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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
WDC icon
51
Western Digital
WDC
$150B
$7.2M 0.89%
60,000
-70,000
-54% -$5.72M
AXON
52
Axon Enterprise
AXON
$46.4B
$7.18M 0.89%
+10,000
New +$7.59M
ALDX icon
53
Aldeyra Therapeutics
ALDX
$93.5M
$6.95M 0.86%
1,331,791
– –
GLW icon
54
Corning
GLW
$143B
$6.56M 0.81%
+80,000
New +$5.23M
ITRI icon
55
Itron
ITRI
$4.54B
$6.23M 0.77%
+50,000
New +$6.36M
ZVRA icon
56
Zevra Therapeutics
ZVRA
$686M
$6.18M 0.77%
650,000
+200,000
+44% +$2.01M
GEV icon
57
PUT
GE Vernova
GEV
$264B
$6.15M 0.76%
+10,000
New +$6.06M
TTEK icon
58
Tetra Tech
TTEK
$9.07B
$5.84M 0.73%
175,000
-140,000
-44% -$5.09M
HD icon
59
Home Depot
HD
$355B
$5.79M 0.72%
+14,300
New +$5.62M
ORCL icon
60
CALL
Oracle
ORCL
$423B
$5.62M 0.7%
+20,000
New +$5.09M
LOW icon
61
Lowe's Companies
LOW
$125B
$5.59M 0.69%
+22,250
New +$5.47M
SYF icon
62
PUT
Synchrony
SYF
$25.6B
$5.33M 0.66%
+75,000
New +$5.43M
KKR icon
63
KKR & Co
KKR
$92.3B
$5.2M 0.65%
+40,000
New +$5.68M
ALC icon
64
Alcon
ALC
$35B
$4.28M 0.53%
+57,500
New +$4.8M
BN icon
65
Brookfield
BN
$108B
$4.11M 0.51%
+90,000
New +$3.99M
IOT icon
66
CALL
Samsara
IOT
$23.8B
$3.73M 0.46%
+100,000
New +$3.71M
WWW icon
67
Wolverine World Wide
WWW
$1.55B
$3.55M 0.44%
129,500
-395,200
-75% -$10.4M
XFOR icon
68
X4 Pharmaceuticals
XFOR
$460M
$3.19M 0.4%
933,332
+700,000
+300% +$1.81M
JSPR icon
69
Jasper Therapeutics
JSPR
$23.6M
$3.15M 0.39%
1,324,845
+640,138
+93% +$1.94M
GEG icon
70
Great Elm Group
GEG
$69.3M
$2.86M 0.36%
1,168,907
-100,000
-8% -$238K
NB
71
NioCorp Developments
NB
$780M
$2.1M 0.26%
314,465
– –
SCYX icon
72
SCYNEXIS
SCYX
$52M
$1.72M 0.21%
279,631
– –
NVNO
73
enVVeno Medical
NVNO
$7.08M
$1.23M 0.15%
38,836
+14,286
+58% +$1.46M
CVNA icon
74
Carvana
CVNA
$77.9B
$943K 0.12%
+12,500
New +$894K
PSN icon
75
Parsons
PSN
$5.08B
$829K 0.1%
+10,000
New +$774K
1 2
3
4 5

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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.