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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
XFOR icon
101
X4 Pharmaceuticals
XFOR
$460M
– –
-933,332
Closed -$3.19M
XLU icon
102
PUT
State Street Utilities Select Sector SPDR ETF
XLU
$22.5B
– –
-300,000
Closed -$13.1M
GEV icon
103
PUT
GE Vernova
GEV
$264B
– –
-10,000
Closed -$6.15M
1 2 3 4
5

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SAA
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GIG
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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 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.