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Kingdon Capital Management
Kingdon Capital Management is an SEC-registered investment adviser in NEW YORK, NY, registered since 2012. The firm manages approximately $960 million in...
Overview
Kingdon Capital Management is an SEC-registered investment adviser in NEW YORK, NY, registered since 2012. The firm manages approximately $960 million in assets. It has 19 employees and 10 investment advisers.
General information
Firm type
Asset Manager
Year founded
1983
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Mark Kingdon
Founder, President, and CEO
Sector focus
Frequently asked questions
Who runs investment decisions at Kingdon Capital Management?
Mark Kingdon, the founder, serves as President, CEO, and sole Chief Investment Officer. All portfolio decisions flow through him. The firm has not announced a succession plan or named a co-CIO, which means key-person risk is a material consideration for allocators evaluating the fund. Kingdon has run the book continuously since 1983.
Does Kingdon participate in private markets or only public equities?
Kingdon is primarily a public-markets manager, focused on liquid, large-cap equities to preserve daily liquidity for investors. The firm has periodically participated in pre-IPO rounds and PIPEs, but it has not built a dedicated private equity, venture capital, or private credit vehicle. There is no permanent capital arm.
How has Kingdon Capital Management survived multiple market cycles since 1983?
The firm's longevity owes to three factors: a derivatives-informed hedging discipline, a concentrated book that avoids over-diversification, and a founder-CIO model that eliminates committee decision-making during crisis moments. Kingdon managed through the 1987 crash, the 2000 dot-com bust, and the 2008 financial crisis without closing or suspending redemptions, a record few hedge funds of its vintage can claim.
Form ADV details
As reported on Form ADV filed (SEC file number 801-73482, CRD 157509).
- Regulatory AUM
- $959.8MForm ADV Item 5.F(2)(c)
- Accounts
- 8Form ADV Item 5.F(2)(f)
- Employees
- 19Form ADV Item 5.A
- Average account (calculated)
- $120.0MCalculated by Altss from Form ADV: regulatory AUM divided by accounts
- SEC registration status at filing
- Approved
- Current status effective since
- Latest Form ADV filing
- Employees performing investment advisory functions (Item 5.B(1))
- 10
- Employees registered with a state as investment adviser representatives (Item 5.B(3))
- 0
- Compensation arrangements reported
- A percentage of assets under management
- Performance-based fees
- Advisory services reported
- Portfolio management for individuals and small businesses
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses and institutional clients
- Selection of other advisers
| Client type | Clients | Regulatory AUM | Share (calculated) |
|---|---|---|---|
| Pooled investment vehicles | 8 | $959.8M | 100.0% |
Limits of this data
- As reported on Form ADV, not verified by Altss and not approved by the SEC.
- Regulatory AUM is as defined in Form ADV Part 1A Instruction 5.b.
- Staff counts (Item 5.A and 5.B) overlap and must not be added together.
Source: SEC Information About Registered Investment Advisers and Exempt Reporting Advisers (Form ADV) (Form ADV public dataset, file ia100226 (published 2026-10-02)). Read by Altss on .
Form 13F holdings
As reported on Form 13F for the quarter ended , filed (CIK 1000097, 13F file number 028-04575, CRD 157509).
- Total reported value
- $976.2MForm 13F, quarter ended Jun 30, 2026. Long positions only
- Positions
- 74+7 vs prior quarter (calculated)
- Change vs prior quarter (calculated)
- +7.2%Calculated by Altss from Form 13F: total reported value vs the quarter ended Mar 31, 2026
- Form type
- 13F-HR
- Period of report
- Filed
- Other included managers
- 0
- Total reported value, quarter ended Mar 31, 2026
- $911.0M
Scroll horizontally to view all columns.
| Issuer | Class | Value | Share of reported portfolio (calculated) |
|---|---|---|---|
| ISHARES TR | ISHARES SEMICDTR (Put option) (Put option) | $83.3M | 8.5% |
| SYNDAX PHARMACEUTICALS INC | COM | $54.6M | 5.6% |
| NVIDIA CORPORATION | COM | $48.0M | 4.9% |
| WARBY PARKER INC | CL A COM | $34.2M | 3.5% |
| API GROUP CORP | COM STK | $25.4M | 2.6% |
| KEYSIGHT TECHNOLOGIES INC | COM | $24.5M | 2.5% |
| NEXGEN ENERGY LTD | COM | $23.5M | 2.4% |
| ISHARES INC | MSCI STH KOR ETF (Put option) (Put option) | $23.2M | 2.4% |
| GRAIL INC | COM | $23.2M | 2.4% |
| INVESCO QQQ TR | UNIT SER 1 (Put option) (Put option) | $22.1M | 2.3% |
Limits of this data
- Long positions only, as reported on Form 13F for the quarter ended June 30, 2026
- Not total assets under management: Form 13F excludes short positions, cash and securities that are not Section 13(f) securities
- As filed by the manager, not verified by Altss, not approved by the SEC
- Percentages and changes are calculated by Altss from the reported values; value changes mix market moves with position changes
- Put and call rows are reported against the underlying security and are labelled
Source: SEC Form 13F Data Sets (01jun2026-31aug2026 (filings 2026-06-01 to 2026-08-31); period of report 2026-06-30). Read by Altss on .
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