Q2 2026 13F · SEC CIK 1000097

Kingdon Capital Management, L.l.c.

Hedge fundFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $741.6M
Reported positions: 57
Top holdings a year, 3 yrs: +32.2%
Assets under management: $959.8M

Kingdon Capital Management, L.l.c. is a hedge fund that reported 57 positions worth $741.6M in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Syndax Pharmaceuticals Inc (SNDX, 7.4%), Nvidia Corporation (NVDA, 6.5%), Warby Parker Inc (WRBY, 4.6%). A portfolio copying its top holdings returned 32.2% a year over the last 3 years, against 20.4% for the S&P 500.

Kingdon Capital Management, L.l.c. holdings largest 50 of 57 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Kingdon Capital Management, L.l.c. 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
SNDXSyndax Pharmaceuticals Inc	7.4%	9.8%	2,500,000	+0.0%	$54.6M
NVDANvidia Corporation	6.5%	5.8%	240,000	+20.0%	$48.0M
WRBYWarby Parker Inc	4.6%	3.7%	1,126,644	+6.9%	$34.2M
APGApi Group Corp	3.4%	3.1%	600,000	+33.3%	$25.4M
KEYSKeysight Technologies Inc	3.3%	3.8%	70,000	-12.5%	$24.5M
NXENexgen Energy Limited (canada)	3.2%	4.9%	2,500,000	+0.0%	$23.5M
GRALGRAIL, Inc.	3.1%	—	340,000	—	$23.2M
TSMTaiwan Semiconductor Manufac	2.9%	2.5%	45,000	+0.0%	$21.5M
ECGEverus Constr Group	2.8%	2.5%	125,000	+0.0%	$20.7M
HIMSHims & Hers Health Inc	2.5%	—	542,500	—	$18.8M
CARTMaplebear Inc	2.4%	2.9%	380,000	-19.1%	$18.0M
FLNCFluence Energy Inc	2.4%	—	900,000	—	$17.9M
ILMNIllumina Inc	2.3%	—	97,800	—	$17.2M
TDYTeledyne Technologies Inc	2.2%	1.8%	25,000	+42.9%	$16.7M
HWMHowmet Aerospace Inc	2.2%	2.7%	60,000	-14.3%	$16.1M
OLMAOlema Pharmaceuticals Inc	2.0%	2.1%	1,200,000	+40.4%	$15.0M
ISRGIntuitive Surgical Inc	2.0%	—	37,100	—	$14.8M
FLEXFlex Ltd Ord	2.0%	1.9%	90,000	-48.6%	$14.6M
CGNXCognex Corp	2.0%	1.5%	200,000	+8.1%	$14.5M
BFLYButterfly Network Inc	1.9%	—	1,700,000	—	$14.3M
GTXGarrett Motion Inc	1.8%	2.1%	375,000	-46.4%	$13.6M
CYTKCytokinetics	1.8%	—	157,100	—	$13.4M
BKDBrookdale Sr Living Inc	1.7%	1.9%	800,000	-5.9%	$12.9M
VSECVse Corp	1.6%	1.9%	52,500	-12.5%	$12.0M
PWRQuanta Svcs Inc	1.6%	—	16,000	—	$11.5M
ZVRAZevra Therapeutics Inc	1.5%	1.2%	775,000	+0.0%	$11.1M
RALRalliant Corp	1.5%	1.7%	150,000	-40.0%	$11.0M
FDXFedex Corp	1.5%	—	35,000	—	$11.0M
HEIHeico Corp New	1.4%	1.8%	30,000	-25.0%	$10.7M
TANInvesco Solar ETF	1.4%	—	175,000	—	$10.4M
AERAercap Holdings NV	1.4%	2.1%	70,000	-22.2%	$10.2M
ITTItt	1.3%	—	50,000	—	$9.9M
BABAAlibaba Group Hldg Ltd	1.3%	1.9%	100,000	+11.1%	$9.6M
REALThe Realreal Inc	1.3%	0.6%	813,000	+103.3%	$9.6M
VICRVicor Corp	1.3%	0.5%	25,000	+25.0%	$9.5M
GEGe Aerospace	1.3%	—	25,000	—	$9.3M
AHRAmerican Healthcare REIT Inc	1.2%	2.4%	175,000	-41.7%	$9.1M
ENTGEntegris Inc	1.2%	—	50,000	—	$9.0M
CRCrane Company	1.2%	1.7%	40,000	-33.3%	$8.9M
GCOGenesco Inc	1.1%	1.2%	244,000	+0.0%	$8.2M
WWWWolverine World Wide Inc	1.1%	1.2%	485,000	+11.2%	$8.0M
AIRAar Corp	1.0%	1.8%	52,500	-47.5%	$7.5M
DARDarling Ingredients Inc	1.0%	2.0%	135,000	-28.9%	$7.4M
DALDelta Air Lines Inc	1.0%	—	77,000	—	$7.2M
CRDOCredo Technology Group Holdi	0.8%	1.0%	21,500	-66.9%	$5.8M
LIONLionsgate Studios Corp	0.8%	—	375,000	—	$5.7M
WELLWelltower Inc	0.8%	1.7%	25,000	-50.0%	$5.7M
ALDXAldeyra Therapeutics Inc	0.8%	0.6%	2,652,315	+23.2%	$5.6M
FFIVF5 Inc	0.7%	—	12,000	—	$5.0M
IVAInventiva SA	0.6%	—	1,270,000	—	$4.8M

What Kingdon Capital Management, L.l.c. bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +47.0% /yr; S&P 500 +20.1%
3 years: +32.2% /yr; S&P 500 +20.4%
5 years: +17.5% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$741.6M	57
Q1 2026	$597.1M	52
Q4 2025	$653.5M	57
Q3 2025	$638.2M	64
Q2 2025	$517.9M	54
Q1 2025	$482.7M	54
Q4 2024	$585.1M	58
Q3 2024	$681.3M	68
Q2 2024	$647.7M	64
Q1 2024	$755.8M	69
Q4 2023	$523.3M	53
Q3 2023	$547.0M	55

Questions about Kingdon Capital Management, L.l.c.'s portfolio

What stocks does Kingdon Capital Management, L.l.c. own?

Kingdon Capital Management, L.l.c.'s latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 57 positions worth $741.6M. The largest are Syndax Pharmaceuticals Inc (SNDX) at 7.4%, Nvidia Corporation (NVDA) at 6.5%, Warby Parker Inc (WRBY) at 4.6%, Api Group Corp (APG) at 3.4% and Keysight Technologies Inc (KEYS) at 3.3%.

What did Kingdon Capital Management, L.l.c. buy last quarter?

In Q2 2026, Kingdon Capital Management, L.l.c. added The Realreal Inc (REAL) (+103.3% shares), Teledyne Technologies Inc (TDY) (+42.9% shares) and Olema Pharmaceuticals Inc (OLMA) (+40.4% shares), compared with its Q1 2026 filing.

What did Kingdon Capital Management, L.l.c. sell last quarter?

In Q2 2026, Kingdon Capital Management, L.l.c. cut from its top 50 Soleno Therapeutics Inc (SLNO), cut from its top 50 Ishares Tr (ICLN), cut from its top 50 Icon Plc (ICLR), cut from its top 50 Sportradar Group AG (SRAD), cut from its top 50 Waystar Hldg Corp (WAY), Credo Technology Group Holdi (CRDO) (-66.9% shares), Welltower Inc (WELL) (-50.0% shares) and Flex Ltd Ord (FLEX) (-48.6% shares), compared with its Q1 2026 filing.

How has Kingdon Capital Management, L.l.c.'s portfolio performed?

A portfolio copying Kingdon Capital Management, L.l.c.'s 20 largest 13F holdings each quarter, from the day each filing was public, returned +32.2% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +47.0% against +20.1%. Over 5 years: +17.5% a year against +11.6%.

When is Kingdon Capital Management, L.l.c.'s next 13F filing due?

13F filings are due 45 days after each quarter ends. Kingdon Capital Management, L.l.c.'s filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Kingdon Capital Management, L.l.c. manage?

Kingdon Capital Management, L.l.c. reported $959.8M of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $741.6M.