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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
+8.9%
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
$841M
AUM Growth
+$35.5M
Cap. Flow
-$292K
Cap. Flow %
-0.03%
Top 10 Hldgs %
34.01%
Holding
103
New
26
Increased
16
Reduced
15
Closed
35

Top Buys

Rank Stock Value
1
KEYS icon
Keysight
KEYS
+$24.1M
2
BABA icon
Alibaba
BABA
+$16.3M
3
AMD icon
Advanced Micro Devices
AMD
+$15.7M
4
WRBY icon
Warby Parker
WRBY
+$15.3M
5
WAY
Waystar Holding Corp
WAY
+$14.8M

Top Sells

Rank Stock Value
1
MOH icon
Molina Healthcare
MOH
+$21.1M
2
EW icon
Edwards Lifesciences
EW
+$19.6M
3
HUM icon
Humana
HUM
+$18.4M
4
BLDR icon
Builders FirstSource
BLDR
+$18.2M
5
GMED icon
Globus Medical
GMED
+$14.8M

Sector Composition

Rank Sector Weight
1 Healthcare 21.74%
2 Technology 18.21%
3 Industrials 13.44%
4 Consumer Discretionary 5.25%
5 Consumer Staples 3.42%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GEG icon
76
Great Elm Group
GEG
$69.3M
– –
-1,168,907
Closed -$2.86M
GLW icon
77
Corning
GLW
$143B
– –
-80,000
Closed -$6.56M
GMED icon
78
Globus Medical
GMED
$11.2B
– –
-257,650
Closed -$14.8M
HCI icon
79
CALL
HCI Group
HCI
$2.41B
– –
-50,000
Closed -$9.6M
HD icon
80
Home Depot
HD
$355B
– –
-14,300
Closed -$5.79M
HUM icon
81
Humana
HUM
$46.2B
– –
-70,600
Closed -$18.4M
ICE icon
82
Intercontinental Exchange
ICE
$84.4B
– –
-50,000
Closed -$8.42M
IOT icon
83
CALL
Samsara
IOT
$23.8B
– –
-100,000
Closed -$3.73M
ITB icon
84
PUT
iShares US Home Construction ETF
ITB
$2.41B
– –
-75,000
Closed -$8.04M
JSPR icon
85
Jasper Therapeutics
JSPR
$23.6M
– –
-1,324,845
Closed -$3.15M
KKR icon
86
KKR & Co
KKR
$92.3B
– –
-40,000
Closed -$4.98M
LOW icon
87
Lowe's Companies
LOW
$125B
– –
-22,250
Closed -$5.59M
META icon
88
Meta Platforms (Facebook)
META
$1.51T
– –
-16,000
Closed -$11.8M
MIR icon
89
Mirion Technologies
MIR
$3.91B
– –
-375,000
Closed -$8.72M
MLTX icon
90
CALL
MoonLake Immunotherapeutics
MLTX
$1.55B
– –
-50,000
Closed -$359K
MOH icon
91
Molina Healthcare
MOH
$10.3B
– –
-110,200
Closed -$21.1M
MSFT icon
92
Microsoft
MSFT
$3.71T
– –
-27,500
Closed -$14.2M
ORCL icon
93
CALL
Oracle
ORCL
$423B
– –
-20,000
Closed -$5.62M
PANW icon
94
Palo Alto Networks
PANW
$297B
– –
-45,000
Closed -$9.16M
PSN icon
95
Parsons
PSN
$5.08B
– –
-10,000
Closed -$829K
QQQ icon
96
PUT
Invesco QQQ Trust
QQQ
$481B
– –
-85,000
Closed -$51M
SCYX icon
97
SCYNEXIS
SCYX
$52M
– –
-279,631
Closed -$1.72M
SKY icon
98
Champion Homes
SKY
$5.14B
– –
-150,000
Closed -$11.5M
SYF icon
99
PUT
Synchrony
SYF
$25.6B
– –
-75,000
Closed -$5.33M
XAIR icon
100
Beyond Air
XAIR
$3.86M
– –
-2,342
Closed -$108K
1 2 3
4
5

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GC
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ICP
Ironvine Capital Partners Omaha, Nebraska $910M AUM 10.64% 1-Year Est. Return
SAA
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GIG
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SI
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PAMI
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BDP
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PTC
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Kingdon Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Kingdon Capital Management held 103 positions worth $841M, up 4.4% from $806M the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Kingdon Capital Management's Q4 2025 filing shows 26 new, 16 increased, 15 reduced and 35 closed positions. Its largest new stake was Keysight: 130,000 shares worth $26.4M. The largest sale was Molina Healthcare, an estimated $21.1M.

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

  • Kingdon Capital Management's largest Q4 2025 buy was Keysight: 130,000 shares worth $26.4M.
  • Kingdon Capital Management added most to Warby Parker in Q4 2025, an estimated $15.3M increase.
  • Kingdon Capital Management's biggest Q4 2025 reduction was Curtiss-Wright, cutting an estimated $5.86M.
  • Kingdon Capital Management fully exited Molina Healthcare in Q4 2025, selling an estimated $21.1M.
  • Kingdon Capital Management's ten largest holdings make up 34% of its $841M portfolio in Q4 2025.
  • Kingdon Capital Management opened 26 new positions and closed 35 in Q4 2025.
  • Kingdon Capital Management's portfolio value rose 4.4% quarter-over-quarter to $841M.

Based on Kingdon Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.