{
  "crd_number": 157509,
  "slug": "kingdon-capital-management-l-l-c-new-york-ny-157509",
  "primary_business_name": "KINGDON CAPITAL MANAGEMENT, L.L.C.",
  "legal_name": "KINGDON CAPITAL MANAGEMENT, L.L.C.",
  "dbas": [],
  "city": "New York",
  "state": "NY",
  "country": "United States",
  "cbsa_code": "35620",
  "metro": {
    "cbsa_code": "35620",
    "common_name": "New York",
    "msa_name": "New York-Newark-Jersey City, NY-NJ",
    "path": "/advisors/ny/new-york"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2012-03-30",
  "years_registered": 14,
  "period": "2026-10-01",
  "filing_date": "2026-03-30",
  "carried_forward": false,
  "raum_total": 959762020.0,
  "raum_discretionary": 959762020.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "500m_1b",
  "raum_band_label": "$500 million to $1 billion",
  "total_employees": 19,
  "advisory_employees": 10,
  "client_count_bucket": null,
  "clients_by_type": {
    "pooled_investment_vehicles": {
      "raum": 959762020.0,
      "count": 8
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_pooled_vehicles",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 1,
  "states_registered": [
    "NY"
  ],
  "websites": [
    "https://kingdon.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/157509",
  "disclosure_items": [
    {
      "item": "11.G",
      "question": "Is the firm or an advisory affiliate now the subject of a regulatory proceeding that could result in a yes answer to any part of 11.C, 11.D, or 11.E?"
    }
  ],
  "city_as_filed": "NEW YORK",
  "url": "https://advisorcensus.com/firm/kingdon-capital-management-l-l-c-new-york-ny-157509",
  "display_name": "Kingdon Capital Management, L.L.C.",
  "summary": "Kingdon Capital Management, L.L.C. is an SEC-registered investment advisory firm in New York, NY, registered since 2012, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.",
  "citation": "AdvisorCensus. Kingdon Capital Management, L.L.C. (CRD 157509): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients",
    "Selection of other advisers (including private fund managers)"
  ],
  "quick_answers": [
    {
      "q": "How is Kingdon Capital Management, L.L.C. compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Kingdon Capital Management, L.L.C. reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is Kingdon Capital Management, L.L.C. located?",
      "a": "Kingdon Capital Management, L.L.C.'s principal office is in New York, NY, according to its Form ADV."
    },
    {
      "q": "Is Kingdon Capital Management, L.L.C. registered with the SEC or a state?",
      "a": "Kingdon Capital Management, L.L.C. is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 157509."
    },
    {
      "q": "How much does Kingdon Capital Management, L.L.C. manage?",
      "a": "Kingdon Capital Management, L.L.C. reports $959,762,020 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (100% discretionary)."
    },
    {
      "q": "How have Kingdon Capital Management, L.L.C.'s assets and staff changed since 2021?",
      "a": "In the Form ADV data for Kingdon Capital Management, L.L.C.: Regulatory assets under management: $1,080,226,134 in the October 2021 data and $959,762,020 in the October 2026 data, down 11%. Total employees: 25 in October 2021 and 19 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Kingdon Capital Management, L.L.C. serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (8)."
    },
    {
      "q": "Does Kingdon Capital Management, L.L.C. report any disciplinary disclosures?",
      "a": "Reports 1 disclosure item on Form ADV Item 11: yes answers to 11.G (pending regulatory proceeding). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/157509"
    },
    {
      "q": "What changed in Kingdon Capital Management, L.L.C.'s recent Form ADV filings?",
      "a": "In the April 2026 filing data: Employees performing advisory functions went from 9 to 10. Regulatory assets under management went from $861,883,044 to $959,762,020 (+11%)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 1080226134.0,
      "total_employees": 25,
      "filing_date": "2021-03-30"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 1145013599.0,
      "total_employees": 23,
      "filing_date": "2022-03-30"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 815686434.0,
      "total_employees": 21,
      "filing_date": "2023-03-24"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 823482990.0,
      "total_employees": 19,
      "filing_date": "2024-09-13"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 861883044.0,
      "total_employees": 19,
      "filing_date": "2025-03-24"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 959762020.0,
      "total_employees": 19,
      "filing_date": "2026-03-30"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 9 to 10.",
        "Regulatory assets under management went from $861,883,044 to $959,762,020 (+11%)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/kingdon-capital-management-l-l-c-new-york-ny-157509.md",
  "clients": [
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 8,
      "fewer_than_5": false,
      "raum": 959762020.0
    }
  ],
  "disclosure_line": "Reports 1 disclosure item on Form ADV Item 11.",
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/157509",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}