Fund Holdings

KINGDON CAPITAL MANAGEMENT, L.L.C.

Filing Period:
Securities
SharesValue ($K)
Q4 2025
Q1 2026
Change
Q4 2025
Q1 2026
Weight (%)
Change
STATE STR SPDR S&P 500 ETF T(SPY)(Put)0285,000+285,0000185,346,900+185,346,900
ISHARES TR(Put)0100,000+100,000024,800,000+24,800,000
ISHARES TR(Put)
MSCI USA MMENTM
065,000+65,000015,599,350+15,599,350
ISHARES TR0700,000+700,000012,803,0002.14%+12,803,000
GARRETT MOTION INC(GTX)0700,000+700,000012,719,0002.13%+12,719,000
AERCAP HOLDINGS NV(AER)090,000+90,000012,346,2002.07%+12,346,200
DARLING INGREDIENTS INC(DAR)0190,000+190,000011,751,5001.97%+11,751,500
BROOKDALE SR LIVING INC(BKD)0850,000+850,000011,628,0001.95%+11,628,000
VSE CORP(VSEC)060,000+60,000011,064,0001.85%+11,064,000
ROBINHOOD MKTS INC(HOOD)(Call)0150,000+150,000010,395,000+10,395,000
CRANE COMPANY(CR)060,000+60,000010,260,0001.72%+10,260,000
SELECT SECTOR SPDR TR(Put)
ST STR FINL ETF
0200,000+200,00009,874,000+9,874,000
ACADIA HEALTHCARE COMPANY IN(ACHC)0396,192+396,19209,266,9311.55%+9,266,931
COGNEX CORP(CGNX)0185,000+185,00009,063,1501.52%+9,063,150
SYNDAX PHARMACEUTICALS INC(SNDX)2,350,0002,500,000+150,00049,373,50058,400,0009.78%+9,026,500
GE AEROSPACE(GE)(Call)030,000+30,00008,513,100+8,513,100
NVIDIA CORPORATION(NVDA)145,000200,000+55,00027,042,50034,880,0005.84%+7,837,500
AAR CORP40,000100,000+60,0003,311,60010,946,0001.83%+7,634,400
COLLECTIVE MINING LTD(CNL)0425,000+425,00007,484,2501.25%+7,484,250
ISHARES INC(Put)75,000120,000+45,0007,291,50014,761,200+7,469,700
NU HLDGS LTD(NU)(Call)0500,000+500,00007,185,000+7,185,000
GENESCO INC0244,000+244,00007,073,5601.18%+7,073,560
GXO LOGISTICS INCORPORATED(GXO)0125,000+125,00006,481,2501.09%+6,481,250
VICOR CORP(VICR)(Call)040,000+40,00006,440,000+6,440,000
CREDO TECHNOLOGY GROUP HOLDI
ORDINARY SHARES
065,000+65,00006,101,5501.02%+6,101,550
NEXGEN ENERGY LTD(NXE)2,500,0002,500,000023,000,00029,000,0004.86%+6,000,000
TRAVERE THERAPEUTICS INC(TVTX)(Put)0200,000+200,00005,942,000+5,942,000
FORGENT POWER SOLUTIONS INC(FPS)0200,000+200,00005,854,0000.98%+5,854,000
FLEXTRONICS INTL LTD(FLEX)95,000175,000+80,0005,739,90011,455,5001.92%+5,715,600
LOWES COS INC(LOW)021,250+21,25005,020,9500.84%+5,020,950
AMERICAN HEALTHCARE REIT INC(AHR)200,000300,000+100,0009,412,00014,148,0002.37%+4,736,000
ETORO GROUP LTD(ETOR)(Call)0150,000+150,00004,504,500+4,504,500
API GROUP CORP(APG)375,000450,000+75,00014,347,50018,234,0003.05%+3,886,500
SERVICENOW INC(NOW)(Call)035,000+35,00003,659,250+3,659,250
THE REALREAL INC(REAL)0400,000+400,00003,632,0000.61%+3,632,000
VICOR CORP(VICR)020,000+20,00003,220,0000.54%+3,220,000
TAIWAN SEMICONDUCTOR MANUFAC(TSM)40,00045,000+5,00012,155,60015,207,7502.55%+3,052,150
COMPASS INC(COMP)(Call)0400,000+400,00002,924,000+2,924,000
ICON PLC(ICLR)50,600105,300+54,7009,220,33211,652,4981.95%+2,432,166
ZEVRA THERAPEUTICS INC585,069775,000+189,9315,242,2187,223,0001.21%+1,980,782
SCYNEXIS INC01,982,491+1,982,49101,817,7460.30%+1,817,746
ELEDON PHARMACEUTICALS INC1,039,2751,039,27501,569,3053,200,9670.54%+1,631,662
JASPER THERAPEUTICS INC01,352,106+1,352,10601,184,7150.20%+1,184,715
SOLENO THERAPEUTICS INC399,900575,000+175,10018,515,37019,251,0003.22%+735,630
WELLTOWER INC(WELL)50,00050,00009,280,5009,885,5001.66%+605,000
ALIGHT INC(ALIT)(Call)0900,000+900,0000524,430+524,430
ENVVENO MEDICAL CORPORATION036,166+36,1660366,3620.06%+366,362
NIOCORP DEVS LTD314,465450,000+135,5351,666,6652,007,0000.34%+340,335
MAPLEBEAR INC(CART)390,000470,000+80,00017,542,20017,606,2002.95%+64,000
HOWMET AEROSPACE INC(HWM)80,00070,000-10,00016,401,60016,132,2002.70%-269,400
ENVVENO MEDICAL CORPORATION1,265,8450-1,265,845406,0830-406,083
WARBY PARKER INC(WRBY)1,053,6441,053,644022,958,90322,200,2793.72%-758,624
RALLIANT CORP(RAL)220,000250,000+30,00011,200,20010,397,5001.74%-802,700
INFOSYS LTD(INFY)(Put)71,5000-71,5001,274,1300-1,274,130
AXON ENTERPRISE INC(AXON)13,50014,500+1,0007,667,0556,158,0051.03%-1,509,050
PURECYCLE TECHNOLOGIES INC(PCT)200,0000-200,0001,718,0000-1,718,000
ISHARES INC115,00075,000-40,00011,180,3009,225,7501.54%-1,954,550
HEICO CORP NEW(HEI)40,00040,000012,943,60010,968,0001.84%-1,975,600
TETRA TECH INC NEW(TTEK)150,000100,000-50,0005,031,0003,012,0000.50%-2,019,000
EVERUS CONSTR GROUP(ECG)200,000125,000-75,00017,112,00014,757,5002.47%-2,354,500
ITRON INC(ITRI)50,00025,000-25,0004,643,0002,240,7500.38%-2,402,250
WAYSTAR HLDG CORP(WAY)414,549438,000+23,45113,576,48010,560,1801.77%-3,016,300
ALIBABA GROUP HLDG LTD(BABA)100,00090,000-10,00014,658,00011,291,4001.89%-3,366,600
KEYSIGHT TECHNOLOGIES INC(KEYS)130,00080,000-50,00026,414,70022,589,6003.78%-3,825,100
CURTISS WRIGHT CORP(CW)7,0000-7,0003,858,8900-3,858,890
COASTAL FINL CORP WA(CCB)40,0000-40,0004,583,6000-4,583,600
VANECK ETF TRUST(Put)
SEMICONDUCTR ETF
50,00035,000-15,00018,006,50013,419,000-4,587,500
TELEDYNE TECHNOLOGIES INC(TDY)30,00017,500-12,50015,321,90010,587,6751.77%-4,734,225
SPORTRADAR GROUP AG(SRAD)674,000674,000016,020,98011,282,7601.89%-4,738,220
OKTA INC(OKTA)55,0000-55,0004,755,8500-4,755,850
WOLVERINE WORLD WIDE INC(WWW)657,500436,000-221,50011,933,6257,115,5201.19%-4,818,105
INVESCO EXCH TRADED FD TR II
SOLAR ETF
100,0000-100,0004,912,0000-4,912,000
WESTERN DIGITAL CORP(WDC)30,0000-30,0005,168,1000-5,168,100
PERIMETER SOLUTIONS INC(PRM)200,0000-200,0005,506,0000-5,506,000
HIMS & HERS HEALTH INC(HIMS)170,0000-170,0005,519,9000-5,519,900
ALDEYRA THERAPEUTICS INC1,850,0002,152,315+302,3159,583,0003,637,4120.61%-5,945,588
US FOODS HLDG CORP(USFD)85,0000-85,0006,402,2000-6,402,200
ALCON AG(ALC)88,4800-88,4806,973,1090-6,973,109
RADNET INC(RDNT)110,0000-110,0007,848,5000-7,848,500
ILLUMINA INC(ILMN)62,7000-62,7008,223,7320-8,223,732
HCI GROUP INC45,0000-45,0008,626,0500-8,626,050
BANK AMERICA CORP165,0000-165,0009,075,0000-9,075,000
NXP SEMICONDUCTORS N V
COM
45,0000-45,0009,767,7000-9,767,700
UL SOLUTIONS INC(ULS)125,0000-125,0009,857,5000-9,857,500
LOAR HOLDINGS INC(LOAR)150,0000-150,00010,200,0000-10,200,000
CARRIER GLOBAL CORPORATION(CARR)200,0000-200,00010,568,0000-10,568,000
UPSTART HLDGS INC(UPST)(Call)250,0000-250,00010,932,5000-10,932,500
ALIBABA GROUP HLDG LTD(BABA)(Put)75,0000-75,00010,993,5000-10,993,500
OLEMA PHARMACEUTICALS INC(OLMA)953,600855,000-98,60023,840,00012,748,0502.13%-11,091,950
WALMART INC(WMT)100,0000-100,00011,141,0000-11,141,000
MOLSON COORS BEVERAGE CO(TAP)240,2000-240,20011,212,5360-11,212,536
ALPHABET INC(GOOG)37,5000-37,50011,737,5000-11,737,500
ADVANCED MICRO DEVICES INC(AMD)(Put)62,5000-62,50013,385,0000-13,385,000
LIBERTY MEDIA CORP DEL(FWONA)140,0000-140,00013,791,4000-13,791,400
ADVANCED MICRO DEVICES INC(AMD)70,0000-70,00014,991,2000-14,991,200
KKR & CO INC(KKR)(Call)125,0000-125,00015,935,0000-15,935,000
BANK AMERICA CORP(Call)300,0000-300,00016,500,0000-16,500,000
INVESCO EXCH TRADED FD TR II(Call)
SOLAR ETF
350,0000-350,00017,192,0000-17,192,000
CRH PLC
ORD
150,0000-150,00018,720,0000-18,720,000
NVIDIA CORPORATION(NVDA)(Put)115,0000-115,00021,447,5000-21,447,500
Page 1 of 2