Q4 2025 · 13F-HR
KINGDON CAPITAL MANAGEMENT, L.L.C.holdings as filed
Filed 2026-02-17 · accession 0001000097-26-000002
$841.2M
Reported value
68
Positions
2025-12-31
Period end
The Brief · KINGDON CAPITAL MANAGEMENT, L.L.C. · Q4 2025
AI · grounded in 13F
KINGDON CAPITAL MANAGEMENT, L.L.C. closed its position in QQQ, reducing exposure by $51.03M. The fund established several new positions, most notably in SLV with a $54.76M investment and AMD at $28.38M. Additionally, the manager increased its stake in NVDA by 121.28% and opened new positions in KEYS and BABA.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 46428Q109 | SLV | ISHARES SILVER TR | $54.8M | 6.51% | 850,000 | PUT | SOLE |
| 87164F105 | SNDX | SYNDAX PHARMACEUTICALS INC | $49.4M | 5.87% | 2,350,000 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $27.0M | 3.21% | 145,000 | Common | SOLE |
| 49338L103 | KEYS | KEYSIGHT TECHNOLOGIES INC | $26.4M | 3.14% | 130,000 | Common | SOLE |
| 68062P106 | OLMA | OLEMA PHARMACEUTICALS INC | $23.8M | 2.83% | 953,600 | Common | SOLE |
| 65340P106 | NXE | NEXGEN ENERGY LTD | $23.0M | 2.73% | 2,500,000 | Common | SOLE |
| 93403J106 | WRBY | WARBY PARKER INC | $23.0M | 2.73% | 1,053,644 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $21.4M | 2.55% | 115,000 | PUT | SOLE |
| G25508105 | CRH | CRH PLC | $18.7M | 2.23% | 150,000 | Common | SOLE |
| 834203309 | SLNO | SOLENO THERAPEUTICS INC | $18.5M | 2.20% | 399,900 | Common | SOLE |
| 92189F676 | SMH | VANECK ETF TRUST | $18.0M | 2.14% | 50,000 | PUT | SOLE |
| 565394103 | CART | MAPLEBEAR INC | $17.5M | 2.09% | 390,000 | Common | SOLE |
| 46138G706 | TAN | INVESCO EXCH TRADED FD TR II | $17.2M | 2.04% | 350,000 | CALL | SOLE |
| 300426103 | ECG | EVERUS CONSTR GROUP | $17.1M | 2.03% | 200,000 | Common | SOLE |
| 060505104 | BAC | BANK AMERICA CORP | $16.5M | 1.96% | 300,000 | CALL | SOLE |
| 443201108 | HWM | HOWMET AEROSPACE INC | $16.4M | 1.95% | 80,000 | Common | SOLE |
| H8088L103 | SRAD | SPORTRADAR GROUP AG | $16.0M | 1.90% | 674,000 | Common | SOLE |
| 48251W104 | KKR | KKR & CO INC | $15.9M | 1.89% | 125,000 | CALL | SOLE |
| 879360105 | TDY | TELEDYNE TECHNOLOGIES INC | $15.3M | 1.82% | 30,000 | Common | SOLE |
| 007903107 | AMD | ADVANCED MICRO DEVICES INC | $15.0M | 1.78% | 70,000 | Common | SOLE |
| 01609W102 | BABA | ALIBABA GROUP HLDG LTD | $14.7M | 1.74% | 100,000 | Common | SOLE |
| 00187Y100 | APG | API GROUP CORP | $14.3M | 1.71% | 375,000 | Common | SOLE |
| 531229755 | FWONK | LIBERTY MEDIA CORP DEL | $13.8M | 1.64% | 140,000 | Common | SOLE |
| 946784105 | WAY | WAYSTAR HLDG CORP | $13.6M | 1.61% | 414,549 | Common | SOLE |
| 007903107 | AMD | ADVANCED MICRO DEVICES INC | $13.4M | 1.59% | 62,500 | PUT | SOLE |
| 422806109 | HEI | HEICO CORP NEW | $12.9M | 1.54% | 40,000 | Common | SOLE |
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $12.2M | 1.45% | 40,000 | Common | SOLE |
| 978097103 | WWW | WOLVERINE WORLD WIDE INC | $11.9M | 1.42% | 657,500 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $11.7M | 1.40% | 37,500 | Common | SOLE |
| 60871R209 | TAP | MOLSON COORS BEVERAGE CO | $11.2M | 1.33% | 240,200 | Common | SOLE |
| 750940108 | RAL | RALLIANT CORP | $11.2M | 1.33% | 220,000 | Common | SOLE |
| 464286772 | EWY | ISHARES INC | $11.2M | 1.33% | 115,000 | Common | SOLE |
| 931142103 | WMT | WALMART INC | $11.1M | 1.32% | 100,000 | Common | SOLE |
| 01609W102 | BABA | ALIBABA GROUP HLDG LTD | $11.0M | 1.31% | 75,000 | PUT | SOLE |
| 91680M107 | UPST | UPSTART HLDGS INC | $10.9M | 1.30% | 250,000 | CALL | SOLE |
| 14448C104 | CARR | CARRIER GLOBAL CORPORATION | $10.6M | 1.26% | 200,000 | Common | SOLE |
| 53947R105 | LOAR | LOAR HOLDINGS INC | $10.2M | 1.21% | 150,000 | Common | SOLE |
| 903731107 | ULS | UL SOLUTIONS INC | $9.9M | 1.17% | 125,000 | Common | SOLE |
| N6596X109 | NXPI | NXP SEMICONDUCTORS N V | $9.8M | 1.16% | 45,000 | Common | SOLE |
| 01438T106 | ALDX | ALDEYRA THERAPEUTICS INC | $9.6M | 1.14% | 1,850,000 | Common | SOLE |
| 398182303 | AHR | AMERICAN HEALTHCARE REIT INC | $9.4M | 1.12% | 200,000 | Common | SOLE |
| 95040Q104 | WELL | WELLTOWER INC | $9.3M | 1.10% | 50,000 | Common | SOLE |
| G4705A100 | ICLR | ICON PLC | $9.2M | 1.10% | 50,600 | Common | SOLE |
| 060505104 | BAC | BANK AMERICA CORP | $9.1M | 1.08% | 165,000 | Common | SOLE |
| 40416E103 | HCI | HCI GROUP INC | $8.6M | 1.03% | 45,000 | Common | SOLE |
| 452327109 | ILMN | ILLUMINA INC | $8.2M | 0.98% | 62,700 | Common | SOLE |
| 750491102 | RDNT | RADNET INC | $7.8M | 0.93% | 110,000 | Common | SOLE |
| 05464C101 | AXON | AXON ENTERPRISE INC | $7.7M | 0.91% | 13,500 | Common | SOLE |
| 464286772 | EWY | ISHARES INC | $7.3M | 0.87% | 75,000 | PUT | SOLE |
| H01301128 | ALC | ALCON AG | $7.0M | 0.83% | 88,480 | Common | SOLE |
| 912008109 | USFD | US FOODS HLDG CORP | $6.4M | 0.76% | 85,000 | Common | SOLE |
| Y2573F102 | FLEX | FLEX LTD | $5.7M | 0.68% | 95,000 | Common | SOLE |
| 433000106 | HIMS | HIMS & HERS HEALTH INC | $5.5M | 0.66% | 170,000 | Common | SOLE |
| 71385M107 | PRM | PERIMETER SOLUTIONS INC | $5.5M | 0.65% | 200,000 | Common | SOLE |
| 488445206 | ZVRA | ZEVRA THERAPEUTICS INC | $5.2M | 0.62% | 585,069 | Common | SOLE |
| 958102105 | WDC | WESTERN DIGITAL CORP | $5.2M | 0.61% | 30,000 | Common | SOLE |
| 88162G103 | TTEK | TETRA TECH INC NEW | $5.0M | 0.60% | 150,000 | Common | SOLE |
| 46138G706 | TAN | INVESCO EXCH TRADED FD TR II | $4.9M | 0.58% | 100,000 | Common | SOLE |
| 679295105 | OKTA | OKTA INC | $4.8M | 0.57% | 55,000 | Common | SOLE |
| 465741106 | ITRI | ITRON INC | $4.6M | 0.55% | 50,000 | Common | SOLE |
| 19046P209 | CCB | COASTAL FINL CORP WA | $4.6M | 0.54% | 40,000 | Common | SOLE |
| 231561101 | CW | CURTISS WRIGHT CORP | $3.9M | 0.46% | 7,000 | Common | SOLE |
| 000361105 | AIR | AAR CORP | $3.3M | 0.39% | 40,000 | Common | SOLE |
| 74623V103 | PCT | PURECYCLE TECHNOLOGIES INC | $1.7M | 0.20% | 200,000 | Common | SOLE |
| 654484609 | NB | NIOCORP DEVS LTD | $1.7M | 0.20% | 314,465 | Common | SOLE |
| 28617K101 | ELDN | ELEDON PHARMACEUTICALS INC | $1.6M | 0.19% | 1,039,275 | Common | SOLE |
| 456788108 | INFY | INFOSYS LTD | $1.3M | 0.15% | 71,500 | PUT | SOLE |
| 29415J106 | NVNO | ENVVENO MEDICAL CORPORATION | $406,083 | 0.05% | 1,265,845 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.