KC
Kingdon Capital Management, L.l.c. 13F Holdings Breakdown
Kingdon Capital Management, L.l.c.Diversified strategyHigh-turnover traderMomentum follower
Total reported value
$911.0M
Reporting period: 2026-03-31 · Number of holdings: 67
KINGDON CAPITAL MANAGEMENT, L.L.C. disclosed 67 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $911.0M and a quarterly turnover rate of 103.5%.
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Personality snowflake
- Concentration
- 23.04
- Portfolio Stability
- 100
- Momentum/Contrarian
- 96.6
- Sector conviction
- 80.38
- Diversification
- 100
- Sizing Uniformity
- 83.31
Recent moves
Trim NVDA
-23.1% -$13.6M
Trim BABA
-48.6% -$14.4M
Trim OLMA
-10.3% -$11.1M
Add AIR
+150.0% $7.6M
Trim ALDX
+16.3% -$5.9M
Add SNDX
+6.4% $9.0M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 65 holdings (of 67 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 20.34% | +20.34% | NEW | |
| 2 | SNDX | Syndax Pharmaceuticals INC | Stock-Other | 6.41% | +0.54% | +6.38% | |
| 3 | NVDA | Nvidia CORP | Stock-Tech | 3.83% | -1.93% | -23.08% | |
| 4 | NXE | Nexgen Energy LTD | Stock-Other | 3.18% | +0.45% | — | |
| 5 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 2.72% | +2.72% | NEW | |
| 6 | EWY | Ishares Msci South Korea ETF | ETF-Other | 2.63% | — | +2.63% | |
| 7 | KEYS | Keysight Technologies In | Stock-Tech | 2.48% | — | -38.46% | |
| 8 | WRBY | Warby Parker Inc-class A | Stock-Other | 2.44% | — | — | |
| 9 | SLNOEUR | Soleno Therapeutics INC | Stock-Other | 2.11% | — | +43.79% | |
| 10 | APG | Api Group CORP | Stock-Industrials | 2.00% | — | +20.00% | |
| 11 | CART | Maplebear INC | Stock-Consumer Disc | 1.93% | — | +20.51% | |
| 12 | HWM | Howmet Aerospace INC | Stock-Industrials | 1.77% | — | -12.50% | |
| 13 | MTUM | Ishares Msci USA Momentum Fa | ETF-Other | 1.71% | +1.71% | NEW | |
| 14 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 1.67% | — | +12.50% | |
| 15 | ECG | Everus Construction Group | Stock-Industrials | 1.62% | — | -37.50% | |
| 16 | AHR | American Healthcare Reit INC | Stock-Real Estate | 1.55% | — | +50.00% | |
| 17 | SMH | Vaneck Semiconductor ETF | ETF-Other | 1.47% | — | -30.00% | |
| 18 | ICLN | Ishares Global Clean Energy | ETF-Other | 1.41% | +1.41% | NEW | |
| 19 | OLMA | Olema Pharmaceuticals INC | Stock-Other | 1.40% | -1.43% | -10.34% | |
| 20 | GTX | Garrett Motion INC | Stock-Consumer Disc | 1.40% | +1.40% | NEW | |
| 21 | AER | AerCap Holdings N.V. | Stock-Industrials | 1.36% | +1.36% | NEW | |
| 22 | DAR | Darling Ingredients INC | Stock-Consumer Staples | 1.29% | +1.29% | NEW | |
| 23 | ICLR | ICON Public Limited Company | Stock-Healthcare | 1.28% | — | +108.10% | |
| 24 | BKD | Brookdale Senior Living INC | Stock-Other | 1.28% | +1.28% | NEW | |
| 25 | FLEX | Flex Ltd. | Stock-Tech | 1.26% | — | +84.21% | |
| 26 | BABA | Alibaba Group Holding-sp Adr | Stock-Consumer Disc | 1.24% | -1.81% | -48.57% | |
| 27 | SRAD | Sportradar Group AG | Stock-Other | 1.24% | — | — | |
| 28 | VSEC | Vse CORP | Stock-Industrials | 1.21% | +1.21% | NEW | |
| 29 | HEI | Heico CORP | Stock-Industrials | 1.20% | — | — | |
| 30 | AIR | Aar CORP | Stock-Industrials | 1.20% | +0.81% | +150.00% | |
| 31 | TDY | Teledyne Technologies INC | Stock-Tech | 1.16% | — | -41.67% | |
| 32 | WAY | Waystar Holding CORP | Stock-Other | 1.16% | — | +5.66% | |
| 33 | RAL | Ralliant CORP | Stock-Tech | 1.14% | — | +13.64% | |
| 34 | HOOD | Robinhood Markets INC - A | Stock-Financials | 1.14% | +1.14% | NEW | |
| 35 | CR | Crane Co | Stock-Industrials | 1.13% | +1.13% | NEW | |
| 36 | WELL | Welltower INC | Stock-Real Estate | 1.09% | — | — | |
| 37 | XLF | Ss Financial Select Sector | ETF-Other | 1.08% | +1.08% | NEW | |
| 38 | VICR | Vicor CORP | Stock-Tech | 1.06% | +1.06% | NEW | |
| 39 | ACHC | Acadia Healthcare Co INC | Stock-Other | 1.02% | +1.02% | NEW | |
| 40 | CGNX | Cognex CORP | Stock-Tech | 0.99% | +0.99% | NEW | |
| 41 | GE | General Electric | Stock-Industrials | 0.93% | +0.93% | NEW | |
| 42 | CNL | Collective Mining LTD | Stock-Other | 0.82% | +0.82% | NEW | |
| 43 | ZVRA | Zevra Therapeutics INC | Stock-Other | 0.79% | — | +32.46% | |
| 44 | NU | Nu Holdings Ltd. | Stock-Financials | 0.79% | +0.79% | NEW | |
| 45 | WWW | Wolverine World Wide INC | Stock-Other | 0.78% | — | -33.69% | |
| 46 | GCO | Genesco INC | Stock-Other | 0.78% | +0.78% | NEW | |
| 47 | GXO | Gxo Logistics INC | Stock-Industrials | 0.71% | +0.71% | NEW | |
| 48 | AXON | Axon Enterprise INC | Stock-Industrials | 0.68% | — | +7.41% | |
| 49 | CRDO | Credo Technology Group Holding Ltd | Stock-Tech | 0.67% | +0.67% | NEW | |
| 50 | TVTX | Travere Therapeutics INC | Stock-Other | 0.65% | +0.65% | NEW |
1–50 of 65
Portfolio Performance
Performance for Q3 2026
+7%
Performance Last 4 Quarters
+16.8%
Based on 76% of reported portfolio value with available pricing
- Stdev
- +19.3%
- Beta
- +1.1
- Alpha
- -1.1%
- Max Drawdown
- -17.6%
- Annualized Perf
- +18.9%
- Batting Avg vs S&P
- +58.3%
- Sortino
- +1.8
- Stutzer
- +0.29
- Treynor
- +0.18
- Sterling
- +0.85
- Calmar
- +1.08
- Information Ratio
- +0.06
- Tracking Error
- +12.9%
- Stdev Down
- +10.7%
- Winning Months %
- +58.3%
- Losing Months %
- +41.7%
- Best 12 Months
- +48.7%
- Worst 12 Months
- -9.4%
- Efficiency Ratio
- +0.4
- Sharpe
- +1
- Stdev Sectors
- +13.4%
- Skewness
- -0.13
- Kurtosis
- -0.58
- Upside Potential
- +3.57
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 67 | $911.0M | 100 | |
| 2025-12-31 | 68 | $841.2M | 94 | |
| 2025-09-30 | 77 | $805.7M | 100 | |
| 2025-06-30 | 67 | $742.5M | 0 | |
| 2025-03-31 | 67 | $944.9M | 100 | |
| 2024-12-31 | 70 | $702.0M | 0 | |
| 2024-09-30 | 79 | $901.8M | 0 | |
| 2024-06-30 | 82 | $933.0M | 0 | |
| 2024-03-31 | 83 | $915.8M | 0 | |
| 2023-12-31 | 74 | $799.0M | 0 | |
| 2023-09-30 | 72 | $868.3M | 0 | |
| 2023-06-30 | 79 | $1.1B | 0 | |
| 2023-03-31 | 57 | $531.8M | 0 | |
| 2022-12-31 | 50 | $502.2M | 0 | |
| 2022-09-30 | 60 | $781.8M | 0 | |
| 2022-06-30 | 69 | $589.5M | 0 | |
| 2022-03-31 | 82 | $959.5M | 0 | |
| 2021-12-31 | 77 | $869.6M | 0 | |
| 2021-09-30 | 62 | $822.0M | 0 | |
| 2021-06-30 | 68 | $863.0M | 100 | |
| 2021-03-31 | 62 | $978.9M | 89 | |
| 2020-12-31 | 56 | $924.5M | 73 | |
| 2020-09-30 | 59 | $890.6M | 82 | |
| 2020-06-30 | 54 | $1.1B | 100 | |
| 2020-03-31 | 52 | $546.3M | 100 | |
| 2019-12-31 | 55 | $663.9M | 97 | |
| 2019-09-30 | 61 | $846.6M | 90 | |
| 2019-06-30 | 68 | $1.0B | 100 | |
| 2019-03-31 | 61 | $748.0M | 100 | |
| 2018-12-31 | 59 | $663.1M | 100 | |
| 2018-09-30 | 107 | $1.4B | 80 | |
| 2018-06-30 | 104 | $1.4B | 94 | |
| 2018-03-31 | 106 | $1.3B | 90 | |
| 2017-12-31 | 111 | $1.6B | 94 | |
| 2017-09-30 | 117 | $1.5B | 94 | |
| 2017-06-30 | 99 | $1.5B | 100 | |
| 2017-03-31 | 105 | $1.8B | 100 | |
| 2016-12-31 | 123 | $2.1B | 94 | |
| 2016-09-30 | 116 | $2.2B | 78 | |
| 2016-06-30 | 100 | $1.8B | 100 | |
| 2016-03-31 | 106 | $1.8B | 100 | |
| 2015-12-31 | 114 | $2.1B | 95 | |
| 2015-09-30 | 125 | $2.1B | 89 | |
| 2015-06-30 | 127 | $2.6B | 72 | |
| 2015-03-31 | 147 | $2.4B | 100 | |
| 2014-12-31 | 140 | $2.3B | 0 | |
| 2014-09-30 | 153 | $2.2B | 94 | |
| 2014-06-30 | 176 | $2.6B | 88 | |
| 2014-03-31 | 170 | $2.0B | 95 | |
| 2013-12-31 | 168 | $2.2B | 89 | |
| 2013-09-30 | 177 | $2.0B | 84 | |
| 2013-06-30 | 195 | $1.7B | 0 |
Holding changes this quarter
Kingdon Capital Management, L.l.c.'s most significant position changes for 2026-03-31: New buy: Ss Spdr S&p 500 ETF Trust-us (SPY); Sold out: Ishares Silver Trust (SLV); Sold out: Advanced Micro Devices (AMD); Sold out: Bank Of America CORP (BAC); New buy: Ishares Russell 2000 ETF (IWM).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | AIR | Aar CORP | +0.8% | +150.00% | Add |
| 2 | SNDX | Syndax Pharmaceuticals INC | +0.5% | +6.38% | Add |
| 3 | NXE | Nexgen Energy LTD | +0.5% | — | Unchanged |
| 4 | ALDX | Aldeyra Therapeutics INC | -0.7% | +16.34% | Add |
| 5 | OLMA | Olema Pharmaceuticals INC | -1.4% | -10.34% | Trim |
| 6 | BABA | Alibaba Group Holding-sp Adr | -1.8% | -48.57% | Trim |
| 7 | NVDA | Nvidia CORP | -1.9% | -23.08% | Trim |
| 8 | SPY | Ss Spdr S&p 500 ETF Trust-us | — | NEW | New buy |
| 9 | SLV | Ishares Silver Trust | — | EXIT | Sold out |
| 10 | AMD | Advanced Micro Devices | — | EXIT | Sold out |
| 11 | BAC | Bank Of America CORP | — | EXIT | Sold out |
| 12 | IWM | Ishares Russell 2000 ETF | — | NEW | New buy |
| 13 | TAN | Invesco Solar ETF | — | EXIT | Sold out |
| 14 | CRH | CRH plc | — | EXIT | Sold out |
| 15 | KKR | Kkr & Co INC | — | EXIT | Sold out |
| 16 | MTUM | Ishares Msci USA Momentum Fa | — | NEW | New buy |
| 17 | FWONK | Liberty Media Corp-formula-c | — | EXIT | Sold out |
| 18 | ICLN | Ishares Global Clean Energy | — | NEW | New buy |
| 19 | GTX | Garrett Motion INC | — | NEW | New buy |
| 20 | AER | AerCap Holdings N.V. | — | NEW | New buy |
| 21 | DAR | Darling Ingredients INC | — | NEW | New buy |
| 22 | GOOGL | Alphabet Inc-cl A | — | EXIT | Sold out |
| 23 | BKD | Brookdale Senior Living INC | — | NEW | New buy |
| 24 | TAP | Molson Coors Beverage Co - B | — | EXIT | Sold out |
| 25 | WMT | Walmart INC | — | EXIT | Sold out |
| 26 | VSEC | Vse CORP | — | NEW | New buy |
| 27 | UPST | Upstart Holdings INC | — | EXIT | Sold out |
| 28 | CARR | Carrier Global CORP | — | EXIT | Sold out |
| 29 | HOOD | Robinhood Markets INC - A | — | NEW | New buy |
| 30 | CR | Crane Co | — | NEW | New buy |
| 31 | LOAR | Loar Holdings INC | — | EXIT | Sold out |
| 32 | XLF | Ss Financial Select Sector | — | NEW | New buy |
| 33 | ULS | Ul Solutions INC - Class A | — | EXIT | Sold out |
| 34 | NXPI | NXP Semiconductors N.V. | — | EXIT | Sold out |
| 35 | VICR | Vicor CORP | — | NEW | New buy |
| 36 | ACHC | Acadia Healthcare Co INC | — | NEW | New buy |
| 37 | CGNX | Cognex CORP | — | NEW | New buy |
| 38 | HCI | Hci Group INC | — | EXIT | Sold out |
| 39 | GE | General Electric | — | NEW | New buy |
| 40 | ILMN | Illumina INC | — | EXIT | Sold out |
| 41 | RDNT | Radnet INC | — | EXIT | Sold out |
| 42 | CNL | Collective Mining LTD | — | NEW | New buy |
| 43 | NU | Nu Holdings Ltd. | — | NEW | New buy |
| 44 | GCO | Genesco INC | — | NEW | New buy |
| 45 | ALC | Alcon Inc. | — | EXIT | Sold out |
| 46 | GXO | Gxo Logistics INC | — | NEW | New buy |
| 47 | USFD | US Foods Holding CORP | — | EXIT | Sold out |
| 48 | CRDO | Credo Technology Group Holding Ltd | — | NEW | New buy |
| 49 | TVTX | Travere Therapeutics INC | — | NEW | New buy |
| 50 | FPS | Forgent Power Solutions INC | — | NEW | New buy |
FAQ
What is Kingdon Capital Management, L.l.c. and what type of investor is it?
Kingdon Capital Management, L.l.c. is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $911.0M, spread across 67 disclosed positions.
What are Kingdon Capital Management, L.l.c.'s largest equity positions?
Based on the latest 13F filing, Kingdon Capital Management, L.l.c.'s top holdings by market value are:
1. Ss Spdr S&p 500 ETF Trust-us (SPY) — $185.3M (20.3%)
2. Syndax Pharmaceuticals INC (SNDX) — $58.4M (6.4%)
3. Nvidia CORP (NVDA) — $34.9M (3.8%)
4. Nexgen Energy LTD (NXE) — $29.0M (3.2%)
5. Ishares Russell 2000 ETF (IWM) — $24.8M (2.7%)
What changes did Kingdon Capital Management, L.l.c. make in its most recent portfolio filing?
In the latest reported quarter, Kingdon Capital Management, L.l.c. made 49 notable position adjustments: 23 new positions were initiated, 3 existing holdings were added to, 3 positions were partially reduced, and 20 were completely exited. The largest of these moves: New buy: Ss Spdr S&p 500 ETF Trust-us (SPY); Sold out: Ishares Silver Trust (SLV); Sold out: Advanced Micro Devices (AMD); Sold out: Bank Of America CORP (BAC); New buy: Ishares Russell 2000 ETF (IWM)
What sectors does Kingdon Capital Management, L.l.c. focus on?
Kingdon Capital Management, L.l.c. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 35.8%
• Industrials: 34.0%
• Consumer Discretionary: 12.3%
• Real Estate: 7.1%
• Financials: 4.6%
• Consumer Staples: 3.1%
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