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Livermore
Livermore
ZHEN

Whitebox Advisors LLC

SEC CIK
0001257391
Latest filing
Aug 14, 2026

Holdings in Q4 2023

Holdings as of Dec 31, 2023, filed Aug 26, 2026. Long positions only; changes compare share counts with Q3 2023.

Institution overview
Positions
302
−56 vs. Q3 2023
Portfolio value
$2.25B
+$223.0M (+11.0%) vs. Q3 2023
Filed
Aug 26, 2026
AmendedSECSEC
Holdings of Whitebox Advisors LLC in Q4 2023
SecurityClassSharesValue% of portfolioShare changeActionHistory
Royal Caribbean Group780153BQ4NOTE 6.000% 8/1–$215.8M9.6%–––
LBRDKLiberty Broadband CorpCOM SER C1,950,922$157.2M7.0%+196,000+11.2%AddedHistory
American Airls Group Inc02376RAF9NOTE 6.500% 7/0–$115.1M5.1%–––
MicroStrategy Inc594972AC5NOTE 0.750%12/1–$101.4M4.5%–––
Transocean Ltd.893830BW8DEB 4.625% 9/3–$94.2M4.2%–––
On Semiconductor Corp682189AS4NOTE 5/0–$90.7M4.0%–––
Zillow Group, Inc.98954MAG6NOTE 1.375% 9/0–$79.6M3.5%–––
Sunnova Energy Intl Inc.86745KAF1NOTE 0.250%12/0–$71.6M3.2%–––
PPLIPeople IncCOM NEW1,280,890$67.1M3.0%+387,000+43.3%AddedHistory
MicroStrategy Inc594972AE1NOTE 2/1–$61.2M2.7%–––
TFPMTriple Flag Precious Metals Corp.Stock3,567,446$47.5M2.1%00.0%UnchangedHistory
Wolfspeed, Inc.977852AD4NOTE 1.875%12/0–$44.3M2.0%–New–
GRFSGrifols SASP ADR REP B NVT3,678,262$42.5M1.9%+1,712,156+87.1%AddedHistory
Semtech Corp816850AF8NOTE 1.625%11/0–$41.5M1.8%–New–
Wayfair Inc.94419LAP6NOTE 3.250% 9/1–$40.6M1.8%–––
Nova Ltd.66980MAB2NOTE 10/1–$40.5M1.8%–––
Coinbase Global, Inc.19260QAB3NOTE 0.500% 6/0–$36.9M1.6%–––
VALValaris LtdCL A526,005$36.1M1.6%00.0%UnchangedHistory
ACIAlbertsons Companies, Inc.COMMON STOCK1,550,607$35.7M1.6%+443,785+40.1%AddedHistory
BNBROOKFIELD CorpCL A LTD VT SH865,340$34.7M1.5%−148,600−14.7%ReducedHistory
BAXBaxter International IncStock856,530$33.1M1.5%+128,030+17.6%AddedHistory
Xometry, Inc.98423FAB5NOTE 1.000% 2/0–$29.8M1.3%–––
CHRDChord Energy CorpCOM NEW177,550$29.5M1.3%00.0%UnchangedHistory
Marathon Digital Holdings IN565788AB2NOTE 1.000%12/0–$29.1M1.3%–––
Array Technologies, Inc.04271TAB6NOTE 1.000%12/0–$28.5M1.3%–––
INSMED Inc457669AB5NOTE 0.750% 6/0–$27.8M1.2%–––
HCI Group, Inc.40416EAF0NOTE 4.750% 6/0–$27.5M1.2%–––
GPORGulfport Energy CorpCOMMON SHARES200,620$26.7M1.2%−201,127−50.1%ReducedHistory
HEI.AHeico CorpCL A183,581$26.1M1.2%00.0%UnchangedHistory
Wayfair Inc.94419LAF8NOTE 1.000% 8/1–$23.4M1.0%–––
Cree Inc225447AD3NOTE 1.750% 5/0–$21.9M1.0%–––
Upstart Hldgs Inc91680MAB3NOTE 0.250% 8/1–$21.8M1.0%–––
Encore Cap Group Inc292554AM4NOTE 3.250%10/0–$20.8M0.9%–––
Cryolife Inc228903AB6NOTE 4.250% 7/0–$20.4M0.9%–––
AQNAlgonquin Power & Utilities Corp.COM3,157,963$20.0M0.9%+942,963+42.6%AddedHistory
NENoble Corp plcORD SHS A384,594$18.5M0.8%00.0%UnchangedHistory
Bandwidth Inc.05988JAB9NOTE 0.250% 3/0–$18.1M0.8%–––
Bill Com Hldgs Inc090043AB6NOTE 12/0–$18.0M0.8%–––
Liberty Media Corp531229813Stock601,926$17.3M0.8%+366,266+155.4%Added–
Infinera Corp45667GAG8NOTE 3.750% 8/0–$16.7M0.7%–––
PTC Therapeutics, Inc.69366JAD3NOTE 1.500% 9/1–$16.0M0.7%–––
BLCOBausch & Lomb CorpCOMMON SHARES932,819$15.9M0.7%+131,172+16.4%AddedHistory
BHCBausch Health Companies Inc.Stock1,890,882$15.2M0.7%+696,882+58.4%AddedHistory
Liberty Media Corp531229789Stock518,774$14.9M0.7%+357,434+221.5%Added–
Beyond Meat, Inc.08862EAB5NOTE 3/1–$14.9M0.7%–––
Maxeon Solar Technologies LT57779BAB0NOTE 6.500% 7/1–$13.4M0.6%–––
Cardlytics, Inc.14161WAB1NOTE 1.000% 9/1–$13.2M0.6%–New–
Repligen Corp759916AC3NOTE 1.000%12/1–$12.8M0.6%–New–
Realogy Grp LLC/Realogy Co75606DAP6NOTE 0.250% 6/1–$12.3M0.5%–––
GMGeneral Motors CoCOM273,991$9.84M0.4%+96,124+54.0%AddedHistory
Esperion Therapeutics Inc Ne29664WAB1NOTE 4.000%11/1–$9.74M0.4%–––
LBRDALiberty Broadband CorpCOM SER A118,151$9.53M0.4%00.0%UnchangedHistory
Redfin Corp75737FAE8NOTE 0.500% 4/0–$9.52M0.4%–––
Zscaler, Inc.98980GAB8NOTE 0.125% 7/0–$9.35M0.4%–––
THCTenet Healthcare CorpCOM NEW120,292$9.09M0.4%−21,254−15.0%ReducedHistory
UPWheels Up Experience Inc.COM CL A43,028,201$9.04M0.4%+43,028,201NewHistory
Two HBRS Invt Corp90187BAB7NOTE 6.250% 1/1–$8.54M0.4%–––
Liberty Media Corp530715AL5DEB 3.750% 2/1–$8.28M0.4%–––
ProShares Bitcoin ETF74347G440ETF379,825$7.78M0.3%+379,825New–
Sunnova Energy Intl Inc.86745KAH7NOTE 2.625% 2/1–$7.56M0.3%–New–
Omeros Corp682143AG7NOTE 5.250% 2/1–$7.52M0.3%–––
CYHCommunity Health Systems IncCOM2,139,993$6.70M0.3%+651,422+43.8%AddedHistory
NCMINational CineMedia, Inc.COM NEW1,512,505$6.26M0.3%−50,000−3.2%ReducedHistory
GTGoodyear Tire & Rubber CoCOM395,411$5.66M0.3%−45,000−10.2%ReducedHistory
DCHDauch CorpCOM627,069$5.52M0.2%+15,000+2.5%AddedHistory
Plug Power Inc72919PAD5NOTE 3.750% 6/0–$5.22M0.2%–New–
HC2 Hldgs Inc404139AG2NOTE 7.500% 8/0–$3.66M0.2%–––
Gossamer Bio, Inc.38341PAA0NOTE 5.000% 6/0–$3.65M0.2%–––
Liberty Media Corp530715AG6DEB 4.000%11/1–$3.64M0.2%–––
HTZWWHertz Global Holdings, IncCommon Stock659,401$3.61M0.2%+262,612+66.2%AddedHistory
DALDelta Air Lines, Inc.COM NEW74,136$2.98M0.1%+19,350+35.3%AddedHistory
TAT&T Inc.Stock172,847$2.90M0.1%00.0%UnchangedHistory
CSTMConstellium SECL A SHS143,746$2.87M0.1%+143,746NewHistory
OPTUOptimum Communications, Inc.CL A770,291$2.50M0.1%+595,119+339.7%AddedHistory
JWNNordstrom IncStock130,457$2.41M0.1%−37,000−22.1%ReducedHistory
Groupon, Inc.399473AF4NOTE 1.125% 3/1–$2.40M0.1%–New–
Cutera Inc232109AG3NOTE 4.000% 6/0–$2.26M0.1%–New–
RRyder System IncCOM18,014$2.07M0.1%−3,500−16.3%ReducedHistory
Bentley Sys Inc08265TAB5NOTE 0.125% 1/1–$1.94M0.1%–New–
IHRTiHeartMedia, Inc.COM CL A696,246$1.86M0.1%+696,246NewHistory
Bilibili Inc.090040AF3NOTE 0.500%12/0–$1.84M0.1%–––
Veritone, Inc.92347MAB6NOTE 1.750%11/1–$1.70M0.1%–––
MBIMbia IncCOM275,176$1.68M0.1%+131,912+92.1%AddedHistory
Iron Horse Acquisitions Corp462837204UNIT 10/15/2028150,000$1.51M0.1%+150,000New–
Cutera Inc232109AD0NOTE 2.250% 6/0–$1.46M0.1%–––
Paramount Global92556H206CL B95,723$1.42M0.1%−12,000−11.1%Reduced–
KSSKOHLS CorpStock44,770$1.28M0.1%−12,000−21.1%ReducedHistory
WBDWarner Bros. Discovery, Inc.Stock95,396$1.09M<0.1%−15,000−13.6%ReducedHistory
OVVOvintiv Inc.COM21,550$946.5K<0.1%+1,000+4.9%AddedHistory
ULYXUrgent.ly Inc.COM278,189$881.9K<0.1%+278,189NewHistory
ELBMElectra Battery Materials CorpCOM NEW2,143,875$809.7K<0.1%00.0%UnchangedHistory
KVACFKeen Vision Acquisition Corp.SHS75,000$775.0K<0.1%+75,000NewHistory
OAKUOak Woods Acquisition CorpCL A68,000$716.0K<0.1%+68,000NewHistory
MERCMercer International Inc.COM64,025$607.0K<0.1%+24,638+62.6%AddedHistory
NNNextnav Inc.COMMON STOCK135,545$603.2K<0.1%+135,545NewHistory
TPRTapestry, Inc.COM15,770$580.5K<0.1%−4,000−20.2%ReducedHistory
Bukit Jalil GBL AcquisitionG1676M139UNIT 05/02/202950,000$526.0K<0.1%00.0%Unchanged–
HYACHaymaker Acquisition Corp VCLASS A50,000$513.5K<0.1%+50,000NewHistory
SCRMScreaming Eagle Acquisition Corp.CLASS A ORD SHS35,000$371.0K<0.1%00.0%UnchangedHistory
99 Acquisition Group Inc65445K101CL A35,000$356.6K<0.1%+35,000New–

Options (30)

Puts and calls in the same filing. Amounts are the market value of the underlying shares, which is what 13F reports.

Option positions of Whitebox Advisors LLC in Q4 2023
SecurityClassPutsCalls
SPYSPDR S&P 500 ETF TrustETF$438.5M–
RCLRoyal Caribbean Cruises LtdCOM$207.2M–
AALAmerican Airlines Group Inc.Stock$139.5M–
CCLCarnival Corp Ltd.UNIT 99/99/9999$94.6M–
AAPLApple Inc.Stock$67.4M–
State Street Industrial Select Sector SPDR ETF81369Y704ETF$57.0M–
VanEck ETF Trust92189H607OIL SERVICES ETF$46.4M–
WOLFWolfspeed, Inc.Stock$43.5M–
TDWTidewater IncCOM–$36.1M
BFHBread Financial Holdings, Inc.COM$32.9M–
UALUnited Airlines Holdings, Inc.COM$31.8M–
CATCaterpillar IncStock$29.6M–
BYNDBeyond Meat, Inc.COM$28.3M–
RIVNRivian Automotive, Inc.Stock$23.5M–
MSTRStrategy IncStock$13.3M$9.47M
UPSTUpstart Holdings, Inc.COM$17.2M–
NOVASunnova Energy International Inc.COM$15.3M–
NCLHNorwegian Cruise Line Holdings Ltd.SHS$15.0M–
SCHWSchwab Charles CorpStock$13.8M–
Invesco QQQ Trust Series I46090E103ETF$10.6M–
RIGTransocean Ltd.REGISTERED SHS$6.03M–
LUMNLumen Technologies, Inc.Stock$5.49M–
SABRSabre CorpCOM$5.06M–
Azul S A05501U106SPONSR ADR PFD$4.84M–
LCIDLucid Group, Inc.COM$4.00M–
FSRFisker Inc.CL A COM STK$2.48M–
AMCAMC Entertainment Holdings, Inc.CL A NEW$2.14M–
PSECProspect Capital CorpCOM$1.86M–
TDGTransDigm Group INCCOM$505.8K–
PSNYWPolestar Automotive Holding UK PLCADS C-1–$18.0K

Sold out since Q3 2023 (108)

Positions held at the end of Q3 2023 that are gone from this filing.

The largest 100 of 108 by value last quarter.

Positions of Whitebox Advisors LLC sold out since Q3 2023
SecurityClassShares in Q3 2023Value in Q3 2023% of portfolio in Q3 2023History
DISH Network CORP25470MAF6NOTE 12/1–$24.0M1.2%–
EXEExpand Energy CorpCOM255,250$22.0M1.1%History
DENDenbury IncCOM114,000$11.2M0.5%History
Omeros Corp682143AE2NOTE 6.250%11/1–$9.21M0.5%–
AAPLApple Inc.Stock37,500$6.42M0.3%History
Carnival Corp Ltd.14365C103ADR496,904$6.09M0.3%–
DBDDiebold Nixdorf, IncCOM SHS301,945$5.72M0.3%History
Sarepta Therapeutics, Inc.803607AD2NOTE 1.250% 9/1–$5.58M0.3%–
Exact Sciences Corp30063PAA3NOTE 1.000% 1/1–$5.46M0.3%–
Redwood Trust Inc758075AF2NOTE 7.750% 6/1–$4.04M0.2%–
Semnur Pharmaceuticals, Inc.G6256B106CLASS A ORD200,000$2.19M0.1%–
SKGRUSK Growth Opportunities CorpUNIT 06/28/2029200,000$2.16M0.1%History
WKWorkiva IncCOM CL A19,758$2.00M0.1%History
Uber Technologies, Inc90353TAJ9NOTE 12/1–$1.87M0.1%–
TRTLTortoiseEcofin Acquisition Corp. IIISHS CL A177,835$1.86M0.1%History
Gores Holdings IX, Inc.38287A101CLASS A COM150,000$1.56M0.1%–
OGNOrganon & Co.Stock88,343$1.53M0.1%History
LUVSouthwest Airlines CoCOM41,166$1.11M0.1%History
Forbion European Acqustn CorG3619H102CLASS A ORD SHS100,000$1.10M0.1%–
RENEFCartesian Growth Corp IICLASS A ORD100,000$1.09M0.1%History
Pono Cap Three IncG71704103ORD SHS CL A100,000$1.05M0.1%–
Distoken Acquisition CorpG27740110ORDINARY SHARES100,000$1.05M0.1%–
AEISAdvanced Energy Industries IncCOM8,700$897.1K<0.1%History
Monterey Cap Acquisition Cor61244M109CLASS A COM75,000$797.3K<0.1%–
KVAUFKeen Vision Acquisition Corp.UNIT 99/99/999975,000$770.3K<0.1%History
HASIHA Sustainable Infrastructure Capital, Inc.COM34,903$739.9K<0.1%History
Oak Woods Acquisition Corp67190B203UNIT 03/23/202868,000$727.6K<0.1%–
PRLHPearl Holdings Acquisition CorpCLASS A ORD SHS50,000$536.0K<0.1%History
SDCL EDGE Acquisition CorpG79471101CL A ORD SHS50,000$530.0K<0.1%–
Haymaker Acquisition Corp IVG4375F124UNIT 99/99/999950,000$522.5K<0.1%–
99 Acquisition Group Inc65445K200UNIT 99/99/999935,000$362.6K<0.1%–
VFSWWVinFast Auto Ltd.*W EXP 08/11/20270,000$273.7K<0.1%History
HOUSAnywhere Real Estate Inc.COM31,155$200.3K<0.1%History
TGITriumph Group IncCOM15,284$117.1K<0.1%History
Lifezone Metals LtdG5568L117*W EXP 07/05/20237,500$44.3K<0.1%–
PSQ Holdings, Inc.693691115Warrant26,666$37.1K<0.1%–
Mercato Partners Acquisition Corp58759A116*W EXP 99/99/999175,000$36.8K<0.1%–
PSNYWPolestar Automotive Holding UK PLCADS C-175,000$28.5K<0.1%History
NIOBWNiocorp Developments Ltd*W EXP 03/17/20247,333$26.0K<0.1%History
Forbion European Acqustn CorG3619H110*W EXP 12/10/20233,333$25.0K<0.1%–
Athena Consumer Acq Corp04684M114*W EXP 07/31/20250,000$18.0K<0.1%–
Anzu Special Acquisitin Corp03737A119*W EXP 01/27/202184,000$16.4K<0.1%–
Jaguar Global Growth Corp IG5S11A155RIGHT 01/01/202775,000$15.3K<0.1%–
Ef Hutton Acquisition Corp I28201D125RIGHT 11/18/202790,000$15.3K<0.1%–
Ares Acquisition CorporationG33032122*W EXP 99/99/99923,000$15.2K<0.1%–
Dune Acquisition Corp265334110*W EXP 10/29/202200,000$14.0K<0.1%–
Fat Projects Acquisition CorG3400W110*W EXP 08/31/202375,000$13.5K<0.1%–
Clean Earth Acquisitions Cor184493120RIGHT 01/01/2027100,000$13.1K<0.1%–
Eg Acquisition Corp26846A118*W EXP 05/28/20253,325$9.11K<0.1%–
Acropolis Infrastructure Acq005029111*W EXP 03/30/202135,334$8.12K<0.1%–
Nabors Energy Transition Cor629567116*W EXP 11/17/20237,500$7.13K<0.1%–
Arqit Quantum Inc.G0567U119*W EXP 11/02/20238,500$6.93K<0.1%–
Pono Cap Three IncG71704111*W EXP 01/11/202100,000$6.50K<0.1%–
Accretion Acquisition Corp00438Y123RIGHT 03/01/2028100,000$6.44K<0.1%–
Innovative Intl Acqusitin CoG4809M125*W EXP 07/01/202100,000$6.43K<0.1%–
Healthwell Acquisition Corp42227R117*W EXP 08/05/20237,500$6.37K<0.1%–
PGYWWPagaya Technologies Ltd.*W EXP 09/01/20217,694$6.19K<0.1%History
Shuaa Partners Acquistn CorpG81173117*W EXP 02/24/20287,500$5.54K<0.1%–
Byte Acquisition CorpG1R25Q113*W EXP 03/18/20223,000$5.29K<0.1%–
MariaDB plcG5920M118*W EXP 12/16/20266,666$5.08K<0.1%–
LANWFLanvin Group Holdings Ltd*W EXP 99/99/99922,908$4.58K<0.1%History
OIOWWOIO Group*W EXP 10/19/202232,500$4.53K<0.1%History
HUBCWHub Cyber Security Ltd.*W EXP 02/27/202404,550$4.25K<0.1%History
Industrial Tech Acqstns II I45635R116*W EXP 03/31/20262,500$3.99K<0.1%–
Artemis Strategic Invt Corp04303A111*W EXP 09/30/202125,000$3.83K<0.1%–
Perception Capital Corp IIG7007D110*W EXP 10/25/20237,500$3.56K<0.1%–
Black Mountain Acq Corp09216A116*W EXP 10/15/20275,000$3.52K<0.1%–
Omnilit Acquisition Corp68218C116*W EXP 11/08/20275,000$3.51K<0.1%–
BioPlus Acquisition Corp.G11217125*W EXP 12/02/20262,500$3.50K<0.1%–
10X Cap Venture Acqstn CorpG87076116*W EXP 04/19/20249,841$3.48K<0.1%–
Liv Capital Acquisitn Corp IG5510R113*W EXP 02/07/20290,000$3.37K<0.1%–
Jaguar Global Growth Corp IG5S11A130*W EXP 11/23/20237,500$3.30K<0.1%–
Infint Acquisition CorpG47862126*W EXP 99/99/99975,000$3.13K<0.1%–
Sportsmap Tech Acquisitin Co84921J116*W EXP 09/01/202104,126$2.97K<0.1%–
Ef Hutton Acquisition Corp I28201D117*W EXP 11/18/20290,000$2.80K<0.1%–
M3-Brigade Acquisition II Corp.553800111*W EXP 09/03/20261,333$2.79K<0.1%–
Seaport Global Acquisition I81221H113*W EXP 11/17/20250,000$2.75K<0.1%–
AERWINS Technologies Inc.00810J116*W EXP 02/03/20296,300$2.70K<0.1%–
Worldwide Webb Acquisition CG97775111*W EXP 10/20/20260,662$2.60K<0.1%–
Rose Hill Acquisition CorpG7637J123*W EXP 10/07/20250,000$2.50K<0.1%–
Clean Earth Acquisitions Cor184493112*W EXP 99/99/99950,000$2.50K<0.1%–
Mobiv Acquisition Corp60742N114*W EXP 07/31/20235,000$2.45K<0.1%–
Chavant Capital Acquisitn CoG2058L111*W EXP 99/99/999100,000$2.33K<0.1%–
Marti Technologi573134111EQUITY WRT125,000$2.26K<0.1%–
Data Knights Acquisition Cor237699111*W EXP 11/11/20249,700$2.24K<0.1%–
Nogin, Inc.65528N113*W EXP 08/26/202100,000$1.99K<0.1%–
Screaming Eagle Acquisitn CoG79407121*W EXP 01/05/20211,666$1.98K<0.1%–
Live Oak Crestview Climate A538086117*W EXP 09/27/20225,200$1.93K<0.1%–
C5 Acquisition Corporation12530D113*W EXP 12/31/20250,000$1.85K<0.1%–
SMXWWSMX (Security Matters) Public Ltd Co*W EXP 03/07/202150,000$1.71K<0.1%History
Home Plate Acquisition Corp43734R111*W EXP 09/30/20245,000$1.55K<0.1%–
Infinite Acquisition Corp.G48028123*W EXP 11/23/20237,500$1.50K<0.1%–
Disruptive Acquisition CorpG2770Y128*W EXP 03/06/20230,666$1.45K<0.1%–
PRENWPrenetics Global Ltd*W EXP 05/18/20233,333$1.33K<0.1%History
Satixfy Communications LtdM82363132*W EXP 99/99/99975,000$1.19K<0.1%–
Twin Ridge Capital Acquis CoG9151L120*W EXP 03/07/20215,333$1.15K<0.1%–
Accretion Acquisition Corp00438Y115*W EXP 03/01/20250,000$1.13K<0.1%–
KnightSwan Acquisition Corp499103117*W EXP 99/99/99925,000$905<0.1%–
Electriq Power Holdings, Inc.285046116Warrant30,666$874<0.1%–
Atlantic Coastal Acquistn Co048453112*W EXP 03/02/20230,666$859<0.1%–