.net - Performance And Linq In Iterations?

These 2 ways of working both work, but I'm wondering if there's a difference in performance:

Dim collection As ItemCollection = CType(CellCollection.Where(Function(i) i.IsPending = True), ItemCollection)
For Each item As Item In collection
'Do something here
Next

and

For Each item As Item In CellCollection.Where(Function(i) i.IsPending = True)
'Do something here
Next

I thought the second one was better as you'd have a variable less and looks cleaner, but on second thought, I'm not quite sure what happens when you put a linq query in the iteration.