Kingdon Capital Management, L.L.C. Top Holdings and 13F Report (2025)

About Kingdon Capital Management, L.L.C.

Investment Activity

Kingdon Capital Management, L.L.C. has $701.97 million in total holdings as of December 31, 2024.
Kingdon Capital Management, L.L.C. owns shares of 68 different stocks, but just 39 companies or ETFs make up 80% of its holdings.
Approximately 39.52% of the portfolio was purchased this quarter.
About 67.77% of the portfolio was sold this quarter.
This quarter, Kingdon Capital Management, L.L.C. has purchased 76 new stocks and bought additional shares in 12 stocks.
Kingdon Capital Management, L.L.C. sold shares of 17 stocks and completely divested from 32 stocks this quarter.

Largest Holdings

Tandem Diabetes Care: $28,475,503
Syndax Pharmaceuticals: $26,440,000
PRAXIS PRECISION MEDICINES I: $23,318,880
iShares Russell 2000 ETF: $22,096,000
PG&E: $20,684,500

Largest New Holdings this Quarter

iShares Russell 2000 ETF: $22,096,000 Holding
PG&E: $20,684,500 Holding
EVERUS CONSTR GROUP: $17,095,000 Holding
MAPLEBEAR INC: $13,254,400 Holding
Blackstone: $12,931,500 Holding

Largest Purchases this Quarter

iShares Russell 2000 ETF: 100,000 shares (about $22.10M)
PG&E: 1,025,000 shares (about $20.68M)
EVERUS CONSTR GROUP: 260,000 shares (about $17.10M)
MAPLEBEAR INC: 320,000 shares (about $13.25M)
Syndax Pharmaceuticals: 1,000,000 shares (about $13.22M)

Largest Sales this Quarter

SPDR S&P 500 ETF Trust: 125,000 shares (about $73.26M)
Financial Select Sector SPDR Fund: 500,000 shares (about $24.17M)
Vistra: 135,000 shares (about $18.61M)
Insmed: 175,000 shares (about $12.08M)
Tetra Tech: 160,000 shares (about $6.37M)

Sector Allocation Over Time

Selling

Neutral

Buying

Latest 13F Holdings and Changes Since Previous Quarterly Filing

Issuer Name	Holdings Value	Approximate Purchase/Sale	Change in Shares	Shares Held	% of Portfolio	Sector
TNDM Tandem Diabetes Care	$28,475,503	$9,384,903 ▲	49.2%	790,547	4.1%	Medical
SNDX Syndax Pharmaceuticals	$26,440,000	$13,220,000 ▲	100.0%	2,000,000	3.8%	Medical
PRAXIS PRECISION MEDICINES I	$23,318,880	$5,002,400 ▼	-17.7%	303,000	3.3%	COM NEW
IWM iShares Russell 2000 ETF	$22,096,000	$22,096,000 ▲	New Holding	100,000	3.1%	Finance
PCG PG&E	$20,684,500	$20,684,500 ▲	New Holding	1,025,000	2.9%	Utilities
THC Tenet Healthcare	$19,149,091	$1,833,112 ▼	-8.7%	151,700	2.7%	Medical
CRH PLC	$17,116,200		0.0%	185,000	2.4%	ORD
EVERUS CONSTR GROUP	$17,095,000	$17,095,000 ▲	New Holding	260,000	2.4%	COM
TAP Molson Coors Beverage	$16,519,624		0.0%	288,200	2.4%	Consumer Staples
ONON ON	$16,431,000	$1,095,400 ▲	7.1%	300,000	2.3%	Retail/Wholesale
INSM Insmed	$15,534,000	$12,082,000 ▼	-43.8%	225,000	2.2%	Medical
MMM 3M	$14,845,350	$3,227,250 ▼	-17.9%	115,000	2.1%	Multi-Sector Conglomerates
TSM Taiwan Semiconductor Manufacturing	$14,811,750	$1,974,900 ▲	15.4%	75,000	2.1%	Computer and Technology
IP International Paper	$14,800,500	$1,345,500 ▼	-8.3%	275,000	2.1%	Basic Materials
SPY SPDR S&P 500 ETF Trust	$14,652,000	$73,260,000 ▼	-83.3%	25,000	2.1%	Finance
VST Vistra	$14,476,350	$18,612,450 ▼	-56.3%	105,000	2.1%	Utilities
HEI HEICO	$14,264,400	$1,188,700 ▲	9.1%	60,000	2.0%	Aerospace
CRL Charles River Laboratories International	$13,974,220	$295,360 ▲	2.2%	75,700	2.0%	Medical
SAIA Saia	$13,671,900	$1,139,325 ▼	-7.7%	30,000	1.9%	Transportation
MAPLEBEAR INC	$13,254,400	$13,254,400 ▲	New Holding	320,000	1.9%	COM
META Meta Platforms	$13,173,975		0.0%	22,500	1.9%	Computer and Technology
BX Blackstone	$12,931,500	$12,931,500 ▲	New Holding	75,000	1.8%	Finance
IMAX IMAX	$12,800,000	$5,120,000 ▲	66.7%	500,000	1.8%	Consumer Discretionary
BOOT Boot Barn	$12,661,788	$12,661,788 ▲	New Holding	83,400	1.8%	Retail/Wholesale
PWR Quanta Services	$12,642,000		0.0%	40,000	1.8%	Construction
WDC Western Digital	$12,522,300	$12,522,300 ▲	New Holding	210,000	1.8%	Computer and Technology
CW Curtiss-Wright	$12,420,450		0.0%	35,000	1.8%	Aerospace
HAS Hasbro	$12,300,200	$2,795,500 ▲	29.4%	220,000	1.8%	Consumer Discretionary
XLF Financial Select Sector SPDR Fund	$12,082,500	$24,165,000 ▼	-66.7%	250,000	1.7%	ETF
NXE NexGen Energy	$11,733,724		0.0%	1,777,837	1.7%	Basic Materials
ELV Elevance Health	$11,454,345	$11,454,345 ▲	New Holding	31,050	1.6%	Medical
XLU Utilities Select Sector SPDR Fund	$11,353,500	$11,353,500 ▲	New Holding	150,000	1.6%	ETF
MTUM iShares MSCI USA Momentum Factor ETF	$10,346,000	$10,346,000 ▲	New Holding	50,000	1.5%	ETF
OKTA Okta	$10,244,000	$10,244,000 ▲	New Holding	130,000	1.5%	Computer and Technology
ALC Alcon	$9,983,064	$9,983,064 ▲	New Holding	117,600	1.4%	Medical
AES AES	$9,652,500	$9,652,500 ▲	New Holding	750,000	1.4%	Utilities
JASPER THERAPEUTICS INC	$9,556,860	$1,069,000 ▼	-10.1%	447,000	1.4%	COM NEW
MTCH Match Group	$9,158,800	$9,158,800 ▲	New Holding	280,000	1.3%	Retail/Wholesale
WM Waste Management	$9,080,550	$3,026,850 ▼	-25.0%	45,000	1.3%	Business Services
PSN Parsons	$8,763,750	$1,845,000 ▲	26.7%	95,000	1.2%	Business Services
PPL PPL	$8,601,900	$8,601,900 ▲	New Holding	265,000	1.2%	Utilities
AJG Arthur J. Gallagher & Co.	$8,515,500	$8,515,500 ▲	New Holding	30,000	1.2%	Finance
FLEX Flex	$8,445,800	$1,151,700 ▼	-12.0%	220,000	1.2%	Computer and Technology
OWL Blue Owl Capital	$8,141,000	$2,907,500 ▲	55.6%	350,000	1.2%	Finance
WWW Wolverine World Wide	$7,607,940	$1,058,940 ▲	16.2%	342,700	1.1%	Consumer Discretionary
MSFT Microsoft	$7,587,000		0.0%	18,000	1.1%	Computer and Technology
MIR Mirion Technologies	$6,980,000	$6,980,000 ▲	New Holding	400,000	1.0%	Business Services
BJ BJ's Wholesale Club	$6,495,745		0.0%	72,700	0.9%	Consumer Discretionary
ALIT Alight	$6,055,000	$6,055,000 ▲	New Holding	875,000	0.9%	Computer and Technology
CDNS Cadence Design Systems	$6,009,200	$4,506,900 ▼	-42.9%	20,000	0.9%	Computer and Technology
CEG Constellation Energy	$5,592,750	$5,592,750 ▲	New Holding	25,000	0.8%	Oils/Energy
LOAR HOLDINGS INC	$5,543,250	$5,543,250 ▲	New Holding	75,000	0.8%	COM SHS
PLAY Dave & Buster's Entertainment	$4,524,450	$5,181,225 ▼	-53.4%	155,000	0.6%	Retail/Wholesale
TXN Texas Instruments	$4,406,485	$5,906,565 ▼	-57.3%	23,500	0.6%	Computer and Technology
RKT Rocket Companies	$3,941,000	$3,941,000 ▲	New Holding	350,000	0.6%	Finance
CIEN Ciena	$3,816,450	$3,816,450 ▲	New Holding	45,000	0.5%	Computer and Technology
XFOR X4 Pharmaceuticals	$3,621,783	$218,845 ▲	6.4%	4,937,000	0.5%	Medical
SCPH scPharmaceuticals	$2,832,000		0.0%	800,000	0.4%	Medical
SCYX SCYNEXIS	$2,706,828		0.0%	2,237,048	0.4%	Medical
NVNO enVVeno Medical	$2,594,968		0.0%	859,261	0.4%	Medical
OPTINOSE INC	$2,493,517	$2,493,517 ▲	New Holding	373,281	0.4%	COM NEW
GEG Great Elm Group	$2,296,722		0.0%	1,268,907	0.3%	Multi-Sector Conglomerates
QTRX Quanterix	$2,126,000		0.0%	200,000	0.3%	Medical
TTEK Tetra Tech	$1,593,600	$6,374,400 ▼	-80.0%	40,000	0.2%	Industrial Products
NOVA Sunnova Energy International	$1,372,000	$1,372,000 ▲	New Holding	400,000	0.2%	Oils/Energy
RAPT RAPT Therapeutics	$908,500	$1,817,000 ▼	-66.7%	575,000	0.1%	Medical
NB NioCorp Developments	$487,421		0.0%	314,465	0.1%	Basic Materials
XAIR Beyond Air	$203,458		0.0%	567,526	0.0%	Medical
AMD Advanced Micro Devices	$0	$28,303,800 ▼	-100.0%	0	0.0%	Computer and Technology
ABT Abbott Laboratories	$0	$19,051,071 ▼	-100.0%	0	0.0%	Medical
FTAI FTAI Aviation	$0	$15,283,500 ▼	-100.0%	0	0.0%	Aerospace
APG APi Group	$0	$14,859,000 ▼	-100.0%	0	0.0%	Business Services
CYTK Cytokinetics	$0	$14,081,760 ▼	-100.0%	0	0.0%	Medical
ALGN Align Technology	$0	$13,453,528 ▼	-100.0%	0	0.0%	Medical
MU Micron Technology	$0	$12,963,750 ▼	-100.0%	0	0.0%	Computer and Technology
TAN Invesco Solar ETF	$0	$12,933,000 ▼	-100.0%	0	0.0%	ETF
Z Zillow Group	$0	$12,770,000 ▼	-100.0%	0	0.0%	Finance
GS The Goldman Sachs Group	$0	$12,377,750 ▼	-100.0%	0	0.0%	Finance
APD Air Products and Chemicals	$0	$12,356,210 ▼	-100.0%	0	0.0%	Basic Materials
GD General Dynamics	$0	$12,088,000 ▼	-100.0%	0	0.0%	Aerospace
LOW Lowe's Companies	$0	$11,456,955 ▼	-100.0%	0	0.0%	Retail/Wholesale
GH Guardant Health	$0	$11,125,900 ▼	-100.0%	0	0.0%	Medical
CPRI Capri	$0	$10,610,000 ▼	-100.0%	0	0.0%	Retail/Wholesale
WMT Walmart	$0	$10,537,875 ▼	-100.0%	0	0.0%	Retail/Wholesale
MTD Mettler-Toledo International	$0	$10,122,975 ▼	-100.0%	0	0.0%	Medical
MGPI MGP Ingredients	$0	$8,322,919 ▼	-100.0%	0	0.0%	Consumer Staples
WSO Watsco	$0	$7,378,200 ▼	-100.0%	0	0.0%	Construction
AER AerCap	$0	$7,104,000 ▼	-100.0%	0	0.0%	Transportation
FLNC Fluence Energy	$0	$6,813,000 ▼	-100.0%	0	0.0%	Oils/Energy
ITB iShares U.S. Home Construction ETF	$0	$6,355,000 ▼	-100.0%	0	0.0%	ETF
ITRI Itron	$0	$5,874,550 ▼	-100.0%	0	0.0%	Computer and Technology
GRMN Garmin	$0	$5,808,990 ▼	-100.0%	0	0.0%	Computer and Technology
CSGP CoStar Group	$0	$4,526,400 ▼	-100.0%	0	0.0%	Computer and Technology
INFY Infosys	$0	$4,454,000 ▼	-100.0%	0	0.0%	Computer and Technology
OPTN OptiNose	$0	$3,751,489 ▼	-100.0%	0	0.0%	Medical
AL Air Lease	$0	$3,396,750 ▼	-100.0%	0	0.0%	Transportation
TPIC TPI Composites	$0	$2,730,000 ▼	-100.0%	0	0.0%	Industrial Products
GE VERNOVA INC	$0	$2,549,800 ▼	-100.0%	0	0.0%	COM
MEG Montrose Environmental Group	$0	$2,104,000 ▼	-100.0%	0	0.0%	Business Services
CURIS INC	$0	$485,100 ▼	-100.0%	0	0.0%	COM

Showing largest 100 holdings. View all holdings.

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Kingdon Capital Management, L.L.C. Top Holdings and 13F Report (2025)

About Kingdon Capital Management, L.L.C.

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

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Kingdon Capital Management, L.L.C. Top Holdings and 13F Report (2025)

About Kingdon Capital Management, L.L.C.

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Map of 500 Largest Holdings ofKingdon Capital Management, L.L.C.

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools