KINGDON CAPITAL MANAGEMENT, L.L.C.

Registered adviser

CIK

1000097

Location

NEW YORK, NY

Portfolio Value

Small $965,828,320

Diversification

Diversified

Filing Date

Global Rank

#2,581 / 8,818 ▼ 103

Top Industry

Biotechnology 14.6%

Period ended 4 months ago

Filed Aug 14, 2026 · 2mo

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 157509

Roster of Oct 1, 2026

Regulatory AUM

$959,762,020

Main clients

Pooled investment vehicles (100% of AUM)

Private funds

8 funds · Hedge funds

Focus by fund count, roster of Oct 1, 2026

$1,690,380,766 gross assets

LEI

9EV9M07GEQXRWF831Q10

Private funds on Schedule D 7.B.(1)

As filed Sep 13, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$1,469,861,378 gross assets in 7 funds Hedge funds $1,469,861,378 (7)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$959,762,020	Pooled investment vehicles (100%)
Apr 2025 to Mar 2026	$861,883,044	Pooled investment vehicles (100%)
Apr 2024 to Mar 2025	$823,482,990	Pooled investment vehicles (100%)
May 2023 to Mar 2024	$815,686,434	Pooled investment vehicles (100%)
Apr 2023	$815,686,434	Pooled investment vehicles (100%)
Apr 2022 to Mar 2023	$1,145,013,599	Pooled investment vehicles (81%)

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Diversified active

Top 10 weight 39.7%, 35.9 effective positions, active share 91.4% against the Russell 1000 as of 2026-06-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

High turnover

137.5% over the last four quarters (100%+)

Horizon

Medium horizon

Value-weighted holding period 4.5 quarters (4 to under 12)

Closest benchmark: the Russell 1000 as of 2026-06-30, active share 91.4%; sector active share 38.3% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

68 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

12.6%

−8.3 pts

Top 5

29.8%

−10.8 pts

Top 10

42.1%

−9.9 pts

HHI

344

Diversified−279

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Healthcare	26.2%	$253,136,540	19
Technology	21.2%	$204,601,045	15
Unclassified	17.4%	$168,085,550	6
Industrials	16.6%	$160,521,785	13
Consumer Cyclical	8.8%	$84,761,450	7
Utilities	2.5%	$23,856,000	1
Energy	2.4%	$23,475,000	1
Real Estate	2.2%	$21,582,000	3
Financial Services	1.7%	$16,266,250	1
Consumer Defensive	0.8%	$7,373,700	1
Basic Materials	0.2%	$2,169,000	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

11 positions

Ticker	Company	Δ Shares	Shares	Value
ALDX	Aldeyra Therapeutics, Inc.	+500,000	2,652,315	$5,649,430
REAL	TheRealReal, Inc.	+413,000	813,000	$9,585,270
OLMA	Olema Pharmaceuticals, Inc.	+345,000	1,200,000	$15,012,000
APG	APi Group Corp	+150,000	600,000	$25,410,000
WRBY	Warby Parker Inc.	+73,000	1,126,644	$34,182,378
WWW	Wolverine World Wide Inc	+49,000	485,000	$8,017,050
NVDA	Nvidia Corp	+40,000	240,000	$48,021,600
CGNX	Cognex Corp	+15,000	200,000	$14,484,000
BABA	Alibaba Group Holding Ltd	+10,000	100,000	$9,598,000
TDY	Teledyne Technologies Inc	+7,500	25,000	$16,672,500
VICR	Vicor Corp	+5,000	25,000	$9,494,500
No positions match the current search.

Trimmed

Positions the filer reduced

17 positions

Ticker	Company	Δ Shares	Shares	Value
SCYX	Scynexis Inc	−1,734,680	247,811	$1,008,590
GTX	Garrett Motion Inc.	−325,000	375,000	$13,586,250
AHR	American Healthcare REIT, Inc.	−125,000	175,000	$9,126,250
RAL	Ralliant Corp	−100,000	150,000	$11,044,500
CART	Maplebear Inc.	−90,000	380,000	$17,993,000
FLEX	Flex Ltd.	−85,000	90,000	$14,586,300
DAR	Darling Ingredients Inc.	−55,000	135,000	$7,373,700
BKD	Brookdale Senior Living Inc.	−50,000	800,000	$12,872,000
AIR	Aar Corp	−47,500	52,500	$7,503,825
CRDO	Credo Technology Group Holding Ltd	−43,500	21,500	$5,846,925
WELL	Welltower Inc.	−25,000	25,000	$5,674,250
AER	AerCap Holdings N.V.	−20,000	70,000	$10,204,600
CR	Crane Co	−20,000	40,000	$8,922,800
KEYS	Keysight Technologies, Inc.	−10,000	70,000	$24,504,900
HEI	Heico Corp	−10,000	30,000	$10,685,700
HWM	Howmet Aerospace Inc.	−10,000	60,000	$16,131,600
VSEC	Vse Corp	−7,500	52,500	$11,996,250
No positions match the current search.

New Positions

Positions the filer opened this quarter

19 positions

Ticker	Company	Shares	Value
GRAL	GRAIL, Inc.	340,000	$23,211,800
HIMS	Hims & Hers Health, Inc.	542,500	$18,808,475
FLNC	Fluence Energy, Inc.	900,000	$17,892,000
ILMN	Illumina, Inc.	97,800	$17,196,174
ISRG	Intuitive Surgical Inc	37,100	$14,753,928
BFLY	Butterfly Network, Inc.	1,700,000	$14,314,000
CYTK	Cytokinetics Inc	157,100	$13,383,349
PWR	Quanta Services, Inc.	16,000	$11,520,640
FDX	Fedex Corp	35,000	$10,959,550
TAN	Invesco Ltd.	175,000	$10,351,250
ITT	Itt Inc.	50,000	$9,888,000
GE	General Electric Co	25,000	$9,343,250
ENTG	Entegris Inc	50,000	$8,993,000
DAL	Delta Air Lines, Inc.	77,000	$7,211,820
LION	Lionsgate Studios Corp.	375,000	$5,741,250
FFIV	F5, Inc.	12,000	$4,991,520
IVA	Inventiva S.A.	1,270,000	$4,800,600
COMP	Compass, Inc.	250,000	$3,082,500
CMPX	Compass Therapeutics, Inc.	1,400,000	$3,066,000
No positions match the current search.

Sold Out

Positions the filer fully exited

14 positions

Ticker	Company	Shares	Value
—		575,000	$19,251,000
ICLN	iShares Global Clean Energy ETF	700,000	$12,803,000
ICLR	Icon PLC	105,300	$11,652,498
SRAD	Sportradar Group AG	674,000	$11,282,760
WAY	Waystar Holding Corp.	438,000	$10,560,180
ACHC	Acadia Healthcare Company, Inc.	396,192	$9,266,930
CNL	Collective Mining Ltd.	425,000	$7,484,250
GXO	GXO Logistics, Inc.	125,000	$6,481,250
AXON	Axon Enterprise, Inc.	14,500	$6,158,005
FPS	Forgent Power Solutions, Inc.	200,000	$5,854,000
LOW	Lowes Companies Inc	21,250	$5,020,950
TTEK	Tetra Tech Inc	100,000	$3,012,000
ITRI	Itron, Inc.	25,000	$2,240,750
EWY	iShares Trust	75,000	$0
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

68 tracked positions · $965,828,320 total · filing declares 74 positions · $976,167,326 · as of Jun 30, 2026

All sectors Basic Materials Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 68 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
SOXX	iShares Semiconductor ETF PUT	NEW	130,000	NEW	$83,298,800	NEW	—	—	8.62%
SNDX	Syndax Pharmaceuticals Inc Healthcare	Held	2,500,000	0	$54,650,000	−6.4%	11	$16.50	5.66%
NVDA	Nvidia Corp Technology	Added	240,000	+40,000	$48,021,600	+37.7%	6	$159.69	4.97%
WRBY	Warby Parker Inc. Healthcare	Added	1,126,644	+73,000	$34,182,378	+54.0%	4	$23.04	3.54%
KEYS	Keysight Technologies, Inc. PUT + SHARES Technology	Added	85,000	+5,000	$29,755,950	+31.7%	3	$185.56	3.08%
APG	APi Group Corp Industrials	Added	600,000	+150,000	$25,410,000	+39.4%	6	$32.87	2.63%
FLNC	Fluence Energy, Inc. PUT + SHARES Utilities	NEW	1,200,000	NEW	$23,856,000	NEW	1	$18.60	2.47%
NXE	NexGen Energy Ltd. Energy	Held	2,500,000	0	$23,475,000	−19.1%	11	$6.70	2.43%
EWY	iShares Trust PUT	Reduced	115,000	-80,000	$23,218,500	—	—	—	2.40%
GRAL	GRAIL, Inc. Healthcare	NEW	340,000	NEW	$23,211,800	NEW	1	$58.88	2.40%
QQQ	Invesco Qqq Trust, Series 1 PUT	NEW	30,000	NEW	$22,092,000	NEW	—	—	2.29%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Held	45,000	0	$21,490,650	+41.3%	10	$156.86	2.23%
ECG	Everus Construction Group, Inc. Industrials	Held	125,000	0	$20,743,750	+40.6%	7	$62.93	2.15%
BABA	Alibaba Group Holding Ltd PUT + SHARES Consumer Cyclical	Added	200,000	+110,000	$19,196,000	+70.0%	3	$159.10	1.99%
HIMS	Hims & Hers Health, Inc. Healthcare	NEW	542,500	NEW	$18,808,475	NEW	1	$26.84	1.95%
KRE	State Street(R) SPDR(R) S&P(R) Regional Banking ETF CALL	NEW	250,000	NEW	$18,712,500	NEW	—	—	1.94%
CART	Maplebear Inc. Consumer Cyclical	Reduced	380,000	-90,000	$17,993,000	+2.2%	7	$43.08	1.86%
ILMN	Illumina, Inc. Healthcare	NEW	97,800	NEW	$17,196,174	NEW	1	$146.41	1.78%
TDY	Teledyne Technologies Inc Technology	Added	25,000	+7,500	$16,672,500	+57.5%	4	$565.05	1.73%
TAN	Invesco Ltd. CALL + SHARES Financial Services	NEW	275,000	NEW	$16,266,250	NEW	1	$60.73	1.68%
HWM	Howmet Aerospace Inc. Industrials	Reduced	60,000	-10,000	$16,131,600	−0.0%	4	$187.51	1.67%
IWM	iShares Russell 2000 ETF PUT	Reduced	50,000	-50,000	$15,022,500	−39.4%	—	—	1.56%
OLMA	Olema Pharmaceuticals, Inc. Healthcare	Added	1,200,000	+345,000	$15,012,000	+17.8%	4	$9.01	1.55%
ISRG	Intuitive Surgical Inc Healthcare	NEW	37,100	NEW	$14,753,928	NEW	1	$436.89	1.53%
FLEX	Flex Ltd. Technology	Reduced	90,000	-85,000	$14,586,300	+27.3%	14	$40.83	1.51%
CGNX	Cognex Corp Technology	Added	200,000	+15,000	$14,484,000	+59.8%	2	$47.73	1.50%
BFLY	Butterfly Network, Inc. Healthcare	NEW	1,700,000	NEW	$14,314,000	NEW	1	$5.18	1.48%
GTX	Garrett Motion Inc. Consumer Cyclical	Reduced	375,000	-325,000	$13,586,250	+6.8%	2	$18.66	1.41%
CYTK	Cytokinetics Inc Healthcare	NEW	157,100	NEW	$13,383,349	NEW	1	$71.80	1.39%
BKD	Brookdale Senior Living Inc. Healthcare	Reduced	800,000	-50,000	$12,872,000	+10.7%	2	$14.01	1.33%
VSEC	Vse Corp Industrials	Reduced	52,500	-7,500	$11,996,250	+8.4%	2	$203.58	1.24%
PWR	Quanta Services, Inc. Industrials	NEW	16,000	NEW	$11,520,640	NEW	1	$683.53	1.19%
ZVRA	Zevra Therapeutics, Inc. Healthcare	Held	775,000	0	$11,113,500	+53.9%	5	$8.78	1.15%
RAL	Ralliant Corp Technology	Reduced	150,000	-100,000	$11,044,500	+6.2%	4	$44.77	1.14%
FDX	Fedex Corp Industrials	NEW	35,000	NEW	$10,959,550	NEW	1	unpriced	1.13%
HEI	Heico Corp Industrials	Reduced	30,000	-10,000	$10,685,700	−2.6%	14	$182.23	1.11%
AER	AerCap Holdings N.V. Industrials	Reduced	70,000	-20,000	$10,204,600	−17.3%	2	$143.01	1.06%
ITT	Itt Inc. Industrials	NEW	50,000	NEW	$9,888,000	NEW	1	$202.20	1.02%
REAL	TheRealReal, Inc. Consumer Cyclical	Added	813,000	+413,000	$9,585,270	+163.9%	2	$11.64	0.99%
VICR	Vicor Corp Technology	Reduced	25,000	-35,000	$9,494,500	−1.7%	2	$186.82	0.98%
GE	General Electric Co Industrials	Reduced	25,000	-5,000	$9,343,250	+9.8%	1	$313.08	0.97%
AHR	American Healthcare REIT, Inc. Real Estate	Reduced	175,000	-125,000	$9,126,250	−35.5%	3	$47.44	0.94%
ENTG	Entegris Inc Technology	NEW	50,000	NEW	$8,993,000	NEW	1	$144.21	0.93%
CR	Crane Co Industrials	Reduced	40,000	-20,000	$8,922,800	−13.0%	2	$192.01	0.92%
GCO	Genesco Inc Consumer Cyclical	Held	244,000	0	$8,239,880	+16.5%	2	$28.76	0.85%
DHI	Horton D R Inc PUT Consumer Cyclical	NEW	50,000	NEW	$8,144,000	NEW	—	—	0.84%
WWW	Wolverine World Wide Inc Consumer Cyclical	Added	485,000	+49,000	$8,017,050	+12.7%	8	$19.18	0.83%
AIR	Aar Corp Industrials	Reduced	52,500	-47,500	$7,503,825	−31.4%	3	$97.64	0.78%
DAR	Darling Ingredients Inc. Consumer Defensive	Reduced	135,000	-55,000	$7,373,700	−37.3%	2	$49.25	0.76%
DAL	Delta Air Lines, Inc. Industrials	NEW	77,000	NEW	$7,211,820	NEW	1	$75.49	0.75%

Showing the top 50 of 68 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.