LALINDEN ADVISORS LP

Institutional investor · Portfolio as of Q4 2020

SEC EDGAR SourceSEC Filings

Top Holdings481 positions

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Activity:
Stock
Shares
Value
Weight
Avg Buy
Est. P&L
Held
Conviction
??PINDUODUO INCDelisted
Bond
296.8M$1.2B9.2%——
2 qtrssince 2020-Q3
Decreased
0
??MERCADOLIBRE INCDelisted
Bond
241.6M$918.4M6.9%——
6 qtrssince 2019-Q3
Decreased
0
??SEA LTDDelisted
Bond
204.9M$812.3M6.1%———
New
98
??BILIBILI INCDelisted
Bond
148.8M$515.5M3.9%——
3 qtrssince 2020-Q2
Decreased
0
??ZILLOW GROUP INCDelisted
Bond
156.1M$467M3.5%———
New
87
??SNAP INCDelisted
Bond
187.3M$424.9M3.2%——
2 qtrssince 2020-Q3
Increased
86
??ZILLOW GROUP INCDelisted
Bond
136.6M$411.4M3.1%——
2 qtrssince 2020-Q3
Decreased
0
??EXACT SCIENCES CORPDelisted
Bond
285M$372.2M2.8%——
4 qtrssince 2020-Q1
Decreased
0
??WAYFAIR INCDelisted
Bond
182.6M$306.8M2.3%——
2 qtrssince 2020-Q3
Increased
67
76.4M$288.8M2.2%——
3 qtrssince 2020-Q2
Increased
64
??CHEGG INCDelisted
Bond
149.7M$272M2.0%——
3 qtrssince 2020-Q2
Decreased
0
??COUPA SOFTWARE INCDelisted
Bond
107.5M$234.3M1.8%——
3 qtrssince 2020-Q2
Decreased
0
??ZILLOW GROUP INCDelisted
Bond
108.6M$226.4M1.7%——
2 qtrssince 2020-Q3
Increased
73
??PDD HOLDINGS INCDelisted
Bond
170.5M$210.7M1.6%———
New
70
??SPLUNK INCDelisted
Bond
146.9M$198.5M1.5%——
6 qtrssince 2019-Q3
Decreased
0
??BLACKLINE INCDelisted
Bond
102.7M$193.2M1.4%——
2 qtrssince 2020-Q3
Increased
51
??ETSY INCDelisted
Bond
76.3M$161.9M1.2%——
2 qtrssince 2020-Q3
Increased
53
??Q2 HLDGS INCDelisted
Bond
102.5M$157.2M1.2%——
3 qtrssince 2020-Q2
Increased
48
??GDS HOLDINGS LIMITEDDelisted
Bond
77.9M$147.5M1.1%——
7 qtrssince 2019-Q2
Decreased
0
149M$142.5M1.1%——
8 qtrssince 2019-Q1
Decreased
0
$13.4B
AUM
481
Positions
Q4 2020
Filing
Rating · 2.0
Quarterly Portfolio Change
+13%Q3'19$7.4B+14%Q4'19$8.4B-33%Q1'20$5.6B+10%Q2'20$6.2B+34%Q3'20$8.3B+61%Q4'20$13.4B
Activity profile
$ moved · Q4'20
New49%Increased14%Decreased21%Exited16%
Composition
Equity vs derivatives
Equity99%Puts0%Calls0%
Holding period
Avg 1.6 quarters
<1Q58%1-4Q21%1-2Y19%2Y+1%

LINDEN ADVISORS LP manages $13.4B across 481 positions as of Q4 2020. Top holdings: PINDUODUO INC (9.2%), MERCADOLIBRE INC (6.9%), SEA LTD (6.1%). Fund DNA: Momentum Trader. HoldingsIntel Rating: 2/5.0.

Q4 2020 Summary

Active quarter - 289 new positions, 130 exits, 37 increased. No standout high-conviction moves this quarter. Portfolio: $13.4B across 481 positions.

Portfolio Allocation

Top holdings by portfolio weight

Total AUM$13B
PINDUODUO IN9.24%
MERCADOLIBRE6.87%
SEA LTD6.07%
BILIBILI INC3.85%
ZILLOW GROUP3.49%
SNAP INC3.18%
ZILLOW GROUP3.08%
EXACT SCIENC2.78%
WAYFAIR INC2.29%
PENN ENTERTA2.16%
Other2.03%
Sector Breakdown

Portfolio allocation by GICS sector

Sectors11
Unknown71.67%
Financial Services6.30%
Consumer Cyclical5.23%
Technology4.64%
Healthcare3.67%
Industrials3.66%
Basic Materials1.91%
Real Estate1.61%
Consumer Defensive0.73%
Communication Services0.56%
Other0.01%
Fund DNA

Behavioral investing profile

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Momentum Trader
Compare DNA across all funds
Fund Rating
7-dimension quality assessment
Below Average(2.0 / 5.0)
Track Record61
Conviction30
Concentration37
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Position Outcomes

Best and worst performing positions by estimated return

Top Losers

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

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