KINGDON CAPITAL MANAGEMENT, L.L.C.

Q4 2025 13F-HR Holdings

Location
New York, NY
Holdings as of
12/31/2025
Date filed
2/17/2026
Form type
13F-HR
Num holdings
68
Total value ($000)
$841,184
Net value change ($000)
+35,461 (4.4%)
New positions
18
Sold out positions
25
Turnover %
57.4%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/14/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
KEYS 26,415 NEW
OLMA 15,479 185.1%
AMD 14,991 NEW
BABA 14,658 NEW
WAY 13,576 NEW
WRBY 13,306 137.8%
SNDX 10,911 28.4%
CARR 10,568 NEW
AHR 9,412 NEW
ICLR 9,220 NEW
Top Reduces (Value $000, Stocks/ETFs)
MOH -21,088 -100.0%
EW -19,551 -100.0%
HUM -18,368 -100.0%
BLDR -18,188 -100.0%
GMED -14,756 -100.0%
MSFT -14,244 -100.0%
META -11,750 -100.0%
SKY -11,456 -100.0%
ETR -10,717 -100.0%
PANW -9,163 -100.0%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 187,717 (22.3% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type