KINGDON CAPITAL MANAGEMENT, L.L.C.

CIK

1000097

Location

NEW YORK, NY

Portfolio Value

Small $833,235,294

Diversification

Diversified

Filing Date

Global Rank

#1,956 / 8,603 ▲ 144 · as of Mar 2026

Top Industry

Biotechnology 17.2%

3Y Alpha vs SPY

+0.5%

Period ended 3 months ago

Filed May 15, 2026 · 55d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+63.6%

SPY

+76.5%

Annualised alpha

-3.0%

Max drawdown

−29.0%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

59 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

22.2%

+15.1 pts

Top 5

39.6%

+12.6 pts

Top 10

50.8%

+8.1 pts

HHI

666

Diversified+371

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Healthcare	23.0%	$191,804,674	15
Unclassified	22.2%	$185,346,900	1
Technology	18.9%	$157,614,085	13
Industrials	16.2%	$134,726,255	13
Consumer Cyclical	7.7%	$64,458,630	7
Energy	3.5%	$29,000,000	1
Real Estate	3.2%	$26,957,500	3
Financial Services	2.7%	$22,084,500	3
Consumer Defensive	1.4%	$11,751,500	1
Basic Materials	1.1%	$9,491,250	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

15 positions

Ticker	Company	Δ Shares	Shares	Value
ALDX	Aldeyra Therapeutics, Inc.	+302,315	2,152,315	$3,637,412
ZVRA	Zevra Therapeutics, Inc.	+189,931	775,000	$7,223,000
SLNO	Soleno Therapeutics Inc	+175,100	575,000	$19,251,000
SNDX	Syndax Pharmaceuticals Inc	+150,000	2,500,000	$58,400,000
NB	Niocorp Developments Ltd	+135,535	450,000	$2,007,000
AHR	American Healthcare REIT, Inc.	+100,000	300,000	$14,148,000
CART	Maplebear Inc.	+80,000	470,000	$17,606,200
FLEX	Flex Ltd.	+80,000	175,000	$11,455,500
APG	APi Group Corp	+75,000	450,000	$18,234,000
AIR	Aar Corp	+60,000	100,000	$10,946,000
ICLR	Icon PLC	+54,700	105,300	$11,652,498
RAL	Ralliant Corp	+30,000	250,000	$10,397,500
WAY	Waystar Holding Corp.	+23,451	438,000	$10,560,180
TSM	Taiwan Semiconductor Manufacturing Co Ltd	+5,000	45,000	$15,207,750
AXON	Axon Enterprise, Inc.	+1,000	14,500	$6,158,005
No positions match the current search.

Trimmed

Positions the filer reduced

10 positions

Ticker	Company	Δ Shares	Shares	Value
WWW	Wolverine World Wide Inc /De/	−221,500	436,000	$7,115,520
OLMA	Olema Pharmaceuticals, Inc.	−98,600	855,000	$12,748,050
BABA	Alibaba Group Holding Ltd	−85,000	90,000	$11,291,400
ECG	Everus Construction Group, Inc.	−75,000	125,000	$14,757,500
NVDA	Nvidia Corp	−60,000	200,000	$34,880,000
KEYS	Keysight Technologies, Inc.	−50,000	80,000	$22,589,600
TTEK	Tetra Tech Inc	−50,000	100,000	$3,012,000
ITRI	Itron, Inc.	−25,000	25,000	$2,240,750
TDY	Teledyne Technologies Inc	−12,500	17,500	$10,587,675
HWM	Howmet Aerospace Inc.	−10,000	70,000	$16,132,200
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
SPY	Spdr S&P 500 ETF Trust	285,000	$185,346,900
SCYX	Scynexis Inc	1,982,491	$14,543,553
GTX	Garrett Motion Inc.	700,000	$12,719,000
AER	AerCap Holdings N.V.	90,000	$12,346,200
DAR	Darling Ingredients Inc.	190,000	$11,751,500
BKD	Brookdale Senior Living Inc.	850,000	$11,628,000
VSEC	Vse Corp	60,000	$11,064,000
ALIT	Alight, Inc. / Delaware	900,000	$10,488,600
HOOD	Robinhood Markets, Inc.	150,000	$10,395,000
CR	Crane Co	60,000	$10,260,000
VICR	Vicor Corp	60,000	$9,660,000
ACHC	Acadia Healthcare Company, Inc.	396,192	$9,266,930
CGNX	Cognex Corp	185,000	$9,063,150
GE	General Electric Co	30,000	$8,513,100
CNL	Collective Mining Ltd.	425,000	$7,484,250
NU	Nu Holdings Ltd.	500,000	$7,185,000
GCO	Genesco Inc	244,000	$7,073,560
GXO	GXO Logistics, Inc.	125,000	$6,481,250
CRDO	Credo Technology Group Holding Ltd	65,000	$6,101,550
TVTX	Travere Therapeutics, Inc.	200,000	$5,942,000
FPS	Forgent Power Solutions, Inc.	200,000	$5,854,000
LOW	Lowes Companies Inc	21,250	$5,020,950
ETOR	eToro Group Ltd.	150,000	$4,504,500
NOW	ServiceNow, Inc.	35,000	$3,659,250
REAL	TheRealReal, Inc.	400,000	$3,632,000
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
SLV	iShares Silver Trust	850,000	$54,757,000
AMD	Advanced Micro Devices Inc	132,500	$28,376,200
BAC	Bank Of America Corp /De/	465,000	$25,575,000
CRH	Crh Public Ltd Co	150,000	$18,720,000
KKR	KKR & Co. Inc.	125,000	$15,935,000
GOOGL	Alphabet Inc.	37,500	$11,737,500
TAP	Molson Coors Beverage Co	240,200	$11,212,536
WMT	Walmart Inc.	100,000	$11,141,000
UPST	Upstart Holdings, Inc.	250,000	$10,932,500
CARR	CARRIER GLOBAL Corp	200,000	$10,568,000
LOAR	Loar Holdings Inc.	150,000	$10,200,000
ULS	UL Solutions Inc.	125,000	$9,857,500
NXPI	NXP Semiconductors N.V.	45,000	$9,767,700
HCI	HCI Group, Inc.	45,000	$8,626,050
ILMN	Illumina, Inc.	62,700	$8,223,732
RDNT	RadNet, Inc.	110,000	$7,848,500
ALC	Alcon Inc	88,480	$6,973,108
USFD	US Foods Holding Corp.	85,000	$6,402,200
HIMS	Hims & Hers Health, Inc.	170,000	$5,519,900
PRM	Perimeter Solutions, Inc.	200,000	$5,506,000
WDC	Western Digital Corp	30,000	$5,168,100
OKTA	Okta, Inc.	55,000	$4,755,850
CCB	Coastal Financial Corp	40,000	$4,583,600
CW	Curtiss Wright Corp	7,000	$3,858,890
PCT	PureCycle Technologies, Inc.	200,000	$1,718,000
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

59 positions · $833,235,294 total · as of Mar 31, 2026

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

Showing 1–50 of 59 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
SPY	Spdr S&P 500 ETF Trust	NEW	285,000	NEW	$185,346,900	NEW	22.24%
SNDX	Syndax Pharmaceuticals Inc Healthcare	Added	2,500,000	+150,000	$58,400,000	+18.3%	7.01%
NVDA	Nvidia Corp Technology	Reduced	200,000	-60,000	$34,880,000	−28.1%	4.19%
NXE	NexGen Energy Ltd. Energy	Held	2,500,000	0	$29,000,000	+26.1%	3.48%
KEYS	Keysight Technologies, Inc. Technology	Reduced	80,000	-50,000	$22,589,600	−14.5%	2.71%
WRBY	Warby Parker Inc. Healthcare	Held	1,053,644	0	$22,200,279	−3.3%	2.66%
SLNO	Soleno Therapeutics Inc Healthcare	Added	575,000	+175,100	$19,251,000	+4.0%	2.31%
APG	APi Group Corp Industrials	Added	450,000	+75,000	$18,234,000	+27.1%	2.19%
CART	Maplebear Inc. Consumer Cyclical	Added	470,000	+80,000	$17,606,200	+0.4%	2.11%
HWM	Howmet Aerospace Inc. Industrials	Reduced	70,000	-10,000	$16,132,200	−1.6%	1.94%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Added	45,000	+5,000	$15,207,750	+25.1%	1.83%
ECG	Everus Construction Group, Inc. Industrials	Reduced	125,000	-75,000	$14,757,500	−13.8%	1.77%
SCYX	Scynexis Inc Healthcare	NEW	1,982,491	NEW	$14,543,553	NEW	1.75%
AHR	American Healthcare REIT, Inc. Real Estate	Added	300,000	+100,000	$14,148,000	+50.3%	1.70%
OLMA	Olema Pharmaceuticals, Inc. Healthcare	Reduced	855,000	-98,600	$12,748,050	−46.5%	1.53%
GTX	Garrett Motion Inc. Consumer Cyclical	NEW	700,000	NEW	$12,719,000	NEW	1.53%
AER	AerCap Holdings N.V. Industrials	NEW	90,000	NEW	$12,346,200	NEW	1.48%
DAR	Darling Ingredients Inc. Consumer Defensive	NEW	190,000	NEW	$11,751,500	NEW	1.41%
ICLR	Icon PLC Healthcare	Added	105,300	+54,700	$11,652,498	+26.4%	1.40%
BKD	Brookdale Senior Living Inc. Healthcare	NEW	850,000	NEW	$11,628,000	NEW	1.40%
FLEX	Flex Ltd. Technology	Added	175,000	+80,000	$11,455,500	+99.6%	1.37%
BABA	Alibaba Group Holding Ltd Consumer Cyclical	Reduced	90,000	-85,000	$11,291,400	−56.0%	1.36%
SRAD	Sportradar Group AG Technology	Held	674,000	0	$11,282,760	−29.6%	1.35%
VSEC	Vse Corp Industrials	NEW	60,000	NEW	$11,064,000	NEW	1.33%
HEI	Heico Corp Industrials	Held	40,000	0	$10,968,000	−15.3%	1.32%
AIR	Aar Corp Industrials	Added	100,000	+60,000	$10,946,000	+230.5%	1.31%
TDY	Teledyne Technologies Inc Technology	Reduced	17,500	-12,500	$10,587,675	−30.9%	1.27%
WAY	Waystar Holding Corp. Healthcare	Added	438,000	+23,451	$10,560,180	−22.2%	1.27%
ALIT	Alight, Inc. / Delaware Technology	NEW	900,000	NEW	$10,488,600	NEW	1.26%
RAL	Ralliant Corp Technology	Added	250,000	+30,000	$10,397,500	−7.2%	1.25%
HOOD	Robinhood Markets, Inc. Financial Services	NEW	150,000	NEW	$10,395,000	NEW	1.25%
CR	Crane Co Industrials	NEW	60,000	NEW	$10,260,000	NEW	1.23%
WELL	Welltower Inc. Real Estate	Held	50,000	0	$9,885,500	+6.5%	1.19%
VICR	Vicor Corp Technology	NEW	60,000	NEW	$9,660,000	NEW	1.16%
ACHC	Acadia Healthcare Company, Inc. Healthcare	NEW	396,192	NEW	$9,266,930	NEW	1.11%
CGNX	Cognex Corp Technology	NEW	185,000	NEW	$9,063,150	NEW	1.09%
GE	General Electric Co Industrials	NEW	30,000	NEW	$8,513,100	NEW	1.02%
CNL	Collective Mining Ltd. Basic Materials	NEW	425,000	NEW	$7,484,250	NEW	0.90%
ZVRA	Zevra Therapeutics, Inc. Healthcare	Added	775,000	+189,931	$7,223,000	+37.8%	0.87%
NU	Nu Holdings Ltd. Financial Services	NEW	500,000	NEW	$7,185,000	NEW	0.86%
WWW	Wolverine World Wide Inc /De/ Consumer Cyclical	Reduced	436,000	-221,500	$7,115,520	−40.4%	0.85%
GCO	Genesco Inc Consumer Cyclical	NEW	244,000	NEW	$7,073,560	NEW	0.85%
GXO	GXO Logistics, Inc. Industrials	NEW	125,000	NEW	$6,481,250	NEW	0.78%
AXON	Axon Enterprise, Inc. Industrials	Added	14,500	+1,000	$6,158,005	−19.7%	0.74%
CRDO	Credo Technology Group Holding Ltd Technology	NEW	65,000	NEW	$6,101,550	NEW	0.73%
TVTX	Travere Therapeutics, Inc. Healthcare	NEW	200,000	NEW	$5,942,000	NEW	0.71%
FPS	Forgent Power Solutions, Inc. Industrials	NEW	200,000	NEW	$5,854,000	NEW	0.70%
LOW	Lowes Companies Inc Consumer Cyclical	NEW	21,250	NEW	$5,020,950	NEW	0.60%
ETOR	eToro Group Ltd. Financial Services	NEW	150,000	NEW	$4,504,500	NEW	0.54%
NOW	ServiceNow, Inc. Technology	NEW	35,000	NEW	$3,659,250	NEW	0.44%