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KCM

Kingdon Capital Management Portfolio holdings

AUM $976M Turnover 59%
1-Year Est. Return 66.76%
This Fund
S&P 500
This Quarter Est. Return
+29.1%
1 Year Est. Return
+66.76%
3 Year Est. Return
+217.15%
5 Year Est. Return
+352.97%
10 Year Est. Return
+2,412.55%
AUM
$976M
AUM Growth
+$65.1M
Cap. Flow
+$24.5M
Cap. Flow %
2.51%
Top 10 Hldgs %
37.09%
Holding
100
New
33
Increased
11
Reduced
19
Closed
26
Avg Time Held Equity + Options
0.6 years
Top 10 Avg Time Held Equity + Options
0.5 years
Top 20 Avg Time Held Equity + Options
0.5 years
Avg Time Held Equity only
0.7 years
Top 10 Avg Time Held Equity only
0.6 years
Top 20 Avg Time Held Equity only
0.6 years

Top Buys

Rank Stock Value
1
GRAL icon
GRAIL Inc
GRAL
+$20M
2
FLNC icon
Fluence Energy
FLNC
+$16.7M
3
ISRG icon
Intuitive Surgical
ISRG
+$16.2M
4
HIMS icon
Hims & Hers Health
HIMS
+$14.6M
5
ILMN icon
Illumina
ILMN
+$14.3M

Top Sells

Rank Stock Value
1
SLNO icon
Soleno Therapeutics
SLNO
+$19.3M
2
EWY icon
iShares MSCI South Korea ETF
EWY
+$13.2M
3
ICLN icon
iShares Global Clean Energy ETF
ICLN
+$12.8M
4
ICLR icon
Icon
ICLR
+$11.7M
5
SRAD icon
Sportradar
SRAD
+$11.3M

Sector Composition

Rank Sector Weight
1 Healthcare 25.52%
2 Miscellaneous 25.09%
3 Technology 18.45%
4 Industrials 16.44%
5 Consumer Discretionary 6.87%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
SOXX icon
1
PUT
iShares Semiconductor ETF
SOXX
$40.8B
$83.3M 8.53%
+130,000
New +$66M
2026 Q2
0 quarters
SNDX icon
2
Syndax Pharmaceuticals
SNDX
$1.15B
$54.6M 5.6%
2,500,000
– –
2023 Q4
10 quarters
NVDA icon
3
NVIDIA
NVDA
$5.17T
$48M 4.92%
240,000
+40,000
+20% +$8.22M
2025 Q1
5 quarters
WRBY icon
4
Warby Parker
WRBY
$2.89B
$34.2M 3.5%
1,126,644
+73,000
+7% +$1.81M
2025 Q3
3 quarters
APG icon
5
APi Group
APG
$17.4B
$25.4M 2.6%
600,000
+150,000
+33% +$6.55M
2025 Q1
5 quarters
KEYS icon
6
Keysight
KEYS
$56.4B
$24.5M 2.51%
70,000
-10,000
-13% -$3.41M
2025 Q4
2 quarters
NXE icon
7
NexGen Energy
NXE
$5.61B
$23.5M 2.4%
2,500,000
– –
2023 Q4
10 quarters
EWY icon
8
PUT
iShares MSCI South Korea ETF
EWY
$21.4B
$23.2M 2.38%
115,000
-5,000
-4% -$883K
2025 Q3
3 quarters
GRAL icon
9
GRAIL Inc
GRAL
$5.26B
$23.2M 2.38%
+340,000
New +$20M
2026 Q2
0 quarters
QQQ icon
10
PUT
Invesco QQQ Trust
QQQ
$475B
$22.1M 2.26%
+30,000
New +$20.6M
2026 Q2
0 quarters
TSM icon
11
TSMC
TSM
$2.14T
$21.5M 2.2%
45,000
– –
2024 Q1
9 quarters
ECG icon
12
Everus Construction Group
ECG
$5.6B
$20.7M 2.13%
125,000
– –
2024 Q4
6 quarters
HIMS icon
13
Hims & Hers Health
HIMS
$6.55B
$18.8M 1.93%
+542,500
New +$14.6M
2026 Q2
0 quarters
KRE icon
14
CALL
State Street SPDR S&P Regional Banking ETF
KRE
$3.31B
$18.7M 1.92%
+250,000
New +$17.5M
2026 Q2
0 quarters
CART icon
15
Maplebear
CART
$11.8B
$18M 1.84%
380,000
-90,000
-19% -$3.76M
2024 Q4
6 quarters
FLNC icon
16
Fluence Energy
FLNC
$830M
$17.9M 1.83%
+900,000
New +$16.7M
2026 Q2
0 quarters
ILMN icon
17
Illumina
ILMN
$39.6B
$17.2M 1.76%
+97,800
New +$14.3M
2026 Q2
0 quarters
TDY icon
18
Teledyne Technologies
TDY
$28.7B
$16.7M 1.71%
25,000
+7,500
+43% +$4.73M
2025 Q3
3 quarters
HWM icon
19
Howmet Aerospace
HWM
$88.1B
$16.1M 1.65%
60,000
-10,000
-14% -$2.57M
2025 Q3
3 quarters
IWM icon
20
PUT
iShares Russell 2000 ETF
IWM
$76.2B
$15M 1.54%
50,000
-50,000
-50% -$14.1M
2026 Q1
1 quarter
OLMA icon
21
Olema Pharmaceuticals
OLMA
$576M
$15M 1.54%
1,200,000
+345,000
+40% +$4.62M
2025 Q3
3 quarters
ISRG icon
22
Intuitive Surgical
ISRG
$151B
$14.8M 1.51%
+37,100
New +$16.2M
2026 Q2
0 quarters
FLEX icon
23
Flex
FLEX
$33.4B
$14.6M 1.49%
90,000
-85,000
-49% -$10.3M
2023 Q1
13 quarters
CGNX icon
24
Cognex
CGNX
$9.08B
$14.5M 1.48%
200,000
+15,000
+8% +$910K
2026 Q1
1 quarter
BFLY icon
25
Butterfly Network
BFLY
$1.93B
$14.3M 1.47%
+1,700,000
New +$8.8M
2026 Q2
0 quarters
1
2 3 4

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Kingdon Capital Management's Q2 2026 Portfolio in Review

As of Q2 2026, Kingdon Capital Management held 100 positions worth $976M, up 7.2% from $911M the previous quarter. Its ten largest holdings account for 37% of the portfolio.

Kingdon Capital Management's Q2 2026 filing shows 33 new, 11 increased, 19 reduced and 26 closed positions. Its largest new stake was GRAIL Inc: 340,000 shares worth $23.2M. The largest sale was Soleno Therapeutics, an estimated $19.3M.

By sector, the portfolio is most concentrated in Healthcare at 26% of assets, up from 19% a quarter earlier, followed by Miscellaneous and Technology.

  • Kingdon Capital Management's largest Q2 2026 buy was GRAIL Inc: 340,000 shares worth $23.2M.
  • Kingdon Capital Management added most to NVIDIA in Q2 2026, an estimated $8.22M increase.
  • Kingdon Capital Management's biggest Q2 2026 reduction was Flex, cutting an estimated $10.3M.
  • Kingdon Capital Management fully exited Soleno Therapeutics in Q2 2026, selling an estimated $19.3M.
  • Kingdon Capital Management's ten largest holdings make up 37% of its $976M portfolio in Q2 2026.
  • Kingdon Capital Management opened 33 new positions and closed 26 in Q2 2026.
  • Kingdon Capital Management's portfolio value rose 7.2% quarter-over-quarter to $976M.

Based on Kingdon Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.