13F HOLDINGS REPORT
Nantahala Capital Management, LLC
Quarter ended Q4 2025 · Filed February 13, 2026 · Accession 0001104659-26-015271
Total Value
$3.02B
Positions
153
Other Managers
0
Confidential Omitted
No
Holdings (153)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | ISHARES TR | 464287655 | 2,700,000 | $664.6M | 21.97% |
| 2 | EDWARDS LIFESCIENCES CORP | EW | 1,800,000 | $153.4M | 5.07% |
| 3 | HERBALIFE LTD | HLF | 7,800,000 | $100.5M | 3.32% |
| 4 | TEVA PHARMACEUTICAL INDS LTD | 881624209 | 2,500,000 | $78.0M | 2.58% |
| 5 | BANCORP INC DEL | TBBK | 1,071,685 | $72.4M | 2.39% |
| 6 | ESTABLISHMENT LABS HLDGS INC | ESTA | 987,689 | $72.0M | 2.38% |
| 7 | HILTON GRAND VACATIONS INC | HGV | 1,561,622 | $69.9M | 2.31% |
| 8 | VIATRIS INC | VTRS | 5,000,000 | $62.3M | 2.06% |
| 9 | SOLENO THERAPEUTICS INC | SLNO | 1,314,002 | $60.8M | 2.01% |
| 10 | XTANT MED HLDGS INC | 98420P308 | 68,394,000 | $53.6M | 1.77% |
| 11 | SPDR SERIES TRUST | 78464A870 | 400,000 | $48.8M | 1.61% |
| 12 | FULCRUM THERAPEUTICS INC | FULC | 4,293,346 | $48.6M | 1.61% |
| 13 | HILTON GRAND VACATIONS INC | HGV | 1,075,000 | $48.1M | 1.59% |
| 14 | BIOVENTUS INC | BVS | 6,047,403 | $45.0M | 1.49% |
| 15 | SAVARA INC | SVRA | 7,344,783 | $44.3M | 1.46% |
| 16 | PELOTON INTERACTIVE INC | PTON | 6,500,000 | $40.0M | 1.32% |
| 17 | EVOLUS INC | EOLS | 5,820,649 | $38.7M | 1.28% |
| 18 | FOX FACTORY HLDG CORP | FOXF | 2,188,300 | $37.4M | 1.24% |
| 19 | PELOTON INTERACTIVE INC | PTON | 5,932,676 | $36.5M | 1.21% |
| 20 | GOGO INC | GOGO | 6,792,649 | $31.7M | 1.05% |
| 21 | TANGO THERAPEUTICS INC | TNGX | 3,572,633 | $31.7M | 1.05% |
| 22 | REGENERON PHARMACEUTICALS | REGN | 40,000 | $30.9M | 1.02% |
| 23 | AMNEAL PHARMACEUTICALS INC | AMRX | 2,447,516 | $30.8M | 1.02% |
| 24 | EVENTBRITE INC | EVEX-WT | 6,854,718 | $30.5M | 1.01% |
| 25 | ISHARES TR | 464287655 | 117,159 | $28.8M | 0.95% |
| 26 | ABEONA THERAPEUTICS INC | ABEO | 4,963,052 | $26.2M | 0.86% |
| 27 | RAPT THERAPEUTICS INC | 75382E208 | 754,153 | $25.5M | 0.84% |
| 28 | FRACTYL HEALTH INC | GUTS | 10,846,440 | $23.9M | 0.79% |
| 29 | SOLENO THERAPEUTICS INC | SLNO | 502,000 | $23.2M | 0.77% |
| 30 | AVALO THERAPEUTICS INC | AVTX | 1,235,000 | $22.4M | 0.74% |
| 31 | ABIVAX SA | AAVXF | 153,235 | $20.7M | 0.68% |
| 32 | ETON PHARMACEUTICALS INC | ETON | 1,175,951 | $19.9M | 0.66% |
| 33 | GLOBUS MED INC | GMED | 224,962 | $19.6M | 0.65% |
| 34 | CAMPING WORLD HLDGS INC | CWH | 2,000,000 | $19.5M | 0.64% |
| 35 | ADC THERAPEUTICS SA | ADCT | 5,475,433 | $19.3M | 0.64% |
| 36 | FOSSIL GROUP INC | FOSL | 5,064,359 | $19.0M | 0.63% |
| 37 | LIVE NATION ENTERTAINMENT IN | LYV | 130,300 | $18.6M | 0.61% |
| 38 | TITAN MACHY INC | KMCM | 1,220,520 | $18.4M | 0.61% |
| 39 | RIDENOW GROUP INC | RUMBW | 3,272,845 | $18.1M | 0.60% |
| 40 | IMAX CORP | IMAX | 477,092 | $17.6M | 0.58% |
| 41 | RMR GROUP INC | RMR | 1,147,902 | $17.1M | 0.57% |
| 42 | UNIQURE NV | QURE | 699,298 | $16.7M | 0.55% |
| 43 | JACK IN THE BOX INC | JACK | 865,990 | $16.4M | 0.54% |
| 44 | MIMEDX GROUP INC | MDXG | 2,416,389 | $16.4M | 0.54% |
| 45 | AMERICAS CAR-MART INC | 03062T105 | 644,686 | $16.3M | 0.54% |
| 46 | ZEVRA THERAPEUTICS INC | ZVRA | 1,771,936 | $15.9M | 0.52% |
| 47 | ALIGN TECHNOLOGY INC | ALGN | 100,000 | $15.6M | 0.52% |
| 48 | DIANTHUS THERAPEUTICS INC | DNTH | 375,000 | $15.5M | 0.51% |
| 49 | CHIME FINL INC | 16935C109 | 600,000 | $15.1M | 0.50% |
| 50 | LB PHARMACEUTICALS INC | LBRX | 675,000 | $15.0M | 0.50% |
| 51 | TRISALUS LIFE SCIENCES INC | TLSIW | 2,070,827 | $14.5M | 0.48% |
| 52 | ASTRIA THERAPEUTICS INC | 04635X102 | 1,069,530 | $14.0M | 0.46% |
| 53 | BENITEC BIOPHARMA INC | BNTC | 1,038,371 | $14.0M | 0.46% |
| 54 | APYX MEDICAL CORPORATION | APYX | 3,974,091 | $13.9M | 0.46% |
| 55 | UPSTREAM BIO INC | UPB | 494,971 | $13.4M | 0.44% |
| 56 | JEFFERSON CAPITAL INC | JCAP | 600,000 | $13.4M | 0.44% |
| 57 | 1 800 FLOWERS COM INC | FLWS | 3,375,065 | $13.3M | 0.44% |
| 58 | SERVICE PPTYS TR | 81761L102 | 7,057,887 | $13.0M | 0.43% |
| 59 | ANTERIS TECHNOLOGIES GLOBAL | AVR | 2,530,910 | $12.6M | 0.42% |
| 60 | GERON CORP | GERN | 9,025,000 | $11.9M | 0.39% |
| 61 | AURA BIOSCIENCES INC | AURA | 2,117,697 | $11.5M | 0.38% |
| 62 | USANA HEALTH SCIENCES INC | USNA | 585,074 | $11.5M | 0.38% |
| 63 | HERBALIFE LTD | HLF | 881,857 | $11.4M | 0.38% |
| 64 | RAYONIER ADVANCED MATLS INC | RYN | 1,800,000 | $10.6M | 0.35% |
| 65 | BIOCRYST PHARMACEUTICALS INC | BCRX | 1,356,377 | $10.6M | 0.35% |
| 66 | DISC MEDICINE INC | IRON | 132,800 | $10.5M | 0.35% |
| 67 | CAMPING WORLD HLDGS INC | CWH | 1,058,542 | $10.3M | 0.34% |
| 68 | AMYLYX PHARMACEUTICALS INC | AMLX | 835,684 | $10.1M | 0.33% |
| 69 | PEPGEN INC | PEPG | 1,547,229 | $10.1M | 0.33% |
| 70 | GOLDEN ENTMT INC | NVGLF | 368,245 | $10.0M | 0.33% |
| 71 | LEXEO THERAPEUTICS INC | LXEO | 1,000,000 | $9.9M | 0.33% |
| 72 | X4 PHARMACEUTICALS INC | XFOR | 2,449,468 | $9.8M | 0.32% |
| 73 | OPUS GENETICS INC | IRD | 4,781,330 | $9.6M | 0.32% |
| 74 | RIDENOW GROUP INC | RUMBW | 1,700,000 | $9.4M | 0.31% |
| 75 | SILENCE THERAPEUTICS PLC | SLNCF | 1,542,427 | $9.4M | 0.31% |
| 76 | PATHWARD FINANCIAL INC | CASH | 131,608 | $9.3M | 0.31% |
| 77 | INDUSTRIAL LOGISTICS PPTYS T | 456237106 | 1,678,973 | $9.3M | 0.31% |
| 78 | SOLID BIOSCIENCES INC | SLDB | 1,603,336 | $9.0M | 0.30% |
| 79 | DISTRIBUTION SOLUTIONS GRP I | 520776105 | 330,000 | $9.0M | 0.30% |
| 80 | RH | RH | 50,000 | $9.0M | 0.30% |
| 81 | QUINCE THERAPEUTICS INC | QNCX | 2,672,429 | $9.0M | 0.30% |
| 82 | COGENT BIOSCIENCES INC | COGT | 250,000 | $8.9M | 0.29% |
| 83 | EHEALTH INC | EHTH | 1,761,441 | $8.1M | 0.27% |
| 84 | INHIBIKASE THERAPEUTICS INC | IKT | 3,929,292 | $8.1M | 0.27% |
| 85 | INTEGER HLDGS CORP | ITGR | 102,000 | $8.0M | 0.26% |
| 86 | COLUMBUS MCKINNON CORP N Y | CMCO | 450,000 | $7.8M | 0.26% |
| 87 | KEROS THERAPEUTICS INC | KROS | 360,419 | $7.3M | 0.24% |
| 88 | RESERVOIR MEDIA INC | RSVRW | 940,960 | $7.1M | 0.24% |
| 89 | HAIN CELESTIAL GROUP INC | HAIN | 6,528,789 | $7.0M | 0.23% |
| 90 | VIEMED HEALTHCARE INC | VMD | 932,445 | $6.9M | 0.23% |
| 91 | RH | RH | 37,791 | $6.8M | 0.22% |
| 92 | CODEXIS INC | CDXS | 3,990,169 | $6.5M | 0.22% |
| 93 | DARIOHEALTH CORP | DRIO | 563,232 | $6.4M | 0.21% |
| 94 | CENTESSA PHARMACEUTICALS PLC | CNTA | 254,803 | $6.4M | 0.21% |
| 95 | TELA BIO INC | TELA | 5,111,588 | $6.0M | 0.20% |
| 96 | INSPIREMD INC | NSPR | 3,376,484 | $6.0M | 0.20% |
| 97 | UNICYCIVE THERAPEUTICS INC | UNCY | 939,202 | $5.4M | 0.18% |
| 98 | ASSERTIO HOLDINGS INC | ASRT | 587,335 | $5.3M | 0.18% |
| 99 | SURROZEN INC | SRZNW | 229,527 | $5.2M | 0.17% |
| 100 | KEROS THERAPEUTICS INC | KROS | 250,000 | $5.1M | 0.17% |
| 101 | KORRO BIO INC | KRRO | 600,000 | $4.8M | 0.16% |
| 102 | NEKTAR THERAPEUTICS | NKTR | 112,946 | $4.8M | 0.16% |
| 103 | NEUROPACE INC | NPCE | 295,089 | $4.6M | 0.15% |
| 104 | CG ONCOLOGY INC | CGON | 109,449 | $4.5M | 0.15% |
| 105 | ALTA EQUIPMENT GROUP INC | ALTG-PA | 934,774 | $4.3M | 0.14% |
| 106 | DESTINATION XL GROUP INC | DXLG | 4,505,000 | $4.1M | 0.14% |
| 107 | MINERALYS THERAPEUTICS INC | MLYS | 113,285 | $4.1M | 0.14% |
| 108 | GRACE THERAPEUTICS INC | GRCE | 1,178,203 | $4.1M | 0.13% |
| 109 | TALPHERA INC | TLPH | 3,492,519 | $4.0M | 0.13% |
| 110 | MARA HOLDINGS INC | MARA | 5,000,000 | $3.9M | 0.13% |
| 111 | THE ONE GROUP HOSPITALITY IN | 88338K103 | 2,121,084 | $3.7M | 0.12% |
| 112 | DHI GROUP INC | DHX | 2,374,027 | $3.7M | 0.12% |
| 113 | VERASTEM INC | VSTM | 462,140 | $3.6M | 0.12% |
| 114 | ARVINAS INC | ARVN | 300,000 | $3.6M | 0.12% |
| 115 | ORTHOPEDIATRICS CORP | KIDS | 199,449 | $3.5M | 0.12% |
| 116 | GAIA INC NEW | GAIA | 914,618 | $3.3M | 0.11% |
| 117 | ACHIEVE LIFE SCIENCES INC | ACHV | 648,885 | $3.2M | 0.11% |
| 118 | AKEBIA THERAPEUTICS INC | AKBA | 2,000,000 | $3.2M | 0.11% |
| 119 | SCULLY ROYALTY LTD | SRL | 368,182 | $3.1M | 0.10% |
| 120 | NN INC | NNBR | 2,441,416 | $3.1M | 0.10% |
| 121 | ANEBULO PHARMACEUTICALS INC | ANEB | 3,036,325 | $3.1M | 0.10% |
| 122 | COMPASS PATHWAYS PLC | CMPS | 443,293 | $3.1M | 0.10% |
| 123 | BRC INC | BRCC | 2,630,517 | $2.9M | 0.10% |
| 124 | NOODLES & CO | NDLS | 4,124,708 | $2.9M | 0.10% |
| 125 | AYTU BIOPHARMA INC | AYTU | 1,086,812 | $2.8M | 0.09% |
| 126 | ABEONA THERAPEUTICS INC | ABEO | 520,000 | $2.7M | 0.09% |
| 127 | PAYONEER GLOBAL INC | PAYO | 483,836 | $2.7M | 0.09% |
| 128 | XENCOR INC | XNCR | 164,639 | $2.5M | 0.08% |
| 129 | IMMUNIC INC | IMUX | 4,378,406 | $2.3M | 0.08% |
| 130 | ELUTIA INC | ELUT | 3,184,947 | $2.2M | 0.07% |
| 131 | KOSMOS ENERGY LTD | KOS | 2,344,194 | $2.1M | 0.07% |
| 132 | READING INTL INC | 755408101 | 1,921,088 | $2.0M | 0.07% |
| 133 | KEZAR LIFE SCIENCES INC | KZR | 276,754 | $1.7M | 0.06% |
| 134 | VAXCYTE INC | PCVX | 35,200 | $1.6M | 0.05% |
| 135 | PERFECT CORP | PERF-WT | 583,925 | $1.1M | 0.03% |
| 136 | ALTISOURCE PORTFOLIO SOLUTIO | ASPSW | 2,477,312 | $1.0M | 0.03% |
| 137 | SENTI BIOSCIENCES INC | SNTI | 888,000 | $923,520 | 0.03% |
| 138 | MONTE ROSA THERAPEUTICS INC | GLUE | 57,991 | $909,299 | 0.03% |
| 139 | EDESA BIOTECH INC | EDSA | 625,000 | $887,500 | 0.03% |
| 140 | TELA BIO INC | TELA | 750,000 | $885,000 | 0.03% |
| 141 | ACME UTD CORP | 004816104 | 20,427 | $823,412 | 0.03% |
| 142 | ALTISOURCE PORTFOLIO SOLUTIO | ASPSW | 2,477,312 | $817,513 | 0.03% |
| 143 | VYNE THERAPEUTICS INC | VYNE | 1,000,000 | $580,100 | 0.02% |
| 144 | SPAR GROUP INC | SGRP | 660,688 | $532,316 | 0.02% |
| 145 | STRATA SKIN SCIENCES INC | SSKN | 403,917 | $508,935 | 0.02% |
| 146 | BIOMX INC | PHGE | 114,795 | $214,666 | 0.01% |
| 147 | KIORA PHARMACEUTICALS INC | KPHMW | 106,156 | $209,127 | 0.01% |
| 148 | NUVATION BIO INC | NUVB | 626,191 | $206,643 | 0.01% |
| 149 | APREA THERAPEUTICS INC | APRE | 205,760 | $175,513 | 0.01% |
| 150 | LUCID DIAGNOSTICS INC | LUCD | 94,541 | $103,050 | 0.00% |
| 151 | CONTEXT THERAPEUTICS INC | CNTX | 37,837 | $55,620 | 0.00% |
| 152 | GUARDFORCE AI CO LTD | GFAIW | 154,205 | $23,131 | 0.00% |
| 153 | PERFECT CORP | PERF-WT | 16,075 | $323 | 0.00% |