Kingdon Capital Management, L.L.C.
Kingdon Capital Management, L.L.C. is a New York-based hedge fund manager founded by Mark Kingdon in 1983. The firm specializes in managing capital for institutional investors and high-net-worth individuals. Kingdon Capital has developed a reputation as one of the older and more established multi-strategy hedge funds in the United States. Operating out of its headquarters in New York City, the firm’s team focuses on global long/short equity and other strategies related to public securities. As a leading independent investment management firm, Kingdon Capital combines fundamental research with a disciplined risk management approach. The company employs approximately 30 to 50 professionals.
Investment Strategy
Kingdon Capital Management, L.L.C. employs a multi-strategy investment approach with a primary focus on global long/short equity investing. The firm utilizes in-depth fundamental research, seeking to identify undervalued and overvalued securities across multiple sectors and markets. Portfolio managers implement both top-down and bottom-up analysis to construct diversified portfolios, adjusting exposures based on market opportunities and rigorous risk controls. Kingdon is known for its flexible and opportunistic allocation of capital, targeting both U.S. and international markets. The firm emphasizes capital preservation, liquidity, and risk-adjusted returns, striving to deliver consistent performance through varying market cycles for its institutional and high-net-worth clientele.
Top Holdings
Equity Positions (54)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
N NVDA | NVIDIA CORPORATION | 2.90% | $21.6M | 136,500 | $108.38 | $157.99 | +$5.3M |
S SNDX | SYNDAX PHARMACEUTICALS INC | 2.65% | $19.7M | 2,100,000 | $17.07 | $9.37 | -$4.9M |
C CRH | CRH PLC | 2.47% | $18.4M | 200,000 | $83.10 | $91.80 | -$993.4K |
S SNDK | SANDISK CORP | 2.26% | $16.8M | 370,000 | $45.35 | $45.35 | +$16.8M |
W WM | WASTE MGMT INC DEL | 2.16% | $16.0M | 70,000 | $216.41 | $228.82 | +$4.4M |
Options Positions (10)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
K KRE | SPDR SERIES TRUST | New | Call | $59.4M | 10,000 | $59.39 | $59.39 | +10,000 | +$59.4M |
I IWM | ISHARES TR | Bought | Put | $32.4M | 1,500 | $215.79 | $215.79 | +1,500 | +$32.4M |
K KKR | KKR & CO INC | New | Call | $26.6M | 2,000 | $133.03 | $133.03 | +2,000 | +$26.6M |
S SPY | SPDR S&P 500 ETF TR | Sold | Put | $24.7M | 400 | $617.85 | $560.04 | -5,100 | -$283.0M |
E EWJ | ISHARES INC | New | Put | $22.5M | 3,000 | $74.97 | $74.97 | +3,000 | +$22.5M |