# KINGDON CAPITAL MANAGEMENT, L.L.C.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1000097. Source: https://holderbook.com/funds/1000097-kingdon-capital-management-l-l-c/

- Reported value: $976.2M
- Positions: 69
- Weight of the ten largest: 37.8%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ISHARES TR | [SOXX](https://holderbook.com/stocks/SOXX/) | $83.3M | 0 | 8.5% | 1 |
| SYNDAX PHARMACEUTICALS INC | [SNDX](https://holderbook.com/stocks/SNDX/) | $54.6M | 2,500,000 | 5.6% | 11 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $48.0M | 240,000 | 4.9% | 6 |
| WARBY PARKER INC | [WRBY](https://holderbook.com/stocks/WRBY/) | $34.2M | 1,126,644 | 3.5% | 4 |
| KEYSIGHT TECHNOLOGIES INC | [KEYS](https://holderbook.com/stocks/KEYS/) | $29.8M | 70,000 | 3.0% | 3 |
| API GROUP CORP | [APG](https://holderbook.com/stocks/APG/) | $25.4M | 600,000 | 2.6% | 6 |
| FLUENCE ENERGY INC | [FLNC](https://holderbook.com/stocks/FLNC/) | $23.9M | 900,000 | 2.4% | 1 |
| NEXGEN ENERGY LTD | [NXE](https://holderbook.com/stocks/NXE/) | $23.5M | 2,500,000 | 2.4% | 11 |
| ISHARES INC | [EWY](https://holderbook.com/stocks/EWY/) | $23.2M | 0 | 2.4% | 5 |
| GRAIL INC | [GRAL](https://holderbook.com/stocks/GRAL/) | $23.2M | 340,000 | 2.4% | 1 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $22.1M | 0 | 2.3% | 1 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $21.5M | 45,000 | 2.2% | 10 |
| EVERUS CONSTR GROUP | [ECG](https://holderbook.com/stocks/ECG/) | $20.7M | 125,000 | 2.1% | 7 |
| ALIBABA GROUP HLDG LTD | [BABA](https://holderbook.com/stocks/BABA/) | $19.2M | 100,000 | 2.0% | 3 |
| HIMS & HERS HEALTH INC | [HIMS](https://holderbook.com/stocks/HIMS/) | $18.8M | 542,500 | 1.9% | 1 |
| SPDR SERIES TRUST | [KRE](https://holderbook.com/stocks/KRE/) | $18.7M | 0 | 1.9% | 1 |
| MAPLEBEAR INC | [CART](https://holderbook.com/stocks/CART/) | $18.0M | 380,000 | 1.8% | 7 |
| ILLUMINA INC | [ILMN](https://holderbook.com/stocks/ILMN/) | $17.2M | 97,800 | 1.8% | 1 |
| TELEDYNE TECHNOLOGIES INC | [TDY](https://holderbook.com/stocks/TDY/) | $16.7M | 25,000 | 1.7% | 4 |
| INVESCO EXCH TRADED FD TR II | [TAN](https://holderbook.com/stocks/TAN/) | $16.3M | 175,000 | 1.7% | 1 |
| HOWMET AEROSPACE INC | [HWM](https://holderbook.com/stocks/HWM/) | $16.1M | 60,000 | 1.7% | 4 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $15.0M | 0 | 1.5% | 2 |
| OLEMA PHARMACEUTICALS INC | [OLMA](https://holderbook.com/stocks/OLMA/) | $15.0M | 1,200,000 | 1.5% | 4 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $14.8M | 37,100 | 1.5% | 1 |
| FLEX LTD | [FLEX](https://holderbook.com/stocks/FLEX/) | $14.6M | 90,000 | 1.5% | 14 |
| COGNEX CORP | [CGNX](https://holderbook.com/stocks/CGNX/) | $14.5M | 200,000 | 1.5% | 2 |
| BUTTERFLY NETWORK INC | [BFLY](https://holderbook.com/stocks/BFLY/) | $14.3M | 1,700,000 | 1.5% | 1 |
| GARRETT MOTION INC | [GTX](https://holderbook.com/stocks/GTX/) | $13.6M | 375,000 | 1.4% | 2 |
| CYTOKINETICS INC | [CYTK](https://holderbook.com/stocks/CYTK/) | $13.4M | 157,100 | 1.4% | 1 |
| BROOKDALE SR LIVING INC | [BKD](https://holderbook.com/stocks/BKD/) | $12.9M | 800,000 | 1.3% | 2 |
| VSE CORP | [VSEC](https://holderbook.com/stocks/VSEC/) | $12.0M | 52,500 | 1.2% | 2 |
| QUANTA SVCS INC | [PWR](https://holderbook.com/stocks/PWR/) | $11.5M | 16,000 | 1.2% | 1 |
| ZEVRA THERAPEUTICS INC | [ZVRA](https://holderbook.com/stocks/ZVRA/) | $11.1M | 775,000 | 1.1% | 5 |
| RALLIANT CORP | [RAL](https://holderbook.com/stocks/RAL/) | $11.0M | 150,000 | 1.1% | 4 |
| FEDEX CORP | [FDX](https://holderbook.com/stocks/FDX/) | $11.0M | 35,000 | 1.1% | 1 |
| HEICO CORP NEW | [HEI](https://holderbook.com/stocks/HEI/) | $10.7M | 30,000 | 1.1% | 14 |
| ROUNDHILL ETF TRUST | - | $10.3M | 0 | 1.1% | 1 |
| AERCAP HOLDINGS NV | [AER](https://holderbook.com/stocks/AER/) | $10.2M | 70,000 | 1.0% | 2 |
| ITT INC | [ITT](https://holderbook.com/stocks/ITT/) | $9.9M | 50,000 | 1.0% | 1 |
| THE REALREAL INC | [REAL](https://holderbook.com/stocks/REAL/) | $9.6M | 813,000 | 1.0% | 2 |
| VICOR CORP | [VICR](https://holderbook.com/stocks/VICR/) | $9.5M | 25,000 | 1.0% | 2 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $9.3M | 25,000 | 1.0% | 2 |
| AMERICAN HEALTHCARE REIT INC | [AHR](https://holderbook.com/stocks/AHR/) | $9.1M | 175,000 | 0.9% | 3 |
| ENTEGRIS INC | [ENTG](https://holderbook.com/stocks/ENTG/) | $9.0M | 50,000 | 0.9% | 1 |
| CRANE COMPANY | [CR](https://holderbook.com/stocks/CR/) | $8.9M | 40,000 | 0.9% | 2 |
| GENESCO INC | [GCO](https://holderbook.com/stocks/GCO/) | $8.2M | 244,000 | 0.8% | 2 |
| D R HORTON INC | [DHI](https://holderbook.com/stocks/DHI/) | $8.1M | 0 | 0.8% | 1 |
| WOLVERINE WORLD WIDE INC | [WWW](https://holderbook.com/stocks/WWW/) | $8.0M | 485,000 | 0.8% | 8 |
| AAR CORP | [AIR](https://holderbook.com/stocks/AIR/) | $7.5M | 52,500 | 0.8% | 3 |
| DARLING INGREDIENTS INC | [DAR](https://holderbook.com/stocks/DAR/) | $7.4M | 135,000 | 0.8% | 2 |
| DELTA AIR LINES INC | [DAL](https://holderbook.com/stocks/DAL/) | $7.2M | 77,000 | 0.7% | 1 |
| COMPASS INC | [COMP](https://holderbook.com/stocks/COMP/) | $6.8M | 250,000 | 0.7% | 2 |
| SUNRUN INC | [RUN](https://holderbook.com/stocks/RUN/) | $6.7M | 0 | 0.7% | 1 |
| CREDO TECHNOLOGY GROUP HOLDI | [CRDO](https://holderbook.com/stocks/CRDO/) | $5.8M | 21,500 | 0.6% | 2 |
| LIONSGATE STUDIOS CORP | [LION](https://holderbook.com/stocks/LION/) | $5.7M | 375,000 | 0.6% | 1 |
| WELLTOWER INC | [WELL](https://holderbook.com/stocks/WELL/) | $5.7M | 25,000 | 0.6% | 5 |
| ALDEYRA THERAPEUTICS INC | [ALDX](https://holderbook.com/stocks/ALDX/) | $5.6M | 2,652,315 | 0.6% | 6 |
| NAVITAS SEMICONDUCTOR CORP | [NVTS](https://holderbook.com/stocks/NVTS/) | $5.4M | 0 | 0.6% | 1 |
| F5 INC | [FFIV](https://holderbook.com/stocks/FFIV/) | $5.0M | 12,000 | 0.5% | 1 |
| INVENTIVA SA | [IVA](https://holderbook.com/stocks/IVA/) | $4.8M | 1,270,000 | 0.5% | 1 |
| ELEDON PHARMACEUTICALS INC | [ELDN](https://holderbook.com/stocks/ELDN/) | $4.1M | 1,039,275 | 0.4% | 3 |
| EDGEWISE THERAPEUTICS INC | [EWTX](https://holderbook.com/stocks/EWTX/) | $4.1M | 0 | 0.4% | 1 |
| SHOALS TECHNOLOGIES GROUP IN | [SHLS](https://holderbook.com/stocks/SHLS/) | $4.0M | 0 | 0.4% | 1 |
| WESTERN DIGITAL CORP | [WDC](https://holderbook.com/stocks/WDC/) | $3.2M | 0 | 0.3% | 1 |
| COMPASS THERAPEUTICS INC | [CMPX](https://holderbook.com/stocks/CMPX/) | $3.1M | 1,400,000 | 0.3% | 1 |
| NIOCORP DEVS LTD | [NB](https://holderbook.com/stocks/NB/) | $2.2M | 450,000 | 0.2% | 13 |
| SCYNEXIS INC | - | $1.0M | 247,811 | 0.1% | 1 |
| JASPER THERAPEUTICS INC | [JSPR](https://holderbook.com/stocks/JSPR/) | $569.2K | 1,352,106 | 0.1% | 2 |
| ENVVENO MEDICAL CORPORATION | [NVNO](https://holderbook.com/stocks/NVNO/) | $387.3K | 36,166 | 0.0% | 2 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +22.3% | +14.8% | +7.4% | 93% |
| Q1 2026 | -2.8% | -4.6% | +1.9% | 88% |
| Q4 2025 | +4.1% | +2.4% | +1.7% | 94% |
| Q3 2025 | +17.0% | +7.8% | +9.2% | 98% |
| Q2 2025 | +9.9% | +10.5% | -0.5% | 99% |
| Q1 2025 | -12.2% | -4.6% | -7.6% | 98% |
| Q4 2024 | -3.9% | +2.1% | -6.1% | 93% |
| Q3 2024 | +7.9% | +5.4% | +2.5% | 92% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $976.2M | 69 |
| Q1 2026 | $911.0M | 65 |
| Q4 2025 | $841.2M | 62 |
| Q3 2025 | $805.7M | 74 |
| Q2 2025 | $742.5M | 65 |
| Q1 2025 | $944.9M | 67 |
| Q4 2024 | $702.0M | 68 |
| Q3 2024 | $901.8M | 76 |
| Q2 2024 | $933.0M | 76 |
| Q1 2024 | $915.8M | 80 |
| Q4 2023 | $1.6B | 72 |
| Q3 2023 | $868.3M | 68 |