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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
+12.66%
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
$806M
AUM Growth
+$63.2M
Cap. Flow
+$6.72M
Cap. Flow %
0.83%
Top 10 Hldgs %
31.19%
Holding
105
New
38
Increased
18
Reduced
11
Closed
28

Top Buys

Rank Stock Value
1
SLNO
Soleno Therapeutics
SLNO
+$22.3M
2
MOH icon
Molina Healthcare
MOH
+$20.3M
3
MSFT icon
Microsoft
MSFT
+$14M
4
EW icon
Edwards Lifesciences
EW
+$12.5M
5
META icon
Meta Platforms (Facebook)
META
+$11.9M

Top Sells

Rank Stock Value
1
SNDK
Sandisk
SNDK
+$16.8M
2
WM icon
Waste Management
WM
+$16M
3
TOL icon
Toll Brothers
TOL
+$15.4M
4
MMM icon
3M
MMM
+$15.2M
5
AJG icon
Arthur J. Gallagher & Co
AJG
+$14.4M

Sector Composition

Rank Sector Weight
1 Healthcare 22.02%
2 Industrials 17.09%
3 Technology 16.15%
4 Consumer Discretionary 5.45%
5 Financials 3.57%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TAP icon
26
Molson Coors Class B
TAP
$8.09B
$10.9M 1.35%
240,200
– –
NXPI icon
27
NXP Semiconductors
NXPI
$60.4B
$10.8M 1.34%
+47,500
New +$10.7M
EWY icon
28
iShares MSCI South Korea ETF
EWY
$24.1B
$10.8M 1.34%
135,000
-65,000
-33% -$4.84M
HWM icon
29
Howmet Aerospace
HWM
$112B
$10.8M 1.34%
+55,000
New +$10M
ETR icon
30
Entergy
ETR
$50B
$10.7M 1.33%
+115,000
New +$10.1M
WELL icon
31
Welltower
WELL
$171B
$10.7M 1.33%
60,000
+5,000
+9% +$822K
WMT icon
32
Walmart Inc
WMT
$890B
$10.3M 1.28%
100,000
– –
BX icon
33
PUT
Blackstone
BX
$110B
$10.3M 1.27%
+60,000
New +$10.3M
FLEX icon
34
Flex
FLEX
$44.8B
$10.1M 1.26%
175,000
-65,000
-27% -$3.45M
WRBY icon
35
Warby Parker
WRBY
$3.27B
$9.65M 1.2%
+350,000
New +$8.84M
RAL
36
Ralliant Corp
RAL
$7.46B
$9.62M 1.19%
+220,000
New +$9.78M
HCI icon
37
CALL
HCI Group
HCI
$2.41B
$9.6M 1.19%
+50,000
New +$7.92M
CW icon
38
Curtiss-Wright
CW
$25.5B
$9.5M 1.18%
17,500
– –
PANW icon
39
Palo Alto Networks
PANW
$297B
$9.16M 1.14%
+45,000
New +$8.61M
ULS icon
40
UL Solutions
ULS
$15.8B
$8.86M 1.1%
125,000
+10,000
+9% +$682K
TDY icon
41
Teledyne Technologies
TDY
$32B
$8.79M 1.09%
+15,000
New +$8.21M
MIR icon
42
Mirion Technologies
MIR
$3.91B
$8.72M 1.08%
375,000
-50,000
-12% -$1.08M
ICE icon
43
Intercontinental Exchange
ICE
$84.4B
$8.42M 1.05%
+50,000
New +$8.93M
OLMA icon
44
Olema Pharmaceuticals
OLMA
$1.05B
$8.36M 1.04%
+854,000
New +$5.13M
FWONK icon
45
Liberty Media Series C
FWONK
$25.8B
$8.36M 1.04%
+80,000
New +$8.11M
HCI icon
46
HCI Group
HCI
$2.41B
$8.16M 1.01%
42,500
+7,500
+21% +$1.19M
CNM icon
47
Core & Main
CNM
$8.71B
$8.07M 1%
+150,000
New +$9.08M
ITB icon
48
PUT
iShares US Home Construction ETF
ITB
$2.35B
$8.04M 1%
+75,000
New +$7.9M
GOOGL icon
49
Alphabet (Google) Class A
GOOGL
$4.33T
$7.29M 0.91%
+30,000
New +$6.28M
PCT icon
50
PureCycle Technologies
PCT
$1.45B
$7.27M 0.9%
553,000
+62,000
+13% +$861K
1
2
3 4 5

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SAA
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GIG
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Kingdon Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, Kingdon Capital Management held 105 positions worth $806M, up 8.5% from $743M the previous quarter. Its ten largest holdings account for 31% of the portfolio.

Kingdon Capital Management's Q3 2025 filing shows 38 new, 18 increased, 11 reduced and 28 closed positions. Its largest new stake was Soleno Therapeutics: 301,000 shares worth $20.3M. The largest sale was Sandisk, an estimated $16.8M.

By sector, the portfolio is most concentrated in Healthcare at 22% of assets, up from 12% a quarter earlier, followed by Industrials and Technology.

  • Kingdon Capital Management's largest Q3 2025 buy was Soleno Therapeutics: 301,000 shares worth $20.3M.
  • Kingdon Capital Management added most to Edwards Lifesciences in Q3 2025, an estimated $12.5M increase.
  • Kingdon Capital Management's biggest Q3 2025 reduction was Wolverine World Wide, cutting an estimated $10.4M.
  • Kingdon Capital Management fully exited Sandisk in Q3 2025, selling an estimated $16.8M.
  • Kingdon Capital Management's ten largest holdings make up 31% of its $806M portfolio in Q3 2025.
  • Kingdon Capital Management opened 38 new positions and closed 28 in Q3 2025.
  • Kingdon Capital Management's portfolio value rose 8.5% quarter-over-quarter to $806M.

Based on Kingdon Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.