KINGDON CAPITAL MANAGEMENT, L.L.C.

CIK

1000097

Location

NEW YORK, NY

Portfolio Value

Micro $11,737,500

Diversification

Diversified

Filing Date

Global Rank

#1,917 / 8,420 ▲ 207

Top Industry

Biotechnology 15.2%

3Y Alpha vs SPY

+10.3%

Period ended 5 months ago

Filed Feb 17, 2026 · 4mo

24 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

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

Cloned portfolio

+125.6%

SPY

+76.5%

Annualised alpha

+10.3%

Max drawdown

−27.9%

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

57 positions · as of Dec 31, 2025 · Δ vs Sep 30, 2025

Top Position

7.1%

+0.1 pts

Top 5

27.0%

+5.8 pts

Top 10

42.7%

+8.3 pts

HHI

295

Diversified+60

Portfolio Trend

24 quarters · across all stocks

Sector Breakdown

As of Dec 31, 2025

Sector	% Portfolio	Value	Positions
Technology	24.6%	$189,328,260	13
Healthcare	23.7%	$182,444,346	13
Industrials	14.7%	$113,016,745	12
Financial Services	8.5%	$65,652,150	5
Consumer Cyclical	7.2%	$55,127,325	3
Unclassified	7.1%	$54,757,000	1
Consumer Defensive	3.7%	$28,755,736	3
Basic Materials	3.4%	$25,892,664	3
Energy	3.0%	$23,000,000	1
Real Estate	2.4%	$18,692,500	2
Communication Services	1.5%	$11,737,500	1

Last Quarter's Activity

Export CSV

Dec 31, 2025 vs Sep 30, 2025

Added To

Positions the filer increased

14 positions

Ticker	Company	Δ Shares	Shares	Value
WRBY	Warby Parker Inc.	+703,644	1,053,644	$22,958,902
WWW	Wolverine World Wide Inc /De/	+528,000	657,500	$11,933,625
ALDX	Aldeyra Therapeutics, Inc.	+518,209	1,850,000	$9,583,000
NXE	NexGen Energy Ltd.	+322,163	2,500,000	$23,000,000
SRAD	Sportradar Group AG	+200,000	674,000	$16,020,980
NVDA	Nvidia Corp	+142,500	260,000	$48,490,000
OLMA	Olema Pharmaceuticals, Inc.	+99,600	953,600	$23,840,000
SLNO	Soleno Therapeutics Inc	+98,900	399,900	$18,515,370
APG	APi Group Corp	+50,000	375,000	$14,347,500
ALC	Alcon Inc	+30,980	88,480	$6,973,108
HWM	Howmet Aerospace Inc.	+25,000	80,000	$16,401,600
TDY	Teledyne Technologies Inc	+15,000	30,000	$15,321,900
GOOGL	Alphabet Inc.	+7,500	37,500	$11,737,500
AXON	Axon Enterprise, Inc.	+3,500	13,500	$7,667,055
No positions match the current search.

Trimmed

Positions the filer reduced

13 positions

Ticker	Company	Δ Shares	Shares	Value
PCT	PureCycle Technologies, Inc.	−353,000	200,000	$1,718,000
SNDX	Syndax Pharmaceuticals Inc	−150,000	2,350,000	$49,373,500
FLEX	Flex Ltd.	−80,000	95,000	$5,739,900
ZVRA	Zevra Therapeutics, Inc.	−64,931	585,069	$5,242,218
CART	Maplebear Inc.	−60,000	390,000	$17,542,200
HCI	HCI Group, Inc.	−47,500	45,000	$8,626,050
KKR	KKR & Co. Inc.	−40,000	125,000	$15,935,000
WDC	Western Digital Corp	−30,000	30,000	$5,168,100
TTEK	Tetra Tech Inc	−25,000	150,000	$5,031,000
CW	Curtiss Wright Corp	−10,500	7,000	$3,858,890
WELL	Welltower Inc.	−10,000	50,000	$9,280,500
TSM	Taiwan Semiconductor Manufacturing Co Ltd	−2,500	40,000	$12,155,600
NXPI	NXP Semiconductors N.V.	−2,500	45,000	$9,767,700
No positions match the current search.

New Positions

Positions the filer opened this quarter

20 positions

Ticker	Company	Shares	Value
SLV	iShares Silver Trust	850,000	$54,757,000
AMD	Advanced Micro Devices Inc	132,500	$28,376,200
KEYS	Keysight Technologies, Inc.	130,000	$26,414,700
BABA	Alibaba Group Holding Ltd	175,000	$25,651,500
BAC	Bank Of America Corp /De/	465,000	$25,575,000
WAY	Waystar Holding Corp.	414,549	$13,576,479
UPST	Upstart Holdings, Inc.	250,000	$10,932,500
CARR	CARRIER GLOBAL Corp	200,000	$10,568,000
AHR	American Healthcare REIT, Inc.	200,000	$9,412,000
ICLR	Icon PLC	50,600	$9,220,332
ILMN	Illumina, Inc.	62,700	$8,223,732
RDNT	RadNet, Inc.	110,000	$7,848,500
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
OKTA	Okta, Inc.	55,000	$4,755,850
CCB	Coastal Financial Corp	40,000	$4,583,600
AIR	Aar Corp	40,000	$3,311,600
ELDN	Eledon Pharmaceuticals, Inc.	1,039,275	$1,569,305
INFY	Infosys Ltd	71,500	$1,274,130
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
QQQ	Invesco Qqq Trust, Series 1	85,000	$51,031,450
MOH	Molina Healthcare, Inc.	110,200	$21,087,872
EW	Edwards Lifesciences Corp	251,400	$19,551,378
HUM	Humana Inc	70,600	$18,368,002
BLDR	Builders FirstSource, Inc.	150,000	$18,187,500
GMED	Globus Medical Inc	257,650	$14,755,615
MSFT	Microsoft Corp	27,500	$14,243,625
META	Meta Platforms, Inc.	16,000	$11,750,080
SKY	Champion Homes, Inc.	150,000	$11,455,500
ETR	Entergy Corp /De/	115,000	$10,716,850
BX	Blackstone Inc.	60,000	$10,251,000
PANW	Palo Alto Networks Inc	45,000	$9,162,900
MIR	Mirion Technologies, Inc.	375,000	$8,722,500
ICE	Intercontinental Exchange, Inc.	50,000	$8,424,000
CNM	Core & Main, Inc.	150,000	$8,074,500
GLW	Corning Inc /Ny	80,000	$6,562,400
GEV	GE Vernova Inc.	10,000	$6,149,000
HD	Home Depot, Inc.	14,300	$5,794,217
ORCL	Oracle Corp	20,000	$5,624,800
LOW	Lowes Companies Inc	22,250	$5,591,647
SYF	Synchrony Financial	75,000	$5,328,750
IOT	Samsara Inc.	100,000	$3,725,000
XFOR	X4 Pharmaceuticals, Inc	933,332	$3,191,995
JSPR	Jasper Therapeutics, Inc.	1,324,845	$3,153,131
GEG	Great Elm Group, Inc.	1,168,907	$2,863,822
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

1 positions · $11,737,500 total · Communication Services only · as of Dec 31, 2025

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

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio	History
GOOGL	Alphabet Inc. Communication Services	Added	37,500	+7,500	$11,737,500	+60.9%	100.00%