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Linden Advisors Portfolio holdings

AUM $17.9B
1-Year Est. Return 1.72%
This Fund
S&P 500
This Quarter Est. Return
+0.44%
1 Year Est. Return
+1.72%
3 Year Est. Return
+2.79%
5 Year Est. Return
+3.4%
10 Year Est. Return
+25.58%
AUM
$15B
AUM Growth
-$1.29B
Cap. Flow
-$12.7B
Cap. Flow %
-84.91%
Top 10 Hldgs %
24.04%
Holding
451
New
91
Increased
10
Reduced
15
Closed
44

Top Buys

Rank Stock Value
1
NVMI
Nova
NVMI
+$25.1M
2
BXP icon
Boston Properties
BXP
+$17.8M
3
TVAI
Thayer Ventures Acquisition Corporation II
TVAI
+$17.5M
4
JENA
Jena Acquisition Corp II
JENA
+$15.7M
5
TLNCU
Talon Capital Corp Units
TLNCU
+$15M

Top Sells

Rank Stock Value
1
NET icon
Cloudflare
NET
+$48.7M
2
KDK
Kodiak AI
KDK
+$24.9M
3
WEC icon
WEC Energy
WEC
+$24.5M
4
CYBR
CyberArk
CYBR
+$24.1M
5
IMSR
Terrestrial Energy
IMSR
+$20.7M

Sector Composition

Rank Sector Weight
1 Financials 5.14%
2 Technology 0.24%
3 Energy 0.21%
4 Industrials 0.19%
5 Real Estate 0.12%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HCMAW
176
HCM III Acquisition Corp Warrants
HCMAW
$8.38M
$235K ﹤0.01%
+333,333
New +$257K
RAC.WS
177
Rithm Acquisition Corp Warrants
RAC.WS
$234K ﹤0.01%
366,666
– –
MLACR
178
DELISTED
Mountain Lake Acquisition Corp Right
MLACR
$217K ﹤0.01%
1,175,000
– –
ATIIW
179
Archimedes Tech SPAC Partners II Co Warrant
ATIIW
$21.3M
$217K ﹤0.01%
585,196
+85,197
+17% +$29.6K
PCAPW
180
ProCap Acquisition Corp Warrant
PCAPW
$2.67M
$214K ﹤0.01%
+316,666
New +$209K
BACCR
181
Blue Acquisition Corp Right
BACCR
$214K ﹤0.01%
+1,425,000
New +$211K
BEAGR
182
Bold Eagle Acquisition Corp Right
BEAGR
$208K ﹤0.01%
800,000
– –
NPACW
183
New Providence Acquisition Corp III Warrants
NPACW
$2.4M
$202K ﹤0.01%
470,081
+70,081
+18% +$31.8K
CRML icon
184
Critical Metals Corp
CRML
$887M
$202K ﹤0.01%
32,423
-592,577
-95% -$3.04M
HYAC.WS
185
DELISTED
Haymaker Acquisition Corp 4 Warrants
HYAC.WS
$201K ﹤0.01%
450,001
– –
APADR
186
DELISTED
A Paradise Acquisition Corp Rights
APADR
$198K ﹤0.01%
+1,200,000
New +$189K
TACHW
187
Titan Acquisition Corp Warrants
TACHW
$7.92M
$195K ﹤0.01%
600,000
– –
CRAQR
188
Cal Redwood Acquisition Corp Right
CRAQR
$195K ﹤0.01%
846,325
+146,325
+21% +$33.1K
ATMVR
189
DELISTED
AlphaVest Acquisition Corp Right
ATMVR
$188K ﹤0.01%
300,000
– –
IPEXR
190
Inflection Point Acquisition Corp V Rights
IPEXR
$182K ﹤0.01%
300,000
– –
OYSER
191
Oyster Enterprises II Acquisition Corp Rights
OYSER
$176K ﹤0.01%
+1,000,000
New +$170K
LPBBW
192
Launch Two Acquisition Corp Warrant
LPBBW
$176K ﹤0.01%
499,000
– –
DMAAR
193
Drugs Made In America Acquisition Corp Rights
DMAAR
$175K ﹤0.01%
+850,000
New +$158K
PELIR
194
DELISTED
Pelican Acquisition Corp Right
PELIR
$173K ﹤0.01%
670,000
– –
PAII.WS
195
Pyrophyte Acquisition Corp II Warrants
PAII.WS
$166K ﹤0.01%
+475,584
New +$146K
JENA.RT
196
Jena Acquisition Corp II Rights
JENA.RT
$160K ﹤0.01%
+800,000
New +$153K
FERAR
197
Fifth Era Acquisition Corp I Rights
FERAR
$157K ﹤0.01%
500,000
– –
AXINR
198
Axiom Intelligence Acquisition Corp 1 Right
AXINR
$150K ﹤0.01%
+950,000
New +$146K
NTWOW
199
Newbury Street II Acquisition Corp Warrant
NTWOW
$2.32M
$131K ﹤0.01%
525,000
– –
CDROW icon
200
Codere Online Luxembourg Warrants
CDROW
$5.79M
$128K ﹤0.01%
144,407
– –
6 7
8
9 10

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MCM
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HNB
Huntington National Bank Columbus, Ohio $18.1B AUM 24.69% 1-Year Est. Return
CWP
Capital Wealth Planning Naples, Florida $18.1B AUM 26.68% 1-Year Est. Return
FCM
Farallon Capital Management San Francisco, California $17.5B AUM 50.95% 1-Year Est. Return
TAF
Tredje AP-fonden Se-111 91 Stockholm, Sweden $18.3B AUM 27.14% 1-Year Est. Return
BBA
Baker Bros. Advisors New York $17.4B AUM 131.5% 1-Year Est. Return
FAF
Fjarde Ap-fonden Stockholm, Sweden $18.3B AUM 23.23% 1-Year Est. Return
NC
Nvidia Corp Santa Clara, California $18.4B AUM 362.26% 1-Year Est. Return

Linden Advisors's Q3 2025 Portfolio in Review

As of Q3 2025, Linden Advisors held 451 positions worth $15B, down 7.9% from $16.3B the previous quarter. Its ten largest holdings account for 24% of the portfolio.

Linden Advisors withdrew a net $12.7B in Q3 2025, closing 44 positions and reducing 15 holdings. Its most notable exit was Cloudflare, an estimated $48.7M position sold in full.

By sector, the portfolio is most concentrated in Financials at 5.1% of assets, up from 3.2% a quarter earlier, followed by Technology and Energy.

Against the trend, Linden Advisors opened a new position in Nova worth $29.1M.

  • Linden Advisors's largest Q3 2025 buy was Nova: 90,980 shares worth $29.1M.
  • Linden Advisors added most to Inflection Point Acquisition Corp V in Q3 2025, an estimated $5.09M increase.
  • Linden Advisors's biggest Q3 2025 reduction was Terrestrial Energy, cutting an estimated $20.7M.
  • Linden Advisors fully exited Cloudflare in Q3 2025, selling an estimated $48.7M.
  • Linden Advisors's ten largest holdings make up 24% of its $15B portfolio in Q3 2025.
  • Linden Advisors opened 91 new positions and closed 44 in Q3 2025.
  • Linden Advisors's portfolio value fell 7.9% quarter-over-quarter to $15B.

Based on Linden Advisors's 13F filing for Q3 2025, filed 14 Nov 2025.