KINGDON CAPITAL MANAGEMENT, L.L.C.

Kingdon Capital Management, L.L.C. is a hedge fund sponsor based out of New York City, New York. The company was originally established in 1983 by founder Mark E. Kingdon, who is still with the company today acting as its President. Kingdon Capital Management is employee owned with founder Mark E. Kingdon holding over three quarters of the total ownership alone. Kingdon Capital Management conducts its research internally, utilizing a fundamental methodology with both a bottom up and top down investment approach to make its allocation decisions. The company invests in the public equity and fixed income markets on a global scale, utilizing a long short strategy. Kingdon Capital Management invests most heavily in the health care and finance sector, each of which make up over a quarter of the firm’s total asset allocations, and also invests in the consumer discretionary, consumer staples, information technology, and materials sectors, among other sectors to a lesser degree, in order of decreasing allocation. The company holds its allocations for just over three quarters on average and holds its top 10 allocations for 2.7 quarters on average. In the most recent quarter, Kingdon Capital Management has had a turnover rate of approximately 92.1%. The company now operates with 61 total employees of which 28 are investment professionals. Kingdon Capital Management manages over $3 billion in total assets under management spread across 5 total accounts, all of which are discretionary accounts. While the company’s total number of accounts has increased in recent years, Kingdon Capital Management’s total assets under management has been on a slight downward trajectory, declining from over $3.5 billion back in 2012 to its current amount today. The company currently caters exclusively to pooled investment vehicles. Kingdon Capital Management takes advisory fees in the form of a percentage of assets and various performance based fees.