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Portfolio (Quarterly) Guide ↗

Linden Advisors LP

· CIK 0001279396
13F Portfolio $16.2B AUM 472 positions Filed Feb 17, 2026 EDGAR ↗ ← All Funds
Q4 2025 Q3 2025 · All 137 New 47 Added 39 Reduced 72 Exited
Page 2 of 2  ·  39 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
21 CERENCE INC 1.5 07/01/2028 44,725,000.0 $40.3M 0.25% -12.5M -21.8% $0.90
22 NIO INC 3.875 10/15/2029 41,282,000.0 $39.0M 0.24% -250K -0.6% $0.94
23 WISDOMTREE INC 3.25 08/15/2029 144A 31,127,000.0 $37.5M 0.23% -7.3M -19.0% $1.20
24 NIO INC 4.625 10/15/2030 39,748,000.0 $36.0M 0.22% -16.5M -29.4% $0.91
25 WAYFAIR INC 3.25 09/15/2027 20,327,000.0 $34.0M 0.21% -26.0M -56.2% $1.67
26 SEMTECH CORP 1.625 11/01/2027 16,664,000.0 $33.9M 0.21% -122.0M -88.0% $2.04
27 IRHYTHM TECHNOLOGIES INC 1.5 09/01/2029 24,086,000.0 $33.7M 0.21% -68.0M -73.8% $1.40
28 GRANITE CONSTRUCTION INC 3.25 06/15/2030 12,852,000.0 $20.5M 0.13% -106.1M -89.2% $1.60
29 CORE SCIENTIFIC INC 27 2,013,335.0 $17.0M 0.10% -800K -28.4% $8.45
30 SNAP INC 0.125 03/01/2028 17,550,000.0 $16.0M 0.10% -27.9M -61.3% $0.91
31 CRANE HARBOR ACQU CORP A 350,000.0 $3.8M 0.02% -50K -12.5% $10.77
32 GREEN PLAINS INC 2.25 03/15/2027 3,103,000.0 $3.0M 0.02% -23.7M -88.4% $0.96
33 REPLIGEN CORP 1 12/15/2028 2,653,000.0 $2.9M 0.02% -11.0M -80.6% $1.10
34 KYIV KYIVSTAR GROUP LTD ORD SHS Communication Services 217,932.0 $2.5M 0.02% -30K -12.3% $11.68 +17.4%
35 IONIS PHARMACEUTICALS IN 0 04/01/2026 1,062,000.0 $1.5M 0.01% -107.5M -99.0% $1.37
36 CHURCHILL CAPITAL CORP X 168,476.0 $1.3M 0.01% -107K -38.7% $7.74
37 DYNAMIX CORP 29 525,001.0 $945K 0.01% -25K -4.5% $1.80
38 WILLOW LANE ACQUISITION 29 172,252.0 $741K 0.01% -15K -8.1% $4.30
39 BLACKLINE INC 1 06/01/2029 197,000.0 $209K 0.00% -70.0M -99.7% $1.06
Page 2 of 2  ·  39 positions

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Financial Services 91.7%
Healthcare 7.6%
Communication Services 0.6%
Technology 0.1%