Kingdon Capital Management, L.L.C. 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Kingdon Capital Management, L.L.C. disclosed 57 US equity positions worth $653.5m in its Q4 2025 13F filing. The largest position was SNDX at 7.6% of the reported book, followed by NVDA and KEYS. Against the Q3 2025 filing, it opened 15 new positions, added to 16 and reduced 10 among the top 50 holdings.
What did Kingdon Capital Management, L.L.C. own in Q4 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | SNDX SYNDAX PHARMACEUTICALS INC | Healthcare | 7.6% | $49.4m | 2,350,000 | -6% | reduced |
| 2 | NVDA NVIDIA CORPORATION | Technology | 4.1% | $27.0m | 145,000 | 23% | added |
| 3 | KEYS KEYSIGHT TECHNOLOGIES INC | Technology | 4.0% | $26.4m | 130,000 | – | new |
| 4 | OLMA OLEMA PHARMACEUTICALS INC | Healthcare | 3.6% | $23.8m | 953,600 | 12% | added |
| 5 | NXE NEXGEN ENERGY LTD | Energy | 3.5% | $23.0m | 2,500,000 | 15% | added |
| 6 | WRBY WARBY PARKER INC | Healthcare | 3.5% | $23.0m | 1,053,644 | 201% | added |
| 7 | CRH CRH PLC | Basic Materials | 2.9% | $18.7m | 150,000 | 0% | held |
| 8 | SLNOEUR SOLENO THERAPEUTICS INC | 2.8% | $18.5m | 399,900 | 33% | added | |
| 9 | CART MAPLEBEAR INC | Consumer Cyclical | 2.7% | $17.5m | 390,000 | -13% | reduced |
| 10 | ECG EVERUS CONSTR GROUP | 2.6% | $17.1m | 200,000 | 0% | held | |
| 11 | HWM HOWMET AEROSPACE INC | Industrials | 2.5% | $16.4m | 80,000 | 45% | added |
| 12 | SRAD SPORTRADAR GROUP AG | Technology | 2.5% | $16.0m | 674,000 | 42% | added |
| 13 | TDY TELEDYNE TECHNOLOGIES INC | Technology | 2.3% | $15.3m | 30,000 | 100% | added |
| 14 | AMD ADVANCED MICRO DEVICES INC | Technology | 2.3% | $15.0m | 70,000 | – | new |
| 15 | BABA ALIBABA GROUP HLDG LTD | Consumer Cyclical | 2.2% | $14.7m | 100,000 | – | new |
| 16 | APG API GROUP CORP | Industrials | 2.2% | $14.3m | 375,000 | 15% | added |
| 17 | LLYVK LIBERTY MEDIA CORP DEL | 2.1% | $13.8m | 140,000 | 75% | added | |
| 18 | WAY WAYSTAR HLDG CORP | Healthcare | 2.1% | $13.6m | 414,549 | – | new |
| 19 | HEI HEICO CORP NEW | Industrials | 2.0% | $12.9m | 40,000 | 0% | held |
| 20 | TSM TAIWAN SEMICONDUCTOR MFG LTD | Technology | 1.9% | $12.2m | 40,000 | -6% | reduced |
| 21 | WWW WOLVERINE WORLD WIDE INC | Consumer Cyclical | 1.8% | $11.9m | 657,500 | 408% | added |
| 22 | GOOGL ALPHABET INC | Communication Services | 1.8% | $11.7m | 37,500 | 25% | added |
| 23 | TAP MOLSON COORS BEVERAGE CO | Consumer Defensive | 1.7% | $11.2m | 240,200 | 0% | held |
| 24 | RAL RALLIANT CORP | Technology | 1.7% | $11.2m | 220,000 | 0% | held |
| 25 | EWY ISHARES INC | 1.7% | $11.2m | 115,000 | -15% | reduced | |
| 26 | WMT WALMART INC | Consumer Defensive | 1.7% | $11.1m | 100,000 | 0% | held |
| 27 | CARR CARRIER GLOBAL CORPORATION | Industrials | 1.6% | $10.6m | 200,000 | – | new |
| 28 | LOAR LOAR HOLDINGS INC | 1.6% | $10.2m | 150,000 | 0% | held | |
| 29 | ULS UL SOLUTIONS INC | Industrials | 1.5% | $9.9m | 125,000 | 0% | held |
| 30 | NXPI NXP SEMICONDUCTORS N V | Technology | 1.5% | $9.8m | 45,000 | -5% | reduced |
| 31 | ALDX ALDEYRA THERAPEUTICS INC | Healthcare | 1.5% | $9.6m | 1,850,000 | 39% | added |
| 32 | AHR AMERICAN HEALTHCARE REIT INC | Real Estate | 1.4% | $9.4m | 200,000 | – | new |
| 33 | WELL WELLTOWER INC | Real Estate | 1.4% | $9.3m | 50,000 | -17% | reduced |
| 34 | ICLR ICON PLC | Healthcare | 1.4% | $9.2m | 50,600 | – | new |
| 35 | BAC BANK AMERICA CORP | Financial Services | 1.4% | $9.1m | 165,000 | – | new |
| 36 | HCI HCI GROUP INC | Financial Services | 1.3% | $8.6m | 45,000 | 6% | added |
| 37 | ILMN ILLUMINA INC | Healthcare | 1.3% | $8.2m | 62,700 | – | new |
| 38 | RDNT RADNET INC | Healthcare | 1.2% | $7.8m | 110,000 | – | new |
| 39 | AXON AXON ENTERPRISE INC | Industrials | 1.2% | $7.7m | 13,500 | 35% | added |
| 40 | ALC ALCON AG | Healthcare | 1.1% | $7.0m | 88,480 | 54% | added |
| 41 | USFD US FOODS HLDG CORP | Consumer Defensive | 1.0% | $6.4m | 85,000 | – | new |
| 42 | FLEX FLEX LTD | Technology | 0.9% | $5.7m | 95,000 | -46% | reduced |
| 43 | HIMS HIMS & HERS HEALTH INC | Healthcare | 0.8% | $5.5m | 170,000 | – | new |
| 44 | PRM PERIMETER SOLUTIONS INC | Basic Materials | 0.8% | $5.5m | 200,000 | – | new |
| 45 | ZVRA ZEVRA THERAPEUTICS INC | 0.8% | $5.2m | 585,069 | -10% | reduced | |
| 46 | WDC WESTERN DIGITAL CORP | Technology | 0.8% | $5.2m | 30,000 | -50% | reduced |
| 47 | TTEK TETRA TECH INC NEW | Industrials | 0.8% | $5.0m | 150,000 | -14% | reduced |
| 48 | TAN INVESCO EXCH TRADED FD TR II | 0.8% | $4.9m | 100,000 | – | new | |
| 49 | OKTA OKTA INC | Technology | 0.7% | $4.8m | 55,000 | – | new |
| 50 | ITRI ITRON INC | Technology | 0.7% | $4.6m | 50,000 | 0% | held |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.