{
  "crd_number": 158081,
  "slug": "nantahala-capital-management-llc-new-canaan-ct-158081",
  "primary_business_name": "NANTAHALA CAPITAL MANAGEMENT, LLC",
  "legal_name": "NANTAHALA CAPITAL MANAGEMENT, LLC",
  "dbas": [],
  "city": "New Canaan",
  "state": "CT",
  "country": "United States",
  "cbsa_code": "14860",
  "metro": {
    "cbsa_code": "14860",
    "common_name": "Bridgeport",
    "msa_name": "Bridgeport-Stamford-Danbury, CT",
    "path": "/advisors/ct/bridgeport"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2011-06-24",
  "years_registered": 15,
  "period": "2026-10-01",
  "filing_date": "2026-09-14",
  "carried_forward": false,
  "raum_total": 3114082769.0,
  "raum_discretionary": 3114082769.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "1b_5b",
  "raum_band_label": "$1 billion to $5 billion",
  "total_employees": 14,
  "advisory_employees": 6,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "charitable": {
      "raum": 82299.0,
      "count": 1,
      "fewer_than_5": true
    },
    "pooled_investment_vehicles": {
      "raum": 3114000470.0,
      "count": 10
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "CT"
  ],
  "websites": [
    "https://nantahalapartners.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/158081",
  "city_as_filed": "NEW CANAAN",
  "url": "https://advisorcensus.com/firm/nantahala-capital-management-llc-new-canaan-ct-158081",
  "display_name": "Nantahala Capital Management, LLC",
  "summary": "Nantahala Capital Management, LLC is an SEC-registered investment advisory firm in New Canaan, CT, registered since 2011, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated September 14, 2026.",
  "citation": "AdvisorCensus. Nantahala Capital Management, LLC (CRD 158081): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for pooled investment vehicles (other than investment companies)"
  ],
  "quick_answers": [
    {
      "q": "How is Nantahala Capital Management, LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Nantahala Capital Management, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees."
    },
    {
      "q": "How much does Nantahala Capital Management, LLC charge?",
      "a": "Its Form ADV Part 2A brochure dated March 30, 2026 states: Asset-based fee: 1% to 2% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement."
    },
    {
      "q": "Where is Nantahala Capital Management, LLC located?",
      "a": "Nantahala Capital Management, LLC's principal office is in New Canaan, CT, according to its Form ADV."
    },
    {
      "q": "Is Nantahala Capital Management, LLC registered with the SEC or a state?",
      "a": "Nantahala Capital Management, LLC is an SEC-registered investment advisory firm, registered since 2011. Status as filed: Approved. CRD 158081."
    },
    {
      "q": "How much does Nantahala Capital Management, LLC manage?",
      "a": "Nantahala Capital Management, LLC reports $3,114,082,769 in regulatory assets under management in its Form ADV filing dated September 14, 2026 (100% discretionary)."
    },
    {
      "q": "How have Nantahala Capital Management, LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Nantahala Capital Management, LLC: Regulatory assets under management: $4,181,605,982 in the October 2021 data and $3,114,082,769 in the October 2026 data, down 26%. Total employees: 19 in October 2021 and 14 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Nantahala Capital Management, LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (10); charitable organizations (1)."
    },
    {
      "q": "Which custodians does Nantahala Capital Management, LLC use?",
      "a": "Nantahala Capital Management, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Northern Trust Securities, Inc. as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Nantahala Capital Management, LLC report any disciplinary disclosures?",
      "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/158081"
    },
    {
      "q": "Does Nantahala Capital Management, LLC state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated March 30, 2026 says: \"The minimum initial investment in the Funds is $1,000,000, subject to waiver at the discretion of Nantahala.\""
    },
    {
      "q": "What changed in Nantahala Capital Management, LLC's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Regulatory assets under management went from $2,345,132,702 to $3,114,082,769 (+33%)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 4181605982.0,
      "total_employees": 19,
      "filing_date": "2021-08-03"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 3539081537.0,
      "total_employees": 17,
      "filing_date": "2022-07-01"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 2470541928.0,
      "total_employees": 16,
      "filing_date": "2023-06-14"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 2283111910.0,
      "total_employees": 14,
      "filing_date": "2024-05-29"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 2345132702.0,
      "total_employees": 15,
      "filing_date": "2025-03-31"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 3114082769.0,
      "total_employees": 14,
      "filing_date": "2026-09-14"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Regulatory assets under management went from $2,345,132,702 to $3,114,082,769 (+33%)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 30, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": "1% to 2% a year",
    "stated_maximum": null,
    "account_minimum": "$1,000,000",
    "account_minimum_may_be_waived": true,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Asset-based fee",
        "statements": [
          "Asset-based fee: 1% to 2% a year (a range, as the brochure states it)"
        ],
        "quotes": [
          "The management fee typically ranges between 1.0% and 2.0% annually."
        ]
      },
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $1,000,000 (the brochure says it may be waived or negotiated)"
        ],
        "quotes": [
          "The minimum initial investment in the Funds is $1,000,000, subject to waiver at the discretion of Nantahala."
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": [
        1.0,
        2.0
      ],
      "max_pct": null,
      "account_minimum": 1000000.0,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "The management fee typically ranges between 1.0% and 2.0% annually.",
      "The minimum initial investment in the Funds is $1,000,000, subject to waiver at the discretion of Nantahala."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "Northern Trust Securities, Inc.",
      "name_as_filed": "NORTHERN TRUST SECURITIES, INC.",
      "affiliated": false
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/nantahala-capital-management-llc-new-canaan-ct-158081.md",
  "clients": [
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 10,
      "fewer_than_5": false,
      "raum": 3114000470.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 1,
      "fewer_than_5": true,
      "raum": 82299.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/158081",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}