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Asset Manager ← All Institutions

KINGDON CAPITAL MANAGEMENT, L.L.C.

Q4 2025 · Filed 2026-02-17
Market Value
$614M
+1.6%
Holdings
77
+1
New Purchases
17
Added To
14
Closed
24
Reduced
13
Top 10 Concentration
39.5%
Turnover
53.2%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
KEYS 4.30% 0.00% +4.30% $26M
OLMA 3.88% 1.38% +2.50% $24M
AMD 2.44% 0.00% +2.44% $15M
BABA 2.39% 0.00% +2.39% $15M
WAY 2.21% 0.00% +2.21% $14M
WRBY 3.74% 1.60% +2.14% $23M
CARR 1.72% 0.00% +1.72% $11M
SNDX 8.04% 6.37% +1.68% $49M
AHR 1.53% 0.00% +1.53% $9M
ICLR 1.50% 0.00% +1.50% $9M
BAC 1.48% 0.00% +1.48% $9M
WWW 1.94% 0.59% +1.36% $12M
ILMN 1.34% 0.00% +1.34% $8M
RDNT 1.28% 0.00% +1.28% $8M
USFD 1.04% 0.00% +1.04% $6M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MOH 0.00% 3.49% -3.49% $0
EW 0.00% 3.24% -3.24% $0
HUM 0.00% 3.04% -3.04% $0
BLDR 0.00% 3.01% -3.01% $0
GMED 0.00% 2.44% -2.44% $0
MSFT 0.00% 2.36% -2.36% $0
META 0.00% 1.94% -1.94% $0
SKY 0.00% 1.90% -1.90% $0
ETR 0.00% 1.77% -1.77% $0
PANW 0.00% 1.52% -1.52% $0
MIR 0.00% 1.44% -1.44% $0
ICE 0.00% 1.39% -1.39% $0
CNM 0.00% 1.34% -1.34% $0
GLW 0.00% 1.09% -1.09% $0
HD 0.00% 0.96% -0.96% $0

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 10 $101M 16.4%
Large Cap 30 $204M 33.2%
Mid Cap 24 $198M 32.3%
Small Cap 7 $100M 16.3%
Micro Cap 6 $12M 1.9%

Portfolio Analytics

Avg Market Cap
$278.1B
Median Market Cap
$13.8B
Avg P/E
44.4
Median P/E
30.1
Avg Dividend Yield
0.00%
Avg Beta
1.21
# Stocks
75
# ETFs / Funds
2

Top Holdings (77 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 SNDX 8.04% 2,350,000 $49M $21.01 $11M -150,000 -6.0%
2 NVDA 4.40% 145,000 $27M $186.50 $5M +27,500 +23.4%
3 KEYS 4.30% 130,000 $26M $203.19 +130,000 NEW
4 OLMA 3.88% 953,600 $24M $25.00 $15M +99,600 +11.7%
5 NXE 3.75% 2,500,000 $23M $9.20 $4M +322,163 +14.8%
6 WRBY 3.74% 1,053,644 $23M $21.79 $13M +703,644 +201.0%
7 CRH.L 3.05% 150,000 $19M $124.80 $735K
8 CART 2.86% 390,000 $18M $44.98 $1M -60,000 -13.3%
9 ECG 2.79% 200,000 $17M $85.56 -$38K
10 HWM 2.67% 80,000 $16M $205.02 $6M +25,000 +45.5%
11 SRAD 2.61% 674,000 $16M $23.77 $3M +200,000 +42.2%
12 TDY 2.50% 30,000 $15M $510.73 $7M +15,000 +100.0%
13 AMD 2.44% 70,000 $15M $214.16 +70,000 NEW
14 BABA 2.39% 100,000 $15M $146.58 +100,000 NEW
15 APG 2.34% 375,000 $14M $38.26 $3M +50,000 +15.4%
16 WAY 2.21% 414,549 $14M $32.75 +414,549 NEW
17 HEI 2.11% 40,000 $13M $323.59 $31K
18 TSM 1.98% 40,000 $12M $303.89 $286K -2,500 -5.9%
19 WWW 1.94% 657,500 $12M $18.15 $8M +528,000 +407.7%
20 GOOGL 1.91% 37,500 $12M $313.00 $4M +7,500 +25.0%
21 TAP 1.83% 240,200 $11M $46.68 $343K
22 RAL 1.82% 220,000 $11M $50.91 $2M
23 EWY 1.82% 115,000 $11M $97.22 $367K -20,000 -14.8%
24 WMT 1.81% 100,000 $11M $111.41 $835K
25 CARR 1.72% 200,000 $11M $52.84 +200,000 NEW
26 LOAR 1.66% 150,000 $10M $68.00 -$2M
27 ULS 1.61% 125,000 $10M $78.86 $1M
28 NXPI 1.59% 45,000 $10M $217.06 -$1M -2,500 -5.3%
29 ALDX 1.56% 1,850,000 $10M $5.18 $3M +518,209 +38.9%
30 AHR 1.53% 200,000 $9M $47.06 +200,000 NEW
31 WELL 1.51% 50,000 $9M $185.61 -$1M -10,000 -16.7%
32 ICLR 1.50% 50,600 $9M $182.22 +50,600 NEW
33 BAC 1.48% 165,000 $9M $55.00 +165,000 NEW
34 HCI 1.40% 45,000 $9M $191.69 $469K +2,500 +5.9%
35 ILMN 1.34% 62,700 $8M $131.16 +62,700 NEW
36 RDNT 1.28% 110,000 $8M $71.35 +110,000 NEW
37 AXON 1.25% 13,500 $8M $567.93 $491K +3,500 +35.0%
38 ALC 1.14% 88,480 $7M $78.81 $3M +30,980 +53.9%
39 USFD 1.04% 85,000 $6M $75.32 +85,000 NEW
40 FLEX 0.93% 95,000 $6M $60.42 -$4M -80,000 -45.7%
41 HIMS 0.90% 170,000 $6M $32.47 +170,000 NEW
42 ZVRA 0.85% 585,069 $5M $8.96 -$939K -64,931 -10.0%
43 WDC 0.84% 30,000 $5M $172.27 -$2M -30,000 -50.0%
44 TTEK 0.82% 150,000 $5M $33.54 -$810K -25,000 -14.3%
45 TAN 0.80% 100,000 $5M $49.12 +100,000 NEW
46 OKTA 0.77% 55,000 $5M $86.47 +55,000 NEW
47 ITRI 0.76% 50,000 $5M $92.86 -$2M
48 CCB 0.75% 40,000 $5M $114.59 +40,000 NEW
49 CW 0.63% 7,000 $4M $551.27 -$6M -10,500 -60.0%
50 AIR 0.54% 40,000 $3M $82.79 +40,000 NEW
51 PCT 0.28% 200,000 $2M $8.59 -$6M -353,000 -63.8%
52 ELDN 0.26% 1,039,275 $2M $1.51 +1,039,275 NEW
53 NVNO 0.07% 1,265,845 $406K $0.32 -$826K -93,416 -6.9%
54 LOW —% -$6M -22,250 -100.0% SOLD
55 GEGGL —% -$3M -1,168,907 -100.0% SOLD
56 MOH —% -$21M -110,200 -100.0% SOLD
57 HD —% -$6M -14,300 -100.0% SOLD
58 MIR —% -$9M -375,000 -100.0% SOLD
59 XAIR —% -$108K -46,833 -100.0% SOLD
60 META —% -$12M -16,000 -100.0% SOLD
61 ETR —% -$11M -115,000 -100.0% SOLD
62 BN —% -$4M -60,000 -100.0% SOLD
63 CNM —% -$8M -150,000 -100.0% SOLD
64 XFOR —% -$3M -933,332 -100.0% SOLD
65 EW —% -$20M -251,400 -100.0% SOLD
66 PSN —% -$829K -10,000 -100.0% SOLD
67 MSFT —% -$14M -27,500 -100.0% SOLD
68 ICE —% -$8M -50,000 -100.0% SOLD
69 BLDR —% -$18M -150,000 -100.0% SOLD
70 CVNA —% -$943K -2,500 -100.0% SOLD
71 SKY —% -$11M -150,000 -100.0% SOLD
72 GMED —% -$15M -257,650 -100.0% SOLD
73 SCYX —% -$2M -2,237,048 -100.0% SOLD
74 PANW —% -$9M -45,000 -100.0% SOLD
75 KKR —% -$5M -40,000 -100.0% SOLD
76 GLW —% -$7M -80,000 -100.0% SOLD
77 HUM —% -$18M -70,600 -100.0% SOLD

Options Breakdown

8 Calls $61M Call Value 13 Puts $127M Put Value 2.1 P/C Ratio

Top Calls

SymbolSharesValueStatus
TAN 350,000 $17M NEW
BAC 300,000 $16M NEW
KKR 125,000 $16M
UPST 250,000 $11M NEW
IOT $0 SOLD
MLTX $0 SOLD
HCI $0 SOLD
ORCL $0 SOLD

Top Puts

SymbolSharesValueStatus
SLV 850,000 $55M NEW
NVDA 115,000 $21M NEW
SMH 50,000 $18M
AMD 62,500 $13M NEW
BABA 75,000 $11M NEW
EWY 75,000 $7M
INFY 71,500 $1M NEW
ITB $0 SOLD
XLU $0 SOLD
GEV $0 SOLD

New Positions

SymbolValue% Port
KEYS $26M 4.30%
AMD $15M 2.44%
BABA $15M 2.39%
WAY $14M 2.21%
CARR $11M 1.72%
AHR $9M 1.53%
ICLR $9M 1.50%
BAC $9M 1.48%
ILMN $8M 1.34%
RDNT $8M 1.28%
USFD $6M 1.04%
HIMS $6M 0.90%
TAN $5M 0.80%
OKTA $5M 0.77%
CCB $5M 0.75%

Sold Out Positions

SymbolValue% Port
GLW —%
BN —%
GMED —%
ICE —%
HD —%
BLDR —%
LOW —%
ETR —%
EW —%
CNM —%
SKY —%
MOH —%
PSN —%
KKR —%
HUM —%
View SEC EDGAR Filings for KINGDON CAPITAL MANAGEMENT, L.L.C. →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms