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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
VST icon
101
Vistra
VST
$47.4B
– –
-30,000
Closed -$5.81M
WM icon
102
Waste Management
WM
$91B
– –
-70,000
Closed -$16M
WNS
103
DELISTED
WNS Holdings
WNS
– –
-95,000
Closed -$6.01M
SNDK
104
Sandisk
SNDK
$177B
– –
-370,000
Closed -$16.8M
SNDK
105
PUT
Sandisk
SNDK
$177B
– –
-160,000
Closed -$7.26M
1 2 3 4
5

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GC
Greenvale Capital London, United Kingdom $912M AUM 34.2% 1-Year Est. Return
ICP
Ironvine Capital Partners Omaha, Nebraska $910M AUM 10.64% 1-Year Est. Return
SAA
Southeast Asset Advisors Thomasville, Georgia $913M AUM 25.32% 1-Year Est. Return
GIG
Goodnow Investment Group Darien, Connecticut $913M AUM 11.84% 1-Year Est. Return
SI
Symmetry Investments St Helier, Jersey $913M AUM 30.59% 1-Year Est. Return
PAMI
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BDP
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PTC
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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.