LALINDEN ADVISORS LP

Institutional investor · Portfolio as of Q4 2025

SEC EDGAR SourceSEC Filings

Top Holdings472 positions

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Activity:
Stock
Shares
Value
Weight
Avg Buy
Est. P&L
Held
Conviction
284.2M$807.1M5.0%———
Increased
63
239.9M$644M4.0%———
New
87
93.3M$496M3.1%———
Increased
60
130.4M$350.9M2.2%———
New
80
89.7M$333M2.1%———
Increased
56
314.2M$289.5M1.8%———
New
71
255.7M$283.4M1.7%———
New
70
222.4M$281.2M1.7%———
Increased
64
??MKS INC.
Bond
213.1M$272.5M1.7%———
Increased
50
??LI AUTO INCDelisted
Bond
261.7M$263.6M1.6%———
Decreased
0
249.4M$251.1M1.5%———
Decreased
0
??EXACT SCIENCES CORPDelisted
Bond
238.1M$244.9M1.5%——
8 qtrssince 2024-Q1
Decreased
0
214M$241M1.5%———
Increased
58
187.1M$236.8M1.5%———
New
70
175.5M$234M1.4%———
Decreased
0
137.6M$229.1M1.4%———
Increased
48
82.3M$226.5M1.4%———
Increased
49
154.3M$218.6M1.3%———
Increased
61
209.5M$217.2M1.3%———
New
70
139.4M$216.9M1.3%———
Decreased
0
$16.2B
AUM
472
Positions
Q4 2025
Filing
Rating · 2.0
Quarterly Portfolio Change
+8%Q4'23$10.5B+15%Q4'24$12.1B+22%Q1'25$14.7B+10%Q2'25$16.3B-8%Q3'25$15B+8%Q4'25$16.2B
Activity profile
$ moved · Q4'25
New39%Increased18%Decreased18%Exited25%
Composition
Equity vs derivatives
Equity100%Puts0%Calls0%
Holding period
Avg 3.1 quarters
<1Q28%1-4Q48%1-2Y11%2Y+13%

LINDEN ADVISORS LP manages $16.2B across 472 positions as of Q4 2025. Top holdings: LUMENTUM HLDGS INC (5.0%), CENTRUS ENERGY CORP (4.0%), LUMENTUM HLDGS INC (3.1%). Fund DNA: Momentum Trader. HoldingsIntel Rating: 2/5.0.

Q4 2025 Summary

Active quarter - 137 new positions, 72 exits, 50 increased. No standout high-conviction moves this quarter. Portfolio: $16.2B across 472 positions.

Portfolio Allocation

Top holdings by portfolio weight

Total AUM$16B
LUMENTUM HLD4.97%
CENTRUS ENER3.96%
LUMENTUM HLD3.05%
APPLIED DIGI2.16%
LUMENTUM HLD2.05%
BILL HOLDING1.78%
AFFIRM HLDGS1.74%
MICROSTRATEG1.73%
MKS INC.1.68%
LI AUTO INC1.62%
Other1.55%
Sector Breakdown

Portfolio allocation by GICS sector

Sectors5
Financial Services64.74%
Unknown32.46%
Healthcare2.43%
Communication Services0.21%
Utilities0.16%
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
Conviction31
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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Top conviction positions this quarter
Double-Down Detection
Buying into price weakness
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Accumulation Streaks

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

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7Q
VI928298AR9VISHAY INTERTECHNOLOGY INC
Q4 2024 → Q2 2026+353.9M shares+$770.5M
4Q
CO19459JAC8COLLEGIUM PHARMACEUTICAL INC
Q3 2025 → Q2 2026+26.6M shares+$50.6M
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Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer

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