427 | $434,867 | 0.02% |
| 149 | APREA THERAPEUTICS INC | APRE | 205,760 | $303,496 | 0.01% |
| 150 | ANIKA THERAPEUTICS INC | ANIK | 20,961 | $197,033 | 0.01% |
| 151 | LUCID DIAGNOSTICS INC | LUCD | 94,541 | $95,486 | 0.00% |
| 152 | GUARDFORCE AI CO LTD | GFAIW | 154,205 | $29,284 | 0.00% |
| 153 | PERFECT CORP | PERF-WT | 16,075 | $348 | 0.00% |