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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
(-21%)
Cap. Flow
-$285M
Cap. Flow
% of AUM
-38.37%
Top 10 Holdings %
Top 10 Hldgs %
34.84%
Holding
92
New
25
Increased
15
Reduced
20
Closed
25
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Arthur J. Gallagher & Co
AJG
|
+$14.8M |
| 2 |
Builders FirstSource
BLDR
|
+$14.8M |
| 3 |
SNDK
Sandisk
SNDK
|
+$14.2M |
| 4 |
Toll Brothers
TOL
|
+$14M |
| 5 |
iShares MSCI South Korea ETF
EWY
|
+$12M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
International Paper
IP
|
+$19.7M |
| 2 |
Insmed
INSM
|
+$16.4M |
| 3 |
Tenet Healthcare
THC
|
+$15.8M |
| 4 |
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 | |
|---|---|---|---|---|---|---|
76
Hasbro
HAS
$13.2B
| – | – |
-181,000
| Closed | -$11.1M |
|
77
CALL
Robinhood
HOOD
$83.9B
| – | – |
-300,000
| Closed | -$12.5M |
|
|
78
Insmed
INSM
$28.6B
| – | – |
-215,000
| Closed | -$16.4M |
|
|
79
International Paper
IP
$22B
| – | – |
-370,000
| Closed | -$19.7M |
|
80
PUT
State Street SPDR S&P Regional Banking ETF
KRE
$4.64B
| – | – |
-100,000
| Closed | -$5.68M |
|
81
Meta Platforms (Facebook)
META
$1.51T
| – | – |
-18,000
| Closed | -$10.4M |
|
|
OPTN
82
DELISTED
OptiNose
OPTN
| – | – |
-373,281
| Closed | -$3.42M |
|
|
PPL
83
PPL Corp
PPL
$26.7B
| – | – |
-350,000
| Closed | -$12.6M |
|
84
PUT
Invesco QQQ Trust
QQQ
$484B
| – | – |
-139,900
| Closed | -$65.6M |
|
85
RH
RH
$3.71B
| – | – |
-19,519
| Closed | -$4.58M |
|
86
CALL
Super Micro Computer
SMCI
$20.1B
| – | – |
-40,000
| Closed | -$1.37M |
|
87
Stryker
SYK
$130B
| – | – |
-26,600
| Closed | -$9.9M |
|
88
Tandem Diabetes Care
TNDM
$1.53B
| – | – |
-495,229
| Closed | -$9.49M |
|
89
UnitedHealth
UNH
$370B
| – | – |
-20,262
| Closed | -$10.6M |
|
90
CALL
Vistra
VST
$47.4B
| – | – |
-25,000
| Closed | -$2.94M |
|
91
PUT
State Street SPDR S&P Retail ETF
XRT
$327M
| – | – |
-345,000
| Closed | -$23.8M |
|
92
CALL
GE Vernova
GEV
$264B
| – | – |
-10,000
| Closed | -$3.05M |
|
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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.