LALINDEN ADVISORS LP

Institutional investor · Portfolio as of Q2 2021

Top Holdings821 positions

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Activity:
??BILIBILI INCDelisted
Bond
283M$856.2M4.5%———
New
88
??SEA LTDDelisted
257.7M$796.3M4.2%———
New
88
??BILIBILI INCDelisted
Bond
158.5M$779.4M4.1%——
5 qtrssince 2020-Q2
Increased
61
276.5M$609.6M3.2%——
4 qtrssince 2020-Q3
Increased
61
??MONGODB INCDelisted
Bond
293.4M$531M2.8%———
Increased
57
??SNAP INC
Bond
141.7M$427.4M2.3%——
4 qtrssince 2020-Q3
Decreased
0
??WOLFSPEED INCDelisted
Bond
171.5M$372M2.0%———
New
71
??LIVONGO HEALTH, INC.Delisted
Bond
216.3M$341.5M1.8%———
New
71
274.8M$341M1.8%——
6 qtrssince 2020-Q1
Decreased
0
??Square, Inc.Delisted
Bond
165.1M$340.6M1.8%———
New
71
??PENN NATL GAMING INCDelisted
Bond
96.9M$324.3M1.7%——
5 qtrssince 2020-Q2
Increased
49
??ZILLOW GROUP INCDelisted
Bond
113.5M$318.9M1.7%———
Decreased
0
72.8M$317.8M1.7%———
New
71
216.8M$295M1.6%———
New
71
??FARFETCH LTDDelisted
Bond
86.3M$281.3M1.5%———
New
70
??ZILLOW GROUP INCDelisted
Bond
142.2M$281.3M1.5%——
4 qtrssince 2020-Q3
Increased
49
??Zillow Group IncDelisted
Bond
97.2M$275.2M1.5%——
4 qtrssince 2020-Q3
Decreased
0
??CLOUDFLARE INCDelisted
Bond
95.6M$272.2M1.4%———
New
70
??PINDUODUO INCDelisted
Bond
264M$271.7M1.4%———
Increased
54
??OKTA INCDelisted
Bond
199.5M$248.9M1.3%———
New
70
$18.9B
AUM
821
Positions
Q2 2021
Filing
HI score · 2.0/5
Quarterly 13F Value Change
-33%Q1'20$5.6B+9%Q2'20$6.1B+34%Q3'20$8.2B+62%Q4'20$13.3B+1%Q1'21$13.5B+41%Q2'21$18.9B
Activity profile
$ moved · Q2'21
New65%Increased7%Decreased6%Exited22%
Composition
Equity vs derivatives
Equity100%Puts0%Calls0%
Holding period
Avg 1.3 quarters
<1Q49%1-4Q40%1-2Y8%2Y+3%

LINDEN ADVISORS LP manages $18.9B across 821 positions as of Q2 2021. Top holdings: BILIBILI INC (4.5%), SEA LTD (4.2%), BILIBILI INC (4.1%). Fund DNA: Diversified Scout. HoldingsIntel Score: 2/5.0.

Q2 2021 Summary

Active quarter - 405 new positions, 294 exits, 93 increased. No standout high-conviction moves this quarter. Portfolio: $18.9B across 821 positions.

Top holdings by portfolio weight

Total AUM$19B
BILIBILI INC4.52%
SEA LTD4.20%
BILIBILI INC4.11%
WAYFAIR INC3.22%
MONGODB INC2.80%
SNAP INC2.26%
WOLFSPEED IN1.96%
LIVONGO HEAL1.80%
Exact Scienc1.80%
Square, Inc.1.80%
Other1.71%

Portfolio allocation by GICS sector

Sectors10
Unknown83.20%
Financial Services5.19%
Technology3.35%
Consumer Cyclical2.72%
Industrials2.70%
Healthcare1.28%
Real Estate0.63%
Basic Materials0.53%
Consumer Defensive0.26%
Communication Services0.15%

Behavioral investing profile

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Diversified Scout- primarily Unknown
Compare DNA across all funds
7-dimension, SEC 13F-derived research score
Below Average(2.0 / 5.0)
Holdings P&L57
Conviction31
Concentration37
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Position Outcomes

Best and worst performing positions by estimated return

Cost basis estimates based on full filing history using quarter-end prices. Actual transaction prices are not disclosed in 13F filings.

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Accumulation Streaks

Positions with 2+ consecutive quarters of increases - persistent directional conviction.

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Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer

Verify source filings on SEC EDGAR

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