Kingdon Capital Management, L.l.c.
Kingdon Capital Management, L.l.c. reported 57 US-listed holdings worth $741.6 million in its 13F for the quarter ended 30 June 2026, filed 14 August 2026. Its largest: Syndax Pharmaceuticals Inc. (7.4%), NVIDIA Corp. (6.5%) and Warby Parker Inc. (4.6%). Against the quarter before, it opened 20 positions, added to 11, trimmed 16 and sold out of 15.
Reported holdings$741.6M+24.2% on Q1 2026
Positions57+5 on Q1 2026
The largest ten39.7%of its reported holdings
Latest 13FQ2 2026filed 14 August 2026
OpenedAdded toHeldTrimmed
The 14 largest of its 57 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q1 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What its reported holdings returned
Held through each quarter, the holdings it reported returned +33.1% over the 7 quarters to 30 June 2026, against +30.2% for the S&P 500.
Its reported holdingsThe S&P 500
Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.
What it did on the quarter
Opened 20Added 11Held 10Trimmed 16Sold out 15
Its positions against its 13F for the quarter to 31 March 2026; a change under 0.1% of a position counts as held
Opened 20
- Grail, Inc. GRAL$23.2 million
- Hims & Hers Health, Inc. HIMS$18.8 million
- Fluence Energy Inc. FLNC$17.9 million
- Illumina, Inc. ILMN$17.2 million
- Intuitive Surgical Inc. ISRG$14.8 million
- Butterfly Network Inc. BFLY$14.3 million
- Cytokinetics Inc. CYTK$13.4 million
- Quanta Services, Inc. PWR$11.5 million
and 12 more in the table below
Added to 11
- NVIDIA Corp. NVDA+40,000 shares · +20%
- APi Group Corp. APG+150,000 shares · +33%
- Teledyne Technologies Inc. TDY+7,500 shares · +43%
- the Realreal Inc. REAL+413,000 shares · +103%
- Olema Pharmaceuticals Inc. OLMA+345,000 shares · +40%
- Warby Parker Inc. WRBY+73,000 shares · +7%
- Vicor Corp. VICR+5,000 shares · +25%
- Cognex Corp. CGNX+15,000 shares · +8%
and 3 more in the table below
Trimmed 16
- Flex Ltd. FLEX-85,000 shares · -49%
- Credo Technology Group Holdi CRDO-43,500 shares · -67%
- Garrett Motion Inc. GTX-325,000 shares · -46%
- Ralliant Corp. RAL-100,000 shares · -40%
- AAR Corp. AIR-47,500 shares · -48%
- American Healthcare REIT, Inc. AHR-125,000 shares · -42%
- Welltower Inc. WELL-25,000 shares · -50%
- Crane Co. CR-20,000 shares · -33%
and 8 more in the table below
Sold out of 15
- Soleno Therapeutics Inc. SLNO$19.3 million last quarter
- iShares Trust ICLN$12.8 million last quarter
- ICON plc ICLR$11.7 million last quarter
- Sportradar Group AG SRAD$11.3 million last quarter
- Waystar Holding Corp. WAY$10.6 million last quarter
- Acadia Healthcare Company, Inc. ACHC$9.3 million last quarter
- iShares Inc. EWY$9.2 million last quarter
- Collective Mining Ltd CNL$7.5 million last quarter
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| Syndax Pharmaceuticals Inc. SNDX | 2.5M | $54.6 million | 7.37% | no change |
| NVIDIA Corp. NVDA | 240.0K | $48.0 million | 6.48% | +40.0K |
| Warby Parker Inc. WRBY | 1.1M | $34.2 million | 4.61% | +73.0K |
| APi Group Corp. APG | 600.0K | $25.4 million | 3.43% | +150.0K |
| Keysight Technologies, Inc. KEYS | 70.0K | $24.5 million | 3.30% | -10.0K |
| Nexgen Energy Ltd NXE | 2.5M | $23.5 million | 3.17% | no change |
| Grail, Inc. GRAL | 340.0K | $23.2 million | 3.13% | new |
| Taiwan Semiconductor Manufacturing Company Limited TSM | 45.0K | $21.5 million | 2.90% | no change |
| Everus Construction Group, Inc. ECG | 125.0K | $20.7 million | 2.80% | no change |
| Hims & Hers Health, Inc. HIMS | 542.5K | $18.8 million | 2.54% | new |
| Maplebear Inc. CART | 380.0K | $18.0 million | 2.43% | -90.0K |
| Fluence Energy Inc. FLNC | 900.0K | $17.9 million | 2.41% | new |
| Illumina, Inc. ILMN | 97.8K | $17.2 million | 2.32% | new |
| Teledyne Technologies Inc. TDY | 25.0K | $16.7 million | 2.25% | +7.5K |
| Howmet Aerospace Inc. HWM | 60.0K | $16.1 million | 2.18% | -10.0K |
| Olema Pharmaceuticals Inc. OLMA | 1.2M | $15.0 million | 2.02% | +345.0K |
| Intuitive Surgical Inc. ISRG | 37.1K | $14.8 million | 1.99% | new |
| Flex Ltd. FLEX | 90.0K | $14.6 million | 1.97% | -85.0K |
| Cognex Corp. CGNX | 200.0K | $14.5 million | 1.95% | +15.0K |
| Butterfly Network Inc. BFLY | 1.7M | $14.3 million | 1.93% | new |
| Garrett Motion Inc. GTX | 375.0K | $13.6 million | 1.83% | -325.0K |
| Cytokinetics Inc. CYTK | 157.1K | $13.4 million | 1.80% | new |
| Brookdale SR Living Inc. BKD | 800.0K | $12.9 million | 1.74% | -50.0K |
| VSE Corp. VSEC | 52.5K | $12.0 million | 1.62% | -7.5K |
| Quanta Services, Inc. PWR | 16.0K | $11.5 million | 1.55% | new |
| Zevra Therapeutics Inc. ZVRA | 775.0K | $11.1 million | 1.50% | no change |
| Ralliant Corp. RAL | 150.0K | $11.0 million | 1.49% | -100.0K |
| FedEx Corp. FDX | 35.0K | $11.0 million | 1.48% | new |
| Heico Corp. New HEI | 30.0K | $10.7 million | 1.44% | -10.0K |
| Invesco Exch Traded FD Trust II TAN | 175.0K | $10.4 million | 1.40% | new |
| AerCap Holdings N.V. AER | 70.0K | $10.2 million | 1.38% | -20.0K |
| ITT Inc. ITT | 50.0K | $9.9 million | 1.33% | new |
| Alibaba Group Holding Limited BABA | 100.0K | $9.6 million | 1.29% | +10.0K |
| the Realreal Inc. REAL | 813.0K | $9.6 million | 1.29% | +413.0K |
| Vicor Corp. VICR | 25.0K | $9.5 million | 1.28% | +5.0K |
| General Electric Co. GE | 25.0K | $9.3 million | 1.26% | new |
| American Healthcare REIT, Inc. AHR | 175.0K | $9.1 million | 1.23% | -125.0K |
| Entegris Inc. ENTG | 50.0K | $9.0 million | 1.21% | new |
| Crane Co. CR | 40.0K | $8.9 million | 1.20% | -20.0K |
| Genesco Inc. GCO | 244.0K | $8.2 million | 1.11% | no change |
| Wolverine World Wide Inc. WWW | 485.0K | $8.0 million | 1.08% | +49.0K |
| AAR Corp. AIR | 52.5K | $7.5 million | 1.01% | -47.5K |
| Darling Ingredients Inc. DAR | 135.0K | $7.4 million | 0.99% | -55.0K |
| Delta Air Lines, Inc. DAL | 77.0K | $7.2 million | 0.97% | new |
| Credo Technology Group Holdi CRDO | 21.5K | $5.8 million | 0.79% | -43.5K |
| Lionsgate Studios Corp. LION | 375.0K | $5.7 million | 0.77% | new |
| Welltower Inc. WELL | 25.0K | $5.7 million | 0.77% | -25.0K |
| Aldeyra Therapeutics Inc. ALDX | 2.7M | $5.6 million | 0.76% | +500.0K |
| F5, Inc. FFIV | 12.0K | $5.0 million | 0.67% | new |
| Inventiva SA IVA | 1.3M | $4.8 million | 0.65% | new |
| Eledon Pharmaceuticals Inc. ELDN | 1.0M | $4.1 million | 0.55% | no change |
| Compass Inc. COMP | 250.0K | $3.1 million | 0.42% | new |
| Compass Therapeutics Inc. CMPX | 1.4M | $3.1 million | 0.41% | new |
| Niocorp Devs Ltd NB | 450.0K | $2.2 million | 0.29% | no change |
| Scynexis Inc. SCYX | 247.8K | $1.0 million | 0.14% | new |
| Jasper Therapeutics Inc. JSPR | 1.4M | $569,237 | 0.08% | no change |
| Envveno Medical Corporation NVNO | 36.2K | $387,338 | 0.05% | no change |
Every US-listed position in the fund's 13F for the quarter ended 30 June 2026, by the value it reported.
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Change is shares against its 13F for the quarter before; the 15 it sold out of are in the box above.Options it reported
| Company | Option | Shares under the options | Value of those shares |
|---|---|---|---|
| iShares Trust SOXX | Puts | 130.0K | $83.3 million |
| iShares Inc. EWY | Puts | 115.0K | $23.2 million |
| Invesco QQQ Trust QQQ | Puts | 30.0K | $22.1 million |
| SPDR Ser Trust KRE | Calls | 250.0K | $18.7 million |
| iShares Russell 2000 ETF IWM | Puts | 50.0K | $15.0 million |
| Roundhill ETF Trust DRAM | Puts | 140.0K | $10.3 million |
| Alibaba Group Holding Limited BABA | Puts | 100.0K | $9.6 million |
| D.R. Horton, Inc. DHI | Puts | 50.0K | $8.1 million |
| Sunrun Inc. RUN | Calls | 500.0K | $6.7 million |
| Fluence Energy Inc. FLNC | Puts | 300.0K | $6.0 million |
| Invesco Exch Traded FD Trust II TAN | Calls | 100.0K | $5.9 million |
| Navitas Semiconductor Corp NVTS | Puts | 300.0K | $5.4 million |
| Keysight Technologies, Inc. KEYS | Puts | 15.0K | $5.3 million |
| Edgewise Therapeutics Inc. EWTX | Puts | 100.0K | $4.1 million |
| Shoals Technologies Group in SHLS | Calls | 400.0K | $4.0 million |
| Compass Inc. COMP | Calls | 300.0K | $3.7 million |
| Western Digital Corp. WDC | Calls | 5.0K | $3.2 million |
17 option lines. A 13F lists calls and puts by the shares they cover and what those shares were worth at the quarter's end, not what the options cost; they are not counted in the holdings above.