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KCM

Kingdon Capital Management Portfolio holdings

AUM $911M
1-Year Est. Return 51.11%
This Fund
S&P 500
This Quarter Est. Return
+16.98%
1 Year Est. Return
+51.11%
3 Year Est. Return
+185.44%
5 Year Est. Return
+284.29%
10 Year Est. Return
+2,022.7%
AUM
$743M
AUM Growth
-$202M
Cap. Flow
-$285M
Cap. Flow %
-38.37%
Top 10 Hldgs %
34.84%
Holding
92
New
25
Increased
15
Reduced
20
Closed
25

Top Buys

Rank Stock Value
1
AJG icon
Arthur J. Gallagher & Co
AJG
+$14.8M
2
BLDR icon
Builders FirstSource
BLDR
+$14.8M
3
SNDK
Sandisk
SNDK
+$14.2M
4
TOL icon
Toll Brothers
TOL
+$14M
5
EWY icon
iShares MSCI South Korea ETF
EWY
+$12M

Top Sells

Rank Stock Value
1
IP icon
International Paper
IP
+$19.7M
2
INSM icon
Insmed
INSM
+$16.4M
3
THC icon
Tenet Healthcare
THC
+$15.8M
4
ACHC icon
Acadia Healthcare
ACHC
+$12.8M
5
PPL
PPL Corp
PPL
+$12.6M

Sector Composition

Rank Sector Weight
1 Industrials 19.29%
2 Technology 13.7%
3 Healthcare 12.13%
4 Consumer Discretionary 7.08%
5 Financials 4.38%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TAP icon
26
Molson Coors Class B
TAP
$7.85B
$11.6M 1.56%
240,200
– –
APG icon
27
APi Group
APG
$18.1B
$11.5M 1.55%
337,500
-75,000
-18% -$2.15M
TTEK icon
28
Tetra Tech
TTEK
$8.78B
$11.3M 1.53%
+315,000
New +$10.5M
SRAD icon
29
Sportradar
SRAD
$3.74B
$11.2M 1.51%
+400,000
New +$9.5M
JPM icon
30
JPMorgan Chase
JPM
$955B
$10.1M 1.37%
+35,000
New +$8.93M
GMED icon
31
Globus Medical
GMED
$10.9B
$10M 1.35%
170,000
+18,700
+12% +$1.21M
OKTA icon
32
Okta
OKTA
$25.6B
$10M 1.35%
100,000
+45,000
+82% +$4.81M
RDNT icon
33
RadNet
RDNT
$5.27B
$9.85M 1.33%
173,000
+96,000
+125% +$5.27M
WMT icon
34
Walmart Inc
WMT
$894B
$9.78M 1.32%
100,000
– –
TSM icon
35
TSMC
TSM
$2.15T
$9.63M 1.3%
42,500
-10,000
-19% -$1.85M
WWW icon
36
Wolverine World Wide
WWW
$1.6B
$9.49M 1.28%
524,700
-100,000
-16% -$1.52M
IMAX icon
37
IMAX
IMAX
$2.78B
$9.47M 1.28%
338,654
-110,846
-25% -$2.88M
MIR icon
38
Mirion Technologies
MIR
$3.84B
$9.15M 1.23%
425,000
-25,000
-6% -$431K
CW icon
39
Curtiss-Wright
CW
$27.6B
$8.55M 1.15%
17,500
-12,500
-42% -$4.93M
WELL icon
40
Welltower
WELL
$171B
$8.46M 1.14%
+55,000
New +$8.22M
ULS icon
41
UL Solutions
ULS
$15.9B
$8.38M 1.13%
+115,000
New +$7.53M
WDC icon
42
Western Digital
WDC
$179B
$8.32M 1.12%
130,000
-20,000
-13% -$952K
SNDK
43
PUT
Sandisk
SNDK
$200B
$7.26M 0.98%
+160,000
New +$6.12M
EW icon
44
Edwards Lifesciences
EW
$51.2B
$7.14M 0.96%
+91,300
New +$6.81M
PCT icon
45
PureCycle Technologies
PCT
$1.38B
$6.73M 0.91%
+491,000
New +$4.35M
THC icon
46
Tenet Healthcare
THC
$21.1B
$6.65M 0.9%
37,800
-104,700
-73% -$15.8M
ALIT icon
47
Alight
ALIT
$380M
$6.23M 0.84%
55,000
+22,500
+69% +$2.41M
WNS
48
DELISTED
WNS Holdings
WNS
$6.01M 0.81%
95,000
+30,000
+46% +$1.8M
ENPH icon
49
PUT
Enphase Energy
ENPH
$5.15B
$5.95M 0.8%
150,000
+75,000
+100% +$3.46M
VST icon
50
Vistra
VST
$47.4B
$5.81M 0.78%
+30,000
New +$4.44M
1
2
3 4

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SAA
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GIG
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Kingdon Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Kingdon Capital Management held 92 positions worth $743M, down 21% from $945M the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Kingdon Capital Management withdrew a net $285M in Q2 2025, closing 25 positions and reducing 20 holdings. Its most notable exit was International Paper, an estimated $19.7M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 19% of assets, up from 9.2% a quarter earlier, followed by Technology and Healthcare.

Against the trend, Kingdon Capital Management opened a new position in Arthur J. Gallagher & Co worth $14.4M.

  • Kingdon Capital Management's largest Q2 2025 buy was Arthur J. Gallagher & Co: 45,000 shares worth $14.4M.
  • Kingdon Capital Management added most to Humana in Q2 2025, an estimated $5.69M increase.
  • Kingdon Capital Management's biggest Q2 2025 reduction was Tenet Healthcare, cutting an estimated $15.8M.
  • Kingdon Capital Management fully exited International Paper in Q2 2025, selling an estimated $19.7M.
  • Kingdon Capital Management's ten largest holdings make up 35% of its $743M portfolio in Q2 2025.
  • Kingdon Capital Management opened 25 new positions and closed 25 in Q2 2025.
  • Kingdon Capital Management's portfolio value fell 21% quarter-over-quarter to $743M.

Based on Kingdon Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.