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KCM

Kingdon Capital Management Portfolio holdings

AUM $976M Turnover 59%
1-Year Est. Return 66.76%
This Fund
S&P 500
This Quarter Est. Return
+13.94%
1 Year Est. Return
+66.76%
3 Year Est. Return
+217.15%
5 Year Est. Return
+352.97%
10 Year Est. Return
+2,412.55%
AUM
$799M
AUM Growth
-$69.3M
Cap. Flow
-$76.5M
Cap. Flow %
-9.57%
Top 10 Hldgs %
33.68%
Holding
99
New
27
Increased
16
Reduced
25
Closed
25
Avg Time Held Equity + Options
0.8 years
Top 10 Avg Time Held Equity + Options
0.2 years
Top 20 Avg Time Held Equity + Options
0.4 years
Avg Time Held Equity only
1.1 years
Top 10 Avg Time Held Equity only
0.5 years
Top 20 Avg Time Held Equity only
0.6 years

Top Buys

Rank Stock Value
1
TECK icon
Teck Resources
TECK
+$19.1M
2
DELL icon
Dell
DELL
+$15.2M
3
SHW icon
Sherwin-Williams
SHW
+$14.1M
4
SNDX icon
Syndax Pharmaceuticals
SNDX
+$11.5M
5
INSM icon
Insmed
INSM
+$10.5M

Top Sells

Rank Stock Value
1
DHR icon
Danaher
DHR
+$26.8M
2
META icon
Meta Platforms (Facebook)
META
+$17.1M
3
MAT icon
Mattel
MAT
+$14.3M
4
RNR icon
RenaissanceRe
RNR
+$12.5M
5
ACHC icon
Acadia Healthcare
ACHC
+$12.1M

Sector Composition

Rank Sector Weight
1 Miscellaneous 34.25%
2 Industrials 17.74%
3 Healthcare 16.79%
4 Technology 10.27%
5 Materials 4.8%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
QQQ icon
1
PUT
Invesco QQQ Trust
QQQ
$487B
$50M 6.25%
122,000
+91,000
+294% +$34.5M
2023 Q2
2 quarters
BX icon
2
PUT
Blackstone
BX
$87.1B
$39.3M 4.92%
+300,000
New +$32.5M
2023 Q4
0 quarters
APG icon
3
APi Group
APG
$17.4B
$28.1M 3.52%
1,220,223
– –
2020 Q2
14 quarters
CTLT icon
4
DELISTED
CATALENT, INC.
CTLT
$26.3M 3.29%
585,463
+35,063
+6% +$1.42M
2023 Q2
2 quarters
RAPT icon
5
DELISTED
RAPT Therapeutics
RAPT
$24M 3%
120,729
+20,000
+20% +$2.48M
2020 Q4
12 quarters
SPY icon
6
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$815B
$23.8M 2.97%
50,000
-200,000
-80% -$89.1M
2023 Q3
1 quarter
TECK icon
7
Teck Resources
TECK
$32.3B
$21.1M 2.63%
+498,000
New +$19.1M
2023 Q4
0 quarters
META icon
8
Meta Platforms (Facebook)
META
$1.88T
$19.5M 2.44%
55,000
-52,500
-49% -$17.1M
2023 Q1
3 quarters
FTAI icon
9
FTAI Aviation
FTAI
$17.3B
$19M 2.38%
410,200
-50,000
-11% -$2M
2023 Q1
3 quarters
UNP icon
10
Union Pacific
UNP
$172B
$18.1M 2.26%
73,650
+19,600
+36% +$4.31M
2023 Q3
1 quarter
TAP icon
11
Molson Coors Class B
TAP
$7.28B
$17.6M 2.21%
288,200
+33,700
+13% +$2.03M
2023 Q1
3 quarters
SYF icon
12
PUT
Synchrony
SYF
$24.1B
$17.2M 2.15%
+450,000
New +$14.2M
2023 Q4
0 quarters
BAC icon
13
CALL
Bank of America
BAC
$362B
$16.8M 2.11%
500,000
– –
2022 Q4
4 quarters
DELL icon
14
Dell
DELL
$301B
$16.4M 2.06%
+215,000
New +$15.2M
2023 Q4
0 quarters
MSFT icon
15
Microsoft
MSFT
$4.01T
$16.4M 2.05%
43,500
-26,500
-38% -$9.43M
2023 Q3
1 quarter
HAS icon
16
Hasbro
HAS
$13.9B
$16.3M 2.04%
320,000
-45,000
-12% -$2.27M
2023 Q1
3 quarters
SHW icon
17
Sherwin-Williams
SHW
$81.8B
$16.3M 2.04%
+52,250
New +$14.1M
2023 Q4
0 quarters
SNDX icon
18
Syndax Pharmaceuticals
SNDX
$1.22B
$16.1M 2.02%
+746,293
New +$11.5M
2023 Q4
0 quarters
HEI icon
19
HEICO Corp
HEI
$43.1B
$16.1M 2.01%
90,000
– –
2023 Q1
3 quarters
SHW icon
20
CALL
Sherwin-Williams
SHW
$81.8B
$15.6M 1.95%
+50,000
New +$13.4M
2023 Q4
0 quarters
HD icon
21
CALL
Home Depot
HD
$308B
$15.6M 1.95%
+45,000
New +$13.9M
2023 Q4
0 quarters
TCOM icon
22
Trip.com Group
TCOM
$25.1B
$15.5M 1.94%
430,000
-67,000
-13% -$2.28M
2023 Q2
2 quarters
CTVA icon
23
CALL
Corteva
CTVA
$8.59B
$14.4M 1.8%
+300,000
New +$14.3M
2023 Q4
0 quarters
INSM icon
24
Insmed
INSM
$21.7B
$12.6M 1.57%
+405,000
New +$10.5M
2023 Q4
0 quarters
PCG icon
25
PG&E
PCG
$38.9B
$12.2M 1.52%
675,000
-25,000
-4% -$422K
2023 Q3
1 quarter
1
2 3 4

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Kingdon Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Kingdon Capital Management held 99 positions worth $799M, down 8% from $868M the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Kingdon Capital Management withdrew a net $76.5M in Q4 2023, closing 25 positions and reducing 25 holdings. Its most notable exit was Danaher, an estimated $26.8M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 34% of assets, down from 37% a quarter earlier, followed by Industrials and Healthcare.

Against the trend, Kingdon Capital Management opened a new position in Teck Resources worth $21.1M.

  • Kingdon Capital Management's largest Q4 2023 buy was Teck Resources: 498,000 shares worth $21.1M.
  • Kingdon Capital Management added most to Union Pacific in Q4 2023, an estimated $4.31M increase.
  • Kingdon Capital Management's biggest Q4 2023 reduction was Meta Platforms (Facebook), cutting an estimated $17.1M.
  • Kingdon Capital Management fully exited Danaher in Q4 2023, selling an estimated $26.8M.
  • Kingdon Capital Management's ten largest holdings make up 34% of its $799M portfolio in Q4 2023.
  • Kingdon Capital Management opened 27 new positions and closed 25 in Q4 2023.
  • Kingdon Capital Management's portfolio value fell 8% quarter-over-quarter to $799M.

Based on Kingdon Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.