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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
+5.29%
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
$911M
AUM Growth
+$69.8M
(+8.3%)
Cap. Flow
-$41.2M
Cap. Flow
% of AUM
-4.52%
Top 10 Holdings %
Top 10 Hldgs %
47.45%
Holding
100
New
32
Increased
17
Reduced
12
Closed
33
Avg Time Held Equity + Options
0.6
years
Top 10 Avg Time Held Equity + Options
0.4
years
Top 20 Avg Time Held Equity + Options
0.4
years
Avg Time Held Equity only
0.7
years
Top 10 Avg Time Held Equity only
0.5
years
Top 20 Avg Time Held Equity only
0.4
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Garrett Motion
GTX
|
+$13.1M |
| 2 |
AerCap
AER
|
+$12.9M |
| 3 |
iShares Global Clean Energy ETF
ICLN
|
+$12.7M |
| 4 |
VSE Corp
VSEC
|
+$12.2M |
| 5 |
Brookdale Senior Living
BKD
|
+$11.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CRH
CRH
|
+$18.7M |
| 2 |
Advanced Micro Devices
AMD
|
+$15M |
| 3 |
Liberty Media Corporation Series C Common Stock
FWONK
|
+$13.8M |
| 4 |
Keysight
KEYS
|
+$12.5M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$11.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 36.87% |
| 2 | Healthcare | 19% |
| 3 | Technology | 15.04% |
| 4 | Industrials | 13.85% |
| 5 | Consumer Discretionary | 7.08% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$806B
| $185M | 20.34% |
+285,000
| New | +$194M |
2026 Q1
0 quarters
|
|
2
Syndax Pharmaceuticals
SNDX
$1.16B
| $58.4M | 6.41% |
2,500,000
+150,000
| +6% | +$3.26M |
2023 Q4
9 quarters
|
|
3
NVIDIA
NVDA
$5.2T
| $34.9M | 3.83% |
200,000
+55,000
| +38% | +$10.1M |
2025 Q1
4 quarters
|
|
4
NexGen Energy
NXE
$5.59B
| $29M | 3.18% |
2,500,000
| – | – |
2023 Q4
9 quarters
|
|
5
PUT
iShares Russell 2000 ETF
IWM
$76.2B
| $24.8M | 2.72% |
+100,000
| New | +$25.8M |
2026 Q1
0 quarters
|
|
|
6
Keysight
KEYS
$57.3B
| $22.6M | 2.48% |
80,000
-50,000
| -38% | -$12.5M |
2025 Q4
1 quarter
|
|
7
Warby Parker
WRBY
$3B
| $22.2M | 2.44% |
1,053,644
| – | – |
2025 Q3
2 quarters
|
|
8
DELISTED
Soleno Therapeutics
SLNO
| $19.3M | 2.11% |
575,000
+175,100
| +44% | +$6.87M |
2025 Q3
2 quarters
|
|
9
APi Group
APG
$17.3B
| $18.2M | 2% |
450,000
+75,000
| +20% | +$3.18M |
2025 Q1
4 quarters
|
|
10
Maplebear
CART
$11.7B
| $17.6M | 1.93% |
470,000
+80,000
| +21% | +$3.03M |
2024 Q4
5 quarters
|
|
11
Howmet Aerospace
HWM
$88.3B
| $16.1M | 1.77% |
70,000
-10,000
| -13% | -$2.33M |
2025 Q3
2 quarters
|
|
12
PUT
iShares MSCI USA Momentum Factor ETF
MTUM
$18.6B
| $15.6M | 1.71% |
+65,000
| New | +$16.3M |
2026 Q1
0 quarters
|
|
13
TSMC
TSM
$2.14T
| $15.2M | 1.67% |
45,000
+5,000
| +13% | +$1.72M |
2024 Q1
8 quarters
|
|
14
PUT
iShares MSCI South Korea ETF
EWY
$21.6B
| $14.8M | 1.62% |
120,000
+45,000
| +60% | +$5.63M |
2025 Q3
2 quarters
|
|
15
Everus Construction Group
ECG
$5.59B
| $14.8M | 1.62% |
125,000
-75,000
| -38% | -$7.76M |
2024 Q4
5 quarters
|
|
16
American Healthcare REIT
AHR
$11.5B
| $14.1M | 1.55% |
300,000
+100,000
| +50% | +$4.96M |
2025 Q4
1 quarter
|
|
17
PUT
VanEck Semiconductor ETF
SMH
$66.4B
| $13.4M | 1.47% |
35,000
-15,000
| -30% | -$5.96M |
2025 Q1
4 quarters
|
|
|
18
iShares Global Clean Energy ETF
ICLN
$2.12B
| $12.8M | 1.41% |
+700,000
| New | +$12.7M |
2026 Q1
0 quarters
|
|
19
Olema Pharmaceuticals
OLMA
$569M
| $12.7M | 1.4% |
855,000
-98,600
| -10% | -$2.19M |
2025 Q3
2 quarters
|
|
|
20
Garrett Motion
GTX
$4.51B
| $12.7M | 1.4% |
+700,000
| New | +$13.1M |
2026 Q1
0 quarters
|
|
|
21
AerCap
AER
$22.9B
| $12.3M | 1.36% |
+90,000
| New | +$12.9M |
2026 Q1
0 quarters
|
|
22
Darling Ingredients
DAR
$9.72B
| $11.8M | 1.29% |
+190,000
| New | +$9.36M |
2026 Q1
0 quarters
|
|
23
Icon
ICLR
$13.2B
| $11.7M | 1.28% |
105,300
+54,700
| +108% | +$7.47M |
2025 Q4
1 quarter
|
|
|
24
Brookdale Senior Living
BKD
$2.38B
| $11.6M | 1.28% |
+850,000
| New | +$11.9M |
2026 Q1
0 quarters
|
|
25
Flex
FLEX
$33.8B
| $11.5M | 1.26% |
175,000
+80,000
| +84% | +$5.12M |
2023 Q1
12 quarters
|
|
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Kingdon Capital Management's Q1 2026 Portfolio in Review
As of Q1 2026, Kingdon Capital Management held 100 positions worth $911M, up 8.3% from $841M the previous quarter. Its ten largest holdings account for 47% of the portfolio.
Kingdon Capital Management withdrew a net $41.2M in Q1 2026, closing 33 positions and reducing 12 holdings. Its most notable exit was CRH, an estimated $18.7M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 37% of assets, up from 24% a quarter earlier, followed by Healthcare and Technology.
Against the trend, Kingdon Capital Management opened a new position in Garrett Motion worth $12.7M.
- Kingdon Capital Management's largest Q1 2026 buy was Garrett Motion: 700,000 shares worth $12.7M.
- Kingdon Capital Management added most to NVIDIA in Q1 2026, an estimated $10.1M increase.
- Kingdon Capital Management's biggest Q1 2026 reduction was Keysight, cutting an estimated $12.5M.
- Kingdon Capital Management fully exited CRH in Q1 2026, selling an estimated $18.7M.
- Kingdon Capital Management's ten largest holdings make up 47% of its $911M portfolio in Q1 2026.
- Kingdon Capital Management opened 32 new positions and closed 33 in Q1 2026.
- Kingdon Capital Management's portfolio value rose 8.3% quarter-over-quarter to $911M.
Based on Kingdon Capital Management's 13F filing for Q1 2026, filed 15 May 2026.