Kingdon Capital Management's Q3 2022 vs. Q4 2022 13F Holdings: Changes and Trends

Investment management firms regularly file Form 13F with the Securities and Exchange Commission (SEC), which lists their stock holdings every quarter. These filings provide investors with valuable insights into the portfolio mix of hedge funds and other investors. This blog post takes a closer look at Kingdon Capital Management's Q3 2022 vs. Q4 2022 13F holdings to identify trends in the fund's investment strategy.

Kingdon Capital Management's Holdings Overview

Kingdon Capital Management, L.L.C. is a hedge fund based in New York City. It was founded in 1983 by Mark Kingdon, a former senior portfolio manager at Citigroup. The firm manages approximately $7.3 billion in assets, primarily in equities. Kingdon is known for its multi-strategy approach, which aims to generate alpha through various investment styles and geographies.

According to the latest filing, Kingdon Capital Management held 61 securities with a total value of $1.56 billion at the end of Q4 2022, down from 62 securities valued at $1.59 billion at the end of Q3 2022. The top 10 holdings accounted for 46.6% of the portfolio, while the top three sectors were Healthcare (25.2%), Financials (21.3%), and Information Technology (19.4%).

Major Changes in Kingdon's Holdings

Kingdon Capital Management made some significant changes to its portfolio during Q4 2022. Some of the major moves are highlighted below:

BOEING CO (BA): Kingdon Capital Management initiated a new position in Boeing, buying 133,700 shares in Q4 2022.

BECTON DICKINSON & CO (BDX): The hedge fund also added 89,100 shares of Becton Dickinson to its portfolio.

FERGUSON PLC NEW (FERG): Kingdon Capital Management increased its position in plumbing and heating products distributor Ferguson by 108.6%, adding 71,625 shares to bring the total to 175,225 shares.

IVERIC BIO INC (ISEE): Kingdon Capital Management liquidated its entire stake in Iveric Bio, selling all 853,000 shares.

API GROUP CORP (APG): The fund made a new investment in API Group, buying 949,482 shares.

RAPT THERAPEUTICS INC (RAPT): Kingdon Capital Management increased its position in biotech Rapt Therapeutics by 7.2%, adding 204,383 shares to bring the total to 880,000 shares.

APOLLO GLOBAL MGMT INC (APO): The fund made a major move in Apollo Global Management, increasing its position by 243%, buying 90,000 shares to bring the total to 150,000 shares.

ARAMARK (ARMK): Kingdon Capital Management decreased its stake in food and facilities management company Aramark by 11.7%, selling 150,000 shares.

TAKEAWAY

Kingdon Capital Management's Q3 2022 vs. Q4 2022 13F filings reveal some interesting trends in its investment strategy. The hedge fund made some notable investments and liquidated some positions. The biggest changes involved adding new positions in Boeing and API Group and increasing its position in Apollo Global Management and Rapt Therapeutics. Meanwhile, Kingdon Capital Management sold all its shares in Iveric Bio and reduced its holdings in Aramark. It remains to be seen if these moves will pan out for Kingdon Capital Management in the year ahead.