The article examines the role of natural kinds in semantic theorizing, which has largely been conducted in isolation from relevant work in science, metaphysics, and philosophy of science. We argue that the Kripke–Putnam account of natural kind terms, despite recent claims to the contrary, depends on a certain metaphysics of natural kinds; that the metaphysics usually assumed—micro-essentialism—is untenable even in a ‘placeholder’ version; and that the currently popular homeostatic property cluster theory of natural kinds is correct only to an extent (...) that fails to vindicate the Kripke–Putnam account. This undermines the metasemantics required for anti-descriptivist semantics. _1_ Introduction _2_ From Semantics to Metaphysics _3_ Metaphysics, Part I: The Demise of Micro-essentialism _3.1_ Original micro-essentialism _3.2_ Placeholder essentialism _4_ Metaphysics, Part II: Homeostatic Property Cluster Theory _5_ Prospects for Natural Kind Term Semantics. (shrink)