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KCM

Kingdon Capital Management Portfolio holdings

AUM $976M
1-Year Est. Return 66.76%
This Fund
S&P 500
This Quarter Est. Return
-3.83%
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
$945M
AUM Growth
+$243M
Cap. Flow
-$55.3M
Cap. Flow %
-5.85%
Top 10 Hldgs %
56.11%
Holding
100
New
30
Increased
17
Reduced
14
Closed
33

Top Buys

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$19M
2
ACHC icon
Acadia Healthcare
ACHC
+$16.1M
3
GMED icon
Globus Medical
GMED
+$12.5M
4
HUM icon
Humana
HUM
+$11.3M
5
PKG icon
Packaging Corp of America
PKG
+$10.7M

Top Sells

Rank Stock Value
1
PRAX icon
Praxis Precision Medicines
PRAX
+$23.3M
2
ONON icon
On Holding
ONON
+$16.4M
3
CRL icon
Charles River Laboratories
CRL
+$14M
4
SAIA icon
Saia
SAIA
+$13.7M
5
BOOT icon
Boot Barn
BOOT
+$12.7M

Sector Composition

Rank Sector Weight
1 Miscellaneous 48.91%
2 Healthcare 17.26%
3 Industrials 9.19%
4 Consumer Discretionary 7.98%
5 Technology 5.67%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$825B
$308M 32.56%
550,000
+525,000
+2,100% +$309M
QQQ icon
2
PUT
Invesco QQQ Trust
QQQ
$489B
$65.6M 6.94%
+139,900
New +$71.1M
SNDX icon
3
Syndax Pharmaceuticals
SNDX
$1.74B
$24.6M 2.6%
2,000,000
– –
XRT icon
4
PUT
State Street SPDR S&P Retail ETF
XRT
$322M
$23.8M 2.52%
+345,000
New +$26.1M
IP icon
5
International Paper
IP
$20.8B
$19.7M 2.09%
370,000
+95,000
+35% +$5.2M
CRH icon
6
CRH
CRH
$63.8B
$19.4M 2.05%
220,000
+35,000
+19% +$3.44M
THC icon
7
Tenet Healthcare
THC
$21.5B
$19.2M 2.03%
142,500
-9,200
-6% -$1.21M
MMM icon
8
3M
MMM
$89.9B
$17.6M 1.87%
120,000
+5,000
+4% +$735K
INSM icon
9
Insmed
INSM
$25.9B
$16.4M 1.74%
215,000
-10,000
-4% -$765K
NVDA icon
10
NVIDIA
NVDA
$5.25T
$16.3M 1.72%
+150,000
New +$19M
TAP icon
11
Molson Coors Class B
TAP
$7.73B
$14.6M 1.55%
240,200
-48,000
-17% -$2.76M
ALNY icon
12
PUT
Alnylam Pharmaceuticals
ALNY
$31.7B
$13.5M 1.43%
+50,000
New +$12.8M
SMH icon
13
PUT
VanEck Semiconductor ETF
SMH
$65.6B
$13.3M 1.41%
+63,000
New +$15.1M
CART icon
14
Maplebear
CART
$11.7B
$13.2M 1.39%
330,000
+10,000
+3% +$444K
ACHC icon
15
Acadia Healthcare
ACHC
$2.66B
$12.8M 1.36%
+422,800
New +$16.1M
PPL
16
PPL Corp
PPL
$25.7B
$12.6M 1.34%
350,000
+85,000
+32% +$2.88M
HOOD icon
17
CALL
Robinhood
HOOD
$93.7B
$12.5M 1.32%
+300,000
New +$14.3M
HEI icon
18
HEICO Corp
HEI
$47B
$12M 1.27%
45,000
-15,000
-25% -$3.65M
IMAX icon
19
IMAX
IMAX
$2.76B
$11.8M 1.25%
449,500
-50,500
-10% -$1.26M
WM icon
20
Waste Management
WM
$87.8B
$11.6M 1.23%
50,000
+5,000
+11% +$1.11M
HAS icon
21
Hasbro
HAS
$13.3B
$11.1M 1.18%
181,000
-39,000
-18% -$2.36M
GMED icon
22
Globus Medical
GMED
$11.1B
$11.1M 1.17%
+151,300
New +$12.5M
HUM icon
23
Humana
HUM
$46.3B
$11.1M 1.17%
+41,792
New +$11.3M
MTCH icon
24
Match Group
MTCH
$9.54B
$10.9M 1.16%
350,000
+70,000
+25% +$2.29M
UNH icon
25
UnitedHealth
UNH
$353B
$10.6M 1.12%
+20,262
New +$10.4M
1
2 3 4

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Kingdon Capital Management's Q1 2025 Portfolio in Review

As of Q1 2025, Kingdon Capital Management held 100 positions worth $945M, up 35% from $702M the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Kingdon Capital Management withdrew a net $55.3M in Q1 2025, closing 33 positions and reducing 14 holdings. Its most notable exit was Praxis Precision Medicines, an estimated $23.3M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 49% of assets, up from 17% a quarter earlier, followed by Healthcare and Industrials.

Against the trend, Kingdon Capital Management opened a new position in NVIDIA worth $16.3M.

  • Kingdon Capital Management's largest Q1 2025 buy was NVIDIA: 150,000 shares worth $16.3M.
  • Kingdon Capital Management added most to International Paper in Q1 2025, an estimated $5.2M increase.
  • Kingdon Capital Management's biggest Q1 2025 reduction was Tandem Diabetes Care, cutting an estimated $8.64M.
  • Kingdon Capital Management fully exited Praxis Precision Medicines in Q1 2025, selling an estimated $23.3M.
  • Kingdon Capital Management's ten largest holdings make up 56% of its $945M portfolio in Q1 2025.
  • Kingdon Capital Management opened 30 new positions and closed 33 in Q1 2025.
  • Kingdon Capital Management's portfolio value rose 35% quarter-over-quarter to $945M.

Based on Kingdon Capital Management's 13F filing for Q1 2025, filed 15 May 2025.