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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 3  ·  47 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
21 STRATEGY INC 0.875 03/15/2031 105,639,000.0 $108.4M 0.67% +4.0M +3.9% $1.03
22 SOLARIS ENERGY INFRASTRU 4.75 05/01/2030 48,669,000.0 $97.5M 0.60% +3.5M +7.8% $2.00
23 ADVANCED ENERGY IND 2.5 09/15/2028 58,552,000.0 $96.1M 0.59% +6.0M +11.4% $1.64
24 IMMUNOCORE HOLDINGS 2.5 02/01/2030 90,836,000.0 $82.3M 0.51% +1.5M +1.7% $0.91
25 TANDEM DIABETES CARE INC 1.5 03/15/2029 144A 78,683,000.0 $80.2M 0.49% +15.0M +23.6% $1.02
26 SOLAR EDGE TECHNOLOGIES 2.25 07/01/2029 63,338,000.0 $73.8M 0.45% +7.1M +12.7% $1.16
27 RAPID7 INC 1.25 03/15/2029 61,138,000.0 $55.8M 0.34% +5.0M +8.9% $0.91
28 LITHIUM ARGENTINA AG 1.75 01/15/2027 48,555,000.0 $44.2M 0.27% +1.2M +2.5% $0.91
29 MARA HOLDINGS INC 2.125 09/01/2031 144A 42,600,000.0 $34.3M 0.21% +27.0M +173.1% $0.81
30 PENGUIN SOLUTIONS INC 2 08/15/2030 28,000,000.0 $28.6M 0.18% +1.1M +4.1% $1.02
31 VARONIS SYSTEM INC 1 09/15/2029 144A 21,403,000.0 $19.9M 0.12% +9.0M +72.3% $0.93
32 TACO BERTO ACQUISITION CORP Financial Services 1,500,000.0 $15.2M 0.09% +250K +20.0% $10.14 +2.6%
33 HENNESSY CAPITAL INVESTMENT 1,463,732.0 $15.1M 0.09% +250K +20.6% $10.35
34 STRATEGY INC NOTE 0.625 9/1 10,843,000.0 $12.7M 0.08% +10.0M +1186.2% $1.17
35 HCM III ACQUISITION COR CL A 1,200,000.0 $12.1M 0.07% +200K +20.0% $10.06
36 WENN WEN ACQUISITION CORP A Financial Services 1,100,000.0 $11.1M 0.07% +200K +22.2% $10.10 +1.5%
37 ANDRETTI ACQUISITION CORP A 1,000,000.0 $10.5M 0.07% +700K +233.3% $10.54
38 IPEX INFLECTION POINT ACQUISITION Financial Services 875,716.0 $9.0M 0.06% +76K +9.5% $10.26 +1.9%
39 BACC BLUE ACQUISITION CORP CL A Financial Services 775,000.0 $7.9M 0.05% +50K +6.9% $10.21 +2.3%
40 HERTZ CORP/THE 8 07/15/2029 4,967,000.0 $5.7M 0.04% +3.0M +148.3% $1.14
Page 2 of 3  ·  47 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%