Linden Advisors Portfolio holdings
Linden Advisors is an independent alternative investment firm, founded in 2003 by four members of JP Morgan's U.S. Arbitrage Desk, the bank's in-house trading group for convertible and credit arbitrage. It runs a flexible multi-strategy approach built mainly on convertible, credit and special purpose acquisition company strategies. Its funds hold more than 200 individual positions and aim, where feasible, to stay neutral to both the stock market and interest rates. Siu Min (Joe) Wong, its chief executive and senior portfolio manager, is the principal owner, and the funds are open only to sophisticated, high net worth individuals and institutions.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$112M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$112M |
| 3 |
Lionheart Holdings
CUB
|
+$21.6M |
| 4 |
Robinhood
HOOD
|
+$19M |
| 5 |
FTRA.U
FutureCorp Space Acquisition 1 Units
FTRA.U
|
+$17.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NextEra Energy Inc 7.375% Corporate Units
NEE.PRV
|
+$111M |
| 2 |
Crescent Energy
CRGY
|
+$17.9M |
| 3 |
Core Scientific Inc Tranche 1 Warrants
CORZW
|
+$17.6M |
| 4 |
Idea Acquisition Corp Units
IACOU
|
+$17.3M |
| 5 |
Inflection Point Acquisition Corp VI Units
IPFXU
|
+$15.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 89.2% |
| 2 | Financials | 9.47% |
| 3 | Communication Services | 1.17% |
| 4 | Technology | 0.06% |
| 5 | Healthcare | 0.04% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
EGH Acquisition Corp
EGHA
$215M
| $15.4M | 0.08% |
1,500,000
| – | – |
2025 Q3
3 quarters
|
|
27
Gores Holdings X
GTEN
$471M
| $15.4M | 0.08% |
1,475,000
| – | – |
2025 Q2
4 quarters
|
|
|
HVII
28
DELISTED
Hennessy Capital Investment Corp VII
HVII
| $15.3M | 0.08% |
1,463,732
| – | – |
2025 Q1
5 quarters
|
|
29
Safeguard Acquisition Corp
SAC
$318M
| $15.2M | 0.08% |
1,510,000
+760,000
| +101% | +$7.63M |
2026 Q1
1 quarter
|
|
30
Karbon Capital Partners Corp
KBON
$447M
| $15M | 0.08% |
1,492,822
+392,822
| +36% | +$3.96M |
2026 Q1
1 quarter
|
|
31
Iron Horse Acquisitions Corp II
IRHO
$297M
| $15M | 0.08% |
1,500,000
| – | – |
2026 Q1
1 quarter
|
|
32
SC II Acquisition Corp
SCII
$255M
| $15M | 0.08% |
1,498,500
| – | – |
2026 Q1
1 quarter
|
|
33
Evolution Global Acquisition Corp
EVOX
$325M
| $15M | 0.08% |
1,491,000
+290,000
| +24% | +$2.9M |
2025 Q4
2 quarters
|
|
34
FG Imperii Acquisition Corp
FGII
$292M
| $14.9M | 0.08% |
1,500,000
| – | – |
2026 Q1
1 quarter
|
|
35
Mountain Lake Acquisition Corp II
MLAA
| $14.9M | 0.08% |
1,500,000
| – | – |
2026 Q1
1 quarter
|
|
36
McKinley Acquisition Corp
MKLY
$251M
| $14.7M | 0.08% |
1,445,000
| – | – |
2025 Q4
2 quarters
|
|
37
Kochav Defense Acquisition Corp
KCHV
$361M
| $14.5M | 0.08% |
1,400,000
| – | – |
2025 Q3
3 quarters
|
|
38
Cohen Circle Acquisition Corp II
CCII
$360M
| $14.4M | 0.07% |
1,394,511
| – | – |
2025 Q3
3 quarters
|
|
39
X3 Acquisition Corp
XCBE
$282M
| $14M | 0.07% |
1,400,000
| – | – |
2026 Q1
1 quarter
|
|
40
Armada Acquisition Corp III
AACI
$344M
| $13.9M | 0.07% |
+1,400,000
| New | +$13.9M |
2026 Q2
0 quarters
|
|
41
Launch Two Acquisition Corp
LPBB
$311M
| $13.9M | 0.07% |
1,296,800
| – | – |
2025 Q1
5 quarters
|
|
42
Republic Digital Acquisition Co
RDAG
$394M
| $13.7M | 0.07% |
1,325,023
| – | – |
2025 Q2
4 quarters
|
|
43
Daedalus Special Acquisition Corp
DSAC
$345M
| $13.6M | 0.07% |
1,350,000
| – | – |
2026 Q1
1 quarter
|
|
44
Abony Acquisition Corp I
AACO
$315M
| $13.4M | 0.07% |
+1,350,000
| New | +$13.3M |
2026 Q2
0 quarters
|
|
45
Spring Valley Acquisition Corp IV
SVIV
$309M
| $13.3M | 0.07% |
1,300,000
+500,000
| +63% | +$5.03M |
2026 Q1
1 quarter
|
|
46
K&F Growth Acquisition Corp II
KFII
$417M
| $13.2M | 0.07% |
1,250,000
| – | – |
2025 Q1
5 quarters
|
|
47
Keystone Acquisition Corp
KEYY
$381M
| $12.8M | 0.07% |
+1,300,000
| New | +$12.8M |
2026 Q2
0 quarters
|
|
48
Cantor Equity Partners IV
CEPF
$590M
| $12.8M | 0.07% |
1,229,860
+229,860
| +23% | +$2.36M |
2025 Q3
3 quarters
|
|
49
GSR IV Acquisition Corp
GSRF
$303M
| $12.7M | 0.07% |
1,250,000
| – | – |
2025 Q4
2 quarters
|
|
50
OTG Acquisition Corp I
OTGA
$304M
| $12.7M | 0.07% |
1,250,000
| – | – |
2025 Q4
2 quarters
|
|
Similar funds
Linden Advisors's Q2 2026 Portfolio in Review
As of Q2 2026, Linden Advisors held 702 positions worth $19.3B, up 8.1% from $17.9B the previous quarter. Its ten largest holdings account for 24% of the portfolio.
Linden Advisors withdrew a net $13.4B in Q2 2026, closing 64 positions and reducing 16 holdings. Its most notable exit was NextEra Energy Inc 7.375% Corporate Units, an estimated $111M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 89% of assets, down from 91% a quarter earlier, followed by Financials and Communication Services.
Against the trend, Linden Advisors opened a new position in Alphabet (Google) Class C worth $111M.
- Linden Advisors's largest Q2 2026 buy was Alphabet (Google) Class C: 314,480 shares worth $111M.
- Linden Advisors added most to Safeguard Acquisition Corp in Q2 2026, an estimated $7.63M increase.
- Linden Advisors's biggest Q2 2026 reduction was Churchill Capital Corp XI, cutting an estimated $7.38M.
- Linden Advisors fully exited NextEra Energy Inc 7.375% Corporate Units in Q2 2026, selling an estimated $111M.
- Linden Advisors's ten largest holdings make up 24% of its $19.3B portfolio in Q2 2026.
- Linden Advisors opened 135 new positions and closed 64 in Q2 2026.
- Linden Advisors's portfolio value rose 8.1% quarter-over-quarter to $19.3B.
Based on Linden Advisors's 13F filing for Q2 2026, filed 14 Aug 2026.