LINDEN ADVISORS LP Q2 2025 Filing

Filed August 14, 2025

Portfolio Value

$16.3T

Holdings

376

Report Date

Q2 2025

Filing Type

13F-HR

All Holdings (376 positions)

#StockSharesValue% PortfolioType
1
MSTRMICROSTRATEGY INC 0.625 03/15/2030 144A
274,640,000$764.9B4.70%
2
COIN 0.25 04/01/30COINBASE GLOBAL INC 0.25 04/01/2030 144A
384,176,000$503.0B3.09%
3
TCOM 0.75 06/15/29TRIP COM GROUP LTD 0.75 06/15/2029 144A
362,635,000$402.4B2.47%
4
SMCI 3.5 03/01/29SUPER MICRO COMPUTER INC NOTE 3.50 3/1/2029
362,108,000$378.4B2.32%
5
LI 0.25 05/01/28LI AUTO INC 0.25 05/01/2028
271,707,000$323.0B1.98%
6
ZTO 1.5 09/01/27ZTO EXPRESS KY INC 1.5 09/01/2027
324,304,000$322.6B1.98%
7
TMDX 1.5 06/01/28TRANSMEDICS GROUP INC 1.5 06/01/2028
181,374,000$291.1B1.79%
8
SIRI 3.75 03/15/28LIBERTY MEDIA CORP 3.75 03/15/2028
278,210,000$290.4B1.78%
9
LITE 0.5 06/15/28LUMENTUM HOLDINGS INC 0.5 06/15/2028
242,826,000$251.3B1.54%
10
MMYT 0 02/15/28MAKEMYTRIP LIMITED 0 02/15/2028
93,255,000$238.2B1.46%
11
DKNG 0 03/15/28DRAFTKINGS HOLDINGS INC 0 03/15/2028
243,873,000$218.9B1.34%
12
PTON 5.5 12/01/29PELOTON INTERACTIVE INC 5.5 12/01/2029
117,950,000$216.5B1.33%
13
MKSI 1.25 06/01/30MKS INC 1.25 06/01/2030
217,136,000$214.7B1.32%
14
MSTR 2.25 06/15/32MICROSTRATEGY INC 2.25 06/15/2032
98,959,000$212.6B1.30%
15
SRPT 1.25 09/15/27SAREPTA THERAPEUTICS INC 1.25 09/15/2027
284,547,000$208.8B1.28%
16
IRTC 1.5 09/01/29IRHYTHM TECHNOLOGIES INC 1.5 09/01/2029
156,346,000$200.3B1.23%
17
ASND 2.25 04/01/28ASCENDIS PHARMA A/S 2.25 04/01/2028
154,747,000$193.9B1.19%
18
FIVN 1 03/15/29FIVE9 INC 1 03/15/2029
221,411,000$193.8B1.19%
19
SMTC 1.625 11/01/27SEMTECH CORP 1.625 11/01/2027
133,664,000$191.7B1.18%
20
CYTK 3.5 07/01/27CYTOKINETICS INC 3.5 07/01/2027
175,652,000$186.7B1.15%
21
MSTR 0.875 03/15/31MICROSTRATEGY INC 0.875 03/15/2031
98,404,000$185.4B1.14%
22
EXAS 0.375 03/15/27EXACT SCIENCES CORP 0.375 03/15/2027
186,841,000$178.5B1.10%
23
GVA 3.25 06/15/30GRANITE CONSTRUCTION INC 3.25 06/15/2030
128,347,000$175.6B1.08%
24
LITE 0.5 12/15/26LUMENTUM HOLDINGS INC 0.5 12/15/2026
147,425,000$173.5B1.06%
25
VSH 2.25 09/15/30VISHAY INTERTECHNOLOGY 2.25 09/15/2030
192,690,000$173.3B1.06%
26
HAE 2.5 06/01/29HAEMONETICS CORP 2.5 06/01/2029
163,707,000$163.1B1.00%
27
CFLT 0 01/15/27CONFLUENT INC 0 01/15/2027
171,645,000$160.2B0.98%
28
ITRI 1.375 07/15/30ITRON INC 1.375 07/15/2030 144A
133,316,000$158.8B0.97%
29
BE 3 06/01/29BLOOM ENERGY CORP 3 06/01/2029 144A
108,816,000$154.1B0.95%
30
EXAS 0.375 03/01/28EXACT SCIENCES CORP 0.375 03/01/2028
163,997,000$149.6B0.92%
31
RPD 0.25 03/15/27RAPID7 INC 0.25 03/15/2027
157,312,000$145.4B0.89%
32
VAC 3.25 12/15/27MARRIOTT VACATION WORLDW 3.25 12/15/2027
155,299,000$145.2B0.89%
33
PRGS 3.5 03/01/30PROGRESS SOFTWARE CORP 3.5 03/01/2030
123,950,000$143.8B0.88%
34
ETSY 0.125 09/01/27ETSY INC 0.125 09/01/2027
160,328,000$143.5B0.88%
35
HTHT 3 05/01/26H WORLD GROUP LTD 3 05/01/2026
134,142,000$141.9B0.87%
36
DOCN 0 12/01/26DIGITALOCEAN HOLDINGS 0 12/01/2026
151,166,000$141.4B0.87%
37
BBIO 2.25 02/01/29BRIDGEBIO PHARMA INC 2.25 02/01/2029
148,048,000$138.6B0.85%
38
LRN 1.125 09/01/27STRIDE INC 1.125 09/01/2027
48,554,000$135.1B0.83%
39
BE 3 06/01/28BLOOM ENERGY CORP 3 06/01/2028
89,648,000$133.1B0.82%
40
CNMD 2.25 06/15/27CONMED CORP 2.25 06/15/2027
139,675,000$132.6B0.81%
41
PI 1.125 05/15/27IMPINJ INC 1.125 05/15/2027
104,399,000$130.1B0.80%
42
ETSY 0.25 06/15/28ETSY INC 0.25 06/15/2028
148,500,000$127.7B0.78%
43
CAMT 0 12/01/26CAMTEK LTD/ISRAEL 0 12/01/2026
82,907,000$127.5B0.78%
44
IDCC 3.5 06/01/27INTERDIGITAL INC 3.5 06/01/2027
43,457,000$126.8B0.78%
45
SPHR 3.5 12/01/28SPHERE ENTERTAINMENT CO 3.5 12/01/2028
87,400,000$122.8B0.75%
46
COLL 2.875 02/15/29COLLEGIUM PHARMA INC 2.875 02/15/2029
112,550,000$121.0B0.74%
47
LYFT 0.625 03/01/29LYFT INC 0.625 03/01/2029
112,566,000$120.8B0.74%
48
VAC 0 01/15/26MARRIOTT VACATION WORLDW 0 01/15/2026
123,703,000$120.1B0.74%
49
SNAP 0.5 05/01/30SNAP INC 0.5 05/01/2030 144A
139,062,000$118.2B0.73%
50
CSGS 3.875 09/15/28CSG SYSTEMS INTERNATIONA 3.875 09/15/2028
103,292,000$116.8B0.72%
51
PD 1.5 10/15/28 *PAGERDUTY INC 1.5 10/15/2028
112,236,000$107.3B0.66%
52
EVH 3.5 12/01/29EVOLENT HEALTH INC 3.5 12/01/2029
125,100,000$106.7B0.65%
53
LIVN 2.5 03/15/29LIVANOVA PLC 2.5 03/15/2029
103,415,000$104.8B0.64%
54
PCRX 2.125 05/15/29PACIRA BIOSCIENCES INC 2.125 05/15/2029
106,970,000$104.7B0.64%
55
ENOV 3.875 10/15/28ENOVIS CORP 3.875 10/15/2028
102,348,000$101.1B0.62%
56
TDOC 1.25 06/01/27TELADOC HEALTH INC 1.25 06/01/2027
108,153,000$99.9B0.61%
57
ENPH 0 03/01/28ENPHASE ENERGY INC 0 03/01/2028
121,632,000$99.4B0.61%
58
LITE 1.5 12/15/29LUMENTUM HOLDINGS INC 1.5 12/15/2029
64,536,000$99.2B0.61%
59
BBIO 2.5 03/15/27BRIDGEBIO PHARMA INC 2.5 03/15/2027
78,930,000$98.7B0.61%
60
CSIQ 2.5 10/01/25CANADIAN SOLAR INC 2.5 10/01/2025
101,231,000$98.4B0.60%
61
HALO 0.25 03/01/27HALOZYME THERAPEUTICS IN 0.25 03/01/2027
97,930,000$97.6B0.60%
62
VECO 2.875 06/01/29VEECO INSTRUMENTS INC 2.875 06/01/2029
90,825,000$96.5B0.59%
63
WK 1.25 08/15/28WORKIVA INC 1.25 08/15/2028
100,775,000$93.7B0.58%
64
AEIS 2.5 09/15/28ADVANCED ENERGY IND 2.5 09/15/2028
77,052,000$92.5B0.57%
65
WB 1.375 12/01/30WEIBO CORP 1.375 12/01/2030
80,676,000$90.5B0.56%
66
TNDM 1.5 03/15/29 2024TANDEM DIABETES CARE INC 1.5 03/15/2029 144A
93,250,000$90.0B0.55%
67
TVTX 2.25 03/01/29TRAVERE THERAPEUTICS INC 2.25 03/01/2029
94,068,000$89.7B0.55%
68
GH 0 11/15/27GUARDANT HEALTH INC 0 11/15/2027
97,440,000$88.6B0.54%
69
GH 1.25 02/15/31GUARDANT HEALTH INC 1.25 02/15/2031
76,067,000$88.5B0.54%
70
BABA 0.5 06/01/31ALIBABA GROUP HOLDING 0.5 06/01/2031
68,872,000$88.0B0.54%
71
JAMF 0.125 09/01/26JAMF HOLDING CORP 0.125 09/01/2026
91,540,000$86.3B0.53%
72
SPB 3.375 06/01/29SPECTRUM BRANDS INC 3.375 06/01/2029
93,800,000$85.4B0.52%
73
CALY 2.75 05/01/26TOPGOLF CALL BRAN CORP 2.75 05/01/2026
87,703,000$85.2B0.52%
74
DBX 0 03/01/26DROPBOX INC 0 03/01/2026
84,279,000$83.6B0.51%
75
WDC 3 11/15/28WESTERN DIGITAL CORP 3 11/15/2028
45,952,000$82.5B0.51%
76
BL 1 06/01/29BLACKLINE INC 1 06/01/2029
76,660,000$81.6B0.50%
77
AMPH 2 03/15/29AMPHASTAR PHARMACEUTICAL 2 03/15/2029
92,674,000$80.4B0.49%
78
PEB 1.75 12/15/26PEBBLEBROOK HOTEL TRUST 1.75 12/15/2026
84,853,000$80.3B0.49%
79
DVAX 2 03/15/30DYNAVAX TECHNOLOGIES 2 03/15/2030 144A
86,148,000$78.2B0.48%
80
NVST 1.75 08/15/28ENVISTA HOLDINGS CORP 1.75 08/15/2028
83,302,000$77.5B0.48%
81
WGO 3.25 01/15/30WINNEBAGO INDUSTRIES 3.25 01/15/2030
89,479,000$77.3B0.47%
82
GVA 3.75 05/15/28GRANITE CONSTRUCTION INC 3.75 05/15/2028
36,931,000$76.9B0.47%
83
IMCR 2.5 02/01/30IMMUNOCORE HOLDINGS 2.5 02/01/2030
83,886,000$72.6B0.45%
84
LNTH 2.625 12/15/27LANTHEUS HOLDINGS INC 2.625 12/15/2027
55,940,000$71.1B0.44%
85
JBTM 0.25 05/15/26JBT MAREL CORP 0.25 05/15/2026
69,871,000$69.6B0.43%
86
ON 0.5 03/01/29ON SEMICONDUCTOR CORP 0.5 03/01/2029
74,231,000$68.7B0.42%
87
INVA 2.125 03/15/28INNOVIVA INC 2.125 03/15/2028
67,896,000$68.4B0.42%
88
ECPG 4 03/15/29ENCORE CAPITAL GROUP INC 4 03/15/2029
71,460,000$67.5B0.41%
89
PRO 2.5 07/01/30PROS HOLDINGS INC 2.5 07/01/2030 144A
62,350,000$67.4B0.41%
90
IONS 0 04/01/26IONIS PHARMACEUTICALS IN 0 04/01/2026
64,522,000$65.2B0.40%
91
INN 1.5 02/15/26SUMMIT HOTEL PROPERTIES 1.5 02/15/2026
67,307,000$65.1B0.40%
92
EB 0.75 09/15/26EVENTBRITE INC 0.75 09/15/2026
70,231,000$63.1B0.39%
93
FVICN 3.75 06/30/29FORTUNA MINING CORP 3.75 06/30/2029 144A
47,888,000$61.9B0.38%
94
QTWO 0.75 06/01/26Q2 HOLDINGS INC 0.75 06/01/2026
51,317,000$60.8B0.37%
95
CIFR 1.75 05/15/30CIPHER MINING 1.75 05/15/2030
47,000,000$60.0B0.37%
96
UPST 0.25 08/15/26UPSTART HOLDINGS INC 0.25 08/15/2026
62,463,000$59.2B0.36%
97
FLR 1.125 08/15/29FLUOR CORP 1.125 08/15/2029
43,947,000$57.7B0.35%
98
WWAYFAIR INC 3.5 11/15/2028
42,100,000$56.9B0.35%
99
RGEN 1 12/15/28REPLIGEN CORP 1 12/15/2028
56,841,000$56.5B0.35%
100
BBCN 3 02/15/29BLACKBERRY LTD 3 02/15/2029
38,971,000$55.4B0.34%
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