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Funds (13F)

Linden Advisors LP

Backtest from 16 Aug 2013 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+2.1%
S&P 500 +14.1%
Last 12 months
−15.3%
S&P 500 +12.1%
Sharpe ratio
0.20
S&P 500 0.78
Biggest drop
−71.9%
S&P 500 −31.8%
$5.0k$10.0k$20.0k$40.0k 2013201520172019202120232025 $57.0k$13.2k
Linden Advisors LPS&P 500 $10,000 in Linden Advisors LP from 16 Aug 2013 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Linden Advisors LP's quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Linden Advisors LP's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+2.1%+14.1%
Total return+32%+470%
Last 12 months−15.3%+12.1%
Last 3 months−7.8%—
Last month−10.5%—
This year so far−11.9%—
Volatility a year39.5%16.0%
Sharpe ratio0.200.78
Biggest drop−71.9%−31.8%
Beta to the S&P 5001.231.00
Alpha a year (t-statistic)−7.5% (−0.79)—
Share of weeks up54%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
GOOGL38.3%——
HOOD7.9%——
IPXG5.4%——
IRHO5.2%——
MKLY5.1%——
LPBB4.8%——
BEAG4.3%——
NTWO3.3%——
LGND3.0%——
SVAQ2.6%——
PLMK2.6%——
BRUN2.3%——
CCXI1.9%——
KRG1.8%——
SSAC1.6%——
WTG1.4%——
FACT1.1%——
DAAQ1.1%——
WB1.0%——
WLFC0.9%——
MMTX0.9%——
BIII0.9%——
BTU0.7%——
MCGA0.7%——
KDK0.6%——
NKLR0.3%——
KYIV0.3%——
CNCK0.1%——
AVAT0.0%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest16 Aug 2013 to 2 Nov 2026+2.1%+14.1%0.200.78−71.9%1.23−7.5% (−0.79)
2018 onwards5 Jan 2018 to 2 Nov 2026−2.7%+13.9%0.090.66−71.9%1.22−10.3% (−0.79)
Last three years3 Nov 2023 to 2 Nov 2026+12.4%+21.8%0.371.16−48.2%1.26−1.6% (−0.06)
Last year7 Nov 2025 to 2 Nov 2026−13.8%+14.2%−1.110.84−19.1%0.37−20.9% (−1.38)
DateCompanyAction
21 Aug 2026WLFCBought
21 Aug 2026WBBought
21 Aug 2026LGNDBought
21 Aug 2026KRGBought
21 Aug 2026KDKBought
21 Aug 2026HOODBought
21 Aug 2026GOOGLBought
21 Aug 2026BTUBought
21 Aug 2026BRUNBought
21 Aug 2026AVATBought
22 May 2026SVAQBought
22 May 2026SSACBought
22 May 2026NUCLBought
22 May 2026LIBought
22 May 2026IRHOBought
22 May 2026IPXGBought
22 May 2026CRGYBought
22 May 2026CCXIBought
22 May 2026BIIIBought
22 May 2026BABABought
20 Feb 2026ZTSBought
20 Feb 2026NKLRBought
20 Feb 2026MMTXBought
20 Feb 2026MKLYBought
20 Feb 2026BILIBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026NUCLSold
21 Aug 2026LISold
21 Aug 2026CRGYSold
21 Aug 2026BABASold
22 May 2026ZTSSold
22 May 2026BILISold
20 Feb 2026TCOMSold
20 Feb 2026SBSWSold
20 Feb 2026NVMISold
20 Feb 2026JBTMSold
20 Feb 2026CRMLSold
20 Feb 2026BXPSold
20 Feb 2026ATROSold
20 Feb 2026ALNYSold
21 Nov 2025WECSold
21 Nov 2025SNOWSold
21 Nov 2025PPLSold
21 Nov 2025PNWSold
21 Nov 2025NTNXSold
21 Nov 2025NETSold
21 Nov 2025MNSOSold
21 Nov 2025MMSISold
21 Nov 2025DUKSold
21 Nov 2025DDOGSold
21 Nov 2025CNPSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest